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Axon Enterprise（AXON）与SCANSOURCE, INC.（SCSC）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SCANSOURCE, INC.的1.0倍（$796.7M vs $766.5M），SCANSOURCE, INC.净利率更高（2.2% vs 0.3%，领先1.8%），Axon Enterprise同比增速更快（38.9% vs 2.5%），Axon Enterprise自由现金流更多（$155.4M vs $28.9M），过去两年Axon Enterprise的营收复合增速更高（31.5% vs 0.9%）
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。
ScanSource是全球领先的专业技术分销商，主营销售点系统、条码扫描设备、网络安全产品、云服务及通信解决方案，面向北美、拉美、欧洲的增值经销商、服务提供商及企业客户，覆盖零售、医疗、工业、公共部门等领域。
AXON vs SCSC — 直观对比
营收规模更大
AXON
是对方的1.0倍
$766.5M
营收增速更快
AXON
高出36.4%
2.5%
净利率更高
SCSC
高出1.8%
0.3%
自由现金流更多
AXON
多$126.6M
$28.9M
两年增速更快
AXON
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $766.5M |
| 净利润 | $2.7M | $16.5M |
| 毛利率 | 57.9% | 13.4% |
| 营业利润率 | -6.3% | 2.3% |
| 净利率 | 0.3% | 2.2% |
| 营收同比 | 38.9% | 2.5% |
| 净利润同比 | -98.0% | -3.3% |
| 每股收益（稀释后） | $0.02 | $0.75 |
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AXONSCSC
| Q4 25 | $796.7M | $766.5M | ||
| Q3 25 | $710.6M | $739.6M | ||
| Q2 25 | $668.5M | $812.9M | ||
| Q1 25 | $603.6M | $704.8M | ||
| Q4 24 | $573.4M | $747.5M | ||
| Q3 24 | $544.3M | $775.6M | ||
| Q2 24 | $504.1M | $746.1M | ||
| Q1 24 | $460.7M | $752.6M |
净利润AXONSCSC
| Q4 25 | $2.7M | $16.5M | ||
| Q3 25 | $-2.2M | $19.9M | ||
| Q2 25 | $36.1M | $20.1M | ||
| Q1 25 | $88.0M | $17.4M | ||
| Q4 24 | $136.0M | $17.1M | ||
| Q3 24 | $67.0M | $17.0M | ||
| Q2 24 | $40.8M | $16.1M | ||
| Q1 24 | $133.2M | $12.8M |
毛利率AXONSCSC
| Q4 25 | 57.9% | 13.4% | ||
| Q3 25 | 60.1% | 14.5% | ||
| Q2 25 | 60.4% | 12.9% | ||
| Q1 25 | 60.6% | 14.2% | ||
| Q4 24 | 60.5% | 13.6% | ||
| Q3 24 | 60.8% | 13.1% | ||
| Q2 24 | 60.3% | 13.0% | ||
| Q1 24 | 56.4% | 12.6% |
营业利润率AXONSCSC
| Q4 25 | -6.3% | 2.3% | ||
| Q3 25 | -0.3% | 3.5% | ||
| Q2 25 | -0.2% | 3.3% | ||
| Q1 25 | -1.5% | 3.2% | ||
| Q4 24 | -2.6% | 2.5% | ||
| Q3 24 | 4.4% | 2.3% | ||
| Q2 24 | 6.5% | 2.9% | ||
| Q1 24 | 3.5% | 2.3% |
净利率AXONSCSC
| Q4 25 | 0.3% | 2.2% | ||
| Q3 25 | -0.3% | 2.7% | ||
| Q2 25 | 5.4% | 2.5% | ||
| Q1 25 | 14.6% | 2.5% | ||
| Q4 24 | 23.7% | 2.3% | ||
| Q3 24 | 12.3% | 2.2% | ||
| Q2 24 | 8.1% | 2.2% | ||
| Q1 24 | 28.9% | 1.7% |
每股收益（稀释后）AXONSCSC
| Q4 25 | $0.02 | $0.75 | ||
| Q3 25 | $-0.03 | $0.89 | ||
| Q2 25 | $0.44 | $0.87 | ||
| Q1 25 | $1.08 | $0.74 | ||
| Q4 24 | $1.68 | $0.70 | ||
| Q3 24 | $0.86 | $0.69 | ||
| Q2 24 | $0.53 | $0.66 | ||
| Q1 24 | $1.73 | $0.50 |
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 | $83.5M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.2B | $910.9M |
