Financial Ratios AXA

Stocks

CS

FR0000120628

Life & Health Insurance

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08-19	INSIGHT-As Europe bakes, momentum grows for climate-resilient farming	RE
08-19	Fitch Maintains AXA's Ratings on Strong Business Profile, Stable Earnings	MT

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Published financial data: AXA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Premiums and Annuity Revenues	96.32B	99.29B	80.89B	86.08B	89.95B
Total Interest And Dividend Income	12.16B	12.2B	-2.16B	-3.74B	-825M
Gain (Loss) on Sale of Investments, Total (Rev)	10.58B	-10.72B	5.68B	7.69B	4.38B
Non-Insurance Activities Revenues	535M	237M	-	-	-
Other Revenues, Total	2.57B	2.69B	2.74B	1.22B	1.19B
Total Revenues	122B	104B	87.15B	91.26B	94.69B
Policy Benefits	88.43B	71.43B	73.96B	78.03B	80.96B
Policy Acquisition / Underwriting Costs, Total	13.05B	12.76B	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	41M	135M	-	-	-
Selling General & Admin Expenses, Total	10.39B	10.36B	-	-	-
Other Operating Expenses	461M	-348M	3.94B	2.78B	3.32B
Non-Insurance Activities Expenses	63M	13M	-	-	-
Total Operating Expenses	112B	94.36B	77.9B	80.81B	84.27B
Operating Income	9.73B	9.34B	9.26B	10.45B	10.42B
Interest Expense, Total	-462M	-477M	-609M	-607M	-627M
Income (Loss) on Equity Invest.	144M	-141M	277M	173M	257M
Other Non Operating Income (Expenses)	0	2M	1M	1M	1M
EBT, Excl. Unusual Items	9.42B	8.72B	8.92B	10.01B	10.05B
Impairment of Goodwill	-	-	-	-	-
Asset Writedown	-218M	7M	-1M	-	-
Other Unusual Items	-	-19M	-37M	-36M	-50M
EBT, Incl. Unusual Items	9.2B	8.71B	8.89B	9.98B	10B
Income Tax Expense	1.69B	1.86B	1.51B	2.46B	2.37B
Earnings From Continuing Operations	7.51B	6.86B	7.37B	7.52B	7.63B
Earnings Of Discontinued Operations	-	-	-	555M	2.35B
Net Income to Company	7.51B	6.86B	7.37B	8.07B	9.98B
Minority Interest	-214M	-180M	-184M	-188M	-184M
Net Income - (IS)	7.29B	6.68B	7.19B	7.89B	9.8B
Preferred Dividend and Other Adjustments	194M	182M	185M	201M	174M
Net Income to Common Incl Extra Items	7.1B	6.49B	7B	7.68B	9.62B
Net Income to Common Excl. Extra Items	7.1B	6.49B	7B	7.13B	7.27B
Per Share Items
Net EPS - Basic	2.98	2.84	3.14	3.51	4.54
Basic EPS - Continuing Operations	2.98	2.84	3.14	3.25	3.43
Basic Weighted Average Shares Outstanding	2.38B	2.29B	2.23B	2.19B	2.12B
Net EPS - Diluted	2.97	2.83	3.13	3.5	4.53
Diluted EPS - Continuing Operations	2.97	2.83	3.13	3.25	3.42
Diluted Weighted Average Shares Outstanding	2.39B	2.3B	2.24B	2.2B	2.12B
Normalized Basic EPS	2.38	2.3	2.42	2.77	2.88
Normalized Diluted EPS	2.37	2.29	2.41	2.76	2.87
