AXA S.A.

AXAHFOTCFinancial Services● Active

$45.30

$-0.70(-1.52%)

Market Cap$93.1B

P/E Ratio—

52W High$50.79

52W Low$43

Avg Volume1K

Open$45.30

Beta0.60

Free Cash Flow Financials Revenue

AXA S.A. (AXAHF) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AXAHF · free cash flow · updated Jun 8, 2026

Core FCF metrics

AXAHF · FCF · TTM · margin & CAGR

Free cash flow was $21.05B for FY2025 (fiscal year ending 2025-12-31), up 75.5% year-over-year The FCF margin was 18.2%. Five-year CAGR stands at -3.5%.

FY2025 Free Cash Flow$21.05B▲ +75.5% YoY

Trailing 12M (TTM)$33.75Btrailing 4 quarters sum

FCF Margin18.2%$21.05B ÷ revenue

3-Year CAGR+40.9%FY2022 → FY2025

5-Year CAGR-3.5%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AXAHF · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$21.47B(428M)$21.05B▲ +75.5%18.2%

FY2024$11.88B(476M)$11.99B▲ +99.5%13.3%

FY2023$3.99B(427M)$6.01B▼ 20.2%6.9%

FY2022$8.71B(353M)$7.53B▲ +21.9%8.7%

FY2021$6.53B(350M)$6.18B▼ 75.4%5.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AXAHF · P/FCF · FCF yield · FCF per share

AXA S.A. (AXAHF) trades at a FCF yield of 25.80% and a price-to-free-cash-flow ratio of 2.8x. FCF per share stands at $16.14, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

25.80%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$16.14

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.8

Share Price ÷ FCF per Share

EV / FCF (TTM)

x3.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

AXAHF · cash flow statement · operating / investing / financing

For FY2025, AXA S.A. generated $21.47B in operating cash flow and spent 428M in capital expenditures, yielding $21.05B in free cash flow.

Operating Activities

+$21.47B

Cash from core business operations

2025-12-31

Investing Activities

−$10.63B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$8.12B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($21.47B) − |CapEx| (428M) = FCF ($21.05B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

AXAHF vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

AXA S.A.YOU

AXAHF

$21.05B+75.5%18.2%

21%

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

AXA S.A. (AXAHF) reported free cash flow of $21.05B for FY2025 (fiscal year ending 2025-12-31), up 75.5% year-over-year. The FCF margin was 18.2%.

Based on available data, AXA S.A. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $25.14B in FY2020. The 5-year CAGR stands at -3.5%.

AXA S.A.'s FCF yield is 25.80% and price-to-FCF ratio is 2.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AXAHF free cash flow · 8 questions

AXA S.A. free cash flow was $21.05B for FY2025, up 75.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $33.75B.

AXAHF free cash flowAXAHF FCFAXAHF FCF 2025AXAHF free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · AXA S.A. · AXA S.A. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026