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AXA SA
(CS)
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Rating:74Outperform
Price Target:
€50.00
▲(11.53% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid financial performance (strong cash generation and improved leverage/ROE, offset by 2025 operating-profit reporting inconsistency) and an attractive valuation (low P/E and high dividend yield). Technicals are supportive but only moderately strong, keeping the overall rating in the mid-70s.
Positive Factors
Cash generation
Sizable and recurring free cash flow in 2025 that closely tracks net income indicates high earnings quality and internal funding capacity. Durable FCF supports sustained dividends, debt reduction, reinsurance or strategic investments, and buffers underwriting cycles over the next 2–6 months.
Negative Factors
Balance-sheet inconsistency
Wide swings in reported leverage weaken trend comparability and complicate forecasting of solvency and capital return policies. Persistent variability may reflect one-off actions or cyclical financing, raising medium-term uncertainty for ratings, dividend planning and strategic commitments.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sizable and recurring free cash flow in 2025 that closely tracks net income indicates high earnings quality and internal funding capacity. Durable FCF supports sustained dividends, debt reduction, reinsurance or strategic investments, and buffers underwriting cycles over the next 2–6 months.
Read all positive factors
AXA SA (CS) vs. iShares MSCI France ETF (EWQ)
Market Cap
€92.51B
Dividend Yield5.16%
Average Volume (3M)3.48M
Price to Earnings (P/E)9.1
Beta (1Y)0.88
Revenue Growth10.86%
EPS Growth36.10%
CountryFR
Employees107,756
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)4.92
Shares Outstanding2,090,899,400
10 Day Avg. Volume3,934,466
30 Day Avg. Volume3,480,660
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)2.01
Price to Sales (P/S)0.78
P/FCF Ratio4.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€51.89Price Target Upside15.75% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.15
Revenue Forecast (FY)€77.74B
AXA SA Business Overview & Revenue Model
Company Description
AXA S.A. operates as a global financial services group, delivering a comprehensive suite of insurance, asset management, and banking services across the globe through its various subsidiaries. The company is structured into key operational segment...
How the Company Makes Money
AXA makes money mainly by underwriting insurance and by investing the premiums it collects. In P&C insurance (e.g., motor, home, commercial lines), AXA charges policyholders premiums and aims to price risk so that, over time, premiums earned excee...
AXA SA Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
81
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 116.79B | 109.23B | 89.82B | 86.02B | 93.08B | 122.17B |
| Gross Profit | 105.98B | 109.23B | 89.82B | 87.15B | 93.08B | 122.17B |
| EBITDA | 10.43B | 8.90B | 10.41B | 9.21B | 7.29B | 10.38B |
| Net Income | 12.01B | 9.80B | 7.89B | 7.19B | 6.67B | 7.29B |
Balance Sheet | ||||||
| Total Assets | 650.69B | 635.50B | 653.80B | 644.45B | 696.70B | 775.49B |
| Cash, Cash Equivalents and Short-Term Investments | 18.52B | 22.20B | 333.57B | 320.12B | 323.68B | 25.05B |
| Total Debt | 64.88B | 61.88B | 62.14B | 59.54B | 63.75B | 57.22B |
| Total Liabilities | 607.47B | 586.00B | 606.12B | 592.05B | 648.32B | 692.51B |
| Stockholders Equity | 40.92B | 42.56B | 49.90B | 44.14B | 45.35B | 71.14B |
Cash Flow | ||||||
| Free Cash Flow | 13.50B | 21.05B | 11.09B | 5.16B | 7.53B | 6.18B |
| Operating Cash Flow | 13.92B | 21.48B | 11.57B | 5.59B | 7.88B | 6.53B |
| Investing Cash Flow | -8.88B | -10.63B | -11.25B | -1.60B | 470.00M | -8.95B |
| Financing Cash Flow | -10.90B | -8.13B | -7.33B | -5.93B | -6.12B | -4.33B |
AXA SA Technical Analysis
Positive
44.83
Price Trends
43.00
Positive
40.76
Positive
38.82
Positive
Market Momentum
0.48
Positive
56.86
Neutral
27.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:CS, the sentiment is Positive. The current price of 44.83 is above the 20-day moving average (MA) of 44.72, above the 50-day MA of 43.00, and above the 200-day MA of 38.82, indicating a neutral trend. The MACD of 0.48 indicates Positive momentum. The RSI at 56.86 is Neutral, neither overbought nor oversold. The STOCH value of 27.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:CS.
AXA SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | €19.41B | 14.23 | 12.92% | 4.85% | 1.21% | -18.98% | |
74 Outperform | €92.51B | 9.13 | 22.25% | 5.18% | 10.86% | 36.10% | |
72 Outperform | €2.35B | 11.53 | 9.80% | 7.76% | 0.01% | -15.41% | |
70 Outperform | €121.14B | 9.16 | 11.06% | 4.87% | 1.42% | 27.31% | |
58 Neutral | €944.29M | 12.71 | 2.70% | 2.14% | -34.99% | 22.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
FR:CS
AXA SA
44.67
5.45
13.90%
FR:AMUN
Amundi SA
96.80
34.81
56.15%
FR:BNP
BNP Paribas
112.12
37.46
50.17%
FR:CAT31
Caisse Regionale de Credit Agricole Mutuel Toulouse 31
121.98
28.12
29.96%
FR:CAF
CRCAM dlle-de France
118.48
33.05
38.68%
FR:COFA
Coface SA
16.07
1.30
8.81%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.