Dividend Per Share	1.54	1.7	1.98	2.15	2.32
Payout Ratio	47.83	59.42	58.39	60.35	50.82
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	10.6B	10.21B	-	-	-
EBITA	9.98B	9.47B	9.37B	10.58B	10.5B
EBIT	9.73B	9.34B	9.26B	10.45B	10.42B
Effective Tax Rate - (Ratio)	18.36	21.3	17.03	24.64	23.67
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	1.39B	1.67B	1.26B	1.72B	1.59B
Deferred Domestic Taxes	-	-	-	-	-
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	301M	186M	255M	739M	776M
Normalized Net Income	5.67B	5.27B	5.39B	6.07B	6.1B
Non-Cash Pension Expense	30M	17M	91M	57M	51M
Supplemental Operating Expense Items
General and Administrative Expenses	10.39B	10.36B	-	-	-
Stock-Based Comp., Other (Total)	192M	180M	198M	244M	288M
Total Stock-Based Compensation	192M	180M	198M	244M	288M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Investment In Debt Securities	397B	302B	298B	316B	300B
Investment In Equity and Preferred Securities, Total	38.82B	32.18B	15.18B	15.72B	14.64B
Trading Asset Securities, Total	1M	4M	49.19B	48.86B	50.46B
Real Estate Owned	31.02B	31.73B	32.54B	32B	29.93B
Mortgage Loans	-	-	-	-	-
Total Other Investments	36.76B	39B	22.09B	27.31B	28.66B
Total investments	504B	405B	417B	439B	424B
Cash And Equivalents	25.05B	26.16B	24.97B	18.99B	22.25B
Reinsurance Recoverable - (IS)	41.12B	45.52B	25.21B	26.08B	23.93B
Other Receivables - (Insurance Template)	60.89B	64.26B	37.82B	35.11B	34.97B
Deferred Policy Acquisition Costs - (BS)	17.82B	26.3B	-	-	-
Separate Account Assets	86.32B	76.47B	82.75B	90.1B	97.22B
Net Property Plant And Equipment	2.44B	2.23B	2.1B	2.21B	2.15B
Goodwill	17.17B	17.75B	17.86B	18.14B	17.8B
Other Intangibles, Total	4.3B	4.29B	4.22B	4.02B	4.03B
Other Current Assets, Total	13.47B	21.36B	26.22B	13.41B	4.53B
Deferred Tax Assets Long-Term (Collected)	421M	4.15B	3.48B	3.36B	2.23B
Deferred Charges Long-Term	-	-	407M	406M	384M
Other Long-Term Assets, Total	2.51B	2.9B	2.49B	2.49B	2.15B
Total Assets	775B	697B	644B	654B	636B
Liabilities
Accrued Expenses, Total	93M	95M	84M	89M	122M
Insurance And Annuity Liabilities	356B	306B	457B	477B	470B
Unpaid Claims	104B	109B	-	-	-
Unearned Premiums	23.92B	24.68B	-	-	-
Reinsurance Payable - (BS)	16.47B	16.92B	8M	6M	7M
Current Portion of Long-Term Debt	29.54B	32.62B	34.48B	36.78B	39.15B
Short-Term Borrowings	1.18B	984M	994M	798M	2.08B
Long-Term Debt	30.47B	29.79B	24.07B	24.57B	24.45B
Long-Term Leases	-	-	-	-	-
Separate Account Liability	86.36B	76.72B	12.11B	12.57B	12.84B
Current Income Taxes Payable	924M	1.26B	1.28B	1.29B	1.61B
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	16.35B	19.95B	33.91B	20.4B	10.6B
