Axon Enterprise, Inc. (AXON)
NEUTRALFondamental
43
Prix
$613.39
Capitalisation boursière
$48.55B
Partie 1 · Ce que vaut l'entreprise
Vue d'ensemble
Axon started as the maker of the TASER stun gun and now sells a wider ecosystem of public-safety equipment: body cameras, in-car cameras, counter-drone systems, and Evidence.com, a cloud service that stores and manages all the video and data those devices capture. Its customers are almost entirely police departments, federal agencies and other public-safety organizations rather than individual consumers, and its equipment is designed to work together as one connected system.
Comment l'entreprise gagne de l'argent
Hardware like TASER devices and cameras is sold or leased to agencies, while Evidence.com is billed as a multi-year cloud subscription that stores, indexes and shares the video those devices generate for use as courtroom evidence. Agencies increasingly buy hardware and software together in bundled, multi-year contracts negotiated once and renewed automatically, which locks in a recurring revenue stream that now makes up close to half of total sales and grows every year the contract stays in place.
Chiffre d'affaires par segment
TASER devices, body and in-car cameras, drones and other hardware sold or leased to public-safety agencies.
Evidence.com and related cloud subscriptions that store, manage and share video and data captured by Axon's hardware.
Avantage concurrentiel
Coûts de changement · LargeOnce a police department stores years of body-camera footage and case evidence in Evidence.com, moving that archive to a rival system means migrating data that may be needed as legal evidence for years, a risk most agencies will not take on lightly. Axon's dominant position in TASER devices and cameras, built over two decades of agency relationships, reinforces the same lock-in on the hardware side.
Ce qui stimule la demande
Modérément cycliqueCustomers are government agencies buying with taxpayer-funded budgets and multi-year procurement cycles, so demand does not track consumer spending directly, but it is still constrained by municipal and state budget conditions and can slow when local governments face fiscal pressure. Multi-year bundled contracts also smooth revenue by locking in future subscription payments regardless of near-term budget swings.
Principaux risques
- Dependence on public-sector budgets — Nearly all revenue comes from government agencies whose purchasing depends on approved budgets and grants; funding cuts or delayed appropriations can push out or shrink orders.
- Product liability from weapons and force — TASER devices are designed to be used as a use-of-force tool, and injuries or deaths associated with their use can result in litigation and reputational damage regardless of fault.
- Political scrutiny of policing technology — Public debate over policing practices and AI-enabled surveillance features can lead to restrictions, contract cancellations or reputational pressure that affects Axon's ability to sell or deploy new products.
- Competition from established security vendors — Motorola Solutions and other public-safety technology vendors compete for the same agency contracts and can bundle radios, cameras and software in ways that pressure Axon's share.
Les arguments en faveur
Buyers argue that once an agency's evidence archive lives in Evidence.com, the legal and operational risk of migrating it keeps customers locked in for years, that bundling hardware and cloud software into multi-year contracts gives Axon unusually visible recurring revenue for a hardware company, and that its dominant share of the TASER and body-camera market is difficult for a new entrant to challenge.
Les arguments contre
Sellers fear that dependence on government budgets exposes revenue to fiscal pressure at the municipal and state level, that product-liability litigation tied to use-of-force incidents carries open-ended legal risk, and that political controversy over AI-enabled surveillance features could restrict Axon's ability to sell some of its newer, higher-margin products.
Written by the editors, published on 18 août 2026
Direct competitors
Who this company fights with for the same customers
Generated on 23 août 2026 with claude-opus-5 — shared with all users
Motorola Solutions bids against Axon for the same police-department contracts with a rival bundle of body-worn and in-car cameras (WatchGuard), digital evidence management, dispatch and records software, and drone programs.
Flock Safety sells US law-enforcement agencies the same license-plate-reading cameras, real-time crime centre software (FlockOS) and response drones that Axon offers with Lightpost, Fusus and Axon Air.
The Canadian private company competes for the same public-safety budgets with AutoVu license-plate recognition and the Citigraf real-time crime centre platform, set against Axon Lightpost and Axon Fusus.