| 总资产 | $7.0B | $1.7B |
| 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AXONSCSC
| Q4 25 | $1.7B | $83.5M | ||
| Q3 25 | $2.4B | $124.9M | ||
| Q2 25 | $2.1B | $126.2M | ||
| Q1 25 | $2.2B | $146.3M | ||
| Q4 24 | $788.1M | $110.5M | ||
| Q3 24 | $1.0B | $145.0M | ||
| Q2 24 | $968.9M | $185.5M | ||
| Q1 24 | $964.1M | $159.1M |
总债务AXONSCSC
| 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AXONSCSC
| Q4 25 | $3.2B | $910.9M | ||
| Q3 25 | $3.0B | $914.0M | ||
| Q2 25 | $2.7B | $906.4M | ||
| Q1 25 | $2.6B | $901.7M | ||
| Q4 24 | $2.3B | $900.7M | ||
| Q3 24 | $2.1B | $920.9M | ||
| Q2 24 | $1.9B | $924.3M | ||
| Q1 24 | $1.8B | $944.1M |
总资产AXONSCSC
| Q4 25 | $7.0B | $1.7B | ||
| Q3 25 | $6.7B | $1.7B | ||
| Q2 25 | $6.2B | $1.8B | ||
| Q1 25 | $6.1B | $1.7B | ||
| Q4 24 | $4.5B | $1.7B | ||
| Q3 24 | $4.0B | $1.8B | ||
| Q2 24 | $3.7B | $1.8B | ||
| Q1 24 | $3.6B | $1.8B |
负债/权益比AXONSCSC
| 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 | $30.8M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $28.9M |
| 自由现金流率自由现金流/营收 | 19.5% | 3.8% |
| 资本支出强度资本支出/营收 | 7.8% | 0.3% |
| 现金转化率经营现金流/净利润 | 79.14× | 1.87× |
| 过去12个月自由现金流最近4个季度 | $75.1M | — |
8季度趋势，按日历期对齐
经营现金流AXONSCSC
| Q4 25 | $217.2M | $30.8M | ||
| Q3 25 | $60.0M | $23.2M | ||
| Q2 25 | $-91.7M | — | ||
| Q1 25 | $25.8M | $66.1M | ||
| Q4 24 | $250.2M | $-6.2M | ||
| Q3 24 | $91.3M | $44.8M | ||
| Q2 24 | $82.8M | — | ||
| Q1 24 | $-15.9M | $160.2M |
自由现金流AXONSCSC
| Q4 25 | $155.4M | $28.9M | ||
| Q3 25 | $33.4M | $20.8M | ||
| Q2 25 | $-114.7M | — | ||
| Q1 25 | $932.0K | $64.6M | ||
| Q4 24 | $225.4M | $-8.2M | ||
| Q3 24 | $64.8M | $42.5M | ||
| Q2 24 | $71.4M | — | ||
| Q1 24 | $-32.1M | $157.7M |
自由现金流率AXONSCSC
| Q4 25 | 19.5% | 3.8% | ||
| Q3 25 | 4.7% | 2.8% | ||
| Q2 25 | -17.2% | — | ||
| Q1 25 | 0.2% | 9.2% | ||
| Q4 24 | 39.3% | -1.1% | ||
| Q3 24 | 11.9% | 5.5% | ||
| Q2 24 | 14.2% | — | ||
| Q1 24 | -7.0% | 21.0% |
资本支出强度AXONSCSC
| Q4 25 | 7.8% | 0.3% | ||
| Q3 25 | 3.7% | 0.3% | ||
| Q2 25 | 3.4% | 0.3% | ||
| Q1 25 | 4.1% | 0.2% | ||
| Q4 24 | 4.3% | 0.3% | ||
| Q3 24 | 4.9% | 0.3% | ||
| Q2 24 | 2.2% | 0.2% | ||
| Q1 24 | 3.5% | 0.3% |
现金转化率AXONSCSC
| Q4 25 | 79.14× | 1.87× | ||
| Q3 25 | — | 1.17× | ||
| Q2 25 | -2.54× | — | ||
| Q1 25 | 0.29× | 3.79× | ||
| Q4 24 | 1.84× | -0.36× | ||
| Q3 24 | 1.36× | 2.64× | ||
| Q2 24 | 2.03× | — | ||
| Q1 24 | -0.12× | 12.51× |
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% |
SCSC
| Products And Services | $723.4M | 94% |
| Intelisys Advisory | $25.0M | 3% |
| Recurring Revenue | $18.2M | 2% |
