AIT vs. AXON: Applied Industrial vs. Axon Enterprise Stock Comparison

November 11, 2026

How do Applied Industrial (AIT) and Axon Enterprise (AXON) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Applied Industrial (AIT) and Axon Enterprise (AXON) both fall under the Capital Goods industry group, but AIT is classified in Trading Companies & Distributors while AXON is classified in Aerospace & Defense.

Company profile comparison for Applied Industrial (AIT) and Axon Enterprise (AXON)
Profile Item	AIT	AXON
Name	Applied Industrial Technologies Inc.	Axon Enterprise, Inc.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Trading Companies & Distributors	Aerospace & Defense
GICS Sub-Industry	Trading Companies & Distributors	Aerospace & Defense
Market Capitalization	10.35 billion USD	25.49 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	March 17, 1980	June 19, 2001
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AIT

AXON

GSPC

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

Trailing Returns

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Trailing total returns for Applied Industrial (AIT) and Axon Enterprise (AXON). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Applied Industrial (AIT) and Axon Enterprise (AXON). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
Total Return (1Y)	15.62%	-48.97%
Total Return (3Y, Annualized)	24.49%	12.54%
Total Return (5Y, Annualized)	24.56%	11.75%

Risk Profile

Drawdown History

AIT

AXON

GSPC

Applied Industrial (AIT) vs. Axon Enterprise (AXON), with S&P 500 (GSPC) for reference: 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

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Distribution of monthly total returns for Applied Industrial (AIT) and Axon Enterprise (AXON). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
Volatility (1Y, Annualized)	28.72%	64.30%
Beta (5Y)	0.86	1.55
Max Drawdown (5Y)	-26.42%	-64.70%
Avg. Volume (3M)	295.41K	1.06M

Risk-Adjusted Performance

Risk-Return Positioning

AIT and AXON are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
Sharpe Ratio (1Y)	0.39	-0.83
Sortino Ratio (1Y)	0.53	-1.14

Profitability

ROE (TTM)

Applied Industrial (AIT) at 22.51% sits in the top ROE quartile, while Axon Enterprise (AXON) at 7.61% is closer to the peer norm — stronger capital efficiency for AIT.

AIT

Capital Goods industry group

22.51%

Max: 40.55%
AIT: 22.51%
Q3: 19.29%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

AXON

Capital Goods industry group

7.61%

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both Applied Industrial (AIT) at 8.39% and Axon Enterprise (AXON) at 7.57% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

AIT

Capital Goods industry group

8.39%

Max: 27.47%
Q3: 12.10%
AIT: 8.39%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

AXON

Capital Goods industry group

7.57%

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

Applied Industrial (AIT) at 11.12% runs core operations around its industry’s norm, while Axon Enterprise (AXON) at 4.63% operates in the bottom quartile.

AIT

Capital Goods industry group

11.12%

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

AXON

Capital Goods industry group

4.63%

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
ROE (TTM)	22.51%	7.61%
ROA (TTM)	11.43%	0.81%
Net Margin (TTM)	8.39%	7.57%
Operating Margin (TTM)	11.12%	4.63%
Gross Margin (TTM)	30.40%	58.64%

Growth

Revenue Growth

Axon Enterprise (AXON) at 33.47% sits in the top revenue growth quartile, while Applied Industrial (AIT) at 8.84% is closer to the peer norm — faster top-line expansion for AXON.

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: Axon Enterprise (AXON) reports EPS growth of -68.54%, ranked against its industry; Applied Industrial (AIT) has no EPS growth figure this period.

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
Revenue Growth (YoY)	8.84%	33.47%
Revenue Growth (3Y CAGR)	4.02%	32.79%
EPS Growth (YoY)	--	-68.54%
EPS Growth (3Y CAGR)	7.40%	-9.39%

Financial Strength

Current Ratio (MRQ)

Applied Industrial (AIT) at 2.89 keeps current ratio within its industry’s typical mid-range, while Axon Enterprise (AXON) at 3.00 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

AIT

Capital Goods industry group

2.89

Max: 5.22
Q3: 2.95
AIT: 2.89
Median: 2.08
Q1: 1.43
Min: 0.36

AXON

Capital Goods industry group

3.00

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Applied Industrial (AIT) at 0.15 keeps leverage in the lower industry quartile, while Axon Enterprise (AXON) at 0.79 runs a more typical debt-to-equity mix.

AIT

Capital Goods industry group

0.15

Max: 2.33
Q3: 1.12
Median: 0.60
Q1: 0.29
AIT: 0.15
Min: 0.00

AXON

Capital Goods industry group

0.79

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their debt-to-equity ratio against the Capital Goods industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
Current Ratio (MRQ)	2.89	3.00
Debt / Equity (MRQ)	0.15	0.79
Net Debt / EBITDA	0.27	5.98

Dividends

Dividend Yield (TTM)

Axon Enterprise (AXON) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Applied Industrial (AIT) reports a yield of 0.71%, ranking against industry peers normally.

AIT

Capital Goods industry group

0.71%

Max: 2.66%
Q3: 1.14%
AIT: 0.71%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

AXON

Capital Goods industry group

0.00%

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their dividend yield against the Capital Goods industry group benchmark.

Dividend Payout Ratio (TTM)

Axon Enterprise (AXON) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Applied Industrial (AIT) reports a payout of 17.63%, ranking against industry peers normally.

AIT

Capital Goods industry group

17.63%

Max: 67.39%
Q3: 28.02%
AIT: 17.63%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

AXON

Capital Goods industry group

0.00%

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
Dividend Yield (TTM)	0.71%	0.00%
Dividend Payout Ratio (TTM)	17.63%	0.00%

Valuation

P/E Ratio (TTM)

Applied Industrial (AIT) at 25.10 is near its industry’s usual P/E ratio, while Axon Enterprise (AXON) at 100.64 sits above its peer range — an unusually expensive price for AXON’s trailing earnings.

AIT

Capital Goods industry group

25.10

Max: 59.38
Q3: 35.92
Median: 25.41
AIT: 25.10
Q1: 19.47
Min: 3.03

AXON

Capital Goods industry group

100.64

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

Applied Industrial (AIT) at 2.05 is priced about in line with its industry on P/S ratio, while Axon Enterprise (AXON) at 7.46 sits in the pricier quartile — AXON costs more per dollar of sales.

AIT

Capital Goods industry group

2.05

Max: 7.54
Q3: 3.76
Median: 2.15
AIT: 2.05
Q1: 1.03
Min: 0.03

AXON

Capital Goods industry group

7.46

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

Both Applied Industrial (AIT) at 5.50 and Axon Enterprise (AXON) at 6.74 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

AIT

Capital Goods industry group

5.50

Max: 9.66
AIT: 5.50
Q3: 5.00
Median: 3.12
Q1: 1.81
Min: -1.08

AXON

Capital Goods industry group

6.74

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

Applied Industrial (AIT) vs. Axon Enterprise (AXON): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Applied Industrial (AIT) and Axon Enterprise (AXON)
Metric	AIT	AXON
P/E Ratio (TTM)	25.10	100.64
P/S Ratio (TTM)	2.05	7.46
P/B Ratio (MRQ)	5.50	6.74
Free Cash Flow Yield (TTM)	3.24%	0.38%