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Axon Enterprise（AXON）与Ubiquiti Inc.（UI）财务数据对比。点击上方公司名可切换其他公司
Ubiquiti Inc.的季度营收约是Axon Enterprise的1.0倍（$814.9M vs $796.7M），Ubiquiti Inc.净利率更高（28.7% vs 0.3%，领先28.3%），Axon Enterprise同比增速更快（38.9% vs 35.8%），Ubiquiti Inc.自由现金流更多（$260.3M vs $155.4M），过去两年Axon Enterprise的营收复合增速更高（31.5% vs 28.6%）
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。
Ubiquiti Inc.是一家美国科技企业，2003年于加利福尼亚州圣何塞成立，目前总部位于纽约。公司旗下拥有多个品牌，主营面向企业及家庭用户的有线、无线数据通信产品的研发、生产与销售。
AXON vs UI — 直观对比
营收规模更大
UI
是对方的1.0倍
$796.7M
营收增速更快
AXON
高出3.1%
35.8%
净利率更高
UI
高出28.3%
0.3%
自由现金流更多
UI
多$104.8M
$155.4M
两年增速更快
AXON
近两年复合增速
28.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $814.9M |
| 净利润 | $2.7M | $233.6M |
| 毛利率 | 57.9% | 45.9% |
| 营业利润率 | -6.3% | 35.9% |
| 净利率 | 0.3% | 28.7% |
| 营收同比 | 38.9% | 35.8% |
| 净利润同比 | -98.0% | 70.8% |
| 每股收益（稀释后） | $0.02 | $3.86 |
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AXONUI
| Q4 25 | $796.7M | $814.9M | ||
| Q3 25 | $710.6M | $733.8M | ||
| Q2 25 | $668.5M | $759.2M | ||
| Q1 25 | $603.6M | $664.2M | ||
| Q4 24 | $573.4M | $599.9M | ||
| Q3 24 | $544.3M | $550.3M | ||
| Q2 24 | $504.1M | $507.5M | ||
| Q1 24 | $460.7M | $493.0M |
净利润AXONUI
| Q4 25 | $2.7M | $233.6M | ||
| Q3 25 | $-2.2M | $207.9M | ||
| Q2 25 | $36.1M | $266.7M | ||
| Q1 25 | $88.0M | $180.4M | ||
| Q4 24 | $136.0M | $136.8M | ||
| Q3 24 | $67.0M | $128.0M | ||
| Q2 24 | $40.8M | $103.8M | ||
| Q1 24 | $133.2M | $76.3M |
毛利率AXONUI
| Q4 25 | 57.9% | 45.9% | ||
| Q3 25 | 60.1% | 46.0% | ||
| Q2 25 | 60.4% | 45.1% | ||
| Q1 25 | 60.6% | 44.5% | ||
| Q4 24 | 60.5% | 41.2% | ||
| Q3 24 | 60.8% | 42.1% | ||
| Q2 24 | 60.3% | 40.2% | ||
| Q1 24 | 56.4% | 35.3% |
营业利润率AXONUI
| Q4 25 | -6.3% | 35.9% | ||
| Q3 25 | -0.3% | 35.7% | ||
| Q2 25 | -0.2% | 34.4% | ||
| Q1 25 | -1.5% | 34.2% | ||
| Q4 24 | -2.6% | 29.8% | ||
| Q3 24 | 4.4% | 30.7% | ||
| Q2 24 | 6.5% | 27.3% | ||
| Q1 24 | 3.5% | 22.6% |
净利率AXONUI
| Q4 25 | 0.3% | 28.7% | ||
| Q3 25 | -0.3% | 28.3% | ||
| Q2 25 | 5.4% | 35.1% | ||
| Q1 25 | 14.6% | 27.2% | ||
| Q4 24 | 23.7% | 22.8% | ||
| Q3 24 | 12.3% | 23.3% | ||
| Q2 24 | 8.1% | 20.5% | ||
| Q1 24 | 28.9% | 15.5% |
每股收益（稀释后）AXONUI
| Q4 25 | $0.02 | $3.86 | ||
| Q3 25 | $-0.03 | $3.43 | ||
| Q2 25 | $0.44 | $4.40 | ||
| Q1 25 | $1.08 | $2.98 | ||
| Q4 24 | $1.68 | $2.26 | ||
| Q3 24 | $0.86 | $2.12 | ||
| Q2 24 | $0.53 | $1.72 | ||
| Q1 24 | $1.73 | $1.26 |
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 | $302.8M |
| 总债务越低越好 | $1.8B | $47.5M |
| 股东权益账面价值 | $3.2B | $1.0B |
| 总资产 | $7.0B | $1.6B |
| 负债/权益比越低杠杆越低 | 0.56× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资AXONUI
| Q4 25 | $1.7B | $302.8M | ||
| Q3 25 | $2.4B | $177.2M | ||
| Q2 25 | $2.1B | $149.7M | ||
| Q1 25 | $2.2B | $151.0M | ||
