Rolls-Royce share price slips as £200m buyback grinds on and valuation debate returns
London, Jan 21, 2026, 09:33 GMT Rolls-Royce shares slipped 1.3% to 1,264 pence by 0913 GMT, pulling back from Tuesday’s close and easing off a rally that propelled the company into the upper ranks of the FTSE 100 by market value. (shareprices.com) The pullback comes amid debate over how much further the UK engine maker can push its turnaround, with shares now trading at a forward price/earnings ratio of 44.2—based on forecast earnings. Interactive investor analyst Robert Stephens called that multiple “exceptionally high,” even after accounting for expected profit growth. He also pointed to defence supplier Chemring as a more