AJ BELL PLC (GB:AJB)
LSE:AJB
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AJ BELL PLC
(LSE:AJB)
Select Model
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Rating:65Neutral
Price Target:
551.00 p
▲(0.09% Upside)
Action:Downgraded
Date:12/11/25
AJ Bell PLC's strong financial performance is the most significant factor, highlighting robust growth and profitability. However, technical analysis indicates bearish momentum, which negatively impacts the overall score. The valuation is fair but not compelling enough to offset the technical weaknesses.
Positive Factors
Low leverage & strong equity base
AJ Bell's very low debt-to-equity (0.06) and high equity ratio (~71.8%) provide durable financial flexibility, lowering refinancing risk and preserving capacity to invest or return capital. Coupled with an elevated ROE (48.34%), this supports sustainable capital allocation and resilience across market cycles.
Negative Factors
Revenue tied to market levels/AUA
A substantial portion of AJ Bell's recurring fees scale with assets under administration, making revenues sensitive to market valuation movements. Sustained market declines or prolonged net outflows can materially reduce platform fee income and weaken top-line growth over a multi-month horizon, increasing earnings volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage & strong equity base
AJ Bell's very low debt-to-equity (0.06) and high equity ratio (~71.8%) provide durable financial flexibility, lowering refinancing risk and preserving capacity to invest or return capital. Coupled with an elevated ROE (48.34%), this supports sustainable capital allocation and resilience across market cycles.
Read all positive factors
AJ BELL PLC (AJB) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.04B
Dividend Yield2.43%
Average Volume (3M)1.03M
Price to Earnings (P/E)10.2
Beta (1Y)0.90
Revenue Growth17.97%
EPS Growth25.51%
CountryUK
Employees1,460
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.25
Shares Outstanding395,435,460
10 Day Avg. Volume585,076
30 Day Avg. Volume1,025,255
Financial Highlights & Ratios
PEG Ratio0.70
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
£550.83Price Target Upside0.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)0.26
Revenue Forecast (FY)£351.27M
AJ BELL PLC Business Overview & Revenue Model
Company Description
AJ Bell plc, through its subsidiaries, operates investment platforms in the United Kingdom. The company offers AJ Bell Investcentre, which provides a suite of products, services, investment solutions, and online tools for regulated financial advis...
How the Company Makes Money
AJ Bell primarily makes money by operating an investment platform that administers and safeguards client assets and facilitates investing activity for customers and adviser firms. Its key revenue streams typically include: (1) Platform/advice-chan...
AJ BELL PLC Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
80
Positive
| Breakdown | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 317.85M | 269.44M | 218.23M | 163.85M | 145.83M |
| Gross Profit | 317.85M | 269.44M | 218.23M | 163.85M | 145.83M |
| EBITDA | 142.84M | 116.61M | 90.99M | 62.60M | 59.83M |
| Net Income | 105.12M | 84.30M | 68.22M | 46.74M | 43.82M |
Balance Sheet | |||||
| Total Assets | 303.08M | 288.88M | 234.32M | 165.78M | 162.34M |
| Cash, Cash Equivalents and Short-Term Investments | 188.19M | 196.65M | 146.30M | 84.03M | 97.06M |
| Total Debt | 12.06M | 13.18M | 12.41M | 13.96M | 15.59M |
| Total Liabilities | 85.63M | 84.89M | 68.28M | 32.38M | 31.63M |
| Stockholders Equity | 217.45M | 203.99M | 166.04M | 133.39M | 130.71M |
Cash Flow | |||||
| Free Cash Flow | 84.05M | 93.34M | 99.84M | 42.62M | 44.21M |
| Operating Cash Flow | 86.48M | 96.29M | 101.41M | 46.00M | 47.75M |
| Investing Cash Flow | 4.36M | 3.96M | -1.11M | -3.38M | -6.11M |
| Financing Cash Flow | -99.31M | -49.90M | -38.03M | -52.59M | -30.97M |
AJ BELL PLC Technical Analysis
Neutral
550.50
Price Trends
496.47
Positive
468.97
Positive
487.68
Positive
Market Momentum
2.89
Positive
47.41
Neutral
33.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:AJB, the sentiment is Neutral. The current price of 550.5 is above the 20-day moving average (MA) of 526.45, above the 50-day MA of 496.47, and above the 200-day MA of 487.68, indicating a neutral trend. The MACD of 2.89 indicates Positive momentum. The RSI at 47.41 is Neutral, neither overbought nor oversold. The STOCH value of 33.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | £2.41B | 8.36 | 8.35% | 3.40% | 71.85% | ― | |
72 Outperform | £207.67M | 13.32 | 4.43% | 5.14% | 1.02% | -62.71% | |
72 Outperform | £1.11B | 9.52 | 23.86% | 3.11% | 7.13% | -1.52% | |
70 Outperform | £2.02B | 6.49 | 8.33% | 4.91% | 2.02% | 69.06% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | £2.04B | 10.20 | 50.49% | 2.43% | 17.97% | 25.51% | |
60 Neutral | £2.23B | -91.19 | 0.18% | 1.03% | 25.07% | ― |
* Financial Sector Average
GB:AJB
AJ BELL PLC
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9.83%
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AJ BELL PLC Corporate Events
Other
AJ Bell Executives Increase Holdings Through BAYE Share Purchases
Positive
May 13, 2026
AJ Bell has disclosed a series of small share purchases by several senior executives and a person closely associated, all acquiring 28 ordinary shares each at £5.28 under the company’s BAYE share plan. The transactions, carried out on 1...
