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AXIS Capital Holdings

NYSE:AXS
Snowflake Description

Average dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AXS
NYSE
$5B
Market Cap
  1. Home
  2. US
  3. Insurance
Company description

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. The last earnings update was 80 days ago. More info.


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AXS Share Price and Events
7 Day Returns
-1.2%
NYSE:AXS
-1.7%
US Insurance
-1.2%
US Market
1 Year Returns
3.3%
NYSE:AXS
14%
US Insurance
3.4%
US Market
AXS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AXIS Capital Holdings (AXS) -1.2% 0.4% 3.8% 3.3% 11.4% 35.6%
US Insurance -1.7% 0.7% 8.6% 14% 37.2% 51.5%
US Market -1.2% 0.7% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • AXS underperformed the Insurance industry which returned 14% over the past year.
  • AXS matched the United States of America Market (3.4%) over the past year.
Price Volatility
AXS
Industry
5yr Volatility vs Market

Value

 Is AXIS Capital Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AXIS Capital Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AXIS Capital Holdings.

NYSE:AXS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= $58.95 * 9.6%
$5.66
Book Value of Equity per Share Weighted future Book Value estimates from 6 analysts. $58.95
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:AXS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.685 (1 + (1- 21%) (29.56%))
0.896
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.9
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.896 * 5.96%)
8.07%

Discounted Cash Flow Calculation for NYSE:AXS using Excess Returns Model Model

The calculations below outline how an intrinsic value for AXIS Capital Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:AXS Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.6% – 8.07%) * $58.95)
$0.90
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.90 / (8.07% - 2.73%)
$16.92
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $58.95 + $16.92
$75.86
NYSE:AXS Discount to Share Price
Calculation Result
Value per share (USD) From above. $75.86
Current discount Discount to share price of $59.91
= -1 x ($59.91 - $75.86) / $75.86
21%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price AXIS Capital Holdings is available for.
Intrinsic value
21%
Share price is $59.91 vs Future cash flow value of $75.86
Current Discount Checks
For AXIS Capital Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AXIS Capital Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • AXIS Capital Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AXIS Capital Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AXIS Capital Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:AXS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.43
NYSE:AXS Share Price ** NYSE (2019-07-19) in USD $59.91
United States of America Insurance Industry PE Ratio Median Figure of 89 Publicly-Listed Insurance Companies 17.47x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AXIS Capital Holdings.

NYSE:AXS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:AXS Share Price ÷ EPS (both in USD)

= 59.91 ÷ 0.43

139.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AXIS Capital Holdings is overvalued based on earnings compared to the US Insurance industry average.
  • AXIS Capital Holdings is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does AXIS Capital Holdings's expected growth come at a high price?
Raw Data
NYSE:AXS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 139.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
30.6%per year
United States of America Insurance Industry PEG Ratio Median Figure of 62 Publicly-Listed Insurance Companies 1.73x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:AXS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 139.22x ÷ 30.6%

4.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AXIS Capital Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on AXIS Capital Holdings's assets?
Raw Data
NYSE:AXS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $53.91
NYSE:AXS Share Price * NYSE (2019-07-19) in USD $59.91
United States of America Insurance Industry PB Ratio Median Figure of 118 Publicly-Listed Insurance Companies 1.24x
United States of America Market PB Ratio Median Figure of 5,247 Publicly-Listed Companies 1.79x
NYSE:AXS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:AXS Share Price ÷ Book Value per Share (both in USD)

