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Axon Enterprise（AXON）与QWEST CORP（CTBB）财务数据对比。点击上方公司名可切换其他公司
QWEST CORP的季度营收约是Axon Enterprise的1.4倍（$1.1B vs $796.7M），Axon Enterprise净利率更高（0.3% vs -187.5%，领先187.8%），Axon Enterprise同比增速更快（38.9% vs -15.0%），QWEST CORP自由现金流更多（$160.0M vs $155.4M），过去两年Axon Enterprise的营收复合增速更高（31.5% vs -8.6%）
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。
奎斯特公司（以CenturyLink QC名义运营）是一家隶属于 lumen Technologies 的地区性贝尔运营公司。其前身为1911年成立的山地电话电报公司，先后更名为山地贝尔、美国西部通讯，2000年改为现名，业务整合了原Malheur Bell、西北贝尔、太平洋西北贝尔的运营资源。
AXON vs CTBB — 直观对比
营收规模更大
CTBB
是对方的1.4倍
$796.7M
营收增速更快
AXON
高出54.0%
-15.0%
净利率更高
AXON
高出187.8%
-187.5%
自由现金流更多
CTBB
多$4.6M
$155.4M
两年增速更快
AXON
近两年复合增速
-8.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $1.1B |
| 净利润 | $2.7M | $-2.1B |
| 毛利率 | 57.9% | 67.9% |
| 营业利润率 | -6.3% | -183.2% |
| 净利率 | 0.3% | -187.5% |
| 营收同比 | 38.9% | -15.0% |
| 净利润同比 | -98.0% | -627.9% |
| 每股收益（稀释后） | $0.02 | — |
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AXONCTBB
| Q4 25 | $796.7M | $1.1B | ||
| Q3 25 | $710.6M | $1.1B | ||
| Q2 25 | $668.5M | $1.1B | ||
| Q1 25 | $603.6M | $1.2B | ||
| Q4 24 | $573.4M | $1.3B | ||
| Q3 24 | $544.3M | $1.3B | ||
| Q2 24 | $504.1M | $1.3B | ||
| Q1 24 | $460.7M | $1.3B |
净利润AXONCTBB
| Q4 25 | $2.7M | $-2.1B | ||
| Q3 25 | $-2.2M | $176.0M | ||
| Q2 25 | $36.1M | $277.0M | ||
| Q1 25 | $88.0M | $284.0M | ||
| Q4 24 | $136.0M | $391.0M | ||
| Q3 24 | $67.0M | $365.0M | ||
| Q2 24 | $40.8M | $378.0M | ||
| Q1 24 | $133.2M | $353.0M |
毛利率AXONCTBB
| Q4 25 | 57.9% | 67.9% | ||
| Q3 25 | 60.1% | 65.3% | ||
| Q2 25 | 60.4% | 68.2% | ||
| Q1 25 | 60.6% | 69.3% | ||
| Q4 24 | 60.5% | 71.2% | ||
| Q3 24 | 60.8% | 69.9% | ||
| Q2 24 | 60.3% | 71.6% | ||
| Q1 24 | 56.4% | 71.9% |
营业利润率AXONCTBB
| Q4 25 | -6.3% | -183.2% | ||
| Q3 25 | -0.3% | 22.3% | ||
| Q2 25 | -0.2% | 33.1% | ||
| Q1 25 | -1.5% | 33.7% | ||
| Q4 24 | -2.6% | 40.7% | ||
| Q3 24 | 4.4% | 38.5% | ||
| Q2 24 | 6.5% | 40.3% | ||
| Q1 24 | 3.5% | 37.6% |
净利率AXONCTBB
| Q4 25 | 0.3% | -187.5% | ||
| Q3 25 | -0.3% | 16.1% | ||
| Q2 25 | 5.4% | 24.3% | ||
| Q1 25 | 14.6% | 24.7% | ||
| Q4 24 | 23.7% | 30.2% | ||
| Q3 24 | 12.3% | 28.2% | ||
| Q2 24 | 8.1% | 28.7% | ||
| Q1 24 | 28.9% | 26.8% |
每股收益（稀释后）AXONCTBB
| Q4 25 | $0.02 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $0.44 | — | ||
| Q1 25 | $1.08 | — | ||
| Q4 24 | $1.68 | — | ||
| Q3 24 | $0.86 | — | ||
| Q2 24 | $0.53 | — | ||
| Q1 24 | $1.73 | — |
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 | $39.0M |
| 总债务越低越好 | $1.8B | $1.7B |
| 股东权益账面价值 | $3.2B | $10.9B |
| 总资产 | $7.0B | $15.8B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资AXONCTBB
| Q4 25 | $1.7B | $39.0M | ||
| Q3 25 | $2.4B | $36.0M | ||
| Q2 25 | $2.1B | $25.0M | ||
