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Side-by-side financial comparison of Axon Enterprise (AXON) and Distribution Solutions Group, Inc. (DSGR). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $518.0M, roughly 1.5× Distribution Solutions Group, Inc.). Distribution Solutions Group, Inc. runs the higher net margin — 1.2% vs 0.3%, a 0.9% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 10.7%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $32.9M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 13.1%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Univar Solutions Inc. is a global chemical and ingredients distributor and provider of value-added services.
AXON vs DSGR — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $518.0M |
| Net Profit | $2.7M | $6.5M |
| Gross Margin | 57.9% | 32.9% |
| Operating Margin | -6.3% | 4.6% |
| Net Margin | 0.3% | 1.2% |
| Revenue YoY | 38.9% | 10.7% |
| Net Profit YoY | -98.0% | -70.6% |
| EPS (diluted) | $0.02 | $0.14 |
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 | — | ||
| Q3 25 | $710.6M | $518.0M | ||
| Q2 25 | $668.5M | $502.4M | ||
| Q1 25 | $603.6M | $478.0M | ||
| Q4 24 | $573.4M | $480.5M | ||
| Q3 24 | $544.3M | $468.0M | ||
| Q2 24 | $504.1M | $439.5M | ||
| Q1 24 | $460.7M | $416.1M |
| Q4 25 | $2.7M | — | ||
| Q3 25 | $-2.2M | $6.5M | ||
| Q2 25 | $36.1M | $5.0M | ||
| Q1 25 | $88.0M | $3.3M | ||
| Q4 24 | $136.0M | $-25.9M | ||
| Q3 24 | $67.0M | $21.9M | ||
| Q2 24 | $40.8M | $1.9M | ||
| Q1 24 | $133.2M | $-5.2M |
| Q4 25 | 57.9% | — | ||
| Q3 25 | 60.1% | 32.9% | ||
| Q2 25 | 60.4% | 33.9% | ||
| Q1 25 | 60.6% | 34.3% | ||
| Q4 24 | 60.5% | 33.3% | ||
| Q3 24 | 60.8% | 33.9% | ||
| Q2 24 | 60.3% | 34.5% | ||
| Q1 24 | 56.4% | 34.5% |
| Q4 25 | -6.3% | — | ||
| Q3 25 | -0.3% | 4.6% | ||
| Q2 25 | -0.2% | 5.3% | ||
| Q1 25 | -1.5% | 4.2% | ||
| Q4 24 | -2.6% | 4.2% | ||
| Q3 24 | 4.4% | 4.0% | ||
| Q2 24 | 6.5% | 3.2% | ||
| Q1 24 | 3.5% | 0.7% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | -0.3% | 1.2% | ||
| Q2 25 | 5.4% | 1.0% | ||
| Q1 25 | 14.6% | 0.7% | ||
| Q4 24 | 23.7% | -5.4% | ||
| Q3 24 | 12.3% | 4.7% | ||
| Q2 24 | 8.1% | 0.4% | ||
| Q1 24 | 28.9% | -1.3% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $-0.03 | $0.14 | ||
| Q2 25 | $0.44 | $0.11 | ||
| Q1 25 | $1.08 | $0.07 | ||
| Q4 24 | $1.68 | $-0.55 | ||
| Q3 24 | $0.86 | $0.46 | ||
| Q2 24 | $0.53 | $0.04 | ||
| Q1 24 | $1.73 | $-0.11 |
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 | $69.2M |
| Total DebtLower is stronger | $1.8B | $665.5M |
| Stockholders' EquityBook value | $3.2B | $653.9M |
| Total Assets | $7.0B | $1.8B |
| Debt / EquityLower = less leverage | 0.56× | 1.02× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | — | ||
| Q3 25 | $2.4B | $69.2M | ||
