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Axon Enterprise（AXON）与BADGER METER INC（BMI）财务数据对比。点击上方公司名可切换其他公司
Axon Enterprise的季度营收约是BADGER METER INC的3.4倍（$796.7M vs $234.1M）。BADGER METER INC净利率更高（14.3% vs 0.3%，领先14.0%）。Axon Enterprise同比增速更快（38.9% vs 14.1%）。Axon Enterprise自由现金流更多（$155.4M vs $50.8M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs 9.2%）
Axon Enterprise是总部位于美国亚利桑那州斯科茨代尔的企业，面向军队、执法部门及民用市场开发各类武器装备与相关技术产品，业务覆盖公共安全、国防及民用消费等多个领域，为不同用户群体提供适配的产品解决方案。
Badger Meter Inc是全球领先的流量测量与控制解决方案供应商，主要服务水务企业、工业、商业及住宅客户群体，核心产品包括智能水表、物联网使用监测系统及配套软件，可帮助客户追踪资源消耗、减少浪费、提升运营效率，核心市场覆盖北美、欧洲及亚太地区。
AXON vs BMI — 直观对比
营收规模更大
AXON
是对方的3.4倍
$234.1M
营收增速更快
AXON
高出24.8%
14.1%
净利率更高
BMI
高出14.0%
0.3%
自由现金流更多
AXON
多$104.7M
$50.8M
两年增速更快
AXON
近两年复合增速
9.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $234.1M |
| 净利润 | $2.7M | $33.6M |
| 毛利率 | 57.9% | 39.7% |
| 营业利润率 | -6.3% | 18.4% |
| 净利率 | 0.3% | 14.3% |
| 营收同比 | 38.9% | 14.1% |
| 净利润同比 | -98.0% | 9.3% |
| 每股收益（稀释后） | $0.02 | $1.13 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AXONBMI
| Q4 25 | $796.7M | $234.1M | ||
| Q3 25 | $710.6M | $222.2M | ||
| Q2 25 | $668.5M | $238.1M | ||
| Q1 25 | $603.6M | $222.2M | ||
| Q4 24 | $573.4M | $205.2M | ||
| Q3 24 | $544.3M | $208.4M | ||
| Q2 24 | $504.1M | $216.7M | ||
| Q1 24 | $460.7M | $196.3M |
净利润AXONBMI
| Q4 25 | $2.7M | $33.6M | ||
| Q3 25 | $-2.2M | $35.1M | ||
| Q2 25 | $36.1M | $34.6M | ||
| Q1 25 | $88.0M | $38.4M | ||
| Q4 24 | $136.0M | $30.7M | ||
| Q3 24 | $67.0M | $32.0M | ||
| Q2 24 | $40.8M | $33.1M | ||
| Q1 24 | $133.2M | $29.1M |
毛利率AXONBMI
| Q4 25 | 57.9% | 39.7% | ||
| Q3 25 | 60.1% | 43.1% | ||
| Q2 25 | 60.4% | 41.1% | ||
| Q1 25 | 60.6% | 42.9% | ||
| Q4 24 | 60.5% | 40.3% | ||
| Q3 24 | 60.8% | 40.2% | ||
| Q2 24 | 60.3% | 39.4% | ||
| Q1 24 | 56.4% | 39.3% |
营业利润率AXONBMI
| Q4 25 | -6.3% | 18.4% | ||
| Q3 25 | -0.3% | 20.7% | ||
| Q2 25 | -0.2% | 18.8% | ||
| Q1 25 | -1.5% | 22.2% | ||
| Q4 24 | -2.6% | 19.1% | ||
| Q3 24 | 4.4% | 19.5% | ||
| Q2 24 | 6.5% | 19.2% | ||
| Q1 24 | 3.5% | 18.6% |
净利率AXONBMI
| Q4 25 | 0.3% | 14.3% | ||
| Q3 25 | -0.3% | 15.8% | ||
| Q2 25 | 5.4% | 14.5% | ||
| Q1 25 | 14.6% | 17.3% | ||
| Q4 24 | 23.7% | 15.0% | ||
| Q3 24 | 12.3% | 15.4% | ||
| Q2 24 | 8.1% | 15.3% | ||
| Q1 24 | 28.9% | 14.8% |
每股收益（稀释后）AXONBMI
| Q4 25 | $0.02 | $1.13 | ||
| Q3 25 | $-0.03 | $1.19 | ||
| Q2 25 | $0.44 | $1.17 | ||
| Q1 25 | $1.08 | $1.30 | ||
| Q4 24 | $1.68 | $1.04 | ||
| Q3 24 | $0.86 | $1.08 | ||
| Q2 24 | $0.53 | $1.12 | ||
| Q1 24 | $1.73 | $0.99 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.7B | — |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.2B | $713.3M |
| 总资产 | $7.0B | $973.6M |
