CS Stock Analysis: AXA | PA
Insurance - Diversified | PA, France | Market Cap: 88.489m EUR | 12M Return: 10.6% | FR0000120628 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 143M
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Seasonality 11.7 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-headquartered (founded 1852) global financial services group operating through subsidiaries across six geographic segments: France, Europe, AXA XL, Asia, Africa & EME-LATAM, and Transversal & Other. The company delivers insurance, asset management, and banking services to both retail/individual and group/commercial customers, with product lines spanning life and savings, property and casualty, protection, retirement, and a broad range of specialty covers including marine, aviation, energy, environmental liability, and professional indemnity. Its AXA XL segment extends into large-scale commercial and reinsurance underwriting, while its retail operations distribute motor, household, health, term life, whole life, universal life, endowment, and annuity products.
Beyond core underwriting, the group offers bancassurance-style savings and banking products, reinsurance solutions (proportional, non-proportional, and facultative), risk management consulting, and integrated healthcare services combining clinics, teleconsultation, and home care. Digital channels include the AXA Multilink B2B2C platform, the Sophia generative-AI customer chatbot, and the EMMA digital assistant. AXA is classified under the Multi-line Insurance sub-industry within the Financials sector, a model that allows diversification across life and non-life underwriting cycles and product types.
- AXA XL reinsurance margins pressured by elevated catastrophe losses
- Life and savings premiums grow in Asia and Europe
- Capital returns accelerate with share buybacks and dividends
| Net Income: 10.0b 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 -132.5%; Δ -151.9% < -1%) |
| CFO/TA 0.02 > 3% & CFO 13.9b > Net Income 10.0b |
| 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: 32.15% > 18% (prev 27.55%; Δ 4.60% > 0.5%) |
| Asset Turnover: 18.02% > 50% (prev 16.32%; Δ 1.70% > 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/105b) |
| GMI: 0.86 (GM 27.55% / 32.15%) |
| AQI: 1.63 (AQ_t 0.77 / AQ_t-1 0.47) |
| SGI: 1.11 (Revenue 117b / 105b) |
| TATA: -0.01 (NI 10.0b - CFO 13.9b) / TA 651b) |
| Beneish M = -1.06 (Cap -4..+1) = D |
As of October 10, 2026, the stock is trading at EUR 41.52 with a total of 2,626,621 shares traded. Over the past week, the price has changed by -1.31%, over one month by -3.31%, over three months by -6.28% and over the past year by +10.57%.
Current recommended Stop Loss: 40.30 (which is 2.9% or 1.6 ATR below the current price).
AXA has no consensus analysts rating.
P/E Trailing = 11.5628
P/E Forward = 9.8039
P/S = 0.9142
P/B = 2.0544
P/EG = 19.6027
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 = 142b EUR (88.5b + Debt 72.5b - CCE 18.5b)
Interest Coverage Ratio = 14.65 (Ebit TTM 11.2b / Interest Expense TTM 764.0m)
EV/FCF = 10.55x (Enterprise Value 142b / FCF TTM 13.5b)
FCF Yield = 9.48% (FCF TTM 13.5b / Enterprise Value 142b)
FCF Margin = 11.56% (FCF TTM 13.5b / Revenue TTM 117b)
Net Margin = 8.60% (Net Income TTM 10.0b / Revenue TTM 117b)
Gross Margin = 32.15% ((Revenue TTM 117b - Cost of Revenue TTM 79.2b) / Revenue TTM)
Gross Margin QoQ = 33.73% (prev 30.51%)
Tobins Q-Ratio = 0.22 (Enterprise Value 142b / Total Assets 651b)
Interest Expense / Debt = 1.05% (Interest Expense 764.0m / Debt 72.5b)
Taxrate = 23.12% (2.41b / 10.4b)
NOPAT = 8.61b (EBIT 11.2b * (1 - 23.12%))
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 = 1.55% (Net Income 10.0b / Total Assets 651b)
RoE = 22.47% (Net Income TTM 10.0b / Total Stockholder Equity 44.7b)
RoCE = 9.70% (EBIT 11.2b / Capital Employed (Equity 44.7b + L.T.Debt 70.7b))
RoIC = 5.16% (NOPAT 8.61b / Invested Capital 167b)
WACC = 3.48% (E(88.5b)/V(161b) * Re(5.66%) + D(72.5b)/V(161b) * Rd(1.05%) * (1-Tc(0.23)))
Discount Rate = 5.66% (= 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 = 62.04 (EV 184b - Net Debt 54.0b = Equity 130b / Shares 2.09b; 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: 88.60 | Revenue CAGR: 4.65% | SUE: N/A | # QB: 0
EPS current Year (2026-12-31): EPS=4.18 | Chg30d=+0.32% | Revisions=-10% | GrowthEPS=+8.3% | GrowthRev=+24.9%
EPS next Year (2027-12-31): EPS=4.48 | Chg30d=+0.13% | Revisions=+0% | GrowthEPS=+7.2% | GrowthRev=+5.2%
[Analyst] Revisions Ratio: -6% (up=7, down=8)