Axon Enterprise
Axon Enterprise, Inc. provides public safety technology solutions in the United States and internationally. The company operates in two segments, Software and Services, and Connected Devices. The Software and Services segment develops, manufactures, and sells cloud-based software-as-a-service solut…
Axon Enterprise, Inc. provides public safety technology solutions in the United States and internationally. The company operates in two segments, Software and Services, and Connected Devices. The Software and Services segment develops, manufactures, and sells cloud-based software-as-a-service solutions to capture, store, manage, share, and analyze video and other digital evidence. This segment also offers Axon Evidence, Draft One, Axon Records, Axon Standards, Axon Fusus, Axon Assistant, and others. The Connected Devices segment engages in the development, manufacture, and sale of integrated hardware solutions, such as conducted energy devices under the TASER brand, body cameras, fixed and in-car cameras, drone and counter-drone technologies, accessories, extended warranties, and related hardware products, as well as virtual reality training hardware. The company serves first responders across international, federal, state, and local governments, international governmental entities, commercial enterprises, and consumers through direct sales, distribution partners, and third-party resellers. The company was formerly known as TASER International, Inc. and changed its name to Axon Enterprise, Inc. in April 2017. Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona.No valuation verdict yet
Why: Latest free cash flow is depressed by heavy investment or one-off items, so a three-year average is used instead.
Details and the full model are below.
Selected model not applicable
EV/EBITDA (12x) needs inputs this company does not have (for example positive earnings, free cash flow or EBITDA), so it gives no usable value.
Assumptions: growth 17.84%, discount rate 10%, terminal growth 2.70% (sector defaults). See a worked example.
Blended growth assumption: 17.8% (sector default 6.2%, analyst revenue consensus 29.5%).
5-year outlook: relative outlook of about 8.1% a year (Medium confidence), anchored to a 7% market return and adjusted for how this company ranks against others. A ranking aid, not a prediction. See the full forecast.
Analyst consensus expects revenue growth of 29.5% a year; the growth assumption used is 17.8%.
Adjust assumptions
Show the recommended model instead
Why this model: Latest free cash flow is depressed by heavy investment or one-off items, so a three-year average is used instead.
Compare models- Recommended: Normalised free-cash-flow DCF — USD 48.87 (-84.9%)
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EPS-based Gordon proxy
— USD 21.29 (-93.4%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— USD 16.32 (-94.9%)
Not used: Not chosen: Normalised free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— USD 5.42 (-98.3%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— not applicable
Not used: Cannot be computed: EBITDA is missing, zero or negative.
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Fade DCF (10-year growth fade)
— USD 16.06 (-95.0%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— USD 118.12 (-63.4%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 60 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +30.3% a year | 20 / 20 |
| Balance sheet | net debt 7.4x EBITDA | 0 / 20 |
| Margins | EBITDA margin 6% | 0 / 20 |
Peers in Industrials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| AXON (this company) | USD 322.77 | -3673.3% | 101.7 | 7.0 | – | 60 |
| EZJ.L easyJet plc | GBP 6.84 | 74.5% | 10.6 | 1.5 | 1.7% | 78 |
| WAWI.OL Wallenius Wilhelmsen ASA | NOK 160.60 | 64.8% | 7.1 | 2.2 | 0.3% | 100 |
| IAG.L International Consolidated Airlines Group S.A. | GBP 4.31 | 59.5% | 7.9 | 3.4 | 1.8% | 92 |
| TPK.L Travis Perkins plc | GBP 6.45 | 55.4% | – | 0.8 | 2.1% | 46 |
| DFDS.CO DFDS A/S | DKK 153.20 | 47.3% | – | 0.6 | – | 64 |
| SRP.L Serco Group plc | GBP 2.79 | 45.8% | 19.8 | 3.3 | 1.5% | 82 |
| DG.PA VINCI SA | EUR 110.60 | 42.8% | 12.8 | 2.0 | 4.2% | 90 |
| HAFNI.OL Hafnia Limited | NOK 88.95 | 40.9% | 7.2 | 1.8 | 1.2% | 100 |
| Peer median | 9.2 | 1.9 | ||||
Annual financial statement
Saved annual report · Fiscal year 2025 · SEC EDGAR annual filings · period ended 31 Dec 2025
| Revenue | USD 2,779,536,000 |
|---|---|
| EBITDA | USD 21,085,000 |
| EBIT | USD -62,076,000 |
| Net income | USD 124,656,000 |
| Free cash flow | USD 75,081,000 |
| Capital expenditures | USD -136,258,000 |
| Debt | USD 1,810,722,000 |
| Cash | USD 1,201,147,000 |
| Working capital | USD 2,242,905,000 |
| Shares outstanding | 82,370,000 |