(CS) AXA - Ratings and Ratios
Insurance, Asset Management, Banking, Reinsurance, Annuities
Description: CS AXA
AXA SA (ticker CS) is a Paris-based global insurer and asset manager operating through six geographic and functional segments: France, Europe, AXA XL, Asia, Africa & EME-LATAM, AXA Investment Managers, plus a Transversal & Other umbrella that houses cross-selling and digital platforms.
The group offers a full-line insurance suite-life, savings, health, motor, property & casualty, and specialty lines such as aviation, marine, environmental liability, and parametric products-targeting both retail (individual) and professional (corporate/group) customers. AX XL, its commercial lines arm, provides reinsurance (proportional, non-proportional, facultative) and risk-management consulting, while the AXA Investment Managers franchise delivers multi-manager solutions across equities, fixed income, real assets, and alternatives.
Beyond traditional underwriting, AXA has been expanding an integrated health-insurance ecosystem that combines on-site clinic services, tele-consultations, digital health tools, and home-care offerings, as well as ancillary services like travel assistance, the AXA Multilink platform, a mobility virtual payment card, and an eSIM for connected devices.
Recent performance metrics (2023) show a combined ratio of 96.5 % in the Property & Casualty business, indicating underwriting profitability, while net profit reached €7.1 billion and the solvency II ratio stood at 215 %-well above regulatory minima. Assets under management grew to roughly €822 billion, reflecting the firm’s continued scale in the asset-management space.
Key drivers for AXA’s outlook include: (1) the low-interest-rate environment pressuring life-insurance investment returns, (2) heightened climate-risk exposure that is boosting demand for specialty reinsurance and parametric solutions, and (3) demographic aging in Europe and Asia, which fuels growth in retirement and health-insurance products. A shift toward digital distribution channels is also accelerating cost efficiencies but introduces competitive pressure from fintech entrants.
For a data-rich, unbiased deep-dive into AXA’s valuation sensitivities and scenario analyses, the ValueRay platform offers tools that can help you quantify how these macro- and micro-factors might impact the stock’s risk-adjusted return.
CS Stock Overview
| Market Cap in USD | 99,047m |
| Sub-Industry | Multi-line Insurance |
| IPO / Inception |
CS Stock Ratings
| Growth Rating | 90.0% |
| Fundamental | 67.1% |
| Dividend Rating | 86.8% |
| Return 12m vs S&P 500 | 3.13% |
| Analyst Rating | - |
CS Dividends
| Dividend Yield 12m | 5.35% |
| Yield on Cost 5y | 19.13% |
| Annual Growth 5y | 28.33% |
| Payout Consistency | 95.4% |
| Payout Ratio | 65.4% |
CS Growth Ratios
| Growth Correlation 3m | -54.2% |
| Growth Correlation 12m | 81.5% |
| Growth Correlation 5y | 97.9% |
| CAGR 5y | 21.74% |
| CAGR/Max DD 3y (Calmar Ratio) | 1.56 |
| CAGR/Mean DD 3y (Pain Ratio) | 6.63 |
| Sharpe Ratio 12m | 1.86 |
| Alpha | 3.43 |
| Beta | 1.068 |
| Volatility | 14.95% |
| Current Volume | 3507.3k |
| Average Volume 20d | 2895.2k |
| Stop Loss | 38.9 (-3.2%) |
| Signal | 0.37 |
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) 67.08
| 1. Piotroski 6.0pt = 1.0 |
| 2. FCF Yield 21.33% = 5.0 |
| 3. FCF Margin 17.38% = 4.35 |
| 4. Debt/Equity 1.44 = 1.55 |
| 5. Debt/Ebitda 2.12 = -0.23 |
| 6. ROIC - WACC (= 4.15)% = 5.18 |
| 7. RoE 28.73% = 2.39 |
| 8. Rev. Trend -24.97% = -1.87 |
| 9. EPS Trend -5.76% = -0.29 |
What is the price of CS shares?
Over the past week, the price has changed by +1.01%, over one month by +1.26%, over three months by -2.76% and over the past year by +18.43%.
Is AXA a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CS is around 45.93 EUR . This means that CS is currently undervalued and has a potential upside of +14.25% (Margin of Safety).
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 | 44.6 | 11% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 50 | 24.3% |
CS Fundamental Data Overview
Market Cap EUR = 84.91b (84.91b EUR * 1.0 EUR.EUR)
P/E Trailing = 12.0973
P/E Forward = 9.8232
P/S = 0.9109
P/B = 1.8937
P/EG = 1.2122
Beta = 1.068
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 = 127.78b EUR (84.91b + Debt 65.32b - CCE 22.45b)
Interest Coverage Ratio = 12.67 (Ebit TTM 15.32b / Interest Expense TTM 1.21b)
FCF Yield = 21.33% (FCF TTM 27.26b / Enterprise Value 127.78b)
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 127.78b / 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 = 5.77% (E(84.91b)/V(150.23b) * Re(9.95%) + D(65.32b)/V(150.23b) * Rd(0.46%) * (1-Tc(0.25)))
Discount Rate = 9.95% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -1.49%
[DCF Debug] Terminal Value 74.00% ; FCFE base≈20.15b ; Y1≈23.25b ; Y5≈32.80b
Fair Price DCF = 191.6 (DCF Value 408.84b / Shares Outstanding 2.13b; 5y FCF grow 17.97% → 3.0% )
EPS Correlation: -5.76 | EPS CAGR: -66.95% | SUE: 0.0 | # QB: 0
Revenue Correlation: -24.97 | Revenue CAGR: -7.65% | SUE: -0.72 | # QB: 0