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Allfunds Group Ltd (ALLFG) Fair Value & Analysis

Financial Services · NL · Market cap €5.3B · ISIN GB00BNTJ3546

What is Allfunds Group Ltd really worth?

AG Allfunds Group Ltd ALLFG · AS
Price€9.07
Fair Value€1.93
Upside−78.7%
Quality60/100

A solid business, but trading 370% above our fair value of €1.93.

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Strengths

Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −17.1 %/yr)
!Thin margins · 0.4% net margin
!Trails peers (4/14)
!Narrow moat 43/100
!Evidence only medium, so the estimate is less certain

For context

·2.21% dividend yield
Evidence: Medium Range €1.19 – €1.93

Fair value as of: Aug 19, 2026

From 13 valuation models · updated 16 days ago

Share price +6.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (€1.93). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

€17.49 €4.26 Fair Value €1.93 Jul 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range €4.26 – €17.49 · fair‑value band €1.19 – €1.93 · the €9.07 price screens above the €1.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Allfunds Group Ltd (ALLFG) currently trades at €9.07, while our model-based Fair Value estimate is €1.93, implying the stock looks roughly 369.9% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Financial Services sector. Bull case: the Growth DCF group reads highest at a median of €6.17 per share, and 0 of the 13 models we run sit above the €9.07 price. Bear case: the Economic Profit group reads lowest at €1.92, and 13 of the 13 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Allfunds Group Ltd generated revenue of €651M at a net margin of 0.4%. Revenue declined 4.9% year over year. It earns a return on equity of 0.1%. Net debt stands at €442M. Fundamentals as of Aug 19, 2026

Our scenario range runs from €1.19 (bear case) to €1.93 (bull case); at €9.07, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 70% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −28% fair-value upside, at −79%, ALLFG screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (€0.0300 to €6.90). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF best evidence €5.70 €6.90 €8.70 80
Owner Earnings €4.62 €5.24 €6.17 78
Residual Income €2.09 €1.92 €1.25 76
All 13 models by family
DCF Models
Owner Earnings €4.62 €5.24 €6.17 78
5Y P/E Exit €4.34 €4.47 €4.57 72
10Y P/E Exit €4.82 €5.06 €5.31 65
Earnings-Based
Graham-Dodd €0.0300 €0.0900 €0.1200 65
Lynch FV €0.0200 €0.0300 €0.0400 61
Dividend Discount
Gordon GGM €1.18 €2.34 €3.55 67
DDM Multi-Stage €1.18 €2.02 €2.47 67
Multiples
P/E Multiple €0.0400 €0.0500 €0.0600 63
P/B Multiple €0.0500 €0.0700 €0.0800 55
Asset-Based
NCAV (Graham) €1.59 €2.13 €3.17 54
Growth DCF
Growth DCF best evidence €5.70 €6.90 €8.70 80
Rev-Margin DCF €5.23 €6.17 €7.30 74
Economic Profit
Residual Income €2.09 €1.92 €1.25 76

Widest divergence: Growth DCF (€6.17) versus Earnings-Based (€0.0300). Highest evidence: Growth DCF (80).

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Key figures & financial health

P/S ratio 8.02 TTM
Dividend yield 2.2%
Net margin 0.4% FY2025
Return on equity 0.1% TTM
Return on assets (EBIT) 2.9% avg 5y
Operating margin 40.4% TTM
More key figures
Growth
Revenue (TTM) €651M TTM
Revenue growth (YoY) −4.9% 3y avg −39.0%
EPS growth (YoY) +40.9%
Balance sheet & cash flow
Free cash flow €112M FY2025
Net debt €442M FY2025 · ≈ 3.9 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 76

Profitability 13
Margins and returns on capital today
Quality Growth 63
Are margins and returns improving?
Cashflow 75
Earnings quality: real cash, not paper profit
Fin. Strength 63
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 69
Calm price path (market factor)
Momentum 68
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 92
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Allfunds Group plc, together with its subsidiaries, operates as a B2B WealthTech company that connects fund houses and distributors in the United Kingdom and internationally. It operates through two segments, Net Platform, and Net Subscription and Other Revenues.

