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Axon Enterprise (AXON) | Financial Analysis & Statements

Axon Enterprise, Inc. | Large-cap | Industrials

$768.57

-6.12%

Axon Enterprise vs General Electric Axon Enterprise vs RTX Axon Enterprise vs Boeing Axon Enterprise vs Lockheed Martin Axon Enterprise vs General Dynamics Axon Enterprise vs S&P 500 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 603.6M

Gross Profit 365.7M 60.59%

Operating Income -8.8M -1.46%

Net Income 88.0M 14.58%

EPS (Diluted) $1.08

Balance Sheet Metrics

Total Assets 6.2B

Total Liabilities 3.5B

Shareholders Equity 2.7B

Debt to Equity 1.27

Cash Flow Metrics

Operating Cash Flow 188.6M

Free Cash Flow 932.0K

Revenue & Profitability Trend

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Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Axon Enterprise Income Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Revenue i	2.1B	1.6B	1.2B	863.4M	681.0M
Cost of Goods Sold i	841.1M	608.0M	461.3M	322.5M	264.7M
Gross Profit i	1.2B	955.4M	728.6M	540.9M	416.3M
Gross Margin % i	59.6%	61.1%	61.2%	62.7%	61.1%
Operating Expenses
Research & Development i	441.6M	303.7M	233.8M	194.0M	123.2M
Selling, General & Administrative i	741.2M	496.9M	401.6M	515.0M	307.3M
Other Operating Expenses i	-	-	-	-	-
Total Operating Expenses i	1.2B	800.6M	635.4M	709.0M	430.5M
Operating Income i	58.5M	154.8M	93.3M	-168.1M	-14.2M
Operating Margin % i	2.8%	9.9%	7.8%	-19.5%	-2.1%
Non-Operating Items
Interest Income i	43.7M	49.1M	4.8M	1.5M	7.9M
Interest Expense i	7.1M	7.0M	488.0K	-	-
Other Non-Operating Income	286.4M	-41.9M	99.0M	25.3M	-
Pre-tax Income i	381.5M	155.0M	196.5M	-141.4M	-6.3M
Income Tax i	4.5M	-19.2M	49.4M	-81.4M	-4.6M
Effective Tax Rate % i	1.2%	-12.4%	25.1%	0.0%	0.0%
Net Income i	377.0M	174.2M	147.1M	-60.0M	-1.7M
Net Margin % i	18.1%	11.1%	12.4%	-7.0%	-0.3%
Key Metrics
EBITDA i	150.3M	236.9M	123.3M	-149.4M	-1.7M
EPS (Basic) i	$4.98	$2.35	$2.07	$-0.91	$-0.03
EPS (Diluted) i	$4.80	$2.31	$2.03	$-0.91	$-0.03
Basic Shares Outstanding i	75748000	74195000	71093000	66191000	61782000
Diluted Shares Outstanding i	75748000	74195000	71093000	66191000	61782000

