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Axon Enterprise（AXON）与ADVANCED DRAINAGE SYSTEMS, INC.（WMS）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ADVANCED DRAINAGE SYSTEMS, INC.的1.1倍（$796.7M vs $693.4M），ADVANCED DRAINAGE SYSTEMS, INC.净利率更高（13.5% vs 0.3%，领先13.2%），Axon Enterprise同比增速更快（38.9% vs 0.4%），ADVANCED DRAINAGE SYSTEMS, INC.自由现金流更多（$183.6M vs $155.4M），过去两年Axon Enterprise的营收复合增速更高（31.5% vs 3.0%）
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。
Advanced Drainage Systems（简称ADS）是一家美国企业，主营聚丙烯、聚乙烯管材，塑料渗滤场系统、化粪池及配套配件、雨水调蓄设施、PVC排水构件、管件、水过滤与分离设备的设计、生产及销售，是美国规模最大的高密度聚乙烯管道生产商，总部位于俄亥俄州希利厄德。
AXON vs WMS — 直观对比
营收规模更大
AXON
是对方的1.1倍
$693.4M
营收增速更快
AXON
高出38.5%
0.4%
净利率更高
WMS
高出13.2%
0.3%
自由现金流更多
WMS
多$28.1M
$155.4M
两年增速更快
AXON
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $693.4M |
| 净利润 | $2.7M | $93.6M |
| 毛利率 | 57.9% | 37.4% |
| 营业利润率 | -6.3% | 19.7% |
| 净利率 | 0.3% | 13.5% |
| 营收同比 | 38.9% | 0.4% |
| 净利润同比 | -98.0% | 15.3% |
| 每股收益（稀释后） | $0.02 | $1.19 |
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AXONWMS
| Q4 25 | $796.7M | $693.4M | ||
| Q3 25 | $710.6M | $850.4M | ||
| Q2 25 | $668.5M | $829.9M | ||
| Q1 25 | $603.6M | $615.8M | ||
| Q4 24 | $573.4M | $690.5M | ||
| Q3 24 | $544.3M | $782.6M | ||
| Q2 24 | $504.1M | $815.3M | ||
| Q1 24 | $460.7M | $653.8M |
净利润AXONWMS
| Q4 25 | $2.7M | $93.6M | ||
| Q3 25 | $-2.2M | $156.0M | ||
| Q2 25 | $36.1M | $143.9M | ||
| Q1 25 | $88.0M | $77.2M | ||
| Q4 24 | $136.0M | $81.2M | ||
| Q3 24 | $67.0M | $130.4M | ||
| Q2 24 | $40.8M | $161.4M | ||
| Q1 24 | $133.2M | $94.8M |
毛利率AXONWMS
| Q4 25 | 57.9% | 37.4% | ||
| Q3 25 | 60.1% | 40.0% | ||
| Q2 25 | 60.4% | 39.8% | ||
| Q1 25 | 60.6% | 36.7% | ||
| Q4 24 | 60.5% | 35.0% | ||
| Q3 24 | 60.8% | 37.6% | ||
| Q2 24 | 60.3% | 40.8% | ||
| Q1 24 | 56.4% | 38.5% |
营业利润率AXONWMS
| Q4 25 | -6.3% | 19.7% | ||
| Q3 25 | -0.3% | 26.3% | ||
| Q2 25 | -0.2% | 24.8% | ||
| Q1 25 | -1.5% | 19.0% | ||
| Q4 24 | -2.6% | 18.4% | ||
| Q3 24 | 4.4% | 23.9% | ||
| Q2 24 | 6.5% | 27.7% | ||
| Q1 24 | 3.5% | 20.7% |
净利率AXONWMS
| Q4 25 | 0.3% | 13.5% | ||
| Q3 25 | -0.3% | 18.3% | ||
| Q2 25 | 5.4% | 17.3% | ||
| Q1 25 | 14.6% | 12.5% | ||
| Q4 24 | 23.7% | 11.8% | ||
| Q3 24 | 12.3% | 16.7% | ||
| Q2 24 | 8.1% | 19.8% | ||
| Q1 24 | 28.9% | 14.5% |
每股收益（稀释后）AXONWMS
| Q4 25 | $0.02 | $1.19 | ||
| Q3 25 | $-0.03 | $1.99 | ||
| Q2 25 | $0.44 | $1.84 | ||
| Q1 25 | $1.08 | $0.99 | ||
| Q4 24 | $1.68 | $1.04 | ||
| Q3 24 | $0.86 | $1.67 | ||
| Q2 24 | $0.53 | $2.06 | ||
| Q1 24 | $1.73 | $1.22 |
