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U.K. (FTSE) Market Analysis & Valuation

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies1093
  • 7D1.9%
  • 3M11.8%
  • 1Y23.9%
  • YTD7.7%

In the last week, the market is up 1.9% led by Financials sector. The market is up 24% over the last 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

Has the U.K. Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026UK£3.0tUK£2.0tUK£148.5b16.7x20.5x1.6x
Thu, 22 Jan 2026UK£2.9tUK£2.0tUK£137.8b16.6x21.1x1.5x
Sat, 20 Dec 2025UK£2.8tUK£2.0tUK£138.3b16x20.4x1.4x
Mon, 17 Nov 2025UK£2.8tUK£2.0tUK£139.2b16.4x20x1.4x
Wed, 15 Oct 2025UK£2.7tUK£1.9tUK£135.9b16.7x20.1x1.4x
Fri, 12 Sep 2025UK£2.7tUK£1.9tUK£135.5b16.3x19.8x1.4x
Sun, 10 Aug 2025UK£2.6tUK£1.9tUK£134.0b16.2x19.7x1.4x
Tue, 08 Jul 2025UK£2.5tUK£1.9tUK£127.0b16.2x19.6x1.3x
Thu, 05 Jun 2025UK£2.5tUK£1.9tUK£127.1b16.2x19.6x1.3x
Sat, 03 May 2025UK£2.4tUK£2.0tUK£131.6b15.8x18.6x1.2x
Mon, 31 Mar 2025UK£2.5tUK£2.0tUK£135.5b15.5x18.2x1.2x
Wed, 26 Feb 2025UK£2.5tUK£2.0tUK£137.3b16x18.2x1.2x
Fri, 24 Jan 2025UK£2.5tUK£2.1tUK£124.0b15.9x20.1x1.2x
Sun, 22 Dec 2024UK£2.4tUK£2.0tUK£122.8b16x19.4x1.2x
Tue, 19 Nov 2024UK£2.4tUK£2.0tUK£121.9b16.4x19.6x1.2x
Thu, 17 Oct 2024UK£2.4tUK£2.0tUK£119.0b16.7x20.4x1.2x
Sat, 14 Sep 2024UK£2.4tUK£2.0tUK£119.3b16.5x20.4x1.2x
Mon, 12 Aug 2024UK£2.4tUK£2.0tUK£123.3b16.4x19.6x1.2x
Wed, 10 Jul 2024UK£2.4tUK£2.0tUK£131.6b16.7x18.3x1.2x
Fri, 07 Jun 2024UK£2.5tUK£2.0tUK£129.4b16.7x19.1x1.2x
Sun, 05 May 2024UK£2.4tUK£2.1tUK£141.9b16.5x17.3x1.2x
Tue, 02 Apr 2024UK£2.4tUK£2.1tUK£146.0b16.4x16.5x1.1x
Thu, 29 Feb 2024UK£2.3tUK£2.0tUK£140.8b15.1x16.3x1.1x
Sat, 27 Jan 2024UK£2.3tUK£2.1tUK£193.0b15x11.9x1.1x
Mon, 25 Dec 2023UK£2.3tUK£2.1tUK£193.7b15.2x12.1x1.1x
Wed, 22 Nov 2023UK£2.3tUK£2.1tUK£194.2b14.1x11.7x1.1x
Fri, 20 Oct 2023UK£2.3tUK£2.2tUK£187.3b13.6x12.2x1x
Sun, 17 Sep 2023UK£2.4tUK£2.2tUK£185.6b14.8x12.8x1.1x
Tue, 15 Aug 2023UK£2.3tUK£2.1tUK£184.6b14.4x12.6x1.1x
Thu, 13 Jul 2023UK£2.3tUK£2.2tUK£205.6b14x11.2x1.1x
Sat, 10 Jun 2023UK£2.4tUK£2.2tUK£210.0b14.3x11.3x1.1x
Mon, 08 May 2023UK£2.4tUK£2.2tUK£209.8b14.4x11.6x1.1x
Wed, 05 Apr 2023UK£2.4tUK£2.2tUK£180.2b13.6x13.3x1.1x
Fri, 03 Mar 2023UK£2.5tUK£2.2tUK£192.0b13.7x13.3x1.2x
Price to Earnings Ratio