= 59.91 ÷ 53.91

1.11x

* Primary Listing of AXIS Capital Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AXIS Capital Holdings is good value based on assets compared to the US Insurance industry average.
X
Value checks
We assess AXIS Capital Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. AXIS Capital Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is AXIS Capital Holdings expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
30.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AXIS Capital Holdings expected to grow at an attractive rate?
  • AXIS Capital Holdings's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • AXIS Capital Holdings's earnings growth is expected to exceed the United States of America market average.
  • AXIS Capital Holdings's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:AXS Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:AXS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 30.6%
NYSE:AXS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.7%
United States of America Insurance Industry Earnings Growth Rate Market Cap Weighted Average 8.5%
United States of America Insurance Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:AXS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:AXS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,965 508 1
2020-12-31 4,784 488 4
2019-12-31 4,501 421 4
NYSE:AXS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 5,091 41 36
2018-12-31 5,090 11 0
2018-09-30 5,202 78 161
2018-06-30 4,997 68 -350
2018-03-31 4,828 208 -358
2017-12-31 4,577 259 -416
2017-09-30 4,217 453 -247
2017-06-30 4,156 493 398
2017-03-31 4,129 385 432
2016-12-31 4,006 407 465
2016-09-30 3,977 354 469
2016-06-30 3,811 738 540

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AXIS Capital Holdings's earnings are expected to grow significantly at over 20% yearly.
  • AXIS Capital Holdings's revenue is expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:AXS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from AXIS Capital Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AXS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 6.28 6.40 6.15 2.00
2020-12-31 5.80 5.90 5.70 5.00
2019-12-31 5.01 5.50 4.57 5.00
NYSE:AXS Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.43
2018-12-31 0.00
2018-09-30 1.93
2018-06-30 -4.21
2018-03-31 -4.29
2017-12-31 -4.94
2017-09-30 -2.90
2017-06-30 4.58
2017-03-31 4.87
2016-12-31 5.13
2016-09-30 5.05
2016-06-30 5.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • AXIS Capital Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess AXIS Capital Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AXIS Capital Holdings has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has AXIS Capital Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AXIS Capital Holdings's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AXIS Capital Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • AXIS Capital Holdings has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • AXIS Capital Holdings has become profitable in the last year making it difficult to compare the US Insurance industry average.
Earnings and Revenue History
AXIS Capital Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AXIS Capital Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:AXS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 5,091.44 35.98 632.64
2018-12-31 5,090.41 0.40 627.39
2018-09-30 5,202.28 160.76 635.67
2018-06-30 4,996.68 -350.42 605.40
2018-03-31 4,828.19 -358.25 588.01
2017-12-31 4,576.55 -415.78 579.43
2017-09-30 4,217.47 -246.79 596.87
2017-06-30 4,156.22 397.60 615.14
2017-03-31 4,129.40 432.06 614.08
2016-12-31 4,005.66 465.46 602.72
2016-09-30 3,976.79 469.34 544.92
2016-06-30 3,810.53 540.32 576.75
2016-03-31 3,773.82 484.18 578.48
2015-12-31 3,850.31 601.56 591.82
2015-09-30 3,915.72 630.44 651.60
2015-06-30 4,137.33 661.92 629.79
2015-03-31 4,265.41 789.23 632.39
2014-12-31 4,346.52 770.66 621.88
2014-09-30 4,388.45 778.52 600.91
2014-06-30 4,315.30 636.54 588.69
2014-03-31 4,210.74 518.32 586.64
2013-12-31 4,196.37 683.91 575.39
2013-09-30 4,093.82 493.83 572.59
2013-06-30 4,066.97 580.12 532.51
2013-03-31 3,977.08 675.82 544.80
2012-12-31 3,926.57 495.00 526.98
2012-09-30 3,896.83 593.62 495.58

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AXIS Capital Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • AXIS Capital Holdings used its assets less efficiently than the US Insurance industry average last year based on Return on Assets.
  • AXIS Capital Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess AXIS Capital Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AXIS Capital Holdings has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is AXIS Capital Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AXIS Capital Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AXIS Capital Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • AXIS Capital Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of AXIS Capital Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 7.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AXIS Capital Holdings Company Filings, last reported 3 months ago.

