Axon Enterprise (AXON) Stock Analysis

November 11, 2026

This is a peer-relative look at Axon Enterprise (AXON): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Capital Goods peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Axon Enterprise (AXON)
Profile Item	AXON
Name	Axon Enterprise, Inc.
Country/Region	United States
GICS Sector	Industrials
GICS Industry Group	Capital Goods
GICS Industry	Aerospace & Defense
GICS Sub-Industry	Aerospace & Defense
Market Capitalization	25.49 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	June 19, 2001
Security Type	Common Stock

Price Performance

Cumulative Growth

AXON

GSPC

Axon Enterprise (AXON) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…

Trailing total returns for Axon Enterprise (AXON) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…

Calendar-year total returns for Axon Enterprise (AXON) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
Total Return (1Y)	-48.97%	6.84%
Total Return (3Y, Annualized)	12.54%	17.66%
Total Return (5Y, Annualized)	11.75%	9.09%

Risk Profile

Drawdown History

AXON

GSPC

Axon Enterprise (AXON) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…

Distribution of monthly total returns for Axon Enterprise (AXON) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
Volatility (1Y, Annualized)	64.30%	44.38%
Beta (5Y)	1.55	1.19
Max Drawdown (5Y)	-64.70%	-49.95%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. AXON is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
Sharpe Ratio (1Y)	-0.83	0.06
Sortino Ratio (1Y)	-1.14	0.09

Profitability

ROE (TTM)

Axon Enterprise (AXON) posts ROE of 7.61%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

AXON

Capital Goods industry group

7.61%

Group distribution

Max: 40.55%
Q3: 19.29%
Median: 12.12%
AXON: 7.61%
Q1: 4.08%
Min: -17.12%

Largest peers

GEV: 93.04%
CAT: 56.14%
GE: 50.17%
DE: 18.24%
RTX: 12.85%
AXON: 7.61%
BA: --

Where Axon Enterprise (AXON) stands on ROE within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Axon Enterprise (AXON) keeps 7.57% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

AXON

Capital Goods industry group

7.57%

Group distribution

Max: 27.47%
Q3: 12.10%
AXON: 7.57%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Largest peers

GEV: 23.54%
GE: 17.31%
CAT: 15.21%
DE: 10.17%
RTX: 8.75%
BA: 8.07%
AXON: 7.57%

Where Axon Enterprise (AXON) stands on net margin within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Axon Enterprise (AXON) turns 4.63% of revenue into operating profit, in the lower peer quartile for operating margin. Operating costs are taking a larger share of sales than they do at most peers.

AXON

Capital Goods industry group

4.63%

Group distribution

Max: 36.60%
Q3: 18.33%
Median: 11.12%
Q1: 5.14%
AXON: 4.63%
Min: -12.63%

Largest peers

CAT: 20.19%
GE: 18.49%
RTX: 15.54%
DE: 13.37%
GEV: 12.77%
AXON: 4.63%
BA: 0.30%

Where Axon Enterprise (AXON) stands on operating margin within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
ROE (TTM)	7.61%	12.12%
ROA (TTM)	0.81%	5.29%
Net Margin (TTM)	7.57%	6.30%
Operating Margin (TTM)	4.63%	11.12%
Gross Margin (TTM)	58.64%	29.63%

Growth

Revenue Growth

Axon Enterprise (AXON) grew revenue 33.47%, in the upper peer quartile. The top line is expanding faster than at most industry peers, which points to share gains or stronger pricing.

Axon Enterprise (AXON): Revenue Growth across different time periods, set against Capital Goods industry-group medians.

EPS Growth

Axon Enterprise (AXON) grew earnings per share -68.54%, in the lower peer quartile. Per-share profits are advancing more slowly than at most peers, so margins, costs, or share count deserve a closer look.

Axon Enterprise (AXON): EPS Growth across different time periods, set against Capital Goods industry-group medians.

Growth Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
Revenue Growth (YoY)	33.47%	8.11%
Revenue Growth (3Y CAGR)	32.79%	6.45%
EPS Growth (YoY)	-68.54%	5.45%
EPS Growth (3Y CAGR)	-9.39%	7.15%

Financial Strength

Current Ratio (MRQ)

Axon Enterprise (AXON) has current ratio of 3.00, above the industry’s typical middle range. Liquidity looks ample versus peers, though an unusually high cushion can also mean idle current assets or inefficient working capital.

