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Axon Enterprise（AXON）与Mayville Engineering Company, Inc.（MEC）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Mayville Engineering Company, Inc.的5.9倍（$796.7M vs $134.3M）。Axon Enterprise净利率更高（0.3% vs -3.2%，领先3.6%）。Axon Enterprise同比增速更快（38.9% vs 10.7%）。Axon Enterprise自由现金流更多（$155.4M vs $10.2M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs -8.8%）
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。
Mayville Engineering Company（MEC）是总部位于美国的领先金属零部件、装配组件及定制工程解决方案供应商，主要服务农业、建筑、商用运输、国防、动力运动等领域的原始设备制造商客户，提供从原型开发到大规模量产的全流程服务。
AXON vs MEC — 直观对比
营收规模更大
AXON
是对方的5.9倍
$134.3M
营收增速更快
AXON
高出28.3%
10.7%
净利率更高
AXON
高出3.6%
-3.2%
自由现金流更多
AXON
多$145.3M
$10.2M
两年增速更快
AXON
近两年复合增速
-8.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $134.3M |
| 净利润 | $2.7M | $-4.4M |
| 毛利率 | 57.9% | 6.8% |
| 营业利润率 | -6.3% | -4.1% |
| 净利率 | 0.3% | -3.2% |
| 营收同比 | 38.9% | 10.7% |
| 净利润同比 | -98.0% | -127.3% |
| 每股收益（稀释后） | $0.02 | $-0.22 |
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AXONMEC
| Q4 25 | $796.7M | $134.3M | ||
| Q3 25 | $710.6M | $144.3M | ||
| Q2 25 | $668.5M | $132.3M | ||
| Q1 25 | $603.6M | $135.6M | ||
| Q4 24 | $573.4M | $121.3M | ||
| Q3 24 | $544.3M | $135.4M | ||
| Q2 24 | $504.1M | $163.6M | ||
| Q1 24 | $460.7M | $161.3M |
净利润AXONMEC
| Q4 25 | $2.7M | $-4.4M | ||
| Q3 25 | $-2.2M | $-2.7M | ||
| Q2 25 | $36.1M | $-1.1M | ||
| Q1 25 | $88.0M | $20.0K | ||
| Q4 24 | $136.0M | $16.0M | ||
| Q3 24 | $67.0M | $3.0M | ||
| Q2 24 | $40.8M | $3.8M | ||
| Q1 24 | $133.2M | $3.2M |
毛利率AXONMEC
| Q4 25 | 57.9% | 6.8% | ||
| Q3 25 | 60.1% | 11.0% | ||
| Q2 25 | 60.4% | 10.3% | ||
| Q1 25 | 60.6% | 11.3% | ||
| Q4 24 | 60.5% | 8.9% | ||
| Q3 24 | 60.8% | 12.6% | ||
| Q2 24 | 60.3% | 13.6% | ||
| Q1 24 | 56.4% | 13.0% |
营业利润率AXONMEC
| Q4 25 | -6.3% | -4.1% | ||
| Q3 25 | -0.3% | 0.0% | ||
| Q2 25 | -0.2% | 0.1% | ||
| Q1 25 | -1.5% | 1.2% | ||
| Q4 24 | -2.6% | 19.0% | ||
| Q3 24 | 4.4% | 4.2% | ||
| Q2 24 | 6.5% | 5.0% | ||
| Q1 24 | 3.5% | 4.7% |
净利率AXONMEC
| Q4 25 | 0.3% | -3.2% | ||
| Q3 25 | -0.3% | -1.9% | ||
| Q2 25 | 5.4% | -0.8% | ||
| Q1 25 | 14.6% | 0.0% | ||
| Q4 24 | 23.7% | 13.2% | ||
| Q3 24 | 12.3% | 2.2% | ||
| Q2 24 | 8.1% | 2.3% | ||
| Q1 24 | 28.9% | 2.0% |
每股收益（稀释后）AXONMEC
| Q4 25 | $0.02 | $-0.22 | ||
| Q3 25 | $-0.03 | $-0.13 | ||
| Q2 25 | $0.44 | $-0.05 | ||
| Q1 25 | $1.08 | $0.00 | ||
| Q4 24 | $1.68 | $0.76 | ||
| Q3 24 | $0.86 | $0.14 | ||
| Q2 24 | $0.53 | $0.18 | ||
| Q1 24 | $1.73 | $0.16 |
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 | $1.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.2B | $240.7M |
