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 89,019 - -
Change - -0.62% 3.62% 13.18% 14.41% 6.69% - -
Enterprise Value (EV) 1 59,292 94,301 96,039 1,13,315 1,18,464 1,04,619 1,04,619 1,04,619
Change - 59.04% 1.84% 17.99% 4.54% -11.69% 0% 0%
P/E 8.82x 9.21x 9.42x 9.81x 9.04x 10.7x 9.74x 9.02x
PBR 0.96x 1.49x 1.3x 1.4x 1.71x 1.84x 1.75x 1.7x
PEG - -1.95x 0.9x 0.8x 0.3x -1.19x 1.02x 1.13x
Capitalization / Revenue 0.63x 0.61x 0.77x 0.84x 0.92x 0.78x 0.74x 0.71x
EV / Revenue 0.59x 0.92x 1.15x 1.3x 1.3x 0.92x 0.87x 0.83x
EV / EBITDA - - - - - - - -
EV / EBIT 6.23x 10.1x 10.4x 10.9x 11.4x 9.08x 8.45x 7.97x
EV / FCF 9.6x 12.5x 16x 9.45x 5.4x 15.4x 14.6x 11.8x
FCF Yield 10.4% 7.98% 6.26% 10.6% 18.5% 6.51% 6.86% 8.51%
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% 5.71% 6.14% 6.59%
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 1,02,345 83,627 87,303 91,139 1,13,822 1,19,730 1,25,774
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 44.00 44.00 44.00
Nbr of stocks (in thousands) 23,89,774 23,86,757 21,85,051 21,24,998 20,37,115 20,23,161 - -
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.($)
6.35x4.84x - 5.41% 13TCr
10.67x0.92x - 5.71% 10TCr
12.44x - - 2.89% 9.69TCr
13.85x1.04x1.05x4.21% 7.53TCr
15.1x - - 3.12% 7.29TCr
12.76x - - 2.4% 6.21TCr
17.72x - - 2.88% 5.91TCr
16.04x3.01x - 2.15% 5.7TCr
12.12x - - 4.56% 5.1TCr
Average 13.00x 2.45x 1.05x 3.7% 7.89TCr
Weighted average by Cap. 12.19x 2.70x 1.05x 3.95%

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