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AXA Equitable Holdings

DB:AXJ
Snowflake Description

Very undervalued with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AXJ
DB
$10B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

AXA Equitable Holdings, Inc. operates as a diversified financial services company worldwide. The last earnings update was 64 days ago. More info.


Add to Portfolio Compare Print
AXJ Share Price and Events
7 Day Returns
2.1%
DB:AXJ
5%
DE Diversified Financial
2.5%
DE Market
1 Year Returns
6.4%
DB:AXJ
1.4%
DE Diversified Financial
2.6%
DE Market
AXJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AXA Equitable Holdings (AXJ) 2.1% -1.4% -3.5% 6.4% - -
DE Diversified Financial 5% 7% -5% 1.4% 75.8% 333.8%
DE Market 2.5% 0.2% 1% 2.6% 7.8% 23.7%
1 Year Return vs Industry and Market
  • AXJ outperformed the Diversified Financial industry which returned 1.4% over the past year.
  • AXJ outperformed the Market in Germany which returned 2.6% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is AXA Equitable Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AXA Equitable Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AXA Equitable Holdings.

DB:AXJ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 6 analysts.
= Stable Book Value * Return on Equity
= $33.72 * 14.6%
$4.94
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $33.72
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:AXJ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Diversified Financial Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.72 (1 + (1- 21%) (55.5%))
0.859
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.859 * 5.96%)
5.35%

Discounted Cash Flow Calculation for DB:AXJ using Excess Returns Model Model

The calculations below outline how an intrinsic value for AXA Equitable Holdings is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:AXJ Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14.6% – 5.35%) * $33.72)
$3.13
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $3.13 / (5.35% - 0.23%)
$61.24
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $33.72 + $61.24
$94.96
DB:AXJ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:AXJ represents 0.90395x of NYSE:EQH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90395x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 94.96 x 0.90395
€85.84
Value per share (EUR) From above. €85.84
Current discount Discount to share price of €19.20
= -1 x (€19.20 - €85.84) / €85.84
77.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price AXA Equitable Holdings is available for.
Intrinsic value
>50%
Share price is €19.2 vs Future cash flow value of €85.84
Current Discount Checks
For AXA Equitable Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • AXA Equitable Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • AXA Equitable Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AXA Equitable Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AXA Equitable Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:AXJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in USD $1.95
NYSE:EQH Share Price ** NYSE (2019-10-11) in USD $21.24
Germany Diversified Financial Industry PE Ratio Median Figure of 6 Publicly-Listed Diversified Financial Companies 27.82x
Germany Market PE Ratio Median Figure of 417 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AXA Equitable Holdings.

DB:AXJ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:EQH Share Price ÷ EPS (both in USD)

= 21.24 ÷ 1.95

10.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AXA Equitable Holdings is good value based on earnings compared to the DE Diversified Financial industry average.
  • AXA Equitable Holdings is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does AXA Equitable Holdings's expected growth come at a high price?
Raw Data
DB:AXJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
41.7%per year
Europe Diversified Financial Industry PEG Ratio Median Figure of 13 Publicly-Listed Diversified Financial Companies 1.81x
Germany Market PEG Ratio Median Figure of 264 Publicly-Listed Companies 1.38x

*Line of best fit is calculated by linear regression .

DB:AXJ PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.89x ÷ 41.7%

0.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AXA Equitable Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on AXA Equitable Holdings's assets?
Raw Data
DB:AXJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in USD $30.22
NYSE:EQH Share Price * NYSE (2019-10-11) in USD $21.24
Germany Diversified Financial Industry PB Ratio Median Figure of 9 Publicly-Listed Diversified Financial Companies 3.77x
Germany Market PB Ratio Median Figure of 597 Publicly-Listed Companies 1.74x
DB:AXJ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:EQH Share Price ÷ Book Value per Share (both in USD)

