Axon Enterprise, Inc

AXON Industrials Aerospace & Defense

Axon Enterprise, Inc’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 33.5% from fiscal 2024. In the quarter to June 2026, revenue grew 35.3%, EPS fell 19.6%, free cash flow grew 99.2% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years.

390.29 26.90 −6.45%
Market cap
$33.9B
P/E
157×
Fwd P/E
136×
Dividend yield
—
F-score
5/9
Altman Z
8.02
Beneish M
−2.18
Dividend safety
n/a

Insider Decisions trades per month

Total sells 111.09
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 9 1 3 6 — 1 8 1 4 2 —
Insider Ownership 5.29%

Capital & Financial Ratios $m

Market Cap 33,890.00
Revenue 3,219.10
Net Income 199.30
Free Cash Flow 133.19
Net Debt 1,039.28
Current Ratio 2.15 (at or above 1.5: strong)
Debt/Equity 0.47 (at or below 0.5: strong)
P/E ratio 157.38 (above 35: high)
Fwd P/E 136.00 (above 35: high)
P/S ratio 9.77
P/B ratio 8.56 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth 12.27%
Next Y EPS Growth 37.81% (at or above 15%: strong)
Next Y revenue growth 33.30% (at or above 10%: strong)
Next 5Y EPS Growth 26.28% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 62.95%
10-year low 10-year high
P/S against its own 10 years 47.77%
10-year low 10-year high
P/B against its own 10 years 40.21%
10-year low 10-year high
EV/Sales against its own 10 years 52.89%
10-year low 10-year high
EV/FCF against its own 10 years 82.61%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,321 986 1,734 693
Receivables 413 548 777 769
Inventory 270 265 342 487
Other 287 368 583 866
2,394 2,297 3,713 3,005
2023 2024 2025 Q'26
Payables 66 72 139 270
ST’ Debt — — — —
Other 32 33 25 34
762 1,678 1,470 1,398

Compound Annual Growth %

10y 5y 3y
Sales 30.24% 32.48% 32.79%
Cash Flow 16.36% 40.59% (3.52%)
Earnings 20.12% 0.00% (5.33%)
Book Value 35.36% 27.14% 36.73%

Revenue $m

Mar Jun Sep Dec Year
’26 807 904 — — —
’25 604 669 711 797 2,780
’24 460 503 544 575 2,083
’23 343 375 413 430 1,561
’22 256 286 312 333 1,187
’21 195 219 232 218 863
’20 147 141 166 226 681
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (32) 20 — — —
’25 26 (92) 60 217 211
’24 (16) 83 91 250 408
’23 (56) 43 63 140 189
’22 44 19 41 131 235
’21 61 34 16 13 124
’20 13 (20) 11 34 38
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (55) (1) — — —
’25 1 (115) 33 155 75
’24 (32) 71 65 225 330
’23 (65) 29 49 115 129
’22 27 7 27 119 179
’21 50 21 4 (1) 74
’20 11 (26) (47) 28 (34)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 2.05 0.36 — — —
’25 1.08 0.44 (0.03) 0.03 1.51
’24 1.73 0.53 0.86 1.67 4.80
’23 0.61 0.16 0.78 0.75 2.31
’22 0.76 0.71 0.17 0.40 2.03
’21 (0.75) (0.72) 0.67 (0.19) (0.91)
’20 0.07 (0.51) (0.01) 0.40 (0.03)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 13.56 20.57 24.50 42.42 50.05 115.57 82.49 164.67 241.72 469.24

