AXIS Capital Holdings Limited (AXS) Income Statement
AXS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAXS revenue and net income
Where AXS's revenue goes
2025Each bar shows an amount and its share of revenue. AXS kept 15.4% of revenue as net income.
AXS profit margins
AXS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +9.1% | +7.4% | +6.6% | +4.5% |
| Gross profit | +83.0% | +46.6% | +42.9% | +9.4% |
| Operating income | +21.6% | +71.5% | — | +6.6% |
| Net income | −6.7% | +65.4% | — | +4.6% |
| EPS (diluted) | +15.9% | +30.7% | — | +12.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AXS quarterly EPS vs estimates
AXIS Capital beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 28, 2026 (estimate $2.97).
AXS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.56B | $6.02B | $5.59B | $5.30B | $5.32B | $4.76B | $5.19B | $5.12B | $4.44B | $4.13B |
| Cost of revenue | $3.29B | $4.23B | $4.39B | $4.26B | $3.93B | $4.21B | $4.07B | $4.16B | $4.11B | $2.95B |
| Gross profit | $3.28B | $1.79B | $1.20B | $1.04B | $1.39B | $550.4M | $1.12B | $960.4M | $330.5M | $1.18B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $703.9M | $666.2M | $684.4M | $680.3M | $663.3M | $579.8M | $634.8M | $627.4M | $579.4M | $602.7M |
| Total operating expenses | $2.05B | $781.5M | $798.0M | $797.3M | $741.9M | $679.6M | $778.6M | $947.9M | $698.6M | $654.1M |
| Operating income | $1.23B | $1.01B | $398.4M | $243.1M | $648.9M | −$129.1M | $337.4M | $12.5M | −$368.1M | $521.8M |
| Interest income | $208.6M | $16.9M | $126.5M | $94.8M | $62.6M | $156.1M | $66.7M | $41.8M | $189.5M | $69.9M |
| Interest expense | $66.7M | $67.8M | $68.4M | $63.1M | $62.3M | $75.0M | $68.1M | $67.4M | $54.8M | $51.4M |
| Income before taxes | $1.23B | $1.03B | $402.6M | $245.1M | $681.0M | −$132.7M | $337.4M | $12.5M | −$368.1M | $521.8M |
| Income taxes | $216.7M | −$55.6M | $26.3M | $22.0M | $62.4M | −$12.3M | $23.7M | −$29.5M | −$7.5M | $6.3M |
| Net income | $1.01B | $1.08B | $376.3M | $223.1M | $618.6M | −$120.4M | $323.5M | $43.0M | −$369.0M | $513.4M |
| EBITDA | $1.35B | $1.13B | $542.4M | $374.6M | $778.2M | $11.7M | $480.8M | $89.8M | −$281.9M | $597.7M |
| EPS (diluted) | $12.96 | $11.18 | $9.84 | $5.81 | $5.11 | −$2.07 | $2.52 | $1.92 | −$3.21 | $4.50 |
| Gross margin | 49.9% | 29.7% | 21.4% | 19.6% | 26.1% | 11.6% | 21.5% | 18.8% | 7.4% | 28.5% |
| Operating margin | 18.7% | 16.8% | 7.1% | 4.6% | 12.2% | −2.7% | 6.5% | 0.2% | −8.3% | 12.6% |
| Net margin | 15.4% | 18.0% | 6.7% | 4.2% | 11.6% | −2.5% | 6.2% | 0.8% | −8.3% | 12.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.75B | $1.64B | $1.73B | $1.69B | $1.54B | $1.47B | $1.58B | $1.52B | $1.47B | $1.44B | $1.42B | $1.48B |
| Cost of revenue | $933.1M | $867.3M | $859.4M | $1.13B | $1.08B | $1.05B | $1.11B | $1.11B | $1.03B | $982.9M | $1.41B | $1.05B |
| Gross profit | $819.8M | $776.3M | $875.0M | $566.2M | $462.7M | $417.3M | $476.5M | $412.9M | $439.8M | $460.5M | $9.1M | $436.2M |
| Sales, general & admin | $481.2M | $462.4M | $212.1M | $171.6M | $161.1M | $159.2M | $189.2M | $165.2M | $148.4M | $163.4M | $169.8M | $179.3M |
