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Axon Enterprise（AXON）与昆腾（QMCO）财务数据对比。点击上方公司名可切换其他公司
Axon Enterprise的季度营收约是昆腾的10.7倍（$796.7M vs $74.6M）。Axon Enterprise净利率更高（0.3% vs -37.3%，领先37.7%）。Axon Enterprise同比增速更快（38.9% vs 2.8%）。Axon Enterprise自由现金流更多（$155.4M vs $-5.6M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs 2.1%）
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。
昆腾公司是一家专注数据存储、管理与保护的科技企业，为全生命周期的视频及非结构化数据提供存储、管理、归档与保护技术服务，客户覆盖各行各业的企业、媒体娱乐公司、政府机构、数据企业以及生命科学机构。公司总部位于加利福尼亚州圣何塞，在全球多地设有分支机构。
AXON vs QMCO — 直观对比
营收规模更大
AXON
是对方的10.7倍
$74.6M
营收增速更快
AXON
高出36.1%
2.8%
净利率更高
AXON
高出37.7%
-37.3%
自由现金流更多
AXON
多$161.1M
$-5.6M
两年增速更快
AXON
近两年复合增速
2.1%
损益表 — Q4 2025 vs Q3 2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $74.6M |
| 净利润 | $2.7M | $-27.8M |
| 毛利率 | 57.9% | 38.8% |
| 营业利润率 | -6.3% | -1.6% |
| 净利率 | 0.3% | -37.3% |
| 营收同比 | 38.9% | 2.8% |
| 净利润同比 | -98.0% | 61.0% |
| 每股收益（稀释后） | $0.02 | $-2.03 |
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AXONQMCO
| Q4 25 | $796.7M | $74.6M | ||
| Q3 25 | $710.6M | $62.7M | ||
| Q2 25 | $668.5M | $64.3M | ||
| Q1 25 | $603.6M | $61.3M | ||
| Q4 24 | $573.4M | $68.7M | ||
| Q3 24 | $544.3M | $71.8M | ||
| Q2 24 | $504.1M | $72.3M | ||
| Q1 24 | $460.7M | $71.5M |
净利润AXONQMCO
| Q4 25 | $2.7M | $-27.8M | ||
| Q3 25 | $-2.2M | $-46.5M | ||
| Q2 25 | $36.1M | $-17.2M | ||
| Q1 25 | $88.0M | $-7.7M | ||
| Q4 24 | $136.0M | $-75.3M | ||
| Q3 24 | $67.0M | $-12.2M | ||
| Q2 24 | $40.8M | $-19.9M | ||
| Q1 24 | $133.2M | $-18.9M |
毛利率AXONQMCO
| Q4 25 | 57.9% | 38.8% | ||
| Q3 25 | 60.1% | 37.6% | ||
| Q2 25 | 60.4% | 35.3% | ||
| Q1 25 | 60.6% | 39.6% | ||
| Q4 24 | 60.5% | 40.6% | ||
| Q3 24 | 60.8% | 42.7% | ||
| Q2 24 | 60.3% | 37.4% | ||
| Q1 24 | 56.4% | 38.2% |
营业利润率AXONQMCO
| Q4 25 | -6.3% | -1.6% | ||
| Q3 25 | -0.3% | -13.0% | ||
| Q2 25 | -0.2% | -19.6% | ||
| Q1 25 | -1.5% | -18.9% | ||
| Q4 24 | -2.6% | -11.3% | ||
| Q3 24 | 4.4% | -7.7% | ||
| Q2 24 | 6.5% | -23.3% | ||
| Q1 24 | 3.5% | -19.3% |
净利率AXONQMCO
| Q4 25 | 0.3% | -37.3% | ||
| Q3 25 | -0.3% | -74.1% | ||
| Q2 25 | 5.4% | -26.8% | ||
| Q1 25 | 14.6% | -12.6% | ||
| Q4 24 | 23.7% | -109.6% | ||
| Q3 24 | 12.3% | -16.9% | ||
| Q2 24 | 8.1% | -27.5% | ||
| Q1 24 | 28.9% | -26.5% |
每股收益（稀释后）AXONQMCO
| Q4 25 | $0.02 | $-2.03 | ||
| Q3 25 | $-0.03 | $-3.49 | ||
| Q2 25 | $0.44 | $-1.87 | ||
| Q1 25 | $1.08 | $-0.31 | ||
| Q4 24 | $1.68 | $-15.35 | ||
| Q3 24 | $0.86 | $-2.54 | ||
| Q2 24 | $0.53 | $-4.15 | ||
| Q1 24 | $1.73 | $-5.80 |
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 | $13.2M |
| 总债务越低越好 | $1.8B | $75.9M |
| 股东权益账面价值 | $3.2B | $-184.2M |
| 总资产 | $7.0B | $149.3M |
| 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AXONQMCO
