AXA Balance Sheet Health
Financial Health criteria checks 4/6
AXA has a total shareholder equity of €53.2B and total debt of €60.3B, which brings its debt-to-equity ratio to 113.5%. Its total assets and total liabilities are €635.5B and €582.4B respectively. AXA's EBIT is €10.4B making its interest coverage ratio 16.6. It has cash and short-term investments of €69.1B.
Key information
113.52%
Debt to equity ratio
€60.34b
Debt
| Interest coverage ratio | 16.6x |
| Cash | €69.06b |
| Equity | €53.16b |
| Total liabilities | €582.38b |
| Total assets | €635.54b |
Recent financial health updates
No updates
Recent updates
Narrative Update • Jun 03
CS: Higher Fair Value And P/E Assumptions Will Support Measured Re Rating
AXA's analyst price target has edged higher by about €0.35, with analysts pointing to modestly revised assumptions around fair value, discount rate, profit margin and future P/E. This move is supported by recent research that includes both a €1 target increase and a €1 reduction from different banks, alongside a bullish initiation.Narrative Update • May 08
CS: Technical And Fee-Based Shift Plus Buybacks Will Support Measured Re-Rating
AXA's fair value estimate edges higher to €46.12 from €46.07 as analysts refine assumptions around revenue growth, profit margins and future P/E, supported by a series of recent price target increases and bullish initiations on the stock. Analyst Commentary Recent Street research around AXA has been active, with several price target revisions and fresh initiations feeding into the updated fair value estimate.Narrative Update • Apr 22
CS: Technical And Fee-Based Earnings Mix Will Support Re-Rating As Discount Persists
Analysts have nudged their average price target for AXA slightly higher to about €46.07. This reflects modest tweaks to assumptions around discount rates, profit margins and future P/E multiples, alongside recent Street research that includes both upward and downward target revisions clustered around the €46 to €50 range.Narrative Update • Apr 07
CS: Technical And Fee-Based Earnings Shift Will Support Re-Rating As Discount Persists
AXA's analyst price targets have edged higher into a €46 to €50.70 range, as analysts point to improved profitability from technical insurance and fee-based earnings, along with what they view as an ongoing discount to European composite peers. Analyst Commentary Recent research points to a cluster of higher price targets for AXA, with analysts largely focused on the mix of technical insurance and fee-based earnings and how that feeds into profitability, earnings stability, and valuation relative to European peers.Narrative Update • Mar 24
CS: Technical And Fee-Based Shift Will Support Re-Rating As Discount Persists
Analysts have nudged AXA's average price target higher to around €48 to €51, citing improved profitability from its focus on technical insurance and fee-based earnings and pointing out that the current valuation still sits at a discount to European composite peers. Analyst Commentary Recent Street research has tilted positive on AXA, with several banks lifting their price targets into a relatively tight band between €46 and about €51.Narrative Update • Mar 10
CS: Technical And Fee-Based Shift Will Support Re-Rating Versus European Composite Peers
Our AXA fair value estimate has been adjusted from €45.27 to €46.05. This reflects higher analyst price targets in the €46 to €50.70 range and their focus on improved profitability, lower earnings volatility and a reduced P/E assumption.Narrative Update • Feb 23
CS: Technical And Fee-Based Shift Will Support Higher Future Earnings Multiple
Analysts have nudged their price target for AXA slightly higher to about €45.27 from roughly €45.11, citing continued focus on technical insurance and fee-based earnings that they say is supporting improved profitability and a higher assumed future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the shift towards technical insurance and fee-based earnings as a key support for more stable and higher quality profit streams, which they see as supportive of a stronger P/E multiple over time.Narrative Update • Feb 08
CS: Slightly Lower Discount Rate Will Support Forward Earnings Appeal
The analyst fair value estimate for AXA has been adjusted slightly higher to €45.11 from €45.06, as analysts refine their assumptions around discount rates, revenue growth, profit margins and future P/E multiples. Valuation Changes Fair Value Estimate adjusted slightly higher to €45.11 from €45.06.Narrative Update • Jan 24
