AXONAxon Enterprise

Industrials · Defense · Nasdaq

Axon Enterprise, Inc. (“Axon,” the “Company,” “we” or “us”) is a technology company that provides integrated hardware and software solutions. 10-K, Item 1

Employees: 5,100
Headquarters: Scottsdale, AZ
CEO: Patrick W. Smith
Next results: around Feb 23, 2027

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AXON and 9 peers, year by year

The 9 Industrials companies closest to AXON in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Gross margin	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
AXON Axon Enterprise	FY2025	$2.8B	+33.5%	59.7%	−2.2%	4.5%	2.7%	3.8%	0.56
VRSK Verisk Analytics	FY2025	$3.1B	+6.6%	-	43.7%	29.6%	38.8%	n/m	n/m
IEX IDEX Corporation	FY2025	$3.5B	+5.8%	44.5%	20.2%	14.0%	17.8%	12.0%	0.45
AOS A. O. Smith	FY2025	$3.8B	+0.3%	38.8%	19.0%	14.3%	14.3%	29.4%	0.08
BE Bloom Energy	FY2025	$2.0B	+38.9%	29.0%	3.6%	−4.3%	2.8%	−11.3%	3.41
NDSN Nordson Corporation	FY2025	$2.8B	+3.8%	-	25.5%	17.4%	23.7%	15.9%	0.66
PNR Pentair	FY2025	$4.2B	+2.3%	40.5%	20.5%	15.7%	17.9%	16.9%	0.42
ROL Rollins, Inc.	FY2025	$3.8B	+11.0%	-	19.3%	14.0%	17.3%	38.3%	0.44
ALLE Allegion	FY2025	$4.1B	+7.8%	-	21.1%	15.8%	16.9%	31.1%	0.96
FTV Fortive	FY2025	$4.2B	+1.9%	63.5%	17.3%	13.9%	23.5%	9.0%	0.50

Revenuepeer median $3.8B

Sales growthpeer median +5.8%

Gross marginpeer median 40.5%

FTV 63.5%
AXON 59.7%
IEX 44.5%
PNR 40.5%
AOS 38.8%
BE 29.0%
VRSK -
NDSN -
ROL -
ALLE -

Operating marginpeer median 20.2%

Net marginpeer median 14.3%

FCF marginpeer median 17.8%

Return on equitypeer median 16.4%

Debt / equitypeer median 0.48

BE 3.41
ALLE 0.96
NDSN 0.66
AXON 0.56
FTV 0.50
IEX 0.45
ROL 0.44
PNR 0.42
AOS 0.08
VRSK n/m

RevenueSales growthGross marginOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	$268.2M	$343.8M	$420.1M	$530.9M	$681.0M	$863.4M	$1.2B	$1.6B	$2.1B	$2.8B
VRSK Dec	$2.0B	$2.1B	$2.4B	$2.6B	$2.3B	$2.5B	$2.5B	$2.7B	$2.9B	$3.1B
IEX Dec	$2.1B	$2.3B	$2.5B	$2.5B	$2.4B	$2.8B	$3.2B	$3.3B	$3.3B	$3.5B
AOS Dec	$2.7B	$3.0B	$3.2B	$3.0B	$2.9B	$3.5B	$3.8B	$3.9B	$3.8B	$3.8B
BE Dec	$208.5M	$365.6M	$632.6M	$785.2M	$794.2M	$972.2M	$1.2B	$1.3B	$1.5B	$2.0B
NDSN Oct	$1.8B	$2.1B	$2.3B	$2.2B	$2.1B	$2.4B	$2.6B	$2.6B	$2.7B	$2.8B
PNR Dec	$4.9B	$4.9B	$3.0B	$3.0B	$3.0B	$3.8B	$4.1B	$4.1B	$4.1B	$4.2B
ROL Dec	-	$1.7B	$1.8B	$2.0B	$2.2B	$2.4B	$2.7B	$3.1B	$3.4B	$3.8B
ALLE Dec	$2.2B	$2.4B	$2.7B	$2.9B	$2.7B	$2.9B	$3.3B	$3.7B	$3.8B	$4.1B
FTV Dec	$6.2B	$6.7B	$6.5B	$4.6B	$4.6B	$5.3B	$5.8B	$3.9B	$4.1B	$4.2B
Peer median	$2.2B	$2.3B	$2.5B	$2.6B	$2.4B	$2.8B	$3.2B	$3.3B	$3.4B	$3.8B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	+35.6%	+28.2%	+22.2%	+26.4%	+28.3%	+26.8%	+37.8%	+31.5%	+33.4%	+33.5%
VRSK Dec	+13.3%	+7.5%	+11.6%	+8.9%	+6.8%	+8.5%	+1.4%	+7.4%	+7.5%	+6.6%
IEX Dec	+4.6%	+8.2%	+8.6%	+0.4%	−5.7%	+17.6%	+15.1%	+2.9%	−0.2%	+5.8%
AOS Dec	-	+11.6%	+6.4%	−6.1%	−3.3%	+22.2%	+6.1%	+2.6%	−0.9%	+0.3%
BE Dec	-	+80.3%	+73.0%	+26.0%	+0.9%	+24.0%	+25.2%	+11.8%	+13.6%	+38.9%
NDSN Oct	+7.1%	+14.3%	+9.1%	−2.7%	−3.3%	+11.4%	+9.7%	+1.5%	+2.3%	+3.8%
PNR Dec	+5.9%	+2.3%	+4.2%	−0.3%	+2.0%	+24.8%	+9.5%	−0.4%	−0.5%	+2.3%
ROL Dec	-	+6.4%	+8.8%	+10.6%	+7.2%	+12.2%	+11.2%	+14.0%	+10.3%	+11.0%
ALLE Dec	+8.2%	+7.6%	+13.4%	+4.5%	−4.7%	+5.4%	+14.1%	+11.6%	+3.3%	+7.8%
FTV Dec	+0.7%	+7.0%	+12.1%	+20.1%	+1.5%	+13.4%	+10.9%	+4.1%	+4.3%	+1.9%
Peer median	+6.5%	+7.6%	+9.1%	+4.5%	+0.9%	+13.4%	+10.9%	+4.1%	+3.3%	+5.8%

