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Side-by-side financial comparison of Axon Enterprise (AXON) and Equity Residential (EQR). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $781.9M, roughly 1.0× Equity Residential). Equity Residential runs the higher net margin — 48.9% vs 0.3%, a 48.5% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 2.0%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 3.4%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Equity Residential is a United States–based publicly traded real estate investment trust that invests in apartments.
AXON vs EQR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $781.9M |
| Net Profit | $2.7M | $382.1M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 50.6% |
| Net Margin | 0.3% | 48.9% |
| Revenue YoY | 38.9% | 2.0% |
| Net Profit YoY | -98.0% | -8.8% |
| EPS (diluted) | $0.02 | $1.01 |
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 | $781.9M | ||
| Q3 25 | $710.6M | $782.4M | ||
| Q2 25 | $668.5M | $768.8M | ||
| Q1 25 | $603.6M | $760.8M | ||
| Q4 24 | $573.4M | $766.8M | ||
| Q3 24 | $544.3M | $748.3M | ||
| Q2 24 | $504.1M | $734.2M | ||
| Q1 24 | $460.7M | $730.8M |
| Q4 25 | $2.7M | $382.1M | ||
| Q3 25 | $-2.2M | $289.1M | ||
| Q2 25 | $36.1M | $192.4M | ||
| Q1 25 | $88.0M | $256.6M | ||
| Q4 24 | $136.0M | $419.1M | ||
| Q3 24 | $67.0M | $143.4M | ||
| Q2 24 | $40.8M | $177.5M | ||
| Q1 24 | $133.2M | $295.8M |
| Q4 25 | 57.9% | — | ||
| Q3 25 | 60.1% | — | ||
| Q2 25 | 60.4% | — | ||
| Q1 25 | 60.6% | — | ||
| Q4 24 | 60.5% | — | ||
| Q3 24 | 60.8% | — | ||
| Q2 24 | 60.3% | — | ||
| Q1 24 | 56.4% | — |
| Q4 25 | -6.3% | 50.6% | ||
| Q3 25 | -0.3% | 38.5% | ||
| Q2 25 | -0.2% | 26.6% | ||
| Q1 25 | -1.5% | 35.7% | ||
| Q4 24 | -2.6% | 57.2% | ||
| Q3 24 | 4.4% | 20.1% | ||
| Q2 24 | 6.5% | 25.3% | ||
| Q1 24 | 3.5% | 42.0% |
| Q4 25 | 0.3% | 48.9% | ||
| Q3 25 | -0.3% | 36.9% | ||
| Q2 25 | 5.4% | 25.0% | ||
| Q1 25 | 14.6% | 33.7% | ||
| Q4 24 | 23.7% | 54.7% | ||
| Q3 24 | 12.3% | 19.2% | ||
| Q2 24 | 8.1% | 24.2% | ||
| Q1 24 | 28.9% | 40.5% |
| Q4 25 | $0.02 | $1.01 | ||
| Q3 25 | $-0.03 | $0.76 | ||
| Q2 25 | $0.44 | $0.50 | ||
| Q1 25 | $1.08 | $0.67 | ||
| Q4 24 | $1.68 | $1.10 | ||
| Q3 24 | $0.86 | $0.38 | ||
| Q2 24 | $0.53 | $0.47 | ||
| Q1 24 | $1.73 | $0.77 |
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 | $55.9M |
| Total DebtLower is stronger | $1.8B | $8.2B |
| Stockholders' EquityBook value | $3.2B | $11.0B |
| Total Assets | $7.0B | $20.7B |
| Debt / EquityLower = less leverage | 0.56× | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $55.9M | ||
| Q3 25 | $2.4B | $93.1M | ||
| Q2 25 | $2.1B | $31.3M | ||
| Q1 25 | $2.2B | $39.8M | ||
| Q4 24 | $788.1M | $62.3M | ||
| Q3 24 | $1.0B | $28.6M | ||
| Q2 24 | $968.9M | $38.3M | ||
| Q1 24 | $964.1M | $44.5M |
| Q4 25 | $1.8B | $8.2B | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $680.3M | $8.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.2B | $11.0B | ||
| Q3 25 | $3.0B | $11.1B | ||
| Q2 25 | $2.7B | $11.0B | ||
| Q1 25 | $2.6B | $11.0B | ||
| Q4 24 | $2.3B | $11.0B | ||
| Q3 24 | $2.1B | $10.9B | ||
| Q2 24 | $1.9B | $11.0B | ||
| Q1 24 | $1.8B | $11.1B |
| Q4 25 | $7.0B | $20.7B | ||
| Q3 25 | $6.7B | $21.1B | ||
| Q2 25 | $6.2B | $21.0B | ||
| Q1 25 | $6.1B | $20.6B | ||
| Q4 24 | $4.5B | $20.8B | ||
| Q3 24 | $4.0B | $20.9B | ||
| Q2 24 | $3.7B | $19.8B | ||
| Q1 24 | $3.6B | $19.9B |
| Q4 25 | 0.56× | 0.75× | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | 0.74× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $387.0M |
| Free Cash FlowOCF − Capex | $155.4M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 79.14× | 1.01× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $387.0M | ||
| Q3 25 | $60.0M | $476.7M | ||
| Q2 25 | $-91.7M | $359.5M | ||
| Q1 25 | $25.8M | $425.5M | ||
| Q4 24 | $250.2M | $354.2M | ||
| Q3 24 | $91.3M | $401.4M | ||
| Q2 24 | $82.8M | $396.9M | ||
| Q1 24 | $-15.9M | $421.0M |
| Q4 25 | $155.4M | — | ||
| Q3 25 | $33.4M | — | ||
| Q2 25 | $-114.7M | — | ||
| Q1 25 | $932.0K | — | ||
| Q4 24 | $225.4M | — | ||
| Q3 24 | $64.8M | — | ||
| Q2 24 | $71.4M | — | ||
| Q1 24 | $-32.1M | — |
| Q4 25 | 19.5% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | -17.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 39.3% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 14.2% | — | ||
| Q1 24 | -7.0% | — |
| Q4 25 | 7.8% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 3.5% | — |
| Q4 25 | 79.14× | 1.01× | ||
| Q3 25 | — | 1.65× | ||
| Q2 25 | -2.54× | 1.87× | ||
| Q1 25 | 0.29× | 1.66× | ||
| Q4 24 | 1.84× | 0.85× | ||
| Q3 24 | 1.36× | 2.80× | ||
| Q2 24 | 2.03× | 2.24× | ||
| Q1 24 | -0.12× | 1.42× |
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% |
EQR
Segment breakdown not available.
