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Axon Enterprise（AXON）与Dave & Buster's Entertainment, Inc.（PLAY）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Dave & Buster's Entertainment, Inc.的1.8倍（$796.7M vs $448.2M），Axon Enterprise净利率更高（0.3% vs -9.4%，领先9.7%），Axon Enterprise同比增速更快（38.9% vs -1.1%），Axon Enterprise自由现金流更多（$155.4M vs $-20.6M），过去两年Axon Enterprise的营收复合增速更高（31.5% vs -13.5%）
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。
戴夫与巴斯特娱乐是总部位于美国达拉斯的餐饮娱乐企业，旗下每家门店都配备全套服务餐厅、酒吧以及名为“百万美元 midway”的游戏游乐区。截至2024年2月，该公司共开设162家门店，其中美国本土158家，波多黎各和加拿大各设2家门店，主打餐饮与休闲娱乐融合的消费体验。
AXON vs PLAY — 直观对比
营收规模更大
AXON
是对方的1.8倍
$448.2M
营收增速更快
AXON
高出40.0%
-1.1%
净利率更高
AXON
高出9.7%
-9.4%
自由现金流更多
AXON
多$176.0M
$-20.6M
两年增速更快
AXON
近两年复合增速
-13.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $448.2M |
| 净利润 | $2.7M | $-42.1M |
| 毛利率 | 57.9% | 85.8% |
| 营业利润率 | -6.3% | -3.6% |
| 净利率 | 0.3% | -9.4% |
| 营收同比 | 38.9% | -1.1% |
| 净利润同比 | -98.0% | -28.7% |
| 每股收益（稀释后） | $0.02 | $-1.22 |
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AXONPLAY
| Q4 25 | $796.7M | $448.2M | ||
| Q3 25 | $710.6M | $557.4M | ||
| Q2 25 | $668.5M | $567.7M | ||
| Q1 25 | $603.6M | $534.5M | ||
| Q4 24 | $573.4M | $453.0M | ||
| Q3 24 | $544.3M | $557.1M | ||
| Q2 24 | $504.1M | $588.1M | ||
| Q1 24 | $460.7M | $599.0M |
净利润AXONPLAY
| Q4 25 | $2.7M | $-42.1M | ||
| Q3 25 | $-2.2M | $11.4M | ||
| Q2 25 | $36.1M | $21.7M | ||
| Q1 25 | $88.0M | $9.3M | ||
| Q4 24 | $136.0M | $-32.7M | ||
| Q3 24 | $67.0M | $40.3M | ||
| Q2 24 | $40.8M | $41.4M | ||
| Q1 24 | $133.2M | $36.1M |
毛利率AXONPLAY
| Q4 25 | 57.9% | 85.8% | ||
| Q3 25 | 60.1% | 86.3% | ||
| Q2 25 | 60.4% | 85.5% | ||
| Q1 25 | 60.6% | 85.5% | ||
| Q4 24 | 60.5% | 85.0% | ||
| Q3 24 | 60.8% | 85.3% | ||
| Q2 24 | 60.3% | 85.2% | ||
| Q1 24 | 56.4% | 84.1% |
营业利润率AXONPLAY
| Q4 25 | -6.3% | -3.6% | ||
| Q3 25 | -0.3% | 9.5% | ||
| Q2 25 | -0.2% | 11.1% | ||
| Q1 25 | -1.5% | 8.3% | ||
| Q4 24 | -2.6% | 1.4% | ||
| Q3 24 | 4.4% | 15.2% | ||
| Q2 24 | 6.5% | 14.5% | ||
| Q1 24 | 3.5% | 14.9% |
净利率AXONPLAY
| Q4 25 | 0.3% | -9.4% | ||
| Q3 25 | -0.3% | 2.0% | ||
| Q2 25 | 5.4% | 3.8% | ||
| Q1 25 | 14.6% | 1.7% | ||
| Q4 24 | 23.7% | -7.2% | ||
| Q3 24 | 12.3% | 7.2% | ||
| Q2 24 | 8.1% | 7.0% | ||
| Q1 24 | 28.9% | 6.0% |
每股收益（稀释后）AXONPLAY
| Q4 25 | $0.02 | $-1.22 | ||
| Q3 25 | $-0.03 | $0.32 | ||
| Q2 25 | $0.44 | $0.62 | ||
| Q1 25 | $1.08 | $0.32 | ||
| Q4 24 | $1.68 | $-0.84 | ||
| Q3 24 | $0.86 | $0.99 | ||
| Q2 24 | $0.53 | $0.99 | ||
| Q1 24 | $1.73 | $0.95 |
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 | $13.6M |
| 总债务越低越好 | $1.8B | $1.6B |
| 股东权益账面价值 | $3.2B | $130.8M |
| 总资产 | $7.0B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.56× | 12.17× |
8季度趋势，按日历期对齐
现金及短期投资AXONPLAY
| Q4 25 | $1.7B | $13.6M | ||
| Q3 25 | $2.4B | $12.0M | ||
| Q2 25 | $2.1B | $11.9M | ||
| Q1 25 | $2.2B | $6.9M | ||