AXON

Capital Goods industry group

3.00

Group distribution

Max: 5.22
AXON: 3.00
Q3: 2.95
Median: 2.08
Q1: 1.43
Min: 0.36

Largest peers

AXON: 3.00
DE: 2.13
CAT: 1.42
BA: 1.13
RTX: 1.05
GE: 0.98
GEV: 0.83

Where Axon Enterprise (AXON) stands on current ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Axon Enterprise (AXON) has debt-to-equity ratio of 0.79, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

AXON

Capital Goods industry group

0.79

Group distribution

Max: 2.33
Q3: 1.12
AXON: 0.79
Median: 0.60
Q1: 0.29
Min: 0.00

Largest peers

BA: 7.39
DE: 2.30
CAT: 2.10
GE: 1.16
AXON: 0.79
RTX: 0.55
GEV: 0.30

Where Axon Enterprise (AXON) stands on debt-to-equity ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
Current Ratio (MRQ)	3.00	2.08
Debt / Equity (MRQ)	0.79	0.60
Net Debt / EBITDA	5.98	1.78

Dividends

Dividend Yield (TTM)

Axon Enterprise (AXON) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

AXON

Capital Goods industry group

0.00%

Group distribution

Max: 2.66%
Q3: 1.14%
Median: 0.24%
AXON: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

RTX: 1.47%
CAT: 1.13%
DE: 0.98%
GE: 0.56%
GEV: 0.26%
AXON: 0.00%
BA: 0.00%

Where Axon Enterprise (AXON) stands on dividend yield within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Axon Enterprise (AXON) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

AXON

Capital Goods industry group

0.00%

Group distribution

Max: 67.39%
Q3: 28.02%
Median: 6.86%
AXON: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

RTX: 45.85%
DE: 36.02%
CAT: 24.18%
GE: 20.23%
GEV: 4.59%
AXON: 0.00%
BA: 0.00%

Where Axon Enterprise (AXON) stands on payout ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
Dividend Yield (TTM)	0.00%	0.24%
Dividend Payout Ratio (TTM)	0.00%	6.86%

Valuation

P/E Ratio (TTM)

Axon Enterprise (AXON) trades at P/E ratio of 100.64, above the peer range for its industry. The market is paying unusually heavily for TTM earnings relative to comparable companies.

AXON

Capital Goods industry group

100.64

Group distribution

AXON: 100.64
Max: 59.38
Q3: 35.92
Median: 25.41
Q1: 19.47
Min: 3.03

Largest peers

AXON: 100.64
DE: 37.33
GE: 36.94
RTX: 30.82
CAT: 21.92
GEV: 20.32
BA: 17.89

Where Axon Enterprise (AXON) stands on P/E ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Axon Enterprise (AXON) trades at 7.46 on P/S ratio, in the higher sales-valuation quartile. Investors are paying up for each dollar of revenue, so stronger margins, growth, or revenue quality need to carry that price.

AXON

Capital Goods industry group

7.46

Group distribution

Max: 7.54
AXON: 7.46
Q3: 3.76
Median: 2.15
Q1: 1.03
Min: 0.03

Largest peers

AXON: 7.46
GE: 6.38
GEV: 4.65
DE: 3.78
CAT: 3.29
RTX: 2.66
BA: 1.45

Where Axon Enterprise (AXON) stands on P/S ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Axon Enterprise (AXON) trades at 6.74 on P/B ratio, in the higher book-value quartile. The market is paying a premium to book, so stronger ROE, cleaner assets, or a better growth profile need to justify it.

AXON

Capital Goods industry group

6.74

Group distribution

Max: 9.66
AXON: 6.74
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

Largest peers

BA: 20.99
GE: 19.06
GEV: 18.00
CAT: 11.90
AXON: 6.74
DE: 6.47
RTX: 3.69

Where Axon Enterprise (AXON) stands on P/B ratio within its Capital Goods peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Axon Enterprise (AXON) metric values compared with Capital Goods industry-group medians
Metric	Current stock: AXON	Industry group median
P/E Ratio (TTM)	100.64	25.41
P/S Ratio (TTM)	7.46	2.15
P/B Ratio (MRQ)	6.74	3.12
Free Cash Flow Yield (TTM)	0.38%	3.03%