| Q2 25 | $2.1B | $47.4M | ||
| Q1 25 | $2.2B | $65.4M | ||
| Q4 24 | $788.1M | $66.5M | ||
| Q3 24 | $1.0B | $61.3M | ||
| Q2 24 | $968.9M | $46.8M | ||
| Q1 24 | $964.1M | $73.1M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | $665.5M | ||
| Q2 25 | $2.0B | $675.0M | ||
| Q1 25 | $2.0B | $712.4M | ||
| Q4 24 | $680.3M | $693.9M | ||
| Q3 24 | — | $704.1M | ||
| Q2 24 | — | $573.7M | ||
| Q1 24 | — | $535.7M |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | $653.9M | ||
| Q2 25 | $2.7B | $649.4M | ||
| Q1 25 | $2.6B | $636.7M | ||
| Q4 24 | $2.3B | $640.5M | ||
| Q3 24 | $2.1B | $680.8M | ||
| Q2 24 | $1.9B | $653.3M | ||
| Q1 24 | $1.8B | $654.7M |
| Q4 25 | $7.0B | — | ||
| Q3 25 | $6.7B | $1.8B | ||
| Q2 25 | $6.2B | $1.8B | ||
| Q1 25 | $6.1B | $1.8B | ||
| Q4 24 | $4.5B | $1.7B | ||
| Q3 24 | $4.0B | $1.8B | ||
| Q2 24 | $3.7B | $1.6B | ||
| Q1 24 | $3.6B | $1.5B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | 1.02× | ||
| Q2 25 | 0.73× | 1.04× | ||
| Q1 25 | 0.79× | 1.12× | ||
| Q4 24 | 0.29× | 1.08× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 0.82× |
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 | $38.4M |
| Free Cash FlowOCF − Capex | $155.4M | $32.9M |
| FCF MarginFCF / Revenue | 19.5% | 6.3% |
| Capex IntensityCapex / Revenue | 7.8% | 1.1% |
| Cash ConversionOCF / Net Profit | 79.14× | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $92.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | — | ||
| Q3 25 | $60.0M | $38.4M | ||
| Q2 25 | $-91.7M | $33.3M | ||
| Q1 25 | $25.8M | $-4.8M | ||
| Q4 24 | $250.2M | $45.7M | ||
| Q3 24 | $91.3M | $-17.3M | ||
| Q2 24 | $82.8M | $21.4M | ||
| Q1 24 | $-15.9M | $6.6M |
| Q4 25 | $155.4M | — | ||
| Q3 25 | $33.4M | $32.9M | ||
| Q2 25 | $-114.7M | $28.7M | ||
| Q1 25 | $932.0K | $-10.4M | ||
| Q4 24 | $225.4M | $41.1M | ||
| Q3 24 | $64.8M | $-20.5M | ||
| Q2 24 | $71.4M | $18.0M | ||
| Q1 24 | $-32.1M | $4.2M |
| Q4 25 | 19.5% | — | ||
| Q3 25 | 4.7% | 6.3% | ||
| Q2 25 | -17.2% | 5.7% | ||
| Q1 25 | 0.2% | -2.2% | ||
| Q4 24 | 39.3% | 8.6% | ||
| Q3 24 | 11.9% | -4.4% | ||
| Q2 24 | 14.2% | 4.1% | ||
| Q1 24 | -7.0% | 1.0% |
| Q4 25 | 7.8% | — | ||
| Q3 25 | 3.7% | 1.1% | ||
| Q2 25 | 3.4% | 0.9% | ||
| Q1 25 | 4.1% | 1.2% | ||
| Q4 24 | 4.3% | 1.0% | ||
| Q3 24 | 4.9% | 0.7% | ||
| Q2 24 | 2.2% | 0.8% | ||
| Q1 24 | 3.5% | 0.6% |
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | 5.95× | ||
| Q2 25 | -2.54× | 6.66× | ||
| Q1 25 | 0.29× | -1.46× | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | -0.79× | ||
| Q2 24 | 2.03× | 11.28× | ||
| 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% |
DSGR
| Test Equity Segment | $206.5M | 40% |
| Gexpro Services Segment | $130.5M | 25% |
| Lawson Segment | $121.5M | 23% |
| Canada Branch Division Segment | $60.0M | 12% |