| Q4 24 | $788.1M | $8.6M | ||
| Q3 24 | $1.0B | $13.1M | ||
| Q2 24 | $968.9M | $32.1M | ||
| Q1 24 | $964.1M | $37.3M |
总债务AXONPLAY
| Q4 25 | $1.8B | $1.6B | ||
| Q3 25 | $2.0B | $1.6B | ||
| Q2 25 | $2.0B | $1.6B | ||
| Q1 25 | $2.0B | $1.5B | ||
| Q4 24 | $680.3M | $1.5B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.3B |
股东权益AXONPLAY
| Q4 25 | $3.2B | $130.8M | ||
| Q3 25 | $3.0B | $166.2M | ||
| Q2 25 | $2.7B | $146.8M | ||
| Q1 25 | $2.6B | $145.8M | ||
| Q4 24 | $2.3B | $226.6M | ||
| Q3 24 | $2.1B | $284.4M | ||
| Q2 24 | $1.9B | $292.5M | ||
| Q1 24 | $1.8B | $251.2M |
总资产AXONPLAY
| Q4 25 | $7.0B | $4.1B | ||
| Q3 25 | $6.7B | $4.1B | ||
| Q2 25 | $6.2B | $4.1B | ||
| Q1 25 | $6.1B | $4.0B | ||
| Q4 24 | $4.5B | $3.9B | ||
| Q3 24 | $4.0B | $3.8B | ||
| Q2 24 | $3.7B | $3.8B | ||
| Q1 24 | $3.6B | $3.8B |
负债/权益比AXONPLAY
| Q4 25 | 0.56× | 12.17× | ||
| Q3 25 | 0.66× | 9.57× | ||
| Q2 25 | 0.73× | 10.98× | ||
| Q1 25 | 0.79× | 10.45× | ||
| Q4 24 | 0.29× | 6.58× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | — | 4.58× | ||
| Q1 24 | — | 5.33× |
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 | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $-20.6M |
| 自由现金流率自由现金流/营收 | 19.5% | -4.6% |
| 资本支出强度资本支出/营收 | 7.8% | 17.5% |
| 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 | $-195.6M |
8季度趋势，按日历期对齐
经营现金流AXONPLAY
| Q4 25 | $217.2M | $58.0M | ||
| Q3 25 | $60.0M | $34.0M | ||
| Q2 25 | $-91.7M | $95.8M | ||
| Q1 25 | $25.8M | $108.9M | ||
| Q4 24 | $250.2M | $-7.2M | ||
| Q3 24 | $91.3M | $101.8M | ||
| Q2 24 | $82.8M | $108.8M | ||
| Q1 24 | $-15.9M | $97.2M |
自由现金流AXONPLAY
| Q4 25 | $155.4M | $-20.6M | ||
| Q3 25 | $33.4M | $-55.2M | ||
| Q2 25 | $-114.7M | $-58.8M | ||
| Q1 25 | $932.0K | $-61.0M | ||
| Q4 24 | $225.4M | $-138.4M | ||
| Q3 24 | $64.8M | $-14.3M | ||
| Q2 24 | $71.4M | $-4.2M | ||
| Q1 24 | $-32.1M | $-25.4M |
自由现金流率AXONPLAY
| Q4 25 | 19.5% | -4.6% | ||
| Q3 25 | 4.7% | -9.9% | ||
| Q2 25 | -17.2% | -10.4% | ||
| Q1 25 | 0.2% | -11.4% | ||
| Q4 24 | 39.3% | -30.6% | ||
| Q3 24 | 11.9% | -2.6% | ||
| Q2 24 | 14.2% | -0.7% | ||
| Q1 24 | -7.0% | -4.2% |
资本支出强度AXONPLAY
| Q4 25 | 7.8% | 17.5% | ||
| Q3 25 | 3.7% | 16.0% | ||
| Q2 25 | 3.4% | 27.2% | ||
| Q1 25 | 4.1% | 31.8% | ||
| Q4 24 | 4.3% | 29.0% | ||
| Q3 24 | 4.9% | 20.8% | ||
| Q2 24 | 2.2% | 19.2% | ||
| Q1 24 | 3.5% | 20.5% |
现金转化率AXONPLAY
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | 2.98× | ||
| Q2 25 | -2.54× | 4.41× | ||
| Q1 25 | 0.29× | 11.71× | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | 2.53× | ||
| Q2 24 | 2.03× | 2.63× | ||
| Q1 24 | -0.12× | 2.69× |
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% |
PLAY
| Game Play Credit Usage | $273.1M | 61% |
| Food And Nonalcoholic Beverages | $115.1M | 26% |
| Alcoholic Beverage | $53.7M | 12% |
| Other Entertainment | $6.3M | 1% |
| Gift Card Revenue | $3.5M | 1% |
