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Side-by-side financial comparison of Axon Enterprise (AXON) and SM Energy Co (SM). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $704.9M, roughly 1.1× SM Energy Co). On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs -17.3%). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 12.2%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
SM Energy Company is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado.
AXON vs SM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $704.9M |
| Net Profit | $2.7M | — |
| Gross Margin | 57.9% | — |
| Operating Margin | -6.3% | 25.9% |
| Net Margin | 0.3% | — |
| Revenue YoY | 38.9% | -17.3% |
| Net Profit YoY | -98.0% | — |
| EPS (diluted) | $0.02 | $0.94 |
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 | $704.9M | ||
| Q3 25 | $710.6M | $811.6M | ||
| Q2 25 | $668.5M | $792.9M | ||
| Q1 25 | $603.6M | $844.5M | ||
| Q4 24 | $573.4M | $852.0M | ||
| Q3 24 | $544.3M | $643.6M | ||
| Q2 24 | $504.1M | $634.6M | ||
| Q1 24 | $460.7M | $559.9M |
| Q4 25 | $2.7M | — | ||
| Q3 25 | $-2.2M | $155.1M | ||
| Q2 25 | $36.1M | $201.7M | ||
| Q1 25 | $88.0M | $182.3M | ||
| Q4 24 | $136.0M | — | ||
| Q3 24 | $67.0M | $240.5M | ||
| Q2 24 | $40.8M | $210.3M | ||
| Q1 24 | $133.2M | $131.2M |
| 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% | 25.9% | ||
| Q3 25 | -0.3% | 30.4% | ||
| Q2 25 | -0.2% | 37.2% | ||
| Q1 25 | -1.5% | 32.7% | ||
| Q4 24 | -2.6% | 33.7% | ||
| Q3 24 | 4.4% | 51.4% | ||
| Q2 24 | 6.5% | 44.0% | ||
| Q1 24 | 3.5% | 31.9% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | -0.3% | 19.1% | ||
| Q2 25 | 5.4% | 25.4% | ||
| Q1 25 | 14.6% | 21.6% | ||
| Q4 24 | 23.7% | — | ||
| Q3 24 | 12.3% | 37.4% | ||
| Q2 24 | 8.1% | 33.1% | ||
| Q1 24 | 28.9% | 23.4% |
| Q4 25 | $0.02 | $0.94 | ||
| Q3 25 | $-0.03 | $1.35 | ||
| Q2 25 | $0.44 | $1.76 | ||
| Q1 25 | $1.08 | $1.59 | ||
| Q4 24 | $1.68 | $1.63 | ||
| Q3 24 | $0.86 | $2.09 | ||
| Q2 24 | $0.53 | $1.82 | ||
| Q1 24 | $1.73 | $1.13 |
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 | $368.0M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $4.8B |
| Total Assets | $7.0B | $9.3B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $368.0M | ||
| Q3 25 | $2.4B | $162.3M | ||
| Q2 25 | $2.1B | $101.9M | ||
| Q1 25 | $2.2B | $54.0K | ||
| Q4 24 | $788.1M | — | ||
| Q3 24 | $1.0B | $1.7B | ||
| Q2 24 | $968.9M | $487.9M | ||
| Q1 24 | $964.1M | $506.3M |
| 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 | $4.8B | ||
| Q3 25 | $3.0B | $4.7B | ||
| Q2 25 | $2.7B | $4.6B | ||
| Q1 25 | $2.6B | $4.4B | ||
| Q4 24 | $2.3B | $4.2B | ||
| Q3 24 | $2.1B | $4.1B | ||
| Q2 24 | $1.9B | $3.8B | ||
| Q1 24 | $1.8B | $3.7B |
| Q4 25 | $7.0B | $9.3B | ||
| Q3 25 | $6.7B | $9.1B | ||
| Q2 25 | $6.2B | $9.0B | ||
| Q1 25 | $6.1B | $8.8B | ||
| Q4 24 | $4.5B | $8.6B | ||
| Q3 24 | $4.0B | $8.0B | ||
| Q2 24 | $3.7B | $6.7B | ||
| Q1 24 | $3.6B | $6.4B |
| 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 | $451.9M |
| Free Cash FlowOCF − Capex | $155.4M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 7.8% | — |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $451.9M | ||
| Q3 25 | $60.0M | $505.0M | ||
| Q2 25 | $-91.7M | $571.1M | ||
| Q1 25 | $25.8M | $483.0M | ||
| Q4 24 | $250.2M | $578.4M | ||
| Q3 24 | $91.3M | $452.3M | ||
| Q2 24 | $82.8M | $476.4M | ||
| Q1 24 | $-15.9M | $276.0M |
| 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× | — | ||
| Q3 25 | — | 3.26× | ||
| Q2 25 | -2.54× | 2.83× | ||
| Q1 25 | 0.29× | 2.65× | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | 1.88× | ||
| Q2 24 | 2.03× | 2.27× | ||
| Q1 24 | -0.12× | 2.10× |
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% |
SM
Segment breakdown not available.
