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Side-by-side financial comparison of Axon Enterprise (AXON) and NPK International Inc. (NPKI). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $75.2M, roughly 10.6× NPK International Inc.). On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 30.7%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $5.8M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 23.9%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
AXON vs NPKI — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $75.2M |
| Net Profit | $2.7M | — |
| Gross Margin | 57.9% | 37.7% |
| Operating Margin | -6.3% | 16.7% |
| Net Margin | 0.3% | — |
| Revenue YoY | 38.9% | 30.7% |
| Net Profit YoY | -98.0% | — |
| EPS (diluted) | $0.02 | $0.17 |
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 | $75.2M | ||
| Q3 25 | $710.6M | $68.8M | ||
| Q2 25 | $668.5M | $68.2M | ||
| Q1 25 | $603.6M | $64.8M | ||
| Q4 24 | $573.4M | $57.5M | ||
| Q3 24 | $544.3M | $44.2M | ||
| Q2 24 | $504.1M | $66.8M | ||
| Q1 24 | $460.7M | $49.0M |
| Q4 25 | $2.7M | — | ||
| Q3 25 | $-2.2M | $5.7M | ||
| Q2 25 | $36.1M | $8.7M | ||
| Q1 25 | $88.0M | $10.0M | ||
| Q4 24 | $136.0M | — | ||
| Q3 24 | $67.0M | $-174.3M | ||
| Q2 24 | $40.8M | $8.0M | ||
| Q1 24 | $133.2M | $7.3M |
| Q4 25 | 57.9% | 37.7% | ||
| Q3 25 | 60.1% | 31.9% | ||
| Q2 25 | 60.4% | 36.9% | ||
| Q1 25 | 60.6% | 39.0% | ||
| Q4 24 | 60.5% | 39.2% | ||
| Q3 24 | 60.8% | 27.5% | ||
| Q2 24 | 60.3% | 37.2% | ||
| Q1 24 | 56.4% | 36.0% |
| Q4 25 | -6.3% | 16.7% | ||
| Q3 25 | -0.3% | 13.2% | ||
| Q2 25 | -0.2% | 17.0% | ||
| Q1 25 | -1.5% | 20.9% | ||
| Q4 24 | -2.6% | 20.2% | ||
| Q3 24 | 4.4% | 2.8% | ||
| Q2 24 | 6.5% | 18.7% | ||
| Q1 24 | 3.5% | 14.2% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | -0.3% | 8.2% | ||
| Q2 25 | 5.4% | 12.7% | ||
| Q1 25 | 14.6% | 15.4% | ||
| Q4 24 | 23.7% | — | ||
| Q3 24 | 12.3% | -394.3% | ||
| Q2 24 | 8.1% | 12.0% | ||
| Q1 24 | 28.9% | 14.9% |
| Q4 25 | $0.02 | $0.17 | ||
| Q3 25 | $-0.03 | $0.07 | ||
| Q2 25 | $0.44 | $0.10 | ||
| Q1 25 | $1.08 | $0.11 | ||
| Q4 24 | $1.68 | $0.10 | ||
| Q3 24 | $0.86 | $-1.99 | ||
| Q2 24 | $0.53 | $0.09 | ||
| Q1 24 | $1.73 | $0.08 |
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 | $5.1M |
| Total DebtLower is stronger | $1.8B | $16.9M |
| Stockholders' EquityBook value | $3.2B | $351.2M |
| Total Assets | $7.0B | $441.8M |
| Debt / EquityLower = less leverage | 0.56× | 0.05× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $5.1M | ||
| Q3 25 | $2.4B | $35.6M | ||
| Q2 25 | $2.1B | $26.0M | ||
| Q1 25 | $2.2B | $20.8M | ||
