CS Stock Analysis: AXA | PA
Insurance - Diversified | PA, France | Market Cap: 91.649m EUR | 12M Return: 10.9% | FR0000120628 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 106M
Warnings
No concerns identified
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
AXA SA is a Paris-based global financial services group founded in 1852 that provides insurance, asset management, and banking services across six operating segments: France, Europe, AXA XL, Asia, Africa & EME-LATAM, and Transversal & Other. As a multi-line insurer, AXA generates revenue through a mix of insurance premiums, investment income on policyholder reserves, and fee-based businesses, which helps diversify earnings across life and non-life cycles.
The companys core offerings span life and savings insurance, property and casualty insurance, and protection and retirement products for individual and professional customers. Distribution extends to both retail/individual and commercial/group channels, with products including motor, household, health, term and whole life, universal life, endowments, and annuities.
AXA runs an extensive reinsurance operation through its AXA XL segment, covering casualty, property catastrophe, marine, aviation, energy, environmental liability, professional liability, and specialty lines via proportional, non-proportional, and facultative treaties. Reinsurance acts as both a standalone product and an internal tool to manage underwriting volatility.
The group has built digital and healthcare-adjacent services, including Sophia (a generative AI customer chatbot), EMMA (a digital assistant), the AXA Multilink B2B2C platform, and an integrated health ecosystem combining teleconsultation, in-clinic, and home-care services with insurance coverage. Travel insurance and assistance round out the offering.
- Life and savings margins expand on higher interest rate environment
- AXA XL reinsurance combined ratio pressured by elevated catastrophe losses
- Share buybacks accelerate as Solvency II ratio remains robust
| Net Income: 12.0b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -1.04 > 1.0 |
| NWC/Revenue: -284.5% < 20% (prev -233.2%; Δ -51.25% < -1%) |
| CFO/TA 0.02 > 3% & CFO 13.9b > Net Income 12.0b |
| Net Debt (54.0b) to EBITDA (10.4b): 5.18 < 3 |
| Current Ratio: 0.31 > 1.5 & < 3 |
| Outstanding Shares: last quarter (2.04b) vs 12m ago -8.04% < -2% |
| Gross Margin: 90.74% > 18% (prev 100.0%; Δ -9.26% > 0.5%) |
| Asset Turnover: 18.02% > 50% (prev 9.27%; Δ 8.75% > 0%) |
| Interest Coverage Ratio: 14.65 > 6 (EBIT TTM 11.2b / Interest Expense TTM 764.0m) |
| A: -0.51 (Total Current Assets 148b - Total Current Liabilities 480b) / Total Assets 651b |
| B: 0.06 (Retained Earnings 40.7b / Total Assets 651b) |
| C: 0.02 (EBIT TTM 11.2b / Avg Total Assets 648b) |
| D: 0.07 (Book Value of Equity 40.9b / Total Liabilities 607b) |
| Altman-Z'' = -2.96 = D |
| DSRI: 3.0 (Receivables 129b/9.90b, Revenue 117b/59.9b) |
| GMI: 1.10 (GM 100.0% / 90.74%) |
| AQI: 1.63 (AQ_t 0.77 / AQ_t-1 0.47) |
| SGI: 1.95 (Revenue 117b / 59.9b) |
| TATA: -0.00 (NI 12.0b - CFO 13.9b) / TA 651b) |
| Beneish M = -0.23 (Cap -4..+1) = D |
As of August 15, 2026, the stock is trading at EUR 44.64 with a total of 1,443,753 shares traded. Over the past week, the price has changed by -0.91%, over one month by +0.72%, over three months by +14.76% and over the past year by +10.89%.
Current recommended Stop Loss: 43.70 (which is 2.1% or 1.6 ATR below the current price).
AXA has no consensus analysts rating.
P/E Trailing = 12.1429
P/E Forward = 10.846
P/S = 0.9469
P/B = 2.0457
P/EG = 1.2122
Revenue TTM = 117b EUR
EBIT TTM = 11.2b EUR
EBITDA TTM = 10.4b EUR
Long Term Debt = 70.7b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.78b EUR (from shortTermDebt, last fiscal year)
Debt = 72.5b EUR (corrected: LT Debt 70.7b + ST Debt 1.78b)
Net Debt = 54.0b EUR (calculated: Debt 72.5b - CCE 18.5b)
Enterprise Value = 146b EUR (91.6b + Debt 72.5b - CCE 18.5b)
Interest Coverage Ratio = 14.65 (Ebit TTM 11.2b / Interest Expense TTM 764.0m)
EV/FCF = 10.78x (Enterprise Value 146b / FCF TTM 13.5b)
FCF Yield = 9.27% (FCF TTM 13.5b / Enterprise Value 146b)
FCF Margin = 11.56% (FCF TTM 13.5b / Revenue TTM 117b)
Net Margin = 10.28% (Net Income TTM 12.0b / Revenue TTM 117b)
Gross Margin = 90.74% ((Revenue TTM 117b - Cost of Revenue TTM 10.8b) / Revenue TTM)
Gross Margin QoQ = 33.73% (prev none%)
Tobins Q-Ratio = 0.22 (Enterprise Value 146b / Total Assets 651b)
Interest Expense / Debt = 1.05% (Interest Expense 764.0m / Debt 72.5b)
Taxrate = 23.55% (3.07b / 13.0b)
NOPAT = 8.56b (EBIT 11.2b * (1 - 23.55%))
Current Ratio = 0.31 (Total Current Assets 148b / Total Current Liabilities 480b)
Debt / Equity = 1.77 (Debt 72.5b / totalStockholderEquity, last quarter 40.9b)
Debt / EBITDA = 5.18 (Net Debt 54.0b / EBITDA 10.4b)
Debt / FCF = 4.00 (Net Debt 54.0b / FCF TTM 13.5b)
Total Stockholder Equity = 44.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.85% (Net Income 12.0b / Total Assets 651b)
RoE = 26.85% (Net Income TTM 12.0b / Total Stockholder Equity 44.7b)
RoCE = 9.70% (EBIT 11.2b / Capital Employed (Equity 44.7b + L.T.Debt 70.7b))
RoIC = 5.14% (NOPAT 8.56b / Invested Capital 167b)
WACC = 3.55% (E(91.6b)/V(164b) * Re(5.72%) + D(72.5b)/V(164b) * Rd(1.05%) * (1-Tc(0.24)))
Discount Rate = 5.72% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -93.00 | Cagr: -5.56%
[DCF] Terminal Value 73.10% ; FCFF base≈16.2b ; Y1≈14.2b ; Y5≈11.4b
[DCF] Fair Price = 63.77 (EV 184b - Net Debt 54.0b = Equity 130b / Shares 2.03b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 90.81 | EPS CAGR: 18.42% | SUE: 0.0 | # QB: 0
Revenue Correlation: -3.43 | Revenue CAGR: -0.85% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.17 | Chg30d=+0.91% | Revisions=+44% | GrowthEPS=+8.0% | GrowthRev=+32.1%
EPS next Year (2027-12-31): EPS=4.48 | Chg30d=+0.36% | Revisions=+22% | GrowthEPS=+7.4% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: +40% (up=9, down=3)