Angel One Ltd.
NSE: ANGELONEAngel One Ltd.: A 30-second snapshot
Angel One (NSE: ANGELONE) is a discount brokerage currently priced at ₹306.85, trading 13.4% above its 50-DMA (₹270.63) and 21.4% above its 200-DMA (₹252.84), with RSI at 54.49 and 8.4% below its 52-week high. The stock has returned 26.4% over 12 months and 11.1% over the past 3 months. Trailing PE stands at 31.06x against a forward PE of 17.70x, with 5-year revenue growth of 30% and earnings growth CAGR of 82.4%.
P/E
31.1
Forward P/E
17.7
ROE
+15.5%
Debt / Equity
129.31
Profit Margin
+19.4%
Div. Yield
+2.3%
5Y ROE > 15%
3/5
5Y FCF > 0
1/5
Quality
58/100
News
8 headlines · 3 positive · 2 negative
Angel One Limited Announces Resignation of Ankit Rastogi as Chief Product Officer and Senior Management Personnel, Effective August 31, 2026 - marketscreener.com
marketscreener.com
Angel One F&O Market Share Hits 22.3% in April; Stock Steady Despite Slower Onboarding - Trade Brains
Trade Brains
Angel One Ltd Says Client Base At 37.79 Million In April 2026, Up 20.0% YoY - TradingView
TradingView
Angel One share price slips nearly 1% despite bullish brokerage calls post Q4 results, sees 33% upside - Check new target - ET Now
ET Now
Angel One Limited to Host Virtual Investor and Analyst Meeting on May 11, 2026 - scanx.trade
scanx.trade
Recent context
- ·Q4 FY26 results were followed by multiple brokerage notes citing improved earnings; April 2026 saw F&O market share reach 22.3% and the client base at 37.79M (up 20% YoY), though new-client onboarding pace was reported as slower by trade press
- ·CPO Ankit Rastogi announced resignation effective August 31, 2026 (disclosed May 8, 2026); the stock was described as steady in the days following, though the departure represents a product-leadership gap at a technology-dependent platform
- ·Angel One hosted a virtual investor and analyst meeting on May 11, 2026; news sentiment over the past 8 items is split 3 positive, 3 neutral, 2 negative — the overall label is neutral
Strengths
- +Quality score of 56 ranks highest among 6 sector peers; ROE of 15.53% ranks 2nd of 6 in the Banking bucket, above AXISBANK (13.15%), HDFCBANK (13.82%), BAJAJFINSV (14.60%), and HDFCLIFE (11.28%)
- +5-year earnings CAGR of 82.4% and revenue CAGR of 30% reflect the structural shift of Indian retail trading volume to digital platforms; client base of 37.79M as of April 2026 represents 20% YoY growth
- +Forward PE of 17.70x represents a 43% compression from the trailing PE of 31.06x, implying the current price is predicated on a significant earnings step-up that the revenue trajectory supports directionally
- +F&O market share of 22.3% in April 2026 and a dividend yield of 2.28% reflect operating scale and a capital-return posture alongside continued business investment
Weaknesses
- −D/E of 129.31 is high and rising; FCF was positive in only 1 of the available fiscal years, indicating that headline earnings growth has not reliably translated into free cash generation
- −ROE has exceeded 15% in only 3 of the recorded fiscal years with a consistency score of 41/100, making the current 15.53% ROE a borderline rather than entrenched return level
- −Senior management continuity risk: Chief Product Officer Ankit Rastogi resigned effective August 31, 2026 — technology and product leadership depth is a relevant operational dependency for a platform-led brokerage
- −Profit margin of 19.41% and quality score of 56 reflect a business still maturing operationally; the sector peer set (banks with large net-interest-income bases) also makes quality comparisons structurally inexact
Open questions
- ?Does the 82.4% 5-year earnings CAGR reflect a structural gain in market share of Indian retail derivatives trading, or is it amplified by the 2021–2023 retail participation surge that may not sustain at similar rates?
- ?At what pace is free cash flow expected to converge with reported earnings, and what drives the persistent gap between earnings growth and cash generation?
- ?How does the discount-brokerage business model hold up if SEBI adjusts F&O access rules or margin requirements, given that F&O volumes are a meaningful part of the revenue base?
- ?What is the depth of the product and technology leadership bench following the CPO departure, and how has Angel One historically managed senior management transitions?
Peer comparison: Banking
Ranks 1 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| ANGELONE | Angel One Ltd.You're viewing | 31.1 | +15.5% | 56 |
| Industry avg | across 5 peers | 31.7 | +14.2% | 39 |
| AXISBANK | Axis Bank Ltd. | 14.7 | +13.2% | 53 |
| BAJFINANCE | Bajaj Finance Ltd. | 29.8 | +17.9% | 53 |
| HDFCBANK | HDFC Bank Ltd. | 17.2 | +13.8% | 47 |
| BAJAJFINSV | Bajaj Finserv Ltd. | 28.4 | +14.6% | 23 |
| HDFCLIFE | HDFC Life Insurance Company Ltd. | 68.5 | +11.3% | 20 |
Technical state
Current price
₹306.85
SMA 50
₹270.63
SMA 200
₹252.84
RSI (14)
54.5 (neutral)
From 52w high
-8.4%
1Y return
+26.4%
3M return
+11.1%
50-DMA
Above
200-DMA
Above
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highD/E of 129.31 is structurally elevated even within the financial sector; the debt trend is classified as rising, and FCF was positive in only 1 of the available fiscal years — a 5-year earnings CAGR of 82.4% has not translated into consistent cash generation.
- mediumROE exceeded 15% in only 3 of the recorded fiscal years with a consistency score of 41/100; the current ROE of 15.53% is marginally above the threshold and does not represent a sustained multi-year track record of returns above cost-of-equity.
- mediumChief Product Officer Ankit Rastogi announced resignation effective August 31, 2026 — a notable senior technology-leadership departure at a platform-driven brokerage. The same period saw trade press flag slower new-client onboarding, contrasting with the positive volume metrics.
- lowANGELONE is grouped in the Banking sector alongside deposit-taking banks (AXISBANK, HDFCBANK) and an insurer (HDFCLIFE), making leverage and PE comparisons structurally imprecise. ANGELONE ranks 5th of 6 on PE (31.06x vs sector median ~22x) but that comparison does not adjust for business-model differences between a discount brokerage and a bank.
Cross-section contradictions
- Forward PE of 17.70x vs trailing PE of 31.06x implies the market prices in a near-doubling of earnings; yet FCF was positive in only 1 of the available recorded fiscal years, raising a question about whether reported earnings growth is converting into cash generation.
- Client base grew 20% YoY to 37.79M and F&O market share reached 22.3% in April 2026, yet the same reporting period noted slower new-client onboarding — top-line engagement metrics and the pace of new-user acquisition are diverging.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 17 May 2026 · rotates through NIFTY 500 every ~5 days