NASDAQ : AXON
Axon Enterprise, Inc. — Financial statements
Industrials · Aerospace & Defense · United States
Last price 427.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 34.75B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Axon Enterprise, Inc. (AXON) reported revenue of 3.22B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.22B | 2.78B | 2.08B | 1.56B | 1.19B | 863.38M |
| Cost of Revenue | 1.30B | 1.12B | 840.54M | 605.25M | 461.03M | 322.47M |
| Gross Profit | 1.92B | 1.66B | 1.24B | 955.45M | 726.11M | 540.91M |
| Selling, General & Admin | 1.09B | 1.01B | 741.25M | 494.88M | 399.33M | 518.68M |
| Research & Development | 767.25M | 683.20M | 441.59M | 303.72M | 233.81M | 190.35M |
| Other Operating Expenses | 1.65M | 2.07M | ||||
| Operating Expenses | 1.86B | 1.69B | 1.18B | 798.60M | 633.14M | 709.03M |
| Operating Income | 55.73M | -29.65M | 59.15M | 156.85M | 92.97M | -168.12M |
| Interest Expense | -114.47M | -94.24M | -7.10M | -7.00M | ||
| Interest & Investment Income | 59.00M | 75.43M | 43.69M | 49.11M | 4.29M | 1.48M |
| Currency Exchange Gain (Loss) | -1.83M | -1.45M | 3.46M | |||
| Other Non Operating Income (Expenses) | -38.86M | -38.66M | -311.00K | -41.90M | 98.97M | 25.27M |
| EBT Excluding Unusual Items | -40.43M | -88.57M | 98.90M | 157.06M | 196.24M | -141.38M |
| Merger & Restructuring Charges | -607.00K | -609.00K | ||||
| Gain (Loss) on Sale of Investments | 226.09M | 139.97M | 283.22M | |||
| Other Unusual Items | -3.29M | -31.82M | ||||
| Pretax Income | 182.37M | 18.97M | 381.50M | 157.06M | 196.24M | -141.38M |
| Income Tax Expense | -16.93M | -105.68M | 4.47M | -18.72M | 49.31M | -81.36M |
| Net Income | 199.30M | 124.66M | 377.03M | 175.78M | 146.93M | -60.02M |
| Net Income to Common | 199.30M | 124.66M | 377.03M | 175.78M | 146.93M | -60.02M |
| Shares Outstanding (Basic) | 79.54M | 78.08M | 75.75M | 74.19M | 71.09M | 66.19M |
| Shares Outstanding (Diluted) | 82.74M | 82.37M | 78.56M | 75.46M | 72.53M | 66.19M |
| EPS (Basic) | 2.51 | 1.60 | 4.98 | 2.37 | 2.07 | -0.91 |
| EPS (Diluted) | 2.40 | 1.51 | 4.80 | 2.33 | 2.03 | -0.91 |
| Free Cash Flow | 133.19M | 75.08M | 329.53M | 129.63M | 179.56M | 74.61M |
| Free Cash Flow Per Share | 1.61 | 0.91 | 4.20 | 1.72 | 2.48 | 1.13 |
| Gross Margin | 59.52% | 59.82% | 59.64% | 61.22% | 61.17% | 62.65% |
| Operating Margin | 1.73% | -1.07% | 2.84% | 10.05% | 7.83% | -19.47% |
| Profit Margin | 6.19% | 4.49% | 18.11% | 11.26% | 12.38% | -6.95% |
| Free Cash Flow Margin | 4.14% | 2.70% | 15.82% | 8.31% | 15.12% | 8.64% |
| EBITDA | 165.11M | 53.51M | 107.57M | 176.16M | 116.09M | -149.43M |
| EBITDA Margin | 5.13% | 1.93% | 5.17% | 11.29% | 9.78% | -17.31% |
| D&A For EBITDA | 109.38M | 83.16M | 48.42M | 19.32M | 23.12M | 18.69M |
| EBIT | 55.73M | -29.65M | 59.15M | 156.85M | 92.97M | -168.12M |
| EBIT Margin | 1.73% | -1.07% | 2.84% | 10.05% | 7.83% | -19.47% |
| Effective Tax Rate | 1.17% | 25.13% | ||||
| Revenue as Reported | 3.22B | 2.78B | 2.08B | 1.56B | 1.19B | 863.38M |
