(CS) AXA - Ratings and Ratios
Insurance, Asset-Management, Reinsurance, Retirement, Annuities
Dividends
| Dividend Yield | 5.23% |
| Yield on Cost 5y | 14.69% |
| Yield CAGR 5y | 28.33% |
| Payout Consistency | 91.1% |
| Payout Ratio | 65.4% |
| Risk via 5d forecast | |
|---|---|
| Volatility | 15.7% |
| Value at Risk 5%th | 26.8% |
| Relative Tail Risk | 3.93% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.00 |
| Alpha | 21.63 |
| CAGR/Max DD | 1.49 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.347 |
| Beta | 0.034 |
| Beta Downside | 0.171 |
| Drawdowns 3y | |
|---|---|
| Max DD | 13.92% |
| Mean DD | 3.85% |
| Median DD | 2.98% |
Description: CS AXA December 02, 2025
AXA SA (ticker CS) is a global insurer and asset manager headquartered in Paris, operating through six geographic-and-business segments: France, Europe, AXA XL, Asia, Africa & EME-LATAM, AXA Investment Managers, plus Transversal & Other units. Its product suite spans life-and-savings policies, P&C coverages, specialty lines (e.g., marine, aviation, fine art), reinsurance (proportional, non-proportional, facultative), risk-management consulting, and an integrated health-care ecosystem that includes tele-consultation and on-site clinic services. The group also offers ancillary services such as travel assistance, a mobility virtual payment card, parametric insurance solutions, and the AXA Multilink platform.
Key performance indicators from 2023 show net written premiums of roughly €115 billion, a combined ratio of 94 % (indicating underwriting profitability), and an operating profit of €7 billion, delivering a return on equity near 12 %. AXA’s asset-management arm oversees about €900 billion in assets under management, making investment income a material driver of earnings. The company’s results are sensitive to macro-economic factors such as interest-rate levels (which affect investment yields) and climate-related loss trends that pressure P&C reserves; regulatory capital requirements under Solvency II also influence capital allocation decisions.
For a deeper quantitative breakdown, the ValueRay platform provides a granular view of AXA’s valuation levers.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income (13.00b TTM) > 0 and > 6% of Revenue (6% = 9.41b TTM) |
| FCFTA 0.04 (>2.0%) and ΔFCFTA 2.73pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 210.0% (prev -130.9%; Δ 340.9pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.04 (>3.0%) and CFO 28.20b > Net Income 13.00b (YES >=105%, WARN >=100%) |
| Net Debt (42.87b) to EBITDA (20.25b) ratio: 2.12 <= 3.0 (WARN <= 3.5) |
| Current Ratio 24.30 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (2.16b) change vs 12m ago -3.78% (target <= -2.0% for YES) |
| Gross Margin 42.22% (prev 94.50%; Δ -52.28pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 24.48% (prev 21.31%; Δ 3.17pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 12.67 (EBITDA TTM 20.25b / Interest Expense TTM 1.21b) >= 6 (WARN >= 3) |
Altman Z'' 3.77
| (A) 0.51 = (Total Current Assets 343.47b - Total Current Liabilities 14.14b) / Total Assets 645.57b |
| (B) 0.06 = Retained Earnings (Balance) 35.58b / Total Assets 645.57b |
| (C) 0.02 = EBIT TTM 15.32b / Avg Total Assets 640.57b |
| (D) 0.08 = Book Value of Equity 45.49b / Total Liabilities 588.98b |
| Total Rating: 3.77 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 69.65
| 1. Piotroski 6.0pt |
| 2. FCF Yield 20.83% |
| 3. FCF Margin 17.38% |
| 4. Debt/Equity 1.44 |
| 5. Debt/Ebitda 2.12 |
| 6. ROIC - WACC (= 6.25)% |
| 7. RoE 28.73% |
| 8. Rev. Trend -26.53% |
| 9. EPS Trend -4.58% |
What is the price of CS shares?
Over the past week, the price has changed by -0.15%, over one month by +6.20%, over three months by +1.18% and over the past year by +27.18%.
Is CS a buy, sell or hold?
What are the forecasts/targets for the CS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 45.1 | 9.6% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 51.7 | 25.7% |
CS Fundamental Data Overview December 22, 2025
Market Cap EUR = 88.02b (88.02b EUR * 1.0 EUR.EUR)
P/E Trailing = 12.5228
P/E Forward = 9.8232
P/S = 0.9443
P/B = 1.9349
P/EG = 1.2122
Beta = 0.652
Revenue TTM = 156.81b EUR
EBIT TTM = 15.32b EUR
EBITDA TTM = 20.25b EUR
Long Term Debt = 29.54b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.27b EUR (from shortTermDebt, last fiscal year)
Debt = 65.32b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 42.87b EUR (from netDebt column, last quarter)
Enterprise Value = 130.88b EUR (88.02b + Debt 65.32b - CCE 22.45b)
Interest Coverage Ratio = 12.67 (Ebit TTM 15.32b / Interest Expense TTM 1.21b)
FCF Yield = 20.83% (FCF TTM 27.26b / Enterprise Value 130.88b)
FCF Margin = 17.38% (FCF TTM 27.26b / Revenue TTM 156.81b)
Net Margin = 8.29% (Net Income TTM 13.00b / Revenue TTM 156.81b)
Gross Margin = 42.22% ((Revenue TTM 156.81b - Cost of Revenue TTM 90.60b) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev -15.71%)
Tobins Q-Ratio = 0.20 (Enterprise Value 130.88b / Total Assets 645.57b)
Interest Expense / Debt = 0.46% (Interest Expense 299.0m / Debt 65.32b)
Taxrate = 25.32% (659.5m / 2.60b)
NOPAT = 11.44b (EBIT 15.32b * (1 - 25.32%))
Current Ratio = 24.30 (Total Current Assets 343.47b / Total Current Liabilities 14.14b)
Debt / Equity = 1.44 (Debt 65.32b / totalStockholderEquity, last quarter 45.49b)
Debt / EBITDA = 2.12 (Net Debt 42.87b / EBITDA 20.25b)
Debt / FCF = 1.57 (Net Debt 42.87b / FCF TTM 27.26b)
Total Stockholder Equity = 45.27b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.01% (Net Income 13.00b / Total Assets 645.57b)
RoE = 28.73% (Net Income TTM 13.00b / Total Stockholder Equity 45.27b)
RoCE = 20.48% (EBIT 15.32b / Capital Employed (Equity 45.27b + L.T.Debt 29.54b))
RoIC = 9.92% (NOPAT 11.44b / Invested Capital 115.36b)
WACC = 3.67% (E(88.02b)/V(153.34b) * Re(6.14%) + D(65.32b)/V(153.34b) * Rd(0.46%) * (1-Tc(0.25)))
Discount Rate = 6.14% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: -100.0 | Cagr: -1.49%
[DCF Debug] Terminal Value 80.22% ; FCFE base≈20.15b ; Y1≈23.25b ; Y5≈32.80b
Fair Price DCF = 265.1 (DCF Value 566.30b / Shares Outstanding 2.14b; 5y FCF grow 17.97% → 3.0% )
EPS Correlation: -4.58 | EPS CAGR: -58.16% | SUE: 0.0 | # QB: 0
Revenue Correlation: -26.53 | Revenue CAGR: -27.36% | SUE: -0.72 | # QB: 0
EPS next Year (2026-12-31): EPS=4.15 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=+6.7% | Growth Revenue=+4.3%