| Q4 24 | $788.1M | $17.8M | ||
| Q3 24 | $1.0B | $42.9M | ||
| Q2 24 | $968.9M | $35.1M | ||
| Q1 24 | $964.1M | $37.7M |
| Q4 25 | $1.8B | $16.9M | ||
| Q3 25 | $2.0B | $9.5M | ||
| Q2 25 | $2.0B | $9.3M | ||
| Q1 25 | $2.0B | $8.1M | ||
| Q4 24 | $680.3M | $7.7M | ||
| Q3 24 | — | $14.0M | ||
| Q2 24 | — | $58.0M | ||
| Q1 24 | — | $77.4M |
| Q4 25 | $3.2B | $351.2M | ||
| Q3 25 | $3.0B | $333.9M | ||
| Q2 25 | $2.7B | $328.8M | ||
| Q1 25 | $2.6B | $326.9M | ||
| Q4 24 | $2.3B | $326.5M | ||
| Q3 24 | $2.1B | $316.5M | ||
| Q2 24 | $1.9B | $426.6M | ||
| Q1 24 | $1.8B | $421.6M |
| Q4 25 | $7.0B | $441.8M | ||
| Q3 25 | $6.7B | $404.5M | ||
| Q2 25 | $6.2B | $393.7M | ||
| Q1 25 | $6.1B | $390.0M | ||
| Q4 24 | $4.5B | $393.7M | ||
| Q3 24 | $4.0B | $389.6M | ||
| Q2 24 | $3.7B | $624.8M | ||
| Q1 24 | $3.6B | $640.8M |
| Q4 25 | 0.56× | 0.05× | ||
| Q3 25 | 0.66× | 0.03× | ||
| Q2 25 | 0.73× | 0.03× | ||
| Q1 25 | 0.79× | 0.02× | ||
| Q4 24 | 0.29× | 0.02× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.18× |
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 | $18.0M |
| Free Cash FlowOCF − Capex | $155.4M | $5.8M |
| FCF MarginFCF / Revenue | 19.5% | 7.6% |
| Capex IntensityCapex / Revenue | 7.8% | 16.3% |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $26.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $18.0M | ||
| Q3 25 | $60.0M | $24.7M | ||
| Q2 25 | $-91.7M | $21.4M | ||
| Q1 25 | $25.8M | $8.8M | ||
| Q4 24 | $250.2M | $-4.1M | ||
| Q3 24 | $91.3M | $2.8M | ||
| Q2 24 | $82.8M | $27.6M | ||
| Q1 24 | $-15.9M | $11.9M |
| Q4 25 | $155.4M | $5.8M | ||
| Q3 25 | $33.4M | $12.0M | ||
| Q2 25 | $-114.7M | $9.7M | ||
| Q1 25 | $932.0K | $-1.2M | ||
| Q4 24 | $225.4M | $-17.7M | ||
| Q3 24 | $64.8M | $-6.7M | ||
| Q2 24 | $71.4M | $21.0M | ||
| Q1 24 | $-32.1M | $-1.9M |
| Q4 25 | 19.5% | 7.6% | ||
| Q3 25 | 4.7% | 17.4% | ||
| Q2 25 | -17.2% | 14.3% | ||
| Q1 25 | 0.2% | -1.8% | ||
| Q4 24 | 39.3% | -30.8% | ||
| Q3 24 | 11.9% | -15.2% | ||
| Q2 24 | 14.2% | 31.4% | ||
| Q1 24 | -7.0% | -3.9% |
| Q4 25 | 7.8% | 16.3% | ||
| Q3 25 | 3.7% | 18.5% | ||
| Q2 25 | 3.4% | 17.1% | ||
| Q1 25 | 4.1% | 15.5% | ||
| Q4 24 | 4.3% | 23.6% | ||
| Q3 24 | 4.9% | 21.4% | ||
| Q2 24 | 2.2% | 9.9% | ||
| Q1 24 | 3.5% | 28.3% |
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | 4.37× | ||
| Q2 25 | -2.54× | 2.47× | ||
| Q1 25 | 0.29× | 0.88× | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 2.03× | 3.43× | ||
| Q1 24 | -0.12× | 1.64× |
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% |
NPKI
| Rental Revenue | $34.8M | 46% |
| Products | $25.5M | 34% |
| Services | $14.9M | 20% |
