AXIS Capital Holdings Limited (AXS) 10-Year Financial Performance & Capital Metrics

AXS • • Insurance & Managed Care

Financial ServicesProperty & Casualty InsuranceSpecialty & Excess Lines InsuranceProfessional & Management Liability

AboutAXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products worldwide. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers property insurance products for commercial buildings, residential premises, construction projects, and onshore energy installations; marine insurance products covering offshore energy, cargo, liability, recreational marine, fine art, specie, and hull war; and terrorism, aviation, credit and political risk, and liability insurance products. It also provides professional insurance products that cover directors' and officers' liability, errors and omissions liability, employment practices liability, fiduciary liability, crime, professional indemnity, cyber and privacy, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers. In addition, this segment offers accidental death, travel, and specialty health products for employer and affinity groups. The Reinsurance segment offers reinsurance products to insurance companies, including catastrophe reinsurance products; property reinsurance products covering property damage and related losses resulting from natural and man-made perils; professional lines; credit and surety; and motor liability products. This segment also provides agriculture reinsurance products; coverages for various types of construction risks and risks related to erection, testing, and commissioning of machinery and plants during the construction stage; marine and aviation reinsurance products; and personal accident, specialty health, accidental death, travel, life and disability reinsurance products. The company was founded in 2001 and is headquartered in Pembroke, Bermuda.Show more

Revenue $6.02B +7.7%
Combined Ratio 83.25% -10.4%
Net Income $1.08B +187.5%
Return on Equity 19.06% +150.8%
Medical Cost Ratio 70.26% -10.6%
Operating Margin 16.75% +135.0%
Net Margin 17.97% +167.0%
ROA 3.45% +165.3%
Equity / Assets 18.72% +7.6%
Book Value per Share 71.49 +16.8%
Tangible BV/Share 68.65 +18.7%
Debt/Equity 0.24 -15.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Profitable underwriting: 83.2% combined ratio
✓Strong 5Y profit CAGR of 27.3%
✓Strong Piotroski F-Score: 8/9
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.06%

5Y3.03%

3Y4.19%

TTM7.47%

Profit (Net Income) CAGR

10Y2.93%

5Y27.31%

3Y20.48%

TTM56.9%

EPS CAGR

10Y5.41%

5Y29.89%

3Y21.42%

TTM68.79%

ROCE

10Y Avg2.05%

5Y Avg1.48%

3Y Avg1.82%

Latest3.21%

Peer Comparison

Professional & Management Liability

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
STCStewart Information Services Corporation	2.01B	66.64	25.53	10.33%	3.29%	6.07%	4.73%	0.40
BOWBowhead Specialty Holdings Inc.	831.05M	25.35	19.65	50.16%	10.12%	12.21%	35.04%
AXSAXIS Capital Holdings Limited	7.73B	100.34	8.12	7.66%	16.11%	15.91%	23.87%	0.24

