AXA SA (FR:CS)
:CS
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AXA SA
(CS)
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Rating:73Outperform
Price Target:
€44.00
▲(3.24% Upside)
Action:Reiterated
Date:03/26/26
The score is driven primarily by solid financial performance (strong cash generation and improved leverage/ROE) and very attractive valuation (low P/E and high yield). These positives are tempered by weak technical momentum (below major moving averages and negative MACD) and some uncertainty from reported operating-profit consistency.
Positive Factors
Strong free cash flow
AXA's very high 2025 operating and free cash flow, with FCF closely tracking net income (~92%–98%), indicates durable earnings quality and internal funding capacity. Strong FCF supports dividends, reinvestment, and capital management over the medium term, reducing reliance on external financing.
Negative Factors
Reporting inconsistency for operating profit
The 2025 reporting anomaly—zero EBIT/EBITDA despite strong net income—reduces transparency into core operating performance. It impairs the ability to isolate underwriting and expense trends, complicating sustainable profit assessment and medium-term forecasting for investors and analysts.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow
AXA's very high 2025 operating and free cash flow, with FCF closely tracking net income (~92%–98%), indicates durable earnings quality and internal funding capacity. Strong FCF supports dividends, reinvestment, and capital management over the medium term, reducing reliance on external financing.
Read all positive factors
AXA SA (CS) vs. iShares MSCI France ETF (EWQ)
Market Cap
€81.88B
Dividend Yield5.23%
Average Volume (3M)3.48M
Price to Earnings (P/E)10.3
Beta (1Y)0.98
Revenue Growth1.13%
EPS Growth29.62%
CountryFR
Employees100,041
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)3.77
Shares Outstanding2,090,673,800
10 Day Avg. Volume3,934,466
30 Day Avg. Volume3,480,660
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)1.81
Price to Sales (P/S)0.74
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
€47.03Price Target Upside10.34% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)4.09
Revenue Forecast (FY)€75.54B
AXA SA Business Overview & Revenue Model
Company Description
AXA SA, through its subsidiaries, provides insurance, asset management, and banking services worldwide. The company operates through France, Europe, Asia, AXA XL, International, and Transversal & Central Holdings segments. It offers life and savin...
How the Company Makes Money
AXA makes money mainly by underwriting insurance risk and by earning fees from asset management. (1) Insurance underwriting: Across P&C and life & health lines, AXA collects premiums from policyholders in exchange for coverage. Revenue is recogniz...
AXA SA Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
81
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 115.52B | 89.82B | 86.02B | 93.08B | 122.17B |
| Gross Profit | 115.52B | 89.82B | 87.15B | 93.08B | 122.17B |
| EBITDA | 0.00 | 10.41B | 9.21B | 6.58B | 10.38B |
| Net Income | 9.80B | 7.89B | 7.19B | 6.67B | 7.29B |
Balance Sheet | |||||
| Total Assets | 635.50B | 653.80B | 644.45B | 696.70B | 775.49B |
| Cash, Cash Equivalents and Short-Term Investments | 22.20B | 333.57B | 320.12B | 323.68B | 25.05B |
| Total Debt | 15.80B | 62.14B | 59.54B | 63.75B | 57.22B |
| Total Liabilities | 586.00B | 606.12B | 592.05B | 648.32B | 692.51B |
| Stockholders Equity | 47.20B | 49.90B | 44.14B | 45.35B | 71.14B |
Cash Flow | |||||
| Free Cash Flow | 21.05B | 11.09B | 5.16B | 7.53B | 6.18B |
| Operating Cash Flow | 21.48B | 11.57B | 5.59B | 7.88B | 6.53B |
| Investing Cash Flow | -10.63B | -11.25B | -1.60B | 470.00M | -8.95B |
| Financing Cash Flow | -8.13B | -7.33B | -5.93B | -6.12B | -4.33B |
AXA SA Technical Analysis
Positive
42.62
Price Trends
38.70
Positive
37.71
Positive
37.59
Positive
Market Momentum
0.36
Positive
51.01
Neutral
27.77
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 42.62 is above the 20-day moving average (MA) of 39.65, above the 50-day MA of 38.70, and above the 200-day MA of 37.59, indicating a neutral trend. The MACD of 0.36 indicates Positive momentum. The RSI at 51.01 is Neutral, neither overbought nor oversold. The STOCH value of 27.77 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | €2.20B | 10.40 | 10.78% | 9.02% | -1.16% | -16.17% | |
73 Outperform | €81.88B | 10.25 | 17.06% | 5.23% | 1.13% | 29.62% | |
72 Outperform | €17.33B | 10.49 | 14.33% | 6.07% | 9.60% | 21.79% | |
68 Neutral | €104.31B | 8.92 | 9.43% | 9.16% | -4.91% | 7.63% | |
57 Neutral | €913.13M | 13.53 | 2.58% | 2.14% | -7.49% | 23.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
FR:CS
AXA SA
39.78
0.03
0.08%
FR:AMUN
Amundi SA
84.25
15.05
21.75%
FR:BNP
BNP Paribas
94.43
21.91
30.21%
FR:CAT31
Caisse Regionale de Credit Agricole Mutuel Toulouse 31
143.00
57.46
67.17%
FR:CAF
CRCAM dlle-de France
114.88
45.31
65.14%
FR:COFA
Coface SA
14.79
-0.43
-2.84%
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.