| Advertising Expenses | 2.30M | 2.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 597.70M | 1.20B | 454.84M | 598.54M | 353.68M | 356.33M |
| Short-Term Investments | 94.83M | 532.63M | 531.50M | 721.99M | 621.01M | 86.69M |
| Cash & Short-Term Investments | 692.53M | 1.73B | 986.35M | 1.32B | 974.69M | 443.02M |
| Receivables | 1.52B | 1.36B | 915.50M | 700.19M | 555.09M | 501.24M |
| Inventory | 486.56M | 341.81M | 265.32M | 269.86M | 202.47M | 108.69M |
| Prepaid Expenses | 190.68M | 178.49M | 59.37M | 56.83M | 43.62M | 36.53M |
| Restricted Cash | 12.25M | 11.92M | 49.00K | |||
| Other Current Assets | 115.35M | 86.61M | 59.02M | 46.22M | 29.41M | 19.96M |
| Total Current Assets | 3.00B | 3.71B | 2.30B | 2.39B | 1.81B | 1.11B |
| Property, Plant & Equipment | 341.51M | 430.49M | 291.89M | 236.69M | 208.21M | 161.73M |
| Long-Term Investments | 853.84M | 416.83M | 332.55M | 213.00M | 435.54M | 114.75M |
| Goodwill | 1.90B | 1.37B | 756.84M | 57.95M | 44.98M | 43.59M |
| Other Intangible Assets | 281.58M | 196.97M | 175.16M | 19.54M | 12.16M | 15.47M |
| Long-Term Accounts Receivable | 296.46M | 178.25M | 119.88M | 84.38M | 45.17M | 29.75M |
| Long-Term Deferred Tax Assets | 345.50M | 359.80M | 304.28M | 227.78M | 156.87M | 127.19M |
| Long-Term Deferred Charges | 245.90M | 154.89M | 121.26M | 96.26M | 57.94M | |
| Other Long-Term Assets | 457.14M | 82.76M | 38.16M | 52.35M | 42.22M | 17.03M |
| Total Assets | 7.48B | 7.00B | 4.47B | 3.41B | 2.85B | 1.69B |
| Accounts Payable | 269.96M | 139.09M | 71.95M | 65.85M | 59.92M | 32.22M |
| Accrued Expenses | 380.62M | 472.34M | 243.05M | 180.39M | 141.56M | 97.15M |
| Current Portion of Long-Term Debt | 80.55M | 680.29M | ||||
| Current Portion of Leases | 17.13M | 6.99M | 9.45M | 7.94M | 6.36M | 6.54M |
| Current Income Taxes Payable | 33.01M | 27.34M | 27.86M | 5.78M | 13.56M | 3.74M |
| Current Unearned Revenue | 687.22M | 730.86M | 633.58M | 492.35M | 380.44M | 276.05M |
| Other Current Liabilities | 10.30M | 12.97M | 11.69M | 9.22M | 811.00K | 2.82M |
| Total Current Liabilities | 1.40B | 1.47B | 1.68B | 761.54M | 602.65M | 418.52M |
| Long-Term Debt | 1.73B | 1.73B | 677.11M | 673.97M | ||
| Long-Term Leases | 101.66M | 98.94M | 41.38M | 33.55M | 37.14M | 20.44M |
| Long-Term Unearned Revenue | 385.66M | 359.90M | 360.69M | 270.90M | 248.00M | 185.72M |
| Long-Term Deferred Tax Liabilities | 1.64M | 2.37M | 1.00K | 811.00K | ||
| Other Long-Term Liabilities | 189.25M | 96.85M | 64.61M | 50.31M | 21.64M | 14.87M |
| Total Liabilities | 3.81B | 3.76B | 2.15B | 1.79B | 1.58B | 640.36M |
| Common Stock | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 2.74B | 2.48B | 1.69B | 1.35B | 1.17B | 1.10B |
| Retained Earnings | 1.14B | 936.67M | 812.01M | 434.98M | 257.02M | 109.88M |
| Treasury Stock | -180.16M | -157.24M | -155.95M | -155.95M | -155.95M | -155.95M |
| Comprehensive Income & Other | -16.42M | -11.81M | -18.18M | -10.68M | -7.18M | -1.32M |
| Shareholders' Equity | 3.67B | 3.24B | 2.33B | 1.62B | 1.27B | 1.05B |
| Total Liabilities & Equity | 7.48B | 7.00B | 4.47B | 3.41B | 2.85B | 1.69B |