Regulatory Filings and Compliance
AJ Bell Confirms Total Voting Rights Following Share Capital Update
Neutral
Apr 30, 2026
AJ Bell has confirmed that as of 30 April 2026 its issued share capital comprises 395,435,454 ordinary shares, each carrying one vote, and that it holds no shares in treasury. This establishes the company’s total voting rights at 395,435,454...
Stock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 25,000 Shares Under £50m Buyback Programme
Positive
Apr 27, 2026
AJ Bell has continued to execute its previously announced share buyback programme of up to £50m, repurchasing 25,000 ordinary shares on 20 April 2026 via Jefferies International across multiple trading venues at a volume-weighted average pric...
Business Operations and StrategyExecutive/Board Changes
AJ Bell strengthens board with appointment of Libby Chambers as non-executive director
Positive
Apr 23, 2026
AJ Bell has appointed Elizabeth (Libby) G. Chambers as an independent non-executive director, effective 1 May 2026, as part of its board succession plans. Subject to regulatory approval, she will become Chair of the Remuneration Committee, succeed...
Business Operations and StrategyFinancial Disclosures
AJ Bell posts record customer growth and inflows despite market volatility
Positive
Apr 23, 2026
AJ Bell reported another quarter of rapid expansion across its dual-channel platform business, with total customers rising by a record 50,000 to 723,000 and assets under administration reaching £108.7 billion, up 20% year-on-year despite a 2%...
Business Operations and StrategyStock Buyback
AJ Bell Cancels Nearly 200,000 Shares in Ongoing £50m Buyback
Positive
Apr 20, 2026
AJ Bell has continued executing its previously announced £50m share buyback programme, repurchasing 199,898 ordinary shares between 13 and 17 April 2026 via Jefferies International. The company plans to cancel all of these shares, rather than...
Other
AJ Bell Chief Risk Officer Reports Share Dealings on London Stock Exchange
Neutral
Apr 15, 2026
AJ Bell’s Chief Risk Officer, Karen Goodman, has reported a transaction involving the sale and purchase of the company’s ordinary shares on 14 April 2026. Goodman sold 3,709 AJ Bell ordinary shares at £5.395 each on the London Sto...
Other
AJ Bell Executives Increase Holdings Through BAYE Share Purchases
Positive
Apr 14, 2026
AJ Bell has disclosed a series of small share purchases by several senior executives, including its Chief Technology Customer Services Officer, HR Director, Chief Risk Officer, and various managing directors. Each person bought 29 ordinary shares...
Stock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 349,590 Shares in Ongoing £50m Buyback
Positive
Apr 13, 2026
AJ Bell has repurchased 349,590 of its ordinary shares between 7 and 10 April 2026 via Jefferies International, under its previously announced share buyback programme of up to £50m. The company plans to cancel all of these shares, reducing it...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell cancels 400,000 shares in ongoing £50m buyback
Positive
Apr 7, 2026
AJ Bell has repurchased 400,000 ordinary shares between 30 March and 2 April 2026 via Jefferies International as part of its previously announced £50 million share buyback programme. The company plans to cancel all of these shares, rather tha...
Regulatory Filings and Compliance
AJ Bell Confirms Total Voting Rights and Share Capital Structure
Neutral
Mar 31, 2026
AJ Bell plc has reported that, as of 31 March 2026, its issued share capital comprises 396,409,942 ordinary shares, each conferring one voting right. The company confirmed it holds no shares in treasury, meaning all issued shares carry voting righ...
Other
AJ Bell CMO Stephen Vowles Purchases Shares, Signalling Confidence
Positive
Mar 27, 2026
AJ Bell plc disclosed that its Chief Marketing Officer and person discharging managerial responsibilities, Stephen Vowles, has purchased 42,689 ordinary shares in the company on the London Stock Exchange. The transaction, executed on 26 March 2026...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 500,000 Shares Under Ongoing £50m Buyback
Positive
Mar 23, 2026
AJ Bell has repurchased 500,000 ordinary shares between 16 and 20 March 2026 as part of its previously announced £50m share buyback programme, executing the trades via Jefferies International across multiple trading venues. The company plans ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 500,000 Shares Under Ongoing Buyback Programme
Positive
Mar 16, 2026
AJ Bell plc has repurchased 500,000 of its ordinary shares between 9 and 13 March 2026 through Jefferies International, as part of its previously announced £50m share buyback programme. The company plans to cancel all of these shares rather t...
