AXIS Capital Holdings Ltd (AXS) stock analysis
Close on Nov 12, 2026Market cap $7.76BP/E 8.3Yield 1.22%
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed13 of 30 checks passed
AXIS Capital passes 13 of the 30 checks behind our score; 11 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 5/6
- Growth
- 2/6
- Past performance
- 4/6
- Financial health
- 0/6
- Dividend
- 2/6
What stands out
Trading below fair value
The share price of $108.40 is below our fair value estimate of $127.42.
EPS growing 10%+ a year
Diluted EPS grew 76.4% a year over the last three fiscal years.
P/E below its 5-year median
AXIS Capital's P/E of 8.3 is below its own 5-year median of 10.3.
P/E below the industry
AXIS Capital's P/E of 8.3 is below the Fire, Marine, and Casualty Insurance median of 10.4.
What to watch
Margin of safety under 20%
The price is 14.9% below fair value, less than the 20% cushion we look for.
Return on equity under 15%
Return on equity was 16.0% over the last twelve months and averaged 11.8% over five years; we look for 15% on both.
Revenue growing under 10% a year
Revenue grew 8.5% a year over the last three fiscal years, short of the 10% we look for.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 10 fiscal years.
Valuation5/6
P/E below its 5-year median
AXIS Capital's P/E of 8.3 is below its own 5-year median of 10.3.
P/E below the industry
AXIS Capital's P/E of 8.3 is below the Fire, Marine, and Casualty Insurance median of 10.4.
P/S below the industry
AXIS Capital's price-to-sales of 1.12 is below the Fire, Marine, and Casualty Insurance median of 1.28.
P/B below the industry
AXIS Capital's price-to-book of 1.23 is below the Fire, Marine, and Casualty Insurance median of 1.62.
Trading below fair value
The share price of $108.40 is below our fair value estimate of $127.42.
Margin of safety under 20%
The price is 14.9% below fair value, less than the 20% cushion we look for.
Growth2/6
Revenue growing under 10% a year
Revenue grew 8.5% a year over the last three fiscal years, short of the 10% we look for.
EPS growing 10%+ a year
Diluted EPS grew 76.4% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 9.8% over the last twelve months; the Fire, Marine, and Casualty Insurance median is 5.0%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
Banks and insurers do not report gross profit.
Past performance4/6
Return on equity under 15%
Return on equity was 16.0% over the last twelve months and averaged 11.8% over five years; we look for 15% on both.
Return on assets over 1%
Return on assets was 2.9%; for a bank or insurer, 1% or more is considered good.
Return on equity above the industry
AXIS Capital's return on equity of 16.0% is above the Fire, Marine, and Casualty Insurance median of 15.9%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 14.6% over the last twelve months, against a 5-year average of 11.2%.
Net margin above the industry
AXIS Capital's net margin of 14.6% is above the Fire, Marine, and Casualty Insurance median of 12.0%.
Financial health0/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest coverage
Interest expense is not reported separately.
Short-term liquidity
Insurers do not split assets into current and non-current.
Bankruptcy risk (Altman Z)
The Altman model does not apply to insurers.
Dividend2/6
Pays a dividend
AXIS Capital paid dividends worth 1.2% of the share price over the last twelve months.
Yield below Treasuries
The 1.2% yield is below the 4.4% on a 1-year Treasury.
Yield below the top quarter
The top quarter of US dividend payers yield 3.8% or more; AXIS Capital yields 1.2%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 10 fiscal years.
Covered by earnings
Dividends take 13.3% of net income.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$127.42
The share price is 15% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 10.3× | 10.3× | 10.4× | $135.31 | 50% |
| P/B | 1.4× | 1.1× | 1.6× | $119.53 | 50% |
| Fair value | $127.42 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 10.3
- Fire, Marine, and Casualty Insurance median 10.4
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $74.25M
- Value traded per 1% price move
- $74.40M
Downside
Low risk
- Typical loss in a bad month
- 13.2%
- Volatility (annualized)
- 24%
- Sharpe ratio, 1 year
- 0.18
- Beta to the S&P 500 (5Y)
- 0.43
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +10.2% | +8.5% | +6.3% | +4.7% | |
| Net income | -6.7% | +65.4% | – | +4.6% | |
| EPS, diluted | 0.0% | +76.4% | – | +7.4% | |
| Dividend per share | 0.0% | +0.8% | +1.4% | +0.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 8.5% | -2.2% | 16.2% | |
| Return on assets | 2.5% | -0.5% | 3.0% | |
| Diluted shares | 92M | 84M | 79M |
Cash use needs five years of cash flow figures
AXIS Capital does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 15.4% | 0.20× | 5.39× | 16.2% |
| FY2024 | 18.2% | 0.19× | 5.54× | 19.1% |
| FY2023 | 6.7% | 0.19× | 5.85× | 7.6% |
| FY2022 | 4.3% | 0.19× | 5.48× | 4.4% |
| FY2021 | 11.6% | 0.20× | 4.97× | 11.6% |
| FY2020 | -2.5% | 0.19× | 4.75× | -2.2% |
| FY2019 | 6.3% | 0.21× | 4.70× | 6.1% |
| FY2018 | 0.8% | 0.21× | 4.71× | 0.8% |
| FY2017 | -8.0% | 0.20× | 3.92× | -6.4% |
| FY2016 | 12.8% | 0.20× | 3.36× | 8.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$1.01B
- Cash generatingOperating cash flow above zero-$40.93M
- Return on assets improvedROA up on the prior year3.6% → 3.1%
- Earnings backed by cashOperating cash flow above net income-$40.93M vs $1.01B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise85M → 79M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.20 → 0.20
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