Annual Income Statements for Axis Capital
This table shows Axis Capital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for Axis Capital
This table shows Axis Capital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-17 |
41 |
173 |
143 |
181 |
-150 |
388 |
204 |
173 |
286 |
187 |
Consolidated Net Income / (Loss) |
|
-9.38 |
48 |
180 |
151 |
188 |
-143 |
395 |
212 |
181 |
294 |
194 |
Net Income / (Loss) Continuing Operations |
|
-9.38 |
48 |
180 |
151 |
188 |
-143 |
395 |
212 |
181 |
294 |
194 |
Total Pre-Tax Income |
|
-2.19 |
79 |
198 |
176 |
210 |
-186 |
270 |
245 |
227 |
267 |
236 |
Total Revenue |
|
1,357 |
1,359 |
1,322 |
1,346 |
1,467 |
1,401 |
1,426 |
1,454 |
1,503 |
1,568 |
1,453 |
Net Interest Income / (Expense) |
|
-16 |
-16 |
-17 |
-17 |
-16 |
-18 |
-17 |
-17 |
-17 |
-17 |
-17 |
Total Interest Income |
|
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
0.00 |
0.00 |
- |
0.00 |
Total Interest Expense |
|
16 |
16 |
17 |
17 |
16 |
18 |
17 |
17 |
17 |
17 |
17 |
Long-Term Debt Interest Expense |
|
16 |
16 |
17 |
17 |
16 |
18 |
17 |
17 |
17 |
17 |
17 |
Total Non-Interest Income |
|
1,373 |
1,376 |
1,338 |
1,362 |
1,484 |
1,419 |
1,443 |
1,471 |
1,520 |
1,585 |
1,470 |
Other Service Charges |
|
1.09 |
3.08 |
0.58 |
5.52 |
10 |
6.05 |
8.34 |
8.53 |
6.84 |
7.02 |
3.58 |
Net Realized & Unrealized Capital Gains on Investments |
|
87 |
32 |
108 |
91 |
151 |
148 |
177 |
158 |
146 |
201 |
125 |
Premiums Earned |
|
1,285 |
1,340 |
1,230 |
1,266 |
1,323 |
1,265 |
1,258 |
1,304 |
1,367 |
1,377 |
1,341 |
Provision for Credit Losses |
|
3.21 |
- |
2.81 |
-0.35 |
-1.08 |
3.87 |
-4.66 |
13 |
1.13 |
0.91 |
2.73 |
Total Non-Interest Expense |
|
1,356 |
1,279 |
1,121 |
1,170 |
1,258 |
1,582 |
1,161 |
1,196 |
1,275 |
1,300 |
1,214 |
Property & Liability Insurance Claims |
|
942 |
798 |
721 |
736 |
784 |
1,152 |
729 |
766 |
832 |
832 |
786 |
Other Operating Expenses |
|
158 |
187 |
167 |
169 |
179 |
170 |
163 |
148 |
165 |
189 |
159 |
Amortization Expense |
|
243 |
278 |
233 |
256 |
266 |
257 |
257 |
268 |
278 |
279 |
267 |
Impairment Charge |
|
13 |
- |
0.00 |
9.08 |
29 |
3.63 |
12 |
14 |
0.01 |
0.23 |
1.93 |
Income Tax Expense |
|
-0.36 |
27 |
16 |
28 |
25 |
-42 |
-125 |
41 |
48 |
-19 |
44 |
Other Gains / (Losses), net |
|
-7.56 |
-3.05 |
-2.21 |
2.10 |
2.94 |
1.33 |
1.17 |
7.90 |
1.62 |
7.26 |
2.29 |
Preferred Stock Dividends Declared |
|
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
7.56 |
Basic Earnings per Share |
|
($0.20) |
$0.48 |
$2.03 |
$1.68 |
$2.12 |
($1.77) |
$4.57 |
$2.42 |
$2.06 |
$3.44 |
$2.30 |
Weighted Average Basic Shares Outstanding |
|
84.66M |
84.86M |
84.86M |
85.21M |
85.22M |
85.14M |
84.88M |
84.48M |
83.94M |
84.17M |
81.15M |
Diluted Earnings per Share |
|
($0.20) |
$0.48 |
$2.01 |
$1.67 |
$2.10 |
($1.76) |
$4.53 |
$2.40 |
$2.04 |
$3.38 |
$2.26 |
Weighted Average Diluted Shares Outstanding |
|
84.66M |
85.67M |
85.85M |
85.81M |
86.11M |
86.01M |
85.69M |
85.33M |
85M |
85.18M |
82.38M |
Weighted Average Basic & Diluted Shares Outstanding |
|
84.67M |
84.71M |
85.20M |
- |
- |
84.45M |
84.66M |
84.18M |
83.66M |
80.79M |
78.65M |
Cash Dividends to Common per Share |
|
- |
- |
- |
- |
$0.00 |
- |
- |
- |
$0.00 |
- |
$0.00 |
Annual Cash Flow Statements for Axis Capital
This table details how cash moves in and out of Axis Capital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
|
66 |
67 |
122 |
466 |
-254 |
-73 |
-186 |
-143 |
209 |
1,680 |
Net Cash From Operating Activities |
|
791 |
407 |
259 |
11 |
199 |
344 |
1,198 |
798 |
1,256 |
1,845 |
Net Cash From Continuing Operating Activities |
|
791 |
407 |
259 |
11 |
199 |
344 |
1,198 |
798 |
1,256 |
1,845 |
Net Income / (Loss) Continuing Operations |
|
642 |
513 |
-369 |
43 |
323 |
-120 |
619 |
223 |
376 |
1,082 |
Consolidated Net Income / (Loss) |
|
642 |
513 |
-369 |
43 |
323 |
-120 |
619 |
223 |
376 |
1,082 |
Depreciation Expense |
|
26 |
25 |
31 |
9.80 |
75 |
66 |
67 |
68 |
76 |
55 |
Amortization Expense |
|
97 |
66 |
93 |
197 |
45 |
38 |
40 |
26 |
-20 |
-38 |
Non-Cash Adjustments to Reconcile Net Income |
|
161 |
76 |
-71 |
-49 |
-135 |
-113 |
-309 |
448 |
105 |
122 |
Changes in Operating Assets and Liabilities, net |
|
-135 |
-273 |
574 |
-190 |
-110 |
473 |
781 |
33 |
719 |
624 |
Net Cash From Investing Activities |
|
-226 |
-129 |
392 |
639 |
-774 |
490 |
-1,197 |
-762 |
-856 |
280 |
Net Cash From Continuing Investing Activities |
|
-226 |
-129 |
392 |
639 |
-774 |
490 |
-1,197 |
-762 |
-856 |
280 |
Purchase of Investment Securities |
|
-11,772 |
-10,144 |
-9,558 |
-9,048 |
-10,707 |
-11,388 |
-13,158 |
-8,411 |
-7,242 |
-11,400 |
Sale and/or Maturity of Investments |
|
11,517 |
10,015 |
9,949 |
9,793 |
9,932 |
11,878 |
11,961 |
7,649 |
6,387 |
11,433 |
Other Investing Activities, net |
|
30 |
- |
- |
-106 |
- |
- |
- |
0.00 |
0.00 |
247 |
Net Cash From Financing Activities |
|
-487 |
-202 |
-546 |
-186 |
278 |
-909 |
-186 |
-150 |
-202 |
-417 |
Net Cash From Continuing Financing Activities |
|
-487 |
-202 |
-546 |
-186 |
278 |
-909 |
-186 |
-150 |
-202 |
-417 |
Repayment of Debt |
|
0.00 |
0.00 |
-67 |
0.00 |
-250 |
-500 |
- |
79 |
5.25 |
-19 |
Repurchase of Common Equity |
|
-314 |
-495 |