Business Operations and StrategyRegulatory Filings and Compliance
AJ Bell Executives Add Shares Through BAYE Scheme
Positive
Mar 13, 2026
AJ Bell has reported a series of small share purchases by several senior executives and persons discharging managerial responsibilities, including its Chief Technology Customer Services Officer, HR Director, Chief Risk Officer and various managin...
Business Operations and StrategyStock Buyback
AJ Bell Cancels 100,000 Shares in Ongoing £50m Buyback
Positive
Mar 9, 2026
AJ Bell has bought back 100,000 ordinary shares as part of its previously announced £50m share repurchase programme, paying a volume-weighted average price of 450.22 pence per share. The purchase was executed through Jefferies International a...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 100,000 Shares in Ongoing £50m Buyback
Positive
Mar 6, 2026
AJ Bell plc has repurchased 100,000 ordinary shares at a volume-weighted average price of 449.46 pence per share as part of its up to £50m share buyback programme launched in December 2025. The company plans to cancel these shares, leaving 39...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell cancels 100,000 shares in latest phase of £50m buyback
Positive
Mar 5, 2026
AJ Bell plc has continued its previously announced share buyback programme of up to £50m, repurchasing 100,000 ordinary shares on 4 March 2026 through Jefferies International at a volume-weighted average price of 446.18 pence. The company pla...
Stock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 100,000 Shares in Ongoing £50m Buyback Programme
Positive
Mar 4, 2026
AJ Bell plc has executed a further tranche of its up to £50 million share buyback programme, repurchasing 100,000 ordinary shares on 3 March 2026 at a volume-weighted average price of 437.02 pence. The transaction, carried out through Jefferi...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 50,000 Shares in Ongoing £50m Buyback
Positive
Mar 3, 2026
AJ Bell plc has repurchased 50,000 ordinary shares as part of its previously announced £50 million share buyback programme, executed through Jefferies International at a volume-weighted average price of 431.20 pence. The company plans to canc...
Business Operations and StrategyStock Buyback
AJ Bell Cancels 50,000 Shares in Ongoing £50m Buyback
Positive
Mar 2, 2026
AJ Bell plc has repurchased 50,000 of its ordinary shares as part of its previously announced £50 million share buyback programme, paying a volume-weighted average price of 433.24 pence per share. The shares were bought across multiple tradin...
Regulatory Filings and Compliance
AJ Bell Confirms Total Voting Rights at 398.5 Million Shares
Positive
Feb 27, 2026
AJ Bell plc has confirmed that as of 27 February 2026 its issued share capital comprises 398,459,942 ordinary shares, each carrying one voting right, with no shares held in treasury. This establishes the company’s total voting rights at 398,...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels Further Shares Under £50m Buyback Programme
Positive
Feb 27, 2026
AJ Bell plc has continued executing its previously announced share buyback programme of up to £50m, repurchasing 50,000 ordinary shares on 26 February 2026 through Jefferies International at a volume-weighted average price of 432.74p. The com...
Business Operations and StrategyStock Buyback
AJ Bell Cancels 50,000 Shares in Ongoing £50m Buyback Programme
Positive
Feb 26, 2026
AJ Bell plc has continued its previously announced £50 million share buyback, repurchasing 50,000 ordinary shares on 25 February 2026 at a volume-weighted average price of 425.06 pence. The transactions were executed through Jefferies Interna...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 50,000 Shares Under £50m Buyback Programme
Positive
Feb 25, 2026
AJ Bell plc has repurchased 50,000 of its ordinary shares at a volume-weighted average price of 418.94 pence as part of its previously announced £50 million share buyback programme. The company plans to cancel these shares, reducing the total...
Stock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 50,000 Shares in Ongoing £50m Buyback Programme
Positive
Feb 24, 2026
AJ Bell plc has repurchased 50,000 ordinary shares as part of its previously announced £50 million share buyback programme, at a volume-weighted average price of 423.36 pence per share. The shares, acquired via Jefferies across multiple tradi...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 50,000 Shares in Ongoing £50m Buyback
Positive
Feb 23, 2026
AJ Bell plc has repurchased 50,000 of its ordinary shares on 20 February 2026 through Jefferies International as part of its up to £50m share buyback programme launched in December 2025. The shares were bought at prices between 422.60p and 42...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
AJ Bell Cancels 50,000 Shares in Ongoing £50m Buyback
Positive
Feb 20, 2026
AJ Bell has repurchased 50,000 ordinary shares as part of its ongoing share buyback programme of up to £50m, paying a volume-weighted average price of 420.79 pence per share. The shares, acquired via Jefferies across multiple trading venues, ...
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.