Pension & Other Post Retirement Benefits	7.48B	4.57B	3.52B	3.25B	3.08B
Deferred Tax Liability Non-Current	5.33B	1.43B	1.74B	1.98B	2.11B
Other Non Current Liabilities	14.21B	17.16B	15.38B	14.38B	15.96B
Total Liabilities	693B	642B	584B	593B	582B
Common Stock, Total	5.54B	5.39B	22.13B	20.28B	15.32B
Additional Paid In Capital	21.8B	20.16B	-	-	-
Retained Earnings	24.7B	28.18B	33.14B	36.48B	41.41B
Treasury Stock	-1.63B	-2.15B	-	-	-
Comprehensive Income and Other	20.72B	-6.22B	-5.69B	-6.82B	-9.56B
Total Common Equity	71.14B	45.35B	49.58B	49.94B	47.17B
Minority Interest	11.84B	9.42B	10.41B	10.68B	5.99B
Total Equity	82.98B	54.78B	59.99B	60.62B	53.16B
Total Liabilities And Equity	775B	697B	644B	654B	636B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.36B	2.26B	2.23B	2.18B	2.06B
ECS Total Common Shares Outstanding	2.36B	2.26B	2.23B	2.18B	2.06B
Book Value / Share	30.2	20.03	22.27	22.96	22.95
Tangible Book Value	49.67B	23.31B	27.5B	27.78B	25.35B
Tangible Book Value Per Share	21.09	10.29	12.35	12.77	12.33
Total Debt	61.2B	63.39B	59.54B	62.14B	65.68B
Net Debt	36.15B	37.23B	34.57B	43.15B	43.43B
Debt Equivalent of Unfunded Proj. Benefit Obligation	5.48B	1.44B	655M	632M	159M
Minority Interest, Total (Incl. Fin. Div)	11.84B	9.42B	10.41B	10.68B	5.99B
Equity Method Investments, Total	2.6B	2.43B	1.94B	1.53B	1.48B
Account Code - Inventory Valuation	3	3	3	3	3
Full Time Employees	106K	92.7K	94.7K	108K	108K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	7.29B	6.68B	7.19B	7.89B	9.8B
Depreciation, Depletion & Amortization	624M	-293M	-674M	-693M	-821M
Amortization of Goodwill and Intangible Assets - (CF)	246M	130M	112M	131M	86M
Total Depreciation, Depletion & Amortization	870M	-163M	-562M	-562M	-735M
(Gain) Loss on Sale of Investments - (CF)	-10.64B	10.68B	3.34B	-7.48B	-6.53B
Total Asset Writedown	212M	-	-9.03B	-	-
(Income) Loss On Equity Investments - (CF)	-144M	152M	-277M	-173M	-257M
Change in Accounts Receivable	4.34B	956M	4.91B	14.87B	3.37B
Change in Other Net Operating Assets (Collected)	-1.81B	-1.58B	-1.14B	-95M	2.36B
Net Cash From Discontinued Operations	-	-	-	-589M	318M
Other Operating Activities	6.4B	-8.83B	2.01B	-1.98B	14.35B
Cash from Operations	6.53B	7.88B	6.44B	11.88B	22.67B
Capital Expenditure	-350M	-353M	-427M	-476M	-428M
Sale of Property, Plant, and Equipment	6M	33M	21M	17M	3M
Cash Acquisitions	24M	-34M	-809M	-53M	-725M
Divestitures	-1.11B	315M	-46M	194M	4.87B
Sale (Purchase) of Real Estate Properties (Collected)	-2.19B	-622M	28M	262M	-1.1B
Investment in Marketable and Equity Securities, Total	4.76B	9.18B	5.32B	-8.55B	-6.66B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-7.26B	-8.08B	-4.03B	-4.1B	-4.81B
