AXA SA (CS.PA)
FR0000120628 - Common Stock
We assign a fundamental rating of 5 out of 10 to CS. CS was compared to 35 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 correct valuation and a medium growth rate. CS also has an excellent dividend rating. With these ratings, CS could be worth investigating further for dividend investing!.
1. Profitability
1.1 Basic Checks
In the past year CS was profitable.
CS had a positive operating cash flow in the past year.
Each year in the past 5 years CS has been profitable.
In the past 5 years CS always reported a positive cash flow from operatings.
1.2 Ratios
CS has a better Return On Assets (0.98%) than 61.76% of its industry peers.
CS has a Return On Equity (13.54%) which is comparable to the rest of the industry.
CS has a Return On Invested Capital of 1.26%. This is in the better half of the industry: CS outperforms 61.76% of its industry peers.
CS had an Average Return On Invested Capital over the past 3 years of 1.04%. This is in line with the industry average of 2.11%.
The last Return On Invested Capital (1.26%) for CS is above the 3 year average (1.04%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.98% | ||
| ROE | 13.54% | ||
| ROIC | 1.26% |
ROA(3y)0.77%
ROA(5y)0.59%
ROE(3y)9.42%
ROE(5y)7.28%
ROIC(3y)1.04%
ROIC(5y)0.93%
1.3 Margins
CS has a Profit Margin (6.30%) which is in line with its industry peers.
CS's Profit Margin has improved in the last couple of years.
CS has a worse Operating Margin (9.94%) than 64.71% of its industry peers.
In the last couple of years the Operating Margin of CS has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 9.94% | ||
| PM | 6.3% | ||
| GM | N/A |
OM growth 3Y28.32%
OM growth 5Y11.13%
PM growth 3Y31.81%
PM growth 5Y6.53%
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
CS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, CS has less shares outstanding
CS has less shares outstanding than it did 5 years ago.
The debt/assets ratio for CS is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.33, we must say that CS is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of CS (0.33) is better than 94.12% of its industry peers.
CS has a debt to FCF ratio of 3.04. This is a good value and a sign of high solvency as CS would need 3.04 years to pay back of all of its debts.
CS has a Debt to FCF ratio of 3.04. This is in the better half of the industry: CS outperforms 73.53% of its industry peers.
A Debt/Equity ratio of 0.55 indicates that CS is somewhat dependend on debt financing.
CS has a Debt to Equity ratio of 0.55. This is comparable to the rest of the industry: CS outperforms 55.88% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 3.04 | ||
| Altman-Z | 0.33 |
ROIC/WACC0.2
WACC8.61%
2.3 Liquidity
CS has a Current Ratio of 0.90. 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 0.90, CS belongs to the top of the industry, outperforming 88.24% of the companies in the same industry.
CS has a Quick Ratio of 0.90. This is a bad value and indicates that CS is not financially healthy enough and could expect problems in meeting its short term obligations.
CS has a better Quick ratio (0.90) than 88.24% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.9 | ||
| Quick Ratio | 0.9 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an nice 10.27% over the past year.
Measured over the past 5 years, CS shows a small growth in Earnings Per Share. The EPS has been growing by 4.77% on average per year.
The Revenue has decreased by -9.38% in the past year.
The Revenue has been decreasing by -4.57% on average over the past years.
EPS 1Y10.27%
EPS 3Y22.99%
EPS 5Y4.77%
EPS growth Q2Q8.48%
Revenue growth 1Y-9.38%
Revenue growth 3Y-7.69%
Revenue growth 5Y-4.57%
Revenue growth Q2Q-13.74%
3.2 Future
CS is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.40% yearly.
CS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.50% yearly.
EPS Next Y13.9%
EPS Next 2Y10.53%
EPS Next 3Y9.38%
EPS Next 5Y7.4%
Revenue Next Year3.51%
Revenue Next 2Y2.24%
Revenue Next 3Y2.5%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 8.79 indicates a reasonable valuation of CS.
CS's Price/Earnings is on the same level as the industry average.
Compared to an average S&P500 Price/Earnings ratio of 25.55, CS is valued rather cheaply.
With a Price/Forward Earnings ratio of 7.52, the valuation of CS can be described as very cheap.
CS's Price/Forward Earnings ratio is in line with the industry average.
CS is valuated cheaply when we compare the Price/Forward Earnings ratio to 18.74, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.79 | ||
| Fwd PE | 7.52 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, CS is valued a bit cheaper than 67.65% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.41 | ||
| EV/EBITDA | N/A |
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.
CS has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)0.63
PEG (5Y)1.84
EPS Next 2Y10.53%
EPS Next 3Y9.38%
5. Dividend
5.1 Amount
CS has a Yearly Dividend Yield of 5.83%, which is a nice return.
