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Side-by-side financial comparison of Axon Enterprise (AXON) and Public Storage (PSA). Click either name above to swap in a different company.
Public Storage is the larger business by last-quarter revenue ($1.2B vs $796.7M, roughly 1.5× Axon Enterprise). Public Storage runs the higher net margin — 41.7% vs 0.3%, a 41.4% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 3.3%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 2.5%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Public Storage, headquartered in Glendale, California, is a real estate investment trust that invests in self storage. It is the largest brand of self-storage services in the US and owns approximately 9% of the self storage square footage in the U.S. As of December 31, 2024, the company operated 3,073 self-storage facilities containing an aggregate of 221 million net rentable square feet of space.
AXON vs PSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $1.2B |
| Net Profit | $2.7M | $507.1M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 40.7% |
| Net Margin | 0.3% | 41.7% |
| Revenue YoY | 38.9% | 3.3% |
| Net Profit YoY | -98.0% | -17.5% |
| EPS (diluted) | $0.02 | $2.59 |
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 | $1.2B | ||
| Q3 25 | $710.6M | $1.2B | ||
| Q2 25 | $668.5M | $1.2B | ||
| Q1 25 | $603.6M | $1.2B | ||
| Q4 24 | $573.4M | $1.2B | ||
| Q3 24 | $544.3M | $1.2B | ||
| Q2 24 | $504.1M | $1.2B | ||
| Q1 24 | $460.7M | $1.2B |
| Q4 25 | $2.7M | $507.1M | ||
| Q3 25 | $-2.2M | $511.1M | ||
| Q2 25 | $36.1M | $358.4M | ||
| Q1 25 | $88.0M | $407.8M | ||
| Q4 24 | $136.0M | $614.6M | ||
| Q3 24 | $67.0M | $430.3M | ||
| Q2 24 | $40.8M | $518.1M | ||
| Q1 24 | $133.2M | $508.9M |
| 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% | 40.7% | ||
| Q3 25 | -0.3% | 42.3% | ||
| Q2 25 | -0.2% | 30.4% | ||
| Q1 25 | -1.5% | 34.8% | ||
| Q4 24 | -2.6% | 52.4% | ||
| Q3 24 | 4.4% | 36.7% | ||
| Q2 24 | 6.5% | 44.6% | ||
| Q1 24 | 3.5% | 44.3% |
| Q4 25 | 0.3% | 41.7% | ||
| Q3 25 | -0.3% | 41.8% | ||
| Q2 25 | 5.4% | 29.8% | ||
| Q1 25 | 14.6% | 34.5% | ||
| Q4 24 | 23.7% | 52.2% | ||
| Q3 24 | 12.3% | 36.2% | ||
| Q2 24 | 8.1% | 44.2% | ||
| Q1 24 | 28.9% | 44.0% |
| Q4 25 | $0.02 | $2.59 | ||
| Q3 25 | $-0.03 | $2.62 | ||
| Q2 25 | $0.44 | $1.76 | ||
| Q1 25 | $1.08 | $2.04 | ||
| Q4 24 | $1.68 | $3.22 | ||
| Q3 24 | $0.86 | $2.16 | ||
| Q2 24 | $0.53 | $2.66 | ||
| Q1 24 | $1.73 | $2.60 |
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 | $318.1M |
| Total DebtLower is stronger | $1.8B | $10.3B |
| Stockholders' EquityBook value | $3.2B | $9.2B |
| Total Assets | $7.0B | $20.2B |
| Debt / EquityLower = less leverage | 0.56× | 1.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $318.1M | ||
| Q3 25 | $2.4B | $296.5M | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.2B | $287.2M | ||
| Q4 24 | $788.1M | $447.4M | ||
| Q3 24 | $1.0B | $599.0M | ||
| Q2 24 | $968.9M | $542.3M | ||
| Q1 24 | $964.1M | $271.6M |
| Q4 25 | $1.8B | $10.3B | ||
| Q3 25 | $2.0B | $10.0B | ||
| Q2 25 | $2.0B | $10.4B | ||
| Q1 25 | $2.0B | $9.4B | ||
| Q4 24 | $680.3M | $9.4B | ||
| Q3 24 | — | $9.5B | ||
| Q2 24 | — | $9.4B | ||
| Q1 24 | — | $9.1B |
| Q4 25 | $3.2B | $9.2B | ||
| Q3 25 | $3.0B | $9.3B | ||
| Q2 25 | $2.7B | $9.4B | ||
| Q1 25 | $2.6B | $9.6B | ||
| Q4 24 | $2.3B | $9.7B | ||
| Q3 24 | $2.1B | $9.6B | ||
| Q2 24 | $1.9B | $9.7B | ||
| Q1 24 | $1.8B | $9.9B |
| Q4 25 | $7.0B | $20.2B | ||
| Q3 25 | $6.7B | $20.1B | ||
| Q2 25 | $6.2B | $20.5B | ||
| Q1 25 | $6.1B | $19.6B | ||
| Q4 24 | $4.5B | $19.8B | ||
| Q3 24 | $4.0B | $19.8B | ||
| Q2 24 | $3.7B | $19.8B | ||
| Q1 24 | $3.6B | $19.6B |
| Q4 25 | 0.56× | 1.11× | ||
| Q3 25 | 0.66× | 1.08× | ||
| Q2 25 | 0.73× | 1.11× | ||
| Q1 25 | 0.79× | 0.99× | ||
| Q4 24 | 0.29× | 0.96× | ||
| Q3 24 | — | 0.99× | ||
| Q2 24 | — | 0.97× | ||
| Q1 24 | — | 0.91× |
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 | $733.6M |
| Free Cash FlowOCF − Capex | $155.4M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 79.14× | 1.45× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $733.6M | ||
| Q3 25 | $60.0M | $875.1M | ||
| Q2 25 | $-91.7M | $872.7M | ||
| Q1 25 | $25.8M | $705.1M | ||
| Q4 24 | $250.2M | $768.6M | ||
| Q3 24 | $91.3M | $798.8M | ||
| Q2 24 | $82.8M | $895.3M | ||
| Q1 24 | $-15.9M | $665.6M |
| Q4 25 | $155.4M | — | ||
| Q3 25 | $33.4M | — | ||
| Q2 25 | $-114.7M | — | ||
| Q1 25 | $932.0K | — | ||
| Q4 24 | $225.4M | — | ||
| Q3 24 | $64.8M | — | ||
| Q2 24 | $71.4M | — | ||
| Q1 24 | $-32.1M | — |
| Q4 25 | 19.5% | — | ||
| Q3 25 | 4.7% | — | ||
| Q2 25 | -17.2% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 39.3% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 14.2% | — | ||
| Q1 24 | -7.0% | — |
| Q4 25 | 7.8% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 3.4% | — | ||
| Q1 25 | 4.1% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 3.5% | — |
| Q4 25 | 79.14× | 1.45× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | -2.54× | 2.43× | ||
| Q1 25 | 0.29× | 1.73× | ||
| Q4 24 | 1.84× | 1.25× | ||
| Q3 24 | 1.36× | 1.86× | ||
| Q2 24 | 2.03× | 1.73× | ||
| Q1 24 | -0.12× | 1.31× |
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% |
PSA
| Self Storage Operations | $1.1B | 93% |
| Ancillary Operations | $86.9M | 7% |