| Q1 25 | $2.2B | $40.0M | ||
| Q4 24 | $788.1M | $26.0M | ||
| Q3 24 | $1.0B | $22.0M | ||
| Q2 24 | $968.9M | $18.0M | ||
| Q1 24 | $964.1M | $14.0M |
总债务AXONCTBB
| Q4 25 | $1.8B | $1.7B | ||
| Q3 25 | $2.0B | $1.7B | ||
| Q2 25 | $2.0B | $1.7B | ||
| Q1 25 | $2.0B | $1.7B | ||
| Q4 24 | $680.3M | $1.7B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $1.9B |
股东权益AXONCTBB
| Q4 25 | $3.2B | $10.9B | ||
| Q3 25 | $3.0B | $13.0B | ||
| Q2 25 | $2.7B | $12.8B | ||
| Q1 25 | $2.6B | $12.5B | ||
| Q4 24 | $2.3B | $12.2B | ||
| Q3 24 | $2.1B | $11.9B | ||
| Q2 24 | $1.9B | $11.5B | ||
| Q1 24 | $1.8B | $11.1B |
总资产AXONCTBB
| Q4 25 | $7.0B | $15.8B | ||
| Q3 25 | $6.7B | $17.9B | ||
| Q2 25 | $6.2B | $17.8B | ||
| Q1 25 | $6.1B | $17.6B | ||
| Q4 24 | $4.5B | $17.4B | ||
| Q3 24 | $4.0B | $17.0B | ||
| Q2 24 | $3.7B | $16.6B | ||
| Q1 24 | $3.6B | $16.4B |
负债/权益比AXONCTBB
| Q4 25 | 0.56× | 0.15× | ||
| Q3 25 | 0.66× | 0.13× | ||
| Q2 25 | 0.73× | 0.13× | ||
| Q1 25 | 0.79× | 0.13× | ||
| Q4 24 | 0.29× | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.17× | ||
| Q1 24 | — | 0.17× |
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 | $402.0M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $160.0M |
| 自由现金流率自由现金流/营收 | 19.5% | 14.5% |
| 资本支出强度资本支出/营收 | 7.8% | 22.0% |
| 现金转化率经营现金流/净利润 | 79.14× | — |
| 过去12个月自由现金流最近4个季度 | $75.1M | $938.0M |
8季度趋势，按日历期对齐
经营现金流AXONCTBB
| Q4 25 | $217.2M | $402.0M | ||
| Q3 25 | $60.0M | $427.0M | ||
| Q2 25 | $-91.7M | $480.0M | ||
| Q1 25 | $25.8M | $453.0M | ||
| Q4 24 | $250.2M | $548.0M | ||
| Q3 24 | $91.3M | $627.0M | ||
| Q2 24 | $82.8M | $548.0M | ||
| Q1 24 | $-15.9M | $471.0M |
自由现金流AXONCTBB
| Q4 25 | $155.4M | $160.0M | ||
| Q3 25 | $33.4M | $252.0M | ||
| Q2 25 | $-114.7M | $276.0M | ||
| Q1 25 | $932.0K | $250.0M | ||
| Q4 24 | $225.4M | $277.0M | ||
| Q3 24 | $64.8M | $396.0M | ||
| Q2 24 | $71.4M | $280.0M | ||
| Q1 24 | $-32.1M | $194.0M |
自由现金流率AXONCTBB
| Q4 25 | 19.5% | 14.5% | ||
| Q3 25 | 4.7% | 23.1% | ||
| Q2 25 | -17.2% | 24.2% | ||
| Q1 25 | 0.2% | 21.7% | ||
| Q4 24 | 39.3% | 21.4% | ||
| Q3 24 | 11.9% | 30.6% | ||
| Q2 24 | 14.2% | 21.3% | ||
| Q1 24 | -7.0% | 14.7% |
资本支出强度AXONCTBB
| Q4 25 | 7.8% | 22.0% | ||
| Q3 25 | 3.7% | 16.0% | ||
| Q2 25 | 3.4% | 17.9% | ||
| Q1 25 | 4.1% | 17.6% | ||
| Q4 24 | 4.3% | 20.9% | ||
| Q3 24 | 4.9% | 17.9% | ||
| Q2 24 | 2.2% | 20.4% | ||
| Q1 24 | 3.5% | 21.0% |
现金转化率AXONCTBB
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | 2.43× | ||
| Q2 25 | -2.54× | 1.73× | ||
| Q1 25 | 0.29× | 1.60× | ||
| Q4 24 | 1.84× | 1.40× | ||
| Q3 24 | 1.36× | 1.72× | ||
| Q2 24 | 2.03× | 1.45× | ||
| Q1 24 | -0.12× | 1.33× |
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% |
CTBB
| Nonrelated Party | $665.0M | 60% |
| Other | $436.0M | 40% |
