AXA S.A.

AXAHYOTCFinancial Services● Active

$45.47

+$0.21(+0.47%)

Market Cap$93.5B

P/E Ratio—

52W High$50.95

52W Low$43.04

Avg Volume188K

Open$45.65

Beta0.60

Free Cash Flow Financials Revenue

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

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

AXAHY · free cash flow · updated Jun 8, 2026

Core FCF metrics

AXAHY · FCF · TTM · margin & CAGR

Free cash flow was $20.22B for FY2025 (fiscal year ending 2025-12-31), up 68.7% year-over-year The FCF margin was 18.2%. Five-year CAGR stands at -4.3%.

FY2025 Free Cash Flow$20.22B▲ +68.7% YoY

Trailing 12M (TTM)$34.64Btrailing 4 quarters sum

FCF Margin18.2%$20.22B ÷ revenue

3-Year CAGR+39.0%FY2022 → FY2025

5-Year CAGR-4.3%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

AXAHY · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$20.64B(411M)$20.22B▲ +68.7%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

AXAHY · P/FCF · FCF yield · FCF per share

AXA S.A. (AXAHY) trades at a FCF yield of 25.80% and a price-to-free-cash-flow ratio of 2.7x. FCF per share stands at $16.57, 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)

$16.57

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.7

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

AXAHY · cash flow statement · operating / investing / financing

For FY2025, AXA S.A. generated $20.64B in operating cash flow and spent 411M in capital expenditures, yielding $20.22B in free cash flow.

Operating Activities

+$20.64B

Cash from core business operations

2025-12-31

Investing Activities

−$10.21B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$7.80B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($20.64B) − |CapEx| (411M) = FCF ($20.22B)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

AXAHY vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

AXA S.A.YOU

AXAHY

$20.22B+68.7%18.2%

20%

Berkshire Hathaway Inc.

BRK-A

$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. (AXAHY) reported free cash flow of $20.22B for FY2025 (fiscal year ending 2025-12-31), up 68.7% 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 -4.3%.

AXA S.A.'s FCF yield is 25.80% and price-to-FCF ratio is 2.7x 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

AXAHY free cash flow · 8 questions

AXA S.A. free cash flow was $20.22B for FY2025, up 68.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $34.64B.

AXAHY free cash flowAXAHY FCFAXAHY FCF 2025AXAHY 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