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Aallon Group

9.48 EUR

+0.85 %

3,698 following
Corporate customer

AALLON

First North Finland

IT Services

Technology

+0.85 %
-10.99 %
-10.99 %
-11.40 %
-14.21 %
-7.06 %
-13.82 %
-11.40 %
+6.84 %

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
37.12M EUR
Turnover
341.28 EUR
P/E (adj.) (26e)
10.19
EV/EBIT (adj.) (26e)
8.76
P/B (26e)
2.02
EV/S (26e)
0.94
Dividend yield-% (26e)
2.64 %
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
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
Here are some further thoughts on Aallon Group in this video: Inderes Aallon Group: Orgaaninen kasvu kiven alla - Inderes Aika: 25.02.2026 klo 13.13 Orgaaninen kasvu vaikuttaa olevan tiukassa Aallon Groupille, kun tilitoimistoalalla puhaltaa muutosten tuulet.
2/25/2026, 11:45 AM
by Atte Riikola
11
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___________________________________________...
2/21/2026, 8:33 AM
by N.K
10
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...
2/21/2026, 10:47 AM
by Tilihenkilö
8
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...
2/20/2026, 8:27 AM
by NuukaJussi
7
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.
2/19/2026, 4:49 PM
by Kotipuutarhuri
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​
2/20/2026, 11:19 AM
by Tuna
3
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