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Axon Enterprise（AXON）与托尔工业（THO）财务数据对比。点击上方公司名可切换其他公司
托尔工业的季度营收约是Axon Enterprise的3.0倍（$2.4B vs $796.7M）。托尔工业净利率更高（0.9% vs 0.3%，领先0.6%）。Axon Enterprise同比增速更快（38.9% vs 11.5%）。Axon Enterprise自由现金流更多（$155.4M vs $-74.8M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs 4.0%）
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。
托尔工业是美国知名休闲房车（RV）生产商，旗下拥有Airstream、Heartland RV、Jayco等多个子品牌，主营拖挂式及自行式休闲房车的生产销售，总部位于印第安纳州埃尔克哈特，在密歇根、俄亥俄、爱达荷、俄勒冈等多个州设有生产基地。
AXON vs THO — 直观对比
营收规模更大
THO
是对方的3.0倍
$796.7M
营收增速更快
AXON
高出27.4%
11.5%
净利率更高
THO
高出0.6%
0.3%
自由现金流更多
AXON
多$230.2M
$-74.8M
两年增速更快
AXON
近两年复合增速
4.0%
损益表 — Q4 2025 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $2.4B |
| 净利润 | $2.7M | $21.7M |
| 毛利率 | 57.9% | 13.4% |
| 营业利润率 | -6.3% | 1.4% |
| 净利率 | 0.3% | 0.9% |
| 营收同比 | 38.9% | 11.5% |
| 净利润同比 | -98.0% | 1282.8% |
| 每股收益（稀释后） | $0.02 | $0.41 |
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AXONTHO
| Q4 25 | $796.7M | $2.4B | ||
| Q3 25 | $710.6M | $2.5B | ||
| Q2 25 | $668.5M | $2.9B | ||
| Q1 25 | $603.6M | $2.0B | ||
| Q4 24 | $573.4M | $2.1B | ||
| Q3 24 | $544.3M | $2.5B | ||
| Q2 24 | $504.1M | $2.8B | ||
| Q1 24 | $460.7M | $2.2B |
净利润AXONTHO
| Q4 25 | $2.7M | $21.7M | ||
| Q3 25 | $-2.2M | $125.8M | ||
| Q2 25 | $36.1M | $135.2M | ||
| Q1 25 | $88.0M | $-551.0K | ||
| Q4 24 | $136.0M | $-1.8M | ||
| Q3 24 | $67.0M | $90.0M | ||
| Q2 24 | $40.8M | $114.5M | ||
| Q1 24 | $133.2M | $7.2M |
毛利率AXONTHO
| Q4 25 | 57.9% | 13.4% | ||
| Q3 25 | 60.1% | 14.7% | ||
| Q2 25 | 60.4% | 15.3% | ||
| Q1 25 | 60.6% | 12.1% | ||
| Q4 24 | 60.5% | 13.1% | ||
| Q3 24 | 60.8% | 15.8% | ||
| Q2 24 | 60.3% | 15.1% | ||
| Q1 24 | 56.4% | 12.3% |
营业利润率AXONTHO
| Q4 25 | -6.3% | 1.4% | ||
| Q3 25 | -0.3% | 5.7% | ||
| Q2 25 | -0.2% | 5.4% | ||
| Q1 25 | -1.5% | -0.1% | ||
| Q4 24 | -2.6% | -0.1% | ||
| Q3 24 | 4.4% | 5.0% | ||
| Q2 24 | 6.5% | 5.1% | ||
| Q1 24 | 3.5% | 0.3% |
净利率AXONTHO
| Q4 25 | 0.3% | 0.9% | ||
| Q3 25 | -0.3% | 5.0% | ||
| Q2 25 | 5.4% | 4.7% | ||
| Q1 25 | 14.6% | -0.0% | ||
| Q4 24 | 23.7% | -0.1% | ||
| Q3 24 | 12.3% | 3.6% | ||
| Q2 24 | 8.1% | 4.1% | ||
| Q1 24 | 28.9% | 0.3% |
每股收益（稀释后）AXONTHO
| Q4 25 | $0.02 | $0.41 | ||
| Q3 25 | $-0.03 | $2.35 | ||
| Q2 25 | $0.44 | $2.53 | ||
| Q1 25 | $1.08 | $-0.01 | ||
| Q4 24 | $1.68 | $-0.03 | ||
| Q3 24 | $0.86 | $1.69 | ||
| Q2 24 | $0.53 | $2.13 | ||
| Q1 24 | $1.73 | $0.13 |
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 | $509.9M |
| 总债务越低越好 | $1.8B | $916.0M |
| 股东权益账面价值 | $3.2B | $4.3B |
| 总资产 | $7.0B | $7.0B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资AXONTHO
| Q4 25 | $1.7B | $509.9M | ||
| Q3 25 | $2.4B | $586.6M | ||
| Q2 25 | $2.1B | $508.3M | ||
| Q1 25 | $2.2B | $373.8M | ||
| Q4 24 | $788.1M | $445.2M | ||
| Q3 24 | $1.0B | $501.3M | ||
| Q2 24 | $968.9M | $371.8M | ||