-261 |
- |
- |
0.00 |
0.00 |
-35 |
0.00 |
-200 |
Payment of Dividends |
|
-159 |
-172 |
-188 |
-176 |
-180 |
-173 |
-176 |
-180 |
-184 |
-182 |
Other Financing Activities, Net |
|
-18 |
-14 |
-25 |
-10 |
-10 |
-10 |
-10 |
-14 |
-24 |
-16 |
Effect of Exchange Rate Changes |
|
-12 |
-9.35 |
17 |
3.11 |
44 |
2.15 |
-0.07 |
-30 |
12 |
-28 |
Cash Interest Paid |
|
49 |
49 |
50 |
65 |
60 |
54 |
59 |
60 |
64 |
64 |
Cash Income Taxes Paid |
|
13 |
12 |
0.00 |
16 |
40 |
4.41 |
45 |
33 |
77 |
81 |
Quarterly Cash Flow Statements for Axis Capital
This table details how cash moves in and out of Axis Capital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q4 2024 |
Q1 2025 |
Net Change in Cash & Equivalents |
|
- |
-661 |
4.64 |
339 |
117 |
458 |
-187 |
1,592 |
269 |
Net Cash From Operating Activities |
|
- |
-119 |
241 |
397 |
249 |
384 |
518 |
356 |
309 |
Net Cash From Continuing Operating Activities |
|
- |
-119 |
241 |
397 |
249 |
384 |
518 |
356 |
309 |
Net Income / (Loss) Continuing Operations |
|
- |
48 |
180 |
151 |
-143 |
395 |
212 |
294 |
194 |
Consolidated Net Income / (Loss) |
|
- |
48 |
180 |
151 |
-143 |
395 |
212 |
294 |
194 |
Depreciation Expense |
|
- |
16 |
15 |
16 |
13 |
14 |
14 |
13 |
14 |
Amortization Expense |
|
- |
1.22 |
-2.43 |
-3.49 |
-8.51 |
-8.63 |
-9.76 |
-12 |
-11 |
Non-Cash Adjustments to Reconcile Net Income |
|
- |
34 |
31 |
44 |
-35 |
17 |
41 |
107 |
17 |
Changes in Operating Assets and Liabilities, net |
|
- |
-219 |
17 |
190 |
422 |
-34 |
261 |
-47 |
95 |
Net Cash From Investing Activities |
|
- |
-528 |
-178 |
-4.58 |
-109 |
211 |
-621 |
1,391 |
462 |
Net Cash From Continuing Investing Activities |
|
- |
-528 |
-178 |
-4.58 |
-109 |
211 |
-621 |
1,391 |
462 |
Purchase of Investment Securities |
|
- |
-2,311 |
-1,806 |
-1,723 |
-1,434 |
-2,792 |
-2,201 |
-3,622 |
-3,245 |
Sale and/or Maturity of Investments |
|
- |
1,783 |
1,629 |
1,719 |
1,325 |
3,003 |
1,579 |
4,766 |
3,707 |
Net Cash From Financing Activities |
|
- |
-44 |
-59 |
-46 |
-52 |
-123 |
-84 |
-115 |
-512 |
Net Cash From Continuing Financing Activities |
|
- |
-44 |
-59 |
-46 |
-52 |
-123 |
-84 |
-115 |
-512 |
Repurchase of Common Equity |
|
- |
- |
0.00 |
- |
- |
-62 |
-38 |
-60 |
-440 |
Payment of Dividends |
|
- |
-44 |
-48 |
-45 |
-46 |
-48 |
-45 |
-45 |
-47 |
Other Financing Activities, Net |
|
- |
-0.31 |
-16 |
-1.11 |
-6.17 |
-14 |
-0.44 |
-0.98 |
-25 |
Effect of Exchange Rate Changes |
|
- |
31 |
0.19 |
-6.83 |
28 |
-14 |
0.28 |
-39 |
9.44 |
Cash Interest Paid |
|
- |
14 |
17 |
14 |
14 |
18 |
15 |
14 |
17 |
Cash Income Taxes Paid |
|
- |
-3.01 |
-2.40 |
34 |
23 |
6.80 |
18 |
33 |
13 |
Annual Balance Sheets for Axis Capital
This table presents Axis Capital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Total Assets |
|
19,982 |
20,814 |
24,760 |
24,133 |
25,604 |
25,878 |
27,369 |
27,683 |
30,251 |
32,520 |
Cash and Due from Banks |
|
988 |
1,039 |
949 |
1,233 |
1,241 |
903 |
845 |
751 |
953 |
2,143 |
Restricted Cash |
|
187 |
202 |
415 |
597 |
335 |
600 |
473 |
423 |
431 |
920 |
Trading Account Securities |
|
12,329 |
12,152 |
13,366 |
11,925 |
13,060 |
12,674 |
13,561 |
12,659 |
13,684 |
13,382 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Mortgage Servicing Rights |
|
206 |
350 |
325 |
299 |
433 |
593 |
594 |
627 |
610 |
506 |
Unearned Premiums Asset |
|
4,460 |
5,205 |
3,822 |
4,021 |
4,173 |
3,933 |
4,000 |
4,284 |
4,984 |
5,106 |
Deferred Acquisition Cost |
|
472 |
439 |
474 |
567 |
492 |
431 |
466 |
474 |
451 |
525 |
Goodwill |
|
- |
47 |
102 |
102 |
102 |
101 |
101 |
101 |
101 |
66 |
Intangible Assets |
|
87 |
38 |
258 |
242 |
231 |
220 |
209 |
198 |
187 |
176 |
Other Assets |
|
1,180 |
1,267 |
4,968 |
5,067 |
5,459 |
6,357 |
7,121 |
8,166 |
8,850 |
9,695 |
Total Liabilities & Shareholders' Equity |
|
19,982 |
20,814 |
24,760 |
24,133 |
25,604 |
25,878 |
27,369 |
27,683 |
30,251 |
32,520 |
Total Liabilities |
|
14,115 |
14,541 |
19,419 |
19,102 |
20,060 |
20,582 |
21,958 |
23,043 |
24,987 |
26,431 |
Short-Term Debt |
|
9.36 |
63 |
101 |
112 |
33 |
105 |
32 |
20 |
26 |
270 |
Long-Term Debt |
|
992 |
993 |
1,377 |
1,342 |
1,808 |
1,310 |
1,311 |
1,394 |
1,400 |
1,382 |
Claims and Claim Expense |
|
9,646 |
9,698 |
12,998 |
12,281 |
12,752 |
13,927 |
14,653 |
15,169 |
16,434 |
17,219 |
Unearned Premiums Liability |
|
2,761 |
2,969 |
3,641 |
3,636 |
3,626 |
3,686 |
4,091 |
4,361 |
4,748 |
5,212 |
Other Long-Term Liabilities |
|
707 |
818 |
1,303 |
1,732 |
1,841 |
1,555 |
1,872 |
2,099 |
2,380 |
2,349 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
5,867 |
6,272 |
5,341 |
5,030 |
5,544 |
5,296 |
5,411 |
4,640 |
5,263 |
6,089 |
Total Preferred & Common Equity |
|
5,867 |
6,272 |
5,341 |
5,030 |
5,544 |
5,296 |
5,411 |
4,640 |
5,263 |
6,089 |
Preferred Stock |
|
- |
- |
- |
- |
- |
- |
550 |
550 |
550 |
550 |
Total Common Equity |
|
5,867 |
6,272 |
5,341 |
5,030 |
5,544 |
5,296 |
4,861 |
4,090 |
4,713 |
5,539 |
Common Stock |
|
2,244 |
2,302 |
2,301 |
2,311 |
2,319 |
2,332 |
2,348 |
2,368 |
2,385 |
2,396 |
Retained Earnings |
|
6,194 |
6,528 |
5,980 |
5,913 |
6,057 |
5,764 |
6,205 |
6,247 |
6,441 |
7,342 |
Treasury Stock |
|
-3,010 |
-3,562 |
-3,807 |
-3,791 |
-3,779 |
-3,765 |