Digital Ally supplies body-worn and in-car video with cloud evidence management to the same US police departments and commercial fleets, and is routinely the cost-conscious alternative in bids Axon also enters.
Byrna's pepper-projectile launchers are named in Axon's own 10-K as a less-lethal alternative to the TASER, both for police forces and for the personal-safety consumer that Axon now targets with TASER for civilians.
Wrap sells the BolaWrap remote restraint device to the same police agencies deciding how to spend a less-lethal budget, positioning it as the tool an officer reaches for instead of a TASER.
Bilan & Liquidités
Chiffre d'affaires
$3.22B
12 derniers mois (au 30/06/2026)
Résultat net
$199M
12 derniers mois (au 30/06/2026)
Flux de trésorerie libre
$75M
Capitaux propres totaux
$3.24B
Passif total
$3.76B
Ratio de liquidité général
2.15
Couverture des intérêts
0.21
Dette/EBITDA
86.96
Bénéfice par action
Chiffre d'affaires & Résultat net
Flux de trésorerie libre
Décomposition du résultat
État historique
Marges dans le temps
La dette dans le temps
Le poids de la dette
Grille de la croissance
Croissance — Chiffre d'affaires
Estimation de la juste valeur
Juste valeur
$464.28
Prix actuel
$613.39
Marge de sécurité
-32.1%
Fourchette de juste valeur
$301.78 - $626.77
Méthodes d'estimation
Indicateurs de valorisation
Ratio P/E
249.00
ROE
3.8%
Ratio P/B
13.21
P/FCF
364.49
Marge brute
59.4%
ROIC
0.3%
Radar de rentabilité
Value Creation (Economic Moat)
ROIC
0.3%
WACC
12.1%
ROIC − WACC
-11.8 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Critères d'analyse fondamentale
Réussi (11)
- EPS shows upward trend
- Price CAGR 38.47%
- Gross Margin 59.4%
- Debt/Equity ratio
- Positive Free Cash Flow
- Current Ratio
- Return on Tangible Assets
- Revenue Growth 5Y 32.5%
- Analyst Consensus 89% Buy
- Earnings Quality (OCF/NI) 1.33
- Piotroski F-Score 5/9
Échoué (14)
- ROIC 0.3%
- P/FCF 364.49
- P/B Ratio 13.21
- Operating Margin 0.7%
- CapEx intensity
- Interest Coverage
- Debt/EBITDA
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- ROE 5.9%
- Earnings Surprise avg 1.3%
- Share Dilution 5.1%
- Net Margin Trend 6.2% vs 13.6%
Indisponible (2)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
Score F de Piotroski
Signaux mixtes : certains domaines nécessitent attention
Qualité des bénéfices
Qualité élevée : bénéfices soutenus par la trésorerie
Dilution du capital
Émission de nouvelles actions, diluant la participation
Gouvernance
Équipe dirigeante
| Nom | Titre | Âge |
|---|---|---|
| Mr. Patrick W. Smith | Founder, CEO & Director | 54 |
| Mr. Joshua M. Isner | President | 39 |
| Ms. Brittany Bagley | COO & CFO | 42 |
| Mr. Jeffrey C. Kunins | Chief Product Officer & CTO | 50 |
| Mr. Cameron Brooks | Chief Revenue Officer | 55 |
| Ms. Jennifer H. Mak | Chief Accounting Officer | 50 |
| Mr. Erik Taylor Lapinski | Senior Director of Investor Relations | - |
| Mr. Isaiah Fields | Corporate Secretary & Chief Legal Officer | 48 |
| Ms. Abigail Stock B.A. | Executive Vice President of Marketing & Communications | - |
| Ms. Elizabeth Coughlin | Chief Human Officer | 39 |
Risque d'audit
10
Risque du conseil
4
Risque de rémunération
10
Risque droits des actionnaires
5
Partie 2 · Le prix et le moment d'entrer
Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.
Latest News
Recent headlines for AXON, sourced from Markets Gazette.
