# Axon Enterprise, Inc. Common Stock (AXON) — Stock CV

Axon Enterprise, Inc. is a $34.4B industrial company. Revenue grew 34.7% over the last year, it keeps 6¢ of every dollar of sales as profit, and its net debt equals ~1.6 years of free cash flow. It trades at 172.4× earnings — in the most expensive third of its own history.

> Axon Enterprise Inc is building a public safety operating system by integrating a suite of hardware devices and cloud software solutions. The company's suite includes cloud-hosted digital evidence management solutions, TASER energy devices, drones and robotic security, and training solutions.

## Identity

- **Ticker**: AXON
- **Sector**: Industrials
- **Industry**: Ordnance & Accessories, (No Vehicles/Guided Missiles)
- **Headquarters**: SCOTTSDALE, AZ
- **Employees**: 6 300
- **Website**: https://www.axon.com
- **Market cap**: $34.4B
- **Last price**: $423.00
- **Financial profile**: Strong

## Vitals (TTM)

- **Revenue**: $3.22B
- **Net income**: $199M
- **Free cash flow**: $133M
- **Net debt**: $210M
- **P/E**: 172.4
- **Revenue growth (YoY)**: 34.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 15 |
| Growth | 50 |
| Profitability | 28 |
| Health | 95 |
| Quality | 62 |
| Moat | 49 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +34.7% YoY
- [x] Profitable — $199M TTM
- [ ] Profit growing — -9.3% YoY
- [x] Generates cash — $133M TTM
- [x] Debt under control — ~1.6y of cash flow to repay
- [x] Established company — $34.4B market cap
- [ ] Not printing shares — +33.3% shares over ~5y
- [x] Proven track record — 8/10 profitable years
- [x] Financially stable — Altman Z 6.2 — safe
- [ ] Valuation not extreme — P/E 172.4

## Experience (career milestones)

- **2025** — Axon agreed to acquire Carbyne for $625 million in cash, intending to integrate Carbyne's…
- **FY2024** — Best year on record: $377M net income
- **FY2022** — Revenue crossed $1B: $1.19B for the year
- **FY2021** — Positive free cash flow every year since: 5-year streak
- **2018** — Axon acquired competitor VieVu for $4.6 million in cash and $2.5 million in common stock
- **Apr 5, 2017** — TASER rebranded as Axon to reflect its expanded business
- **FY2016** — First recorded profitable year: $17.3M net income
- **2013** — Smith argued that the company was "not just about weapons, but about providing transparency and solving related data…
- **2009** — Taser's original body-worn camera, the Axon Pro, was introduced in 2009
- **2008** — The company unveiled its first body-worn camera, the Axon Pro
- **2001** — TASER International had an initial public offering with a $6.8 million deficit
- **1997** — After nearly going bankrupt marketing other products such as an electroshock-based anti-theft system for automobiles…

## Strengths

- High gross margin (59.4%)
- Revenue growing 34.7% year over year
- Interest covered 888.4× by operating earnings
- Altman Z-Score 6.23 — low bankruptcy-risk zone

## Watch-outs

- Net debt would take ~8.7 years of free cash flow to repay
- Loss-making in 2 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $863M | -$60.0M | $74.6M |
| FY2022 | $1.19B | $147M | $180M |
| FY2023 | $1.56B | $174M | $130M |
| FY2024 | $2.08B | $377M | $330M |
| FY2025 | $2.78B | $125M | $75.1M |

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Source: https://stockcv.com/AXON — derived from company filings; may be delayed or incomplete. Information, not investment advice.