| 负债/权益比越低杠杆越低 | 0.56× | — |
8季度趋势，按日历期对齐
现金及短期投资AXONBMI
| Q4 25 | $1.7B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $788.1M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $968.9M | — | ||
| Q1 24 | $964.1M | — |
总债务AXONBMI
| 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 | — | — |
股东权益AXONBMI
| Q4 25 | $3.2B | $713.3M | ||
| Q3 25 | $3.0B | $702.5M | ||
| Q2 25 | $2.7B | $677.6M | ||
| Q1 25 | $2.6B | $641.7M | ||
| Q4 24 | $2.3B | $606.2M | ||
| Q3 24 | $2.1B | $591.2M | ||
| Q2 24 | $1.9B | $563.1M | ||
| Q1 24 | $1.8B | $535.6M |
总资产AXONBMI
| Q4 25 | $7.0B | $973.6M | ||
| Q3 25 | $6.7B | $978.3M | ||
| Q2 25 | $6.2B | $936.4M | ||
| Q1 25 | $6.1B | $899.6M | ||
| Q4 24 | $4.5B | $816.4M | ||
| Q3 24 | $4.0B | $802.9M | ||
| Q2 24 | $3.7B | $781.3M | ||
| Q1 24 | $3.6B | $743.5M |
负债/权益比AXONBMI
| 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 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $217.2M | $54.8M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $50.8M |
| 自由现金流率自由现金流/营收 | 19.5% | 21.7% |
| 资本支出强度资本支出/营收 | 7.8% | 1.7% |
| 现金转化率经营现金流/净利润 | 79.14× | 1.63× |
| 过去12个月自由现金流最近4个季度 | $75.1M | $169.7M |
8季度趋势，按日历期对齐
经营现金流AXONBMI
| Q4 25 | $217.2M | $54.8M | ||
| Q3 25 | $60.0M | $51.3M | ||
| Q2 25 | $-91.7M | $44.6M | ||
| Q1 25 | $25.8M | $33.0M | ||
| Q4 24 | $250.2M | $52.1M | ||
| Q3 24 | $91.3M | $45.1M | ||
| Q2 24 | $82.8M | $36.4M | ||
| Q1 24 | $-15.9M | $21.5M |
自由现金流AXONBMI
| Q4 25 | $155.4M | $50.8M | ||
| Q3 25 | $33.4M | $48.2M | ||
| Q2 25 | $-114.7M | $40.6M | ||
| Q1 25 | $932.0K | $30.1M | ||
| Q4 24 | $225.4M | $47.4M | ||
| Q3 24 | $64.8M | $42.0M | ||
| Q2 24 | $71.4M | $34.1M | ||
| Q1 24 | $-32.1M | $18.8M |
自由现金流率AXONBMI
| Q4 25 | 19.5% | 21.7% | ||
| Q3 25 | 4.7% | 21.7% | ||
| Q2 25 | -17.2% | 17.1% | ||
| Q1 25 | 0.2% | 13.5% | ||
| Q4 24 | 39.3% | 23.1% | ||
| Q3 24 | 11.9% | 20.1% | ||
| Q2 24 | 14.2% | 15.7% | ||
| Q1 24 | -7.0% | 9.6% |
资本支出强度AXONBMI
| Q4 25 | 7.8% | 1.7% | ||
| Q3 25 | 3.7% | 1.4% | ||
| Q2 25 | 3.4% | 1.7% | ||
| Q1 25 | 4.1% | 1.3% | ||
| Q4 24 | 4.3% | 2.3% | ||
| Q3 24 | 4.9% | 1.5% | ||
| Q2 24 | 2.2% | 1.1% | ||
| Q1 24 | 3.5% | 1.4% |
现金转化率AXONBMI
| Q4 25 | 79.14× | 1.63× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | -2.54× | 1.29× | ||
| Q1 25 | 0.29× | 0.86× | ||
| Q4 24 | 1.84× | 1.70× | ||
| Q3 24 | 1.36× | 1.41× | ||
| Q2 24 | 2.03× | 1.10× | ||
| Q1 24 | -0.12× | 0.74× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AXON
| Software And Sensors Segment | $342.5M | 43% |
| TASER Devices Professional | $264.2M | 33% |
| Personal Sensors | $109.1M | 14% |
| Platform Solutions | $80.9M | 10% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
