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Side-by-side financial comparison of Axon Enterprise (AXON) and Graham Holdings Co (GHC). Click either name above to swap in a different company.
Graham Holdings Co is the larger business by last-quarter revenue ($1.3B vs $796.7M, roughly 1.6× Axon Enterprise). Graham Holdings Co runs the higher net margin — 8.7% vs 0.3%, a 8.3% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 0.4%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $5.0M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 4.2%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.
AXON vs GHC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $1.3B |
| Net Profit | $2.7M | $108.7M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 3.8% |
| Net Margin | 0.3% | 8.7% |
| Revenue YoY | 38.9% | 0.4% |
| Net Profit YoY | -98.0% | -80.2% |
| EPS (diluted) | $0.02 | $24.76 |
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 | $1.3B | ||
| Q3 25 | $710.6M | $1.3B | ||
| Q2 25 | $668.5M | $1.2B | ||
| Q1 25 | $603.6M | $1.2B | ||
| Q4 24 | $573.4M | $1.2B | ||
| Q3 24 | $544.3M | $1.2B | ||
| Q2 24 | $504.1M | $1.2B | ||
| Q1 24 | $460.7M | $1.2B |
| Q4 25 | $2.7M | $108.7M | ||
| Q3 25 | $-2.2M | $122.9M | ||
| Q2 25 | $36.1M | $36.7M | ||
| Q1 25 | $88.0M | $23.9M | ||
| Q4 24 | $136.0M | $548.8M | ||
| Q3 24 | $67.0M | $72.5M | ||
| Q2 24 | $40.8M | $-21.0M | ||
| Q1 24 | $133.2M | $124.4M |
| 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% | 3.8% | ||
| Q3 25 | -0.3% | 5.2% | ||
| Q2 25 | -0.2% | 6.0% | ||
| Q1 25 | -1.5% | 4.1% | ||
| Q4 24 | -2.6% | 5.8% | ||
| Q3 24 | 4.4% | 6.8% | ||
| Q2 24 | 6.5% | 2.2% | ||
| Q1 24 | 3.5% | 3.1% |
| Q4 25 | 0.3% | 8.7% | ||
| Q3 25 | -0.3% | 9.6% | ||
| Q2 25 | 5.4% | 3.0% | ||
| Q1 25 | 14.6% | 2.0% | ||
| Q4 24 | 23.7% | 44.1% | ||
| Q3 24 | 12.3% | 6.0% | ||
| Q2 24 | 8.1% | -1.8% | ||
| Q1 24 | 28.9% | 10.8% |
| Q4 25 | $0.02 | $24.76 | ||
| Q3 25 | $-0.03 | $27.91 | ||
| Q2 25 | $0.44 | $8.35 | ||
| Q1 25 | $1.08 | $5.45 | ||
| Q4 24 | $1.68 | $124.05 | ||
| Q3 24 | $0.86 | $16.42 | ||
| Q2 24 | $0.53 | $-4.79 | ||
| Q1 24 | $1.73 | $27.72 |
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 | $267.0M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $4.8B |
| Total Assets | $7.0B | $8.4B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $267.0M | ||
| Q3 25 | $2.4B | $190.8M | ||
| Q2 25 | $2.1B | $176.2M | ||
| Q1 25 | $2.2B | $156.7M | ||
| Q4 24 | $788.1M | $260.9M | ||
| Q3 24 | $1.0B | $244.4M | ||
| Q2 24 | $968.9M | $140.7M | ||
| Q1 24 | $964.1M | $130.9M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $680.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.2B | $4.8B | ||
| Q3 25 | $3.0B | $4.5B | ||
| Q2 25 | $2.7B | $4.4B | ||
| Q1 25 | $2.6B | $4.3B | ||
| Q4 24 | $2.3B | $4.3B | ||
| Q3 24 | $2.1B | $4.0B | ||
| Q2 24 | $1.9B | $4.0B | ||
| Q1 24 | $1.8B | $4.0B |
| Q4 25 | $7.0B | $8.4B | ||
| Q3 25 | $6.7B | $7.9B | ||
| Q2 25 | $6.2B | $7.6B | ||
| Q1 25 | $6.1B | $7.6B | ||
| Q4 24 | $4.5B | $7.7B | ||
| Q3 24 | $4.0B | $7.4B | ||
| Q2 24 | $3.7B | $7.2B | ||
| Q1 24 | $3.6B | $7.3B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | — | ||
| 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 | $28.3M |
| Free Cash FlowOCF − Capex | $155.4M | $5.0M |
| FCF MarginFCF / Revenue | 19.5% | 0.4% |
| Capex IntensityCapex / Revenue | 7.8% | 1.9% |
| Cash ConversionOCF / Net Profit | 79.14× | 0.26× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $275.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $28.3M | ||
| Q3 25 | $60.0M | $178.1M | ||
| Q2 25 | $-91.7M | $94.8M | ||
| Q1 25 | $25.8M | $46.0M | ||
| Q4 24 | $250.2M | $116.3M | ||
| Q3 24 | $91.3M | $237.6M | ||
| Q2 24 | $82.8M | $52.0M | ||
| Q1 24 | $-15.9M | $1.1M |
| Q4 25 | $155.4M | $5.0M | ||
| Q3 25 | $33.4M | $161.8M | ||
| Q2 25 | $-114.7M | $78.0M | ||
| Q1 25 | $932.0K | $30.5M | ||
| Q4 24 | $225.4M | $91.1M | ||
| Q3 24 | $64.8M | $219.4M | ||
| Q2 24 | $71.4M | $33.7M | ||
| Q1 24 | $-32.1M | $-20.2M |
| Q4 25 | 19.5% | 0.4% | ||
| Q3 25 | 4.7% | 12.6% | ||
| Q2 25 | -17.2% | 6.4% | ||
| Q1 25 | 0.2% | 2.6% | ||
| Q4 24 | 39.3% | 7.3% | ||
| Q3 24 | 11.9% | 18.2% | ||
| Q2 24 | 14.2% | 2.8% | ||
| Q1 24 | -7.0% | -1.8% |
| Q4 25 | 7.8% | 1.9% | ||
| Q3 25 | 3.7% | 1.3% | ||
| Q2 25 | 3.4% | 1.4% | ||
| Q1 25 | 4.1% | 1.3% | ||
| Q4 24 | 4.3% | 2.0% | ||
| Q3 24 | 4.9% | 1.5% | ||
| Q2 24 | 2.2% | 1.5% | ||
| Q1 24 | 3.5% | 1.8% |
| Q4 25 | 79.14× | 0.26× | ||
| Q3 25 | — | 1.45× | ||
| Q2 25 | -2.54× | 2.58× | ||
| Q1 25 | 0.29× | 1.93× | ||
| Q4 24 | 1.84× | 0.21× | ||
| Q3 24 | 1.36× | 3.28× | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | 0.01× |
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% |
GHC
| Products | $602.7M | 48% |
| Kaplan International | $251.9M | 20% |
| Manufacturing | $117.8M | 9% |
| Television Broadcasting | $110.5M | 9% |
| Higher Education | $83.8M | 7% |
| Supplemental Education | $74.9M | 6% |
| Related Party | $4.4M | 0% |
