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Axis Capital
(NYSE:AXS)
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Rating:75Outperform
Price Target:
$114.00
â–²(14.68% Upside)
Action:Reiterated
Date:08/18/26
AXS scores well primarily on strong financial fundamentals (higher profitability, very low leverage, and solid ROE) and an inexpensive valuation (low P/E with a dividend). The score is tempered by weak technical momentum (price below key moving averages with negative MACD and low RSI/Stoch) and earnings-call risks tied to market softening, reinsurance contraction, and elevated catastrophe-related losses.
Positive Factors
Strong Balance Sheet
Very low leverage and expanding equity provide substantial capacity to absorb underwriting volatility, support premium growth and maintain shareholder returns. The strong capital position also improves AXIS’s resilience through catastrophe-heavy or softer insurance cycles.
Negative Factors
Market Softening
Falling rates and stronger competition can reduce premium adequacy and future underwriting margins, particularly in property and cyber. If soft conditions persist, AXIS may need to shrink exposures or accept slower premium growth to preserve risk-adjusted returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Balance Sheet
Very low leverage and expanding equity provide substantial capacity to absorb underwriting volatility, support premium growth and maintain shareholder returns. The strong capital position also improves AXIS’s resilience through catastrophe-heavy or softer insurance cycles.
Read all positive factors
Axis Capital Key Performance Indicators (KPIs)
Any
Gross Premiums Written by Segment
Records total new and renewal premium volumes written before reinsurance cessions, reflecting sales momentum and market share in each line. High growth in gross written premiums can signal expansion, but it may overstate retained risk if the company cedes substantial business to reinsurers.
Records total new and renewal premium volumes written before reinsurance cessions, reflecting sales momentum and market share in each line. High growth in gross written premiums can signal expansion, but it may overstate retained risk if the company cedes substantial business to reinsurers.
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The Fly
The FlyAxis Capital (AXS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.25B
Dividend Yield1.76%
Average Volume (3M)684.56K
Price to Earnings (P/E)6.3
Beta (1Y)0.39
Revenue Growth9.43%
EPS Growth35.23%
CountryUS
Employees1,966
SectorFinancial
Sector Strength70
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)15.97
Shares Outstanding72,966,320
10 Day Avg. Volume620,286
30 Day Avg. Volume684,562
Financial Highlights & Ratios
PEG Ratio35.61
Price to Book (P/B)1.32
Price to Sales (P/S)1.28
P/FCF Ratio-204.57
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$124.11Price Target Upside24.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)12.29
Revenue Forecast (FY)$7.24B
Axis Capital Business Overview & Revenue Model
Company Description
AXIS Capital Holdings Ltd. engages in the provision of various insurance and reinsurance products and services. It operates through the Insurance and Reinsurance segments. The Insurance segment offers property, marine, terrorism, aviation, politic...
How the Company Makes Money
Axis primarily makes money through (1) underwriting income and (2) net investment income, with results influenced by catastrophe losses, claims development, pricing/terms, and investment market conditions.
1) Underwriting (core operating revenue ...
Axis Capital Earnings Call Summary
Earnings Call Date:Jul 28, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and financial performance: AXIS produced solid profitability, strong ROE, continued book value growth, targeted premium growth in insurance (15% YoY), reserve releases, and active capital returns. However, management highlighted material market headwinds — broad market softening, meaningful property rate declines (~17%), cyber rate compression (~7%), a strategic 25% reduction in reinsurance writings, and incremental loss pick increases (insurance underlying loss ratio +1.7 pts). Management emphasized disciplined portfolio and underwriting actions, active cycle-management, and investments in ACS, technology and talent to navigate the softening environment. Overall, the positives around profitability, disciplined execution and capital returns modestly outweigh the notable market and line-specific challenges discussed.Positive Updates
Strong Profitability and ROE
Net income available to common shareholders was $251 million ($3.38 per diluted share) with an annualized ROE of 17%. Operating income was $211 million ($2.84 per diluted share) producing an annualized operating ROE of ~14%.
Negative Updates
Market Softening and Pricing Pressure
Management observed broad market softening with increasing competition and pricing pressure across micro-markets; property pricing notably deteriorated.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Profitability and ROE
Net income available to common shareholders was $251 million ($3.38 per diluted share) with an annualized ROE of 17%. Operating income was $211 million ($2.84 per diluted share) producing an annualized operating ROE of ~14%.
