AXA SA (AXA.DE) Fundamental Analysis & Valuation

FRA:AXA • FR0000120628

37.5 EUR
-0.34 (-0.9%)
Last: Mar 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This AXA.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AXA. AXA was compared to 47 industry peers in the Insurance industry. Both the profitability and the financial health of AXA get a neutral evaluation. Nothing too spectacular is happening here. AXA has a valuation in line with the averages, but on the other hand it scores bad on growth. AXA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. AXA.DE Profitability Analysis

1.1 Basic Checks

  • AXA had positive earnings in the past year.
  • In the past year AXA had a positive cash flow from operations.
  • Of the past 5 years AXA 4 years were profitable.
  • AXA had a positive operating cash flow in 4 of the past 5 years.
AXA.DE Yearly Net Income VS EBIT VS OCF VS FCFAXA.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

1.2 Ratios

  • With a Return On Assets value of 1.18%, AXA perfoms like the industry average, outperforming 44.68% of the companies in the same industry.
  • With a decent Return On Equity value of 16.72%, AXA is doing good in the industry, outperforming 63.83% of the companies in the same industry.
  • AXA has a Return On Invested Capital (1.28%) which is in line with its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for AXA is below the industry average of 3.45%.
Industry RankSector Rank
ROA 1.18%
ROE 16.72%
ROIC 1.28%
ROA(3y)1.09%
ROA(5y)0.91%
ROE(3y)14.54%
ROE(5y)11.55%
ROIC(3y)1.29%
ROIC(5y)1.11%
AXA.DE Yearly ROA, ROE, ROICAXA.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • AXA has a Profit Margin (8.52%) which is in line with its industry peers.
  • AXA's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 11.47%, AXA is in line with its industry, outperforming 46.81% of the companies in the same industry.
  • AXA's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 11.47%
PM (TTM) 8.52%
GM N/A
OM growth 3Y15.12%
OM growth 5Y20.23%
PM growth 3Y14.87%
PM growth 5Y26.69%
GM growth 3YN/A
GM growth 5YN/A
AXA.DE Yearly Profit, Operating, Gross MarginsAXA.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. AXA.DE Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), AXA is destroying value.
  • There is no outstanding debt for AXA. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
AXA.DE Yearly Shares OutstandingAXA.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
AXA.DE Yearly Total Debt VS Total AssetsAXA.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B 800B

2.2 Solvency

  • Based on the Altman-Z score of 0.34, we must say that AXA is in the distress zone and has some risk of bankruptcy.
  • AXA's Altman-Z score of 0.34 is amongst the best of the industry. AXA outperforms 82.98% of its industry peers.
  • AXA has a debt to FCF ratio of 1.41. This is a very positive value and a sign of high solvency as it would only need 1.41 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 1.41, AXA is in the better half of the industry, outperforming 70.21% of the companies in the same industry.
  • AXA has a Debt/Equity ratio of 0.65. This is a neutral value indicating AXA is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.65, AXA perfoms like the industry average, outperforming 48.94% of the companies in the same industry.
  • Although AXA's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 1.41
Altman-Z 0.34
ROIC/WACC0.12
WACC10.99%
AXA.DE Yearly LT Debt VS Equity VS FCFAXA.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

2.3 Liquidity

  • A Current Ratio of 0.82 indicates that AXA may have some problems paying its short term obligations.
  • AXA has a Current ratio of 0.82. This is amongst the best in the industry. AXA outperforms 80.85% of its industry peers.
  • AXA has a Quick Ratio of 0.82. This is a bad value and indicates that AXA is not financially healthy enough and could expect problems in meeting its short term obligations.
  • AXA has a Quick ratio of 0.82. This is amongst the best in the industry. AXA outperforms 80.85% of its industry peers.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.82
AXA.DE Yearly Current Assets VS Current LiabilitesAXA.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. AXA.DE Growth Analysis

3.1 Past

  • The Earnings Per Share has been growing slightly by 7.52% over the past year.
  • AXA shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 17.68% yearly.
EPS 1Y (TTM)7.52%
EPS 3Y7.81%
EPS 5Y17.68%
EPS Q2Q%6.4%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%N/A

3.2 Future

  • Based on estimates for the next years, AXA will show a small growth in Earnings Per Share. The EPS will grow by 6.68% on average per year.
  • AXA is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 8.16% yearly.
EPS Next Y10.45%
EPS Next 2Y8.72%
EPS Next 3Y8.29%
EPS Next 5Y6.68%
Revenue Next Year0.15%
Revenue Next 2Y3.38%
Revenue Next 3Y2.31%
Revenue Next 5Y8.16%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AXA.DE Yearly Revenue VS EstimatesAXA.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50B 100B
AXA.DE Yearly EPS VS EstimatesAXA.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 1 2 3 4 5

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6

4. AXA.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 9.72 indicates a reasonable valuation of AXA.
  • Based on the Price/Earnings ratio, AXA is valued a bit cheaper than 76.60% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.45, AXA is valued rather cheaply.
  • The Price/Forward Earnings ratio is 8.80, which indicates a very decent valuation of AXA.
  • 76.60% of the companies in the same industry are more expensive than AXA, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 24.65. AXA is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 9.72
Fwd PE 8.8
AXA.DE Price Earnings VS Forward Price EarningsAXA.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 85.11% of the companies in the same industry are more expensive than AXA, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 3.75
EV/EBITDA N/A
AXA.DE Per share dataAXA.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • AXA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.93
PEG (5Y)0.55
EPS Next 2Y8.72%
EPS Next 3Y8.29%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

