AXON vs. GD: Axon Enterprise vs. General Dynamics Stock Comparison

November 11, 2026

How do Axon Enterprise (AXON) and General Dynamics (GD) 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

Axon Enterprise (AXON) and General Dynamics (GD) are both classified in the Aerospace & Defense sub-industry within the broader Aerospace & Defense industry, placing them in the closest GICS peer bucket.

Company profile comparison for Axon Enterprise (AXON) and General Dynamics (GD)
Profile Item	AXON	GD
Name	Axon Enterprise, Inc.	General Dynamics Corp.
Country/Region	United States	United States
GICS Sector	Industrials	Industrials
GICS Industry Group	Capital Goods	Capital Goods
GICS Industry	Aerospace & Defense	Aerospace & Defense
GICS Sub-Industry	Aerospace & Defense	Aerospace & Defense
Market Capitalization	25.49 billion USD	95.68 billion USD
Currency	USD	USD
Exchange	Nasdaq	NYSE
Listing Date	June 19, 2001	January 2, 1962
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

AXON

GSPC

Axon Enterprise (AXON) vs. General Dynamics (GD), 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 Axon Enterprise (AXON) and General Dynamics (GD). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
Total Return (1Y)	-48.97%	6.52%
Total Return (3Y, Annualized)	12.54%	16.95%
Total Return (5Y, Annualized)	11.75%	14.65%

Risk Profile

Drawdown History

AXON

GSPC

Axon Enterprise (AXON) vs. General Dynamics (GD), 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 Axon Enterprise (AXON) and General Dynamics (GD). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Axon Enterprise (AXON) has an aggressive beta of 1.55, indicating higher sensitivity to broad-market moves, while General Dynamics (GD) is defensive at 0.30 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
Volatility (1Y, Annualized)	64.30%	23.03%
Beta (5Y)	1.55	0.30
Max Drawdown (5Y)	-64.70%	-22.55%
Avg. Volume (3M)	1.06M	1.19M

Risk-Adjusted Performance

Risk-Return Positioning

AXON and GD 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 Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
Sharpe Ratio (1Y)	-0.83	0.10
Sortino Ratio (1Y)	-1.14	0.15

Profitability

ROE (TTM)

Both Axon Enterprise (AXON) at 7.61% and General Dynamics (GD) at 18.01% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

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%

GD

Capital Goods industry group

18.01%

Max: 40.55%
Q3: 19.29%
GD: 18.01%
Median: 12.12%
Q1: 4.08%
Min: -17.12%

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their ROE against the Capital Goods industry group benchmark.

Net Margin (TTM)

Both Axon Enterprise (AXON) at 7.57% and General Dynamics (GD) at 8.24% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

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%

GD

Capital Goods industry group

8.24%

Max: 27.47%
Q3: 12.10%
GD: 8.24%
Median: 6.30%
Q1: 1.40%
Min: -12.89%

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their net margin against the Capital Goods industry group benchmark.

Operating Margin (TTM)

General Dynamics (GD) at 10.49% runs core operations around its industry’s norm, while Axon Enterprise (AXON) at 4.63% operates in the bottom quartile.

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%

GD

Capital Goods industry group

10.49%

Max: 36.60%
Q3: 18.33%
Median: 11.12%
GD: 10.49%
Q1: 5.14%
Min: -12.63%

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their operating margin against the Capital Goods industry group benchmark.

Profitability Metrics

Profitability metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
ROE (TTM)	7.61%	18.01%
ROA (TTM)	0.81%	6.23%
Net Margin (TTM)	7.57%	8.24%
Operating Margin (TTM)	4.63%	10.49%
Gross Margin (TTM)	58.64%	15.42%

Growth

Revenue Growth

Axon Enterprise (AXON) at 33.47% sits in the top revenue growth quartile, while General Dynamics (GD) at 10.13% is closer to the peer norm — faster top-line expansion for AXON.

