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 88,226 - -
Change - -0.62% 3.62% 13.18% 14.41% 5.74% - -
Enterprise Value (EV) 1 59,292 94,301 96,039 113,315 118,464 103,826 103,826 103,826
Change - 59.04% 1.84% 17.99% 4.54% -12.36% 0% 0%
P/E 8.82x 9.21x 9.42x 9.81x 9.04x 10.5x 9.67x 9.01x
PBR 0.96x 1.49x 1.3x 1.4x 1.71x 1.83x 1.73x 1.68x
PEG - -1.95x 0.9x 0.8x 0.3x -1.23x 1.1x 1.22x
Capitalization / Revenue 0.63x 0.61x 0.77x 0.84x 0.92x 0.73x 0.7x 0.67x
EV / Revenue 0.59x 0.92x 1.15x 1.3x 1.3x 0.86x 0.82x 0.79x
EV / EBITDA - - - - - - - -
EV / EBIT 6.23x 10.1x 10.4x 10.9x 11.4x 8.97x 8.36x 7.91x
EV / FCF 9.6x 12.5x 16x 9.45x 5.4x 15.2x 14.5x 11.7x
FCF Yield 10.4% 7.98% 6.26% 10.6% 18.5% 6.56% 6.91% 8.57%
Dividend per Share 2 1.54 1.7 1.98 2.15 2.32 2.5 2.692 2.904
Rate of return 5.88% 6.52% 6.71% 6.26% 5.66% 5.73% 6.17% 6.66%
EPS 2 2.97 2.83 3.13 3.5 4.53 4.144 4.509 4.841
Distribution rate 51.9% 60.1% 63.3% 61.4% 51.2% 60.3% 59.7% 60%
Net sales 1 99,931 102,345 83,627 87,303 91,139 120,452 126,051 131,552
EBITDA - - - - - - - -
EBIT 1 9,514 9,329 9,218 10,412 10,368 11,576 12,419 13,127
Net income 1 7,294 6,675 7,189 7,886 9,797 8,376 8,976 9,487
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 43.61 43.61 43.61
Nbr of stocks (in thousands) 2,389,774 2,386,757 2,185,051 2,124,998 2,037,115 2,023,058 - -
Announcement Date 2/24/22 A 2/23/23 A 2/22/24 A 2/27/25 A 2/26/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.52x0.86x - 5.73% 102B
6.66x4.97x - 5.16% 143B
12.89x - - 2.82% 99.22B
14.03x1.05x1.06x4.11% 77.43B
14.29x - - 3.25% 71.13B
12.6x - - 2.43% 61.33B
16.44x3.09x - 2.1% 58.42B
17.15x - - 2.98% 58.23B
12.53x - - 4.45% 48.87B
16.54x - - 3.47% 43.94B
Average 13.37x 2.49x 1.06x 3.65% 76.35B
Weighted average by Cap. 12.42x 2.78x 1.06x 3.89%

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