| 总资产 | $7.0B | $563.6M |
| 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AXONMEC
| Q4 25 | $1.7B | $1.5M | ||
| Q3 25 | $2.4B | $1.2M | ||
| Q2 25 | $2.1B | $206.0K | ||
| Q1 25 | $2.2B | $183.0K | ||
| Q4 24 | $788.1M | $206.0K | ||
| Q3 24 | $1.0B | $178.0K | ||
| Q2 24 | $968.9M | $314.0K | ||
| Q1 24 | $964.1M | $314.0K |
总债务AXONMEC
| 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AXONMEC
| Q4 25 | $3.2B | $240.7M | ||
| Q3 25 | $3.0B | $244.8M | ||
| Q2 25 | $2.7B | $246.8M | ||
| Q1 25 | $2.6B | $250.0M | ||
| Q4 24 | $2.3B | $251.8M | ||
| Q3 24 | $2.1B | $238.4M | ||
| Q2 24 | $1.9B | $238.1M | ||
| Q1 24 | $1.8B | $234.0M |
总资产AXONMEC
| Q4 25 | $7.0B | $563.6M | ||
| Q3 25 | $6.7B | $585.6M | ||
| Q2 25 | $6.2B | $433.7M | ||
| Q1 25 | $6.1B | $447.7M | ||
| Q4 24 | $4.5B | $445.6M | ||
| Q3 24 | $4.0B | $466.0M | ||
| Q2 24 | $3.7B | $488.2M | ||
| Q1 24 | $3.6B | $499.9M |
负债/权益比AXONMEC
| 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 | $13.4M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $10.2M |
| 自由现金流率自由现金流/营收 | 19.5% | 7.6% |
| 资本支出强度资本支出/营收 | 7.8% | 2.4% |
| 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 | $26.9M |
8季度趋势，按日历期对齐
经营现金流AXONMEC
| Q4 25 | $217.2M | $13.4M | ||
| Q3 25 | $60.0M | $1.9M | ||
| Q2 25 | $-91.7M | $15.0M | ||
| Q1 25 | $25.8M | $8.3M | ||
| Q4 24 | $250.2M | $38.0M | ||
| Q3 24 | $91.3M | $17.9M | ||
| Q2 24 | $82.8M | $23.3M | ||
| Q1 24 | $-15.9M | $10.6M |
自由现金流AXONMEC
| Q4 25 | $155.4M | $10.2M | ||
| Q3 25 | $33.4M | $-1.1M | ||
| Q2 25 | $-114.7M | $12.5M | ||
| Q1 25 | $932.0K | $5.4M | ||
| Q4 24 | $225.4M | $35.6M | ||
| Q3 24 | $64.8M | $15.1M | ||
| Q2 24 | $71.4M | $19.2M | ||
| Q1 24 | $-32.1M | $7.8M |
自由现金流率AXONMEC
| Q4 25 | 19.5% | 7.6% | ||
| Q3 25 | 4.7% | -0.8% | ||
| Q2 25 | -17.2% | 9.5% | ||
| Q1 25 | 0.2% | 4.0% | ||
| Q4 24 | 39.3% | 29.4% | ||
| Q3 24 | 11.9% | 11.1% | ||
| Q2 24 | 14.2% | 11.7% | ||
| Q1 24 | -7.0% | 4.9% |
资本支出强度AXONMEC
| Q4 25 | 7.8% | 2.4% | ||
| Q3 25 | 3.7% | 2.1% | ||
| Q2 25 | 3.4% | 1.8% | ||
| Q1 25 | 4.1% | 2.2% | ||
| Q4 24 | 4.3% | 1.9% | ||
| Q3 24 | 4.9% | 2.1% | ||
| Q2 24 | 2.2% | 2.5% | ||
| Q1 24 | 3.5% | 1.7% |
现金转化率AXONMEC
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -2.54× | — | ||
| Q1 25 | 0.29× | 416.65× | ||
| Q4 24 | 1.84× | 2.38× | ||
| Q3 24 | 1.36× | 6.03× | ||
| Q2 24 | 2.03× | 6.15× | ||
| Q1 24 | -0.12× | 3.28× |
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% |
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
