Axon Enterprise

Industrials Aerospace & Defense Scottsdale, Arizona Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2025
                
$2.8B
                    3y CAGR +32.8%
                    
                    P100
                    
                    n/a
                    
                    Net income
                    FY2025
                
$124.7M
                    Net margin +4.5%
                    
                    P11
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$7.0B
                    ROA +1.8%
                    
                    P4
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$211.3M
                    FCF margin +2.7%
                    
                    P3
                    
                    n/a

17 yrs · FY2009–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

32 accounts · 1 year

Total assets $7.0B

Total liabilities $3.8B

Shareholders equity $3.2B

Account	2025	Trend
Assets
Cash and Cash Equivalents	$1.2B
Short Term Investments	$505.4M
Accounts Receivable	$4.2M
Inventory	$341.8M
Other Current Assets	$428.2M
Total Current Assets	$3.7B
Property,Plant and Equipment	$331.0M
Goodwill	$1.4B
Intangible Assets	$197.0M
Deferred Tax Assets	$359.8M
Other Noncurrent Assets	$428.2M
Total Assets	$7.0B
Liabilities
Accounts Payable	$139.1M
Accrued Liabilities	$510.5M
Deferred Revenue	$714.7M
Current Portion of Long Term Debt	$80.6M
Other Current Liabilities	$9.1M
Total Current Liabilities	$1.5B
Long Term Debt	$1.7B
Deferred Revenue Noncurrent	$359.9M
Operating Lease Liabilities Noncurrent	$98.9M
Deferred Tax Liabilities	$0
Other Noncurrent Liabilities	$50.4M
Total Liabilities	$3.8B
Equity
Preferred Stock	$0
Common Stock	$1.0K
Additional Paid In Capital	$2.5B
Retained Earnings	$936.7M
Treasury Stock	$157.2M
Accumulated Other Comprehensive Income	$-11.8M
Total Stockholders Equity	$3.2B
Total Liabilitiesand Equity	$7.0B

Income Statement

Revenue, expense, and profitability

20 accounts · 1 year

Revenue $2.8B

Operating income $-62.1M

Net income $124.7M

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	$2.8B
Expenses Cost of Revenue	$1.1B
Expenses Research and Development	$684.3M
Expenses Selling,General and Administrative	$1.0B
Expenses Depreciation and Amortization	$83.2M
Expenses Share Based Compensation	$634.2M
Expenses Restructuring and Asset Impairment	$31.8M
Expenses Operating Expenses	$1.7B
Other Income Expense Gross Profit	$1.7B
Other Income Expense Operating Income	$-62.1M
Other Income Expense Interest Income	$75.4M
Other Income Expense Other Income/expense	$99.9M
Other Income Expense Income Before Tax	$19.0M
Income Tax Income Tax Expense	$-105.7M
net Income net Income	$124.7M
net Income Comprehensive Income	$131.0M
Earnings Per Share Basic Eps	$2
Earnings Per Share Diluted Eps	$2
Earnings Per Share Weighted Average Shares Basic	$78.1M
Earnings Per Share Weighted Average Shares Diluted	$82.4M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 1 year

Operating cash flow $211.3M

Investing cash flow $-724.9M

Financing cash flow $1.3B

Account	2025	Trend
CashFlow
Operating Activities net Income	$124.7M
Operating Activities Depreciation and Amortization	$83.2M
Operating Activities Stock Based Compensation	$634.2M
Operating Activities Deferred Income Taxes	$-82.7M
Operating Activities Changes In Operating Assets and Liabilities	$430.0M
Operating Activities net Cash From Operating Activities	$211.3M
Investing Activities Capital Expenditures	$136.3M
Investing Activities Business Acquisitions	$646.9M
Investing Activities Purchases of Investments	$2.1B
Investing Activities Proceeds From Sale of Investments	$2.1B
Investing Activities Other Investing Activities	$49.0K
Investing Activities net Cash From Investing Activities	$-724.9M
Financing Activities Proceeds From Debt	$1.8B
Financing Activities Proceeds From Stock Issuance	$0
Financing Activities Tax Withholding On Stock Based Compensation	$351.0M
Financing Activities Other Financing Activities	$-224.0K
Financing Activities net Cash From Financing Activities	$1.3B
Cash Reconciliation Effect of Exchange Rate On Cash	$7.8M
Cash Reconciliation net Change In Cash	$746.6M
Cash Reconciliation Cash At Beginning of Period	$1.2B
Cash Reconciliation Cash At End of Period	$1.2B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	+59.7%
Operating margin	-2.2%
Net margin	+4.5%
FCF margin	+2.7%
Growth
Revenue CAGR (3y)	+32.8%
Returns
ROE	+3.8%
ROA	+1.8%
ROIC	-1.6%
Liquidity
Current ratio	2.53x
Quick ratio	0.82x
Leverage
D/E	1.16x
Interest coverage	—
Efficiency
Asset turnover	0.40x
Cash conversion cycle	+67d

Valuation

Price against fundamentals

AXON $752 · 2025-09-17 · 363d old · FY2025

Market cap $61.9B

P/E 496.78x

P/S 22.28x

P/B 19.10x

EV $62.5B

EV/EBITDA 2965.91x

FCF yield +0.1%

Dividend yield —

Notes

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