-3,749 |
-3,765 |
-3,747 |
-3,931 |
Accumulated Other Comprehensive Income / (Loss) |
|
-188 |
-122 |
92 |
-177 |
172 |
414 |
57 |
-760 |
-366 |
-268 |
Quarterly Balance Sheets for Axis Capital
This table presents Axis Capital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q1 2025 |
Total Assets |
|
27,120 |
28,565 |
29,316 |
29,473 |
31,759 |
32,079 |
32,723 |
33,249 |
Cash and Due from Banks |
|
1,210 |
817 |
1,174 |
890 |
1,144 |
1,093 |
981 |
2,757 |
Restricted Cash |
|
625 |
362 |
344 |
378 |
698 |
562 |
490 |
576 |
Trading Account Securities |
|
12,096 |
13,064 |
13,027 |
13,155 |
13,727 |
14,007 |
15,075 |
13,044 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Mortgage Servicing Rights |
|
654 |
634 |
609 |
610 |
610 |
545 |
525 |
458 |
Unearned Premiums Asset |
|
4,386 |
4,752 |
5,139 |
5,181 |
5,578 |
5,800 |
5,429 |
5,901 |
Deferred Acquisition Cost |
|
542 |
560 |
586 |
504 |
543 |
592 |
574 |
626 |
Goodwill |
|
101 |
101 |
101 |
101 |
101 |
101 |
101 |
66 |
Intangible Assets |
|
201 |
195 |
192 |
190 |
184 |
181 |
179 |
173 |
Other Assets |
|
7,228 |
8,079 |
8,143 |
8,465 |
9,174 |
9,198 |
9,086 |
9,648 |
Total Liabilities & Shareholders' Equity |
|
27,120 |
28,565 |
29,316 |
29,473 |
31,759 |
32,079 |
32,723 |
33,249 |
Total Liabilities |
|
22,776 |
23,605 |
24,295 |
24,439 |
26,254 |
26,419 |
26,639 |
27,346 |
Short-Term Debt |
|
79 |
79 |
82 |
88 |
494 |
119 |
128 |
194 |
Long-Term Debt |
|
1,393 |
1,398 |
1,399 |
1,399 |
1,400 |
1,400 |
1,390 |
1,382 |
Claims and Claim Expense |
|
14,652 |
15,315 |
15,419 |
15,555 |
16,631 |
16,739 |
17,295 |
17,489 |
Unearned Premiums Liability |
|
4,651 |
4,822 |
5,139 |
4,996 |
5,354 |
5,675 |
5,453 |
5,860 |
Other Long-Term Liabilities |
|
2,001 |
1,991 |
2,255 |
2,401 |
2,375 |
2,487 |
2,373 |
2,422 |
Total Equity & Noncontrolling Interests |
|
4,343 |
4,960 |
5,021 |
5,033 |
5,505 |
5,659 |
6,083 |
5,903 |
Total Preferred & Common Equity |
|
4,343 |
4,960 |
5,021 |
5,033 |
5,505 |
5,659 |
6,083 |
5,903 |
Preferred Stock |
|
- |
550 |
550 |
550 |
550 |
550 |
550 |
550 |
Total Common Equity |
|
4,343 |
4,410 |
4,471 |
4,483 |
4,955 |
5,109 |
5,533 |
5,353 |
Common Stock |
|
2,357 |
2,350 |
2,363 |
2,378 |
2,370 |
2,378 |
2,388 |
2,377 |
Retained Earnings |
|
6,244 |
6,381 |
6,486 |
6,628 |
6,791 |
6,957 |
7,093 |
7,492 |
Treasury Stock |
|
-3,765 |
-3,749 |
-3,748 |
-3,747 |
-3,794 |
-3,831 |
-3,871 |
-4,364 |
Accumulated Other Comprehensive Income / (Loss) |
|
-1,043 |
-572 |
-631 |
-775 |
-412 |
-395 |
-77 |
-152 |
Annual Metrics And Ratios for Axis Capital
This table displays calculated financial ratios and metrics derived from Axis Capital's official financial filings.
Metric |
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-4.45% |
-2.54% |
8.01% |
14.77% |
1.29% |
-8.43% |
12.23% |
-0.09% |
5.34% |
7.53% |
EBITDA Growth |
|
-20.75% |
-20.30% |
-139.74% |
190.13% |
108.77% |
-105.53% |
3,086.01% |
-55.33% |
34.45% |
125.88% |
EBIT Growth |
|
-22.37% |
-19.06% |
-170.55% |
103.41% |
2,590.54% |
-138.27% |
602.51% |
-62.53% |
63.88% |
153.04% |
NOPAT Growth |
|
-20.25% |
-19.66% |
-149.99% |
116.31% |
646.54% |
-128.81% |
748.86% |
-62.31% |
68.32% |
185.88% |
Net Income Growth |
|
-20.25% |
-19.99% |
-171.87% |
111.66% |
651.90% |
-137.23% |
613.69% |
-63.94% |
68.68% |
187.49% |
EPS Growth |
|
-17.15% |
-15.89% |
-197.24% |
100.00% |
0.00% |
-153.59% |
485.47% |
-67.39% |
78.67% |
207.21% |
Operating Cash Flow Growth |
|
-8.23% |
-48.59% |
-36.26% |
-95.84% |
1,747.25% |
72.61% |
248.67% |
-33.37% |
57.33% |
46.93% |
Free Cash Flow Firm Growth |
|
31.86% |
-93.29% |
351.03% |
49.53% |
-256.03% |
199.50% |
-7.03% |
69.44% |
-128.60% |
104.54% |
Invested Capital Growth |
|
-2.70% |
6.69% |
-6.95% |
-4.91% |
13.90% |
-9.14% |
0.64% |
-10.36% |
10.50% |
15.73% |
Revenue Q/Q Growth |
|
-1.73% |
1.18% |
6.26% |
-0.71% |
0.09% |
-1.65% |
3.67% |
0.00% |
0.00% |
0.00% |
EBITDA Q/Q Growth |
|
-6.75% |
0.05% |
-60.92% |
-56.27% |
97.35% |
-43.32% |
44.22% |
0.00% |
0.00% |
0.00% |
EBIT Q/Q Growth |
|
-5.92% |
0.10% |
-63.97% |
-94.44% |
153.72% |
-9.34% |
55.74% |
0.00% |
0.00% |
0.00% |
NOPAT Q/Q Growth |
|
-3.91% |
0.74% |
-63.97% |
-78.81% |
132.69% |
-7.07% |
56.15% |
0.00% |
0.00% |
0.00% |
Net Income Q/Q Growth |
|
-3.91% |
0.81% |
-91.54% |
-78.85% |
137.09% |
2.82% |
48.54% |
0.00% |
0.00% |
0.00% |
EPS Q/Q Growth |
|
-3.36% |
0.99% |
-58.33% |
-100.00% |
209.26% |
3.76% |
51.98% |
0.00% |
0.00% |
0.00% |
Operating Cash Flow Q/Q Growth |
|
-4.60% |
15.03% |
-42.84% |
-86.24% |
64.30% |
12.16% |
19.19% |
0.00% |
60.70% |
0.00% |
Free Cash Flow Firm Q/Q Growth |
|
-24.76% |
-88.22% |
-41.69% |
472.31% |
-896.95% |
1,182.55% |
3.68% |
-13.87% |
0.00% |
0.00% |
Invested Capital Q/Q Growth |
|
-3.56% |
2.35% |
3.77% |
-5.62% |
4.55% |
-4.60% |
-1.91% |
4.09% |
0.00% |
0.00% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
18.37% |
15.02% |
-5.53% |
4.34% |
8.95% |
-0.54% |
14.37% |
6.42% |
8.20% |
17.22% |
EBIT Margin |
|
15.42% |
12.80% |
-8.36% |
0.25% |
6.59% |
-2.76% |
12.34% |
4.63% |
7.20% |
16.94% |
Profit (Net Income) Margin |
|
15.34% |
12.60% |
-8.38% |
0.85% |
6.32% |
-2.57% |
11.76% |
4.25% |
6.80% |