= 21.24 ÷ 30.22

0.7x

* Primary Listing of AXA Equitable Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AXA Equitable Holdings is good value based on assets compared to the DE Diversified Financial industry average.
X
Value checks
We assess AXA Equitable Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Diversified Financial industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Diversified Financial industry average (and greater than 0)? (1 check)
  5. AXA Equitable Holdings has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is AXA Equitable Holdings expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
41.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AXA Equitable Holdings expected to grow at an attractive rate?
  • AXA Equitable Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • AXA Equitable Holdings's earnings growth is expected to exceed the Germany market average.
  • AXA Equitable Holdings's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:AXJ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:AXJ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 41.7%
DB:AXJ Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 7.2%
Germany Diversified Financial Industry Earnings Growth Rate Market Cap Weighted Average 17.3%
Europe Diversified Financial Industry Revenue Growth Rate Market Cap Weighted Average 0.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:AXJ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:AXJ Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 14,076 1,607 5
2020-12-31 13,619 1,420 7
2019-12-31 13,086 307 7
2019-10-12
DB:AXJ Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-06-30 8,800 -22 1,030
2019-03-31 8,606 199 831
2018-12-31 12,069 61 1,820
2018-09-30 10,473 -1,348 365
2018-06-30 12,196 -1,251 871
2018-03-31 13,164 -562 1,338
2017-12-31 12,420 -243 834
2017-09-30 10,956 990 -33
2017-06-30 10,305 590 -66
2017-03-31 10,654 -84 152
2016-12-31 11,763 -236 1,254

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AXA Equitable Holdings's earnings are expected to grow significantly at over 20% yearly.
  • AXA Equitable Holdings's revenue is expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:AXJ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from AXA Equitable Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AXJ Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.30 3.30 3.30 1.00
2020-12-31 2.73 2.83 2.64 2.00
2019-12-31 0.49 0.53 0.46 2.00
2019-10-12
DB:AXJ Past Financials Data
Date (Data in USD Millions) EPS *
2019-06-30 1.95
2019-03-31 1.52
2018-12-31 3.27
2018-09-30 0.65
2018-06-30 1.55
2018-03-31 2.39
2017-12-31 1.49
2017-09-30 -0.06
2017-06-30 -0.12
2017-03-31 0.27
2016-12-31 2.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • AXA Equitable Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess AXA Equitable Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AXA Equitable Holdings has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has AXA Equitable Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AXA Equitable Holdings's growth in the last year to its industry (Diversified Financial).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AXA Equitable Holdings's year on year earnings growth rate has been positive over the past 5 years.
  • AXA Equitable Holdings's 1-year earnings growth exceeds its 5-year average (18.3% vs 2.3%)
  • AXA Equitable Holdings's earnings growth has exceeded the Europe Diversified Financial industry average in the past year (18.3% vs 3.5%).
Earnings and Revenue History
AXA Equitable Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AXA Equitable Holdings Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:AXJ Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 8,800.00 1,030.00
2019-03-31 8,606.00 831.00
2018-12-31 12,069.00 1,820.00
2018-09-30 10,473.00 365.00
2018-06-30 12,196.00 871.00
2018-03-31 13,164.00 1,338.00
2017-12-31 12,420.00 834.00
2017-09-30 10,956.00 -33.00
2017-06-30 10,305.00 -66.00
2017-03-31 10,654.00 151.50
2016-12-31 11,763.00 1,254.00
2015-12-31 10,043.00 325.00
2014-12-31 13,063.00 1,630.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AXA Equitable Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if AXA Equitable Holdings has efficiently used its assets last year compared to the DE Diversified Financial industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if AXA Equitable Holdings improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess AXA Equitable Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Diversified Financial industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AXA Equitable Holdings has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is AXA Equitable Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up AXA Equitable Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • AXA Equitable Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • AXA Equitable Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of AXA Equitable Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 5.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AXA Equitable Holdings Company Filings, last reported 3 months ago.

