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AXA SA
(CS)
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Rating:73Outperform
Price Target:
€49.00
▲(14.97% 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 generation
Consistently high free cash flow and the close tracking of FCF to net income (~92%–98%) indicate durable earnings quality and cash conversion. That supports dividends, reinvestment in underwriting and technology, deleveraging or opportunistic capital returns without relying on volatile market funding.
Negative Factors
Revenue and operating-profit reporting inconsistency
Anomalies such as zero reported EBIT/EBITDA alongside strong net income hinder assessment of underlying underwriting and operating profitability. Persistent reporting inconsistencies reduce confidence in trend analysis, complicate capital allocation decisions and make stress-testing longer-term performance harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Consistently high free cash flow and the close tracking of FCF to net income (~92%–98%) indicate durable earnings quality and cash conversion. That supports dividends, reinvestment in underwriting and technology, deleveraging or opportunistic capital returns without relying on volatile market funding.
Read all positive factors
AXA SA (CS) vs. iShares MSCI France ETF (EWQ)
Market Cap
€91.21B
Dividend Yield5.23%
Average Volume (3M)3.48M
Price to Earnings (P/E)11.7
Beta (1Y)0.88
Revenue Growth1.13%
EPS Growth29.62%
CountryFR
Employees100,041
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)3.77
Shares Outstanding2,090,836,700
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
€49.74Price Target Upside16.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)4.11
Revenue Forecast (FY)€78.11B
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 | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 109.23B | 89.82B | 86.02B | 93.08B | 122.17B |
| Gross Profit | 109.23B | 89.82B | 87.15B | 93.08B | 122.17B |
| EBITDA | 8.90B | 10.41B | 9.21B | 7.29B | 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 | 61.88B | 62.14B | 59.54B | 63.75B | 57.22B |
| Total Liabilities | 586.00B | 606.12B | 592.05B | 648.32B | 692.51B |
| Stockholders Equity | 42.56B | 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
41.47
Positive
39.57
Positive
38.28
Positive
Market Momentum
0.84
Positive
64.65
Neutral
72.63
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 below the 20-day moving average (MA) of 43.58, above the 50-day MA of 41.47, and above the 200-day MA of 38.28, indicating a bullish trend. The MACD of 0.84 indicates Positive momentum. The RSI at 64.65 is Neutral, neither overbought nor oversold. The STOCH value of 72.63 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 | €18.33B | 13.66 | 14.33% | 6.07% | 9.60% | 21.79% | |
74 Outperform | €2.39B | 11.20 | 10.78% | 9.02% | -1.16% | -16.17% | |
73 Outperform | €91.21B | 11.66 | 17.06% | 5.23% | 1.13% | 29.62% | |
68 Neutral | €113.03B | 10.00 | 9.43% | 9.16% | -4.91% | 7.63% | |
57 Neutral | €1.01B | 14.82 | 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
44.50
5.26
13.41%
FR:AMUN
Amundi SA
89.85
22.16
32.74%
FR:BNP
BNP Paribas
102.94
30.49
42.08%
FR:CAT31
Caisse Regionale de Credit Agricole Mutuel Toulouse 31
126.00
35.09
38.60%
FR:CAF
CRCAM dlle-de France
125.80
53.17
73.20%
FR:COFA
Coface SA
16.05
0.74
4.81%
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.