In the News
NEW REPORT: Trust now drives £841bn of UK market value
26 March 2026
Corporate reputation now accounts for £841 billion, more than a quarter of total FTSE 350 market capitalisation, according to new analysis launched today at Anthropy, marking a clear indicator of how UK markets value companies.
The findings, set out in The Reputation Economy 2026: Why Trust Drives More Than a Quarter of FTSE Value, show that reputation has moved beyond perception to become a core financial asset shaping resilience, investor confidence and long-term growth.
In a year defined by geopolitical instability, energy price volatility and rising cost pressures, investors are placing greater weight on credibility, leadership and delivery as indicators of future performance. Reputation is increasingly acting as a filter for capital allocation influencing where investment flows and how risk is priced.
The report shows that reputation is not episodic or crisis-driven. After nearly two decades of fluctuation through events such as the financial crisis, Brexit and Covid, reputation contribution has stabilised at around 28–30% of market value, confirming its structural integration into valuation models.
At the same time, a widening ‘trust divide’ is emerging. Reputation-driven value is increasingly concentrated among a smaller group of high-performing companies able to convert trust into measurable financial outcomes, while others struggle to do so.
The analysis also confirms that markets are rewarding fundamentals over narrative. The dominant drivers of reputation value – including quality of products and services, long-term value potential, financial soundness and management credibility – are operational and measurable.
Charles Tilley OBE, Chair of the Integrated Reporting and Connectivity Council and former Chief Executive of CIMA, said: “Reputation is not a passive outcome, it is an asset to be actively managed, directly influencing both organisational performance and long-term value. What this year’s report makes clear is that reputation must be understood not as a single metric, but as a portfolio of value drivers – spanning product quality, leadership, financial strength and long-term potential – and managed with the discipline of any other strategic asset.”
Sandra Macleod, Founder and Chief Executive of Echo Research, said: “Reputation is now firmly embedded in how markets price companies. This is not about perception alone – it is about measurable value. With more than a quarter of UK market value now dependent on trust, this places a clear imperative on boards to integrate investor relations, communications and risk around a shared, value-driven narrative. In doing so, reputation becomes not just something to protect, but a critical lever for competitiveness, resilience and long-term value creation.”
The UK Reputation Valuation Report 2026 provides detailed analysis across the FTSE 350, including sector-level insights, long-term trends and the companies consistently creating and losing reputation-driven value.
Echo’s Reputation Dividend® methodology quantifies the contribution of reputation to market capitalisation using robust econometric analysis combining financial data and stakeholder perception.
It helps FTSE-listed companies:
- Treat reputation as a portfolio of value drivers
- Align IR, Communications and Risk around what actually moves markets
- Manage trust with the same discipline as capital.
In the press:
"Corporate reputation is shaping the FTSE – so why do businesses ignore it?" Sandra Macleod, City AM
"New Echo Research Report Shows UK Reputation Value of £841bn" Paul Holmes, Provoke Media
"The reputation economy is real but public relations is still working to prove its contribution" Stephen Waddington, Substack
"Calculating the value of reputation" Helen Dunne, Corporate Affairs Unpacked