NYSE:AXS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 5,300.16 1,342.35 1,194.02
2018-12-31 5,030.07 1,343.08 1,376.85
2018-09-30 5,272.27 1,378.69 1,209.69
2018-06-30 5,253.01 1,378.18 1,258.35
2018-03-31 5,264.40 1,378.21 1,283.98
2017-12-31 5,341.26 1,378.09 1,032.74
2017-09-30 5,454.70 993.80 1,366.29
2017-06-30 5,892.70 993.51 738.67
2017-03-31 6,230.37 993.23 1,178.60
2016-12-31 6,272.37 992.95 1,166.96
2016-09-30 6,025.66 992.63 888.08
2016-06-30 5,964.18 992.36 834.03
2016-03-31 5,950.26 992.09 806.86
2015-12-31 5,866.88 991.83 1,022.54
2015-09-30 5,826.37 991.56 999.41
2015-06-30 5,948.56 991.30 1,020.01
2015-03-31 6,046.24 991.05 1,034.97
2014-12-31 5,879.94 991.04 1,029.36
2014-09-30 5,880.12 1,491.12 1,404.81
2014-06-30 6,008.51 1,490.70 1,144.19
2014-03-31 5,878.27 1,490.27 1,502.70
2013-12-31 5,867.96 995.86 970.41
2013-09-30 5,787.83 995.84 1,134.30
2013-06-30 5,561.95 995.55 1,056.71
2013-03-31 5,889.43 995.39 898.62
2012-12-31 5,779.76 995.25 868.68
2012-09-30 5,856.27 995.10 891.40
  • AXIS Capital Holdings's level of debt (25.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (25.3% vs 25.3% today).
  • Debt is not well covered by operating cash flow (3.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess AXIS Capital Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AXIS Capital Holdings has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is AXIS Capital Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.67%
Current annual income from AXIS Capital Holdings dividends. Estimated to be 2.83% next year.
If you bought $2,000 of AXIS Capital Holdings shares you are expected to receive $53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AXIS Capital Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • AXIS Capital Holdings's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:AXS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America Insurance Industry Average Dividend Yield Market Cap Weighted Average of 80 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:AXS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.84 5.00
2020-12-31 1.68 8.00
2019-12-31 1.62 8.00
NYSE:AXS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-02 1.600 2.692
2019-02-21 1.600 2.837
2018-12-06 1.600 2.972
2018-09-26 1.560 2.805
2018-05-02 1.560 2.747
2018-04-26 1.560 2.648
2017-12-07 1.560 2.988
2017-09-27 1.520 2.799
2017-05-04 1.520 2.420
2017-02-24 1.520 2.256
2016-12-09 1.520 2.309
2016-09-22 1.400 2.408
2016-05-05 1.400 2.557
2016-02-25 1.400 2.565
2015-12-07 1.400 2.569
2015-09-11 1.160 2.125
2015-05-08 1.160 2.092
2015-02-20 1.160 2.239
2014-12-05 1.160 2.295
2014-09-12 1.080 2.243
2014-05-08 1.080 2.365
2014-02-21 1.080 2.380
2013-12-09 1.080 2.374
2013-09-18 1.000 2.148
2013-05-03 1.000 2.251
2013-02-22 1.000 2.394
2012-12-17 1.000 2.676
2012-09-21 0.960 2.690
2012-05-03 0.960 2.863
2012-03-01 0.960 2.898
2011-12-08 0.960 3.045
2011-09-21 0.920 3.186
2011-05-05 0.920 3.027
2011-03-03 0.920 2.642
2010-12-09 0.920 2.547
2010-11-02 0.840 2.349
2010-11-01 0.840 2.433
2010-05-06 0.840 2.663
2010-03-04 0.840 2.672
2009-12-10 0.840 2.880
2009-09-18 0.800 2.697
2009-05-06 0.800 2.966
2009-03-05 0.800 3.408
2008-12-04 0.800 3.090
2008-09-19 0.740 2.853

