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 90,309 - -
Change - -0.62% 3.62% 13.18% 14.41% 8.23% - -
Enterprise Value (EV) 1 59,292 94,301 96,039 1,13,315 1,18,464 1,05,909 1,05,909 1,05,909
Change - 59.04% 1.84% 17.99% 4.54% -10.6% 0% 0%
P/E 8.82x 9.21x 9.42x 9.81x 9.04x 10.8x 9.85x 9.17x
PBR 0.96x 1.49x 1.3x 1.4x 1.71x 1.87x 1.77x 1.72x
PEG - -1.95x 0.9x 0.8x 0.3x -1.24x 1.02x 1.24x
Capitalization / Revenue 0.63x 0.61x 0.77x 0.84x 0.92x 0.79x 0.76x 0.72x
EV / Revenue 0.59x 0.92x 1.15x 1.3x 1.3x 0.93x 0.89x 0.85x
EV / EBITDA - - - - - - - -
EV / EBIT 6.23x 10.1x 10.4x 10.9x 11.4x 9.15x 8.44x 8.01x
EV / FCF 9.6x 12.5x 16x 9.45x 5.4x 15.6x 14.8x 11.9x
FCF Yield 10.4% 7.98% 6.26% 10.6% 18.5% 6.43% 6.78% 8.4%
Dividend per Share 2 1.54 1.7 1.98 2.15 2.32 2.502 2.715 2.935
Rate of return 5.88% 6.52% 6.71% 6.26% 5.66% 5.6% 6.08% 6.57%
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% 60.5% 59.9% 60.3%
Net sales 1 99,931 1,02,345 83,627 87,303 91,139 1,13,822 1,19,231 1,24,784
EBITDA - - - - - - - -
EBIT 1 9,514 9,329 9,218 10,412 10,368 11,576 12,541 13,217
Net income 1 7,294 6,675 7,189 7,886 9,797 8,374 9,000 9,518
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 44.64 44.64 44.64
Nbr of stocks (in thousands) 23,89,774 23,86,757 21,85,051 21,24,998 20,37,115 20,23,058 - -
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
6.92x4.97x - 4.97% 15TCr
10.68x0.92x - 5.66% 10TCr
13.17x - - 2.75% 10TCr
14.21x1.06x1.07x4.06% 7.86TCr
14.74x - - 3.15% 7.39TCr
12.96x - - 2.36% 6.31TCr
17.35x - - 2.94% 5.94TCr
16.69x3.15x - 2.07% 5.93TCr
12.28x - - 4.48% 5.2TCr
Average 13.22x 2.52x 1.07x 3.6% 8.2TCr
Weighted average by Cap. 12.39x 2.82x 1.07x 3.83%

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