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	4.23B	4.13B	4.44B	5.12B	5.19B	4.76B	5.32B	5.3B	5.59B	6.02B
Revenue Growth %	-0.05%	-0.02%	0.08%	0.15%	0.01%	-0.08%	0.12%	-0%	0.05%	0.08%
Medical Costs & Claims+	2.89B	2.95B	4.11B	4.16B	4.07B	4.21B	3.93B	4.26B	4.39B	4.23B
Medical Cost Ratio %	-	-	-	-	-	-	-	-	-	-
Gross Profit+	1.34B	1.18B	330.45M	960.45M	1.12B	550.44M	1.39B	1.04B	1.2B	1.79B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.12%	-0.12%	-0.72%	1.91%	0.16%	-0.51%	1.53%	-0.25%	0.15%	0.5%
Operating Expenses+	693.65M	654.08M	698.56M	947.91M	778.64M	679.57M	741.87M	797.25M	798.03M	781.53M
OpEx / Revenue %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	26.34M	24.57M	31.37M	9.79M	75.23M	65.8M	66.98M	68.29M	75.55M	55.31M
Combined Ratio %	-	-	-	-	-	-	-	-	-	-
Operating Income+	644.66M	521.8M	-368.11M	12.54M	337.45M	-129.13M	648.91M	243.13M	398.44M	1.01B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.22%	-0.19%	-1.71%	1.03%	25.91%	-1.38%	6.03%	-0.63%	0.64%	1.53%
EBITDA+	671M	546.38M	-336.74M	22.34M	412.68M	-63.34M	715.89M	311.41M	474M	1.06B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense	50.96M	51.36M	54.81M	67.43M	68.11M	75.05M	62.3M	63.15M	68.42M	67.77M
Non-Operating Income	-50.96M	-51.36M	-54.81M	-67.43M	-68.11M	-75.05M	-62.3M	-63.15M	-68.42M	-67.77M
Pretax Income+	644.66M	521.8M	-368.11M	12.54M	337.45M	-132.75M	680.99M	245.12M	402.61M	1.03B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	3.03M	6.34M	-7.54M	-29.49M	23.69M	-12.32M	62.38M	22.04M	26.32M	-55.59M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	641.63M	513.37M	-368.97M	43.02M	323.47M	-120.42M	618.61M	223.08M	376.29M	1.08B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.21%	-0.2%	-1.72%	1.12%	6.52%	-1.37%	6.14%	-0.64%	0.69%	1.87%
EPS (Diluted)+	6.04	5.08	-4.39	0.51	3.34	-1.79	6.90	2.25	4.02	12.35
EPS Growth %	-0.17%	-0.16%	-1.86%	1.12%	5.55%	-1.54%	4.85%	-0.67%	0.79%	2.07%
EPS (Basic)	6.10	5.13	-4.39	0.52	3.37	-1.79	6.95	2.27	4.06	12.49
Diluted Shares Outstanding	99.63M	91.55M	84.11M	84.01M	84.47M	84.26M	85.29M	85.67M	86.01M	85.18M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	19.98B	20.81B	24.76B	24.13B	25.6B	25.88B	27.37B	27.68B	30.25B	32.52B
Asset Growth %	0%	0.04%	0.19%	-0.03%	0.06%	0.01%	0.06%	0.01%	0.09%	0.08%
Total Investment Assets+	13.38B	13.46B	14.78B	13.16B	14.3B	14.26B	15.13B	14.44B	15.57B	15.29B
Long-Term Investments	12.35B	12.28B	13.45B	12.07B	13.1B	12.84B	13.59B	12.73B	13.7B	13.61B
Short-Term Investments	12.35B	12.16B	13.34B	11.58B	5.12B	5.11B	4.67B	4.19B	4.35B	4.78B
Total Current Assets+	16.33B	16.81B	18.75B	17.4B	0	0	0	0	0	0
Cash & Equivalents	1.17B	1.24B	1.36B	1.83B	1.24B	902.83M	844.59M	751.41M	953.48M	2.14B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	-17.9B	-18.5B	-20.91B	-20.73B	-14.86B	-14.94B	-15.24B	-15.71B	-17.3B	-19.53B
Goodwill & Intangibles+	86.86M	85.05M	359.99M	343.57M	341.55M	324.29M	309.52M	298.6M	287.68M	242.47M
Goodwill	47.15M	47.15M	102M	102M	102M	100.8M	100.8M	100.8M	100.8M	66.5M
Intangible Assets	39.71M	37.9M	257.99M	241.57M	239.54M	223.49M	208.72M	197.8M	186.88M	175.97M
PP&E (Net)	0	0	0	0	111.09M	123.58M	103.3M	92.21M	108.09M	92.52M
Other Assets	-8.79B	-8.36B	-7.79B	-5.68B	-13.55B	-13.28B	-14.01B	-13.12B	-14.1B	-13.94B
Total Liabilities	14.12B	14.54B	19.42B	19.1B	20.06B	20.58B	21.96B	23.04B	24.99B	26.43B
Total Debt+	991.83M	992.95M	1.38B	1.34B	1.92B	1.45B	1.43B	1.5B	1.52B	1.49B
Net Debt	-182.93M	-248.56M	12.74M	-488.06M	682.63M	547.13M	585.89M	744.86M	569.13M	-655.3M
Long-Term Debt	991.83M	992.95M	1.38B	1.34B	1.81B	1.31B	1.31B	1.39B	1.4B	1.38B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Total Current Liabilities+	13.12B	13.55B	18.04B	18.01B	0	0	0	0	0	0