18.18% |
Tax Burden Percent |
|
99.53% |
98.38% |
100.23% |
343.02% |
95.86% |
93.26% |
95.33% |
91.76% |
94.44% |
107.29% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.47% |
1.22% |
0.00% |
-235.10% |
7.02% |
0.00% |
9.61% |
9.06% |
6.60% |
-5.51% |
Return on Invested Capital (ROIC) |
|
9.21% |
7.26% |
-3.64% |
0.63% |
4.52% |
-1.28% |
8.71% |
3.45% |
5.84% |
14.75% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
9.21% |
7.06% |
-12.43% |
0.70% |
5.11% |
-3.13% |
11.04% |
3.60% |
6.13% |
15.91% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.71% |
1.20% |
-2.71% |
0.20% |
1.59% |
-0.94% |
2.84% |
0.99% |
1.76% |
4.31% |
Return on Equity (ROE) |
|
10.92% |
8.46% |
-6.35% |
0.83% |
6.12% |
-2.22% |
11.56% |
4.44% |
7.60% |
19.06% |
Cash Return on Invested Capital (CROIC) |
|
11.95% |
0.79% |
3.56% |
5.66% |
-8.47% |
8.29% |
8.07% |
14.38% |
-4.13% |
0.17% |
Operating Return on Assets (OROA) |
|
3.23% |
2.56% |
-1.62% |
0.05% |
1.36% |
-0.50% |
2.44% |
0.88% |
1.38% |
3.21% |
Return on Assets (ROA) |
|
3.21% |
2.52% |
-1.62% |
0.18% |
1.30% |
-0.47% |
2.32% |
0.81% |
1.30% |
3.45% |
Return on Common Equity (ROCE) |
|
10.87% |
8.46% |
-6.35% |
0.83% |
6.12% |
-2.22% |
10.96% |
3.95% |
6.76% |
17.21% |
Return on Equity Simple (ROE_SIMPLE) |
|
10.94% |
8.18% |
-6.91% |
0.86% |
5.83% |
-2.27% |
11.43% |
4.81% |
7.15% |
17.77% |
Net Operating Profit after Tax (NOPAT) |
|
642 |
515 |
-258 |
42 |
314 |
-90 |
587 |
221 |
372 |
1,064 |
NOPAT Margin |
|
15.34% |
12.65% |
-5.85% |
0.83% |
6.13% |
-1.93% |
11.15% |
4.21% |
6.72% |
17.88% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.20% |
8.79% |
-0.07% |
-0.59% |
1.84% |
-2.33% |
-0.14% |
-0.29% |
-1.17% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
84.58% |
87.20% |
108.36% |
99.75% |
93.41% |
102.76% |
87.66% |
95.16% |
92.71% |
82.89% |
Earnings before Interest and Taxes (EBIT) |
|
645 |
522 |
-368 |
13 |
337 |
-129 |
649 |
243 |
398 |
1,008 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
768 |
612 |
-243 |
219 |
458 |
-25 |
756 |
338 |
454 |
1,025 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.75 |
0.77 |
0.65 |
0.73 |
0.79 |
0.73 |
0.88 |
1.07 |
0.99 |
1.36 |
Price to Tangible Book Value (P/TBV) |
|
0.76 |
0.78 |
0.70 |
0.79 |
0.84 |
0.77 |
0.94 |
1.16 |
1.05 |
1.43 |
Price to Revenue (P/Rev) |
|
1.05 |
1.18 |
0.79 |
0.73 |
0.86 |
0.82 |
0.81 |
0.84 |
0.84 |
1.27 |
Price to Earnings (P/E) |
|
7.30 |
10.32 |
0.00 |
9,308.33 |
15.52 |
0.00 |
7.27 |
22.75 |
13.44 |
7.18 |
Dividend Yield |
|
2.77% |
2.72% |
3.69% |
3.58% |
3.10% |
3.61% |
3.37% |
3.38% |
3.26% |
1.99% |
Earnings Yield |
|
13.70% |
9.69% |
0.00% |
0.01% |
6.44% |
0.00% |
13.76% |
4.40% |
7.44% |
13.93% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.61 |
0.63 |
0.53 |
0.51 |
0.63 |
0.56 |
0.72 |
0.86 |
0.78 |
0.86 |
Enterprise Value to Revenue (EV/Rev) |
|
1.01 |
1.13 |
0.82 |
0.66 |
0.91 |
0.80 |
0.92 |
0.99 |
0.95 |
1.12 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
5.49 |
7.54 |
0.00 |
15.09 |
10.15 |
0.00 |
6.42 |
15.33 |
11.55 |
6.52 |
Enterprise Value to EBIT (EV/EBIT) |
|
6.54 |
8.85 |
0.00 |
263.90 |
13.77 |
0.00 |
7.48 |
21.29 |
13.16 |
6.63 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
6.57 |
8.96 |
0.00 |
78.75 |
14.81 |
0.00 |
8.27 |
23.41 |
14.09 |
6.28 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
5.33 |
11.36 |
13.90 |
307.24 |
23.36 |
10.95 |
4.05 |
6.49 |
4.18 |
3.62 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
5.07 |
82.74 |
14.31 |
8.79 |
0.00 |
6.44 |
8.93 |
5.62 |
0.00 |
559.03 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.17 |
0.17 |
0.28 |
0.29 |
0.33 |
0.27 |
0.25 |
0.30 |
0.27 |
0.27 |
Long-Term Debt to Equity |
|
0.17 |
0.16 |
0.26 |
0.27 |
0.33 |
0.25 |
0.24 |
0.30 |
0.27 |
0.23 |
Financial Leverage |
|
0.19 |
0.17 |
0.22 |
0.28 |
0.31 |
0.30 |
0.26 |
0.27 |
0.29 |
0.27 |
Leverage Ratio |
|
3.40 |
3.36 |
3.92 |
4.71 |
4.70 |
4.75 |
4.97 |
5.48 |
5.85 |
5.53 |
Compound Leverage Factor |
|
3.40 |
3.36 |
3.92 |
4.71 |
4.70 |
4.75 |
4.97 |
5.48 |
5.85 |
5.53 |
Debt to Total Capital |
|
14.58% |
14.40% |
21.66% |
22.42% |
24.93% |
21.08% |
19.88% |
23.35% |
21.31% |
21.33% |
Short-Term Debt to Total Capital |
|
0.14% |
0.85% |
1.48% |
1.72% |
0.45% |
1.56% |
0.47% |
0.33% |
0.39% |
3.48% |
Long-Term Debt to Total Capital |
|
14.44% |
13.55% |
20.19% |
20.70% |
24.48% |
19.52% |
19.41% |
23.02% |
20.92% |
17.85% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
8.14% |
9.09% |
8.22% |
7.11% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
85.42% |
85.60% |
78.34% |
77.58% |
75.07% |
78.92% |
71.98% |
67.56% |
70.46% |
71.56% |
Debt to EBITDA |
|
1.30 |
1.72 |
-6.07 |
6.63 |
4.02 |
-55.90 |
1.78 |
4.19 |
3.14 |
1.61 |
Net Debt to EBITDA |
|
-0.23 |
-0.30 |
-0.47 |
-1.72 |
0.58 |
3.51 |
0.03 |
0.71 |
0.09 |
-1.38 |
Long-Term Debt to EBITDA |
|
1.29 |
1.62 |
-5.66 |
6.12 |
3.95 |
-51.76 |
1.74 |
4.13 |
3.08 |
1.35 |
Debt to NOPAT |
|
1.56 |
2.05 |
-5.73 |
34.59 |
5.87 |
-15.65 |
2.29 |
6.39 |
3.83 |
1.55 |
Net Debt to NOPAT |
|
-0.27 |
-0.36 |
-0.44 |
-8.95 |
0.84 |
0.98 |
0.04 |
1.08 |
0.11 |
-1.33 |
Long-Term Debt to NOPAT |
|
1.55 |
1.93 |
-5.34 |
31.93 |
5.76 |
