Who are Allfunds's main competitors?

Named competitors: Clearstream (Deutsche Boerse) (DB1.DE), Euroclear (private) (private or unlisted), Calastone (private) (private or unlisted). The cockpit's measured peer set (industry) also includes Guolian Minsheng Securities (1456.HK), StoneX (SNEX), NHIS (005940.KS), Swissquote (SQN.SW), Zhongtai Securities (600918.SS), Investec (INVP.L).

Is Allfunds expensive compared with its peers?

On forward p/e it trades at 20.5× against a peer median of 8.1×, most expensive of 20 in its peer set.

How has Allfunds stock performed?

Over six months to 6 Nov 2026 the shares returned +18.2% against -12.3% for the median peer; over one year +54.7%.

← CockpitCompetitor Analysis › ALLFG.AS Allfunds Group plcOpen in the cockpit ↗

Allfunds Group plcALLFG.ASCompetitor analysis, valuation and peers

Netherlands · EUR·Financials›Investment Banks/Brokers

European fund distribution platform connecting asset managers to banks, brokers and wealth managers (B2B).

≈ A European fund 'App Store' like EnvestnetMomentum leader 80

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$6.69B

US dollars, full cap

Free float

63%

of shares outstanding

$/day

$3.00M

20-day average traded

Fwd P/E

20.5×

forward earnings

ROIC−WACC

n/a

WACC 8.9%

Hurdle

n/a

no reverse DCF

Next earnings

117 days

3 Mar 2027

Close · EUR€9.91

1D-1.1%

1W-0.3%

1M+3.8%

3M+12.3%

6M+18.2%

YTD+23.2%

1Y+54.7%

ATR %1.6%

52w lowhigh2.8% off high

What Allfunds does

European fund distribution platform connecting asset managers to banks, brokers and wealth managers (B2B).

Earns fees based on the value of fund assets that move through its platform, plus charges per transaction and data services, paid by fund houses and by the banks and wealth managers that use it. Customers already wired into it would need to rework their systems to leave, so revenue holds fairly steady between market cycles.

In one line: A European fund 'App Store' like Envestnet.

Products and services

Fund trading/settlement platform
Fund data & analytics
Investment/advisory solutions

Customers

Banks/private banks
Insurance companies
Asset managers (fund houses)

Where it sits in the supply chain

Financial services
Fund distribution infrastructure
B2B wealthtech platform

What could go right

Growth in third-party fund distribution AUA
Geographic expansion (Asia, Latin America)

What could go wrong

Fee compression in fund distribution
Bank client concentration

Moat: narrow (network effects, switching costs, scale). A two-sided marketplace linking thousands of funds and distributors that is costly to switch off.

Headquarters: Madrid, Spain · Founded: 2000 · Employees: 1,149

Named competitors

Clearstream (Deutsche Boerse) DB1.DE
Euroclear (private) private or unlisted
Calastone (private) private or unlisted

Allfunds at a glance

Size Allfunds (ALLFG.AS) is a Netherlands Financials company (Investment Banks/Brokers) with a market value of $6.69B, the 27th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €9.91 on 6 Nov 2026.

Performance Over six months the shares gained 18.2%, against -12.3% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 2nd highest of 21 in its peer set.

Growth Revenue grew 0.5% over the last twelve months (peer median +4.4%); the operating margin is 43.5% (peer median 36.2%).

Valuation It trades at 20.5× forward earnings against a peer median of 8.1× (most expensive of 20).

Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Allfunds against the median of its 20 peers (local-currency closes).

Allfunds financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	€644M	€629M	€650M	€548M	€494M
Revenue growth	—	-3%	+19%	+11%	—
Gross profit	€488M	€458M	€468M	€400M	n/a
EBITDA	€434M	€412M	€402M	€322M	€275M
Net income	€40.8M	€2.35M	-€169M	€85.7M	€49.2M
Free cash flow	-€1.06B	€208M	€711M	€629M	-€314M
Capital expenditure	€116M	€116M	€109M	€79.7M	€39.7M
Total debt	n/a	€428M	€410M	€390M	€211M

Quarterly statements and history in the cockpit →

Allfunds competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Allfunds is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Allfunds is the large dot.