Income Statement Trend

Axon Enterprise Balance Sheet From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Assets
Current Assets
Cash & Equivalents i	454.8M	598.5M	353.7M	356.3M	155.4M
Short-term Investments i	531.5M	722.0M	621.0M	86.7M	406.5M
Accounts Receivable i	547.6M	417.7M	358.2M	320.8M	229.2M
Inventory i	265.3M	269.9M	202.5M	108.7M	90.0M
Other Current Assets	130.3M	112.8M	73.0M	56.5M	36.9M
Total Current Assets i	2.3B	2.4B	1.8B	1.1B	982.0M
Non-Current Assets
Property, Plant & Equipment i	193.5M	141.4M	95.5M	77.4M	59.8M
Goodwill i	1.7B	135.4M	102.1M	102.7M	59.9M
Intangible Assets i	175.2M	19.5M	12.2M	15.5M	9.4M
Long-term Investments	-	-	-	-	2.2M
Other Non-Current Assets	617.2M	491.7M	323.3M	231.9M	111.8M
Total Non-Current Assets i	2.2B	1.0B	1.0B	578.7M	399.1M
Total Assets i	4.5B	3.4B	2.9B	1.7B	1.4B
Liabilities
Current Liabilities
Accounts Payable i	72.0M	88.3M	59.9M	32.2M	24.1M
Short-term Debt i	680.3M	-	-	-	-
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	12.9M	9.8M	6.4M	6.5M	5.4M
Total Current Liabilities i	1.7B	800.0M	602.6M	418.5M	256.3M
Non-Current Liabilities
Long-term Debt i	41.4M	710.7M	711.1M	20.4M	-
Deferred Tax Liabilities i	-	0	1.0K	811.0K	649.0K
Other Non-Current Liabilities	51.1M	21.0M	15.4M	9.2M	31.8M
Total Non-Current Liabilities i	469.0M	1.0B	980.8M	221.8M	148.4M
Total Liabilities i	2.1B	1.8B	1.6B	640.4M	404.8M
Equity
Common Stock i	1.0K	1.0K	1.0K	1.0K	1.0K
Retained Earnings i	812.0M	431.2M	257.0M	109.9M	169.9M
Treasury Stock i	155.9M	155.9M	155.9M	155.9M	155.9M
Other Equity	-	-	-	-	-
Total Shareholders Equity i	2.3B	1.6B	1.3B	1.0B	976.3M
Key Metrics
Total Debt i	721.7M	710.7M	711.1M	20.4M	0
Working Capital i	619.6M	1.6B	1.2B	691.0M	725.6M

Balance Sheet Composition

Axon Enterprise Cash Flow Statement From 2020 to 2024

Metric	2024	2023	2022	2021	2020
Operating Activities
Net Income i	377.0M	174.2M	147.1M	-60.0M	-1.7M
Depreciation & Amortization i	48.4M	32.6M	24.4M	18.7M	12.5M
Stock-Based Compensation i	382.6M	131.4M	106.2M	303.3M	133.6M
Working Capital Changes i	-35.1M	-16.0M	71.3M	-3.1M	-85.9M
Operating Cash Flow i	709.1M	249.8M	386.5M	187.7M	50.0M
Investing Activities
Capital Expenditures i	-78.8M	-59.5M	-55.5M	-49.8M	-72.5M
Acquisitions i	-621.8M	-21.1M	-2.1M	-22.4M	0
Investment Purchases i	-793.4M	-563.7M	-845.2M	-408.0M	-663.6M
Investment Sales i	1.0B	657.4M	72.1M	733.2M	379.8M
Investing Cash Flow i	-490.6M	13.1M	-830.7M	252.9M	-356.3M
Financing Activities
Share Repurchases i	-	-	-74.0K	-	-
Dividends Paid i	-	-	-	-	-
Debt Issuance i	0	0	673.8M	0	0
Debt Repayment i	-	-	-	-	-
Financing Cash Flow i	-60.0M	-13.2M	473.8M	-225.8M	299.0M
Free Cash Flow i	329.5M	129.0M	179.3M	74.2M	-34.4M
Net Change in Cash i	158.5M	249.8M	29.7M	214.8M	-7.3M

Cash Flow Trend

Axon Enterprise Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 181.81

Forward P/E 119.35

Price to Book 21.26

Price to Sales 24.29

PEG Ratio 119.35

Profitability Ratios

Profit Margin 13.64%

Operating Margin 0.03%

Return on Equity 14.00%

Return on Assets 0.25%

Financial Health

Current Ratio 2.95

Debt to Equity 75.08

Beta 1.36

Per Share Data

EPS (TTM) $4.07

Book Value per Share $34.81

Revenue per Share $31.16

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
axon	58.1B	181.81	21.26	14.00%	13.64%	75.08
General Electric	291.6B	39.23	15.24	39.57%	18.64%	103.37
RTX	207.3B	34.04	3.32	10.32%	7.35%	67.86
Boeing	175.9B	-12.71	-53.57	303.40%	-14.18%	-16.88
Lockheed Martin	99.4B	23.87	18.51	73.06%	5.85%	405.66
General Dynamics	84.5B	21.10	3.58	17.92%	8.13%	45.03

Financial data is updated regularly. All figures are in the company's reporting currency.