Axon Enterprise, Inc. (AXON) Financial Ratios
26 years of historical data (2000–2025) · Industrials · Aerospace & Defense
EV/EBITDA
↑
394.28
+14% vs avg
5yr avg: 345.04
30Y Low14.0·High99.7
P/FCF
↑
406.78
↑+62% vs avg
5yr avg: 251.28
30Y Low19.8·High151.1
P/B Ratio
↑
11.74
↓-15% vs avg
5yr avg: 13.81
30Y Low2.0·High20.3
ROE
↑
4.5%
↑-47% vs avg
5yr avg: 8.5%
30Y Low-7%·High54%
Debt/EBITDA
↑
24.09
↑+106% vs avg
5yr avg: 11.72
30Y Low0.0·High39.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AXON Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Axon Enterprise, Inc. trades at 250.5x earnings, 45% above its 5-year average of 172.5x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.7x, the stock trades at a premium of 877%. On a free-cash-flow basis, the stock trades at 406.8x P/FCF, 62% above the 5-year average of 251.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $30.5B | $56.8B | $46.7B | $19.5B | $12.0B | $10.4B | $7.6B | $4.4B | $2.5B | $1.4B | $1.3B |
| Enterprise Value | $31.3B | $57.5B | $47.6B | $19.6B | $12.4B | $10.1B | $7.4B | $4.2B | $2.2B | $1.4B | $1.3B |
| P/E Ratio → | 250.50 | 373.64 | 123.82 | 110.87 | 81.74 | — | — | 4985.03 | 87.50 | 265.00 | 75.75 |
| P/S Ratio | 10.99 | 20.43 | 22.42 | 12.49 | 10.11 | 12.04 | 11.12 | 8.28 | 6.03 | 4.15 | 4.84 |
| P/B Ratio | 11.74 | 17.51 | 20.06 | 12.06 | 9.49 | 9.92 | 7.75 | 8.09 | 5.42 | 8.53 | 8.60 |
| P/FCF | 406.78 | 756.42 | 141.68 | 151.11 | 67.14 | 140.02 | — | 89.16 | 48.57 | 202.68 | 136.99 |
| P/OCF | 144.51 | 268.73 | 114.35 | 102.99 | 51.14 | 83.47 | 196.72 | 66.97 | 39.67 | 77.25 | 72.40 |
P/E links to full P/E history page with 30-year chart
AXON EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Axon Enterprise, Inc.'s enterprise value stands at 394.3x EBITDA, 14% above its 5-year average of 345.0x. The Industrials sector median is 13.7x, placing the stock at a 2787% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 20.69 | 22.87 | 12.56 | 10.41 | 11.65 | 10.89 | 7.96 | 5.20 | 3.94 | 4.69 |
| EV / EBITDA | 394.28 | 725.50 | 445.34 | 109.67 | 99.65 | — | — | 674.30 | 58.33 | 64.24 | 35.11 |
| EV / EBIT | 9999.00 | 311.75 | 122.58 | 119.50 | 63.06 | — | — | 2041.48 | 77.73 | 85.86 | 39.91 |
| EV / FCF | — | 765.86 | 144.56 | 151.98 | 69.14 | 135.50 | — | 85.67 | 41.87 | 192.03 | 132.71 |
AXON Profitability
Margins and return-on-capital ratios measuring operating efficiency
Axon Enterprise, Inc. earns an operating margin of 0.0%, below the Industrials sector average of 4.7%. Operating margins have compressed from 10.2% to 0.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 4.5% is modest, trailing the sector median of 8.2%. ROIC of 0.0% represents below-average returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.7% | 59.7% | 59.6% | 61.2% | 61.2% | 61.5% | 61.1% | 57.9% | 61.6% | 60.2% | 63.6% |
| Operating Margin | 0.0% | 0.0% | 2.8% | 10.2% | 7.8% | -19.3% | -2.1% | -1.0% | 6.4% | 3.8% | 12.0% |
| Net Profit Margin | 4.5% | 4.5% | 18.1% | 11.3% | 12.4% | -7.0% | -0.3% | 0.2% | 7.0% | 1.5% | 6.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.5% | 4.5% | 19.1% | 12.2% | 12.7% | -5.9% | -0.2% | 0.2% | 9.2% | 3.3% | 11.2% |
| ROA | 2.2% | 2.2% | 9.6% | 5.6% | 6.5% | -3.9% | -0.2% | 0.1% | 5.5% | 1.7% | 6.8% |
| ROIC | 0.0% | 0.0% | 1.8% | 7.1% | 6.0% | -16.3% | -1.8% | -1.6% | 19.2% | 9.6% | 23.2% |
| ROCE | 0.0% | 0.0% | 2.2% | 6.5% | 5.3% | -13.9% | -1.6% | -0.8% | 6.8% | 6.1% | 16.4% |
AXON Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Axon Enterprise, Inc. carries a Debt/EBITDA ratio of 24.1x, which is highly leveraged (677% above the sector average of 3.1x). Net debt stands at $709M ($1.9B total debt minus $1.2B cash). Interest coverage of just 0.0x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.59 | 0.59 | 0.60 | 0.44 | 0.56 | 0.02 | — | — | — | 0.00 | 0.00 |
| Debt / EBITDA | 24.09 | 24.09 | 13.11 | 3.98 | 5.72 | — | — | — | — | 0.00 | 0.00 |