Gross margin, FY2016 to FY2025

Gross profit / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	63.6%	60.2%	61.6%	57.9%	61.1%	62.7%	61.2%	61.2%	59.6%	59.7%
VRSK Dec	-	-	-	-	-	-	-	-	-	-
IEX Dec	44.0%	44.9%	45.0%	45.1%	43.7%	44.3%	44.8%	44.2%	44.2%	44.5%
AOS Dec	41.5%	41.1%	41.0%	39.5%	38.3%	37.0%	35.4%	38.5%	38.1%	38.8%
BE Dec	−49.6%	−4.5%	16.7%	12.4%	20.9%	20.3%	12.4%	14.8%	27.5%	29.0%
NDSN Oct	-	-	-	-	-	-	-	-	-	-
PNR Dec	19.6%	20.0%	35.3%	35.6%	35.0%	35.0%	33.1%	37.0%	39.2%	40.5%
ROL Dec	-	-	-	-	-	-	-	-	-	-
ALLE Dec	-	-	-	-	-	-	-	-	-	-
FTV Dec	43.1%	43.9%	33.9%	54.4%	56.3%	57.2%	57.7%	63.3%	64.2%	63.5%
Peer median	41.5%	41.1%	35.3%	39.5%	38.3%	37.0%	35.4%	38.5%	39.2%	40.5%

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	11.9%	3.8%	5.9%	−1.2%	−2.1%	−19.5%	7.8%	10.0%	2.8%	−2.2%
VRSK Dec	38.5%	37.3%	34.8%	26.7%	42.1%	37.0%	56.3%	42.2%	43.5%	43.7%
IEX Dec	19.5%	22.0%	22.9%	23.2%	22.1%	23.0%	23.6%	22.4%	20.7%	20.2%
AOS Dec	19.2%	19.3%	19.2%	17.7%	17.4%	19.3%	9.6%	19.3%	18.5%	19.0%
BE Dec	−115.6%	−42.4%	−26.1%	−29.6%	−10.2%	−11.8%	−21.8%	−15.7%	1.6%	3.6%
NDSN Oct	21.5%	22.6%	22.3%	22.0%	16.5%	26.0%	27.1%	25.6%	25.1%	25.5%
PNR Dec	7.2%	7.7%	14.7%	14.6%	15.3%	16.9%	14.4%	18.0%	19.7%	20.5%
ROL Dec	-	-	-	15.7%	17.4%	18.5%	18.3%	19.0%	19.4%	19.3%
ALLE Dec	19.4%	20.5%	19.2%	19.8%	14.8%	18.5%	17.9%	19.4%	20.7%	21.1%
FTV Dec	17.1%	17.2%	10.0%	9.7%	11.6%	15.5%	16.9%	14.7%	17.6%	17.3%
Peer median	19.3%	19.9%	19.2%	17.7%	16.5%	18.5%	17.9%	19.3%	19.7%	20.2%

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	6.4%	1.5%	7.0%	0.2%	−0.3%	−7.0%	12.4%	11.3%	18.1%	4.5%
VRSK Dec	29.6%	25.9%	25.0%	17.3%	31.4%	27.1%	38.2%	22.9%	33.3%	29.6%
IEX Dec	12.8%	14.7%	16.5%	17.1%	16.1%	16.3%	18.4%	18.2%	15.4%	14.0%
AOS Dec	12.2%	9.9%	13.9%	12.4%	11.9%	13.8%	6.3%	14.4%	14.0%	14.3%
BE Dec	−134.1%	−75.6%	−43.2%	−38.8%	−19.8%	−16.9%	−25.2%	−22.7%	−1.8%	−4.3%
NDSN Oct	15.0%	14.3%	16.7%	15.4%	11.8%	19.2%	19.8%	18.5%	17.4%	17.4%
PNR Dec	10.7%	13.5%	11.7%	12.0%	11.9%	14.7%	11.7%	15.2%	15.3%	15.7%
ROL Dec	-	10.7%	12.7%	10.1%	12.3%	14.7%	13.7%	14.2%	13.8%	14.0%
ALLE Dec	10.2%	11.3%	15.9%	14.1%	11.6%	16.8%	14.0%	14.8%	15.8%	15.8%
FTV Dec	14.0%	15.7%	44.6%	14.7%	33.3%	10.9%	13.0%	22.1%	20.4%	13.9%
Peer median	12.5%	13.5%	15.9%	14.1%	11.9%	14.7%	13.7%	15.2%	15.4%	14.3%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	$16.2M	$8.1M	$52.7M	$49.7M	−$34.1M	$74.6M	$179.6M	$129.6M	$329.5M	$75.1M
VRSK Dec	$421.0M	$560.0M	$703.4M	$739.5M	$821.4M	$887.3M	$784.3M	$830.7M	$920.1M	$1.2B
IEX Dec	$361.7M	$388.9M	$423.3M	$477.2M	$517.7M	$492.6M	$489.4M	$626.8M	$603.0M	$616.8M
AOS Dec	$365.9M	$232.2M	$363.7M	$391.8M	$505.3M	$566.0M	$321.1M	$597.7M	$473.8M	$546.0M
BE Dec	−$291.8M	−$153.4M	−$137.2M	$112.7M	−$136.7M	−$110.5M	−$308.5M	−$456.3M	$33.1M	$57.2M
NDSN Oct	$273.8M	$285.2M	$414.8M	$318.6M	$451.9M	$507.6M	$461.7M	$606.7M	$491.8M	$661.1M
PNR Dec	$818.1M	$581.1M	$390.9M	$294.5M	$511.4M	$553.0M	$278.1M	$543.2M	$692.3M	$746.0M
ROL Dec	-	$210.7M	$272.2M	$292.4M	$412.6M	$374.6M	$435.3M	$495.9M	$580.1M	$650.0M
ALLE Dec	$335.0M	$297.9M	$408.7M	$422.6M	$443.2M	$443.2M	$395.5M	$516.4M	$582.9M	$685.7M
FTV Dec	$1.0B	$1.1B	$1.3B	$1.2B	$1.4B	$911.1M	$1.2B	$1.3B	$1.4B	$978.1M
Peer median	$363.8M	$297.9M	$408.7M	$391.8M	$505.3M	$507.6M	$435.3M	$597.7M	$582.9M	$661.1M

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	6.0%	2.3%	12.6%	9.4%	−5.0%	8.6%	15.1%	8.3%	15.8%	2.7%
VRSK Dec	21.1%	26.1%	29.4%	28.4%	36.2%	36.0%	31.4%	31.0%	31.9%	38.8%
IEX Dec	17.1%	17.0%	17.0%	19.1%	22.0%	17.8%	15.4%	19.1%	18.4%	17.8%
AOS Dec	13.6%	7.7%	11.4%	13.1%	17.5%	16.0%	8.6%	15.5%	12.4%	14.3%
BE Dec	−139.9%	−42.0%	−21.7%	14.4%	−17.2%	−11.4%	−25.7%	−34.2%	2.2%	2.8%
NDSN Oct	15.1%	13.8%	18.4%	14.5%	21.3%	21.5%	17.8%	23.1%	18.3%	23.7%
PNR Dec	16.7%	11.8%	13.2%	10.0%	16.9%	14.7%	6.7%	13.2%	17.0%	17.9%
ROL Dec	-	12.6%	14.9%	14.5%	19.1%	15.5%	16.1%	16.1%	17.1%	17.3%
ALLE Dec	15.0%	12.4%	15.0%	14.8%	16.3%	15.5%	12.1%	14.1%	15.5%	16.9%
FTV Dec	16.5%	16.0%	19.8%	26.2%	29.4%	17.3%	20.7%	32.6%	35.3%	23.5%
Peer median	15.8%	12.6%	15.0%	14.5%	19.1%	16.0%	15.4%	16.1%	17.1%	17.8%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	11.5%	3.1%	6.2%	0.2%	−0.2%	−5.7%	11.6%	10.9%	16.2%	3.8%
VRSK Dec	44.4%	28.8%	28.9%	19.9%	26.4%	23.7%	54.5%	198.3%	n/m	n/m
IEX Dec	17.6%	17.9%	20.6%	18.8%	14.9%	16.0%	19.3%	16.8%	13.3%	12.0%
AOS Dec	21.6%	18.0%	25.9%	22.2%	18.7%	26.6%	13.5%	30.2%	28.3%	29.4%
BE Dec	n/m	n/m	n/m	n/m	−199.9%	n/m	−88.5%	−60.2%	−4.8%	−11.3%
NDSN Oct	31.9%	25.6%	26.0%	21.3%	14.2%	21.0%	22.4%	18.8%	15.9%	15.9%
PNR Dec	12.3%	13.2%	18.9%	18.2%	17.0%	22.8%	17.8%	19.4%	17.6%	16.9%
ROL Dec	-	27.4%	32.5%	24.4%	27.7%	32.1%	29.1%	37.6%	35.1%	38.3%
ALLE Dec	n/m	68.1%	66.8%	53.0%	37.9%	63.6%	48.6%	41.0%	39.8%	31.1%
FTV Dec	32.5%	27.6%	43.6%	9.1%	17.2%	6.0%	7.8%	8.4%	8.2%	9.0%
Peer median	26.8%	26.5%	27.5%	20.6%	17.2%	23.2%	19.3%	19.4%	16.7%	16.4%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	-	-	-	-	-	-	-	0.42	0.29	0.56
VRSK Dec	1.71	1.18	1.32	1.62	1.20	1.18	2.14	9.30	n/m	n/m
IEX Dec	0.66	0.46	0.43	0.38	0.41	0.43	0.49	0.38	0.52	0.45
AOS Dec	0.21	0.25	0.13	0.17	0.06	0.11	0.20	0.07	0.10	0.08
BE Dec	-	n/m	n/m	n/m	4.96	n/m	1.21	1.69	2.21	3.41
NDSN Oct	1.15	1.37	0.91	0.79	0.63	0.38	0.32	0.67	0.75	0.66
PNR Dec	1.01	0.29	0.47	0.59	0.40	0.37	0.86	0.62	0.46	0.42
ROL Dec	-	-	-	0.24	-	-	-	-	0.30	0.44
ALLE Dec	12.92	3.77	2.27	1.89	1.72	1.90	2.22	1.53	1.33	0.96
FTV Dec	1.25	1.07	0.52	0.86	0.47	0.42	0.34	0.35	0.36	0.50
Peer median	1.15	1.07	0.52	0.69	0.55	0.42	0.67	0.64	0.49	0.48

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
AXON Dec	$0.32	$0.10	$0.50	$0.01	−$0.03	−$0.91	$2.03	$2.33	$4.80	$1.51
VRSK Dec	$3.45	$3.29	$3.56	$2.70	$4.31	$4.08	$6.00	$4.17	$6.71	$6.48
IEX Dec	$3.53	$4.36	$5.29	$5.56	$4.94	$5.88	$7.71	$7.85	$6.64	$6.41
AOS Dec	$1.85	$1.70	$2.58	$2.22	$2.12	$3.02	$1.51	$3.69	$3.63	$3.85
BE Dec	−$27.84	−$26.97	−$5.14	−$2.67	−$1.14	−$0.95	−$1.62	−$1.42	−$0.13	−$0.37
NDSN Oct	$4.73	$5.08	$6.40	$5.79	$4.27	$7.74	$8.81	$8.46	$8.11	$8.51
PNR Dec	$2.85	$3.63	$1.96	$2.09	$2.14	$3.30	$2.90	$3.75	$3.74	$3.96
ROL Dec	-	$0.55	$0.47	$0.41	$0.54	$0.72	$0.75	$0.89	$0.96	$1.09
ALLE Dec	$2.36	$2.85	$4.54	$4.26	$3.39	$5.34	$5.19	$6.12	$6.82	$7.44
FTV Dec	$2.51	$2.96	$8.21	$1.97	$4.49	$1.63	$2.10	$2.43	$2.36	$1.73
Peer median	$2.68	$2.96	$3.56	$2.22	$3.39	$3.30	$2.90	$3.75	$3.74	$3.96

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out AXON and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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