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their Revenue Growth across different time periods.

EPS Growth

General Dynamics (GD) at 13.35% is around its peer norm for EPS growth, while Axon Enterprise (AXON) at -68.54% drops into the bottom quartile, signaling weaker earnings momentum.

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
Revenue Growth (YoY)	33.47%	10.13%
Revenue Growth (3Y CAGR)	32.79%	10.07%
EPS Growth (YoY)	-68.54%	13.35%
EPS Growth (3Y CAGR)	-9.39%	8.22%

Financial Strength

Current Ratio (MRQ)

Axon Enterprise (AXON) at 3.00 carries current ratio above its industry’s typical mid-range, while General Dynamics (GD) at 1.43 runs in the tighter-liquidity quartile — different working-capital profiles, both worth examining.

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

GD

Capital Goods industry group

1.43

Max: 5.22
Q3: 2.95
Median: 2.08
Q1: 1.43
GD: 1.43
Min: 0.36

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their current ratio against the Capital Goods industry group benchmark.

Debt / Equity (MRQ)

Both Axon Enterprise (AXON) at 0.79 and General Dynamics (GD) at 0.33 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

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

GD

Capital Goods industry group

0.33

Max: 2.33
Q3: 1.12
Median: 0.60
GD: 0.33
Q1: 0.29
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
Current Ratio (MRQ)	3.00	1.43
Debt / Equity (MRQ)	0.79	0.33
Net Debt / EBITDA	5.98	0.68

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 General Dynamics (GD) reports a yield of 1.76%, ranking against industry peers normally.

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%

GD

Capital Goods industry group

1.76%

Max: 2.66%
GD: 1.76%
Q3: 1.14%
Median: 0.24%
Q1: 0.00%
Min: 0.00%

Axon Enterprise (AXON) vs. General Dynamics (GD): 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 General Dynamics (GD) reports a payout of 36.90%, ranking against industry peers normally.

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%

GD

Capital Goods industry group

36.90%

Max: 67.39%
GD: 36.90%
Q3: 28.02%
Median: 6.86%
Q1: 0.00%
Min: 0.00%

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their payout ratio against the Capital Goods industry group benchmark.

Dividend Metrics

Dividend metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
Dividend Yield (TTM)	0.00%	1.76%
Dividend Payout Ratio (TTM)	0.00%	36.90%

Valuation

P/E Ratio (TTM)

General Dynamics (GD) at 20.84 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.

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

GD

Capital Goods industry group

20.84

Max: 59.38
Q3: 35.92
Median: 25.41
GD: 20.84
Q1: 19.47
Min: 3.03

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their P/E ratio against the Capital Goods industry group benchmark.

P/S Ratio (TTM)

General Dynamics (GD) at 1.69 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.

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

GD

Capital Goods industry group

1.69

Max: 7.54
Q3: 3.76
Median: 2.15
GD: 1.69
Q1: 1.03
Min: 0.03

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their P/S ratio against the Capital Goods industry group benchmark.

P/B Ratio (MRQ)

General Dynamics (GD) at 3.50 is valued about in line with its industry on P/B ratio, while Axon Enterprise (AXON) at 6.74 carries an above-peer premium to book — AXON is pricier on assets.

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

GD

Capital Goods industry group

3.50

Max: 9.66
Q3: 5.00
GD: 3.50
Median: 3.12
Q1: 1.81
Min: -1.08

Axon Enterprise (AXON) vs. General Dynamics (GD): A comparison of their P/B ratio against the Capital Goods industry group benchmark.

Valuation Metrics

Valuation metrics for Axon Enterprise (AXON) and General Dynamics (GD)
Metric	AXON	GD
P/E Ratio (TTM)	100.64	20.84
P/S Ratio (TTM)	7.46	1.69
P/B Ratio (MRQ)	6.74	3.50
Free Cash Flow Yield (TTM)	0.38%	4.76%