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AJ BELL PLC
(LSE:AJB)
Select Model
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Rating:74Outperform
Price Target:
684.00 p
▲(10.95% Upside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by strong financial performance (high margins, low leverage, and solid cash generation). Technicals are supportive with the stock trading above major moving averages, though momentum indicators are only moderate. Valuation is acceptable but not particularly cheap given the P/E, with a moderate dividend yield providing some support.
Positive Factors
High profitability
High profitability gives AJ Bell capacity to reinvest in platform development, absorb operating costs and convert growth into shareholder value. The 33.08% net margin indicates the platform model currently operates with strong economic efficiency.
Negative Factors
Interest-rate sensitivity
Because revenue includes net interest income on client cash, earnings are structurally sensitive to interest-rate levels and cash balances. Rate changes or customer cash reallocation could reduce this contribution even if platform assets grow.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability
High profitability gives AJ Bell capacity to reinvest in platform development, absorb operating costs and convert growth into shareholder value. The 33.08% net margin indicates the platform model currently operates with strong economic efficiency.
Read all positive factors
AJ BELL PLC (AJB) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.42B
Dividend Yield2.44%
Average Volume (3M)561.32K
Price to Earnings (P/E)20.5
Beta (1Y)1.13
Revenue Growth19.27%
EPS Growth40.49%
CountryUK
Employees1,550
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.30
Shares Outstanding393,274,750
10 Day Avg. Volume494,601
30 Day Avg. Volume561,316
Financial Highlights & Ratios
PEG Ratio0.69
Price to Book (P/B)10.19
Price to Sales (P/S)6.97
P/FCF Ratio26.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£621.43Price Target Upside0.80% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)0.3
Revenue Forecast (FY)£376.91M
AJ BELL PLC Business Overview & Revenue Model
Company Description
AJ Bell plc manages a significant network of investment platforms across the United Kingdom. The company provides two primary offerings: 'AJ Bell Investcentre,' a robust platform designed for regulated financial advisers and wealth managers, equip...
How the Company Makes Money
AJ Bell primarily makes money by charging for operating an investment platform and facilitating investment transactions. Key revenue streams include: (1) Platform and custody fees: recurring charges linked to administering and safekeeping client a...
AJ BELL PLC Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
80
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 347.57M | 317.85M | 269.44M | 218.23M | 163.85M | 145.83M |
| Gross Profit | 342.61M | 317.85M | 269.44M | 218.23M | 163.85M | 145.83M |
| EBITDA | 165.79M | 142.84M | 116.61M | 90.99M | 62.60M | 59.83M |
| Net Income | 123.12M | 105.12M | 84.30M | 68.22M | 46.74M | 43.82M |
Balance Sheet | ||||||
| Total Assets | 293.48M | 303.08M | 288.88M | 234.32M | 165.78M | 162.34M |
| Cash, Cash Equivalents and Short-Term Investments | 167.59M | 188.19M | 196.65M | 146.30M | 84.03M | 97.06M |
| Total Debt | 12.14M | 12.06M | 13.18M | 12.41M | 13.96M | 15.59M |
| Total Liabilities | 81.58M | 85.63M | 84.89M | 68.28M | 32.38M | 31.63M |
| Stockholders Equity | 211.89M | 217.45M | 203.99M | 166.04M | 133.39M | 130.71M |
Cash Flow | ||||||
| Free Cash Flow | 97.12M | 84.05M | 93.34M | 99.84M | 42.62M | 44.21M |
| Operating Cash Flow | 99.96M | 86.48M | 96.29M | 101.41M | 46.00M | 47.75M |
| Investing Cash Flow | 11.81M | 4.36M | 3.96M | -1.11M | -3.38M | -6.11M |
| Financing Cash Flow | -118.68M | -99.31M | -49.90M | -38.03M | -52.59M | -30.97M |
AJ BELL PLC Technical Analysis
Positive
616.50
Price Trends
606.36
Positive
585.98
Positive
520.38
Positive
Market Momentum
1.42
Positive
54.59
Neutral
31.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AJB, the sentiment is Positive. The current price of 616.5 is above the 20-day moving average (MA) of 609.62, above the 50-day MA of 606.36, and above the 200-day MA of 520.38, indicating a bullish trend. The MACD of 1.42 indicates Positive momentum. The RSI at 54.59 is Neutral, neither overbought nor oversold. The STOCH value of 31.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:AJB.
AJ BELL PLC Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £2.42B | 20.48 | 57.35% | 2.44% | 19.27% | 40.49% | |
74 Outperform | £2.47B | 21.20 | 8.39% | 3.46% | 191.46% | ― | |
72 Outperform | £1.28B | 20.24 | 27.60% | 3.11% | 37.79% | 29.03% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | £1.69B | 13.35 | 8.95% | 6.06% | 5.39% | 85.13% | |
61 Neutral | £241.63M | 104.33 | 1.65% | 5.03% | 5.83% | -76.72% |
* Financial Sector Average
GB:AJB
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AJ BELL PLC Corporate Events
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell cancels 500,000 shares in ongoing £65m buyback drive
Positive
Aug 17, 2026
AJ Bell has bought back 500,000 ordinary shares between 10 and 14 August 2026 via Jefferies as part of its previously announced £50 million share buyback, and will cancel all of these shares rather than holding them in treasury. After cancell...
Regulatory Filings and Compliance
AJ Bell executives add shares under BAYE scheme
Positive
Aug 12, 2026
AJ Bell plc has reported a series of small share purchases by several senior executives and a closely associated person under its Buy As You Earn (BAYE) employee share scheme. The transactions, each involving around two dozen ordinary shares at a ...