7

5. AXA.DE Dividend Analysis

5.1 Amount

  • AXA has a Yearly Dividend Yield of 6.10%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.21, AXA pays a better dividend. On top of this AXA pays more dividend than 87.23% of the companies listed in the same industry.
  • AXA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 6.1%

5.2 History

  • On average, the dividend of AXA grows each year by 8.12%, which is quite nice.
Dividend Growth(5Y)8.12%
Div Incr Years4
Div Non Decr Years4
AXA.DE Yearly Dividends per shareAXA.DE Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • AXA pays out 61.79% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of AXA is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP61.79%
EPS Next 2Y8.72%
EPS Next 3Y8.29%
AXA.DE Yearly Income VS Free CF VS DividendAXA.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B
AXA.DE Dividend Payout.AXA.DE Dividend Payout, showing the Payout Ratio.AXA.DE Dividend Payout.PayoutRetained Earnings

More info and screens

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AXA.DE Fundamentals: All Metrics, Ratios and Statistics

AXA SA

FRA:AXA (3/9/2026, 7:00:00 PM)

37.5

-0.34 (-0.9%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-26
Earnings (Next)07-30
Inst Owners38.26%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap78.40B
Revenue(TTM)N/A
Net Income(TTM)7.61B
Analysts82.67
Price Target46 (22.67%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.1%
Yearly Dividend2.02
Dividend Growth(5Y)8.12%
DP61.79%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.55%
PT rev (3m)1.02%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.29%
EPS NY rev (3m)-0.08%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-3.17%
Revenue NY rev (3m)-3.17%
Valuation
Industry RankSector Rank
PE 9.72
Fwd PE 8.8
P/S 0.88
P/FCF 3.75
P/OCF 3.66
P/B 1.72
P/tB 3.25
EV/EBITDA N/A
EPS(TTM)3.86
EY10.29%
EPS(NY)4.26
Fwd EY11.37%
FCF(TTM)10.01
FCFY26.69%
OCF(TTM)10.24
OCFY27.29%
SpS42.7
BVpS21.76
TBVpS11.53
PEG (NY)0.93
PEG (5Y)0.55
Graham Number43.47
Profitability
Industry RankSector Rank
ROA 1.18%
ROE 16.72%
ROCE 1.62%
ROIC 1.28%
ROICexc 1.33%
ROICexgc 1.74%
OM 11.47%
PM (TTM) 8.52%
GM N/A
FCFM 23.44%
ROA(3y)1.09%
ROA(5y)0.91%
ROE(3y)14.54%
ROE(5y)11.55%
ROIC(3y)1.29%
ROIC(5y)1.11%
ROICexc(3y)1.34%
ROICexc(5y)1.16%
ROICexgc(3y)1.75%
ROICexgc(5y)1.48%
ROCE(3y)1.62%
ROCE(5y)1.41%
ROICexgc growth 3Y10.47%
ROICexgc growth 5Y16.55%
ROICexc growth 3Y8.69%
ROICexc growth 5Y14.36%
OM growth 3Y15.12%
OM growth 5Y20.23%
PM growth 3Y14.87%
PM growth 5Y26.69%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.14
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 1.41
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 0.53%
Interest Coverage 1.98
Cash Conversion N/A
Profit Quality 275.1%
Current Ratio 0.82
Quick Ratio 0.82
Altman-Z 0.34
F-Score7
WACC10.99%
ROIC/WACC0.12
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)0.46%
Cap/Sales(5y)0.4%
Profit Quality(3y)104.89%
Profit Quality(5y)238.88%
High Growth Momentum
Growth
EPS 1Y (TTM)7.52%
EPS 3Y7.81%
EPS 5Y17.68%
EPS Q2Q%6.4%
EPS Next Y10.45%
EPS Next 2Y8.72%
EPS Next 3Y8.29%
EPS Next 5Y6.68%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next Year0.15%
Revenue Next 2Y3.38%
Revenue Next 3Y2.31%
Revenue Next 5Y8.16%
EBIT growth 1Y7.05%
EBIT growth 3Y2.9%
EBIT growth 5Y10.41%
EBIT Next Year26.98%
EBIT Next 3Y11.06%
EBIT Next 5Y9.48%
FCF growth 1Y150.74%
FCF growth 3Y7.74%
FCF growth 5Y9.94%
OCF growth 1Y145.39%
OCF growth 3Y7.85%
OCF growth 5Y9.48%

AXA SA / AXA.DE FAQ

What is the ChartMill fundamental rating of AXA SA (AXA.DE) stock?

ChartMill assigns a fundamental rating of 5 / 10 to AXA.DE.


What is the valuation status of AXA SA (AXA.DE) stock?

ChartMill assigns a valuation rating of 6 / 10 to AXA SA (AXA.DE). This can be considered as Fairly Valued.


What is the profitability of AXA stock?

AXA SA (AXA.DE) has a profitability rating of 4 / 10.


Can you provide the PE and PB ratios for AXA stock?

The Price/Earnings (PE) ratio for AXA SA (AXA.DE) is 9.72 and the Price/Book (PB) ratio is 1.72.


Can you provide the dividend sustainability for AXA stock?

The dividend rating of AXA SA (AXA.DE) is 7 / 10 and the dividend payout ratio is 61.79%.