Company Valuation: AXA

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 87,380 - -
Change - -0.62% 3.62% 13.18% 14.41% 4.72% - -
Enterprise Value (EV) 1 59,292 94,301 96,039 113,315 118,464 102,980 102,980 102,980
Change - 59.04% 1.84% 17.99% 4.54% -13.07% 0% 0%
P/E 8.82x 9.21x 9.42x 9.81x 9.04x 10.4x 9.53x 8.87x
PBR 0.96x 1.49x 1.3x 1.4x 1.71x 1.81x 1.71x 1.66x
PEG - -1.95x 0.9x 0.8x 0.3x -1.19x 0.99x 1.2x
Capitalization / Revenue 0.63x 0.61x 0.77x 0.84x 0.92x 0.77x 0.73x 0.7x
EV / Revenue 0.59x 0.92x 1.15x 1.3x 1.3x 0.9x 0.86x 0.83x
EV / EBITDA - - - - - - - -
EV / EBIT 6.23x 10.1x 10.4x 10.9x 11.4x 8.9x 8.21x 7.79x
EV / FCF 9.6x 12.5x 16x 9.45x 5.4x 15.1x 14.3x 11.6x
FCF Yield 10.4% 7.98% 6.26% 10.6% 18.5% 6.61% 6.97% 8.64%
Dividend per Share 2 1.54 1.7 1.98 2.15 2.32 2.51 2.713 2.9
Rate of return 5.88% 6.52% 6.71% 6.26% 5.66% 5.81% 6.28% 6.71%
EPS 2 2.97 2.83 3.13 3.5 4.53 4.136 4.534 4.87
Distribution rate 51.9% 60.1% 63.3% 61.4% 51.2% 60.7% 59.8% 59.5%
Net sales 1 99,931 102,345 83,627 87,303 91,139 113,822 119,231 124,784
EBITDA - - - - - - - -
EBIT 1 9,514 9,329 9,218 10,412 10,368 11,573 12,536 13,214
Net income 1 7,294 6,675 7,189 7,886 9,797 8,421 9,000 9,443
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 43.19 43.19 43.19
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.($)
6.54x4.88x - 5.25% 138B
10.44x0.9x - 5.81% 101B
12.78x - - 2.84% 98.59B
14.33x1.06x1.07x4.03% 79.11B
14.66x - - 3.21% 72.1B
12.69x - - 2.41% 61.73B
17.58x - - 2.9% 59.78B
16.26x3.05x - 2.12% 57.79B
12.12x - - 4.56% 51.25B
Average 13.05x 2.48x 1.07x 3.68% 80.02B
Weighted average by Cap. 12.23x 2.73x 1.07x 3.92%

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

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