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Alpha FX Group

AIM:AFX
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AFX
AIM
£405M
Market Cap
  1. Home
  2. GB
  3. Diversified Financials
Company description

Alpha FX Group plc provides foreign exchange services in the United Kingdom and internationally. The last earnings update was 73 days ago. More info.


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  • Alpha FX Group has significant price volatility in the past 3 months.
AFX Share Price and Events
7 Day Returns
-0.5%
AIM:AFX
-0.5%
GB Capital Markets
-0.4%
GB Market
1 Year Returns
67.7%
AIM:AFX
19.6%
GB Capital Markets
4.5%
GB Market
AFX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Alpha FX Group (AFX) -0.5% 19.8% 63.9% 67.7% - -
GB Capital Markets -0.5% -0.1% 2.5% 19.6% 60.1% 102.6%
GB Market -0.4% 1.7% 4.7% 4.5% 6.9% 2.9%
1 Year Return vs Industry and Market
  • AFX outperformed the Capital Markets industry which returned 19.6% over the past year.
  • AFX outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 4.5% over the past year.
Price Volatility
AFX
Industry
5yr Volatility vs Market

AFX Value

 Is Alpha FX Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Alpha FX Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Alpha FX Group.

AIM:AFX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= £0.72 * 20.9%
£0.15
Book Value of Equity per Share Median Book Value from the past 5 years. £0.72
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for AIM:AFX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.753 (1 + (1- 19%) (1.99%))
0.843
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.843 * 6.65%)
6.83%

Discounted Cash Flow Calculation for AIM:AFX using Excess Returns Model Model

The calculations below outline how an intrinsic value for Alpha FX Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

AIM:AFX Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (20.9% – 6.83%) * £0.72)
£0.10
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= £0.10 / (6.83% - 1.23%)
£1.81
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= £0.72 + £1.81
£2.53
AIM:AFX Discount to Share Price
Calculation Result
Value per share (GBP) From above. £2.53
Current discount Discount to share price of £10.90
= -1 x (£10.90 - £2.53) / £2.53
-330.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Alpha FX Group is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Alpha FX Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Alpha FX Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
AIM:AFX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.27
AIM:AFX Share Price ** AIM (2019-11-15) in GBP £10.9
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PE Ratio Median Figure of 42 Publicly-Listed Capital Markets Companies 20.17x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 751 Publicly-Listed Companies 17.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Alpha FX Group.

AIM:AFX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AIM:AFX Share Price ÷ EPS (both in GBP)

= 10.9 ÷ 0.27

41.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alpha FX Group is overvalued based on earnings compared to the GB Capital Markets industry average.
  • Alpha FX Group is overvalued based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Alpha FX Group's expected growth come at a high price?
Raw Data
AIM:AFX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 41.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-4%per year
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PEG Ratio Median Figure of 24 Publicly-Listed Capital Markets Companies 1.22x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 558 Publicly-Listed Companies 1.4x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Alpha FX Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Alpha FX Group's assets?
Raw Data
AIM:AFX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £1.36
AIM:AFX Share Price * AIM (2019-11-15) in GBP £10.9
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry PB Ratio Median Figure of 75 Publicly-Listed Capital Markets Companies 1.34x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,305 Publicly-Listed Companies 1.52x
AIM:AFX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AIM:AFX Share Price ÷ Book Value per Share (both in GBP)

= 10.9 ÷ 1.36

8.04x

* Primary Listing of Alpha FX Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alpha FX Group is overvalued based on assets compared to the GB Capital Markets industry average.
X
Value checks
We assess Alpha FX Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Alpha FX Group has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AFX Future Performance

