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AXON ENTERPRISE, INC. AXON

Nasdaq · stock · Ordnance & Accessories, (No Vehicles/Guided Missiles) · website · IPO 2001-05-08 · LEI

AXON ENTERPRISE, INC. statistics & valuation

Market cap$37.5B
P / E300.6×
P / S13.5×
P / B11.6×
P / FCF499.0×
Net margin4.5%
Return on equity3.8%
FCF margin2.7%
Net debt$609.6M
Net debt / EBITDA28.9×
Enterprise value USD$38.1B
Earnings yield EBIT/EV-0.2%
Return on capital-1.1%
Graham number -93.9%$36.57

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($36.57); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
6.40% 1.50% 7.00% 0.20% -0.30% -6.50% 12.40% 11.30% 18.10% 4.50% 2016201720182019202020212022202320242025
Gross margin (%)
63.60% 60.20% 61.60% 57.90% 61.10% 63.00% 61.20% 61.20% 59.60% 59.70% 2016201720182019202020212022202320242025
Operating margin (%)
11.90% 3.80% 5.90% -1.20% -2.10% -18.80% 7.80% 10.00% 2.80% -2.20% 2016201720182019202020212022202320242025
Return on equity (%)
11.50% 3.10% 6.20% 0.20% -0.20% -5.40% 11.60% 10.90% 16.20% 3.80% 2016201720182019202020212022202320242025
Shares outstanding
53.5M 53.9M 58.8M 60.0M 63.8M 70.9M 72.5M 75.5M 78.6M 82.4M 2016201720182019202020212022202320242025
Net debt ($)
$225.4M $609.6M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
6.20% 1.50% 4.10% 0.10% -0.10% -3.30% 5.20% 5.20% 8.40% 1.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
6.00% 2.30% 12.60% 9.40% -5.00% 8.60% 15.10% 8.30% 15.80% 2.70% 2016201720182019202020212022202320242025
Debt / equity (×)
0.29× 0.56× 2016201720182019202020212022202320242025
EPS ($)
$0.32 $0.10 $0.50 $0.01 -$0.03 -$0.91 $2.03 $2.33 $4.80 $1.51 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AXON ENTERPRISE, INC. trades at about 397.2× earnings — above its 10-year norm (10-year range 42.8×–7681×, median 106.9×).

42.8× 7681×

Shaded band = 10-year range (42.8×–7681×); dot = today's 397.2×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin59.7%59.6%61.2%61.2%63.0%61.1%57.9%61.6%60.2%63.6%
Operating margin-2.2%2.8%10.0%7.8%-18.8%-2.1%-1.2%5.9%3.8%11.9%
Net margin4.5%18.1%11.3%12.4%-6.5%-0.3%0.2%7.0%1.5%6.4%
FCF margin2.7%15.8%8.3%15.1%8.6%-5.0%9.4%12.6%2.3%6.0%
Return on assets1.8%8.4%5.2%5.2%-3.3%-0.1%0.1%4.1%1.5%6.2%
Return on equity3.8%16.2%10.9%11.6%-5.4%-0.2%0.2%6.2%3.1%11.5%
Debt / equity0.56×0.29×————————
Current ratio2.531.373.143.002.653.833.123.361.902.27

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.