DB:AXJ Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 16,645.00 4,852.00 14,380.00
2019-03-31 14,889.00 4,949.00 18,256.00
2018-12-31 15,619.00 5,528.00 20,486.00
2018-09-30 14,014.00 6,706.00 19,447.00
2018-06-30 15,009.00 6,772.00 21,297.00
2018-03-31 17,624.00 6,807.00 21,170.00
2017-12-31 17,144.00 7,917.00 18,984.00
2017-09-30 15,661.00 8,211.00 21,743.00
2017-06-30 15,614.00 8,066.00 20,642.00
2017-03-31 15,000.00 8,102.00 15,371.00
2016-12-31 14,952.00 8,102.00 15,371.00
2015-12-31 13,582.00 9,817.00 15,500.00
2014-12-31
  • AXA Equitable Holdings's level of debt (28.1%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if AXA Equitable Holdings's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on AXA Equitable Holdings's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess AXA Equitable Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AXA Equitable Holdings has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is AXA Equitable Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.82%
Current annual income from AXA Equitable Holdings dividends. Estimated to be 2.84% next year.
If you bought €2,000 of AXA Equitable Holdings shares you are expected to receive €56 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AXA Equitable Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • AXA Equitable Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:AXJ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
Europe Diversified Financial Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 337 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:AXJ Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.66 7.00
2020-12-31 0.62 10.00
2019-12-31 0.55 10.00
2019-10-12
DB:AXJ Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-23 0.600 2.826
2019-02-14 0.520 2.482
2018-11-12 0.520 2.869
2018-08-13 0.520 2.406

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether AXA Equitable Holdings has stable dividend payments.
  • AXA Equitable Holdings only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of AXA Equitable Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (7.8x coverage).
X
Income/ dividend checks
We assess AXA Equitable Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AXA Equitable Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AXA Equitable Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of AXA Equitable Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mark Pearson
COMPENSATION $12,138,563
AGE 61
CEO Bio

Mr. Mark Pearson serves as Director at AXA Equitable Holdings, Inc., since January 2011 and serves as its Chief Executive Officer and President. He serves as Chief Executive Officer, President and Director at AXA Financial, Inc. since February 2011. Mr. Pearson has been the Chief Executive Officer, and Director since January 2011 of MONY Life Insurance Company of America since January 2011 and also served as its President. He served as Chairman of MONY Life Insurance Company of America. He serves as the Chief Executive Officer of AXA US. Mr. Pearson serves as the Chief Executive Officer at AXA Equitable Life Insurance Company since January 1, 2011. He served as the President at AXA Equitable Life Insurance Company until August 2018. He has been Director of AXA Equitable Life Insurance Company since January 2011. He served as Chairman at AXA Equitable Life Insurance Company from February 11, 2011 to 2018. From February 2011 to September 2013, Mr. Pearson served as AXA Equitable Life’s Chairman of the Board and Chief Executive Officer from February 2011 to September 2013. He served as the Chief Executive Officer, President, Representative Executive Officer and Director of AXA Life Insurance Co. Ltd. since July 1, 2008. From 2008 to 2011, Mr. Pearson served as President, Chief Executive Officer of AXA Asia Life at AXA Japan Holding Co., Ltd. Mr. Pearson joined AXA in 1995 and he was appointed Regional Chief Executive of AXA Asia Life in 2001. Before joining AXA, Mr. Pearson spent approximately 20 years in the insurance sector, assuming several senior manager positions at Hill Samuel, Schroders, National Mutual Holdings and Friends Provident. He has been a director of AXA Equitable Life since January 2011. He served as Member of Regional Management Board and Regional Chief Executive Asia Life at AXA Asia Pacific Holdings Ltd in 2001. Mr. Pearson e served as the Chairman of AXA SA. He serves as a Director of AllianceBernstein LP since February 2011. Mr. Pearson has been a Director of Alliancebernstein Corporation, General Partner of AllianceBernstein Holding L.P. since February 2011. He served as a Director of AXA Japan Holding Company Limited. Mr. Pearson is a Fellow of the Chartered Association of Certified Accountants and is a member of the Board of Directors of the American Council of Life Insurers.

