# Axon Enterprise Inc. (AXON) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Aerospace & Defense. Price $515.67, market value $41.9 billion.

## Valuation
- **P/E (trailing): 213.1×** (5-yr avg 173.1×, 3-yr avg 203.6×). Axon Enterprise Inc. trades at 213.1× trailing earnings, well above its own five-year average of 173.1×: investors are paying up relative to the company's past. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 48.8×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 13.0×**. Each dollar of revenue is priced at 13.0×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 11.4×**. The shares trade at 11.4× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 0.3%** (5-yr avg 0.7%). Free cash flow equals 0.3% of the market value, below its five-year average of 0.7%, so the shares are pricier on cash than usual.
- **Earnings yield: 0.5%**. The inverse of the P/E: 0.5% of the price is earned each year.

## Profitability
- **Gross margin: 59.4%**. Axon Enterprise Inc. keeps 59.4% of revenue after the direct cost of what it sells.
- **Operating margin: 0.7%**. 0.7% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 4.5%**. 4.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 3.8%**. 3.8% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 0.5%**. Return on all capital, debt included, is 0.5%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 2.8%**. Each dollar of assets produces 2.8% of profit.

## Growth
- **Revenue growth (1 yr): 33.5%** (3-yr 32.8%/yr, 5-yr 32.5%/yr). Revenue grew 33.5% over the last year, against 32.5% a year compounded over five years.
- **EPS growth (1 yr): -68.5%** (3-yr -9.4%/yr). Earnings per share fell 68.5%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): -25.2%/yr**. Free cash flow has compounded at -25.2% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 0.56**. Debt is 0.56 times equity, moderate leverage.
- **Net debt / EBITDA: 4.6×**. It would take 4.6 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 7.71**. A Z-score of 7.71 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Axon Enterprise Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (19 analysts). 19 analysts cover Axon Enterprise Inc.; the consensus is buy, with an average price target of $693.40 (+34% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -29.4%** (YTD -9.2%, 3-mo 6.1%). The shares are down 29.4% over twelve months including dividends.
- **From 52-week high: -34.9%** (52.1% above the low). Trading 35% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 1.47** (volatility 62%). Beta of 1.47 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AXON · Page: https://foliofundamentals.com/stocks/axon

Not investment advice.