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Side-by-side financial comparison of Axon Enterprise (AXON) and PJT Partners Inc. (PJT). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $531.4M, roughly 1.5× PJT Partners Inc.). PJT Partners Inc. runs the higher net margin — 10.0% vs 0.3%, a 9.7% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 12.9%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $138.6M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 27.5%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
AXON vs PJT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $531.4M |
| Net Profit | $2.7M | $53.4M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 23.1% |
| Net Margin | 0.3% | 10.0% |
| Revenue YoY | 38.9% | 12.9% |
| Net Profit YoY | -98.0% | 4.0% |
| 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.
| Q4 25 | $796.7M | $531.4M | ||
| Q3 25 | $710.6M | $442.3M | ||
| Q2 25 | $668.5M | $401.1M | ||
| Q1 25 | $603.6M | $321.9M | ||
| Q4 24 | $573.4M | $470.5M | ||
| Q3 24 | $544.3M | $320.3M | ||
| Q2 24 | $504.1M | $358.1M | ||
| Q1 24 | $460.7M | $327.1M |
| Q4 25 | $2.7M | $53.4M | ||
| Q3 25 | $-2.2M | $39.8M | ||
| Q2 25 | $36.1M | $32.9M | ||
| Q1 25 | $88.0M | $54.0M | ||
| Q4 24 | $136.0M | $51.3M | ||
| Q3 24 | $67.0M | $22.1M | ||
| Q2 24 | $40.8M | $28.3M | ||
| Q1 24 | $133.2M | $32.6M |
| 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% | 23.1% | ||
| Q3 25 | -0.3% | 20.6% | ||
| Q2 25 | -0.2% | 19.1% | ||
| Q1 25 | -1.5% | 16.3% | ||
| Q4 24 | -2.6% | 21.9% | ||
| Q3 24 | 4.4% | 15.4% | ||
| Q2 24 | 6.5% | 18.0% | ||
| Q1 24 | 3.5% | 16.5% |
| Q4 25 | 0.3% | 10.0% | ||
| Q3 25 | -0.3% | 9.0% | ||
| Q2 25 | 5.4% | 8.2% | ||
| Q1 25 | 14.6% | 16.8% | ||
| Q4 24 | 23.7% | 10.9% | ||
| Q3 24 | 12.3% | 6.9% | ||
| Q2 24 | 8.1% | 7.9% | ||
| Q1 24 | 28.9% | 10.0% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $0.44 | — | ||
| Q1 25 | $1.08 | — | ||
| Q4 24 | $1.68 | — | ||
| Q3 24 | $0.86 | — | ||
| Q2 24 | $0.53 | — | ||
| Q1 24 | $1.73 | — |
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 | $538.9M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $308.2M |
| Total Assets | $7.0B | $1.8B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $538.9M | ||
| Q3 25 | $2.4B | $400.5M | ||
| Q2 25 | $2.1B | $214.6M | ||
| Q1 25 | $2.2B | $194.3M | ||
| Q4 24 | $788.1M | $483.9M | ||
| Q3 24 | $1.0B | $148.8M | ||
| Q2 24 | $968.9M | $164.2M | ||
| Q1 24 | $964.1M | $215.5M |
| 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 | $308.2M | ||
| Q3 25 | $3.0B | $228.6M | ||
| Q2 25 | $2.7B | $167.4M | ||
| Q1 25 | $2.6B | $148.8M | ||
| Q4 24 | $2.3B | $187.0M | ||
| Q3 24 | $2.1B | $159.1M | ||
| Q2 24 | $1.9B | $133.8M | ||
| Q1 24 | $1.8B | $174.6M |
| Q4 25 | $7.0B | $1.8B | ||
| Q3 25 | $6.7B | $1.7B | ||
| Q2 25 | $6.2B | $1.5B | ||
| Q1 25 | $6.1B | $1.4B | ||
| Q4 24 | $4.5B | $1.6B | ||
| Q3 24 | $4.0B | $1.6B | ||
| Q2 24 | $3.7B | $1.4B | ||
| Q1 24 | $3.6B | $1.3B |
| 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 | $155.7M |
| Free Cash FlowOCF − Capex | $155.4M | $138.6M |
| FCF MarginFCF / Revenue | 19.5% | 26.1% |
| Capex IntensityCapex / Revenue | 7.8% | 3.2% |
| Cash ConversionOCF / Net Profit | 79.14× | 2.92× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $480.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $155.7M | ||
| Q3 25 | $60.0M | $256.1M | ||
| Q2 25 | $-91.7M | $190.4M | ||
| Q1 25 | $25.8M | $-75.9M | ||
| Q4 24 | $250.2M | $195.7M | ||
| Q3 24 | $91.3M | $180.5M | ||
| Q2 24 | $82.8M | $193.6M | ||
| Q1 24 | $-15.9M | $-38.8M |
| Q4 25 | $155.4M | $138.6M | ||
| Q3 25 | $33.4M | $240.9M | ||
| Q2 25 | $-114.7M | $178.9M | ||
| Q1 25 | $932.0K | $-77.9M | ||
| Q4 24 | $225.4M | $195.3M | ||
| Q3 24 | $64.8M | $178.5M | ||
| Q2 24 | $71.4M | $193.0M | ||
| Q1 24 | $-32.1M | $-39.2M |
| Q4 25 | 19.5% | 26.1% | ||
| Q3 25 | 4.7% | 54.5% | ||
| Q2 25 | -17.2% | 44.6% | ||
| Q1 25 | 0.2% | -24.2% | ||
| Q4 24 | 39.3% | 41.5% | ||
| Q3 24 | 11.9% | 55.7% | ||
| Q2 24 | 14.2% | 53.9% | ||
| Q1 24 | -7.0% | -12.0% |
| Q4 25 | 7.8% | 3.2% | ||
| Q3 25 | 3.7% | 3.4% | ||
| Q2 25 | 3.4% | 2.9% | ||
| Q1 25 | 4.1% | 0.6% | ||
| Q4 24 | 4.3% | 0.1% | ||
| Q3 24 | 4.9% | 0.6% | ||
| Q2 24 | 2.2% | 0.1% | ||
| Q1 24 | 3.5% | 0.1% |
| Q4 25 | 79.14× | 2.92× | ||
| Q3 25 | — | 6.43× | ||
| Q2 25 | -2.54× | 5.79× | ||
| Q1 25 | 0.29× | -1.41× | ||
| Q4 24 | 1.84× | 3.81× | ||
| Q3 24 | 1.36× | 8.15× | ||
| Q2 24 | 2.03× | 6.84× | ||
| Q1 24 | -0.12× | -1.19× |
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% |
PJT
Segment breakdown not available.
