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Side-by-side financial comparison of Axon Enterprise (AXON) and WATTS WATER TECHNOLOGIES INC (WTS). Click either name above to swap in a different company.
Axon Enterprise is the larger business by last-quarter revenue ($796.7M vs $625.1M, roughly 1.3× WATTS WATER TECHNOLOGIES INC). WATTS WATER TECHNOLOGIES INC runs the higher net margin — 13.4% vs 0.3%, a 13.0% gap on every dollar of revenue. On growth, Axon Enterprise posted the faster year-over-year revenue change (38.9% vs 15.7%). Axon Enterprise produced more free cash flow last quarter ($155.4M vs $140.3M). Over the past eight quarters, Axon Enterprise's revenue compounded faster (31.5% CAGR vs 4.6%).
Axon Enterprise, Inc. is an American company based in Scottsdale, Arizona, that develops weapons and technology products for military, law enforcement, and civilians.
AERCO International, Inc. is a manufacturer and supplier of commercial condensing boilers, high efficiency water heating equipment and energy recovery systems in the HVAC/plumbing industry across a variety of markets including education, lodging, government, office buildings, healthcare, industrial and multifamily housing. In 1949, AERCO introduced the industry's first semi-instantaneous, tankless steam-to-water water heater. In 1988, AERCO introduced the first condensing and fully modulating...
AXON vs WTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $796.7M | $625.1M |
| Net Profit | $2.7M | $83.7M |
| Gross Margin | 57.9% | 49.5% |
| Operating Margin | -6.3% | 18.2% |
| Net Margin | 0.3% | 13.4% |
| Revenue YoY | 38.9% | 15.7% |
| Net Profit YoY | -98.0% | 24.0% |
| EPS (diluted) | $0.02 | $2.50 |
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 | $625.1M | ||
| Q3 25 | $710.6M | $611.7M | ||
| Q2 25 | $668.5M | $643.7M | ||
| Q1 25 | $603.6M | $558.0M | ||
| Q4 24 | $573.4M | $540.4M | ||
| Q3 24 | $544.3M | $543.6M | ||
| Q2 24 | $504.1M | $597.3M | ||
| Q1 24 | $460.7M | $570.9M |
| Q4 25 | $2.7M | $83.7M | ||
| Q3 25 | $-2.2M | $82.2M | ||
| Q2 25 | $36.1M | $100.9M | ||
| Q1 25 | $88.0M | $74.0M | ||
| Q4 24 | $136.0M | $67.5M | ||
| Q3 24 | $67.0M | $69.1M | ||
| Q2 24 | $40.8M | $82.0M | ||
| Q1 24 | $133.2M | $72.6M |
| Q4 25 | 57.9% | 49.5% | ||
| Q3 25 | 60.1% | 48.8% | ||
| Q2 25 | 60.4% | 50.6% | ||
| Q1 25 | 60.6% | 48.8% | ||
| Q4 24 | 60.5% | 46.7% | ||
| Q3 24 | 60.8% | 47.3% | ||
| Q2 24 | 60.3% | 47.7% | ||
| Q1 24 | 56.4% | 46.9% |
| Q4 25 | -6.3% | 18.2% | ||
| Q3 25 | -0.3% | 18.2% | ||
| Q2 25 | -0.2% | 21.0% | ||
| Q1 25 | -1.5% | 15.7% | ||
| Q4 24 | -2.6% | 16.5% | ||
| Q3 24 | 4.4% | 17.1% | ||
| Q2 24 | 6.5% | 18.7% | ||
| Q1 24 | 3.5% | 16.9% |
| Q4 25 | 0.3% | 13.4% | ||
| Q3 25 | -0.3% | 13.4% | ||
| Q2 25 | 5.4% | 15.7% | ||
| Q1 25 | 14.6% | 13.3% | ||
| Q4 24 | 23.7% | 12.5% | ||
| Q3 24 | 12.3% | 12.7% | ||
