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Side-by-side financial comparison of Axon Enterprise (AXON) and Compass Diversified Holdings (CODI). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $468.6M, roughly 1.7× Compass Diversified Holdings). Axon Enterprise runs the higher net margin — 0.3% vs -16.8%, a 17.2% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs -5.1%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $36.9M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 6.8%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Compass Diversified Holdings is a publicly traded holding firm that acquires and operates a diverse portfolio of middle-market businesses across sectors including consumer goods, industrial manufacturing, outdoor recreation, and food & beverage. It partners with portfolio company leadership teams to drive long-term operational growth and value creation, primarily serving North American markets.
AXON vs CODI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $468.6M |
| Net Profit | $2.7M | $-78.8M |
| Gross Margin | 57.9% | 43.1% |
| Operating Margin | -6.3% | 9.8% |
| Net Margin | 0.3% | -16.8% |
| Revenue YoY | 38.9% | -5.1% |
| Net Profit YoY | -98.0% | -14.4% |
| EPS (diluted) | $0.02 | $-0.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $796.7M | $468.6M | ||
| Q3 25 | $710.6M | $472.6M | ||
| Q2 25 | $668.5M | $478.7M | ||
| Q1 25 | $603.6M | $453.8M | ||
| Q4 24 | $573.4M | $493.9M | ||
| Q3 24 | $544.3M | $456.6M | ||
| Q2 24 | $504.1M | $426.7M | ||
| Q1 24 | $460.7M | $410.8M |
| Q4 25 | $2.7M | $-78.8M | ||
| Q3 25 | $-2.2M | $-74.0M | ||
| Q2 25 | $36.1M | $-51.2M | ||
| Q1 25 | $88.0M | $-30.0M | ||
| Q4 24 | $136.0M | $-68.9M | ||
| Q3 24 | $67.0M | $-36.0M | ||
| Q2 24 | $40.8M | $-73.1M | ||
| Q1 24 | $133.2M | $-56.2M |
| Q4 25 | 57.9% | 43.1% | ||
| Q3 25 | 60.1% | 44.0% | ||
| Q2 25 | 60.4% | 43.6% | ||
| Q1 25 | 60.6% | 43.2% | ||
| Q4 24 | 60.5% | 38.6% | ||
| Q3 24 | 60.8% | 43.1% | ||
| Q2 24 | 60.3% | 44.1% | ||
| Q1 24 | 56.4% | 42.6% |
| Q4 25 | -6.3% | 9.8% | ||
| Q3 25 | -0.3% | -2.3% | ||
| Q2 25 | -0.2% | -5.7% | ||
| Q1 25 | -1.5% | 0.8% | ||
| Q4 24 | -2.6% | -3.8% | ||
| Q3 24 | 4.4% | 1.8% | ||
| Q2 24 | 6.5% | 1.8% | ||
| Q1 24 | 3.5% | -2.9% |
| Q4 25 | 0.3% | -16.8% | ||
| Q3 25 | -0.3% | -15.7% | ||
| Q2 25 | 5.4% | -10.7% | ||
| Q1 25 | 14.6% | -6.6% | ||
| Q4 24 | 23.7% | -13.9% | ||
| Q3 24 | 12.3% | -7.9% | ||
| Q2 24 | 8.1% | -17.1% | ||
| Q1 24 | 28.9% | -13.7% |
| Q4 25 | $0.02 | $-0.91 | ||
| Q3 25 | $-0.03 | $-1.21 | ||
| Q2 25 | $0.44 | $-0.88 | ||
| Q1 25 | $1.08 | $-0.59 | ||
| Q4 24 | $1.68 | $-0.57 | ||
| Q3 24 | $0.86 | $-0.62 | ||
| Q2 24 | $0.53 | $-1.12 | ||
| Q1 24 | $1.73 | $-1.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7B | $68.0M |
| Total DebtLower is stronger | $1.8B | $1.9B |
| Stockholders' EquityBook value | $3.2B | $442.0M |