Other Investing Activities, Total	-2.83B	36M	-1.66B	1.46B	-2.11B
Cash from Investing	-8.95B	470M	-1.6B	-11.25B	-10.95B
Long-Term Debt Issued, Total	1.02B	3.36B	1.75B	776M	1.75B
Total Debt Issued	1.02B	3.36B	1.75B	776M	1.75B
Long-Term Debt Repaid, Total	-116M	-1.54B	-1.94B	-	-
Total Debt Repaid	-116M	-1.54B	-1.94B	-	-
Issuance of Common Stock	279M	335M	362M	1.99B	2.18B
Repurchase of Common Stock	-1.31B	-3.99B	-2.15B	-4.74B	-7.32B
Common Dividends Paid	-3.49B	-3.97B	-4.2B	-4.76B	-4.98B
Common & Preferred Stock Dividends Paid	-3.49B	-3.97B	-4.2B	-4.76B	-4.98B
Other Financing Activities, Total	-720M	-329M	-599M	-598M	-618M
Cash from Financing	-4.33B	-6.12B	-6.78B	-7.34B	-8.99B
Foreign Exchange Rate Adjustments	202M	-430M	-151M	280M	130M
Miscellaneous Cash Flow Adjustments	3.41B	-489M	539M	-	-1M
Net Change in Cash	-3.14B	1.31B	-1.55B	-6.43B	2.86B
Supplemental Items
Cash Interest Paid	718M	329M	5.36B	5.96B	4.47B
Cash Income Tax Paid (Refund)	1.53B	1.34B	1.08B	1.82B	1.26B
Net Debt Issued / Repaid	906M	1.82B	-194M	776M	1.75B
Levered Free Cash Flow	6.4B	2.33B	3.04B	5B	11.44B
Unlevered Free Cash Flow	6.69B	2.63B	3.42B	5.38B	11.83B
Change In Net Working Capital	104M	2.87B	1.57B	353M	-6.19B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.77	0.79	0.9	1.01	1.01
Return on Total Capital	4.12	4.45	4.85	5.39	5.26
Return On Equity %	8.92	9.95	12.77	12.47	13.42
Return on Common Equity	9.95	11.15	14.64	14.33	14.98
Margin Analysis
Gross Profit Margin %	16.88	18.79	15.14	14.49	14.5
SG&A Margin	8.5	10	-	-	-
EBITDA Margin %	8.68	9.84	-	-	-
EBITA Margin %	8.17	9.13	10.75	11.59	11.09
EBIT Margin %	7.97	9	10.62	11.45	11
Income From Continuing Operations Margin %	6.15	6.61	8.46	8.24	8.06
Net Income Margin %	5.97	6.44	8.25	8.64	10.35
Net Avail. For Common Margin %	5.81	6.26	8.04	7.81	7.68
Normalized Net Income Margin	4.64	5.08	6.19	6.65	6.44
Levered Free Cash Flow Margin	5.24	2.25	3.49	5.48	12.08
Unlevered Free Cash Flow Margin	5.48	2.53	3.92	5.9	12.49
Asset Turnover
Asset Turnover	0.15	0.14	0.14	0.14	0.15
Fixed Assets Turnover	47.99	44.37	40.29	42.38	43.45
Receivables Turnover (Average Receivables)	5.13	5.17	10.5K	10.29K	-
Short Term Liquidity
Current Ratio	0.56	0.59	1.89	1.93	2.03
Quick Ratio	0.28	0.27	1.16	1.26	1.5
Operating Cash Flow to Current Liabilities	0.03	0.04	0.09	0.2	0.42
Days Sales Outstanding (Average Receivables)	71.09	70.57	0.03	0.04	-
Average Days Payable Outstanding	418.37	534.28	0.03	0.03	0.03
Long Term Solvency
Total Debt/Equity	73.75	115.73	99.25	102.5	123.56
Total Debt / Total Capital	42.45	53.65	49.81	50.62	55.27
