Saturday 17 October 2026 Export AXON’s income statement to Excel — free account

Axon Enterprise, Inc

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%

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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

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

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

Debt/Equity 0.47

P/E ratio 157.38

Fwd P/E 136.00

P/S ratio 9.77

P/B ratio 8.56

Past 5Y EPS Growth —

This Y EPS Growth 12.27%

Next Y EPS Growth 37.81%

Next Y revenue growth 33.30%

Next 5Y EPS Growth 26.28%

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

Valuation vs history

EV/Sales, ten years

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
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

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 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.