AXAXSWX:CS 70 Return-on-Tangible-Equity is 47.78% as of Dec. 2025, which is 207% above its 10-year median of 15.56. GuruFocus rates XSWX:CS with a GF Score™ of 70/100 and a GF Value™ of CHF33.11. The stock has 5 warning signs investors should review. Among 499 Insurance companies, AXA ranks better than 87.98% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. AXA's annualized net income for the quarter that ended in Dec. 2025 was CHF10,964 Mil. AXA's average shareholder tangible equity for the quarter that ended in Dec. 2025 was CHF22,950 Mil. Therefore, AXA's annualized Return-on-Tangible-Equity for the quarter that ended in Dec. 2025 was 47.78%.
The historical rank and industry rank for AXA's Return-on-Tangible-Equity or its related term are showing as below:
XSWX:CS'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 4.84 Med: 15.56 Max: 38.45
Current: 38.45
During the past 13 years, AXA's highest Return-on-Tangible-Equity was 38.45%. The lowest was 4.84%. And the median was 15.56%.
XSWX:CS's Return-on-Tangible-Equity is ranked better than 87.98% of 499
companies
in the Insurance industry
Industry Median: 13.52
vs XSWX:CS: 38.45
AXA (XSWX:CS) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
AXA Return-on-Tangible-Equity Related Terms
AXA Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for AXA's Return-on-Tangible-Equity 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.
XSWX:CS vs BRK.A, AIG, HIG: Return-on-Tangible-Equity Comparison
For the Insurance - Diversified subindustry, AXA's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
AXA Return-on-Tangible-Equity vs Insurance Industry
For the Insurance industry and Financial Services sector, AXA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where AXA's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Dec. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 47.78% mean?
AXA (XSWX:CS) has a Return-on-Tangible-Equity of 47.78% as of Dec. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on AXA and its competitors. This is 207% above median its historical median of 15.56. Over the past decade, AXA's Return-on-Tangible-Equity has ranged from 4.84 to 38.45. According to the industry distribution chart, AXA ranks #60 out of 499 companies in the Insurance industry, placing it in the top 12%.
Is AXA's Return-on-Tangible-Equity too high?
AXA's current Return-on-Tangible-Equity of 47.78% is 207% above median its 10-year median of 15.56. Over the past 10 years, this metric has ranged from a low of 4.84 to a high of 38.45. The Insurance industry median Return-on-Tangible-Equity is 13.52. AXA's value of 47.78% is 253.4% above this industry median. Based on the distribution chart, AXA ranks #60 out of 499 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, AXA has a GF Score™ of 70/100, reflecting its overall financial health beyond just this single metric.
How does AXA's Return-on-Tangible-Equity compare to BRK.A and AIG?
According to the Insurance industry distribution chart, AXA ranks #60 out of 499 companies for Return-on-Tangible-Equity. This places AXA in the top 12% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 13.52. AXA's value of 47.78% is 253.4% above this benchmark. Historically, AXA's own Return-on-Tangible-Equity has ranged from 4.84 to 38.45 over the past decade. While the company's 10-year median is 15.56 vs. the industry median of 13.52, AXA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Insurance company?
The median Return-on-Tangible-Equity among Insurance companies is 13.52, based on 499 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. AXA's current Return-on-Tangible-Equity of 47.78% is 253.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on AXA and its competitors. For the Insurance industry, the median Return-on-Tangible-Equity is 13.52 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AXA's current Return-on-Tangible-Equity is 47.78%, which is 207% above median its own 10-year median of 15.56. 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 Return-on-Tangible-Equity of 47.78%. 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 Return-on-Tangible-Equity is 47.78%, which is 207% above median its 10-year median of 15.56 and 253.4% above the Insurance industry median of 13.52. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For AXA (XSWX:CS), the current Return-on-Tangible-Equity is 47.78% 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:
Return-on-Tangible-Equity: 47.78% (207% above median its 10-year median of 15.56)
GF Value™: CHF33.11 vs. price of CHF37.96 (14.6% above fair value)
Industry Position: 253.4% above the Insurance median (#60 of 499)
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
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