13.3x


Total Market Cap: UK£2.5tTotal Earnings: UK£192.0bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17x202420252026
Current Market PE
  • Investors are optimistic on the British market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 20.5x which is higher than its 3-year average PE of 17.0x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 8.2% per year over the last three years.
  • Revenues have also declined 4.0% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the U.K. Market?

GB Market1.89%
Energy2.91%
Materials2.76%
Consumer Staples2.52%
Consumer Discretionary2.28%
Industrials2.02%
Telecom1.89%
Financials1.62%
Real Estate1.53%
Tech1.16%
Healthcare1.10%
Utilities-1.03%
Sector PE
  • Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 53.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.7%, which is higher than its past year's earnings growth of 7.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 5.5% per year.
  • In contrast, the Industrials sector is expected to see its earnings grow by 7.2% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
HSBA HSBC HoldingsUK£12.933.3%
+UK£7.1b		47.3%PB1.6xFinancials
BATS British American TobaccoUK£45.976.8%
+UK£6.3b		52.5%PE13xConsumer Staples
SHEL ShellUK£29.653.5%
+UK£5.5b		12.6%PE12.7xEnergy
ANTO AntofagastaUK£40.818.9%
+UK£3.3b		130.6%PE40.9xMaterials
BA. BAE SystemsUK£21.375.3%
+UK£3.2b		63.8%PE30.8xIndustrials
See more

Market Insights

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1Y
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ANTO
UK£42.13
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7D
16.5%
1Y
143.5%
AZN
UK£153.26
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28.4%
RIO
UK£72.69
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7D
2.2%
1Y
50.2%

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FRES
UK£40.32
Fresnillo
7D
8.0%
1Y
445.6%

FRES: Mixed Rating Shifts Will Likely Expose Mounting Execution Risk

The Fresnillo analyst price target has been reduced by about £0.17 per share, as analysts factor in slightly higher projected revenue growth and profit margins, together with a modestly lower P/E and discount rate following recent mixed rating and target changes across the Street. Analyst Commentary Recent Street research on Fresnillo shows a split view, with some firms lifting targets while others trim expectations or ratings.
IHG
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InterContinental Hotels Group
7D
-4.9%
1Y
14.3%
III
UK£32.88
3i Group
7D
-4.1%
1Y
-19.0%

III: Stable Forecasts Suggest Durable Returns And Ongoing Dividend Visibility

Analysts have slightly adjusted their price targets on 3i Group, with recent research showing moves of £1.00 higher and £0.95 lower. These changes leave our fair value estimate essentially unchanged at £42.01, supported by broadly stable assumptions for discount rate, revenue growth, profit margin and future P/E.
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British American Tobacco
7D
5.4%
1Y
50.7%

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BA.
UK£21.41
BAE Systems
7D
5.5%
1Y
56.7%

BA.: Defence Order Momentum And 2026 Visibility Will Support Earnings Repricing

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SHEL
UK£29.72
Shell
7D
3.6%
1Y
13.0%
GSK
UK£22.01
GSK
7D
-1.7%
1Y
48.4%

GSK: Limited Late Stage Data Will Restrain Future Multiple Expansion

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NWG
UK£6.04
NatWest Group
7D
-1.6%
1Y
33.3%

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JMAT
UK£19.59
Johnson Matthey
7D
-14.3%
1Y
36.0%

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GLEN
UK£5.19
Glencore
7D
6.9%
1Y
64.5%
BARC
UK£4.60
Barclays
7D
-3.0%
1Y
54.9%

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HSBA
UK£12.91
HSBC Holdings
7D
1.7%
1Y
43.6%

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