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Side-by-side financial comparison of Axon Enterprise (AXON) and Essex Property Trust (ESS). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $479.6M, roughly 1.7× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 0.3%, a 17.5% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 5.5%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 6.0%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
AXON vs ESS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $479.6M |
| Net Profit | $2.7M | $85.7M |
| Gross Margin | 57.9% | 70.0% |
| Operating Margin | -6.3% | 31.7% |
| Net Margin | 0.3% | 17.9% |
| Revenue YoY | 38.9% | 5.5% |
| Net Profit YoY | -98.0% | -71.6% |
| EPS (diluted) | $0.02 | $1.24 |
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 | $479.6M | ||
| Q3 25 | $710.6M | $473.3M | ||
| Q2 25 | $668.5M | $469.8M | ||
| Q1 25 | $603.6M | $464.6M | ||
| Q4 24 | $573.4M | $454.5M | ||
| Q3 24 | $544.3M | $450.7M | ||
| Q2 24 | $504.1M | $442.4M | ||
| Q1 24 | $460.7M | $426.9M |
| Q4 25 | $2.7M | $85.7M | ||
| Q3 25 | $-2.2M | $172.7M | ||
| Q2 25 | $36.1M | $231.5M | ||
| Q1 25 | $88.0M | $212.8M | ||
| Q4 24 | $136.0M | $301.7M | ||
| Q3 24 | $67.0M | $125.5M | ||
| Q2 24 | $40.8M | $99.0M | ||
| Q1 24 | $133.2M | $285.1M |
| Q4 25 | 57.9% | 70.0% | ||
| Q3 25 | 60.1% | 69.2% | ||
| Q2 25 | 60.4% | 70.7% | ||
| Q1 25 | 60.6% | 69.6% | ||
| Q4 24 | 60.5% | 70.0% | ||
| Q3 24 | 60.8% | 69.5% | ||
| Q2 24 | 60.3% | 70.8% | ||
| Q1 24 | 56.4% | 69.7% |
| Q4 25 | -6.3% | 31.7% | ||
| Q3 25 | -0.3% | 44.5% | ||
| Q2 25 | -0.2% | 59.5% | ||
| Q1 25 | -1.5% | 55.3% | ||
| Q4 24 | -2.6% | 67.0% | ||
| Q3 24 | 4.4% | 28.6% | ||
| Q2 24 | 6.5% | 31.1% | ||
| Q1 24 | 3.5% | 31.0% |
| Q4 25 | 0.3% | 17.9% | ||
| Q3 25 | -0.3% | 36.5% | ||
| Q2 25 | 5.4% | 49.3% | ||
| Q1 25 | 14.6% | 45.8% | ||
| Q4 24 | 23.7% | 66.4% | ||
| Q3 24 | 12.3% | 27.8% | ||
| Q2 24 | 8.1% | 22.4% | ||
| Q1 24 | 28.9% | 66.8% |
| Q4 25 | $0.02 | $1.24 | ||
| Q3 25 | $-0.03 | $2.56 | ||
| Q2 25 | $0.44 | $3.44 | ||
| Q1 25 | $1.08 | $3.16 | ||
| Q4 24 | $1.68 | $4.00 | ||
| Q3 24 | $0.86 | $1.84 | ||
| Q2 24 | $0.53 | $1.45 | ||
| Q1 24 | $1.73 | $4.25 |
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 | $76.2M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $5.5B |
| Total Assets | $7.0B | $13.2B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $76.2M | ||
| Q3 25 | $2.4B | $66.0M | ||
| Q2 25 | $2.1B | $58.7M | ||
| Q1 25 | $2.2B | $98.7M | ||
| Q4 24 | $788.1M | $66.8M | ||
| Q3 24 | $1.0B | $71.3M | ||
| Q2 24 | $968.9M | $55.2M | ||
| Q1 24 | $964.1M | $499.0M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | $6.4B | ||
| Q2 25 | $2.0B | $6.4B | ||
| Q1 25 | $2.0B | $6.8B | ||
| Q4 24 | $680.3M | — | ||
| Q3 24 | — | $6.4B | ||
| Q2 24 | — | $6.2B | ||
| Q1 24 | — | $6.6B |
| Q4 25 | $3.2B | $5.5B | ||
| Q3 25 | $3.0B | $5.6B | ||
| Q2 25 | $2.7B | $5.6B | ||
| Q1 25 | $2.6B | $5.6B | ||
| Q4 24 | $2.3B | $5.5B | ||
| Q3 24 | $2.1B | $5.4B | ||
| Q2 24 | $1.9B | $5.5B | ||
| Q1 24 | $1.8B | $5.5B |
| Q4 25 | $7.0B | $13.2B | ||
| Q3 25 | $6.7B | $13.2B | ||
| Q2 25 | $6.2B | $13.2B | ||
| Q1 25 | $6.1B | $13.2B | ||
| Q4 24 | $4.5B | $12.9B | ||
| Q3 24 | $4.0B | $12.6B | ||
| Q2 24 | $3.7B | $12.5B | ||
| Q1 24 | $3.6B | $12.9B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | 1.15× | ||
| Q2 25 | 0.73× | 1.14× | ||
| Q1 25 | 0.79× | 1.22× | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.13× | ||
| Q1 24 | — | 1.19× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $155.4M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 79.14× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $1.1B | ||
| Q3 25 | $60.0M | $342.6M | ||
| Q2 25 | $-91.7M | $216.1M | ||
| Q1 25 | $25.8M | $281.5M | ||
| Q4 24 | $250.2M | $1.1B | ||
| Q3 24 | $91.3M | $316.2M | ||
| Q2 24 | $82.8M | $218.9M | ||
| Q1 24 | $-15.9M | $314.9M |
| 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× | 12.53× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | -2.54× | 0.93× | ||
| Q1 25 | 0.29× | 1.32× | ||
| Q4 24 | 1.84× | 3.54× | ||
| Q3 24 | 1.36× | 2.52× | ||
| Q2 24 | 2.03× | 2.21× | ||
| Q1 24 | -0.12× | 1.10× |
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% |
ESS
Segment breakdown not available.
