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Aallon Group

9.10 EUR

-0.66 %

3,703 following

AALLON

First North Finland

IT Services

Technology

Overview

Financials & Estimates

Ownership

Investor consensus

-0.66 %

-14.15 %

-14.55 %

-18.02 %

-17.27 %

-11.22 %

-15.35 %

-19.47 %

+2.56 %

Aallon Group is an accounting firm that offer financial management services, such as bookkeeping and payroll. In addition to traditional accounting office services, the company produces various advisory services related to business operations and taxation, and financial management consulting. In addition, the company does its own application development in digital services and automation of financial administration. The oldest company in the group was founded in 1957.

Market cap

35.63M EUR

Turnover

50.69K EUR

P/E (adj.) (26e)

EV/EBIT (adj.) (26e)

P/B (26e)

EV/S (26e)

Dividend yield-% (26e)

Coverage

Recommendation

Reduce

Target price

Updated

13.02.2026

Atte Riikola

Analyst

Latest research

Latest analysis report

Released: 12.08.2025

Latest extensive report

Released: 12.08.2025

Revenue and EBIT-%

Revenue M

EBIT-% (adj.)

EPS and dividend

EPS (adj.)

Dividend %

Financial calendar

17.3.

2026

General meeting '26

18.3.

2026

Annual dividend

17.8.

2026

Interim report Q2'26

Risk

Business risk

Valuation risk

Low

High

All

Research

ShowingAll content types

Aallon Group Extensive Report: Profit growth and cash flow from accounting services

Extensive research8/12/2025, 7:26 AM by

Aallon Group Extensive Report: Profit growth and cash flow from accounting services

The stock’s valuation (2026e, adj. P/E 10.6x) strikes us as low relative to the company's stable and strong cash-generating business and medium-term earnings growth prospects.

Analyst Comment10/7/2022, 8:28 AM by

Juha Kinnunen, Frans-Mikael Rostedt

Case: Cost structures and profitability of expert companies

In this review, we examine the cost structures of Nasdaq Helsinki’s expert companies. The group clearly focuses on the IT service sector, but it also includes expert companies from accounting firms to engineers and legal services.

Aallon Group Digia Etteplan Fondia Gofore Innofactor Loihde Netum Group Nixu Siili Solutions Sitowise Group Solteq Solwers Talenom Witted Megacorp Vincit

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Forum discussions

Earnings growth driven by acquisitions doesn’t come for free; it requires paying cold hard cash or issuing new shares. I still believe that Aallon Group can create value through its acquisition strategy, and in a recent update, I stated: “However, we still see the company’s acquisition...

2/19/2026, 7:47 AM

by Atte Riikola

17

I agree with Atte regarding the sluggish outlook for organic growth; M&A deals in the accounting industry involve a bit of customer churn, and that just has to be accepted. On the other hand, some cost synergies are also gained, which compensate for this. I think the bigger question...

yesterday

by NuukaJussi

7

The accounting industry is specifically weighted toward the spring. Profits are essentially made in the spring, as financial statements, tax returns, farm accounts, and other annual tasks are invoiced as additional work. Autumn is more about regular working hours. Of course, this...

2 hours ago

by Tilihenkilö

5

Rarely has Aallon sparked this much discussion Tapani Aalto has been out shopping Inderes Aallon Group Oyj - Johtohenkilöiden liiketoimet: Tapani Aalto - Inderes JOHTOHENKILÖIDEN LIIKETOIMET 17.2.2026 klo 12.25Aallon Group Oyj - Johdon liiketoimet___________________________________________...

4 hours ago

by N.K

5

It would certainly be efficient capital allocation if the group could be grown by acquiring companies for free. Exactly. AG has grown its annual EPS at a CAGR of 20% over the last 5 years and 11% over the last 3 years. A 1% growth assumption is certainly playing it safe.

yesterday

by Kotipuutarhuri

4

At least from an enterprise value perspective, Aallon was the most expensive in its trading history according to my records. On some metrics, such as P/S or P/B, the stock is then again priced at lower multiples than historically. Aallon Group Oyj - Valuation

2/18/2026, 6:59 PM

by Ripelein

4

Talenom capitalizes customer acquisition. Doesn’t that directly affect EBITDA? You can’t compare the figures when one has customers on the balance sheet and the other doesn’t. Depreciation doesn’t affect EBITDA. Quite ingenious, actually

yesterday

by Tuna

3

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