AJ Bell AJB.L
United KingdomFinancial Services · Asset ManagementLondon Stock Exchange · GBP
6.63 GBP (+16.0%)
14 analysts
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AJ Bell is a British investment and savings platform offering brokerage services, individual savings accounts (ISAs), and personal pension plans ( SIPPs ) to retail investors and financial advisors, generating revenue from commissions and administration fees.
Listed on London Stock Exchange · Symbol AJB.L · LON: AJB · Currency GBP
Key points
from its scores- ✓Very solid balance sheet10.0
- ✓High-quality business9.3
- ✓Strong growth8.4
- ✕Demanding valuation3.4
- !Weak share-price trend5.8
AI analysis
bottom line, main risk, context and newsFundamentals are solid and growth is strong, but the valuation does not offer a wide margin of safety.
AJ Bell shows exceptional financial health with an ROE of 59.94% and operating and net margins of 41.81% and 35.52% respectively, reflecting a highly profitable business model with a solid competitive moat. Revenue and profit growth of 19.50% and 38.60% respectively is robust, although the valuation (P/E 19.03) is not particularly cheap. The dividend, with a payout of 46.98%, is sustainable and attractive.
The main risk is regulatory: changes in FCA rules on investment platforms, fees, or financial advice could affect AJ Bell's revenue model.
Context and risks
AJ Bell operates in the UK, a market with a stable regulatory framework but under active FCA supervision for investment platforms. The main risk is regulatory, with potential changes in financial advice rules or fee structures that could affect its business model. There is no material exposure to interest rates, commodities, or direct geopolitical risks.
Is AJ Bell stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 257% above the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 19.0 | 13.7 | +39% |
| Price / book | 10.7 | 1.9 | +476% |
| Price / sales | 6.5 | 3.5 | +87% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.4 out of 10 (median for Financial Services: 5.2).
Average analyst target: 6.63 GBP, +16.0% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 9.3 (sector 8.8), Growth 8.4 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 19.0
- Forward P/E
- 16.9
- Price / book
- 10.7
- Price / sales
- 6.5
- PEG
- 0.48
- Market cap
- 2.2B GBP
- Enterprise value
- 2.1B GBP
Profitability
- ROE
- 59.9%
- ROA
- 43.1%
- ROIC (approx.)
- 65.2%
- Gross margin
- 98.4%
- Operating margin
- 41.8%
- Net margin
- 35.5%
Solvency
- Total debt
- 12.1M GBP
- Net debt
- −155.4M GBP
- Cash
- 167.6M GBP
- Debt / equity
- 5.73
- Current ratio
- 3.86
- Quick ratio
- 3.86
Growth
- Revenue growth
- +19.5%
- Earnings growth
- +38.6%
- EPS (TTM)
- 0.30 GBP
- EPS (forward)
- 0.34 GBP
Dividend
- Dividend yield
- 2.6%
- Payout
- 47.0%
Risk and market
- Beta
- 0.85
- Analyst consensus
- Buy (14)
- Target price
- 6.63 GBP
Recent news
All AJB.L news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about AJ Bell
Is AJ Bell stock cheap or expensive?
On P/E and Price / book, it trades 257% above the Financial Services median on average. Valuation score: 3.4 out of 10 (median for Financial Services: 5.2). Average analyst target: 6.63 GBP, +16.0% versus the price. This is not investment advice.
What score does AJ Bell get on MeridIAn Screener?
It scores 7.3 out of 10, rank 77 of 2,130 (better than 95% of the companies analysed). Its strongest category is Financial health (10.0) and its weakest, Valuation (3.4). Analysis of 08/10/2026.
What is AJ Bell's P/E ratio?
Its P/E is 19.0: the share price equals 19.0 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 16.9.
How much is AJ Bell worth on the stock market?
Its market capitalisation is 2.2B GBP.
Does AJ Bell pay a dividend?
Yes: its dividend yield is 2.63% and it pays out 47% of its earnings.
How has AJ Bell stock performed over the last year?
It has risen 6.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 0.00 and 6.62 GBP. Past performance does not guarantee future results.
What do analysts think of AJ Bell?
14 analysts cover it; their average recommendation is “Buy” and their average target is 6.63 GBP (+16.0% versus the price). It is an estimate, not market data.