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

  • No analysts cover Alpha FX Group, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Alpha FX Group expected to grow at an attractive rate?
  • Alpha FX Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Alpha FX Group's earnings are expected to decrease over the next 1-3 years, this is below the United Kingdom of Great Britain and Northern Ireland market average.
  • Alpha FX Group's revenue growth is expected to exceed the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
AIM:AFX Future Growth Rates Data Sources
Data Point Source Value (per year)
AIM:AFX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -4%
AIM:AFX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 26.3%
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 17.8%
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 6.4%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 12.6%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 3.6%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
AIM:AFX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
AIM:AFX Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 43 1
2019-12-31 34 1
2019-11-16
AIM:AFX Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 29 26 10
2019-03-31 26 17 9
2018-12-31 23 9 8
2018-09-30 20 8 7
2018-06-30 17 8 6
2018-03-31 15 2 5
2017-12-31 14 -5 4
2017-09-30 13 -7 4
2017-06-30 11 -10 4
2017-03-31 10 -3 3
2016-12-31 8 4 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Alpha FX Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Alpha FX Group's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
AIM:AFX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Alpha FX Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:AFX Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31
2019-11-16
AIM:AFX Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.27
2019-03-31 0.25
2018-12-31 0.23
2018-09-30 0.20
2018-06-30 0.17
2018-03-31 0.16
2017-12-31 0.14
2017-09-30 0.14
2017-06-30 0.14
2017-03-31 0.14
2016-12-31 0.13

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Alpha FX Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Alpha FX Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Alpha FX Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AFX Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Alpha FX Group's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Alpha FX Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Alpha FX Group's 1-year earnings growth exceeds its 5-year average (70.1% vs 40.1%)
  • Alpha FX Group's earnings growth has exceeded the GB Capital Markets industry average in the past year (70.1% vs 4.7%).
Earnings and Revenue History
Alpha FX Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Alpha FX Group Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

AIM:AFX Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 29.30 9.52 9.59
2019-03-31 26.39 8.67 9.59
2018-12-31 23.47 7.82 9.59
2018-09-30 20.23 6.71 7.35
2018-06-30 16.98 5.60 5.11
2018-03-31 15.26 5.00 5.11
2017-12-31 13.54 4.40 5.11
2017-09-30 12.50 4.06 2.61
2017-06-30 11.46 3.72 0.10
2017-03-31 9.97 3.33 0.10
2016-12-31 8.48 2.94 0.10
2015-12-31 5.14 1.43 1.42
2014-12-31 2.96 0.74 1.01
2013-12-31 331.94 0.61 0.63
2012-12-31 182.05 0.35 0.43

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Alpha FX Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Alpha FX Group used its assets more efficiently than the GB Capital Markets industry average last year based on Return on Assets.
  • Alpha FX Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Alpha FX Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Alpha FX Group has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AFX Health

 How is Alpha FX Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Alpha FX Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Alpha FX Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Alpha FX Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Alpha FX Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Alpha FX Group has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Alpha FX Group Company Filings, last reported 4 months ago.

AIM:AFX Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 51.90 0.00 59.36
2019-03-31 51.90 0.00 59.36
2018-12-31 48.71 0.00 38.40
2018-09-30 48.71 0.00 38.40
2018-06-30 24.15 0.00 17.54
2018-03-31 24.15 0.00 17.54
2017-12-31 22.06 0.00 13.07
2017-09-30 22.06 0.00 13.07
2017-06-30 19.67 0.00 11.78
2017-03-31 19.67 0.00 11.78
2016-12-31 5.42 1.75 7.96
2015-12-31 2.91 1.47 5.25
2014-12-31 1.12 1.18 1.93
2013-12-31 1.20 0.66 3.08
2012-12-31 0.80 0.20 1.56
  • Alpha FX Group has no debt.
  • Alpha FX Group has no debt compared to 5 years ago when it was 79.1%.
  • Alpha FX Group has no debt, it does not need to be covered by operating cash flow.
  • Alpha FX Group has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Alpha FX Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Alpha FX Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AFX Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.6%
Current annual income from Alpha FX Group dividends. Estimated to be 0.63% next year.
If you bought £2,000 of Alpha FX Group shares you are expected to receive £12 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Alpha FX Group's pays a lower dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (1.97%).
  • Alpha FX Group's dividend is below the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.34%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
AIM:AFX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 2.2%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 680 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1.1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

AIM:AFX Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.07 1.00
2019-12-31 0.07 1.00
2019-11-16
AIM:AFX Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.065 0.828
2019-03-20 0.065 0.929
2018-04-04 0.049 0.848
2018-03-21 0.049 0.955
2017-09-05 0.030 0.600

