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Side-by-side financial comparison of Axon Enterprise (AXON) and SELECT MEDICAL HOLDINGS CORP (SEM). Click either name above to swap in a different company.
SELECT MEDICAL HOLDINGS CORP is the larger business by last-quarter revenue ($1.4B vs $796.7M, roughly 1.8× Axon Enterprise). SELECT MEDICAL HOLDINGS CORP runs the higher net margin — 1.4% vs 0.3%, a 1.1% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 6.4%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $5.2M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 2.8%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
Select Medical is a healthcare company based in Pennsylvania. It owns long-term acute care and inpatient rehabilitation hospitals, as well as occupational health and physical therapy clinics. Select Medical is a subsidiary of Select Medical Holdings, which is listed on the New York Stock Exchange.
AXON vs SEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $1.4B |
| Net Profit | $2.7M | $20.2M |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 4.6% |
| Net Margin | 0.3% | 1.4% |
| Revenue YoY | 38.9% | 6.4% |
| Net Profit YoY | -98.0% | 225.7% |
| 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 | $1.4B | ||
| Q3 25 | $710.6M | $1.4B | ||
| Q2 25 | $668.5M | $1.3B | ||
| Q1 25 | $603.6M | $1.4B | ||
| Q4 24 | $573.4M | $1.3B | ||
| Q3 24 | $544.3M | $1.3B | ||
| Q2 24 | $504.1M | $1.3B | ||
| Q1 24 | $460.7M | $1.3B |
| Q4 25 | $2.7M | $20.2M | ||
| Q3 25 | $-2.2M | $28.8M | ||
| Q2 25 | $36.1M | $40.6M | ||
| Q1 25 | $88.0M | $56.7M | ||
| Q4 24 | $136.0M | $-16.1M | ||
| Q3 24 | $67.0M | $55.6M | ||
| Q2 24 | $40.8M | $77.6M | ||
| Q1 24 | $133.2M | $96.9M |
| 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% | 4.6% | ||
| Q3 25 | -0.3% | 5.4% | ||
| Q2 25 | -0.2% | 6.5% | ||
| Q1 25 | -1.5% | 8.3% | ||
| Q4 24 | -2.6% | 1.6% | ||
| Q3 24 | 4.4% | 4.3% | ||
| Q2 24 | 6.5% | 5.8% | ||
| Q1 24 | 3.5% | 9.0% |
| Q4 25 | 0.3% | 1.4% | ||
| Q3 25 | -0.3% | 2.1% | ||
| Q2 25 | 5.4% | 3.0% | ||
| Q1 25 | 14.6% | 4.2% | ||
| Q4 24 | 23.7% | -1.2% | ||
| Q3 24 | 12.3% | 4.4% | ||
| Q2 24 | 8.1% | 6.1% | ||
| Q1 24 | 28.9% | 7.3% |
| Q4 25 | $0.02 | $0.17 | ||
| Q3 25 | $-0.03 | $0.23 | ||
| Q2 25 | $0.44 | $0.32 | ||
| Q1 25 | $1.08 | $0.44 | ||
| Q4 24 | $1.68 | $-0.12 | ||
| Q3 24 | $0.86 | $0.43 | ||
| Q2 24 | $0.53 | $0.60 | ||
| Q1 24 | $1.73 | $0.75 |
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 | $26.5M |
| Total DebtLower is stronger | $1.8B | $1.8B |
| Stockholders' EquityBook value | $3.2B | $1.7B |
| Total Assets | $7.0B | $5.9B |
| Debt / EquityLower = less leverage | 0.56× | 1.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $26.5M | ||