Full company description

Allfunds Group plc, together with its subsidiaries, operates as a B2B WealthTech company that connects fund houses and distributors in the United Kingdom and internationally. It operates through two segments, Net Platform, and Net Subscription and Other Revenues. The company offers Connect, an Allfunds professional workstation; and Nextportfolio, a portfolio management system; and end-investor platform for wealth management needs of asset managers, banks, wealth managers, and insurance companies. It also provides ESG solutions, such as ESG scoring, reporting, portfolio advisory and construction, audit and certification, analysis, investment proposal generator, reporting generator, and monitoring; model portfolio advisory, bespoke reporting, private assets, audit and certification, fund selection, and regulatory implementation services; and Sustainability Navigator, a tool for constructing sustainable investment portfolios in line with SFDR regulation. In addition, the company offers regulatory reporting corner, a specialized platform to provide fund registration, regulatory reporting, and distribution, as well as generate fund regulatory reporting. Further, it provides investment solutions for Distributors and Fund Houses, including Management Company (ManCo) white label services in connection with the creation and distribution of UCITs funds; White Label Fund Hosting Platform that provides supports mutual funds and ETFs; Allfunds Navigator which provides market insights and identify opportunities; and Allfunds Blockchain solutions. The company serves private bank, insurance, asset management, bank, custodian, and other customers. The company was founded in 2000 and is based in London, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Allfunds Group Ltd reported revenue of €622M in FY2025 versus €2.7B in FY2021, a compound −30.5%/yr. Reported net income was €2.3M in FY2025, compounding −61.8%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€622M
Latest YoY
+11.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−39.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−17.1%
Avg. revenue growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.9%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−51.1% (−53.3 + 2.2)
Revenue −30.5%/yr
FY21 €2.7B
FY22 €2.7B
FY23 €492M
FY24 €556M
FY25 €622M
Net income −61.8%/yr
FY21 €108M
FY22 €49.2M
FY23 €85.7M
FY24 −€169M
FY25 €2.3M

ALLFG screens 370% overvalued. Compare with Blackstone Inc →

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Cite: Fair Value Calculator (2026). "Allfunds Group Ltd Fair Value". https://www.fairvalue-calculator.com/stock/ALLFG

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Asset Management · 697 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 61 · Above median
Fair Value upside −79% · Bottom 25%
Return on equity (TTM) 0% · Below median
Return on assets 3% · Above median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 40% · Above median
Revenue growth −5% · Below median
Dividend yield (TTM) 2.2% · Below median
Debt / equity 0.22× · Higher than median

Valuation Multiples vs Asset Management median · lower = cheaper

P/B 3.24× · Pricier than 75% of peers
P/S (TTM) 9.45× · Pricier than 75% of peers
P/FCF 54.8× · Pricier than 75% of peers
EV/EBITDA 10.9× · Pricier than median
PEG 0.50× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 40
FUTURE0 · sector 14
PAST0 · sector 24
HEALTH89 · sector 95
DIVIDEND44 · sector 81

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $142.39 $52.88 −63%
Investor AB INVEB kr 417.20 kr 824.66 +98%
Brookfield Corporation BN C$55.74 C$10.67 −81%
KKR & Co KKR $108.68 $19.97 −82%
Apollo Global Management, Inc APO $135.04 $101.04 −25%
State Street Corporation STT $193.33 $138.33 −28%
Ameriprise Financial, Inc AMP $559.32 $515.24 −8%
Ares Management Corporation ARES $143.10 $30.88 −78%
Northern Trust Corporation NTRS $186.79 $122.02 −35%
Raymond James Financial, Inc RJF $181.10 $142.42 −21%

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Frequently asked questions

Is Allfunds Group Ltd (ALLFG) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of €1.93 versus a price of €9.07, about −79% upside (overvalued).
What is the fair value of ALLFG?
Our model-based fair value for Allfunds Group Ltd is €1.93 (as of Aug 19, 2026), built from audited fundamentals. The current price: €9.07.
What is the quality score of ALLFG?
Allfunds Group Ltd has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Allfunds Group Ltd (ALLFG)?
Allfunds Group Ltd reported trailing-twelve-month revenue of about €651M (latest available figure, as of Aug 19, 2026).
What is the net profit margin of ALLFG?
The net profit margin of Allfunds Group Ltd is about 0.4%, meaning it keeps roughly 0.4% of revenue as net income. Based on the latest reported figures.
Does Allfunds Group Ltd pay a dividend?
Allfunds Group Ltd currently shows a dividend yield of about 2.21% relative to its recent price (as of Aug 19, 2026).
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