Allfunds competitors and peer comparison

Head to head with its named competitors (ALLFG.AS vs DB1.DE)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Allfunds ALLFG.AS	$6.69B	+18%	+1%	43%	20.5×	n/a
Deutsche Boerse DB1.DE	$63.8B	+32%	+7%	41%	24.7×	n/a

How Allfunds compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Allfunds against its 20 peers (data as of 6 Nov 2026)
Measure	ALLFG.AS	Peer median	Rank in peer set
1-month return	+3.8%	-3.9%	3rd highest of 21
6-month return	+18.2%	-12.3%	2nd highest of 21
Distance from 52-week high	-2.8%	-34.4%	highest of 21
Revenue growth (TTM)	+0.5%	+4.4%	8th lowest of 21
Operating margin	43.5%	36.2%	6th highest of 21
Forward P/E	20.5×	8.1×	most expensive of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Allfunds ALLFG.AS	Netherlands	$6.69B	+18%	+1%	43%	20.5×	n/a	n/a
Guolian Minsheng Securities 1456.HK	Hong Kong	$6.70B	-29%	+14%	25%	6.8×	n/a	n/a
StoneX SNEX	United States	$6.55B	-33%	+21%	2%	13.0×	n/a	n/a
NHIS 005940.KS	South Korea	$6.46B	-32%	+156%	34%	5.2×	n/a	n/a
Swissquote SQN.SW	Switzerland	$6.33B	-13%	+4%	44%	15.9×	n/a	n/a
Zhongtai Securities 600918.SS	China	$6.31B	-12%	-4%	21%	17.1×	n/a	n/a
Investec INVP.L	United Kingdom	$7.34B	+3%	-4%	37%	7.1×	n/a	n/a
Zheshang Securities 601878.SS	China	$6.03B	-10%	-4%	32%	13.0×	n/a	n/a
SDIC Capital 600061.SS	China	$5.96B	-7%	-28%	33%	12.0×	n/a	n/a
Avanza Bank AZA.ST	Sweden	$5.95B	+13%	+13%	54%	19.1×	n/a	n/a
Mirae Asset Sec 006800.KS	South Korea	$7.57B	-66%	+5%	114%	4.0×	n/a	n/a
MarketAxess MKTX	United States	$5.83B	+12%	+3%	39%	19.5×	n/a	n/a
Changjiang Securities 000783.SZ	China	$5.77B	-13%	+13%	37%	8.1×	n/a	n/a
XP Inc. Class A XP	United States	$7.83B	-21%	+17%	32%	6.7×	n/a	n/a
Soochow Securities 601555.SS	China	$5.64B	-5%	+3%	36%	10.3×	n/a	n/a
Virtu Financial VIRT	United States	$8.37B	+5%	+28%	38%	7.8×	n/a	n/a
Galaxy Digital GLXY	United States	$5.31B	-55%	+430%	1%	n/a	n/a	n/a
Founder Securities 601901.SS	China	$8.52B	-4%	-21%	47%	11.7×	n/a	n/a
Everbright Securities 6178.HK	Hong Kong	$8.59B	-20%	+15%	42%	6.0×	n/a	n/a
Guangzhou Yuexiu Capital 000987.SZ	China	$5.20B	-23%	-44%	11%	7.6×	n/a	n/a
Huaan Securities 600909.SS	China	$5.17B	+23%	-18%	121%	6.2×	n/a	n/a

Questions

Who are Allfunds's main competitors?: Named competitors: Clearstream (Deutsche Boerse) (DB1.DE), Euroclear (private) (private or unlisted), Calastone (private) (private or unlisted). The cockpit's measured peer set (industry) also includes Guolian Minsheng Securities (1456.HK), StoneX (SNEX), NHIS (005940.KS), Swissquote (SQN.SW), Zhongtai Securities (600918.SS), Investec (INVP.L).
Is Allfunds expensive compared with its peers?: On forward p/e it trades at 20.5× against a peer median of 8.1×, most expensive of 20 in its peer set.
How has Allfunds stock performed?: Over six months to 6 Nov 2026 the shares returned +18.2% against -12.3% for the median peer; over one year +54.7%.