| Q3 25 | $2.4B | $60.1M | ||
| Q2 25 | $2.1B | $52.3M | ||
| Q1 25 | $2.2B | $53.2M | ||
| Q4 24 | $788.1M | $59.7M | ||
| Q3 24 | $1.0B | $191.5M | ||
| Q2 24 | $968.9M | $111.2M | ||
| Q1 24 | $964.1M | $92.6M |
| Q4 25 | $1.8B | $1.8B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.0B | $1.8B | ||
| Q1 25 | $2.0B | $1.8B | ||
| Q4 24 | $680.3M | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | — | $3.6B | ||
| Q1 24 | — | $3.8B |
| Q4 25 | $3.2B | $1.7B | ||
| Q3 25 | $3.0B | $1.7B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.6B | $1.7B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.1B | $1.9B | ||
| Q2 24 | $1.9B | $1.4B | ||
| Q1 24 | $1.8B | $1.4B |
| Q4 25 | $7.0B | $5.9B | ||
| Q3 25 | $6.7B | $5.7B | ||
| Q2 25 | $6.2B | $5.7B | ||
| Q1 25 | $6.1B | $5.7B | ||
| Q4 24 | $4.5B | $5.6B | ||
| Q3 24 | $4.0B | $8.0B | ||
| Q2 24 | $3.7B | $7.9B | ||
| Q1 24 | $3.6B | $7.9B |
| Q4 25 | 0.56× | 1.06× | ||
| Q3 25 | 0.66× | 1.03× | ||
| Q2 25 | 0.73× | 1.10× | ||
| Q1 25 | 0.79× | 1.03× | ||
| Q4 24 | 0.29× | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 2.54× | ||
| Q1 24 | — | 2.75× |
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 | $64.3M |
| Free Cash FlowOCF − Capex | $155.4M | $5.2M |
| FCF MarginFCF / Revenue | 19.5% | 0.4% |
| Capex IntensityCapex / Revenue | 7.8% | 4.2% |
| Cash ConversionOCF / Net Profit | 79.14× | 3.19× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $117.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $64.3M | ||
| Q3 25 | $60.0M | $175.3M | ||
| Q2 25 | $-91.7M | $110.3M | ||
| Q1 25 | $25.8M | $-3.5M | ||
| Q4 24 | $250.2M | $125.4M | ||
| Q3 24 | $91.3M | $181.0M | ||
| Q2 24 | $82.8M | $278.2M | ||
| Q1 24 | $-15.9M | $-66.7M |
| Q4 25 | $155.4M | $5.2M | ||
| Q3 25 | $33.4M | $122.2M | ||
| Q2 25 | $-114.7M | $45.6M | ||
| Q1 25 | $932.0K | $-55.8M | ||
| Q4 24 | $225.4M | $62.0M | ||
| Q3 24 | $64.8M | $130.3M | ||
| Q2 24 | $71.4M | $222.6M | ||
| Q1 24 | $-32.1M | $-119.2M |
| Q4 25 | 19.5% | 0.4% | ||
| Q3 25 | 4.7% | 9.0% | ||
| Q2 25 | -17.2% | 3.4% | ||
| Q1 25 | 0.2% | -4.1% | ||
| Q4 24 | 39.3% | 4.7% | ||
| Q3 24 | 11.9% | 10.2% | ||
| Q2 24 | 14.2% | 17.4% | ||
| Q1 24 | -7.0% | -9.0% |
| Q4 25 | 7.8% | 4.2% | ||
| Q3 25 | 3.7% | 3.9% | ||
| Q2 25 | 3.4% | 4.8% | ||
| Q1 25 | 4.1% | 3.9% | ||
| Q4 24 | 4.3% | 4.8% | ||
| Q3 24 | 4.9% | 4.0% | ||
| Q2 24 | 2.2% | 4.3% | ||
| Q1 24 | 3.5% | 4.0% |
| Q4 25 | 79.14× | 3.19× | ||
| Q3 25 | — | 6.09× | ||
| Q2 25 | -2.54× | 2.72× | ||
| Q1 25 | 0.29× | -0.06× | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | 3.25× | ||
| Q2 24 | 2.03× | 3.59× | ||
| Q1 24 | -0.12× | -0.69× |
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% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
