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AFX

Alpha FX Group AIM:AFX Stock Report

Last Price

UK£15.30

Market Cap

UK£645.6m

7D

-10.0%

1Y

-4.4%

Updated

03 Jul, 2022

Data

Company Financials +
AFX fundamental analysis
Snowflake Score
Valuation1/6
Future Growth1/6
Past Performance6/6
Financial Health6/6
Dividends0/6

AFX Stock Overview

Alpha FX Group plc provides foreign exchange risk management and alternative banking solutions in the United Kingdom and internationally.

Alpha FX Group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Alpha FX Group
Historical stock prices
Current Share PriceUK£15.30
52 Week HighUK£24.00
52 Week LowUK£14.00
Beta1.68
1 Month Change-21.94%
3 Month Change-24.26%
1 Year Change-4.38%
3 Year Change105.37%
5 Year Change238.12%
Change since IPO512.00%

Recent News & Updates

Apr 14
Here's Why I Think Alpha FX Group (LON:AFX) Might Deserve Your Attention Today

Here's Why I Think Alpha FX Group (LON:AFX) Might Deserve Your Attention Today

Some have more dollars than sense, they say, so even companies that have no revenue, no profit, and a record of falling...

Shareholder Returns

AFXGB Capital MarketsGB Market
7D-10.0%-2.7%-1.1%
1Y-4.4%-17.9%-9.7%

Return vs Industry: AFX exceeded the UK Capital Markets industry which returned -17.9% over the past year.

Return vs Market: AFX exceeded the UK Market which returned -9.7% over the past year.

Price Volatility

Is AFX's price volatile compared to industry and market?
AFX volatility
AFX Average Weekly Movement7.3%
Capital Markets Industry Average Movement4.2%
Market Average Movement5.4%
10% most volatile stocks in GB Market10.6%
10% least volatile stocks in GB Market2.8%

Stable Share Price: AFX is not significantly more volatile than the rest of UK stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: AFX's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2009214Morgan Tillbrookhttps://www.alphafx.co.uk

Alpha FX Group plc provides foreign exchange risk management and alternative banking solutions in the United Kingdom and internationally. The company offers forward currency contracts, option contracts, foreign exchange spot transactions, and payments collections and currency accounts services. It serves corporates and institutions.

Alpha FX Group Fundamentals Summary

How do Alpha FX Group's earnings and revenue compare to its market cap?
AFX fundamental statistics
Market CapUK£645.61m
Earnings (TTM)UK£23.53m
Revenue (TTM)UK£77.47m

27.4x

P/E Ratio

8.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AFX income statement (TTM)
RevenueUK£77.47m
Cost of RevenueUK£17.16m
Gross ProfitUK£60.31m
Other ExpensesUK£36.78m
EarningsUK£23.53m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.56
Gross Margin77.85%
Net Profit Margin30.37%
Debt/Equity Ratio0%

How did AFX perform over the long term?

See historical performance and comparison

Dividends

0.7%

Current Dividend Yield

19%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is AFX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AFX?

Other financial metrics that can be useful for relative valuation.

AFX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue7x
Enterprise Value/EBITDA16.1x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does AFX's PE Ratio compare to its peers?

AFX PE Ratio vs Peers
The above table shows the PE ratio for AFX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average55x
CMCX CMC Markets
10.8x-4.2%UK£780.8m
AJB AJ Bell
28.2x14.9%UK£1.1b
NUM Numis
6xn/aUK£269.4m
TCAP TP ICAP Group
174.9x62.2%UK£874.2m
AFX Alpha FX Group
27.4xn/aUK£645.6m

Price-To-Earnings vs Peers: AFX is good value based on its Price-To-Earnings Ratio (27.4x) compared to the peer average (55x).


Price to Earnings Ratio vs Industry

How does AFX's PE Ratio compare vs other companies in the GB Capital Markets Industry?

