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AXA SA
(CS)
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Rating:74Outperform
Price Target:
€50.00
▲(14.47% 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
Strong Cash Generation
Strong operating and free cash flow supports claims payments, investment, dividends and debt reduction. Close alignment between free cash flow and net income also indicates that reported earnings have generally converted into cash, strengthening financial resilience.
Negative Factors
Operating Profit Reporting Uncertainty
The mismatch between zero reported operating profit and substantial net income makes underlying operating performance harder to assess. Until clarified, it reduces confidence in margin sustainability, earnings comparability and the quality of forward profitability analysis.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Cash Generation
Strong operating and free cash flow supports claims payments, investment, dividends and debt reduction. Close alignment between free cash flow and net income also indicates that reported earnings have generally converted into cash, strengthening financial resilience.
Read all positive factors
AXA SA (CS) vs. iShares MSCI France ETF (EWQ)
Market Cap
€87.57B
Dividend Yield5.54%
Average Volume (3M)3.15M
Price to Earnings (P/E)8.5
Beta (1Y)0.94
Revenue Growth10.86%
EPS Growth36.10%
CountryFR
Employees107,756
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)4.92
Shares Outstanding2,090,961,200
10 Day Avg. Volume4,117,294
30 Day Avg. Volume3,153,302
Financial Highlights & Ratios
PEG Ratio0.30
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
€52.77Price Target Upside20.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)4.16
Revenue Forecast (FY)€76.03B
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 | 107.87B | 100.18B | 86.09B | 110.65B |
| Gross Profit | 37.55B | 31.38B | 34.09B | 28.50B | 11.62B | 32.87B |
| EBITDA | 10.43B | 9.89B | 10.02B | 8.48B | 6.43B | 10.53B |
| Net Income | 10.05B | 9.80B | 7.89B | 7.19B | 5.06B | 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
Negative
43.68
Price Trends
44.13
Negative
43.13
Negative
40.33
Positive
Market Momentum
-0.27
Positive
35.20
Neutral
15.13
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:CS, the sentiment is Negative. The current price of 43.68 is below the 20-day moving average (MA) of 43.73, below the 50-day MA of 44.13, and above the 200-day MA of 40.33, indicating a neutral trend. The MACD of -0.27 indicates Positive momentum. The RSI at 35.20 is Neutral, neither overbought nor oversold. The STOCH value of 15.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
84 Outperform | €18.79B | 10.62 | 13.13% | 4.84% | 1.21% | -18.98% | |
79 Outperform | €2.43B | 11.47 | 9.36% | 7.95% | 0.01% | -15.41% | |
78 Outperform | €104.94B | 7.92 | 11.06% | 6.34% | 7.57% | 22.65% | |
74 Outperform | €87.57B | 8.52 | 24.07% | 5.54% | 10.86% | 36.10% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | €740.01M | 9.65 | 2.86% | 2.87% | -4.60% | 22.52% |
* General Sector Average
FR:CS
AXA SA
42.07
3.97
10.43%
FR:AMUN
Amundi SA
88.95
22.78
34.42%
FR:BNP
BNP Paribas
92.06
18.75
25.57%
FR:CAT31
Caisse Regionale de Credit Agricole Mutuel Toulouse 31
102.82
-17.46
-14.51%
FR:CAF
CRCAM dlle-de France
85.00
-19.47
-18.64%
FR:COFA
Coface SA
15.71
0.83
5.58%
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.