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Alpha FX Group is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are stable.
  • Alpha FX Group is not paying a notable dividend for United Kingdom of Great Britain and Northern Ireland, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Alpha FX Group's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Alpha FX Group's dividends as it is not paying a notable one for United Kingdom of Great Britain and Northern Ireland.
Future Payout to shareholders
  • No need to calculate the sustainability of Alpha FX Group's dividends in 3 years as they are not expected to pay a notable one for United Kingdom of Great Britain and Northern Ireland.
X
Income/ dividend checks
We assess Alpha FX Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Alpha FX Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Alpha FX Group has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AFX Management

 What is the CEO of Alpha FX Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Morgan Tillbrook
COMPENSATION £314,719
AGE 36
CEO Bio

Mr. Morgan J. Tillbrook serves as a Founder, Chief Executive Officer and has served as a Director of Alpha FX Group PLC since May 24, 2010. Mr. Tillbrook has been instrumental in the expansion of the Alpha FX Group and strong organic growth profile and is responsible for the overall strategic development of the Alpha FX Group (both within the UK and internationally). Mr. Tillbrook founded Alpha in 2009 after identifying the opportunity for providing a high quality foreign exchange advisory service differentiated from other foreign exchange brokers. Prior to co-founding Alpha, Mr. Tillbrook established an online poker league and social network, Poker Project Ltd, which later formed part of Sky Poker. He is a member of the Chartered Institute for Securities and Investment.

CEO Compensation
  • Morgan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Morgan's remuneration is lower than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team

Morgan Tillbrook

TITLE
Founder
COMPENSATION
£315K
AGE
36

Tim Kidd

TITLE
CFO, Company Secretary & Director
COMPENSATION
£195K
AGE
53
TENURE
2.7 yrs

Henry Lisney

TITLE
COO & Director
COMPENSATION
£190K
AGE
26
TENURE
4.8 yrs

Harvey Coles

TITLE
Head of Marketing

Neil Brown

TITLE
Head of IT

Ella-Louise Tunney

TITLE
Head of Settlements
Board of Directors Tenure

Average tenure and age of the Alpha FX Group board of directors in years:

2.7
Average Tenure
48.5
Average Age
  • The average tenure for the Alpha FX Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Clive Kahn

TITLE
Non-Executive Chairman
COMPENSATION
£30K
AGE
62
TENURE
2.6 yrs

Morgan Tillbrook

TITLE
Founder
COMPENSATION
£315K
AGE
36
TENURE
9.5 yrs

Tim Kidd

TITLE
CFO, Company Secretary & Director
COMPENSATION
£195K
AGE
53
TENURE
3 yrs

Henry Lisney

TITLE
COO & Director
COMPENSATION
£190K
AGE
26
TENURE
1.7 yrs

Lisa Gordon

TITLE
Non-Executive Director
COMPENSATION
£72K
AGE
52
TENURE
2.8 yrs

Matt Knowles

TITLE
Independent Non-Executive Director
COMPENSATION
£5K
AGE
45
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (£) Value (£)
X
Management checks
We assess Alpha FX Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Alpha FX Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AFX News

Simply Wall St News

What Does Alpha FX Group plc's (LON:AFX) Share Price Indicate?

Alpha FX Group plc (LON:AFX), which is in the capital markets business, and is based in United Kingdom, saw significant share price movement during recent months on the AIM, rising to highs of £8.2 and falling to the lows of £6.5. … In addition to this, it seems like Alpha FX Group’s share price is quite stable, which could mean two things: firstly, it may take the share price a while to fall back down to an attractive buying range, and secondly, there may be less chances to buy low in the future once it reaches that value. … AFX’s optimistic future growth appears to have been factored into the current share price, with shares trading above its fair value.

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One Thing To Remember About The Alpha FX Group plc (LON:AFX) Share Price

If you're interested in Alpha FX Group plc (LON:AFX), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … A stock with a beta greater than one is more sensitive to broader market movements than a stock with a beta of less than one. … What this means for you: One potential advantage of owning low beta stocks like Alpha FX Group is that your overall portfolio won't be too sensitive to overall market movements.

