AXA SA

SWX:CS Stock Report

Market Cap: CHF73.4b

AXA Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair 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.

Below Fair Value: CS (CHF27.9) is trading below our estimate of fair value (CHF58.02)

Significantly Below Fair Value: CS is trading below fair value by more than 20%.

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

CS key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.4x
Enterprise Value/EBITDA14.3x
PEG Ratio1.8x

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 Average19.1x
ZURN Zurich Insurance Group
16.1x8.9%CHF64.0b
HELN Helvetia Holding
22.8x12.5%CHF6.3b
BALN Bâloise Holding
27.6x18.4%CHF6.6b
VAHN Vaudoise Assurances Holding
9.9xn/aCHF1.3b
CS AXA
10.7x5.9%CHF75.2b

Price-To-Earnings vs Peers: CS is good value based on its Price-To-Earnings Ratio (10.7x) compared to the peer average (19.1x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.4%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.4%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: CS is good value based on its Price-To-Earnings Ratio (10.7x) compared to the European Insurance industry average (11.3x).

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 Ratio10.7x
Fair PE Ratio13.9x

Price-To-Earnings vs Fair Ratio: CS is good value based on its Price-To-Earnings Ratio (10.7x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).

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
CurrentCHF27.90
CHF36.41
+30.5%
7.5%CHF41.00CHF31.35n/a17
Apr ’25CHF27.90
CHF36.07
+29.3%
7.9%CHF41.14CHF31.46n/a17
Mar ’25CHF27.90
CHF33.70
+20.8%
8.5%CHF39.66CHF28.19n/a18
Feb ’25CHF27.90
CHF32.74
+17.3%
8.0%CHF37.52CHF27.67n/a18
Jan ’25CHF27.90
CHF32.39
+16.1%
7.2%CHF36.75CHF27.80n/a18
Dec ’24CHF38.05
CHF32.28
-15.2%
6.8%CHF36.87CHF27.89n/a18
Nov ’24CHF38.05
CHF32.51
-14.6%
8.0%CHF37.54CHF28.40n/a17
Oct ’24CHF38.05
CHF32.54
-14.5%
7.5%CHF37.74CHF28.54n/a17
Sep ’24CHF38.05
CHF32.18
-15.4%
7.8%CHF36.42CHF26.83n/a17
Aug ’24CHF38.05
CHF31.77
-16.5%
7.1%CHF34.92CHF26.72n/a17
Jul ’24CHF38.05
CHF32.64
-14.2%
6.9%CHF35.74CHF27.34n/a18
Jun ’24CHF38.05
CHF32.30
-15.1%
6.8%CHF35.54CHF27.19n/a19
May ’24CHF38.05
CHF32.83
-13.7%
6.2%CHF35.84CHF27.87n/a19
Apr ’24CHF38.05
CHF32.83
-13.7%
6.2%CHF35.84CHF27.87CHF27.9019
Mar ’24CHF38.05
CHF32.84
-13.7%
5.7%CHF35.58CHF28.06CHF27.9019
Feb ’24CHF38.05
CHF32.42
-14.8%
4.9%CHF35.15CHF28.12CHF27.9019
Jan ’24CHF38.05
CHF31.24
-17.9%
4.3%CHF33.59CHF27.66CHF27.9019
Dec ’23CHF38.05
CHF31.13
-18.2%
3.8%CHF33.36CHF28.45CHF38.0519
Nov ’23CHF27.03
CHF30.07
+11.2%
6.1%CHF32.62CHF26.69CHF38.0519
Oct ’23CHF27.03
CHF29.55
+9.3%
6.9%CHF32.86CHF25.13CHF38.0519
Sep ’23CHF27.03
CHF29.54
+9.3%
7.1%CHF32.82CHF24.79CHF38.0519
Aug ’23CHF27.03
CHF29.33
+8.5%
7.6%CHF33.13CHF25.03CHF38.0518
Jul ’23CHF27.03
CHF31.22
+15.5%
6.3%CHF34.59CHF27.75CHF38.0518
Jun ’23CHF27.03
CHF31.46
+16.4%
6.1%CHF34.94CHF28.03CHF38.0519
May ’23CHF27.03
CHF31.45
+16.3%
5.4%CHF34.91CHF28.34CHF38.0520
Apr ’23CHF27.03
CHF31.31
+15.8%
7.1%CHF35.95CHF26.71CHF38.0520

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

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