CEO Compensation
  • Mark's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Mark's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the AXA Equitable Holdings management team in years:

1.8
Average Tenure
54
Average Age
  • The average tenure for the AXA Equitable Holdings management team is less than 2 years, this suggests a new team.
Management Team

Mark Pearson

TITLE
President
COMPENSATION
$12M
AGE
61

Anders Malmström

TITLE
Senior EVP & CFO
COMPENSATION
$5M
AGE
51
TENURE
7.8 yrs

Jeff Hurd

TITLE
Senior EVP & COO
COMPENSATION
$6M
AGE
52
TENURE
1.8 yrs

Dave Hattem

TITLE
Chief Legal Officer
COMPENSATION
$4M
AGE
62
TENURE
7.8 yrs

Seth Bernstein

TITLE
Senior EVP and Head of Investment Management & Research
COMPENSATION
$9M
AGE
58

William Eckert

TITLE
Senior VP
AGE
56
TENURE
1.2 yrs

Kevin Molloy

TITLE
Head of Investor Relations
AGE
48

Robin Raju

TITLE
Senior VP & Treasurer

Nick Lane

TITLE
President of Retirement
AGE
45
TENURE
0.7 yrs
Board of Directors Tenure

Average tenure and age of the AXA Equitable Holdings board of directors in years:

1.5
Average Tenure
61
Average Age
  • The average tenure for the AXA Equitable Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ramon de Oliveira-Cezar

TITLE
Independent Chairman of the Board
COMPENSATION
$544K
AGE
65
TENURE
0.6 yrs

Mark Pearson

TITLE
President
COMPENSATION
$12M
AGE
61
TENURE
8.8 yrs

Dan Kaye

TITLE
Independent Director
COMPENSATION
$607K
AGE
65
TENURE
1.5 yrs

Charles Thoroton Stonehill

TITLE
Independent Director
COMPENSATION
$278K
AGE
61
TENURE
1.5 yrs

Kristi Matus

TITLE
Independent Director
AGE
51
TENURE
0.6 yrs

Thomas Buberl

TITLE
Director
AGE
46
TENURE
3.1 yrs

George Stansfield

TITLE
Director
COMPENSATION
$235K
AGE
59
TENURE
1.9 yrs

Gérald Harlin

TITLE
Director
AGE
64
TENURE
3.1 yrs

Bert Scott

TITLE
Independent Director
AGE
68
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
08. Jul 19 Sell AXA SA Company 08. Jul 19 08. Jul 19 -6,000,000 €18.59 €-111,551,670
01. Jul 19 Buy Mark Pearson Individual 27. Jun 19 27. Jun 19 49,000 €17.90 €876,887
07. Jun 19 Sell AXA SA Company 07. Jun 19 07. Jun 19 -40,000,000 €18.39 €-735,588,000
25. Mar 19 Sell AXA SA Company 25. Mar 19 25. Mar 19 -46,000,000 €17.67 €-812,679,758
20. Nov 18 Sell AXA SA Company 20. Nov 18 20. Nov 18 -60,000,000 €17.33 €-1,039,511,070
X
Management checks
We assess AXA Equitable Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AXA Equitable Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

AXA Equitable Holdings, Inc. operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals. The Group Retirement segment provides tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities, and not-for-profit entities, as well as small and medium-sized businesses. The Investment Management and Research segment offers diversified investment management, research, and related solutions to a range of clients through institutional, retail, and private wealth management channels; and distributes its institutional research products and solutions. The Protection Solutions segment provides a range of universal life, indexed universal life, and term life products to help affluent and high net worth individuals, as well as small and medium-sized business owners; and a suite of life, short- and long-term disability, dental, and vision insurance products to small and medium-size businesses. The company was founded in 1859 and is based in New York, New York.

Details
Name: AXA Equitable Holdings, Inc.
AXJ
Exchange: DB
Founded: 1859
$9,440,955,157
491,148,524
Website: http://www.axaequitableholdings.com
Address: AXA Equitable Holdings, Inc.
1290 Avenue Of The Americas,
New York,
New York, 10104,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE EQH Common Stock New York Stock Exchange US USD 10. May 2018
DB AXJ Common Stock Deutsche Boerse AG DE EUR 10. May 2018
XTRA AXJ Common Stock XETRA Trading Platform DE EUR 10. May 2018
Number of employees
Current staff
Staff numbers
7,800
AXA Equitable Holdings employees.
Industry
Other Diversified Financial Services
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/10/12 23:19
End of day share price update: 2019/10/11 00:00
Last estimates confirmation: 2019/10/10
Last earnings filing: 2019/08/09
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.