AXA SA (CS.PA) Stock Fundamental Analysis

EPA:CS • FR0000120628

37.92 EUR
+0.13 (+0.34%)
Last: Feb 12, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

CS gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 43 industry peers in the Insurance industry. Both the profitability and the financial health of CS get a neutral evaluation. Nothing too spectacular is happening here. CS has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • CS had positive earnings in the past year.
  • CS had a positive operating cash flow in the past year.
  • In the past 5 years CS has always been profitable.
  • Each year in the past 5 years CS had a positive operating cash flow.
CS.PA Yearly Net Income VS EBIT VS OCF VS FCFCS.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

1.2 Ratios

  • The Return On Assets of CS (1.18%) is worse than 60.47% of its industry peers.
  • CS has a Return On Equity (16.72%) which is comparable to the rest of the industry.
  • CS has a Return On Invested Capital of 1.28%. This is comparable to the rest of the industry: CS outperforms 53.49% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for CS is in line with the industry average of 2.92%.
Industry RankSector Rank
ROA 1.18%
ROE 16.72%
ROIC 1.28%
ROA(3y)1.09%
ROA(5y)0.91%
ROE(3y)14.54%
ROE(5y)11.55%
ROIC(3y)1.29%
ROIC(5y)1.11%
CS.PA Yearly ROA, ROE, ROICCS.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

1.3 Margins

  • CS has a Profit Margin (8.52%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of CS has grown nicely.
  • CS has a Operating Margin (11.47%) which is comparable to the rest of the industry.
  • CS's Operating Margin has improved in the last couple of years.
Industry RankSector Rank
OM 11.47%
PM (TTM) 8.52%
GM N/A
OM growth 3Y15.12%
OM growth 5Y20.23%
PM growth 3Y14.87%
PM growth 5Y26.69%
GM growth 3YN/A
GM growth 5YN/A
CS.PA Yearly Profit, Operating, Gross MarginsCS.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so CS is destroying value.
  • The number of shares outstanding for CS has been reduced compared to 1 year ago.
  • Compared to 5 years ago, CS has less shares outstanding
  • The debt/assets ratio for CS is higher compared to a year ago.
CS.PA Yearly Shares OutstandingCS.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
CS.PA Yearly Total Debt VS Total AssetsCS.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B 800B

2.2 Solvency

  • Based on the Altman-Z score of 0.34, we must say that CS is in the distress zone and has some risk of bankruptcy.
  • CS's Altman-Z score of 0.34 is amongst the best of the industry. CS outperforms 88.37% of its industry peers.
  • The Debt to FCF ratio of CS is 1.41, which is an excellent value as it means it would take CS, only 1.41 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of CS (1.41) is better than 69.77% of its industry peers.
  • A Debt/Equity ratio of 0.65 indicates that CS is somewhat dependend on debt financing.
  • With a Debt to Equity ratio value of 0.65, CS perfoms like the industry average, outperforming 44.19% of the companies in the same industry.
  • Although CS does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 1.41
Altman-Z 0.34
ROIC/WACC0.12
WACC10.96%
CS.PA Yearly LT Debt VS Equity VS FCFCS.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

2.3 Liquidity

  • CS has a Current Ratio of 0.82. This is a bad value and indicates that CS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.82, CS belongs to the top of the industry, outperforming 81.40% of the companies in the same industry.
  • A Quick Ratio of 0.82 indicates that CS may have some problems paying its short term obligations.
  • With an excellent Quick ratio value of 0.82, CS belongs to the best of the industry, outperforming 81.40% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 0.82
Quick Ratio 0.82
CS.PA Yearly Current Assets VS Current LiabilitesCS.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an nice 8.70% over the past year.
  • Measured over the past years, CS shows a quite strong growth in Earnings Per Share. The EPS has been growing by 18.09% on average per year.
  • CS shows a small growth in Revenue. In the last year, the Revenue has grown by 4.40%.
  • The Revenue has been decreasing by -8.16% on average over the past years.
EPS 1Y (TTM)8.7%
EPS 3Y9.29%
EPS 5Y18.09%
EPS Q2Q%8.56%
Revenue 1Y (TTM)4.4%
Revenue growth 3Y-10.62%
Revenue growth 5Y-8.16%
Sales Q2Q%3.72%

3.2 Future

  • Based on estimates for the next years, CS will show a small growth in Earnings Per Share. The EPS will grow by 6.61% on average per year.
  • The Revenue is expected to grow by 8.21% on average over the next years. This is quite good.
EPS Next Y12.2%
EPS Next 2Y9.08%
EPS Next 3Y8.44%
EPS Next 5Y6.61%
Revenue Next Year9.09%
Revenue Next 2Y6.99%
Revenue Next 3Y6.85%
Revenue Next 5Y8.21%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
CS.PA Yearly Revenue VS EstimatesCS.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 20B 40B 60B 80B 100B
CS.PA Yearly EPS VS EstimatesCS.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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6

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 10.11, the valuation of CS can be described as very reasonable.
  • Based on the Price/Earnings ratio, CS is valued a bit cheaper than the industry average as 76.74% of the companies are valued more expensively.
  • Compared to an average S&P500 Price/Earnings ratio of 28.18, CS is valued rather cheaply.
  • A Price/Forward Earnings ratio of 8.88 indicates a reasonable valuation of CS.
  • Based on the Price/Forward Earnings ratio, CS is valued a bit cheaper than 74.42% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 28.01. CS is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 10.11
Fwd PE 8.88
CS.PA Price Earnings VS Forward Price EarningsCS.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • CS's Price/Free Cash Flow ratio is rather cheap when compared to the industry. CS is cheaper than 83.72% of the companies in the same industry.
Industry RankSector Rank
P/FCF 3.85
EV/EBITDA N/A
CS.PA Per share dataCS.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.83
PEG (5Y)0.56
EPS Next 2Y9.08%
EPS Next 3Y8.44%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 5.45%, CS is a good candidate for dividend investing.
  • CS's Dividend Yield is a higher than the industry average which is at 4.23.
  • CS's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
Industry RankSector Rank
Dividend Yield 5.45%

