Company Valuation: AXA SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 62,576 62,187 64,437 72,930 83,440 84,770 - -
Change - -0.62% 3.62% 13.18% 14.41% 1.59% - -
Enterprise Value (EV) 1 59,292 94,301 96,039 113,315 118,464 100,370 100,370 100,370
Change - 59.04% 1.84% 17.99% 4.54% -15.27% 0% 0%
P/E 8.82x 9.21x 9.42x 9.81x 9.04x 10.3x 9.41x 8.72x
PBR 0.96x 1.49x 1.3x 1.4x 1.71x 1.78x 1.69x 1.64x
PEG - -1.95x 0.9x 0.8x 0.3x -1.15x 0.98x 1.1x
Capitalization / Revenue 0.63x 0.61x 0.77x 0.84x 0.92x 0.74x 0.71x 0.67x
EV / Revenue 0.59x 0.92x 1.15x 1.3x 1.3x 0.88x 0.84x 0.8x
EV / EBITDA - - - - - - - -
EV / EBIT 6.23x 10.1x 10.4x 10.9x 11.4x 8.71x 8.1x 7.64x
EV / FCF 9.6x 12.5x 16x 9.45x 5.4x 14.7x 14x 11.3x
FCF Yield 10.4% 7.98% 6.26% 10.6% 18.5% 6.78% 7.15% 8.87%
Dividend per Share 2 1.54 1.7 1.98 2.15 2.32 2.511 2.701 2.901
Rate of return 5.88% 6.52% 6.71% 6.26% 5.66% 5.9% 6.35% 6.82%
EPS 2 2.97 2.83 3.13 3.5 4.53 4.123 4.519 4.879
Distribution rate 51.9% 60.1% 63.3% 61.4% 51.2% 60.9% 59.8% 59.5%
Net sales 1 99,931 102,345 83,627 87,303 91,139 113,822 119,730 125,774
EBITDA - - - - - - - -
EBIT 1 9,514 9,329 9,218 10,412 10,368 11,522 12,385 13,132
Net income 1 7,294 6,675 7,189 7,886 9,797 8,408 8,970 9,468
Net Debt 1 -3,284 32,114 31,602 40,385 35,024 15,600 15,600 15,600
Reference price 2 26.18 26.06 29.49 34.32 40.96 42.54 42.54 42.54
Nbr of stocks (in thousands) 2,389,774 2,386,757 2,185,051 2,124,998 2,037,115 2,023,161 - -
Announcement Date 24/02/22 23/02/23 22/02/24 27/02/25 26/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
4.18x1.43x - 4.02% 141B
6.36x4.84x - 5.41% 135B
10.32x0.89x - 5.9% 97.73B
12.39x - - 2.9% 96.64B
13.49x1.02x1.04x4.31% 73.4B
14.74x - - 3.2% 70.87B
13.78x - - 3.71% 66.37B
12.28x - - 2.49% 59.84B
17.06x - - 2.99% 56.67B
Average 11.62x 2.05x 1.04x 3.88% 88.54B
Weighted average by Cap. 10.42x 2.28x 1.04x 4.09%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield