ENXTPA:CS

Stock Analysis Report

Executive Summary

AXA SA, through its subsidiaries, provides insurance and asset management services worldwide.

Snowflake

Fundamentals

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has AXA's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.2%

CS

0.5%

FR Insurance

-0.4%

FR Market


1 Year Return

7.0%

CS

3.5%

FR Insurance

9.5%

FR Market

Return vs Industry: CS exceeded the French Insurance industry which returned 3.5% over the past year.

Return vs Market: CS underperformed the French Market which returned 9.5% over the past year.


Shareholder returns

CSIndustryMarket
7 Day1.2%0.5%-0.4%
30 Day4.5%2.4%-0.6%
90 Day1.5%-1.4%0.04%
1 Year13.4%7.0%9.2%3.5%13.3%9.5%
3 Year36.5%16.5%37.7%18.4%42.5%28.7%
5 Year71.8%33.6%69.3%32.4%71.0%45.0%

Price Volatility Vs. Market

How volatile is AXA's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is AXA undervalued compared to its fair value and its price relative to the market?

42.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CS (€23.93) is trading below our estimate of fair value (€41.51)

Significantly Undervalued: CS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CS is poor value based on its PE Ratio (40.9x) compared to the Insurance industry average (19.7x).

PE vs Market: CS is poor value based on its PE Ratio (40.9x) compared to the French market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: CS is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: CS is good value based on its PB Ratio (0.9x) compared to the FR Insurance industry average (0.9x).


Next Steps

Future Growth

How is AXA forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

16.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CS's forecast earnings growth (16.1% per year) is above the savings rate (0.7%).

Earnings vs Market: CS's earnings (16.1% per year) are forecast to grow faster than the French market (11.5% per year).

High Growth Earnings: CS's earnings are forecast to grow, but not significantly.

Revenue vs Market: CS's revenue is expected to decline over the next 3 years (-1.2% per year).

High Growth Revenue: CS's revenue is forecast to decline over the next 3 years (-1.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CS's Return on Equity is forecast to be low in 3 years time (11.2%).


Next Steps

Past Performance

How has AXA performed over the past 5 years?

-8.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CS's earnings have declined by -8.6% per year over the past 5 years.

Accelerating Growth: CS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CS had negative earnings growth (-74.7%) over the past year, making it difficult to compare to the Insurance industry average (5.9%).


Return on Equity

High ROE: CS's Return on Equity (-1%) is considered low.


Return on Assets

ROA vs Industry: CS's Return on Assets is below or equal to the Insurance industry average last year.


Return on Capital Employed

ROCE Improving: CS's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is AXA's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CS has a low level of unsold assets or inventory.

Debt Coverage by Assets: CS's debt is covered by short term assets (assets are 1.951220x debt).


Financial Institutions Analysis

Asset Level: CS's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if CS has a sufficient allowance for bad loans.

Low Risk Liabilities: CS reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CS has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CS has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CS has an appropriate level of bad loans.


Next Steps

Dividend

What is AXA's current dividend yield, its reliability and sustainability?

5.60%

Current Dividend Yield


Dividend Yield vs Market

company5.6%marketbottom25%1.6%markettop25%4.7%industryaverage5.4%forecastin3Years6.6%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CS's dividend (5.6%) is higher than the bottom 25% of dividend payers in the French market (1.56%).

High Dividend: CS's dividend (5.6%) is in the top 25% of dividend payers in the French market (4.72%)

Stable Dividend: CS's dividends per share have been stable in the past 10 years.

Growing Dividend: CS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (229%), CS's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CS's dividends in 3 years are forecast to be covered by earnings (57.4% payout ratio).


Next Steps

Management

What is the CEO of AXA's salary, the management and board of directors tenure and is there insider trading?

2.5yrs

Average management tenure


CEO

Thomas Buberl (46yo)

3.1yrs

Tenure

€5,042,394

Compensation

Dr. Thomas Buberl, Ph.D. served as Chairman of the Board at AXA Equitable Holdings, Inc., since November 2017 until March 2019 and has been its Director since September 2016. He has been Chief Executive Of ...