| Q4 24 | $788.1M | $133.1M | ||
| Q3 24 | $1.0B | $165.2M | ||
| Q2 24 | $968.9M | $126.3M | ||
| Q1 24 | $964.1M | $102.5M |
总债务AXONUI
| Q4 25 | $1.8B | $47.5M | ||
| Q3 25 | $2.0B | $133.8M | ||
| Q2 25 | $2.0B | $250.0M | ||
| Q1 25 | $2.0B | $340.0M | ||
| Q4 24 | $680.3M | $406.3M | ||
| Q3 24 | — | $552.5M | ||
| Q2 24 | — | $708.1M | ||
| Q1 24 | — | $877.5M |
股东权益AXONUI
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.0B | $828.4M | ||
| Q2 25 | $2.7B | $668.3M | ||
| Q1 25 | $2.6B | $436.1M | ||
| Q4 24 | $2.3B | $290.4M | ||
| Q3 24 | $2.1B | $188.1M | ||
| Q2 24 | $1.9B | $95.1M | ||
| Q1 24 | $1.8B | $25.9M |
总资产AXONUI
| Q4 25 | $7.0B | $1.6B | ||
| Q3 25 | $6.7B | $1.5B | ||
| Q2 25 | $6.2B | $1.5B | ||
| Q1 25 | $6.1B | $1.3B | ||
| Q4 24 | $4.5B | $1.2B | ||
| Q3 24 | $4.0B | $1.2B | ||
| Q2 24 | $3.7B | $1.2B | ||
| Q1 24 | $3.6B | $1.2B |
负债/权益比AXONUI
| Q4 25 | 0.56× | 0.05× | ||
| Q3 25 | 0.66× | 0.16× | ||
| Q2 25 | 0.73× | 0.37× | ||
| Q1 25 | 0.79× | 0.78× | ||
| Q4 24 | 0.29× | 1.40× | ||
| Q3 24 | — | 2.94× | ||
| Q2 24 | — | 7.45× | ||
| Q1 24 | — | 33.92× |
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 | $263.9M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $260.3M |
| 自由现金流率自由现金流/营收 | 19.5% | 31.9% |
| 资本支出强度资本支出/营收 | 7.8% | 0.4% |
| 现金转化率经营现金流/净利润 | 79.14× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $75.1M | $699.5M |
8季度趋势，按日历期对齐
经营现金流AXONUI
| Q4 25 | $217.2M | $263.9M | ||
| Q3 25 | $60.0M | $198.5M | ||
| Q2 25 | $-91.7M | $130.4M | ||
| Q1 25 | $25.8M | $123.6M | ||
| Q4 24 | $250.2M | $152.4M | ||
| Q3 24 | $91.3M | $233.7M | ||
| Q2 24 | $82.8M | $231.4M | ||
| Q1 24 | $-15.9M | $163.9M |
自由现金流AXONUI
| Q4 25 | $155.4M | $260.3M | ||
| Q3 25 | $33.4M | $193.3M | ||
| Q2 25 | $-114.7M | $125.2M | ||
| Q1 25 | $932.0K | $120.7M | ||
| Q4 24 | $225.4M | $150.4M | ||
| Q3 24 | $64.8M | $231.1M | ||
| Q2 24 | $71.4M | $229.5M | ||
| Q1 24 | $-32.1M | $160.6M |
自由现金流率AXONUI
| Q4 25 | 19.5% | 31.9% | ||
| Q3 25 | 4.7% | 26.3% | ||
| Q2 25 | -17.2% | 16.5% | ||
| Q1 25 | 0.2% | 18.2% | ||
| Q4 24 | 39.3% | 25.1% | ||
| Q3 24 | 11.9% | 42.0% | ||
| Q2 24 | 14.2% | 45.2% | ||
| Q1 24 | -7.0% | 32.6% |
资本支出强度AXONUI
| Q4 25 | 7.8% | 0.4% | ||
| Q3 25 | 3.7% | 0.7% | ||
| Q2 25 | 3.4% | 0.7% | ||
| Q1 25 | 4.1% | 0.4% | ||
| Q4 24 | 4.3% | 0.3% | ||
| Q3 24 | 4.9% | 0.5% | ||
| Q2 24 | 2.2% | 0.4% | ||
| Q1 24 | 3.5% | 0.7% |
现金转化率AXONUI
| Q4 25 | 79.14× | 1.13× | ||
| Q3 25 | — | 0.95× | ||
| Q2 25 | -2.54× | 0.49× | ||
| Q1 25 | 0.29× | 0.68× | ||
| Q4 24 | 1.84× | 1.11× | ||
| Q3 24 | 1.36× | 1.83× | ||
| Q2 24 | 2.03× | 2.23× | ||
| Q1 24 | -0.12× | 2.15× |
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% |
UI
| Enterprise Technology | $729.0M | 89% |
| Service Provider Technology | $85.9M | 11% |