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of AXIS Capital Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess AXIS Capital Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AXIS Capital Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AXIS Capital Holdings has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Albert Benchimol
COMPENSATION $7,804,796
AGE 61
TENURE AS CEO 7.2 years
CEO Bio

Mr. Albert A. Benchimol has been External Member of the Council at Lloyd's of London since February 1, 2019. Mr. Benchimol has been the Chief Executive Officer and President of Axis Capital Holdings Limited since May 3, 2012. Mr. Benchimol served as the Chief Financial Officer at PartnerRe Ltd. He is responsible for all aspects of PartnerRe’s global financial operations which includes investment and asset management, financial reporting and control, treasury, tax planning and capital management. Mr. Benchimol served as the Chief Financial Officer at Axis Capital Holdings Limited from January 17, 2011 to June 2012 and also served as its Executive Vice President from January 2011 to May 3, 2012. He takes care of investor and rating agency relations. He served as the Chief Financial Officer and Executive Vice President of PartnerRe Ltd. from April 1, 2000 to December 31, 2010 and served as Principal Accounting Officer. He served as Chief Executive Officer of Capital Markets of PartnerRe Ltd. from June 2007 to December 31, 2010. Mr. Benchimol is employed at PartnerRe Asset Management Corporation. He was working at Reliance Group Holdings Inc. from 1989 to 2000. He served as the Senior Vice President and Treasurer from 1998 to 2000 and as a Vice President and Treasurer from 1994 to 1998. From 1989 to 1994, he served as a Vice President and Assistant Treasurer. Prior to that, Mr. Benchimol was employed at Bank of Montreal from 1982 to 1989. Mr. Benchimol has been a Director of Axis Capital Holdings Limited since January 1, 2012. He served as a Director of PARIS RE Holdings Ltd. since October 2009. He received a Bachelor of Science degree in Physiology and Immunology from McGill University in Montreal, and earned a Master’s in Business Administration at the same university.

CEO Compensation
  • Albert's compensation has increased in line with AXIS Capital Holdings recently becoming profitable.
  • Albert's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the AXIS Capital Holdings management team in years:

1.5
Average Tenure
55
Average Age
  • The average tenure for the AXIS Capital Holdings management team is less than 2 years, this suggests a new team.
Management Team

Albert Benchimol

TITLE
CEO, President & Director
COMPENSATION
$8M
AGE
61
TENURE
7.2 yrs

Pete Vogt

TITLE
CFO & Executive VP
COMPENSATION
$2M
AGE
55
TENURE
1.5 yrs

David Phillips

TITLE
Chief Investment Officer
COMPENSATION
$3M
AGE
50
TENURE
5.3 yrs

Pete Wilson

TITLE
Chief Executive Officer of AXIS Insurance
COMPENSATION
$3M
AGE
59
TENURE
5.3 yrs

Steve Arora

TITLE
Chief Executive Officer of AXIS Reinsurance
COMPENSATION
$6M
AGE
43
TENURE
1.5 yrs

Richard Strachan

TITLE
Chief Operations Officer
AGE
51
TENURE
4.5 yrs

Kent Ziegler

TITLE
Global Corporate Controller & Principal Accounting Officer
AGE
56
TENURE
0.8 yrs

Dan Trueman

TITLE
Global Head of Cyber & Technology

Keith Schlosser

TITLE
Chief Information Officer
TENURE
0.5 yrs

Matt Rohrmann

TITLE
Head of Investor Relations
TENURE
1.2 yrs
Board of Directors Tenure

Average tenure and age of the AXIS Capital Holdings board of directors in years:

11.4
Average Tenure
74.5
Average Age
  • The average tenure for the AXIS Capital Holdings board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Michael Butt

