vs
Side-by-side financial comparison of Axon Enterprise (AXON) and WillScot Holdings Corp (WSC). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $566.0M, roughly 1.4× WillScot Holdings Corp). Axon Enterprise runs the higher net margin — 0.3% vs -33.1%, a 33.4% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs -6.1%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $149.7M). 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.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
AXON vs WSC — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $566.0M |
| Net Profit | $2.7M | $-187.3M |
| Gross Margin | 57.9% | 50.4% |
| Operating Margin | -6.3% | -32.5% |
| Net Margin | 0.3% | -33.1% |
| Revenue YoY | 38.9% | -6.1% |
| Net Profit YoY | -98.0% | -310.0% |
| EPS (diluted) | $0.02 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $710.6M | $566.8M | ||
| Q2 25 | $668.5M | $589.1M | ||
| Q1 25 | $603.6M | $559.6M | ||
| Q4 24 | $573.4M | $602.5M | ||
| Q3 24 | $544.3M | $601.4M | ||
| Q2 24 | $504.1M | $604.6M | ||
| Q1 24 | $460.7M | $587.2M |
| Q4 25 | $2.7M | $-187.3M | ||
| Q3 25 | $-2.2M | $43.3M | ||
| Q2 25 | $36.1M | $47.9M | ||
| Q1 25 | $88.0M | $43.1M | ||
| Q4 24 | $136.0M | $89.2M | ||
| Q3 24 | $67.0M | $-70.5M | ||
| Q2 24 | $40.8M | $-46.9M | ||
| Q1 24 | $133.2M | $56.2M |
| Q4 25 | 57.9% | 50.4% | ||
| Q3 25 | 60.1% | 49.7% | ||
| Q2 25 | 60.4% | 50.3% | ||
| Q1 25 | 60.6% | 53.7% | ||
| Q4 24 | 60.5% | 55.8% | ||
| Q3 24 | 60.8% | 53.5% | ||
| Q2 24 | 60.3% | 54.1% | ||
| Q1 24 | 56.4% | 54.0% |
| Q4 25 | -6.3% | -32.5% | ||
| Q3 25 | -0.3% | 21.0% | ||
| Q2 25 | -0.2% | 21.5% | ||
| Q1 25 | -1.5% | 21.3% | ||
| Q4 24 | -2.6% | 28.9% | ||
| Q3 24 | 4.4% | -5.9% | ||
| Q2 24 | 6.5% | -0.9% | ||
| Q1 24 | 3.5% | 22.1% |
| Q4 25 | 0.3% | -33.1% | ||
| Q3 25 | -0.3% | 7.6% | ||
| Q2 25 | 5.4% | 8.1% | ||
| Q1 25 | 14.6% | 7.7% | ||
| Q4 24 | 23.7% | 14.8% | ||
| Q3 24 | 12.3% | -11.7% | ||
| Q2 24 | 8.1% | -7.7% | ||
| Q1 24 | 28.9% | 9.6% |
| Q4 25 | $0.02 | $-1.02 | ||
| Q3 25 | $-0.03 | $0.24 | ||
| Q2 25 | $0.44 | $0.26 | ||
| Q1 25 | $1.08 | $0.23 | ||
| Q4 24 | $1.68 | $0.48 | ||
| Q3 24 | $0.86 | $-0.37 | ||
| Q2 24 | $0.53 | $-0.25 | ||
| Q1 24 | $1.73 | $0.29 |
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 | $14.6M |
| Total DebtLower is stronger | $1.8B | $3.6B |
| Stockholders' EquityBook value | $3.2B | $856.3M |
| Total Assets | $7.0B | $5.8B |
| Debt / EquityLower = less leverage | 0.56× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $14.6M | ||