LT Debt/Equity	36.72	54.39	40.12	40.52	45.99
Long-Term Debt / Total Capital	21.14	25.21	20.14	20.01	20.57
Total Liabilities / Total Assets	89.3	92.14	90.69	90.73	91.64
EBIT / Interest Expense	21.07	19.58	15.2	17.21	16.62
EBITDA / Interest Expense	22.95	21.4	-	-	-
(EBITDA - Capex) / Interest Expense	22.19	20.66	-	-	-
Total Debt / EBITDA	5.77	6.21	-	-	-
Net Debt / EBITDA	3.41	3.65	-	-	-
Total Debt / (EBITDA - Capex)	5.97	6.43	-	-	-
Net Debt / (EBITDA - Capex)	3.53	3.78	-	-	-
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.74	-15.12	0.41	6.46	3.77
Gross Profit, 1 Yr. Growth %	28.72	-5.48	17.22	12.44	3.86
EBITDA, 1 Yr. Growth %	60.14	-3.73	-	-	-
EBITA, 1 Yr. Growth %	77.72	-5.12	24.12	17.89	-0.7
EBIT, 1 Yr. Growth %	78.75	-4.06	24.8	18.23	-0.28
Earnings From Cont. Operations, 1 Yr. Growth %	125.4	-8.7	41.6	6.86	1.5
Net Income, 1 Yr. Growth %	130.53	-8.49	42.05	9.7	24.23
Normalized Net Income, 1 Yr. Growth %	93.17	-7.04	35.23	18.76	0.43
Diluted EPS Before Extra, 1 Yr. Growth %	137.6	-4.71	47.64	8.99	5.23
Net Property, Plant and Equip., 1 Yr. Growth %	-7.78	-8.68	-6.1	5.58	-2.94
Accounts Receivable, 1 Yr. Growth %	-1.21	4.73	175	-54.55	-
Total Assets, 1 Yr. Growth %	-3.62	-10.16	0.95	1.46	-2.79
Common Equity, 1 Yr. Growth %	-0.66	-36.24	7.61	0.73	-5.55
Tangible Book Value, 1 Yr. Growth %	-1.83	-53.08	14.34	1.03	-8.77
Cash From Operations, 1 Yr. Growth %	-74.44	20.76	-26.05	197.54	90.86
Capital Expenditures, 1 Yr. Growth %	-10.03	0.86	7.29	13.6	-10.08
Levered Free Cash Flow, 1 Yr. Growth %	137.88	-63.61	-102.06	85.8	-867.68
Unlevered Free Cash Flow, 1 Yr. Growth %	106.51	-60.72	-102.33	75.06	-1.17K
Dividend Per Share, 1 Yr. Growth %	7.69	10.39	16.47	8.59	7.91
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.2	-3.93	-15.54	2.54	5.1
Gross Profit, 2 Yr. CAGR %	9.13	10.3	-20.01	8.39	8.07
EBITDA, 2 Yr. CAGR %	20.26	24.17	-	-	-
EBITA, 2 Yr. CAGR %	27.88	29.85	-3.12	18.39	8.2
EBIT, 2 Yr. CAGR %	27.83	30.96	-2.49	18.69	8.58
Earnings From Cont. Operations, 2 Yr. CAGR %	33.61	43.46	-0.9	20.17	4.15
Net Income, 2 Yr. CAGR %	37.52	45.25	-0.72	24.83	16.74
Normalized Net Income, 2 Yr. CAGR %	31.83	34	-2.47	23.37	9.21
Diluted EPS Before Extra, 2 Yr. CAGR %	39.78	50.47	2.66	23.77	7.14
Net Property, Plant and Equip., 2 Yr. CAGR %	-7.79	-8.23	-7.4	-0.43	1.23
Accounts Receivable, 2 Yr. CAGR %	-2.25	1.72	-97.72	11.8	-
Total Assets, 2 Yr. CAGR %	-0.35	-6.95	-8.84	1.2	-0.69
Common Equity, 2 Yr. CAGR %	0.88	-20.42	-16.52	4.12	-2.46
Tangible Book Value, 2 Yr. CAGR %	2.53	-32.13	-25.59	7.48	-4
Cash From Operations, 2 Yr. CAGR %	-14.02	-44.44	-0.68	16.81	138.3
