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Axon Enterprise (AXON) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Axon Enterprise
NasdaqGS•Industrials•Aerospace & Defense
$453.50-14.92(-0.03%)After hours
Market Cap
$36.27B
P/E
182.0x
P/S
11.3x
P/B
9.9x

Axon Enterprise, Inc. provides public safety technology solutions in the United States and internationally. The company operates in two segments, Software and Services, and Connected Devices. The Software and Services segment develops, manufactures, and sells cloud-based software-as-a-service solutions to capture, store, manage, share, and analyze video and other digital evidence. This segment also offers Axon Evidence, Draft One, Axon Records, Axon Standards, Axon Fusus, Axon Assistant, and others. The Connected Devices segment engages in the development, manufacture, and sale of integrated hardware solutions, such as conducted energy devices under the TASER brand, body cameras, fixed and in-car cameras, drone and counter-drone technologies, accessories, extended warranties, and related hardware products, as well as virtual reality training hardware. The company serves first responders across international, federal, state, and local governments, international governmental entities, commercial enterprises, and consumers through direct sales, distribution partners, and third-party resellers. The company was formerly known as TASER International, Inc. and changed its name to Axon Enterprise, Inc. in April 2017. Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona.

C

How this company scores

AverageMetricSide Score: 46/100

Strongest: Balance Sheet & Red Flags (18/25); weakest: Cash & Earnings Quality (5/25).

Profitability9/25
Growth14/25
Balance Sheet & Red Flags18/25
Cash & Earnings Quality5/25
Strengths
Growing revenueLow leverageImproving leverageConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 182.0x5y range 48.2x – 362.7x
P/E 182.0x · above its 18-quarter median

Currently above its 18-quarter median.

P/S · 11.3x5y range 6.9x – 27.0x
P/S 11.3x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 9.9x5y range 5.7x – 23.6x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg 5.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume
Market Cap $36.27B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$3.22B
7Q
Q. Revenue
$904.39M
7Q
TTM EBITDA
$169.91M
2Q
TTM Op. Income
$23.77M
2Q
Q. Op. Income
$46.78M
2Q
TTM Net Income
$199.30M
39%
Q. Net Income
$29.43M
19%
EPS
$0.37
20%
Shares Out.
$80.57M
7Q
$3.22B in TTM revenue grew 34.7% YoY, reaching $904.39M last quarter. TTM EBITDA of $169.91M and TTM operating income of $23.77M show growth is flowing through to the bottom line. TTM net income of $199.30M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
60.4%
2Q
EBITDA Margin
8.8%
2Q
Op. Margin
5.2%
2Q
Net Margin
3.3%
40%
Op. margin of 5.2% is up 5.3% YoY — cost efficiency is improving. Net margin at 3.3% and gross margin of 60.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
182.0x
8%
P/S Ratio
11.3x
58%
P/B Ratio
9.9x
58%
At 182.0x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 11.3x and P/B of 9.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 8% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$7.48B
7Q
Cash
$597.70M
3%
Long-Term Debt
$1.73B
5Q
Book Value
$3.67B
7Q
D/E Ratio
0.5
5Q
Debt/EBITDA
21.9
2Q
With $7.48B in assets and $1.73B in long-term debt, D/E is 0.5and book value is $3.67B — a conservative capital structure with a cushion to weather downturns. Across the last 6 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$20.08M
122%
TTM Free Cash Flow
$133.19M
25%
FCF Margin
4.1%
44%
FCF / Net Income
0.7
24%
TTM FCF of $133.19M on $20.08M in operating cash flow. The FCF / Net Income ratio of 0.7x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is down 25% — an improving trend.

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· near its 20-quarter median

Currently near its 20-quarter median.

Cash Burn

Watch

FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.

Share Dilution

Red Flag

Shares outstanding increased 6.4% — significant dilution, likely from stock compensation or capital raises.