Accounts Payable	356.42M	493.18M	899.06M	1.34B	1.35B	1.09B	1.32B	1.61B	1.79B	1.71B
Deferred Revenue	0	0	-1.38B	-1.34B	0	0	0	0	0	0
Other Current Liabilities	-365.77M	-555.73M	-999.65M	-1.45B	-1.38B	-1.2B	-1.36B	-1.63B	-1.82B	-1.98B
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Liabilities	13.12B	13.55B	18.04B	17.76B	-1.92B	-1.45B	-1.43B	-1.5B	-1.52B	-1.49B
Total Equity+	5.87B	6.27B	5.34B	5.03B	5.54B	5.3B	5.41B	4.64B	5.26B	6.09B
Equity Growth %	-0%	0.07%	-0.15%	-0.06%	0.1%	-0.04%	0.02%	-0.14%	0.13%	0.16%
Shareholders Equity	5.87B	6.27B	5.34B	5.03B	5.54B	5.3B	5.41B	4.64B	5.26B	6.09B
Minority Interest	0	0	0	0	0	0	0	0	0	0
Retained Earnings	6.19B	6.53B	5.98B	5.91B	6.06B	5.76B	6.2B	6.25B	6.44B	7.34B
Common Stock	2.2M	2.21M	2.21M	2.21M	2.21M	2.21M	2.21M	2.21M	2.21M	2.21M
Accumulated OCI	-188.47M	-121.84M	92.38M	-177.11M	171.71M	414.39M	56.54M	-760.3M	-365.84M	-267.56M
Return on Equity (ROE)	0.11%	0.08%	-0.06%	0.01%	0.06%	-0.02%	0.12%	0.04%	0.08%	0.19%
Return on Assets (ROA)	0.03%	0.03%	-0.02%	0%	0.01%	-0%	0.02%	0.01%	0.01%	0.03%
Equity / Assets	-	-	-	-	-	-	-	-	-	-
Debt / Equity	0.17x	0.16x	0.26x	0.27x	0.35x	0.27x	0.26x	0.32x	0.29x	0.24x
Book Value per Share	58.89	68.52	63.50	59.88	65.63	62.85	63.44	54.16	61.19	71.49
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	791.2M	406.72M	259.23M	10.77M	199M	343.5M	1.11B	692.22M	1.26B	1.84B
Operating CF Growth %	-0.08%	-0.49%	-0.36%	-0.96%	17.47%	0.73%	2.25%	-0.38%	0.81%	0.47%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	641.63M	513.37M	-368.97M	43.02M	323.47M	-120.42M	618.61M	223.08M	376.29M	1.08B
Depreciation & Amortization	26.34M	24.57M	81.47M	9.79M	75.23M	65.8M	66.98M	68.29M	75.55M	55.31M
Stock-Based Compensation	43.05M	52.21M	12.67M	34.35M	32.49M	29M	37.74M	48.49M	54.12M	42.73M
Deferred Taxes	0	0	0	124.3M	-148.53M	-108.69M	-310.85M	0	0	0
Other Non-Cash Items	215.57M	89.87M	-40.19M	172.33M	26.72M	5.14M	3.85M	425.18M	30.62M	40.59M
Working Capital Changes	-135.39M	-273.3M	574.25M	-373.02M	-110.38M	472.67M	698.49M	-72.82M	718.98M	624.4M
Cash from Investing+	-225.7M	-144.43M	178.36M	638.55M	-774.32M	489.92M	-1.11B	-655.8M	-855.61M	280.45M
Capital Expenditures	0	-143.41M	25.36M	-25.1M	-63.11M	-44.66M	-38.73M	-36.83M	0	0
Acquisitions	0	-107.91M	-467.94M	0	63.11M	44.66M	38.73M	36.83M	-22.18M	0
Purchase of Investments	-11.53B	-9.86B	-9.02B	-9.02B	-10.45B	-11.14B	-12.89B	-8.15B	-6.81B	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Investing	-210.28M	-42.54M	-255.83M	1.81M	-196.88M	-204.8M	-38.94M	-69.49M	-369.48M	-11.3B
Cash from Financing+	-487.01M	-201.59M	-545.69M	-186.21M	277.51M	-908.8M	-186.09M	-149.62M	-202.37M	-417.29M
Dividends Paid	-158.74M	-172.23M	-187.88M	-176.13M	-179.83M	-173.42M	-175.85M	-179.59M	-184.03M	-182.01M
Share Repurchases	-332.25M	-561.52M	-285.86M	-10.08M	-10.16M	-10.38M	-10.24M	-34.99M	0	-199.94M
Stock Issued	3.99M	224K	346.36M	0	10.16M	0	0	0	0	0
Debt Issuance (Net)	0	0	1000K	0	1000K	-1000K	0	1000K	1000K	-1000K
Other Financing	0	480.4M	0	-10.08M	-10.16M	-225M	0	-13.99M	-23.6M	-15.93M
Net Change in Cash+	66.3M	51.36M	-90.87M	466.23M	-253.56M	-73.22M	-185.54M	-143.04M	209.33M	1.68B
Exchange Rate Effect	-1000K	-1000K	1000K	1000K	1000K	1000K	-74K	-1000K	1000K	-1000K
Cash at Beginning	921.83M	988.13M	1.04B	1.36B	1.83B	1.58B	1.5B	1.32B	1.17B	1.38B
Cash at End	988.13M	1.04B	948.63M	1.83B	1.58B	1.5B	1.32B	1.17B	1.38B	3.06B
Free Cash Flow+	791.2M	263.31M	284.59M	-14.33M	135.9M	298.84M	1.08B	655.39M	1.26B	1.84B
FCF Growth %	-0.08%	-0.67%	0.08%	-1.05%	10.48%	1.2%	2.6%	-0.39%	0.92%	0.47%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF per Share	7.94	2.88	3.38	-0.17	1.61	3.55	12.62	7.65	14.6	21.66