5.2 History

  • The dividend of CS is nicely growing with an annual growth rate of 8.12%!
Dividend Growth(5Y)8.12%
Div Incr Years4
Div Non Decr Years4
CS.PA Yearly Dividends per shareCS.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2 2.5

5.3 Sustainability

  • CS pays out 61.79% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of CS is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP61.79%
EPS Next 2Y9.08%
EPS Next 3Y8.44%
CS.PA Yearly Income VS Free CF VS DividendCS.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B
CS.PA Dividend Payout.CS.PA Dividend Payout, showing the Payout Ratio.CS.PA Dividend Payout.PayoutRetained Earnings

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AXA SA

EPA:CS (2/12/2026, 5:36:15 PM)

37.92

+0.13 (+0.34%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)N/A
Earnings (Next)02-26
Inst Owners40.46%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap80.53B
Revenue(TTM)89.27B
Net Income(TTM)7.61B
Analysts82.96
Price Target45.77 (20.7%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.45%
Yearly Dividend2.02
Dividend Growth(5Y)8.12%
DP61.79%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.48%
PT rev (3m)0.68%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.24%
EPS NY rev (3m)0.02%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.11%
Valuation
Industry RankSector Rank
PE 10.11
Fwd PE 8.88
P/S 0.9
P/FCF 3.85
P/OCF 3.76
P/B 1.77
P/tB 3.34
EV/EBITDA N/A
EPS(TTM)3.75
EY9.89%
EPS(NY)4.27
Fwd EY11.26%
FCF(TTM)9.85
FCFY25.99%
OCF(TTM)10.08
OCFY26.57%
SpS42.04
BVpS21.42
TBVpS11.35
PEG (NY)0.83
PEG (5Y)0.56
Graham Number42.51
Profitability
Industry RankSector Rank
ROA 1.18%
ROE 16.72%
ROCE 1.62%
ROIC 1.28%
ROICexc 1.33%
ROICexgc 1.74%
OM 11.47%
PM (TTM) 8.52%
GM N/A
FCFM 23.44%
ROA(3y)1.09%
ROA(5y)0.91%
ROE(3y)14.54%
ROE(5y)11.55%
ROIC(3y)1.29%
ROIC(5y)1.11%
ROICexc(3y)1.34%
ROICexc(5y)1.16%
ROICexgc(3y)1.75%
ROICexgc(5y)1.48%
ROCE(3y)1.62%
ROCE(5y)1.41%
ROICexgc growth 3Y10.47%
ROICexgc growth 5Y16.55%
ROICexc growth 3Y8.69%
ROICexc growth 5Y14.36%
OM growth 3Y15.12%
OM growth 5Y20.23%
PM growth 3Y14.87%
PM growth 5Y26.69%
GM growth 3YN/A
GM growth 5YN/A
F-Score7
Asset Turnover0.14
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 1.41
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 0.53%
Interest Coverage 1.98
Cash Conversion N/A
Profit Quality 275.1%
Current Ratio 0.82
Quick Ratio 0.82
Altman-Z 0.34
F-Score7
WACC10.96%
ROIC/WACC0.12
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)0.46%
Cap/Sales(5y)0.4%
Profit Quality(3y)104.89%
Profit Quality(5y)238.88%
High Growth Momentum
Growth
EPS 1Y (TTM)8.7%
EPS 3Y9.29%
EPS 5Y18.09%
EPS Q2Q%8.56%
EPS Next Y12.2%
EPS Next 2Y9.08%
EPS Next 3Y8.44%
EPS Next 5Y6.61%
Revenue 1Y (TTM)4.4%
Revenue growth 3Y-10.62%
Revenue growth 5Y-8.16%
Sales Q2Q%3.72%
Revenue Next Year9.09%
Revenue Next 2Y6.99%
Revenue Next 3Y6.85%
Revenue Next 5Y8.21%
EBIT growth 1Y7.05%
EBIT growth 3Y2.9%
EBIT growth 5Y10.41%
EBIT Next Year25.92%
EBIT Next 3Y11.14%
EBIT Next 5YN/A
FCF growth 1Y150.74%
FCF growth 3Y7.74%
FCF growth 5Y9.94%
OCF growth 1Y145.39%
OCF growth 3Y7.85%
OCF growth 5Y9.48%

AXA SA / CS.PA FAQ

What is the ChartMill fundamental rating of AXA SA (CS.PA) stock?

ChartMill assigns a fundamental rating of 5 / 10 to CS.PA.


What is the valuation status of AXA SA (CS.PA) stock?

ChartMill assigns a valuation rating of 6 / 10 to AXA SA (CS.PA). This can be considered as Fairly Valued.


What is the profitability of CS stock?

AXA SA (CS.PA) has a profitability rating of 5 / 10.


Can you provide the PE and PB ratios for CS stock?

The Price/Earnings (PE) ratio for AXA SA (CS.PA) is 10.11 and the Price/Book (PB) ratio is 1.77.


What is the financial health of AXA SA (CS.PA) stock?

The financial health rating of AXA SA (CS.PA) is 5 / 10.