| Total Debt | 1.85B | 1.92B | 731.12M | 718.60M | 717.47M | 26.98M |
| Net Cash (Debt) | -1.16B | -182.88M | 255.22M | 601.94M | 257.23M | 416.04M |
| Net Cash Per Share | -14.00 | -2.22 | 3.25 | 7.98 | 3.55 | 6.29 |
| Filing Date Shares Outstanding | 81.24M | 80.40M | 76.62M | 75.30M | 72.86M | 70.93M |
| Total Common Shares Outstanding | 81.24M | 80.21M | 76.62M | 75.30M | 71.47M | 70.90M |
| Working Capital | 1.61B | 2.24B | 619.61M | 1.63B | 1.20B | 690.97M |
| Book Value Per Share | 45.23 | 40.43 | 30.38 | 21.46 | 17.75 | 14.78 |
| Tangible Book Value | 1.49B | 1.68B | 1.40B | 1.54B | 1.21B | 988.79M |
| Tangible Book Value Per Share | 18.39 | 20.89 | 18.22 | 20.43 | 16.95 | 13.95 |
| Land | 51.61M | 51.61M | 51.61M | 51.61M | 54.87M | |
| Buildings | 62.37M | 52.06M | 32.09M | 25.87M | 25.71M | |
| Machinery | 283.90M | 201.55M | 151.86M | 93.77M | 79.20M | |
| Construction In Progress | 97.57M | 62.18M | 55.40M | 62.28M | 25.26M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 199.30M | 124.66M | 377.03M | 175.78M | 146.93M | -60.02M |
| Depreciation & Amortization | 109.38M | 83.16M | 48.42M | 19.32M | 23.12M | 18.69M |
| Loss (Gain) From Sale of Investments | -226.09M | -139.97M | -283.22M | 41.78M | -98.94M | -17.82M |
| Stock-Based Compensation | 633.45M | 634.23M | 382.60M | 131.36M | 106.18M | 303.33M |
| Provision & Write-off of Bad Debts | 7.72M | 11.35M | 20.07M | 5.48M | 701.00K | |
| Other Operating Activities | 31.70M | -20.34M | -63.92M | -59.64M | 38.05M | -76.41M |
| Change in Accounts Receivable | -549.65M | -505.56M | -245.84M | -178.99M | -78.23M | -205.77M |
| Change in Inventory | -178.95M | -81.95M | 607.00K | -77.63M | -95.01M | -18.27M |
| Change in Accounts Payable | 371.24M | 286.88M | 54.52M | 65.33M | 80.98M | 45.30M |
| Change in Unearned Revenue | 99.28M | 83.48M | 155.64M | 146.82M | 155.57M | 175.62M |
| Change in Other Net Operating Assets | -231.57M | -264.59M | -37.61M | -80.35M | -43.98M | -40.16M |
| Operating Cash Flow | 265.81M | 211.34M | 408.31M | 189.26M | 235.36M | 124.49M |
| Capital Expenditures | -132.62M | -136.26M | -78.78M | -59.63M | -55.80M | -49.89M |
| Sale of Property, Plant & Equipment | 43.00K | |||||
| Cash Acquisitions | -1.19B | -646.88M | -621.82M | -21.09M | -2.10M | -22.39M |
| Sale (Purchase) of Intangibles | -392.00K | |||||
| Investment in Securities | 1.23B | 58.25M | 209.97M | 93.74M | -773.04M | 325.18M |
| Other Investing Activities | -1.63M | -49.00K | 54.00K | -537.00K | -20.00K | |
| Investing Cash Flow | -101.94M | -724.93M | -490.57M | 12.48M | -830.97M | 252.56M |
| Long-Term Debt Issued | 1.75B | 673.77M | ||||
| Long-Term Debt Repaid | -608.89M | -194.99M | ||||
| Net Debt Issued (Repaid) | -282.55M | 1.14B | 478.77M | |||
| Issuance of Common Stock | 406.07M | 489.55M | 14.58M | 149.21M | 157.13M | |
| Repurchase of Common Stock | -298.34M | -350.98M | -58.18M | -107.89M | -4.87M | -331.31M |
| Other Financing Activities | -4.20M | -27.22M | -1.83M | 124.19M | ||