TITLE
Chairman of the Board
COMPENSATION
$865K
AGE
76
TENURE
16.8 yrs

Albert Benchimol

TITLE
CEO, President & Director
COMPENSATION
$8M
AGE
61
TENURE
7.5 yrs

Maurice Keane

TITLE
Independent Director
COMPENSATION
$285K
AGE
77
TENURE
16.8 yrs

Henry Smith

TITLE
Lead Independent Director
COMPENSATION
$367K
AGE
70
TENURE
7.2 yrs

Chris Greetham

TITLE
Independent Director
COMPENSATION
$317K
AGE
74
TENURE
12.8 yrs

Thomas Ramey

TITLE
Independent Director
COMPENSATION
$263K
AGE
75
TENURE
10 yrs

Chuck Davis

TITLE
Independent Director
COMPENSATION
$230K
AGE
71
TENURE
17.7 yrs

Bob Friedman

TITLE
Independent Director
COMPENSATION
$220K
AGE
76
TENURE
17.7 yrs

Wilhelm Zeller

TITLE
Independent Director
COMPENSATION
$220K
AGE
75
TENURE
10 yrs

Barbara Yastine

TITLE
Independent Director
COMPENSATION
$105K
AGE
60
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess AXIS Capital Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AXIS Capital Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

AXIS Capital Holdings (NYSE:AXS) Shareholders Have Enjoyed A 35% Share Price Gain

But AXIS Capital Holdings Limited (NYSE:AXS) has fallen short of that second goal, with a share price rise of 35% over five years, which is below the market return. … We note that for AXIS Capital Holdings the TSR over the last 5 years was 53%, which is better than the share price return mentioned above. … You could get a better understanding of AXIS Capital Holdings's growth by checking out this more detailed historical graph of earnings, revenue and cash flow.

Simply Wall St -

Is AXIS Capital Holdings (NYSE:AXS) Using Too Much Debt?

Debt assists a business until the business has trouble paying it off, either with new capital or with free cash flow. … Either way, since AXIS Capital Holdings does have more debt than cash, it's worth keeping an eye on its balance sheet. … Looking at the most recent year, AXIS Capital Holdings recorded free cash flow of 33% of its EBIT, which is weaker than we'd expect.

Simply Wall St -

These 4 Measures Indicate That AXIS Capital Holdings (NYSE:AXS) Is Using Debt Extensively

We note that AXIS Capital Holdings Limited (NYSE:AXS) does have debt on its balance sheet. … NYSE:AXS Historical Debt, June 21st 2019 How Healthy Is AXIS Capital Holdings's Balance Sheet? … Either way, since AXIS Capital Holdings does have more debt than cash, it's worth keeping an eye on its balance sheet.

Simply Wall St -

Investors In AXIS Capital Holdings Limited (NYSE:AXS) Should Consider This, First

Dividend paying stocks like AXIS Capital Holdings Limited (NYSE:AXS) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. … While AXIS Capital Holdings's 2.6% dividend yield is not the highest, we think its lengthy payment history is quite interesting. … AXIS Capital Holdings has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments.

Simply Wall St -

AXIS Capital Holdings Limited (NYSE:AXS) Delivered A Weaker ROE Than Its Industry

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for AXIS Capital Holdings: 1.5% = US$36m ÷ US$5.3b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does AXIS Capital Holdings Have A Good Return On Equity? … AXIS Capital Holdings's Debt And Its 1.5% ROE Although AXIS Capital Holdings does use debt, its debt to equity ratio of 0.25 is still low.

Simply Wall St -

Does AXIS Capital Holdings Limited's (NYSE:AXS) CEO Salary Reflect Performance?

According to our data, AXIS Capital Holdings Limited has a market capitalization of US$4.9b, and pays its CEO total annual compensation worth US$7.8m. … AXIS Capital Holdings Limited has served shareholders reasonably well, with a total return of 15% over three years. … If you think CEO compensation levels are interesting you will probably really like this free visualization of insider trading at AXIS Capital Holdings.