-14.49 |
2.24 |
6.30 |
3.76 |
1.30 |
Noncontrolling Interest Sharing Ratio |
|
0.50% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
5.14% |
10.94% |
11.11% |
9.69% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
832 |
56 |
252 |
377 |
-588 |
585 |
544 |
921 |
-263 |
12 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
16.33 |
1.09 |
4.59 |
5.58 |
-8.63 |
7.79 |
8.72 |
14.58 |
-3.85 |
0.18 |
Operating Cash Flow to Interest Expense |
|
15.53 |
7.92 |
4.73 |
0.16 |
2.92 |
4.58 |
19.22 |
12.64 |
18.35 |
27.22 |
Operating Cash Flow Less CapEx to Interest Expense |
|
15.53 |
7.92 |
4.73 |
0.16 |
2.92 |
4.58 |
19.22 |
12.64 |
18.35 |
27.22 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.21 |
0.20 |
0.19 |
0.21 |
0.21 |
0.18 |
0.20 |
0.19 |
0.19 |
0.19 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
6,868 |
7,328 |
6,818 |
6,484 |
7,385 |
6,710 |
6,753 |
6,053 |
6,689 |
7,741 |
Invested Capital Turnover |
|
0.60 |
0.57 |
0.62 |
0.76 |
0.74 |
0.66 |
0.78 |
0.82 |
0.87 |
0.82 |
Increase / (Decrease) in Invested Capital |
|
-191 |
460 |
-509 |
-335 |
901 |
-675 |
43 |
-700 |
635 |
1,052 |
Enterprise Value (EV) |
|
4,219 |
4,620 |
3,603 |
3,310 |
4,648 |
3,762 |
4,852 |
5,176 |
5,242 |
6,686 |
Market Capitalization |
|
4,392 |
4,806 |
3,490 |
3,686 |
4,383 |
3,851 |
4,277 |
4,388 |
4,651 |
7,548 |
Book Value per Share |
|
$60.86 |
$70.92 |
$64.23 |
$60.18 |
$66.03 |
$62.80 |
$57.34 |
$48.31 |
$55.29 |
$66.22 |
Tangible Book Value per Share |
|
$59.96 |
$69.96 |
$59.90 |
$56.07 |
$62.07 |
$59.00 |
$53.69 |
$44.78 |
$51.92 |
$63.32 |
Total Capital |
|
6,868 |
7,328 |
6,818 |
6,484 |
7,385 |
6,710 |
6,753 |
6,053 |
6,689 |
7,741 |
Total Debt |
|
1,001 |
1,056 |
1,477 |
1,454 |
1,841 |
1,414 |
1,343 |
1,413 |
1,426 |
1,651 |
Total Long-Term Debt |
|
992 |
993 |
1,377 |
1,342 |
1,808 |
1,310 |
1,311 |
1,394 |
1,400 |
1,382 |
Net Debt |
|
-173 |
-186 |
113 |
-376 |
265 |
-89 |
25 |
239 |
42 |
-1,412 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
0.00 |
2.09 |
111 |
-0.99 |
-9.72 |
30 |
-32 |
-2.00 |
-4.16 |
-18 |
Net Nonoperating Obligations (NNO) |
|
1,001 |
1,056 |
1,477 |
1,454 |
1,841 |
1,414 |
1,343 |
1,413 |
1,426 |
1,651 |
Total Depreciation and Amortization (D&A) |
|
124 |
90 |
125 |
207 |
120 |
104 |
107 |
94 |
55 |
17 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$6.10 |
$5.13 |
($4.94) |
$0.00 |
$3.37 |
($1.79) |
$6.95 |
$2.27 |
$4.06 |
$12.49 |
Adjusted Weighted Average Basic Shares Outstanding |
|
98.61M |
90.77M |
84.11M |
83.50M |
83.89M |
84.26M |
84.71M |
84.86M |
85.14M |
84.17M |
Adjusted Diluted Earnings per Share |
|
$6.04 |
$5.08 |
($4.94) |
$0.00 |
$3.34 |
($1.79) |
$6.90 |
$2.25 |
$4.02 |
$12.35 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
99.63M |
91.55M |
84.11M |
84.01M |
84.47M |
84.26M |
85.29M |
85.67M |
86.01M |
85.18M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$3.37 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
94.91M |
86.12M |
83.23M |
83.63M |
84.00M |
84.41M |
84.80M |
84.71M |
84.45M |
80.79M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
687 |
515 |
-239 |
56 |
349 |
-85 |
587 |
261 |
411 |
724 |
Normalized NOPAT Margin |
|
16.44% |
12.65% |
-5.43% |
1.10% |
6.81% |
-1.81% |
11.15% |
4.97% |
7.43% |
12.17% |
Pre Tax Income Margin |
|
15.42% |
12.80% |
-8.36% |
0.25% |
6.59% |
-2.76% |
12.34% |
4.63% |
7.20% |
16.94% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
12.65 |
10.16 |
-6.72 |
0.19 |
4.95 |
-1.72 |
10.42 |
3.85 |
5.82 |
14.88 |
NOPAT to Interest Expense |
|
12.59 |
10.04 |
-4.70 |
0.62 |
4.61 |
-1.20 |
9.41 |
3.50 |
5.44 |
15.70 |
EBIT Less CapEx to Interest Expense |
|
12.65 |
10.16 |
-6.72 |
0.19 |
4.95 |
-1.72 |
10.42 |
3.85 |
5.82 |
14.88 |
NOPAT Less CapEx to Interest Expense |
|
12.59 |
10.04 |
-4.70 |
0.62 |
4.61 |
-1.20 |
9.41 |
3.50 |
5.44 |
15.70 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
24.74% |
33.55% |
-50.92% |
409.40% |
55.59% |
-144.01% |
28.43% |
80.50% |
48.90% |
16.83% |
Augmented Payout Ratio |
|
73.71% |
130.05% |
-121.71% |
409.40% |
55.59% |
-144.01% |
28.43% |
96.19% |
48.90% |
35.31% |
Quarterly Metrics And Ratios for Axis Capital
This table displays calculated financial ratios and metrics derived from Axis Capital's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Q1 2025 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
0.57% |
-1.01% |
2.41% |
7.88% |
8.88% |
3.04% |
7.93% |
8.05% |
2.44% |
11.97% |
1.88% |
EBITDA Growth |
|
242.32% |
-60.20% |
28.28% |
255.70% |
1,861.67% |
-286.19% |
30.61% |
31.58% |
6.05% |
248.37% |
-13.07% |
EBIT Growth |
|
-104.95% |
-62.92% |
43.96% |
512.36% |
9,692.23% |
-331.58% |
36.04% |
38.88% |
8.22% |
243.79% |
-12.44% |
NOPAT Growth |
|
-103.56% |
-74.70% |
32.44% |
340.51% |
12,194.72% |
-352.20% |
116.28% |
37.35% |
-3.27% |
320.34% |
-51.36% |
Net Income Growth |
|
-117.08% |
-76.33% |
20.71% |
333.25% |
2,104.45% |
-394.04% |
119.58% |
40.68% |
-3.92% |
305.95% |
-50.93% |
EPS Growth |
|
-135.71% |
-79.22% |
21.82% |
421.88% |
1,150.00% |
-466.67% |
125.37% |
43.71% |
-2.86% |
292.05% |
-50.11% |
Operating Cash Flow Growth |
|
0.00% |
-163.44% |
80.45% |
4.28% |
0.00% |
309.67% |
59.68% |
30.59% |