Compared to an average industry Dividend Yield of 5.53, CS pays a bit more dividend than its industry peers.
CS's Dividend Yield is rather good when compared to the S&P500 average which is at 2.64.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.83% |
5.2 History
The dividend of CS has a limited annual growth rate of 4.28%.
Dividend Growth(5Y)4.28%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
CS pays out 60.45% of its income as dividend. This is not a sustainable payout ratio.
The dividend of CS is growing, but earnings are growing more, so the dividend growth is sustainable.
DP60.45%
EPS Next 2Y10.53%
EPS Next 3Y9.38%
AXA SA
EPA:CS (9/27/2023, 5:35:15 PM)
28.295
-0.35 (-1.22%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)N/A N/A
Earnings (Next)N/A N/A
Inst OwnersN/A
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap61.81B
Analysts84.83
Price Target34.27 (21.12%)
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.83% |
Dividend Growth(5Y)4.28%
DP60.45%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.75%
Min EPS beat(2)0.75%
Max EPS beat(2)0.75%
EPS beat(4)1
Avg EPS beat(4)-2.08%
Min EPS beat(4)-4.91%
Max EPS beat(4)0.75%
Revenue beat(2)1
Avg Revenue beat(2)70878.7%
Min Revenue beat(2)70878.7%
Max Revenue beat(2)70878.7%
Revenue beat(4)2
Avg Revenue beat(4)90516.1%
Min Revenue beat(4)70878.7%
Max Revenue beat(4)110153%
PT rev (1m)0.75%
PT rev (3m)0.64%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)1.32%
EPS NY rev (3m)-0.2%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.35%
Revenue NY rev (3m)-1.57%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 8.79 | ||
| Fwd PE | 7.52 | ||
| P/S | 0.63 | ||
| P/FCF | 7.41 | ||
| P/OCF | 7.09 | ||
| P/B | 1.35 | ||
| P/tB | 2.58 | ||
| EV/EBITDA | N/A |
EPS(TTM)3.22
EY11.38%
EPS(NY)3.76
Fwd EY13.3%
FCF(TTM)3.82
FCFY13.5%
OCF(TTM)3.99
OCFY14.11%
SpS45.18
BVpS21.02
TBVpS10.98
PEG (NY)0.63
PEG (5Y)1.84
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 0.98% | ||
| ROE | 13.54% | ||
| ROCE | 1.57% | ||
| ROIC | 1.26% | ||
| ROICexc | 1.32% | ||
| ROICexgc | 1.72% | ||
| OM | 9.94% | ||
| PM | 6.3% | ||
| GM | N/A | ||
| FCFM | 8.46% |
ROA(3y)0.77%
ROA(5y)0.59%
ROE(3y)9.42%
ROE(5y)7.28%
ROIC(3y)1.04%
ROIC(5y)0.93%
ROICexc(3y)1.08%
ROICexc(5y)0.97%
ROICexgc(3y)1.37%
ROICexgc(5y)1.22%
ROCE(3y)1.3%
ROCE(5y)1.17%
ROICexcg growth 3Y31.35%
ROICexcg growth 5Y12.05%
ROICexc growth 3Y27.4%
ROICexc growth 5Y12.72%
OM growth 3Y28.32%
OM growth 5Y11.13%
PM growth 3Y31.81%
PM growth 5Y6.53%
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.16
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 3.04 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | 0.38% | ||
| Profit Quality | 134.25% | ||
| Current Ratio | 0.9 | ||
| Quick Ratio | 0.9 | ||
| Altman-Z | 0.33 |
F-Score5
WACC8.61%
ROIC/WACC0.2
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)0.32%
Cap/Sales(5y)0.35%
Profit Quality(3y)329.38%
Profit Quality(5y)315.44%
Growth
EPS 1Y10.27%
EPS 3Y22.99%
EPS 5Y4.77%
EPS growth Q2Q8.48%
EPS Next Y13.9%
EPS Next 2Y10.53%
EPS Next 3Y9.38%
EPS Next 5Y7.4%
Revenue growth 1Y-9.38%
Revenue growth 3Y-7.69%
Revenue growth 5Y-4.57%
Revenue growth Q2Q-13.74%
Revenue Next Year3.51%
Revenue Next 2Y2.24%
Revenue Next 3Y2.5%
Revenue Next 5YN/A
EBIT growth 1Y-12.34%
EBIT growth 3Y18.45%
EBIT growth 5Y6.05%
EBIT Next Year18.36%
EBIT Next 3Y8.4%
EBIT Next 5YN/A
FCF growth 1Y-42.27%
FCF growth 3Y-1.94%
FCF growth 5Y-15.28%
OCF growth 1Y-41.41%
OCF growth 3Y-2.3%
OCF growth 5Y-14.86%