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Side-by-side financial comparison of Axon Enterprise (AXON) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $692.4M, roughly 1.2× OCEANEERING INTERNATIONAL INC). OCEANEERING INTERNATIONAL INC runs the higher net margin — 5.2% vs 0.3%, a 4.9% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 3.6%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $-76.5M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 1.8%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.
AXON vs OII — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $692.4M |
| Net Profit | $2.7M | $36.1M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | — |
| Net Margin | 0.3% | 5.2% |
| Revenue YoY | 38.9% | 3.6% |
| Net Profit YoY | -98.0% | -28.3% |
| EPS (diluted) | $0.02 | $0.36 |
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 | — | $692.4M | ||
| Q4 25 | $796.7M | $668.6M | ||
| Q3 25 | $710.6M | $742.9M | ||
| Q2 25 | $668.5M | $698.2M | ||
| Q1 25 | $603.6M | $674.5M | ||
| Q4 24 | $573.4M | $713.5M | ||
| Q3 24 | $544.3M | $679.8M | ||
| Q2 24 | $504.1M | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $2.7M | $177.7M | ||
| Q3 25 | $-2.2M | $71.3M | ||
| Q2 25 | $36.1M | $54.4M | ||
| Q1 25 | $88.0M | $50.4M | ||
| Q4 24 | $136.0M | $56.1M | ||
| Q3 24 | $67.0M | $41.2M | ||
| Q2 24 | $40.8M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 57.9% | 19.8% | ||
| Q3 25 | 60.1% | 20.6% | ||
| Q2 25 | 60.4% | 21.3% | ||
| Q1 25 | 60.6% | 20.0% | ||
| Q4 24 | 60.5% | 19.9% | ||
| Q3 24 | 60.8% | 19.3% | ||
| Q2 24 | 60.3% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | -6.3% | 9.8% | ||
| Q3 25 | -0.3% | 11.6% | ||
| Q2 25 | -0.2% | 11.3% | ||
| Q1 25 | -1.5% | 10.9% | ||
| Q4 24 | -2.6% | 10.9% | ||
| Q3 24 | 4.4% | 10.5% | ||
| Q2 24 | 6.5% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | 0.3% | 26.6% | ||
| Q3 25 | -0.3% | 9.6% | ||
| Q2 25 | 5.4% | 7.8% | ||
| Q1 25 | 14.6% | 7.5% | ||
| Q4 24 | 23.7% | 7.9% | ||
| Q3 24 | 12.3% | 6.1% | ||
| Q2 24 | 8.1% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $0.02 | $1.75 | ||
| Q3 25 | $-0.03 | $0.71 | ||
| Q2 25 | $0.44 | $0.54 | ||
| Q1 25 | $1.08 | $0.49 | ||
| Q4 24 | $1.68 | $0.55 | ||
| Q3 24 | $0.86 | $0.40 | ||
| Q2 24 | $0.53 | $0.34 |
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 | $488.8M |
| Stockholders' EquityBook value | $3.2B | $1.1B |
| Total Assets | $7.0B | $2.6B |
| Debt / EquityLower = less leverage | 0.56× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $695.9M | ||
| Q3 25 | $2.4B | $7.0M | ||
| Q2 25 | $2.1B | $7.0M | ||
| Q1 25 | $2.2B | $7.0M | ||
| Q4 24 | $788.1M | $504.5M | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $968.9M | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $1.8B | $487.4M | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $680.3M | $482.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $3.2B | $1.1B | ||
| Q3 25 | $3.0B | $907.7M | ||
| Q2 25 | $2.7B | $842.1M | ||
| Q1 25 | $2.6B | $773.1M | ||
| Q4 24 | $2.3B | $714.3M | ||
| Q3 24 | $2.1B | $698.0M | ||
| Q2 24 | $1.9B | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $7.0B | $2.7B | ||
| Q3 25 | $6.7B | $2.5B | ||
| Q2 25 | $6.2B | $2.3B | ||
| Q1 25 | $6.1B | $2.3B | ||
| Q4 24 | $4.5B | $2.3B | ||
| Q3 24 | $4.0B | $2.4B | ||
| Q2 24 | $3.7B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.56× | 0.46× | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | — | ||
| Q4 24 | 0.29× | 0.67× | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $155.4M | $-76.5M |
| FCF MarginFCF / Revenue | 19.5% | -11.1% |
| Capex IntensityCapex / Revenue | 7.8% | 2.5% |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $217.2M | $221.1M | ||
| Q3 25 | $60.0M | $101.3M | ||
| Q2 25 | $-91.7M | $77.2M | ||
| Q1 25 | $25.8M | $-80.7M | ||
| Q4 24 | $250.2M | $128.4M | ||
| Q3 24 | $91.3M | $91.9M | ||
| Q2 24 | $82.8M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $155.4M | $190.7M | ||
| Q3 25 | $33.4M | $77.0M | ||
| Q2 25 | $-114.7M | $46.9M | ||
| Q1 25 | $932.0K | $-106.8M | ||
| Q4 24 | $225.4M | $94.5M | ||
| Q3 24 | $64.8M | $67.0M | ||
| Q2 24 | $71.4M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | 19.5% | 28.5% | ||
| Q3 25 | 4.7% | 10.4% | ||
| Q2 25 | -17.2% | 6.7% | ||
| Q1 25 | 0.2% | -15.8% | ||
| Q4 24 | 39.3% | 13.2% | ||
| Q3 24 | 11.9% | 9.9% | ||
| Q2 24 | 14.2% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 7.8% | 4.6% | ||
| Q3 25 | 3.7% | 3.3% | ||
| Q2 25 | 3.4% | 4.3% | ||
| Q1 25 | 4.1% | 3.9% | ||
| Q4 24 | 4.3% | 4.7% | ||
| Q3 24 | 4.9% | 3.7% | ||
| Q2 24 | 2.2% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 79.14× | 1.24× | ||
| Q3 25 | — | 1.42× | ||
| Q2 25 | -2.54× | 1.42× | ||
| Q1 25 | 0.29× | -1.60× | ||
| Q4 24 | 1.84× | 2.29× | ||
| Q3 24 | 1.36× | 2.23× | ||
| Q2 24 | 2.03× | 1.50× |
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% |
OII
Segment breakdown not available.