0.00% |
42.53% |
-19.54% |
Free Cash Flow Firm Growth |
|
457.11% |
367.67% |
-33.16% |
-120.56% |
462.02% |
-201.87% |
-286.46% |
-211.37% |
-223.69% |
-0.01% |
119.74% |
Invested Capital Growth |
|
-15.53% |
-10.36% |
-1.86% |
4.84% |
0.00% |
10.50% |
14.93% |
10.41% |
0.00% |
15.73% |
1.08% |
Revenue Q/Q Growth |
|
8.80% |
0.16% |
-2.28% |
1.82% |
0.00% |
-4.53% |
1.84% |
1.94% |
0.00% |
4.35% |
-7.34% |
EBITDA Q/Q Growth |
|
354.02% |
-59.67% |
119.72% |
-10.39% |
0.00% |
-138.03% |
252.07% |
-9.73% |
0.00% |
-46.79% |
-10.90% |
EBIT Q/Q Growth |
|
-107.60% |
3,765.98% |
151.28% |
-11.13% |
0.00% |
-188.50% |
245.23% |
-9.28% |
0.00% |
17.59% |
-11.56% |
NOPAT Q/Q Growth |
|
-104.54% |
3,466.26% |
253.75% |
-18.50% |
0.00% |
-170.19% |
403.38% |
-48.25% |
0.00% |
59.89% |
-33.03% |
Net Income Q/Q Growth |
|
-126.98% |
616.72% |
271.42% |
-16.34% |
0.00% |
-175.80% |
377.37% |
-46.40% |
0.00% |
62.47% |
-33.91% |
EPS Q/Q Growth |
|
-162.50% |
340.00% |
318.75% |
-16.92% |
0.00% |
-183.81% |
357.39% |
-47.02% |
0.00% |
65.69% |
-33.14% |
Operating Cash Flow Q/Q Growth |
|
0.00% |
0.00% |
302.20% |
64.92% |
0.00% |
0.00% |
54.00% |
34.87% |
0.00% |
0.00% |
-13.07% |
Free Cash Flow Firm Q/Q Growth |
|
44.57% |
-29.62% |
-59.54% |
-149.94% |
0.00% |
-112.76% |
25.94% |
16.61% |
0.00% |
89.69% |
114.62% |
Invested Capital Q/Q Growth |
|
-6.22% |
4.09% |
6.35% |
1.00% |
0.00% |
0.00% |
10.61% |
-2.98% |
0.00% |
1.83% |
-3.39% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
17.76% |
7.15% |
15.95% |
14.03% |
32.44% |
-12.92% |
19.30% |
17.09% |
33.58% |
17.12% |
16.47% |
EBIT Margin |
|
-0.16% |
5.90% |
15.00% |
13.09% |
14.30% |
-13.26% |
18.90% |
16.82% |
15.11% |
17.02% |
16.25% |
Profit (Net Income) Margin |
|
-0.69% |
3.57% |
13.63% |
11.20% |
12.82% |
-10.18% |
27.73% |
14.58% |
12.03% |
18.72% |
13.36% |
Tax Burden Percent |
|
429.08% |
61.48% |
90.87% |
85.55% |
89.66% |
76.79% |
146.66% |
86.65% |
79.61% |
109.99% |
82.20% |
Interest Burden Percent |
|
100.00% |
98.38% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
34.66% |
8.02% |
15.65% |
11.74% |
0.00% |
-46.23% |
16.58% |
21.11% |
-7.27% |
18.77% |
Return on Invested Capital (ROIC) |
|
0.00% |
3.11% |
0.00% |
0.00% |
0.00% |
-8.06% |
22.54% |
11.79% |
0.00% |
15.06% |
10.61% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
2.89% |
0.00% |
0.00% |
0.00% |
-8.95% |
22.61% |
12.32% |
0.00% |
15.54% |
10.74% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
0.79% |
0.00% |
0.00% |
0.00% |
-2.57% |
7.28% |
3.46% |
0.00% |
4.21% |
3.27% |
Return on Equity (ROE) |
|
0.00% |
3.90% |
0.00% |
0.00% |
0.00% |
-10.63% |
29.82% |
15.25% |
0.00% |
19.27% |
13.87% |
Cash Return on Invested Capital (CROIC) |
|
16.84% |
14.38% |
1.87% |
-4.73% |
0.00% |
-4.13% |
-5.45% |
-0.54% |
0.00% |
0.17% |
10.51% |
Operating Return on Assets (OROA) |
|
0.00% |
1.13% |
0.00% |
0.00% |
0.00% |
-2.53% |
3.53% |
3.15% |
0.00% |
3.23% |
2.99% |
Return on Assets (ROA) |
|
0.00% |
0.68% |
0.00% |
0.00% |
0.00% |
-1.95% |
5.18% |
2.73% |
0.00% |
3.55% |
2.46% |
Return on Common Equity (ROCE) |
|
0.00% |
3.48% |
0.00% |
0.00% |
0.00% |
-9.45% |
26.68% |
13.68% |
0.00% |
17.41% |
12.53% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
10.75% |
11.54% |
0.00% |
0.00% |
14.91% |
Net Operating Profit after Tax (NOPAT) |
|
-1.53 |
52 |
182 |
149 |
185 |
-130 |
394 |
204 |
179 |
286 |
192 |
NOPAT Margin |
|
-0.11% |
3.79% |
13.79% |
11.04% |
12.62% |
-9.28% |
27.64% |
14.03% |
11.92% |
18.26% |
13.20% |
Net Nonoperating Expense Percent (NNEP) |
|
0.52% |
0.22% |
0.15% |
-0.14% |
0.00% |
0.89% |
-0.07% |
-0.53% |
-0.21% |
-0.47% |
-0.13% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
99.92% |
94.10% |
84.79% |
86.94% |
85.77% |
112.98% |
81.42% |
82.29% |
84.82% |
82.92% |
83.56% |
Earnings before Interest and Taxes (EBIT) |
|
-2.19 |
80 |
198 |
176 |
210 |
-186 |
270 |
245 |
227 |
267 |
236 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
241 |
97 |
211 |
189 |
476 |
-181 |
275 |
248 |
505 |
269 |
239 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.90 |
1.07 |
1.02 |
1.00 |
0.00 |
0.99 |
1.11 |
1.17 |
1.22 |
1.36 |
1.54 |
Price to Tangible Book Value (P/TBV) |
|
0.97 |
1.16 |
1.09 |
1.07 |
0.00 |
1.05 |
1.18 |
1.24 |
1.29 |
1.43 |
1.62 |
Price to Revenue (P/Rev) |
|
0.00 |
0.84 |
0.00 |
0.00 |
0.00 |
0.84 |
0.98 |
1.04 |
0.00 |
1.27 |
1.38 |
Price to Earnings (P/E) |
|
0.00 |
22.75 |
0.00 |
0.00 |
0.00 |
13.44 |
9.81 |
9.63 |
0.00 |
7.18 |
9.71 |
Dividend Yield |
|
3.71% |
3.38% |
3.33% |
3.37% |
3.21% |
3.26% |
3.42% |
2.51% |
2.21% |
1.99% |
1.76% |
Earnings Yield |
|
0.00% |
4.40% |
0.00% |
0.00% |
0.00% |
7.44% |
10.20% |
10.39% |
0.00% |
13.93% |
10.30% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.61 |
0.86 |
0.83 |
0.77 |
0.00 |
0.78 |
0.83 |
0.89 |
0.97 |
0.86 |
0.94 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
0.99 |
0.00 |
0.00 |
0.00 |
0.95 |
1.08 |
1.11 |
0.00 |
1.12 |
1.18 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
15.33 |
66.34 |
0.00 |
0.00 |
11.55 |
11.78 |
11.09 |
0.00 |
6.52 |
7.13 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
21.29 |
0.00 |
0.00 |
0.00 |
13.16 |
13.00 |
11.90 |