| Q1 24 | $964.1M | $340.2M |
总债务AXONTHO
| Q4 25 | $1.8B | $916.0M | ||
| Q3 25 | $2.0B | $923.0M | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | $2.0B | $1.0B | ||
| Q4 24 | $680.3M | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.4B |
股东权益AXONTHO
| Q4 25 | $3.2B | $4.3B | ||
| Q3 25 | $3.0B | $4.3B | ||
| Q2 25 | $2.7B | $4.2B | ||
| Q1 25 | $2.6B | $4.0B | ||
| Q4 24 | $2.3B | $4.1B | ||
| Q3 24 | $2.1B | $4.1B | ||
| Q2 24 | $1.9B | $4.0B | ||
| Q1 24 | $1.8B | $3.9B |
总资产AXONTHO
| Q4 25 | $7.0B | $7.0B | ||
| Q3 25 | $6.7B | $7.1B | ||
| Q2 25 | $6.2B | $7.2B | ||
| Q1 25 | $6.1B | $6.7B | ||
| Q4 24 | $4.5B | $6.9B | ||
| Q3 24 | $4.0B | $7.0B | ||
| Q2 24 | $3.7B | $7.2B | ||
| Q1 24 | $3.6B | $7.2B |
负债/权益比AXONTHO
| Q4 25 | 0.56× | 0.21× | ||
| Q3 25 | 0.66× | 0.22× | ||
| Q2 25 | 0.73× | 0.24× | ||
| Q1 25 | 0.79× | 0.26× | ||
| Q4 24 | 0.29× | 0.27× | ||
| Q3 24 | — | 0.28× | ||
| Q2 24 | — | 0.31× | ||
| Q1 24 | — | 0.36× |
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 | $-44.9M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $-74.8M |
| 自由现金流率自由现金流/营收 | 19.5% | -3.1% |
| 资本支出强度资本支出/营收 | 7.8% | 1.3% |
| 现金转化率经营现金流/净利润 | 79.14× | -2.07× |
| 过去12个月自由现金流最近4个季度 | $75.1M | $375.1M |
8季度趋势，按日历期对齐
经营现金流AXONTHO
| Q4 25 | $217.2M | $-44.9M | ||
| Q3 25 | $60.0M | $258.7M | ||
| Q2 25 | $-91.7M | $257.7M | ||
| Q1 25 | $25.8M | $30.8M | ||
| Q4 24 | $250.2M | $30.7M | ||
| Q3 24 | $91.3M | $338.0M | ||
| Q2 24 | $82.8M | $251.7M | ||
| Q1 24 | $-15.9M | $-103.9M |
自由现金流AXONTHO
| Q4 25 | $155.4M | $-74.8M | ||
| Q3 25 | $33.4M | $221.6M | ||
| Q2 25 | $-114.7M | $222.5M | ||
| Q1 25 | $932.0K | $5.8M | ||
| Q4 24 | $225.4M | $6.4M | ||
| Q3 24 | $64.8M | $301.3M | ||
| Q2 24 | $71.4M | $225.4M | ||
| Q1 24 | $-32.1M | $-140.2M |
自由现金流率AXONTHO
| Q4 25 | 19.5% | -3.1% | ||
| Q3 25 | 4.7% | 8.8% | ||
| Q2 25 | -17.2% | 7.7% | ||
| Q1 25 | 0.2% | 0.3% | ||
| Q4 24 | 39.3% | 0.3% | ||
| Q3 24 | 11.9% | 11.9% | ||
| Q2 24 | 14.2% | 8.0% | ||
| Q1 24 | -7.0% | -6.4% |
资本支出强度AXONTHO
| Q4 25 | 7.8% | 1.3% | ||
| Q3 25 | 3.7% | 1.5% | ||
| Q2 25 | 3.4% | 1.2% | ||
| Q1 25 | 4.1% | 1.2% | ||
| Q4 24 | 4.3% | 1.1% | ||
| Q3 24 | 4.9% | 1.4% | ||
| Q2 24 | 2.2% | 0.9% | ||
| Q1 24 | 3.5% | 1.6% |
现金转化率AXONTHO
| Q4 25 | 79.14× | -2.07× | ||
| Q3 25 | — | 2.06× | ||
| Q2 25 | -2.54× | 1.91× | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.36× | 3.76× | ||
| Q2 24 | 2.03× | 2.20× | ||
| Q1 24 | -0.12× | -14.39× |
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% |
THO
| Other | $417.1M | 17% |
| Travel Trailers | $403.6M | 17% |
| Motorcaravan | $391.9M | 16% |
| Fifth Wheels Towables | $306.9M | 13% |
| Classc Motorized | $297.2M | 12% |
| Campervan | $188.3M | 8% |
| Classa Motorized | $169.9M | 7% |
| Classb Motorized | $110.0M | 5% |
| Other Rv Related | $70.0M | 3% |
| Caravan | $34.3M | 1% |