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With EPS Growth And More, Alpha FX Group (LON:AFX) Is Interesting

So if you're like me, you might be more interested in profitable, growing companies, like Alpha FX Group (LON:AFX). … Check out our latest analysis for Alpha FX Group How Fast Is Alpha FX Group Growing? … Although Alpha FX Group certainly looks good to me, I would like it more if insiders were buying up shares.

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Introducing Alpha FX Group (LON:AFX), A Stock That Climbed 61% In The Last Year

To wit, the Alpha FX Group plc (LON:AFX) share price is 61% higher than it was a year ago, much better than the market return of around -6.3% (not including dividends) in the same period. … Alpha FX Group hasn't been listed for long, so it's still not clear if it is a long term winner. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price.

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When Should You Buy Alpha FX Group plc (LON:AFX)?

received a lot of attention from a substantial price increase on the AIM over the last few months. … Less-covered, small caps tend to present more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … Today I will analyse the most recent data on Alpha FX Group’s outlook and valuation to see if the opportunity still exists

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Should You Be Tempted To Sell Alpha FX Group plc (LON:AFX) Because Of Its PE Ratio?

and want to better understand how you can grow your money by investing in Alpha FX Group plc (LON:AFX). … Alpha FX Group plc (LON:AFX) is currently trading at a trailing P/E of 40.2x, which is higher than the industry average of 15.4x. … While AFX might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions

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Does Alpha FX Group PLC's (LON:AFX) Past Performance Indicate A Stronger Future?

When Alpha FX Group PLC (AIM:AFX) released its most recent earnings update (30 June 2017), I compared it against two factor: its historical earnings track record, and the performance of its industry peers on average. … Check out our latest analysis for Alpha FX Group How AFX fared against its long-term earnings performance and its industry I use the ‘latest twelve-month’ data, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … Since these figures are relatively short-term, I’ve created an annualized five-year figure for AFX's net income, which stands at UK£1.65M This means that, on average, Alpha FX Group has been able to increasingly grow its earnings over the last few years as well.

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Should You Expect Alpha FX Group PLC (AIM:AFX) To Continue Delivering An ROE Of 82.86%?

Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … Since AFX’s return covers its cost in excess of 73.52%, its use of equity capital is efficient and likely to be sustainable. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity AIM:AFX Last Perf Dec 5th 17 Basically, profit margin measures how much of revenue trickles down into earnings which illustrates how efficient AFX is with its cost management.

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What Is The Future Prospect For Financials And Alpha FX Group PLC (AIM:AFX)?

AIM:AFX PE PEG Gauge Nov 18th 17 The capital markets industry is trading at a PE ratio of 18x, in-line with the UK stock market PE of 19x. … On the stock-level, AFX is trading at a higher PE ratio of 37x, making it more expensive than the average capital markets stock. … If AFX has been on your watchlist for a while, now may not be the best time to enter into the stock since it is trading at a higher valuation compared to other capital markets companies.

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AFX Company Info

Description

Alpha FX Group plc provides foreign exchange services in the United Kingdom and internationally. Its activities comprise initial design and implementation of hedging strategies, as well as ongoing management and monitoring of currency risks. The company sells forward currency contracts, foreign exchange spot transactions, and option contracts. It serves for corporates and institutions. The company was formerly known as Alpha Capital Limited. Alpha FX Group PLC was founded in 2009 and is based in London, the United Kingdom.

Details
Name: Alpha FX Group plc
AFX
Exchange: AIM
Founded: 2009
£404,651,120
37,123,956
Website: http://www.AlphaFX.co.uk
Address: Alpha FX Group plc
Brunel Building,
2 Canalside Walk,
London,
Greater London, W2 1DG,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AIM AFX Ordinary Shares London Stock Exchange AIM Market GB GBP 07. Apr 2017
Number of employees
Current staff
Staff numbers
97
Alpha FX Group employees.
Industry
Investment Banking and Brokerage
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/16 22:00
End of day share price update: 2019/11/15 00:00
Last estimates confirmation: 2019/11/01
Last earnings filing: 2019/09/04
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.