Read all positive updates
Company Guidance
Management reiterated disciplined, metric-driven guidance focused on protecting capital and returning cash: Q2 metrics included gross written premiums of $2.7bn (+6% Y/Y) with insurance GWP $2.2bn (+15%) and reinsurance GWP $440m; group combined ratio 93.1% (insurance 90%, insurance current accident year ex‑cat 84.5%, reinsurance 94.5%); Q2 net income $251m ($3.38/share) and operating income $211m ($2.84/share) producing an annualized ROE of 17% and an operating ROE of ~14%; cat losses $80m (cat loss ratio 5.3%) including $49m SCS and $31m Middle East losses; reserve release $15m; acquisition expense ratio 20.8%; consolidated G&A 10.9% (targeting ~11% for the full year); fee income $22m in the quarter with ACS fees ~ $4m (expected to grow to ~ $17m for the full year); investment income $182m; effective tax rate ~19%; returned $122m to shareholders in Q2 (dividends $33m, buybacks $89m) with $263m remaining repurchase authority. They reiterated expectations of double‑digit reinsurance GWP declines for the year (Q2 down 25%; YTD ~10%), continued selective cycle‑management (short‑tail ~57% of premiums; 59% insurance, 51% reinsurance), and ongoing active buybacks.Axis Capital Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.82B | 6.56B | 6.02B | 5.59B | 5.30B | 5.32B |
| Gross Profit | 3.04B | 3.28B | 1.79B | 1.20B | 1.04B | 1.39B |
| EBITDA | 1.47B | 1.35B | 1.13B | 542.42M | 374.56M | 778.19M |
| Net Income | 1.23B | 1.01B | 1.08B | 376.29M | 223.08M | 618.61M |
Balance Sheet | ||||||
| Total Assets | 36.62B | 34.46B | 32.68B | 30.25B | 27.68B | 27.37B |
| Cash, Cash Equivalents and Short-Term Investments | 6.09B | 5.72B | 6.92B | 5.31B | 4.95B | 5.51B |
| Total Debt | 1.49B | 1.49B | 1.49B | 1.52B | 1.50B | 1.43B |
| Total Liabilities | 30.12B | 28.11B | 26.59B | 24.99B | 23.04B | 21.96B |
| Stockholders Equity | 6.50B | 6.36B | 6.09B | 5.26B | 4.64B | 5.41B |
Cash Flow | ||||||
| Free Cash Flow | 2.30B | -40.93M | 1.84B | 1.26B | 655.39M | 1.08B |
| Operating Cash Flow | 2.30B | -40.93M | 1.84B | 1.26B | 692.22M | 1.11B |
| Investing Cash Flow | -1.64B | -628.73M | 280.45M | -855.61M | -655.80M | -1.11B |
| Financing Cash Flow | -753.92M | -1.09B | -417.29M | -202.37M | -149.62M | -186.09M |
Axis Capital Technical Analysis
Negative
99.41
Price Trends
106.99
Negative
102.92
Negative
102.36
Negative
Market Momentum
-2.46
Positive
39.54
Neutral
49.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AXS, the sentiment is Negative. The current price of 99.41 is below the 20-day moving average (MA) of 101.53, below the 50-day MA of 106.99, and below the 200-day MA of 102.36, indicating a bearish trend. The MACD of -2.46 indicates Positive momentum. The RSI at 39.54 is Neutral, neither overbought nor oversold. The STOCH value of 49.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AXS.
Axis Capital Risk Analysis
Axis Capital disclosed 55 risk factors in its most recent earnings report. Axis Capital reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Axis Capital Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $8.84B | 15.64 | 29.06% | 0.24% | 15.82% | 28.42% | |
83 Outperform | $5.96B | 13.63 | 24.37% | 4.08% | 10.29% | 35.39% | |
78 Outperform | $5.47B | 11.46 | 13.87% | 1.80% | 7.30% | 32.16% | |
78 Outperform | $5.11B | 4.85 | 21.34% | 0.05% | 21.20% | 445.91% | |
76 Outperform | $7.91B | 10.76 | 21.22% | 1.72% | 5.57% | 38.39% | |
75 Outperform | $7.25B | 6.26 | 19.21% | 1.51% | 9.43% | 35.23% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
AXS
Axis Capital
100.01
3.05
3.14%
RLI
RLI
64.86
2.63
4.22%
SIGI
Selective Insurance Group
92.38
15.79
20.62%
THG
Hanover Insurance
228.41
58.50
34.43%
WTM
White Mountains Insurance Group
2,132.74
308.18
16.89%
KNSL
Kinsale Capital Group
387.13
-67.31
-14.81%
Axis Capital Corporate Events
Business Operations and StrategyExecutive/Board Changes
Axis Capital appoints Pradip Patiath to board
Positive
Jun 15, 2026
AXIS Capital announced on June 15, 2026, that it has appointed Pradip Patiath to its Board of Directors, effective the same day, expanding the board to twelve members, eleven of whom are independent. Patiath, a senior partner at McKinsey Company ...
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.