AXA SA (CS.PA) Fundamental Analysis & Valuation

EPA:CS • FR0000120628

37.48 EUR
-0.41 (-1.08%)
Last: Mar 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This CS.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

CS gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 47 industry peers in the Insurance industry. CS has an average financial health and profitability rating. CS has a valuation in line with the averages, but it does not seem to be growing. CS also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. CS.PA Profitability Analysis

1.1 Basic Checks

  • CS had positive earnings in the past year.
  • CS had a positive operating cash flow in the past year.
  • Of the past 5 years CS 4 years were profitable.
  • Of the past 5 years CS 4 years 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

  • Looking at the Return On Assets, with a value of 1.18%, CS is in line with its industry, outperforming 44.68% of the companies in the same industry.
  • The Return On Equity of CS (16.72%) is better than 63.83% of its industry peers.
  • CS's Return On Invested Capital of 1.28% is in line compared to the rest of the industry. CS outperforms 55.32% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for CS is below the industry average of 3.45%.
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

  • The Profit Margin of CS (8.52%) 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 in line with its industry peers.
  • 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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5

2. CS.PA Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), CS is destroying value.
  • There is no outstanding debt for CS. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
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

  • CS has an Altman-Z score of 0.34. This is a bad value and indicates that CS is not financially healthy and even has some risk of bankruptcy.
  • With an excellent Altman-Z score value of 0.34, CS belongs to the best of the industry, outperforming 82.98% of the companies in the same industry.
  • 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.
  • CS's Debt to FCF ratio of 1.41 is fine compared to the rest of the industry. CS outperforms 70.21% of its industry peers.
  • CS has a Debt/Equity ratio of 0.65. This is a neutral value indicating CS is somewhat dependend on debt financing.
  • CS has a Debt to Equity ratio (0.65) which is comparable to the rest of the industry.
  • Although CS's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. 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
WACC10.99%
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

  • A Current Ratio of 0.82 indicates that CS may have some problems paying its short term obligations.
  • With an excellent Current ratio value of 0.82, CS belongs to the best of the industry, outperforming 80.85% of the companies in the same industry.
  • CS has a Quick 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.
  • CS has a Quick ratio of 0.82. This is amongst the best in the industry. CS outperforms 80.85% of its industry peers.
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

3

3. CS.PA Growth Analysis

3.1 Past

  • CS shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.52%.
  • CS shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 17.68% yearly.
EPS 1Y (TTM)7.52%
EPS 3Y7.81%
EPS 5Y17.68%
EPS Q2Q%6.4%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%N/A

3.2 Future

  • The Earnings Per Share is expected to grow by 6.68% on average over the next years.
  • The Revenue is expected to grow by 8.16% on average over the next years. This is quite good.
EPS Next Y10.45%
EPS Next 2Y8.72%
EPS Next 3Y8.29%
EPS Next 5Y6.68%
Revenue Next Year0.15%
Revenue Next 2Y3.38%
Revenue Next 3Y2.31%
Revenue Next 5Y8.16%

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 decreasing.
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 2030 50B 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 2031 1 2 3 4 5

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6

4. CS.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 9.71 indicates a reasonable valuation of CS.
  • Based on the Price/Earnings ratio, CS is valued a bit cheaper than 76.60% of the companies in the same industry.
  • CS's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.46.
  • A Price/Forward Earnings ratio of 8.79 indicates a reasonable valuation of CS.
  • Based on the Price/Forward Earnings ratio, CS is valued a bit cheaper than 76.60% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of CS to the average of the S&P500 Index (24.65), we can say CS is valued rather cheaply.
Industry RankSector Rank
PE 9.71
Fwd PE 8.79
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 82.98% of the companies in the same industry.
Industry RankSector Rank
P/FCF 3.74
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)0.93
PEG (5Y)0.55
EPS Next 2Y8.72%
EPS Next 3Y8.29%

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

7

5. CS.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 6.10%, CS is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 4.21, CS pays a better dividend. On top of this CS pays more dividend than 87.23% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, CS pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.1%

5.2 History

  • On average, the dividend of CS grows each year by 8.12%, which is quite nice.
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 2026 0.5 1 1.5 2 2.5

5.3 Sustainability

  • 61.79% of the earnings are spent on dividend by CS. This is not a sustainable payout ratio.
  • CS's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP61.79%
EPS Next 2Y8.72%
EPS Next 3Y8.29%
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

More info and screens

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CS.PA Fundamentals: All Metrics, Ratios and Statistics

AXA SA

EPA:CS (3/9/2026, 7:00:00 PM)

37.48

-0.41 (-1.08%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupInsurance
GICS IndustryInsurance
Earnings (Last)02-26
Earnings (Next)07-30
Inst Owners38.26%
Inst Owner ChangeN/A
Ins Owners0.1%
Ins Owner ChangeN/A
Market Cap78.36B
Revenue(TTM)N/A
Net Income(TTM)7.61B
Analysts82.67
Price Target45.98 (22.68%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.1%
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)1.02%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.29%
EPS NY rev (3m)-0.08%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-3.17%
Revenue NY rev (3m)-3.17%
Valuation
Industry RankSector Rank
PE 9.71
Fwd PE 8.79
P/S 0.88
P/FCF 3.74
P/OCF 3.66
P/B 1.72
P/tB 3.25
EV/EBITDA N/A
EPS(TTM)3.86
EY10.3%
EPS(NY)4.26
Fwd EY11.38%
FCF(TTM)10.01
FCFY26.71%
OCF(TTM)10.24
OCFY27.31%
SpS42.7
BVpS21.76
TBVpS11.53
PEG (NY)0.93
PEG (5Y)0.55
Graham Number43.47
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
WACC10.99%
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)7.52%
EPS 3Y7.81%
EPS 5Y17.68%
EPS Q2Q%6.4%
EPS Next Y10.45%
EPS Next 2Y8.72%
EPS Next 3Y8.29%
EPS Next 5Y6.68%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%N/A
Revenue Next Year0.15%
Revenue Next 2Y3.38%
Revenue Next 3Y2.31%
Revenue Next 5Y8.16%
EBIT growth 1Y7.05%
EBIT growth 3Y2.9%
EBIT growth 5Y10.41%
EBIT Next Year26.98%
EBIT Next 3Y11.06%
EBIT Next 5Y9.48%
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 4 / 10.


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

The Price/Earnings (PE) ratio for AXA SA (CS.PA) is 9.71 and the Price/Book (PB) ratio is 1.72.


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

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