Price-To-Earnings vs Industry: AFX is expensive based on its Price-To-Earnings Ratio (27.4x) compared to the UK Capital Markets industry average (9.6x)


Price to Earnings Ratio vs Fair Ratio

What is AFX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AFX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio27.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate AFX's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of AFX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AFX (£15.3) is trading above our estimate of fair value (£5.78)

Significantly Below Fair Value: AFX is trading above our estimate of fair value.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AFX's PEG Ratio to determine if it is good value.


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Future Growth

How is Alpha FX Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


15.5%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if AFX's forecast earnings growth is above the savings rate (0.9%).

Earnings vs Market: Insufficient data to determine if AFX's earnings are forecast to grow faster than the UK market

High Growth Earnings: Insufficient data to determine if AFX's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AFX's revenue (15.5% per year) is forecast to grow faster than the UK market (4.2% per year).

High Growth Revenue: AFX's revenue (15.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if AFX's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Alpha FX Group performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


36.8%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AFX has high quality earnings.

Growing Profit Margin: AFX's current net profit margins (30.4%) are higher than last year (27%).


Past Earnings Growth Analysis

Earnings Trend: AFX's earnings have grown significantly by 36.8% per year over the past 5 years.

Accelerating Growth: AFX's earnings growth over the past year (88.7%) exceeds its 5-year average (36.8% per year).

Earnings vs Industry: AFX earnings growth over the past year (88.7%) exceeded the Capital Markets industry 43.8%.


Return on Equity

High ROE: AFX's Return on Equity (23.7%) is considered high.


Discover strong past performing companies

Financial Health

How is Alpha FX Group's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: AFX's short term assets (£179.9M) exceed its short term liabilities (£83.2M).

Long Term Liabilities: AFX's short term assets (£179.9M) exceed its long term liabilities (£15.7M).


Debt to Equity History and Analysis

Debt Level: AFX is debt free.

Reducing Debt: AFX has no debt compared to 5 years ago when its debt to equity ratio was 31.1%.

Debt Coverage: AFX has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: AFX has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Alpha FX Group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


0.72%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: AFX's dividend (0.72%) isn’t notable compared to the bottom 25% of dividend payers in the UK market (1.89%).

High Dividend: AFX's dividend (0.72%) is low compared to the top 25% of dividend payers in the UK market (5.29%).


Stability and Growth of Payments

Stable Dividend: AFX is not paying a notable dividend for the UK market, therefore no need to check if payments are stable.

Growing Dividend: AFX is not paying a notable dividend for the UK market, therefore no need to check if payments are increasing.


Earnings Payout to Shareholders

Earnings Coverage: AFX is not paying a notable dividend for the UK market.


Cash Payout to Shareholders

Cash Flow Coverage: AFX is not paying a notable dividend for the UK market.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure


CEO

Morgan Tillbrook (39 yo)

13.5yrs

Tenure

UK£694,184

Compensation

Mr. Morgan J. Tillbrook Founded Alpha FX Group PLC in 2009 serves as Chief Executive Officer and Director since 2009. Mr. Tillbrook has been instrumental in the expansion of the Alpha FX Group and strong o...


CEO Compensation Analysis

Compensation vs Market: Morgan's total compensation ($USD835.11K) is below average for companies of similar size in the UK market ($USD1.32M).

Compensation vs Earnings: Morgan's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: AFX's management team is considered experienced (2.2 years average tenure).


Board Members

Experienced Board: AFX's board of directors are considered experienced (5.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AFX insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3%.


Top Shareholders

Company Information

Alpha FX Group plc's employee growth, exchange listings and data sources


Key Information

  • Name: Alpha FX Group plc
  • Ticker: AFX
  • Exchange: AIM
  • Founded: 2009
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Implied Market Cap: UK£645.607m
  • Shares outstanding: 42.20m
  • Website: https://www.alphafx.co.uk

Number of Employees


Location

  • Alpha FX Group plc
  • Brunel Building
  • 2 Canalside Walk
  • London
  • Greater London
  • W2 1DG
  • United Kingdom

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/07/03 00:00
End of Day Share Price2022/07/01 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.