| Q4 25 | $1.7B | $13.2M | ||
| Q3 25 | $2.4B | $14.7M | ||
| Q2 25 | $2.1B | $37.4M | ||
| Q1 25 | $2.2B | $16.5M | ||
| Q4 24 | $788.1M | $20.4M | ||
| Q3 24 | $1.0B | $16.7M | ||
| Q2 24 | $968.9M | $17.3M | ||
| Q1 24 | $964.1M | $25.7M |
总债务AXONQMCO
| Q4 25 | $1.8B | $75.9M | ||
| Q3 25 | $2.0B | $0 | ||
| Q2 25 | $2.0B | $0 | ||
| Q1 25 | $2.0B | $0 | ||
| Q4 24 | $680.3M | $0 | ||
| Q3 24 | — | $123.0M | ||
| Q2 24 | — | $100.9M | ||
| Q1 24 | — | $0 |
股东权益AXONQMCO
| Q4 25 | $3.2B | $-184.2M | ||
| Q3 25 | $3.0B | $-160.5M | ||
| Q2 25 | $2.7B | $-114.4M | ||
| Q1 25 | $2.6B | $-164.4M | ||
| Q4 24 | $2.3B | $-196.6M | ||
| Q3 24 | $2.1B | $-151.1M | ||
| Q2 24 | $1.9B | $-140.3M | ||
| Q1 24 | $1.8B | $-121.5M |
总资产AXONQMCO
| Q4 25 | $7.0B | $149.3M | ||
| Q3 25 | $6.7B | $137.7M | ||
| Q2 25 | $6.2B | $169.2M | ||
| Q1 25 | $6.1B | $155.4M | ||
| Q4 24 | $4.5B | $168.1M | ||
| Q3 24 | $4.0B | $163.1M | ||
| Q2 24 | $3.7B | $173.1M | ||
| Q1 24 | $3.6B | $187.6M |
负债/权益比AXONQMCO
| 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 | $-4.9M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $-5.6M |
| 自由现金流率自由现金流/营收 | 19.5% | -7.5% |
| 资本支出强度资本支出/营收 | 7.8% | 0.9% |
| 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 | $-43.6M |
8季度趋势，按日历期对齐
经营现金流AXONQMCO
| Q4 25 | $217.2M | $-4.9M | ||
| Q3 25 | $60.0M | $-15.6M | ||
| Q2 25 | $-91.7M | $-16.9M | ||
| Q1 25 | $25.8M | $-3.3M | ||
| Q4 24 | $250.2M | $-3.2M | ||
| Q3 24 | $91.3M | $-15.3M | ||
| Q2 24 | $82.8M | $-1.9M | ||
| Q1 24 | $-15.9M | $10.6M |
自由现金流AXONQMCO
| Q4 25 | $155.4M | $-5.6M | ||
| Q3 25 | $33.4M | $-16.0M | ||
| Q2 25 | $-114.7M | $-18.1M | ||
| Q1 25 | $932.0K | $-3.9M | ||
| Q4 24 | $225.4M | $-4.2M | ||
| Q3 24 | $64.8M | $-16.9M | ||
| Q2 24 | $71.4M | $-3.5M | ||
| Q1 24 | $-32.1M | $9.7M |
自由现金流率AXONQMCO
| Q4 25 | 19.5% | -7.5% | ||
| Q3 25 | 4.7% | -25.5% | ||
| Q2 25 | -17.2% | -28.1% | ||
| Q1 25 | 0.2% | -6.4% | ||
| Q4 24 | 39.3% | -6.2% | ||
| Q3 24 | 11.9% | -23.5% | ||
| Q2 24 | 14.2% | -4.9% | ||
| Q1 24 | -7.0% | 13.6% |
资本支出强度AXONQMCO
| Q4 25 | 7.8% | 0.9% | ||
| Q3 25 | 3.7% | 0.7% | ||
| Q2 25 | 3.4% | 1.9% | ||
| Q1 25 | 4.1% | 1.0% | ||
| Q4 24 | 4.3% | 1.6% | ||
| Q3 24 | 4.9% | 2.2% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 3.5% | 1.2% |
现金转化率AXONQMCO
| Q4 25 | 79.14× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -2.54× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | — | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | — |
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% |
QMCO
| Secondary Storage Systems | $30.6M | 41% |
| Service And Subscriptions | $26.5M | 36% |
| Primary Storage Systems | $10.1M | 14% |
| Subscriptions | $4.4M | 6% |
| Royalty | $1.6M | 2% |
