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AXS-PE

AXIS Capital Holdings Limited

AXS-PE

AXIS Capital Holdings Limited • NYSE
$20.75 ▲ 0.05% (+0.01)
Market Cap $7.60 B
52w High $23.01
52w Low $19.45
Dividend Yield 1.38%
P/E 2.89
Volume 26.94K
Outstanding Shares 366.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.693B ▲ $196.165M ▲ $301.864M ▲ 17.827% ▲ $3.85 ▲ $400.574M ▲
Q2-2025 $1.54B ▲ $182.392M ▲ $223.358M ▲ 14.501% ▲ $2.75 ▲ $310.327M ▲
Q1-2025 $1.468B ▼ $181.193M ▼ $194.071M ▼ 13.222% ▼ $2.3 ▼ $266.466M ▼
Q4-2024 $1.585B ▲ $209.581M ▲ $293.633M ▲ 18.528% ▲ $3.43 ▲ $296.855M ▲
Q3-2024 $1.52B $185.915M $180.728M 11.892% $2.06 $258.156M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.706B ▲ $34.336B ▲ $27.969B ▼ $6.367B ▲
Q2-2025 $5.681B ▲ $34.151B ▲ $27.977B ▲ $6.174B ▲
Q1-2025 $2.849B ▼ $33.249B ▲ $27.346B ▲ $5.903B ▼
Q4-2024 $6.92B ▲ $32.52B ▼ $26.431B ▼ $6.089B ▲
Q3-2024 $6.124B $32.723B $26.639B $6.083B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $301.862M ▲ $673.841M ▲ $-565.966M ▼ $-152.001M ▼ $-51.123M ▲ $673.841M ▲
Q2-2025 $223.356M ▲ $-1.654B ▼ $-184.507M ▼ $-93.423M ▲ $-1.924B ▼ $-1.654B ▼
Q1-2025 $194.071M ▼ $309.079M ▼ $462.286M ▼ $-511.659M ▼ $269.146M ▼ $309.079M ▼
Q4-2024 $293.635M ▲ $355.547M ▼ $1.391B ▲ $-114.937M ▼ $1.592B ▲ $355.547M ▼
Q3-2024 $180.728M $587.027M $-700.339M $-95.199M $-183.737M $587.027M

Revenue by Products

Product Q1-2018
Service Fees and Reimbursement of Expenses
Service Fees and Reimbursement of Expenses
 $10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past five years AXIS Capital has shifted from choppy, low-margin results to much stronger and more consistent profitability. Revenue has grown steadily, but the real story is the improvement in underwriting and overall margins: earnings have moved from a small loss earlier in the period to solid profits more recently. This suggests tighter risk selection, better pricing, and more discipline in the core insurance and reinsurance books. That said, results are still inherently exposed to large loss events and market cycles, so investors should expect some ongoing earnings volatility even against an improving trend line.

Balance Sheet

Balance Sheet The balance sheet looks progressively stronger. Total assets and shareholders’ equity have both grown, pointing to a larger and better-capitalized platform. Debt levels have stayed fairly stable, which means leverage has not ballooned as the company has expanded. Cash and liquid resources have increased meaningfully in the most recent year, adding an extra buffer against shocks and giving AXIS more flexibility to fund growth, withstand catastrophe events, or return capital when appropriate. Overall, the financial foundation appears solid and improving over time.

Cash Flow

Cash Flow Cash generation has improved markedly. Operating cash flow has climbed from modest levels to healthy inflows, showing that reported earnings are increasingly backed by real cash coming into the business. Capital spending needs are low, so most of that operating cash flow is effectively free cash flow. This combination of rising, relatively stable free cash flow and light investment requirements gives AXIS room to absorb volatility in claims, invest selectively in technology and growth initiatives, and support its capital structure.

Competitive Edge

Competitive Edge AXIS Capital competes in specialty property and casualty insurance and reinsurance, where expertise and discipline matter more than sheer size. Its focus on higher-margin, complex niches—such as cyber, energy transition, and specialized healthcare—helps differentiate it from more commodity-driven insurers. A diverse geographic footprint, including a strong presence in the U.S. excess and surplus market and at Lloyd’s of London, broadens opportunity and spreads risk. The main competitive challenges remain intense pricing pressure across the industry, exposure to large catastrophe and cyber events, and the need to continually prove superior underwriting versus peers pursuing similar specialty lines.

Innovation and R&D

Innovation and R&D The company is leaning heavily into technology and partnerships to sharpen its edge. It is embedding AI and data analytics into underwriting and operations, with initiatives like the “How We Work” program aimed at faster, more accurate risk selection and greater efficiency. AXIS Digital Ventures extends this by investing in and partnering with insurtech firms to access new data sources, products, and distribution models. New offerings—such as energy transition underwriting, cyber incident response services, and structured capacity solutions—show a willingness to innovate product design as risks evolve. The opportunity is meaningful, but success depends on effective integration of these tools into day-to-day underwriting and on staying ahead in a fast-moving technology and cyber risk landscape.

Summary

Overall, AXIS Capital appears to be in a stronger position than it was five years ago: profitability has improved, the balance sheet has grown more robust, and cash flow is healthier and more dependable. Strategically, the company is leaning into specialty lines where expertise can create an edge, while using AI, data analytics, and insurtech partnerships to refine underwriting and expand its product set. The key watchpoints are execution risk around its technology transformation, ongoing exposure to large loss events and market cycles, and competition from both traditional insurers and tech-enabled newcomers. If it continues to manage risk well and successfully embed innovation into its core business, AXIS is positioned to remain a meaningful player in the global specialty insurance and reinsurance market.