Axon Enterprise, Inc. (AXON) Stock

Axon Enterprise, Inc. (AXON) is a Industrials stock trading at $614.47 (as of 2026-08-20), with a market capitalization of $49.53B and a trailing P/E of 170.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Axon Enterprise, Inc. designs and sells TASER conducted energy devices and related accessories, and provides body-worn and in-car recording hardware. It also offers Axon Evidence digital evidence management software and other connected offerings to help law enforcement capture, store, manage, and analyze digital evidence.

Understand Axon Enterprise, Inc.: how it makes money

Axon Enterprise develops and sells TASER conducted energy devices and a connected public safety platform, including body and in-car cameras, and software that captures, stores, manages, shares, and analyzes digital evidence, with money coming from device-related sales and cloud and software services.

Axon's profit model is driven by recurring cloud and software revenue tied to its digital evidence platform, with retention and contracted visibility signals captured by Annual Recurring Revenue, Net Revenue Retention, and Remaining Performance Obligations.

Revenue by segment (latest quarter)
TASER$0.2B
Software & Sensors$0.6B

Business quality (Mixed): Clear two-segment structure (TASER, Software and Sensors) and explicit operating indicators (Annual Recurring Revenue, Net Revenue Retention, Remaining Performance Obligations), but the provided segment revenue figures are limited, so investors must rely on the operating KPIs to understand the recurring portion of performance.

Valuation: At 178× earnings, AXON trades 376% above the Defense average (37×). Note: one-time items can distort reported P/E.

Bull case

  • Strong retention signal: Net Revenue Retention is shown at 125 percent, which supports the idea that customers expand and stay with Axon over time.
  • Contracted visibility: Remaining Performance Obligations are shown at 7.9 USD_B, indicating the company has future contracted revenue associated with its platform.

Bear case

  • Low profitability level: Operating margin is shown at 3.6 percent, so earnings are sensitive to cost changes or mix shifts between devices and software.
  • Backlog and contract figures can move: Future Contracted Revenue (7.4 USD_B) and Future Contracted Revenue Exiting (7.7 USD_B) highlight that contracted amounts are a moving target, which can affect near-term revenue conversion.
Valuation — source: SEC EDGAR (first-party)
Price$614.47
Market Cap$49.53B
P/E Ratio170.1
EV / EBITDA317.6
Price / Book14.01
Price / Sales17.75
FCF Yield-0.5%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.78B
Net Margin4.5%
Revenue Growth (YoY)33.5%
EPS Growth (YoY)-67.9%
FCF Growth (YoY)-77.2%
Financial Health — source: SEC EDGAR
Altman Z-Score8.83 (safe)
Piotroski F-Score5/9 (moderate)
Valuation vs Sector & Industry
Stock P/E170.1
Sector P/E (Industrials)25.9
Industry P/E (Defense)53.3
vs Sector556.8%
vs Industry219.2%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($5.32B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorIndustrials
IndustryDefense
CEOPatrick W. Smith
Employees4,100
CountryUS
IPO Date2001-06-19

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AXON earnings history · AXON institutional & insider holders · AXON KPIs & operating metrics · AXON financials · AXON investor presentations & press releases · AXON SEC filings · AXON peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.