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Side-by-side financial comparison of Axon Enterprise (AXON) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $420.0M, roughly 1.9× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 0.3%, a 56.7% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 6.3%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 5.0%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
AXON vs GLPI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $420.0M |
| Net Profit | $2.7M | $239.4M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 79.4% |
| Net Margin | 0.3% | 57.0% |
| Revenue YoY | 38.9% | 6.3% |
| Net Profit YoY | -98.0% | 40.5% |
| EPS (diluted) | $0.02 | — |
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.
| Q1 26 | — | $420.0M | ||
| Q4 25 | $796.7M | $407.0M | ||
| Q3 25 | $710.6M | $397.6M | ||
| Q2 25 | $668.5M | $394.9M | ||
| Q1 25 | $603.6M | $395.2M | ||
| Q4 24 | $573.4M | $389.6M | ||
| Q3 24 | $544.3M | $385.3M | ||
| Q2 24 | $504.1M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $2.7M | $275.4M | ||
| Q3 25 | $-2.2M | $241.2M | ||
| Q2 25 | $36.1M | $151.4M | ||
| Q1 25 | $88.0M | $165.2M | ||
| Q4 24 | $136.0M | $223.6M | ||
| Q3 24 | $67.0M | $184.7M | ||
| Q2 24 | $40.8M | $208.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 79.4% | ||
| Q4 25 | -6.3% | 89.3% | ||
| Q3 25 | -0.3% | 84.8% | ||
| Q2 25 | -0.2% | 61.3% | ||
| Q1 25 | -1.5% | 65.5% | ||
| Q4 24 | -2.6% | 79.1% | ||
| Q3 24 | 4.4% | 70.4% | ||
| Q2 24 | 6.5% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | 0.3% | 67.6% | ||
| Q3 25 | -0.3% | 60.7% | ||
| Q2 25 | 5.4% | 38.4% | ||
| Q1 25 | 14.6% | 41.8% | ||
| Q4 24 | 23.7% | 57.4% | ||
| Q3 24 | 12.3% | 47.9% | ||
| Q2 24 | 8.1% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | $0.02 | $0.96 | ||
| Q3 25 | $-0.03 | $0.85 | ||
| Q2 25 | $0.44 | $0.54 | ||
| Q1 25 | $1.08 | $0.60 | ||
| Q4 24 | $1.68 | $0.79 | ||
| Q3 24 | $0.86 | $0.67 | ||
| Q2 24 | $0.53 | $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 | $274.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $5.0B |
| Total Assets | $7.0B | $13.8B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $788.1M | $560.8M | ||
| Q3 24 | $1.0B | $560.8M | ||
| Q2 24 | $968.9M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $7.2B | ||
| Q3 25 | $2.0B | $7.2B | ||
| Q2 25 | $2.0B | $6.9B | ||
| Q1 25 | $2.0B | $6.9B | ||
| Q4 24 | $680.3M | $7.7B | ||
| Q3 24 | — | $7.4B | ||
| Q2 24 | — | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $3.2B | $4.6B | ||
| Q3 25 | $3.0B | $4.6B | ||
| Q2 25 | $2.7B | $4.6B | ||
| Q1 25 | $2.6B | $4.2B | ||
| Q4 24 | $2.3B | $4.3B | ||
| Q3 24 | $2.1B | $4.3B | ||
| Q2 24 | $1.9B | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $7.0B | $12.9B | ||
| Q3 25 | $6.7B | $12.8B | ||
| Q2 25 | $6.2B | $12.5B | ||
| Q1 25 | $6.1B | $12.1B | ||
| Q4 24 | $4.5B | $13.1B | ||
| Q3 24 | $4.0B | $12.7B | ||
| Q2 24 | $3.7B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.56× | 1.56× | ||
| Q3 25 | 0.66× | 1.57× | ||
| Q2 25 | 0.73× | 1.51× | ||
| Q1 25 | 0.79× | 1.63× | ||
| Q4 24 | 0.29× | 1.81× | ||
| Q3 24 | — | 1.74× | ||
| Q2 24 | — | 1.60× |
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 | — |
| Free Cash FlowOCF − Capex | $155.4M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $217.2M | $1.1B | ||
| Q3 25 | $60.0M | $240.3M | ||
| Q2 25 | $-91.7M | $293.4M | ||
| Q1 25 | $25.8M | $252.5M | ||
| Q4 24 | $250.2M | $1.1B | ||
| Q3 24 | $91.3M | $270.4M | ||
| Q2 24 | $82.8M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $155.4M | — | ||
| Q3 25 | $33.4M | $183.0M | ||
| Q2 25 | $-114.7M | $272.3M | ||
| Q1 25 | $932.0K | $239.6M | ||
| Q4 24 | $225.4M | $1.1B | ||
| Q3 24 | $64.8M | $261.5M | ||
| Q2 24 | $71.4M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | 19.5% | — | ||
| Q3 25 | 4.7% | 46.0% | ||
| Q2 25 | -17.2% | 69.0% | ||
| Q1 25 | 0.2% | 60.6% | ||
| Q4 24 | 39.3% | 275.3% | ||
| Q3 24 | 11.9% | 67.9% | ||
| Q2 24 | 14.2% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 7.8% | — | ||
| Q3 25 | 3.7% | 14.4% | ||
| Q2 25 | 3.4% | 5.3% | ||
| Q1 25 | 4.1% | 3.3% | ||
| Q4 24 | 4.3% | 0.0% | ||
| Q3 24 | 4.9% | 2.3% | ||
| Q2 24 | 2.2% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 79.14× | 4.10× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | -2.54× | 1.94× | ||
| Q1 25 | 0.29× | 1.53× | ||
| Q4 24 | 1.84× | 4.80× | ||
| Q3 24 | 1.36× | 1.46× | ||
| Q2 24 | 2.03× | 1.21× |
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% |
GLPI
Segment breakdown not available.