| Total Assets | $7.0B | $3.0B |
| Debt / EquityLower = less leverage | 0.56× | 4.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $68.0M | ||
| Q3 25 | $2.4B | $61.1M | ||
| Q2 25 | $2.1B | $73.8M | ||
| Q1 25 | $2.2B | $146.2M | ||
| Q4 24 | $788.1M | $59.7M | ||
| Q3 24 | $1.0B | $64.9M | ||
| Q2 24 | $968.9M | $61.5M | ||
| Q1 24 | $964.1M | $59.5M |
| Q4 25 | $1.8B | $1.9B | ||
| Q3 25 | $2.0B | $1.9B | ||
| Q2 25 | $2.0B | $1.9B | ||
| Q1 25 | $2.0B | $1.9B | ||
| Q4 24 | $680.3M | $1.8B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | $1.7B |
| Q4 25 | $3.2B | $442.0M | ||
| Q3 25 | $3.0B | $519.2M | ||
| Q2 25 | $2.7B | $601.9M | ||
| Q1 25 | $2.6B | $680.7M | ||
| Q4 24 | $2.3B | $678.6M | ||
| Q3 24 | $2.1B | $672.2M | ||
| Q2 24 | $1.9B | $711.3M | ||
| Q1 24 | $1.8B | $799.7M |
| Q4 25 | $7.0B | $3.0B | ||
| Q3 25 | $6.7B | $3.2B | ||
| Q2 25 | $6.2B | $3.3B | ||
| Q1 25 | $6.1B | $3.4B | ||
| Q4 24 | $4.5B | $3.3B | ||
| Q3 24 | $4.0B | $3.3B | ||
| Q2 24 | $3.7B | $3.2B | ||
| Q1 24 | $3.6B | $3.3B |
| Q4 25 | 0.56× | 4.25× | ||
| Q3 25 | 0.66× | 3.62× | ||
| Q2 25 | 0.73× | 3.09× | ||
| Q1 25 | 0.79× | 2.73× | ||
| Q4 24 | 0.29× | 2.61× | ||
| Q3 24 | — | 2.64× | ||
| Q2 24 | — | 2.42× | ||
| Q1 24 | — | 2.15× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $217.2M | $47.0M |
| Free Cash FlowOCF − Capex | $155.4M | $36.9M |
| FCF MarginFCF / Revenue | 19.5% | 7.9% |
| Capex IntensityCapex / Revenue | 7.8% | 2.2% |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $-51.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $47.0M | ||
| Q3 25 | $60.0M | $10.7M | ||
| Q2 25 | $-91.7M | $-35.2M | ||
| Q1 25 | $25.8M | $-29.3M | ||
| Q4 24 | $250.2M | $-16.1M | ||
| Q3 24 | $91.3M | $-48.4M | ||
| Q2 24 | $82.8M | $-61.3M | ||
| Q1 24 | $-15.9M | $-25.4M |
| Q4 25 | $155.4M | $36.9M | ||
| Q3 25 | $33.4M | $481.0K | ||
| Q2 25 | $-114.7M | $-46.0M | ||
| Q1 25 | $932.0K | $-42.4M | ||
| Q4 24 | $225.4M | $-39.0M | ||
| Q3 24 | $64.8M | $-63.5M | ||
| Q2 24 | $71.4M | $-72.2M | ||
| Q1 24 | $-32.1M | $-33.1M |
| Q4 25 | 19.5% | 7.9% | ||
| Q3 25 | 4.7% | 0.1% | ||
| Q2 25 | -17.2% | -9.6% | ||
| Q1 25 | 0.2% | -9.4% | ||
| Q4 24 | 39.3% | -7.9% | ||
| Q3 24 | 11.9% | -13.9% | ||
| Q2 24 | 14.2% | -16.9% | ||
| Q1 24 | -7.0% | -8.1% |
| Q4 25 | 7.8% | 2.2% | ||
| Q3 25 | 3.7% | 2.2% | ||
| Q2 25 | 3.4% | 2.3% | ||
| Q1 25 | 4.1% | 2.9% | ||
| Q4 24 | 4.3% | 4.6% | ||
| Q3 24 | 4.9% | 3.3% | ||
| Q2 24 | 2.2% | 2.6% | ||
| Q1 24 | 3.5% | 1.9% |
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -2.54× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
CODI
| Other | $119.5M | 26% |
| A5.11Tactical | $113.9M | 24% |
| Sterno Products | $85.9M | 18% |
| Altor | $60.8M | 13% |
| The Honey Pot | $36.0M | 8% |
| Arnold | $25.4M | 5% |
| Velocity Outdoor | $18.7M | 4% |
| Lugano | $8.3M | 2% |
