AXA SA

SWX:CS Stock Report

Market Cap: CHF 74.3b

AXA Valuation

Is CS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of CS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: CS (CHF37.96) is trading below our estimate of future cash flow value (CHF97.57)

Significantly Below Future Cash Flow Value: CS is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CS?

Key metric: As CS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for CS. This is calculated by dividing CS's market cap by their current earnings.
What is CS's PE Ratio?
PE Ratio11.1x
Earnings€7.27b
Market Cap€81.07b

Price to Earnings Ratio vs Peers

How does CS's PE Ratio compare to its peers?

The above table shows the PE ratio for CS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.5x
ZURN Zurich Insurance Group
15.3x6.52%CHF 81.9b
HBAN Helvetia Baloise Holding
35.8x25.26%CHF 19.5b
VAHN Vaudoise Assurances Holding
13.9xn/aCHF 2.2b
SREN Swiss Re
8.9x-4.45%CHF 34.2b
CS AXA
11.1x6.66%CHF 81.1b

Price-To-Earnings vs Peers: CS is good value based on its Price-To-Earnings Ratio (11.1x) compared to the peer average (18.5x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does CS's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
CS 11.1xIndustry Avg. 12.7xNo. of Companies12PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CS is good value based on its Price-To-Earnings Ratio (11.1x) compared to the European Insurance industry average (12.6x).

Price to Earnings Ratio vs Fair Ratio

What is CS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CS's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCHF 37.96
CHF 42.51
+11.97%
7.89%CHF 52.50CHF 36.58n/a19
May ’27CHF 37.96
CHF 42.26
+11.33%
6.08%CHF 46.50CHF 36.69n/a19
Apr ’27n/a
CHF 42.05
0%
6.13%CHF 46.30CHF 36.53n/a19
Mar ’27n/a
CHF 41.66
0%
5.68%CHF 45.44CHF 36.35n/a19
Feb ’27n/a
CHF 41.36
0%
5.62%CHF 45.84CHF 36.67n/a18
Jan ’27n/a
CHF 41.98
0%
4.53%CHF 44.82CHF 37.25n/a17
Dec ’26n/a
CHF 41.98
0%
4.48%CHF 44.85CHF 37.28n/a17
Nov ’26n/a
CHF 41.70
0%
4.33%CHF 44.63CHF 37.10n/a17
Oct ’26n/a
CHF 41.73
0%
4.64%CHF 44.69CHF 37.40n/a17
Sep ’26n/a
CHF 41.72
0%
4.72%CHF 44.74CHF 37.44n/a17
Aug ’26n/a
CHF 41.27
0%
4.72%CHF 44.56CHF 37.29n/a17
Jul ’26n/a
CHF 40.79
0%
5.26%CHF 44.67CHF 37.38n/a16
Jun ’26n/a
CHF 39.98
0%
4.65%CHF 44.73CHF 37.43CHF 37.9617
May ’26n/a
CHF 40.16
0%
4.65%CHF 44.93CHF 37.60CHF 37.9617
Apr ’26n/a
CHF 40.41
0%
5.49%CHF 45.74CHF 35.89n/a17
Mar ’26n/a
CHF 38.40
0%
7.61%CHF 44.76CHF 33.71n/a17
Feb ’26n/a
CHF 37.97
0%
6.00%CHF 41.83CHF 34.02n/a17
Jan ’26n/a
CHF 37.47
0%
6.36%CHF 41.16CHF 33.47n/a17
Dec ’25n/a
CHF 37.53
0%
6.32%CHF 41.26CHF 33.55n/a17
Nov ’25n/a
CHF 37.58
0%
7.07%CHF 41.77CHF 33.02n/a17
Oct ’25n/a
CHF 36.98
0%
6.95%CHF 41.64CHF 32.08n/a16
Sep ’25n/a
CHF 36.23
0%
6.98%CHF 40.06CHF 31.59n/a15
Aug ’25n/a
CHF 37.45
0%
6.54%CHF 41.88CHF 33.01n/a16
Jul ’25CHF 27.90
CHF 36.72
+31.61%
6.62%CHF 41.28CHF 32.54n/a16
Jun ’25CHF 27.90
CHF 37.06
+32.83%
7.38%CHF 42.18CHF 32.37n/a16
CHF 44.73
Fair Value
15.1% undervalued intrinsic discount
19
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/04 06:22
End of Day Share Price 2026/06/04 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

AXA SA is covered by 34 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Markus MayerBaader Helvea Equity Research
null nullBanco de Sabadell. S.A.
Valvanera Gómez PastorBanco Santander