Company Valuation: AJ Bell plc

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,633 1,105 1,130 1,854 2,185 2,269 - -
Change - -32.32% 2.23% 64.07% 17.87% 3.87% - -
Enterprise Value (EV) 1 1,536 1,021 983.4 1,657 1,997 2,058 2,021 1,969
Change - -33.52% -3.69% 68.49% 20.5% 3.1% -1.81% -2.57%
P/E 37.4x 23.7x 16.6x 22.1x 21.2x 18.7x 16.8x 14.9x
PBR 12.5x 8.28x 6.8x 9.13x 10.2x 9.43x 7.9x 6.61x
PEG - 3.72x 0.4x 1x 0.8x 0.9x 1.5x 1.2x
Capitalization / Revenue 11.2x 6.74x 5.18x 6.88x 6.87x 6.05x 5.43x 4.91x
EV / Revenue 10.5x 6.23x 4.51x 6.15x 6.28x 5.49x 4.84x 4.26x
EV / EBITDA 25.8x 16.3x 10.8x 15x 14.7x 13.1x 11.4x 10.1x
EV / EBIT 27.5x 17.3x 11.4x 15.4x 15.1x 13.3x 11.7x 10.2x
EV / FCF 33x 24.1x 10x 17.8x 23.8x 17.3x 16.4x 14.4x
FCF Yield 3.03% 4.15% 9.96% 5.63% 4.21% 5.76% 6.12% 6.96%
Dividend per Share 2 0.0696 0.0459 0.1075 0.125 0.1425 0.157 0.1768 0.1977
Rate of return 1.74% 1.71% 3.92% 2.78% 2.63% 2.73% 3.07% 3.43%
EPS 2 0.1067 0.1135 0.1653 0.2034 0.2556 0.3085 0.3427 0.3862
Distribution rate 65.2% 40.4% 65% 61.5% 55.8% 50.9% 51.6% 51.2%
Net sales 1 145.8 163.8 218.2 269.4 317.8 374.9 418 462.4
EBITDA 1 59.47 62.62 91.01 110.7 136 157.3 177.3 194.8
EBIT 1 55.85 58.98 86.22 107.3 132 154.3 173 192.1
Net income 1 43.82 46.74 68.22 84.3 105.1 124.5 133.9 149.2
Net Debt 1 -97.06 -84.03 -146.3 -196.7 -188.2 -210.8 -248.1 -300.1
Reference price 2 3.990 2.692 2.744 4.495 5.415 5.760 5.760 5.760
Nbr of stocks (in thousands) 409,253 410,507 411,700 412,355 403,455 393,953 - -
Announcement Date 12/2/21 12/1/22 12/7/23 12/5/24 12/4/25 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.93x5.57x13.29x2.69% 3.05B
18.38x3.47x9.49x3.1% 63.11B
7.64x - - 3.27% 41.62B
12.52x - - 2.24% 14B
7.75x0.93x - 3.33% 13.01B
11.91x0.79x - 2.05% 8.56B
7.91x - - 6.71% 6.89B
20.63x24.41x78x2.26% 4.39B
-77.02x2.62x13.91x1.48% 4.11B
Average 3.18x 6.30x 28.67x 3.01% 17.64B
Weighted average by Cap. 10.98x 3.87x 13.92x 3.11%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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