| Q3 25 | $2.4B | $14.8M | ||
| Q2 25 | $2.1B | $12.8M | ||
| Q1 25 | $2.2B | $10.7M | ||
| Q4 24 | $788.1M | $9.0M | ||
| Q3 24 | $1.0B | $11.0M | ||
| Q2 24 | $968.9M | $5.9M | ||
| Q1 24 | $964.1M | $13.1M |
| Q4 25 | $1.8B | $3.6B | ||
| Q3 25 | $2.0B | $3.6B | ||
| Q2 25 | $2.0B | $3.7B | ||
| Q1 25 | $2.0B | $3.6B | ||
| Q4 24 | $680.3M | $3.7B | ||
| Q3 24 | — | $3.6B | ||
| Q2 24 | — | $3.5B | ||
| Q1 24 | — | $3.5B |
| Q4 25 | $3.2B | $856.3M | ||
| Q3 25 | $3.0B | $1.1B | ||
| Q2 25 | $2.7B | $1.0B | ||
| Q1 25 | $2.6B | $1.0B | ||
| Q4 24 | $2.3B | $1.0B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $1.9B | $1.2B | ||
| Q1 24 | $1.8B | $1.3B |
| Q4 25 | $7.0B | $5.8B | ||
| Q3 25 | $6.7B | $6.1B | ||
| Q2 25 | $6.2B | $6.1B | ||
| Q1 25 | $6.1B | $6.0B | ||
| Q4 24 | $4.5B | $6.0B | ||
| Q3 24 | $4.0B | $6.0B | ||
| Q2 24 | $3.7B | $6.0B | ||
| Q1 24 | $3.6B | $6.2B |
| Q4 25 | 0.56× | 4.15× | ||
| Q3 25 | 0.66× | 3.39× | ||
| Q2 25 | 0.73× | 3.55× | ||
| Q1 25 | 0.79× | 3.56× | ||
| Q4 24 | 0.29× | 3.62× | ||
| Q3 24 | — | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| Free Cash FlowOCF − Capex | $155.4M | $149.7M |
| FCF MarginFCF / Revenue | 19.5% | 26.5% |
| Capex IntensityCapex / Revenue | 7.8% | 1.6% |
| Cash ConversionOCF / Net Profit | 79.14× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $158.9M | ||
| Q3 25 | $60.0M | $191.2M | ||
| Q2 25 | $-91.7M | $205.3M | ||
| Q1 25 | $25.8M | $206.6M | ||
| Q4 24 | $250.2M | $178.9M | ||
| Q3 24 | $91.3M | $-1.6M | ||
| Q2 24 | $82.8M | $175.6M | ||
| Q1 24 | $-15.9M | $208.7M |
| Q4 25 | $155.4M | $149.7M | ||
| Q3 25 | $33.4M | $186.9M | ||
| Q2 25 | $-114.7M | $199.0M | ||
| Q1 25 | $932.0K | $202.0M | ||
| Q4 24 | $225.4M | $176.6M | ||
| Q3 24 | $64.8M | $-4.9M | ||
| Q2 24 | $71.4M | $169.4M | ||
| Q1 24 | $-32.1M | $202.1M |
| Q4 25 | 19.5% | 26.5% | ||
| Q3 25 | 4.7% | 33.0% | ||
| Q2 25 | -17.2% | 33.8% | ||
| Q1 25 | 0.2% | 36.1% | ||
| Q4 24 | 39.3% | 29.3% | ||
| Q3 24 | 11.9% | -0.8% | ||
| Q2 24 | 14.2% | 28.0% | ||
| Q1 24 | -7.0% | 34.4% |
| Q4 25 | 7.8% | 1.6% | ||
| Q3 25 | 3.7% | 0.7% | ||
| Q2 25 | 3.4% | 1.1% | ||
| Q1 25 | 4.1% | 0.8% | ||
| Q4 24 | 4.3% | 0.4% | ||
| Q3 24 | 4.9% | 0.6% | ||
| Q2 24 | 2.2% | 1.0% | ||
| Q1 24 | 3.5% | 1.1% |
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | -2.54× | 4.28× | ||
| Q1 25 | 0.29× | 4.80× | ||
| Q4 24 | 1.84× | 2.01× | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
