Retained earnings is the accumulated portion of net income that is not distributed to shareholders. AXA's retained earnings for the quarter that ended in Dec. 2025 was CHF38,644 Mil.
AXA's quarterly retained earnings
declined
from Dec. 2024 (CHF34,060 Mil) to Jun. 2025 (CHF33,374 Mil) but then
increased
from Jun. 2025 (CHF33,374 Mil) to Dec. 2025 (CHF38,644 Mil).
AXA's annual retained earnings
increased
from Dec. 2023 (CHF31,256 Mil) to Dec. 2024 (CHF34,060 Mil) and
increased
from Dec. 2024 (CHF34,060 Mil) to Dec. 2025 (CHF38,644 Mil).
AXA (XSWX:CS) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
AXA Retained Earnings Historical Data
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The historical data trend for AXA's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of CHF38,644 Mil mean?
AXA (XSWX:CS) has a Retained Earnings of CHF38,644 Mil as of Dec. 2025. Retained earnings is the amount of net income not issued to shareholders. View historical data on AXA and its competitors.
Is AXA's Retained Earnings too high?
AXA's current Retained Earnings is CHF38,644 Mil. Overall, AXA has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does AXA's Retained Earnings compare to BRK.A and AIG?
AXA's Retained Earnings of CHF38,644 Mil can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for an Insurance company?
A good Retained Earnings depends on the Insurance industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on AXA and its competitors. AXA's current Retained Earnings is CHF38,644 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AXA stock overvalued right now?
AXA (XSWX:CS) has a current Retained Earnings of CHF38,644 Mil. The stock's GF Value™ is CHF33.11, compared to a current price of CHF37.96 — trading 14.6% above its estimated fair value. The current Retained Earnings is CHF38,644 Mil. AXA's overall GF Score™ is 70/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For AXA (XSWX:CS), the current Retained Earnings is CHF38,644 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is AXA (XSWX:CS) Overvalued in 2026?
Based on GuruFocus' analysis, AXA stock appears to be overvalued.
The current stock price of CHF37.96 is trading 14.6% above its estimated GF Value™ of CHF33.11.
Key valuation signals for XSWX:CS:
Retained Earnings: CHF38,644 Mil
GF Value™: CHF33.11 vs. price of CHF37.96 (14.6% above fair value)
No single metric tells the full story. See the XSWX:CS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AXA's origins date back to Ancienne Mutuelle, one of the few insurers that remained after the creation of the French social security system. With the threat of nationalization, a merger took place between Drouot and AXA, which was then still known as Mutuelles Unies in 1982, and later Présence. Ten years later, AXA acquired North American life insurer Equitable Holdings. This was a time of expansion as AXA also bought the French insurer UAP. As markets crashed at the turn of the millennium, AXA decided to refocus its business and exited its stake in US investment bank Donaldson, Lufkin & Jenrette. A few years later, the business expanded again with the acquisition of Swiss insurer Winterthur. AXA has reshaped its portfolio to technical risks.
70GF Score
Get the complete analysis for XSWX:CS
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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