CEO Compensation Analysis

Compensation vs. Market: Thomas's total compensation ($USD5.62M) is about average for companies of similar size in the French market ($USD3.60M).

Compensation vs Earnings: Thomas's compensation has been consistent with company performance over the past year.


Management Age and Tenure

2.5yrs

Average Tenure

55.5yo

Average Age

Experienced Management: CS's management team is considered experienced (2.5 years average tenure).


Board Age and Tenure

7.5yrs

Average Tenure

64.5yo

Average Age

Experienced Board: CS's board of directors are considered experienced (7.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Gérald Harlin (64yo)

    Deputy CEO & CFO

    • Tenure: 9.8yrs
    • Compensation: €1.08m
  • Alban de Mailly Nesle (49yo)

    Chief Risk & Investment Officer

    • Tenure: 0.08yrs
  • Thomas Buberl (46yo)

    CEO & Director

    • Tenure: 3.1yrs
    • Compensation: €5.04m
  • Doina Palici-Chehab (62yo)

    Employee Shareholders' Representative Director

    • Tenure: 7.5yrs
    • Compensation: €108.07k
  • Andrew Wallace-Barnett

    Senior VP & Head of Investor Relations

    • Tenure: 5.8yrs
  • Helen Browne

    Group General Counsel

    • Tenure: 3.3yrs
  • Nicolas Leclercq

    Head of Group Corporate Finance & Treasury

    • Tenure: 0yrs
  • Astrid Stange

    Chief Operating Officer

    • Tenure: 1.8yrs
  • Marc Blottière

    Group Chief Information Officer

    • Tenure: 1.8yrs
  • Ulrike Decoene

    Group Head of Communications & Brand

    • Tenure: 0.6yrs

Board Members

  • Claude Bébéar (84yo)

    Honorary Chairman

    • Tenure: 9.5yrs
  • Denis Pierre Duverne (66yo)

    Chairman of the Board

    • Tenure: 1.5yrs
  • Ramon de Oliveira-Cezar (65yo)

    Independent Director

    • Tenure: 10.5yrs
    • Compensation: €179.08k
  • Stefan Lippe (64yo)

    Independent Director

    • Tenure: 7.5yrs
    • Compensation: €215.76k
  • Jean-Pierre Clamadieu (61yo)

    Senior Independent Director

    • Tenure: 0.5yrs
    • Compensation: €103.09k
  • François Martineau (68yo)

    Director

    • Tenure: 11.5yrs
    • Compensation: €81.36k
  • Jean-Denis Talon (78yo)

    Chairman of AXA Canada Operations

    • Tenure: 0yrs
  • Thomas Buberl (46yo)

    CEO & Director

    • Tenure: 3.1yrs
    • Compensation: €5.04m
  • Doina Palici-Chehab (62yo)

    Employee Shareholders' Representative Director

    • Tenure: 7.5yrs
    • Compensation: €108.07k
  • Jacques de Peretti (59yo)

    Chairman & CEO of AXA France

    • Tenure: 1.3yrs

Company Information

AXA SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: AXA SA
  • Ticker: CS
  • Exchange: ENXTPA
  • Founded: 1852
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: €57.082b
  • Shares outstanding: 2.39b
  • Website: https://www.axa.com

Number of Employees


Location

  • AXA SA
  • 25, avenue Matignon
  • Paris
  • Ile-de-France
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
0HARLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1980
CSWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1980
CSENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1980
AXADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1980
AXA NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1980
CSSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1980
AXAH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1980
AXABIT (Borsa Italiana)YesOrdinary SharesITEURJan 1980
AXAXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1980
CSPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1980
AXAADB (Deutsche Boerse AG)SPONSORED ADRDEEURJun 1996
AXAH.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDJun 1996

Biography

AXA SA, through its subsidiaries, provides insurance and asset management services worldwide. It operates in seven segments: France, Europe, Asia, AXA XL, the United States, International, and Transversal  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:40
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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 here.