Simply Wall St -

Should You Worry About AXIS Capital Holdings Limited's (NYSE:AXS) CEO Pay?

Our data indicates that AXIS Capital Holdings Limited is worth US$4.6b, and total annual CEO compensation is US$7m. … We examined companies with market caps from US$2.0b to US$6.4b, and discovered that the median CEO compensation of that group was US$5m. … Thus we can conclude that Albert Benchimol receives more in total compensation than the median of a group of companies in the same market, and of similar size to AXIS Capital Holdings Limited

Simply Wall St -

Only 1 Days Left To AXIS Capital Holdings Limited (NYSE:AXS)’s Ex-Dividend Date, Is It Worth Buying?

If you are interested in cashing in on AXIS Capital Holdings Limited's (NYSE:AXS) upcoming dividend of US$0.39 per share, you only have 1 days left to buy the shares before its ex-dividend date, 28 June 2018, in time for dividends payable on the 16 July 2018. … Is this future income a persuasive enough catalyst for investors to think about AXIS Capital Holdings as an investment today? … See our latest analysis for AXIS Capital Holdings

Simply Wall St -

One Thing To Consider Before Buying AXIS Capital Holdings Limited (NYSE:AXS)

Generally, an investor should consider two types of risk that impact the market value of AXS. … See our latest analysis for AXIS Capital Holdings An interpretation of AXS's beta AXIS Capital Holdings's beta of 0.34 indicates that the stock value will be less variable compared to the whole stock market. … AXS's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns.

Simply Wall St -

Should AXIS Capital Holdings Limited (NYSE:AXS) Be Part Of Your Dividend Portfolio?

Check out our latest analysis for AXIS Capital Holdings 5 checks you should use to assess a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is it the top 25% annual dividend yield payer? … NYSE:AXS Historical Dividend Yield May 25th 18 How does AXIS Capital Holdings fare? … Relative to peers, AXIS Capital Holdings has a yield of 2.72%, which is on the low-side for Insurance stocks.Next Steps: Considering the dividend attributes we analyzed above, AXIS Capital Holdings is definitely worth keeping an eye on for someone looking to build a dedicated income portfolio.

Simply Wall St -

Company Info

Description

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, hull, and war; and terrorism, aviation, credit and political risk, and liability insurance products. It also provides professional insurance products that cover directors’ and officers’ liability, errors and omissions liability, employment practices liability, fiduciary liability, crime, professional indemnity, cyber and privacy, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers. In addition, this segment offers accidental death, travel, and specialty health products for employer and affinity groups, as well as accident and health reinsurance products through wholesale and retail brokers, managing general agents, and underwriters. The Reinsurance segment offers reinsurance products to insurance companies, including catastrophe reinsurance products; property reinsurance products covering property damage and related losses resulting from natural and man-made perils; professional lines; and credit and surety products. This segment also provides agriculture reinsurance products; coverages for various types of construction risks and risks related to erection, testing, and commissioning of machinery and plants during the construction stage; and marine, aviation, and personal accident reinsurance products. The company was founded in 2001 and is headquartered in Pembroke, Bermuda.

Details
Name: AXIS Capital Holdings Limited
AXS
Exchange: NYSE
Founded: 2001
$5,028,554,716
83,935,148
Website: http://www.axiscapital.com
Address: AXIS Capital Holdings Limited
AXIS House,
92 Pitts Bay Road,
Pembroke,
HM 08,
Bermuda
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE AXS Common Shares New York Stock Exchange US USD 01. Jul 2003
DB AXV Common Shares Deutsche Boerse AG DE EUR 01. Jul 2003
NYSE AXS.PRE DEP SHS PFD E New York Stock Exchange US USD 01. Nov 2016
NYSE AXS.PRD PFD SER D 5.50% New York Stock Exchange US USD 15. May 2013
Number of employees
Current staff
Staff numbers
1,567
AXIS Capital Holdings employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 02:46
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.