Projected Income Statement: AXA

Forecast Balance Sheet: AXA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 -3,284 32,114 31,602 40,385 35,024 15,800 15,800 15,800
Change - 1,077.89% -1.59% 27.79% -13.27% -54.89% 0% 0%
Announcement Date 2/24/22 2/23/23 2/22/24 2/27/25 2/26/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: AXA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 - - - - 425 475 501 529
Change - - - - - 11.76% 5.47% 5.59%
Free Cash Flow (FCF) 1 6,176 7,528 6,010 11,991 21,924 6,859 7,228 8,900
Change - 21.89% -20.16% 99.52% 82.84% -68.71% 5.38% 23.13%
Announcement Date 2/24/22 2/23/23 2/22/24 2/27/25 2/26/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: AXA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) - - - - - - - -
EBIT Margin (%) 9.52% 9.12% 11.02% 11.93% 11.38% 10.41% 10.26% 10.5%
EBT Margin (%) 9.2% 8.51% 10.63% 11.43% 10.97% 8.96% 8.69% 8.81%
Net margin (%) 7.3% 6.52% 8.6% 9.03% 10.75% 7.64% 7.5% 7.8%
FCF margin (%) 6.18% 7.36% 7.19% 13.73% 24.06% 6.17% 6.07% 7.36%
FCF / Net Income (%) 84.67% 112.78% 83.6% 152.05% 223.78% 80.78% 80.91% 94.34%

Profitability

        
ROA 0.86% 0.99% 1.12% 2.47% 1.52% 1.32% 1.37% 1.43%
ROE 14.7% 12.8% 14.1% 15.2% 16% 17.48% 17.76% 18.19%

Financial Health

        
Leverage (Debt/EBITDA) - - - - - - - -
Debt / Free cash flow - 4.27x 5.26x 3.37x 1.6x 2.3x 2.19x 1.78x

Capital Intensity

        
CAPEX / Current Assets (%) - - - - 0.47% 0.43% 0.42% 0.44%
CAPEX / EBITDA (%) - - - - - - - -
CAPEX / FCF (%) - - - - 1.94% 6.93% 6.93% 5.94%

Items per share

        
Cash flow per share 1 - - - - - - - -
Change - - - - - - - -
Dividend per Share 1 1.54 1.7 1.98 2.15 2.32 2.484 2.673 2.868
Change - 10.39% 16.47% 8.59% 7.91% 7.05% 7.64% 7.28%
Book Value Per Share 1 27.4 17.5 22.7 24.5 24 23.68 24.98 26.77
Change - -36.13% 29.71% 7.93% -2.04% -1.33% 5.5% 7.14%
EPS 1 2.97 2.83 3.13 3.5 4.53 4.126 4.458 4.826
Change - -4.71% 10.6% 11.82% 29.43% -8.92% 8.05% 8.26%
Nbr of stocks (in thousands) 2,389,774 2,386,757 2,185,051 2,124,998 2,037,115 2,055,418 2,055,418 2,055,418
Announcement Date 2/24/22 2/23/23 2/22/24 2/27/25 2/26/26 - - -
1EUR
Estimates
2026 *2027 *
P/E Ratio 9.82x 9.09x
PBR 1.71x 1.62x
EV / Sales 0.89x 0.83x
Yield 6.13% 6.6%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
40.53EUR
Average target price
46.48EUR
Spread / Average Target
+14.67%

Quarterly revenue - Rate of surprise

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