Capital Expenditures, 2 Yr. CAGR %	-12.96	-4.74	10.45	9.36	1.07
Levered Free Cash Flow, 2 Yr. CAGR %	57.18	-6.95	-31.11	-81.58	106.11
Unlevered Free Cash Flow, 2 Yr. CAGR %	48.32	-9.94	-28.51	-80.87	96.16
Dividend Per Share, 2 Yr. CAGR %	45.24	9.03	13.39	12.46	8.25
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.71	-7.99	-8.12	-9.27	2.95
Gross Profit, 3 Yr. CAGR %	2.18	4.03	-6.26	-13.77	6.86
EBITDA, 3 Yr. CAGR %	5.68	11.66	-	-	-
EBITA, 3 Yr. CAGR %	6.53	15.77	18.6	1.96	11.65
EBIT, 3 Yr. CAGR %	6.16	16.17	19.34	2.39	12
Earnings From Cont. Operations, 3 Yr. CAGR %	414.9	17.68	30.32	0.05	13.59
Net Income, 3 Yr. CAGR %	50.49	20.06	31.47	2.64	24.63
Normalized Net Income, 3 Yr. CAGR %	-8.6	17.34	22.48	2.3	15.19
Diluted EPS Before Extra, 3 Yr. CAGR %	45.33	23.02	35.79	3.02	17.28
Net Property, Plant and Equip., 3 Yr. CAGR %	15.18	-8.08	-7.52	-3.26	-1.27
Accounts Receivable, 3 Yr. CAGR %	1.76	0.03	-91.99	-93.82	-
Total Assets, 3 Yr. CAGR %	-5.9	-3.73	-7.13	-5.53	-0.15
Common Equity, 3 Yr. CAGR %	4.45	-13.43	-11.53	-11.12	0.79
Tangible Book Value, 3 Yr. CAGR %	6.94	-20.99	-18.39	-17.6	1.76
Cash From Operations, 3 Yr. CAGR %	-5.09	-3.71	-36.83	22.1	37.58
Capital Expenditures, 3 Yr. CAGR %	-8.84	-8.58	3.16	10.79	2.45
Levered Free Cash Flow, 3 Yr. CAGR %	-39.74	-3.48	4.13	-7.89	-57.35
Unlevered Free Cash Flow, 3 Yr. CAGR %	-39.09	-4.75	1.81	-7	-56.83
Dividend Per Share, 3 Yr. CAGR %	4.75	32.55	11.46	11.76	10.92
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-0.78	-4.8	-3.92	-7.27	-3.36
Gross Profit, 5 Yr. CAGR %	1.19	1.09	-7.35	-5.25	-3.03
EBITDA, 5 Yr. CAGR %	1.54	4.58	-	-	-
EBITA, 5 Yr. CAGR %	1.5	3.86	2.56	11.63	13.34
EBIT, 5 Yr. CAGR %	1.24	3.85	2.61	11.89	13.86
Earnings From Cont. Operations, 5 Yr. CAGR %	2.51	0.75	166.35	12.32	18.04
Net Income, 5 Yr. CAGR %	4.59	1.46	27.42	15.38	25.36
Normalized Net Income, 5 Yr. CAGR %	1.34	3.63	-6.19	13.22	15.74
Diluted EPS Before Extra, 5 Yr. CAGR %	3.67	2.59	26.46	16.4	22.3
Net Property, Plant and Equip., 5 Yr. CAGR %	10.06	10.08	5.55	-5.09	-4.12
Accounts Receivable, 5 Yr. CAGR %	10.48	10.36	-77.72	-81.34	-
Total Assets, 5 Yr. CAGR %	-2.78	-4.35	-7.09	-3.49	-4.61
Common Equity, 5 Yr. CAGR %	0.15	-8.21	-4.5	-6.5	-8.01
Tangible Book Value, 5 Yr. CAGR %	-0.39	-14.51	-7.5	-10.07	-12.91
Cash From Operations, 5 Yr. CAGR %	-13.58	-13.76	-3.35	6.12	-2.35
Capital Expenditures, 5 Yr. CAGR %	-5.81	-2.12	-1.56	0.6	1.93
Levered Free Cash Flow, 5 Yr. CAGR %	30.99	-23.56	-36.42	14.06	33.56
Unlevered Free Cash Flow, 5 Yr. CAGR %	29.39	-22.04	-35.06	12.09	29.56
Dividend Per Share, 5 Yr. CAGR %	5.83	6.17	8.12	24.11	10.16