| Net Debt / Equity | — | 0.22 | 0.41 | 0.07 | 0.28 | -0.32 | -0.16 | -0.32 | -0.75 | -0.45 | -0.27 |
| Net Debt / EBITDA | 8.94 | 8.94 | 8.85 | 0.63 | 2.87 | — | — | -27.49 | -9.33 | -3.56 | -1.13 |
| Debt / FCF | — | 9.44 | 2.87 | 0.87 | 1.99 | -4.53 | — | -3.49 | -6.70 | -10.65 | -4.28 |
| Interest Coverage | 0.01 | 0.01 | 8.25 | 22.79 | — | — | -141.50 | — | — | — | — |
AXON Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Axon Enterprise, Inc.'s current ratio of 2.53x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 3.14x to 2.53x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.53 | 2.53 | 1.37 | 3.14 | 3.00 | 2.65 | 3.83 | 3.17 | 3.36 | 1.90 | 2.27 |
| Quick Ratio | 2.29 | 2.29 | 1.21 | 2.79 | 2.66 | 2.39 | 3.48 | 2.97 | 3.16 | 1.48 | 1.82 |
| Cash Ratio | 1.16 | 1.16 | 0.59 | 1.73 | 1.62 | 1.06 | 2.19 | 1.79 | 2.11 | 0.76 | 1.14 |
| Asset Turnover | — | 0.40 | 0.47 | 0.46 | 0.42 | 0.51 | 0.49 | 0.63 | 0.58 | 1.02 | 0.96 |
| Inventory Turnover | 3.28 | 3.28 | 3.17 | 2.24 | 2.28 | 3.06 | 2.94 | 5.76 | 4.78 | 3.01 | 2.80 |
| Days Sales Outstanding | — | 125.50 | 160.46 | 163.75 | 170.27 | 211.90 | 157.12 | 127.19 | 125.59 | 59.52 | 53.70 |
AXON Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Axon Enterprise, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.4% | 0.3% | 0.8% | 0.9% | 1.2% | — | — | 0.0% | 1.1% | 0.4% | 1.3% |
| FCF Yield | 0.2% | 0.1% | 0.7% | 0.7% | 1.5% | 0.7% | — | 1.1% | 2.1% | 0.5% | 0.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.6% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.6% |
| Shares Outstanding | — | $100M | $79M | $75M | $73M | $66M | $62M | $60M | $58M | $54M | $54M |
Peer Comparison
Compare AXON with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AXONYou | $31B | 250.5 | 394.3 | 406.8 | 59.7% | 0.0% | 4.5% | 0.0% | 24.1 |
 MSA | $7B | 23.8 | 14.8 | 22.2 | 46.5% | 21.4% | 22.2% | 17.9% | 1.3 |
 VNET | $2B | 87.6 | 15.0 | — | 22.2% | 8.1% | 2.7% | 2.4% | 8.3 |
 MSI | $73B | 34.4 | 24.2 | 28.2 | 51.7% | 25.2% | 103.9% | 25.2% | 3.0 |
 DGLY | $2M | -0.2 | — | — | 27.9% | -77.4% | -1629.9% | -114.7% | — |
 WRAP | $81M | -6.6 | — | — | 51.9% | -259.2% | -176.1% | -218.1% | — |
 SFST | $536M | 15.1 | 17.4 | 18.0 | 51.3% | 17.6% | 8.7% | 4.8% | 6.0 |
 CRNC | $444M | -22.9 | 24.9 | 9.5 | 72.1% | 5.2% | -12.8% | 3.2% | 9.7 |
 SPSC | $2B | 23.7 | 11.6 | 14.3 | 64.2% | 15.7% | 10.2% | 12.2% | 0.1 |
 CDNS | $98B | 87.1 | 51.6 | 61.5 | 86.4% | 31.1% | 21.9% | 25.9% | 1.3 |
 ARLO | $2B | 105.2 | 231.8 | 23.1 | 44.0% | 1.1% | 13.1% | 35.9% | 1.1 |
| Industrials Median | — | 25.7 | 13.7 | 21.2 | 33.0% | 4.7% | 8.2% | 6.3% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Full AXON Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See AXON's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs AXON Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare AXON vs MSA
Side-by-side business, growth, and profitability comparison vs MSA Safety Incorporated.
Start ComparisonAXON — Frequently Asked Questions
Quick answers to the most common questions about buying AXON stock.
What is Axon Enterprise, Inc.'s P/E ratio?
Axon Enterprise, Inc.'s current P/E ratio is 250.5x. The historical average is 76.8x. This places it at the 100th percentile of its historical range.
What is Axon Enterprise, Inc.'s EV/EBITDA?
Axon Enterprise, Inc.'s current EV/EBITDA is 394.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 44.1x.
What is Axon Enterprise, Inc.'s ROE?
Axon Enterprise, Inc.'s return on equity (ROE) is 4.5%. The historical average is 10.0%.
Is AXON stock overvalued?
Based on historical data, Axon Enterprise, Inc. is trading at a P/E of 250.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Axon Enterprise, Inc.'s profit margins?
Axon Enterprise, Inc. has 59.7% gross margin and 0.0% operating margin.
How much debt does Axon Enterprise, Inc. have?
Axon Enterprise, Inc.'s Debt/EBITDA ratio is 24.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.