diff --git a/more_itertools/recipes.py b/more_itertools/recipes.py
index f7db03b..67f76fa 100644
--- a/more_itertools/recipes.py
+++ b/more_itertools/recipes.py
@@ -222,6 +222,7 @@ def all_equal(iterable, key=None):
     for first in iterator:
         for second in iterator:
             return False
+        return True
     return True