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Combined Ratio	84.77%	87.36%	108.29%	99.76%	93.49%	102.71%	87.81%	95.42%	92.87%	83.25%
Medical Cost Ratio	68.38%	71.51%	92.56%	81.24%	78.48%	88.44%	73.86%	80.39%	78.6%	70.26%
Return on Equity (ROE)	10.92%	8.46%	-6.35%	0.83%	6.12%	-2.22%	11.56%	4.44%	7.6%	19.06%
Return on Assets (ROA)	3.21%	2.52%	-1.62%	0.18%	1.3%	-0.47%	2.32%	0.81%	1.3%	3.45%
Equity / Assets	29.36%	30.14%	21.57%	20.84%	21.65%	20.46%	19.77%	16.76%	17.4%	18.72%
Book Value / Share	58.89	68.52	63.5	59.88	65.63	62.85	63.44	54.16	61.19	71.49
Debt / Equity	0.17x	0.16x	0.26x	0.27x	0.35x	0.27x	0.26x	0.32x	0.29x	0.24x
Revenue Growth	-4.91%	-2.5%	7.63%	15.26%	1.29%	-8.18%	11.77%	-0.31%	5.39%	7.66%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Insurance	1.8B	1.78B	2.11B	2.36B	2.19B	2.3B	2.65B	3.13B	3.46B	3.93B
Insurance Growth	-	-1.16%	18.51%	12.17%	-7.30%	4.97%	15.32%	18.21%	10.45%	13.41%
Reinsurance	1.89B	1.93B	2.04B	2.43B	2.4B	2.07B	2.06B	2.03B	1.62B	1.38B
Reinsurance Growth	-	2.12%	5.92%	18.92%	-1.31%	-13.55%	-0.66%	-1.57%	-19.94%	-14.91%
Corporate, Non-Segment	-	-	-	-	-	-	-	-	-	-
Corporate, Non-Segment Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

AXIS Capital Holdings Limited (AXS) has a price-to-earnings (P/E) ratio of 8.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

AXIS Capital Holdings Limited (AXS) grew revenue by 7.7% over the past year. This is steady growth.

Yes, AXIS Capital Holdings Limited (AXS) is profitable, generating $1.01B in net income for fiscal year 2024 (18.0% net margin).

Dividend & Returns

Yes, AXIS Capital Holdings Limited (AXS) pays a dividend with a yield of 1.78%. This makes it attractive for income-focused investors.

AXIS Capital Holdings Limited (AXS) has a return on equity (ROE) of 19.1%. This is reasonable for most industries.

Industry Metrics

AXIS Capital Holdings Limited (AXS) has a combined ratio of 83.2%. A ratio below 100% indicates underwriting profitability.

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