0.00 |
6.63 |
7.23 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
23.41 |
0.00 |
0.00 |
0.00 |
14.09 |
10.46 |
10.02 |
0.00 |
6.28 |
8.19 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
6.49 |
5.89 |
0.00 |
0.00 |
4.18 |
4.37 |
4.21 |
0.00 |
3.62 |
3.98 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
3.33 |
5.62 |
43.79 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
559.03 |
9.02 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.34 |
0.30 |
0.30 |
0.29 |
0.00 |
0.27 |
0.34 |
0.27 |
0.25 |
0.27 |
0.27 |
Long-Term Debt to Equity |
|
0.32 |
0.30 |
0.28 |
0.28 |
0.00 |
0.27 |
0.25 |
0.25 |
0.23 |
0.23 |
0.23 |
Financial Leverage |
|
0.31 |
0.27 |
0.29 |
0.31 |
0.00 |
0.29 |
0.32 |
0.28 |
0.25 |
0.27 |
0.30 |
Leverage Ratio |
|
5.69 |
5.48 |
5.59 |
5.86 |
0.00 |
5.85 |
5.76 |
5.75 |
5.38 |
5.53 |
5.70 |
Compound Leverage Factor |
|
5.69 |
5.39 |
5.59 |
5.86 |
0.00 |
5.85 |
5.76 |
5.75 |
5.38 |
5.53 |
5.70 |
Debt to Total Capital |
|
25.31% |
23.35% |
22.95% |
22.77% |
0.00% |
21.31% |
25.59% |
21.16% |
19.97% |
21.33% |
21.07% |
Short-Term Debt to Total Capital |
|
1.36% |
0.33% |
1.22% |
1.26% |
0.00% |
0.39% |
6.67% |
1.65% |
1.68% |
3.48% |
2.59% |
Long-Term Debt to Total Capital |
|
23.96% |
23.02% |
21.72% |
21.51% |
0.00% |
20.92% |
18.92% |
19.51% |
18.29% |
17.85% |
18.48% |
Preferred Equity to Total Capital |
|
0.00% |
9.09% |
8.54% |
8.46% |
0.00% |
8.22% |
7.43% |
7.66% |
7.24% |
7.11% |
7.35% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
74.69% |
67.56% |
68.51% |
68.77% |
0.00% |
70.46% |
66.97% |
71.18% |
72.79% |
71.56% |
71.58% |
Debt to EBITDA |
|
0.00 |
4.19 |
18.38 |
0.00 |
0.00 |
3.14 |
3.65 |
2.63 |
0.00 |
1.61 |
1.59 |
Net Debt to EBITDA |
|
0.00 |
0.71 |
3.71 |
0.00 |
0.00 |
0.09 |
0.10 |
-0.24 |
0.00 |
-1.38 |
-1.78 |
Long-Term Debt to EBITDA |
|
0.00 |
4.13 |
17.40 |
0.00 |
0.00 |
3.08 |
2.70 |
2.42 |
0.00 |
1.35 |
1.40 |
Debt to NOPAT |
|
0.00 |
6.39 |
0.00 |
0.00 |
0.00 |
3.83 |
3.24 |
2.37 |
0.00 |
1.55 |
1.83 |
Net Debt to NOPAT |
|
0.00 |
1.08 |
0.00 |
0.00 |
0.00 |
0.11 |
0.09 |
-0.21 |
0.00 |
-1.33 |
-2.04 |
Long-Term Debt to NOPAT |
|
0.00 |
6.30 |
0.00 |
0.00 |
0.00 |
3.76 |
2.40 |
2.19 |
0.00 |
1.30 |
1.60 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
10.94% |
5.46% |
5.66% |
0.00% |
11.11% |
10.51% |
10.30% |
0.00% |
9.69% |
9.64% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
1,068 |
751 |
304 |
-152 |
6,001 |
-765 |
-567 |
-473 |
-7,422 |
-766 |
112 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
67.09 |
45.74 |
18.00 |
-9.07 |
364.90 |
-41.73 |
-33.06 |
-27.79 |
-440.51 |
-45.67 |
6.75 |
Operating Cash Flow to Interest Expense |
|
0.00 |
-7.24 |
14.24 |
23.70 |
0.00 |
13.60 |
22.40 |
30.46 |
0.00 |
21.21 |
18.65 |
Operating Cash Flow Less CapEx to Interest Expense |
|
0.00 |
-7.24 |
14.24 |
23.70 |
0.00 |
13.60 |
22.40 |
30.46 |
0.00 |
21.21 |
18.65 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.00 |
0.19 |
0.00 |
0.00 |
0.00 |
0.19 |
0.19 |
0.19 |
0.00 |
0.19 |
0.18 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
5,816 |
6,053 |
6,437 |
6,502 |
0.00 |
6,689 |
7,399 |
7,178 |
7,601 |
7,741 |
7,478 |
Invested Capital Turnover |
|
0.00 |
0.82 |
0.00 |
0.00 |
0.00 |
0.87 |
0.82 |
0.84 |
0.00 |
0.82 |
0.80 |
Increase / (Decrease) in Invested Capital |
|
-1,069 |
-700 |
-122 |
300 |
-5,816 |
635 |
961 |
677 |
7,601 |
1,052 |
80 |
Enterprise Value (EV) |
|
3,558 |
5,176 |
5,332 |
4,975 |
0.00 |
5,242 |
6,108 |
6,409 |
7,364 |
6,686 |
7,050 |
Market Capitalization |
|
3,921 |
4,388 |
4,484 |
4,462 |
4,725 |
4,651 |
5,507 |
5,995 |
6,767 |
7,548 |
8,258 |
Book Value per Share |
|
$51.31 |
$48.31 |
$52.06 |
$52.48 |
$0.00 |
$55.29 |
$58.38 |
$60.35 |
$65.92 |
$66.22 |
$66.26 |
Tangible Book Value per Share |
|
$47.75 |
$44.78 |
$48.57 |
$49.04 |
$0.00 |
$51.92 |
$55.02 |
$57.02 |
$62.59 |
$63.32 |
$63.29 |
Total Capital |
|
5,816 |
6,053 |
6,437 |
6,502 |
0.00 |
6,689 |
7,399 |
7,178 |
7,601 |
7,741 |
7,478 |
Total Debt |
|
1,472 |
1,413 |
1,477 |
1,481 |
0.00 |
1,426 |
1,893 |
1,519 |
1,518 |
1,651 |
1,576 |
Total Long-Term Debt |
|
1,393 |
1,394 |
1,398 |
1,399 |
0.00 |
1,400 |
1,400 |
1,400 |
1,390 |
1,382 |
1,382 |
Net Debt |
|
-363 |
239 |
298 |
-38 |
0.00 |
42 |
52 |
-136 |
47 |
-1,412 |
-1,757 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
7.85 |
3.05 |
2.21 |
-2.10 |
-2.94 |
13 |
-1.17 |
-7.90 |
-1.62 |
-7.26 |
-2.29 |
Net Nonoperating Obligations (NNO) |
|
1,472 |
1,413 |
1,477 |
1,481 |
0.00 |
1,426 |
1,893 |
1,519 |
1,518 |
1,651 |
1,576 |
Total Depreciation and Amortization (D&A) |
|
243 |
17 |
13 |
13 |
266 |
4.66 |
5.63 |
3.88 |
278 |
1.59 |
3.17 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
($0.20) |
$0.48 |
$2.03 |
$1.68 |
$0.00 |
($1.77) |
$4.57 |
$2.42 |
$2.06 |
$3.44 |
$2.30 |
Adjusted Weighted Average Basic Shares Outstanding |
|
84.66M |
84.86M |
84.86M |
85.21M |
0.00 |
85.14M |
84.88M |
84.48M |
83.94M |
84.17M |
81.15M |
Adjusted Diluted Earnings per Share |
|
($0.20) |
$0.48 |
$2.01 |
$1.67 |
$0.00 |
($1.76) |
$4.53 |
$2.40 |
$2.04 |
$3.38 |
$2.26 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
84.66M |
85.67M |
85.85M |
85.81M |
0.00 |
86.01M |
