AJ BELL PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 344.5 GBX | +2.53% |
|
+6.49% | +10.06% |
| May. 03 | Jefferies Downgrades AJ Bell to Hold from Buy, Trims PT | MT |
| May. 03 | Jefferies cuts AJ Bell; Deutsche likes ConvaTec | AN |
Valuation
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,684 | 1,843 | 1,633 | 1,105 | 1,130 | 1,419 | - | - |
| Enterprise Value (EV) 1 | 1,615 | 1,773 | 1,536 | 1,021 | 983.4 | 1,264 | 1,254 | 1,229 |
| P/E ratio | 55.4 x | 47.6 x | 37.4 x | 23.7 x | 16.6 x | 18.5 x | 17.6 x | 16.1 x |
| Yield | 1.17% | 1.37% | 1.74% | 1.71% | 3.92% | 4.25% | 3.62% | 3.89% |
| Capitalization / Revenue | 16.1 x | 14.5 x | 11.2 x | 6.74 x | 5.18 x | 5.66 x | 5.28 x | 4.84 x |
| EV / Revenue | 15.4 x | 14 x | 10.5 x | 6.23 x | 4.51 x | 5.04 x | 4.66 x | 4.2 x |
| EV / EBITDA | 40.9 x | 33.6 x | 25.8 x | 16.3 x | 10.8 x | 12.3 x | 11.6 x | 10.5 x |
| EV / FCF | 51.9 x | 45.7 x | 33 x | 24.1 x | 10 x | 19.1 x | 16.1 x | 14.7 x |
| FCF Yield | 1.93% | 2.19% | 3.03% | 4.15% | 9.96% | 5.24% | 6.22% | 6.79% |
| Price to Book | 19.4 x | 16.8 x | 12.5 x | 8.28 x | 6.8 x | 7.24 x | 6.82 x | 6.01 x |
| Nbr of stocks (in thousands) | 407,360 | 408,758 | 409,253 | 410,507 | 411,700 | 411,959 | - | - |
| Reference price 2 | 4.135 | 4.510 | 3.990 | 2.692 | 2.744 | 3.445 | 3.445 | 3.445 |
| Announcement Date | 12/5/19 | 12/3/20 | 12/2/21 | 12/1/22 | 12/7/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 104.9 | 126.7 | 145.8 | 163.8 | 218.2 | 250.6 | 269 | 293 |
| EBITDA 1 | 39.52 | 52.81 | 59.47 | 62.62 | 91.01 | 103.1 | 108.1 | 117 |
| EBIT 1 | 37.41 | 49.24 | 55.85 | 58.98 | 86.22 | 98.59 | 103.9 | 112.1 |
| Operating Margin | 35.66% | 38.85% | 38.3% | 36% | 39.51% | 39.35% | 38.63% | 38.27% |
| Earnings before Tax (EBT) 1 | 37.7 | 48.55 | 55.08 | 58.41 | 87.66 | 101.6 | 108.5 | 116.8 |
| Net income 1 | 30.35 | 38.83 | 43.82 | 46.74 | 68.22 | 76.4 | 81.78 | 88.64 |
| Net margin | 28.93% | 30.63% | 30.05% | 28.53% | 31.26% | 30.49% | 30.41% | 30.25% |
| EPS 2 | 0.0747 | 0.0947 | 0.1067 | 0.1135 | 0.1653 | 0.1858 | 0.1957 | 0.2140 |
| Free Cash Flow 1 | 31.14 | 38.83 | 46.56 | 42.42 | 97.91 | 66.28 | 77.94 | 83.47 |
| FCF margin | 29.69% | 30.64% | 31.93% | 25.89% | 44.86% | 26.45% | 28.98% | 28.49% |
| FCF Conversion (EBITDA) | 78.81% | 73.53% | 78.28% | 67.74% | 107.58% | 64.31% | 72.11% | 71.36% |
| FCF Conversion (Net income) | 102.6% | 100.01% | 106.24% | 90.76% | 143.52% | 86.75% | 95.3% | 94.16% |
| Dividend per Share 2 | 0.0483 | 0.0616 | 0.0696 | 0.0459 | 0.1075 | 0.1464 | 0.1246 | 0.1340 |
| Announcement Date | 12/5/19 | 12/3/20 | 12/2/21 | 12/1/22 | 12/7/23 | - | - | - |
1GBP in Million2GBP
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: September | 2021 S1 | 2022 S1 | 2022 S2 | 2023 S1 | 2024 S1 |
|---|---|---|---|---|---|
| Net sales | 73.9 | - | 88.32 | 103.6 | - |
| EBITDA | - | - | - | - | - |
| EBIT | 32.04 | - | - | 41.59 | - |
| Operating Margin | 43.35% | - | - | 40.14% | - |
| Earnings before Tax (EBT) | - | - | 32.3 | 41.9 | - |
| Net income | - | 20.9 | - | 32.84 | - |
| Net margin | - | - | - | 31.69% | - |
| EPS 1 | - | 0.0508 | 0.0627 | 0.0796 | 0.0920 |
| Dividend per Share | 0.0246 | - | - | 0.0350 | - |
| Announcement Date | 5/27/21 | 5/26/22 | 12/1/22 | 5/25/23 | - |
1GBP
Estimates
Balance Sheet Analysis
| Fiscal Period: September | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | - | - | - | - | - | - | - | - |
| Net Cash position 1 | 69.1 | 70 | 97.1 | 84 | 146 | 156 | 165 | 190 |
| Leverage (Debt/EBITDA) | - | - | - | - | - | - | - | - |
| Free Cash Flow 1 | 31.1 | 38.8 | 46.6 | 42.4 | 97.9 | 66.3 | 77.9 | 83.5 |
| ROE (net income / shareholders' equity) | 40.4% | 39.7% | 36.5% | 35.4% | 45.6% | 42.5% | 39.3% | 38.2% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | 0.2100 | 0.2700 | 0.3200 | 0.3300 | 0.4000 | 0.4800 | 0.5100 | 0.5700 |
| Cash Flow per Share 2 | 0.0800 | 0.1000 | 0.1200 | 0.1100 | 0.2500 | 0.1800 | 0.1900 | 0.2100 |
| Capex 1 | 0.86 | 0.86 | 1.17 | 3.38 | 3.5 | 3.88 | 4.02 | 4.17 |
| Capex / Sales | 0.82% | 0.68% | 0.81% | 2.06% | 1.6% | 1.55% | 1.49% | 1.42% |
| Announcement Date | 12/5/19 | 12/3/20 | 12/2/21 | 12/1/22 | 12/7/23 | - | - | - |
1GBP in Million2GBP
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
3.445
GBP
Average target price
3.731
GBP
Spread / Average Target
+8.31%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +10.06% | 1.78B | |
| +3.85% | 46.13B | |
| +18.41% | 12.82B | |
| +18.95% | 7.43B | |
| +1.10% | 7.43B | |
| -2.27% | 6.05B | |
| -1.20% | 3.34B | |
| +20.43% | 1.97B | |
| +2.36% | 1.23B | |
| -2.40% | 1.24B |
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