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Side-by-side financial comparison of Axon Enterprise (AXON) and MERCURY GENERAL CORP (MCY). Click either name above to swap in a different company.
MERCURY GENERAL CORP is the larger business by last-quarter revenue ($1.5B vs $796.7M, roughly 1.9× Axon Enterprise). MERCURY GENERAL CORP runs the higher net margin — 13.2% vs 0.3%, a 12.8% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 12.4%). MERCURY GENERAL CORP produced more free cash flow last quarter ($273.9M vs $155.4M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 9.8%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Mercury General Corporation is a multiple-line insurance organization that offers personal automobiles, homeowners, renters, and business insurance. Mercury's primary focus is automobiles and homeowners' insurance.
AXON vs MCY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $1.5B |
| Net Profit | $2.7M | $202.5M |
| Gross Margin | 57.9% | 99.7% |
| Operating Margin | -6.3% | 16.2% |
| Net Margin | 0.3% | 13.2% |
| Revenue YoY | 38.9% | 12.4% |
| Net Profit YoY | -98.0% | 100.4% |
| EPS (diluted) | $0.02 | $3.66 |
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 | $1.5B | ||
| Q3 25 | $710.6M | $1.6B | ||
| Q2 25 | $668.5M | $1.5B | ||
| Q1 25 | $603.6M | $1.4B | ||
| Q4 24 | $573.4M | $1.4B | ||
| Q3 24 | $544.3M | $1.5B | ||
| Q2 24 | $504.1M | $1.3B | ||
| Q1 24 | $460.7M | $1.3B |
| Q4 25 | $2.7M | $202.5M | ||
| Q3 25 | $-2.2M | $280.4M | ||
| Q2 25 | $36.1M | $166.5M | ||
| Q1 25 | $88.0M | $-108.3M | ||
| Q4 24 | $136.0M | $101.1M | ||
| Q3 24 | $67.0M | $230.9M | ||
| Q2 24 | $40.8M | $62.6M | ||
| Q1 24 | $133.2M | $73.5M |
| Q4 25 | 57.9% | 99.7% | ||
| Q3 25 | 60.1% | 99.8% | ||
| Q2 25 | 60.4% | 99.8% | ||
| Q1 25 | 60.6% | 99.7% | ||
| Q4 24 | 60.5% | 99.7% | ||
| Q3 24 | 60.8% | 99.8% | ||
| Q2 24 | 60.3% | 99.8% | ||
| Q1 24 | 56.4% | 99.7% |
| Q4 25 | -6.3% | 16.2% | ||
| Q3 25 | -0.3% | 22.1% | ||
| Q2 25 | -0.2% | 14.0% | ||
| Q1 25 | -1.5% | -10.2% | ||
| Q4 24 | -2.6% | 9.0% | ||
| Q3 24 | 4.4% | 18.8% | ||
| Q2 24 | 6.5% | 5.8% | ||
| Q1 24 | 3.5% | 7.0% |
| Q4 25 | 0.3% | 13.2% | ||
| Q3 25 | -0.3% | 17.7% | ||
| Q2 25 | 5.4% | 11.3% | ||
| Q1 25 | 14.6% | -7.8% | ||
| Q4 24 | 23.7% | 7.4% | ||
| Q3 24 | 12.3% | 15.1% | ||
| Q2 24 | 8.1% | 4.8% | ||
| Q1 24 | 28.9% | 5.8% |
| Q4 25 | $0.02 | $3.66 | ||
| Q3 25 | $-0.03 | $5.06 | ||
| Q2 25 | $0.44 | $3.01 | ||
| Q1 25 | $1.08 | $-1.96 | ||
| Q4 24 | $1.68 | $1.82 | ||
| Q3 24 | $0.86 | $4.17 | ||
| Q2 24 | $0.53 | $1.13 | ||
| Q1 24 | $1.73 | $1.33 |
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 | — |
| Total DebtLower is stronger | $1.8B | $575.0M |
| Stockholders' EquityBook value | $3.2B | $2.4B |
| Total Assets | $7.0B | $9.6B |
| Debt / EquityLower = less leverage | 0.56× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $788.1M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $968.9M | — | ||
| Q1 24 | $964.1M | — |
| Q4 25 | $1.8B | $575.0M | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $680.3M | $575.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.2B | $2.4B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $2.7B | $2.0B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.3B | $1.9B | ||
| Q3 24 | $2.1B | $1.9B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.8B | $1.6B |
| Q4 25 | $7.0B | $9.6B | ||
| Q3 25 | $6.7B | $9.4B | ||
| Q2 25 | $6.2B | $9.1B | ||
| Q1 25 | $6.1B | $9.0B | ||
| Q4 24 | $4.5B | $8.3B | ||
| Q3 24 | $4.0B | $8.2B | ||
| Q2 24 | $3.7B | $7.7B | ||
| Q1 24 | $3.6B | $7.4B |
| Q4 25 | 0.56× | 0.24× | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | 0.30× | ||
| 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 | $287.9M |
| Free Cash FlowOCF − Capex | $155.4M | $273.9M |
| FCF MarginFCF / Revenue | 19.5% | 17.8% |
| Capex IntensityCapex / Revenue | 7.8% | 0.9% |
| Cash ConversionOCF / Net Profit | 79.14× | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $1.0B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $287.9M | ||
| Q3 25 | $60.0M | $496.4M | ||
| Q2 25 | $-91.7M | $371.6M | ||
| Q1 25 | $25.8M | $-68.7M | ||
| Q4 24 | $250.2M | $248.3M | ||
| Q3 24 | $91.3M | $318.1M | ||
| Q2 24 | $82.8M | $278.0M | ||
| Q1 24 | $-15.9M | $192.6M |
| Q4 25 | $155.4M | $273.9M | ||
| Q3 25 | $33.4M | $479.5M | ||
| Q2 25 | $-114.7M | $357.2M | ||
| Q1 25 | $932.0K | $-81.9M | ||
| Q4 24 | $225.4M | $236.0M | ||
| Q3 24 | $64.8M | $306.2M | ||
| Q2 24 | $71.4M | $266.5M | ||
| Q1 24 | $-32.1M | $182.4M |
| Q4 25 | 19.5% | 17.8% | ||
| Q3 25 | 4.7% | 30.3% | ||
| Q2 25 | -17.2% | 24.2% | ||
| Q1 25 | 0.2% | -5.9% | ||
| Q4 24 | 39.3% | 17.3% | ||
| Q3 24 | 11.9% | 20.0% | ||
| Q2 24 | 14.2% | 20.4% | ||
| Q1 24 | -7.0% | 14.3% |
| Q4 25 | 7.8% | 0.9% | ||
| Q3 25 | 3.7% | 1.1% | ||
| Q2 25 | 3.4% | 1.0% | ||
| Q1 25 | 4.1% | 0.9% | ||
| Q4 24 | 4.3% | 0.9% | ||
| Q3 24 | 4.9% | 0.8% | ||
| Q2 24 | 2.2% | 0.9% | ||
| Q1 24 | 3.5% | 0.8% |
| Q4 25 | 79.14× | 1.42× | ||
| Q3 25 | — | 1.77× | ||
| Q2 25 | -2.54× | 2.23× | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 1.84× | 2.46× | ||
| Q3 24 | 1.36× | 1.38× | ||
| Q2 24 | 2.03× | 4.44× | ||
| Q1 24 | -0.12× | 2.62× |
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% |
MCY
Segment breakdown not available.