CS: Stable Assumptions And Slightly Higher Required Return Will Support Forward Earnings Appeal
Analysts have slightly raised their fair value estimate for AXA to €45.06 from €44.98, citing adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E that together support a marginally higher price target. Valuation Changes Fair value estimate is now set at €45.06, up slightly from €44.98, reflecting a very small adjustment in the model.Narrative Update • Jan 10
CS: Stable Assumptions And Slightly Lower P/E Will Support Forward Earnings Appeal
Analysts have reduced their price target for AXA slightly to about €45, reflecting small adjustments to fair value estimates, discount rate assumptions and future P/E expectations, while keeping revenue growth and profit margin forecasts broadly unchanged. Valuation Changes Fair Value: Adjusted slightly from €45.07 to €44.98, indicating a very small reduction in the estimated fair value per share.Narrative Update • Dec 17
CS: Lower Discount Rate Will Support Stronger Forward Earnings Appeal
Analysts have nudged their price target on AXA slightly higher to approximately €45.07 from about €45.04, citing a marginally lower discount rate and modest improvements in projected profit margins that together support a slightly richer valuation multiple. Valuation Changes Fair Value has risen slightly from approximately €45.04 to about €45.07, reflecting a marginal uplift in the intrinsic valuation estimate.Narrative Update • Dec 03
CS: Modestly Higher Future Multiple Will Support Attractive Upside Potential
Analysts have modestly raised their price target on AXA to €45.04, citing a slightly higher assumed future price to earnings multiple, which more than offsets marginal adjustments to the discount rate and profit margin forecasts. Valuation Changes Fair Value Estimate unchanged at approximately €45.04 per share, indicating no revision to the intrinsic value assessment.Narrative Update • Nov 19
CS: Strong Profit Margins And Stable P/E Will Drive Future Gains
Analysts have slightly raised their price target for AXA, increasing it from €44.96 to €45.04. This change is based on modest adjustments to projected revenue growth, profit margins, and discount rates.Narrative Update • Nov 02
CS: Rising Profit Margins And Multiples Will Drive Global Expansion
Analysts have slightly raised their price target for AXA from €44.58 to €44.96, citing incremental improvements in profit margin and expected future earnings multiples as key factors supporting the revision. Valuation Changes Fair Value has increased slightly from €44.58 to €44.96.Analysis Article • Aug 05
These Analysts Think AXA SA's (EPA:CS) Sales Are Under Threat
ENXTPA:CS 1 Year Share Price vs Fair Value Explore AXA's Fair Values from the Community and select yours One thing we...Analysis Article • Jul 04
Here's Why AXA (EPA:CS) Has Caught The Eye Of Investors
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
New Narrative • Nov 07
Calculated Market Expansion And Innovative Products Drive Revenue Growth And Profitability
AXA's disciplined pricing and focus on operational excellence aim to enhance profitability in international markets.Financial Position Analysis
Short Term Liabilities: CS's short term assets (€108.6B) exceed its short term liabilities (€56.4B).
Long Term Liabilities: CS's short term assets (€108.6B) do not cover its long term liabilities (€526.0B).
Debt to Equity History and Analysis
Debt Level: CS has more cash than its total debt.
Reducing Debt: CS's debt to equity ratio has increased from 76.8% to 113.5% over the past 5 years.
Debt Coverage: CS's debt is well covered by operating cash flow (37.6%).
Interest Coverage: CS's interest payments on its debt are well covered by EBIT (16.6x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/09 07:01 |
| End of Day Share Price | 2026/06/09 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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Industry and Sector Metrics
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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.
| Analyst | Institution |
|---|---|
| Markus Mayer | Baader Helvea Equity Research |
| null null | Banco de Sabadell. S.A. |
| Valvanera Gómez Pastor | Banco Santander |