Analyst estimates 2026–2028

Powerpack
High 30.15 28.17 76.45 77.66 134.73 212.37 193.85 260.69 698.67 885.92
People
People Employees 901 1,095 1,386 1,916 2,548 2,992 3,734 4,260 4,970 6,300
Revenue/emp, $m 0.30 0.31 0.30 0.28 0.27 0.29 0.32 0.37 0.42 0.44
Income, $m
Income, $m Revenue 268 344 420 531 681 863 1,187 1,561 2,083 2,780
Gross margin, % 63.57 60.24 61.56 57.88 61.13 62.65 61.16 61.22 59.61 59.65
EBT 31 16 28 2 (6) (141) 196 157 382 19
EBT margin, % 11.74 4.58 6.69 0.39 (0.92) (16.37) 16.53 10.06 18.32 0.68
Net income 17 5 29 1 (2) (60) 147 176 377 125
Depreciation 5 8 11 12 16 24 23 19 48 83
Per share, $
Per share, $ Revenue 5.09 6.52 7.45 8.97 11.02 13.04 16.70 21.04 27.49 35.60
Earnings 0.33 0.10 0.52 0.01 (0.03) (0.91) 2.07 2.35 4.98 1.60
Cash flow 0.40 0.35 1.13 1.11 0.62 1.88 3.31 2.55 5.39 2.71
Capex (0.16) (0.22) (0.21) (0.28) (1.18) (0.76) (0.79) (0.81) (1.04) (1.75)
Free cash flow 0.24 0.13 0.93 0.83 (0.56) 1.12 2.52 1.74 4.35 0.96
Book value 2.86 3.18 8.29 9.18 15.80 15.83 17.84 21.78 30.73 41.53
Shares, m 53 53 56 59 62 66 71 74 76 78
Valuation, ×
Valuation, × P/E 76.81 270.92 82.55 7,328.00 0.00 0.00 81.28 107.53 119.58 354.96
P/S 4.83 4.07 5.87 8.17 11.12 12.04 10.08 11.96 21.62 15.95
P/B 8.58 8.36 5.28 7.98 7.75 9.92 9.43 11.55 19.34 13.68
EV/Sales 4.49 3.83 5.05 7.52 10.32 11.55 9.82 11.55 21.47 15.95
EV/FCF 94.74 186.89 40.62 80.96 (204.91) 134.25 65.05 140.38 136.11 598.76
Cash, $m
Cash, $m Operating cash flow 21 18 64 66 38 124 235 189 408 211
Capex (8) (11) (12) (16) (73) (50) (56) (60) (79) (136)
Free cash flow 13 7 52 49 (34) 74 179 129 330 75
Balance, $m
Balance, $m Working capital 99 97 392 414 726 691 1,203 1,632 620 2,243
Total debt 2 2 — 7 19 20 674 677 680 1,730
Net debt (89) (82) (349) (344) (543) (423) (301) (643) (306) (4)
Shareholders’ equity 151 167 467 543 976 1,048 1,268 1,616 2,328 3,243
Returns, %
Returns, % ROA 6.81 1.69 5.52 0.11 (0.15) (3.91) 6.47 5.62 9.56 2.17
ROIC 32.20 9.52 13.17 (2.00) (2.04) (16.82) 6.00 10.08 1.81 (1.20)
ROE 11.24 3.27 9.20 0.17 (0.23) (5.93) 12.69 12.19 19.12 4.48
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Axon Enterprise, Inc vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TDG Transdigm Group Incorporated $62.7B 34.6× 35.3× +22.53% (above 0%: growing) +10.86% (above 0%: growing) +13.44% (above 0%: growing) 59.39% 44.76% Compare
LHX L3Harris Technologies Inc $44.8B 25.0× 26.5× +8.39% (above 0%: growing) +28.57% (above 0%: growing) +37.43% (above 0%: growing) 25.54% 11.12% Compare
HEI Heico Corporation $36.7B 51.0× 55.0× +23.13% (above 0%: growing) +33.07% (above 0%: growing) +47.74% (above 0%: growing) 41.12% 25.14% Compare
HEI.A Heico Corporation $36.6B 38.3× 55.0× +23.13% (above 0%: growing) +33.07% (above 0%: growing) +47.74% (above 0%: growing) 41.12% 25.14% Compare
ESLT Elbit Systems Ltd. $34.8B 55.2× 53.2× +15.94% (above 0%: growing) +34.42% (above 0%: growing) +113.91% (above 0%: growing) 25.32% 9.57% Compare
AXON Axon Enterprise, Inc $33.9B 157× 136× +35.28% (above 0%: growing) −19.57% (below 0%: shrinking) +99.15% (above 0%: growing) 60.42% 5.17%
RKLB Rocket Lab Corporation $33.1B — (loss-making) — (loss-making) +61.99% (above 0%: growing) n/m −99.66% (below 0%: shrinking) 36.13% (24.57%) Compare
WWD Woodward, Inc. $19.7B 35.5× 38.5× +21.22% (above 0%: growing) +35.71% (above 0%: growing) −12.15% (below 0%: shrinking) 31.53% 16.66% Compare
CW Curtiss-Wright Corporation $18.5B 34.4× 48.5× +5.41% (above 0%: growing) +27.41% (above 0%: growing) +37.04% (above 0%: growing) 39.40% 19.34% Compare
Median of peers $35.7B 35.5× 48.5× +21.88% +33.07% +37.24% 37.77% 18.00%

All 82 Aerospace & Defense stocks →

AXON metrics, ten years each

Axon Enterprise, Inc (AXON) key facts

  • Strength: Axon Enterprise, Inc’s revenue for fiscal 2025 (year ended December 2025) was $2.8 billion, up 33.5% from fiscal 2024.
  • Axon Enterprise, Inc (AXON) is an Aerospace & Defense company in the Industrials sector, listed on Nasdaq.
  • As of October 16, 2026, AXON traded at $390.29, a market capitalization of $33.9 billion.
  • Return on equity was 4.48% and debt-to-equity 0.47.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 8.02 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Axon Enterprise, Inc (AXON) Latest News

stockrow.com/AXON · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com