| Financing Cash Flow | -179.01M | 1.25B | -45.44M | 41.31M | 598.10M | -174.18M |
| Foreign Exchange Rate Adjustments | -2.69M | 7.76M | -6.21M | 2.06M | -3.38M | -1.98M |
| Net Cash Flow | -17.84M | 746.63M | -133.91M | 245.12M | -886.00K | 200.89M |
| Free Cash Flow | 133.19M | 75.08M | 329.53M | 129.63M | 179.56M | 74.61M |
| Free Cash Flow Margin | 4.14% | 2.70% | 15.82% | 8.31% | 15.12% | 8.64% |
| Free Cash Flow Per Share | 1.61 | 0.91 | 4.20 | 1.72 | 2.48 | 1.13 |
| Levered Free Cash Flow | 222.16M | 230.03M | 381.28M | 99.49M | 151.79M | 81.27M |
| Unlevered Free Cash Flow | 293.71M | 288.93M | 385.72M | 103.86M | 151.79M | 81.27M |
| Cash Interest Paid | 110.09M | 57.17M | 3.45M | 3.51M | ||
| Cash Income Tax Paid | 51.12M | 51.12M | 67.84M | 64.49M | 10.51M | 5.11M |
| Change in Working Capital | -489.64M | -481.74M | -72.69M | -124.82M | 19.33M | -43.28M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 34.75B | 45.11B | 45.32B | 19.36B | 11.81B | 10.75B |
| Enterprise Value | 35.91B | 44.77B | 44.89B | 18.89B | 11.45B | 10.17B |
| Last Close Price | 427.77 | 567.93 | 594.32 | 258.33 | 165.93 | 157.00 |
| PE Ratio | 177.91 | 361.91 | 120.20 | 110.12 | 80.37 | |
| Forward PE | 47.98 | 82.19 | 102.43 | 67.61 | 70.38 | 104.85 |
| PS Ratio | 10.80 | 16.23 | 21.76 | 12.40 | 9.95 | 12.45 |
| PB Ratio | 9.46 | 13.91 | 19.47 | 11.98 | 9.31 | 10.26 |
| P/TBV Ratio | 23.26 | 26.93 | 32.47 | 12.58 | 9.75 | 10.87 |
| P/FCF Ratio | 260.91 | 600.88 | 137.53 | 149.33 | 65.76 | 144.08 |
| P/OCF Ratio | 130.74 | 213.47 | 110.99 | 102.28 | 50.17 | 86.34 |
| PEG Ratio | 1.78 | 3.30 | 4.16 | 4.48 | 4.66 | 6.97 |
| EV/Sales Ratio | 11.15 | 16.11 | 21.56 | 12.10 | 9.65 | 11.79 |
| EV/EBITDA Ratio | 217.49 | 836.68 | 417.32 | 107.22 | 98.67 | |
| EV/EBIT Ratio | 644.33 | 758.98 | 120.42 | 123.20 | ||
| EV/FCF Ratio | 269.60 | 596.28 | 136.23 | 145.71 | 63.79 | 136.38 |
| Debt / Equity Ratio | 0.50 | 0.59 | 0.31 | 0.45 | 0.57 | 0.03 |
| Debt / EBITDA Ratio | 9.81 | 25.87 | 5.99 | 3.86 | 5.75 | |
| Debt / FCF Ratio | 13.89 | 25.53 | 2.22 | 5.54 | 4.00 | 0.36 |
| Net Debt / Equity Ratio | 0.32 | 0.06 | -0.11 | -0.37 | -0.20 | -0.40 |
| Net Debt / EBITDA Ratio | 7.01 | 3.42 | -2.37 | -3.42 | -2.22 | 2.78 |
| Net Debt / FCF Ratio | 8.70 | 2.44 | -0.78 | -4.64 | -1.43 | -5.58 |
| Asset Turnover | 0.47 | 0.48 | 0.53 | 0.50 | 0.52 | 0.56 |
| Inventory Turnover | 3.28 | 3.68 | 3.14 | 2.56 | 2.96 | 3.25 |
| Quick Ratio | 1.58 | 2.10 | 1.13 | 2.65 | 2.54 | 2.26 |
| Current Ratio | 2.15 | 2.53 | 1.37 | 3.14 | 3.00 | 2.65 |
| Return on Equity (ROE) | 6.22% | 4.48% | 19.12% | 12.19% | 12.69% | -5.93% |
| Return on Assets (ROA) | 0.51% | -0.32% | 0.94% | 3.13% | 2.56% | -6.85% |
| Return on Invested Capital (ROIC) | 1.18% | -1.08% | 3.79% | 15.49% | 8.47% | -31.41% |
| Return on Capital Employed (ROCE) | 0.90% | -0.50% | 2.10% | 5.90% | 4.10% | -13.20% |
| Earnings Yield | 0.56% | 0.28% | 0.83% | 0.91% | 1.24% | -0.56% |
| FCF Yield | 0.38% | 0.17% | 0.73% | 0.67% | 1.52% | 0.69% |
| Buyback Yield / Dilution | -2.43% | -4.85% | -4.11% | -4.03% | -9.58% | -7.14% |