| Total operating expenses | $484.4M | $468.2M | $539.4M | $196.2M | $182.4M | $181.2M | $209.6M | $185.9M | $195.2M | $190.9M | $194.8M | $226.4M |
| Operating income | $335.4M | $308.1M | $335.6M | $370.0M | $280.3M | $236.1M | $267.0M | $227.0M | $244.6M | $269.6M | −$185.7M | $209.8M |
| Interest income | — | — | $20.4M | $3.2M | $111.5M | $73.6M | $95.3M | $109.1M | — | — | — | $34.1M |
| Interest expense | $16.8M | $16.4M | $16.8M | $16.7M | $16.6M | $16.6M | $16.8M | $16.8M | $17.0M | $17.1M | $18.3M | $16.4M |
| Income before taxes | $321.9M | $308.1M | $335.6M | $372.1M | $279.6M | $238.4M | $274.2M | $228.7M | $252.5M | $270.8M | −$184.3M | $212.7M |
| Income taxes | −$61.4M | $55.8M | $46.0M | $70.3M | $56.2M | $44.3M | −$19.4M | $47.9M | $40.5M | −$124.7M | −$41.8M | $24.6M |
| Net income | $383.3M | $254.8M | $289.6M | $301.9M | $223.4M | $194.1M | $293.6M | $180.7M | $212.0M | $395.5M | −$142.6M | $188.1M |
| EBITDA | $350.7M | $322.5M | $416.1M | $400.6M | $310.3M | $266.5M | $296.9M | $258.2M | $275.3M | $301.0M | −$154.2M | $257.4M |
| EPS (diluted) | $2.84 | $3.29 | $3.25 | $3.25 | $3.29 | $3.17 | $2.97 | $2.71 | $2.93 | $2.57 | $2.94 | $2.34 |
| Gross margin | 46.8% | 47.2% | 50.4% | 33.4% | 30.0% | 28.4% | 30.1% | 27.2% | 29.9% | 31.9% | 0.6% | 29.4% |
| Operating margin | 19.1% | 18.7% | 19.3% | 21.9% | 18.2% | 16.1% | 16.8% | 14.9% | 16.6% | 18.7% | −13.1% | 14.1% |
| Net margin | 21.9% | 15.5% | 16.7% | 17.8% | 14.5% | 13.2% | 18.5% | 11.9% | 14.4% | 27.4% | −10.1% | 12.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AXS's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AXS financial results
In fiscal year 2025 (ended December 31, 2025), AXIS Capital reported revenue of $6.6 billion, up 9.1% from the year before. It had net income of $1.0 billion (down 6.7%), a net profit margin of 15.4%. Diluted earnings per share came to $12.96. Over five years revenue grew at an average rate of 6.6% a year.
See the AXS stock overview for the latest quote and news, or the AXS chart for price history and technical indicators.
AXS income statement FAQ
What is AXIS Capital's annual revenue?
AXIS Capital reported total revenue of $6.6 billion for fiscal year 2025, which ended on December 31, 2025. That was up 9.1% from $6.0 billion the previous year.
Is AXIS Capital profitable?
Yes. AXIS Capital reported net income of $1.0 billion in fiscal 2025, a net profit margin of 15.4%; its operating margin was 18.7%.
What is AXIS Capital's gross margin?
AXIS Capital's gross margin was 49.9% in fiscal 2025: for every $100 of revenue, AXIS Capital kept $50 after the direct cost of its products and services.
How fast is AXIS Capital growing?
Revenue grew 6.6% a year on average over the last five fiscal years, from $4.8 billion to $6.6 billion.
What are AXIS Capital's earnings per share?
AXIS Capital earned $12.96 per diluted share in fiscal 2025, compared with $11.18 a year earlier.
When will AXIS Capital report its next earnings?
AXIS Capital is expected to report results for the quarter ending September 30, 2026 on October 28, 2026 after the market closes.
When does AXIS Capital's fiscal year end?
AXIS Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.