ENXTPA:CS

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Undervalued with proven track record and pays a dividend.


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

Stable Share Price: CS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-3.4%

CS

-4.8%

FR Insurance

-1.3%

FR Market


1 Year Return

-39.8%

CS

-38.6%

FR Insurance

-7.5%

FR Market

Return vs Industry: CS underperformed the French Insurance industry which returned -38.6% over the past year.

Return vs Market: CS underperformed the French Market which returned -7.5% over the past year.


Shareholder returns

CSIndustryMarket
7 Day-3.4%-4.8%-1.3%
30 Day-6.2%-3.7%2.9%
90 Day-18.0%-14.0%-1.4%
1 Year-37.4%-39.8%-36.8%-38.6%-5.5%-7.5%
3 Year-33.9%-43.2%-33.0%-41.4%5.9%-3.2%
5 Year-22.7%-39.8%-17.5%-34.8%30.8%11.4%

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?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CS (€14.68) is trading below our estimate of fair value (€30.78)

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


Price To Earnings Ratio

PE vs Industry: CS is good value based on its PE Ratio (12.7x) compared to the FR Insurance industry average (13x).

PE vs Market: CS is good value based on its PE Ratio (12.7x) compared to the French market (18.6x).


Price to Earnings Growth Ratio

PEG Ratio: CS is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: CS's PB Ratio (0.5x) is in line with the FR Insurance industry average.


Next Steps

Future Growth

How is AXA forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

22.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CS's forecast earnings growth (22.2% per year) is above the savings rate (0.6%).

Earnings vs Market: CS's earnings (22.2% per year) are forecast to grow slower than the French market (23.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CS's revenue (1.3% per year) is forecast to grow slower than the French market (6.8% per year).

High Growth Revenue: CS's revenue (1.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CS's Return on Equity is forecast to be low in 3 years time (12.7%).


Next Steps

Past Performance

How has AXA performed over the past 5 years?

-16.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CS has high quality earnings.

Growing Profit Margin: CS's current net profit margins (2.5%) are higher than last year (1.1%).


Past Earnings Growth Analysis

Earnings Trend: CS's earnings have declined by 16.6% per year over the past 5 years.

Accelerating Growth: CS's earnings growth over the past year (95.3%) exceeds its 5-year average (-16.6% per year).

Earnings vs Industry: CS earnings growth over the past year (95.3%) exceeded the Insurance industry -1.1%.


Return on Equity

High ROE: CS's Return on Equity (3.7%) is considered low.


Next Steps

Financial Health

How is AXA's financial position?


Financial Position Analysis

Short Term Liabilities: CS's short term assets (€137.7B) exceed its short term liabilities (€45.4B).

Long Term Liabilities: CS's short term assets (€137.7B) do not cover its long term liabilities (€675.2B).


Debt to Equity History and Analysis

Debt Level: CS's debt to equity ratio (74.3%) is considered high.

Reducing Debt: CS's debt to equity ratio has increased from 42.3% to 74.3% over the past 5 years.

Debt Coverage: CS's debt is well covered by operating cash flow (32.5%).

Interest Coverage: CS's interest payments on its debt are well covered by EBIT (5.8x coverage).


Balance Sheet


Next Steps

Dividend

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

4.97%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CS's dividend (4.97%) is higher than the bottom 25% of dividend payers in the French market (1.56%).

High Dividend: CS's dividend (4.97%) is low compared to the top 25% of dividend payers in the French market (5.29%).


Stability and Growth of Payments

Stable Dividend: CS's dividend payments have been volatile 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 reasonable payout ratio (63.4%), CS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CS's dividends in 3 years are forecast to be covered by earnings (52.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Thomas Buberl (47 yo)

4.08yrs

Tenure

€5,088,102

Compensation

Dr. Thomas Buberl, Ph.D. has been Independent Director of International Business Machines Corporation since April 28, 2020. Dr. Buberl served as Chairman of the Board at AXA Equitable Holdings, Inc., since ...


CEO Compensation Analysis

Compensation vs Market: Thomas's total compensation ($USD6.02M) is above average for companies of similar size in the French market ($USD4.01M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Thomas Buberl
CEO & Director4.08yrs€5.09m0.013%
€ 4.7m
Doina Palici-Chehab
Chief Integration Officerno data€110.76k0.00076%
€ 265.9k
Etienne Marc Bouas-Laurent
Group Chief Financial Officer0.75yrno datano data
Astrid Stange
Chief Operating Officer2.83yrsno datano data
Alban de Mailly Nesle
Chief Risk & Investment Officer1.08yrsno datano data
Nicolas Leclercq
Head of Group Corporate Finance & Treasuryno datano datano data
Marc Blottière
Group Chief Information Officer2.75yrsno datano data
Andrew Wallace-Barnett
Senior VP & Head of Investor Relations6.75yrsno datano data
Helen Browne
Group General Counsel & Director0.33yrno datano data
Ulrike Decoene
Group Head of Communications1.58yrsno datano data
Karima Silvent
Chief Human Resources Officerno datano datano data
Jeremy Martin
Executive Vice Presidentno datano datano data

2.8yrs

Average Tenure

52.5yo

Average Age

Experienced Management: CS's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Thomas Buberl
CEO & Director4.08yrs€5.09m0.013%
€ 4.7m
Helen Browne
Group General Counsel & Director0.33yrno datano data
Jacques de Peretti
Chairman & CEO of AXA France2.33yrsno datano data
André François-Poncet
Independent Director3.83yrs€137.38k0.00033%
€ 115.4k
Claude Bébéar
Honorary Chairman10.5yrsno datano data
Denis Pierre Duverne
Chairman of the Board4.08yrsno data0.066%
€ 23.1m
Ramon de Oliveira-Cezar
Independent Director11.5yrs€180.72k0.00047%
€ 164.4k
Jean-Pierre Clamadieu
Senior Independent Director1.5yrs€176.42k0.00038%
€ 132.9k
Jean-Denis Talon
Chairman of AXA Canada Operationsno datano datano data
Irene Dorner
Independent Director4.5yrs€127.59k0.00028%
€ 97.9k
Angelien G. Kemna
Independent Director4.5yrs€132.90k0.00030%
€ 104.9k
Rachel Duan
Independent Director2.5yrs€95.50k0.00017%
€ 59.5k

4.1yrs

Average Tenure

63yo

Average Age

Experienced Board: CS's board of directors are considered experienced (4.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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: €34.981b
  • Shares outstanding: 2.38b
  • 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
AXAH.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1980
CSENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1980
AXADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1980
CSSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1980
0HARLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1980
AXABIT (Borsa Italiana)YesOrdinary SharesITEURJan 1980
AXAXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1980
CSPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1980
AXA NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1980
CSWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1980
AXAH.YOTCPK (Pink Sheets LLC)ADS-EACH REP 1 ORD EUR2.29USUSDJun 1996
AXAADB (Deutsche Boerse AG)ADS-EACH REP 1 ORD EUR2.29DEEURJun 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 Analysis2020/10/22 22:02
End of Day Share Price2020/10/22 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.