85.69M |
85.33M |
85M |
85.18M |
82.38M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
84.67M |
84.71M |
85.20M |
85.22M |
0.00 |
84.45M |
84.66M |
84.18M |
83.66M |
80.79M |
78.65M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
7.36 |
52 |
182 |
156 |
211 |
-127 |
197 |
216 |
179 |
187 |
193 |
Normalized NOPAT Margin |
|
0.54% |
3.79% |
13.79% |
11.61% |
14.37% |
-9.10% |
13.84% |
14.85% |
11.92% |
11.93% |
13.31% |
Pre Tax Income Margin |
|
-0.16% |
5.80% |
15.00% |
13.09% |
14.30% |
-13.26% |
18.90% |
16.82% |
15.11% |
17.02% |
16.25% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-0.14 |
4.88 |
11.73 |
10.52 |
12.76 |
-10.12 |
15.73 |
14.38 |
13.47 |
15.93 |
14.25 |
NOPAT to Interest Expense |
|
-0.10 |
3.14 |
10.79 |
8.88 |
11.26 |
-7.09 |
22.99 |
12.00 |
10.63 |
17.09 |
11.57 |
EBIT Less CapEx to Interest Expense |
|
-0.14 |
4.88 |
11.73 |
10.52 |
0.00 |
-10.12 |
15.73 |
14.38 |
0.00 |
15.93 |
14.25 |
NOPAT Less CapEx to Interest Expense |
|
-0.10 |
3.14 |
10.79 |
8.88 |
0.00 |
-7.09 |
22.99 |
12.00 |
0.00 |
17.09 |
11.57 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
80.50% |
0.00% |
0.00% |
0.00% |
48.90% |
31.08% |
28.11% |
0.00% |
16.83% |
20.60% |
Augmented Payout Ratio |
|
0.00% |
96.19% |
0.00% |
0.00% |
0.00% |
48.90% |
41.50% |
43.42% |
0.00% |
35.31% |
86.29% |
Key Financial Trends
Over the past four years, Axis Capital (NYSE: AXS) has demonstrated notable financial trends and operational performance across its income statements, cash flow statements, and balance sheets.
Positive Highlights:
- Axis Capital has consistently generated substantial premiums earned, growing from about $1.23 billion in Q1 2023 to $1.34 billion in Q1 2025, highlighting strong revenue generation from underwriting activities.
- Net realized and unrealized capital gains on investments exhibited an overall upward trend, with $107.7 million in Q1 2023 increasing to $125.3 million in Q1 2025, contributing to non-interest income growth.
- The company maintains a strong cash position with cash and equivalents growing from approximately $817 million in Q1 2023 to $2.76 billion in Q1 2025, illustrating improved liquidity.
- Net cash from operating activities remains robust, consistently contributing healthy cash inflows, such as $240 million in Q1 2023 rising to $309 million in Q1 2025, supporting ongoing operations.
- Axis Capital has been actively managing its capital structure, repurchasing common equity significantly in recent quarters (e.g., $440 million repurchased in Q1 2025), which could enhance shareholder value.
- The company has reported positive net income in most quarters since early 2023, with Q1 2025 showing $186.5 million attributable to common shareholders, indicating profitability recovery following losses in late 2023.
- Total assets increased from approximately $28.56 billion in Q1 2023 to $33.25 billion in Q1 2025, reflecting asset growth, primarily within trading account securities and unearned premiums assets.
Neutral Observations:
- Long-term debt levels have remained fairly stable around $1.3-$1.4 billion over the period, showing steady leverage but no aggressive debt reduction or increase.
- Amortization and depreciation expenses are consistently significant but relatively stable, affecting reported profitability without marked volatility.
- The company’s weighted average diluted shares outstanding fluctuated slightly, reflecting share repurchases and issuances, but overall figures remained around 80-85 million shares.
Negative Factors:
- Net interest income has been negative consistently, with net interest expense close to $17 million quarterly, reflecting ongoing financing costs that reduce net income.
- Total non-interest expenses remain high, exceeding $1.1 billion quarterly, driven largely by property and liability insurance claims and amortization expenses, pressuring operating margins.
- The company faced net losses in Q4 2023 with a consolidated net loss of approximately $143 million and negative earnings per share of around $1.76, indicating volatility and challenges during that period.
- Provision for credit losses showed fluctuations, with notable increases reaching $13 million in Q2 2024 from relatively low or negative amounts in earlier quarters, which could point to worsening credit risk.
- Significant impairment charges appeared intermittently, such as $12.3 million in Q1 2024 and smaller charges in other quarters, negatively impacting earnings consistency.
- Claims and claim expenses have increased substantially, from approximately $15.3 billion in Q1 2023 to about $17.5 billion in Q1 2025, suggesting rising insurance liabilities that may challenge profitability.
In summary, Axis Capital demonstrates solid premium growth, improved liquidity, and a recovery in profitability after a difficult Q4 2023. However, consistent net interest expenses, rising claim costs, and intermittent impairments warrant attention. Investors should weigh the company's revenue strength and cash flow generation against these cost pressures and past quarterly volatility when considering Axis Capital for investment.
10/05/25 03:43 PM ETAI Generated. May Contain Errors.