| Q2 24 | 8.1% | 13.7% | ||
| Q1 24 | 28.9% | 12.7% |
| Q4 25 | $0.02 | $2.50 | ||
| Q3 25 | $-0.03 | $2.45 | ||
| Q2 25 | $0.44 | $3.01 | ||
| Q1 25 | $1.08 | $2.21 | ||
| Q4 24 | $1.68 | $2.02 | ||
| Q3 24 | $0.86 | $2.06 | ||
| Q2 24 | $0.53 | $2.44 | ||
| Q1 24 | $1.73 | $2.17 |
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 | $405.5M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $3.2B | $2.0B |
| Total Assets | $7.0B | $2.9B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $405.5M | ||
| Q3 25 | $2.4B | $457.7M | ||
| Q2 25 | $2.1B | $369.3M | ||
| Q1 25 | $2.2B | $336.8M | ||
| Q4 24 | $788.1M | $386.9M | ||
| Q3 24 | $1.0B | $303.9M | ||
| Q2 24 | $968.9M | $279.4M | ||
| Q1 24 | $964.1M | $237.1M |
| 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 | $2.0B | ||
| Q3 25 | $3.0B | $2.0B | ||
| Q2 25 | $2.7B | $1.9B | ||
| Q1 25 | $2.6B | $1.8B | ||
| Q4 24 | $2.3B | $1.7B | ||
| Q3 24 | $2.1B | $1.7B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.8B | $1.6B |
| Q4 25 | $7.0B | $2.9B | ||
| Q3 25 | $6.7B | $2.7B | ||
| Q2 25 | $6.2B | $2.6B | ||
| Q1 25 | $6.1B | $2.5B | ||
| Q4 24 | $4.5B | $2.4B | ||
| Q3 24 | $4.0B | $2.4B | ||
| Q2 24 | $3.7B | $2.4B | ||
| Q1 24 | $3.6B | $2.3B |
| 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 | $154.7M |
| Free Cash FlowOCF − Capex | $155.4M | $140.3M |
| FCF MarginFCF / Revenue | 19.5% | 22.4% |
| Capex IntensityCapex / Revenue | 7.8% | 2.3% |
| Cash ConversionOCF / Net Profit | 79.14× | 1.85× |
| TTM Free Cash FlowTrailing 4 quarters | $75.1M | $356.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $217.2M | $154.7M | ||
| Q3 25 | $60.0M | $122.4M | ||
| Q2 25 | $-91.7M | $69.7M | ||
| Q1 25 | $25.8M | $55.2M | ||
| Q4 24 | $250.2M | $139.5M | ||
| Q3 24 | $91.3M | $90.7M | ||
| Q2 24 | $82.8M | $85.3M | ||
| Q1 24 | $-15.9M | $45.6M |
| Q4 25 | $155.4M | $140.3M | ||
| Q3 25 | $33.4M | $110.9M | ||
| Q2 25 | $-114.7M | $59.5M | ||
| Q1 25 | $932.0K | $45.6M | ||
| Q4 24 | $225.4M | $127.5M | ||
| Q3 24 | $64.8M | $84.3M | ||
| Q2 24 | $71.4M | $78.5M | ||
| Q1 24 | $-32.1M | $35.5M |
| Q4 25 | 19.5% | 22.4% | ||
| Q3 25 | 4.7% | 18.1% | ||
| Q2 25 | -17.2% | 9.2% | ||
| Q1 25 | 0.2% | 8.2% | ||
| Q4 24 | 39.3% | 23.6% | ||
| Q3 24 | 11.9% | 15.5% | ||
| Q2 24 | 14.2% | 13.1% | ||
| Q1 24 | -7.0% | 6.2% |
| Q4 25 | 7.8% | 2.3% | ||
| Q3 25 | 3.7% | 1.9% | ||
| Q2 25 | 3.4% | 1.6% | ||
| Q1 25 | 4.1% | 1.7% | ||
| Q4 24 | 4.3% | 2.2% | ||
| Q3 24 | 4.9% | 1.2% | ||
| Q2 24 | 2.2% | 1.1% | ||
| Q1 24 | 3.5% | 1.8% |
| Q4 25 | 79.14× | 1.85× | ||
| Q3 25 | — | 1.49× | ||
| Q2 25 | -2.54× | 0.69× | ||
| Q1 25 | 0.29× | 0.75× | ||
| Q4 24 | 1.84× | 2.07× | ||
| Q3 24 | 1.36× | 1.31× | ||
| Q2 24 | 2.03× | 1.04× | ||
| Q1 24 | -0.12× | 0.63× |
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% |
WTS
Segment breakdown not available.