Business Operations and StrategyStock Buyback
AJ Bell Advances Share Buyback, Cuts Share Count to 394m
Positive
Aug 10, 2026
AJ Bell plc has continued its previously announced share buyback strategy, repurchasing 125,000 ordinary shares between 3 and 7 August 2026 via Jefferies International. The company intends to cancel these shares, reducing the total number of ordin...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 350,000 Shares in Ongoing Buyback Programme
Positive
Aug 3, 2026
AJ Bell has repurchased 350,000 ordinary shares over 27–31 July 2026 through Jefferies International as part of its ongoing share buyback programme of up to £50 million. The company will cancel these shares, reducing its issued share ca...
Regulatory Filings and Compliance
AJ Bell Confirms Total Voting Rights and Share Capital Structure
Neutral
Jul 31, 2026
AJ Bell plc has confirmed that as of 31 July 2026 its issued share capital comprises 394,199,752 ordinary shares, each carrying one voting right, with no shares held in treasury. This disclosure sets the official total voting rights figure that sh...
Stock BuybackRegulatory Filings and Compliance
AJ Bell tightens share capital with latest buyback tranche
Positive
Jul 27, 2026
AJ Bell plc has continued its previously announced share buyback strategy, purchasing 274,991 ordinary shares between 20 and 24 July 2026 through Jefferies International. The company plans to cancel these shares rather than hold them in treasury, ...
Business Operations and StrategyFinancial Disclosures
AJ Bell posts record inflows as assets and customer base surge in Q3
Positive
Jul 23, 2026
AJ Bell reported a strong third quarter, with its dual-channel platform adding 39,000 customers to reach 762,000 and assets under administration climbing 26% year-on-year to £121.5 billion, helped by favourable markets and record net inflows ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cuts Share Count With Latest Buyback Tranche
Positive
Jul 20, 2026
AJ Bell plc has repurchased 124,980 ordinary shares between 13 and 17 July 2026 via Jefferies International under its ongoing buyback programme of up to £50 million announced in December 2025. The company intends to cancel these shares, reduc...
Other
AJ Bell Executives Add Shares Under BAYE Scheme
Positive
Jul 14, 2026
AJ Bell plc has disclosed a series of small share purchases by several persons discharging managerial responsibilities, including senior executives such as the Chief Technology Customer Services Officer, HR Director, Chief Risk Officer, General C...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cuts Share Count with Latest Tranche of £50m Buyback
Positive
Jul 13, 2026
AJ Bell has repurchased 124,998 ordinary shares between 6 and 10 July 2026 via Jefferies International as part of its ongoing share buyback programme of up to £50 million, and will cancel all of these shares rather than holding them in treasu...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 125,000 Shares Under Ongoing Buyback Programme
Positive
Jul 6, 2026
AJ Bell plc has repurchased 125,000 ordinary shares between 29 June and 3 July 2026 through Jefferies International as part of its existing share buyback programme of up to £50 million. The shares will be cancelled, reducing the total number ...
Regulatory Filings and Compliance
AJ Bell Confirms Total Voting Rights of 395 Million Shares
Neutral
Jun 30, 2026
AJ Bell plc has confirmed that as of 30 June 2026 its issued share capital comprises 395,135,062 ordinary shares, each carrying one voting right and with no shares held in treasury. This establishes the total number of voting rights at 395,135,062...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell tightens share capital with latest buyback tranche
Positive
Jun 29, 2026
AJ Bell plc has repurchased 125,000 ordinary shares between 22 and 26 June 2026 under its ongoing share buyback programme of up to £50 million, executed through Jefferies International. The shares will be cancelled, reducing the total number ...
Regulatory Filings and Compliance
AJ Bell reports PDMR-linked share sale and ISA purchase
Neutral
Jun 26, 2026
AJ Bell disclosed a transaction involving ordinary shares by Elisabeth Platts, who is closely associated with non-executive director and PDMR Leslie Platts. The filing reports the sale of 4,153 ordinary shares on 23 June 2026 on the London Stock E...
Business Operations and StrategyStock BuybackFinancial Disclosures
AJ Bell Cancels 125,000 Shares as Buyback Programme Advances
Positive
Jun 23, 2026
AJ Bell plc has repurchased 125,000 of its ordinary shares between 15 and 19 June 2026 as part of its ongoing share buyback programme of up to £50 million. The shares, acquired via Jefferies across multiple trading venues, will be cancelled, ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cuts Share Count with Latest £50m Buyback Tranche
Positive
Jun 15, 2026
AJ Bell has repurchased 125,000 of its ordinary shares between 8 and 12 June 2026 through Jefferies International, under its ongoing share buyback programme of up to £50 million. The company will cancel these shares, reducing the number of or...
Regulatory Filings and Compliance
AJ Bell executives add shares through BAYE scheme
Positive
Jun 12, 2026
AJ Bell has disclosed a series of small share purchases by several senior executives and a person closely associated with a director, all executed under the company’s BAYE share plan. The transactions, involving 25 ordinary shares each at a ...
Regulatory Filings and Compliance
AJ Bell Confirms Total Voting Rights at 395.4 Million Shares
Neutral
May 29, 2026
AJ Bell has confirmed that as of 29 May 2026 its issued share capital comprises 395,435,454 ordinary shares, each carrying one voting right, with no shares held in treasury. This disclosure sets the official total voting rights at 395,435,454, giv...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
AJ Bell Seeks Admission of 11 Million New Shares to Fund Incentive Schemes
Neutral
May 28, 2026
AJ Bell has applied for the admission of 10,996,902 new ordinary shares to trading on the London Stock Exchange’s Main Market, with the shares ranking pari passu with existing ordinary shares upon issue. The shares will be issued or transfer...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.