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Aallon Group

9.40 EUR

-2.29 %

3,704 following
Corporate customer

AALLON

First North Finland

IT Services

Technology

-2.29 %
-11.32 %
-11.74 %
-16.07 %
-17.18 %
-6.93 %
-14.55 %
-20.34 %
+5.94 %

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.

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Market cap
36.81M EUR
Turnover
57.79K EUR
P/E (adj.) (26e)
10.1
EV/EBIT (adj.) (26e)
8.69
P/B (26e)
2
EV/S (26e)
0.94
Dividend yield-% (26e)
2.66 %
Coverage
Recommendation
Reduce
Target price
10.50 EUR
Updated
12.02.2026
Disclaimer
Atte Riikola
Atte Riikola

Analyst

Latest research

Latest analysis report

Released: 13.02.2026

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
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Året starter med to små opkøb
Research by
Atte Riikola

Året starter med to små opkøb

Aktiens værdiansættelse (2026e justeret P/E 10x) ser efter vores mening attraktiv ud i forhold til selskabets stabile og stærke pengestrømsgenererende forretningsområde og indtjeningsvækstudsigter på mellemlang sigt.

Aallon Group
Analyst Comment 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 GroupDigiaEtteplanFondiaGoforeInnofactorLoihdeNetum GroupNixuSiili SolutionsSitowise GroupSolteqSolwersTalenomWitted MegacorpVincit
Forum discussions
AG’s Q4 didn’t go quite as planned this time, in a way that an owner could have just glanced at the interim report and gone back to sleep. (Which would have been fine). The figures themselves were reasonable enough. In my (and probably many others’) books, AI has been the thing that...
2/13/2026, 6:58 PM
by Kotipuutarhuri
12
Yeah, no. Not good. Of course, it would be interesting if they vibe-code a brilliant accounting software. It’ll be a good example of how small companies can use AI to break away from software produced by others. In principle, the company has valuable customer relationships, and if...
2/12/2026, 12:21 PM
by P-H Compton
12
I thought I saw this development coming already 1.5 years ago when Ari got the boot, and now this horror scenario is coming true. I immediately had to do a quick check (a sophisticated investor would probably think ahead) on how this compares to Talenom. They’ve probably poured closer...
2/12/2026, 12:51 PM
by BoomDriver
9
Atte has written a new company report on Aallon Group after the H2 results were released. We are lowering Aallon Group’s target price to EUR 10.5 (prev. EUR 13.0) along with forecast changes and lowering the recommendation to Reduce (prev. Buy). We still believe the company is well...
2/13/2026, 6:24 AM
by Sijoittaja-alokas
8
Well put, that “too many exciting twists at once for a boring company.” I decided for myself that I won’t stay to watch this action movie brought by software development, as I didn’t originally buy a software firm but 100% deadly boring accounting. I hope, of course, that Aallon ...
2/13/2026, 7:23 PM
by Jokke
7
The costs from external software houses can be 15% of the revenue of accounting firms after resale commissions. Of course, these are passed on to the customers. But if we consider that Aallon’s revenue is 40 million euros, this cash flow leaking outside could be 6 million euros per...
2/12/2026, 2:50 PM
by NuukaJussi
7
I don’t really know for sure, but judging by the number of accounting software options, the industry might not be particularly challenging. Maybe some savings could be achieved? The challenge is transforming into a software house, as software is so much more than just programming...
2/12/2026, 3:01 PM
by samamies
5
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