- 4/9/2026POSITIVE$100 Invested In Axon Enterprise 5 Years Ago Would Be Worth This Much Today
An investment of $100 in Axon Enterprise Inc. five years prior to April 9, 2026, would have grown to a substantial value, indicating significant stock performance over the period. While the exact figure is not provided, the framing suggests a strong positive return, likely outperforming broader market indices. This performance underscores Axon's growth trajectory and its increasing market valuation, making it a noteworthy stock for investors focused on technology and public safety sectors.
- 3/26/2026POSITIVEHere's How Much $1000 Invested In Axon Enterprise 5 Years Ago Would Be Worth Today
An investment of $1000 in Axon Enterprise Inc. (AXON) five years ago would have grown to approximately $7,860 today, representing a staggering 686% return. This performance significantly outpaces the broader market, highlighting the company's robust growth trajectory and strong investor returns. Axon, a leader in law enforcement technology, has consistently delivered innovation and expanded its product suite, driving substantial shareholder value. For investors, this historical performance underscores AXON's potential as a long-term growth stock.
- 2/27/2026POSITIVEHere's How Much $100 Invested In Axon Enterprise 5 Years Ago Would Be Worth Today
A retrospective analysis indicates that a $100 investment in Axon Enterprise five years ago would have yielded significant capital appreciation. This hypothetical data underscores the company's robust growth and market performance within the public safety and related technology sector. Axon, renowned for its body cameras, tasers, and cloud-based software solutions, has successfully capitalized on the increasing demand for law enforcement tools, demonstrating a strong expansion trajectory. The company's ability to innovate and broaden its product and service offerings has clearly rewarded long-term investors, positioning the stock as a success story in the technology landscape.
- 2/26/2026NEGATIVEAxon Stock Is On Fire, But Here's the Bad News
Axon Enterprise Inc. is experiencing accelerated growth, a factor that might initially excite investors. However, a closer look reveals a concerning discrepancy: the company's profitability is failing to keep pace with its revenue expansion. This gap serves as a red flag for the market, as growth not accompanied by sustainable profits can erode shareholder value in the long term. Investors might interpret this news as a sign of operational inefficiencies or aggressive investments that are not yet yielding adequate returns. The challenge for Axon will be to demonstrate a clear trajectory towards improved profitability to justify its current and future valuation.
- 2/26/2026POSITIVEAxon Enterprise Stuns the Market With Huge Q4 Earnings Beat
Axon Enterprise (AXON) has delivered a stunning fourth-quarter earnings beat, providing a much-needed boost to investor confidence after a challenging start to 2026. The stock had previously plummeted 22% year-to-date and traded roughly 50% below its 52-week high, largely due to widespread fears of an "AI disruption" and a "SaaS-pocalypse" impacting software vendors. This exceptional performance suggests the company is effectively navigating industry headwinds, potentially alleviating concerns about margin compression and pricing power. The strong results could trigger a significant rebound for the stock, offering a positive signal for the broader tech sector, which has faced skepticism regarding sustainable growth in the generative AI era. Investors should closely watch market reaction to determine if this earnings beat marks a turning point for Axon.
- 2/25/2026POSITIVEWhy Axon Enterprise Stock Was Soaring Today
Axon Enterprise Inc. experienced a significant surge in its stock value today after announcing fourth-quarter earnings that substantially exceeded analyst expectations. This exceptional performance underscores robust growth and effective management, reassuring investors about the company's future trajectory. The 'blow out' of estimates suggests strong demand for Axon's products and services, which include body cameras and tasers, reinforcing its leadership position in the public safety technology sector. Investors should monitor whether this momentum translates into sustained growth in upcoming quarters, but the current market reaction is a clear signal of confidence.
- 2/24/2026NEUTRALAxon (AXON) Q4 2025 Earnings Call Transcript
Axon (AXON) investors are awaiting crucial details from the Q4 2025 earnings call transcript, which took place on February 24, 2026. While the specific content is not yet available, this event represents a key moment to assess the company's financial performance and future outlook. Earnings calls are fundamental for understanding growth strategies, profit margins, and management forecasts, directly influencing investment decisions. The market will closely monitor any indications regarding revenues, earnings per share, and guidance for upcoming periods, which could determine the stock's direction in the short to medium term.
via Markets Gazette