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 | $1.0B |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.2B | $1.9B |
| 总资产 | $7.0B | $4.1B |
| 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AXONWMS
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $2.4B | $812.9M | ||
| Q2 25 | $2.1B | $638.3M | ||
| Q1 25 | $2.2B | $463.3M | ||
| Q4 24 | $788.1M | $488.9M | ||
| Q3 24 | $1.0B | $613.0M | ||
| Q2 24 | $968.9M | $541.6M | ||
| Q1 24 | $964.1M | $490.2M |
总债务AXONWMS
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $2.0B | $1.3B | ||
| Q4 24 | $680.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.3B |
股东权益AXONWMS
| Q4 25 | $3.2B | $1.9B | ||
| Q3 25 | $3.0B | $1.8B | ||
| Q2 25 | $2.7B | $1.7B | ||
| Q1 25 | $2.6B | $1.5B | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $1.9B | $1.3B | ||
| Q1 24 | $1.8B | $1.2B |
总资产AXONWMS
| Q4 25 | $7.0B | $4.1B | ||
| Q3 25 | $6.7B | $4.1B | ||
| Q2 25 | $6.2B | $3.9B | ||
| Q1 25 | $6.1B | $3.7B | ||
| Q4 24 | $4.5B | $3.6B | ||
| Q3 24 | $4.0B | $3.5B | ||
| Q2 24 | $3.7B | $3.4B | ||
| Q1 24 | $3.6B | $3.3B |
负债/权益比AXONWMS
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.79× | 0.83× | ||
| Q4 24 | 0.29× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.11× |
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 | $269.3M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $183.6M |
| 自由现金流率自由现金流/营收 | 19.5% | 26.5% |
| 资本支出强度资本支出/营收 | 7.8% | 12.4% |
| 现金转化率经营现金流/净利润 | 79.14× | 2.88× |
| 过去12个月自由现金流最近4个季度 | $75.1M | $577.1M |
8季度趋势，按日历期对齐
经营现金流AXONWMS
| Q4 25 | $217.2M | $269.3M | ||
| Q3 25 | $60.0M | $234.9M | ||
| Q2 25 | $-91.7M | $275.0M | ||
| Q1 25 | $25.8M | $41.2M | ||
| Q4 24 | $250.2M | $189.9M | ||
| Q3 24 | $91.3M | $166.9M | ||
| Q2 24 | $82.8M | $183.4M | ||
| Q1 24 | $-15.9M | $17.7M |
自由现金流AXONWMS
| Q4 25 | $155.4M | $183.6M | ||
| Q3 25 | $33.4M | $176.4M | ||
| Q2 25 | $-114.7M | $222.4M | ||
| Q1 25 | $932.0K | $-5.3M | ||
| Q4 24 | $225.4M | $135.7M | ||
| Q3 24 | $64.8M | $112.4M | ||
| Q2 24 | $71.4M | $125.7M | ||
| Q1 24 | $-32.1M | $-29.8M |
自由现金流率AXONWMS
| Q4 25 | 19.5% | 26.5% | ||
| Q3 25 | 4.7% | 20.7% | ||
| Q2 25 | -17.2% | 26.8% | ||
| Q1 25 | 0.2% | -0.9% | ||
| Q4 24 | 39.3% | 19.7% | ||
| Q3 24 | 11.9% | 14.4% | ||
| Q2 24 | 14.2% | 15.4% | ||
| Q1 24 | -7.0% | -4.6% |
资本支出强度AXONWMS
| Q4 25 | 7.8% | 12.4% | ||
| Q3 25 | 3.7% | 6.9% | ||
| Q2 25 | 3.4% | 6.3% | ||
| Q1 25 | 4.1% | 7.6% | ||
| Q4 24 | 4.3% | 7.9% | ||
| Q3 24 | 4.9% | 7.0% | ||
| Q2 24 | 2.2% | 7.1% | ||
| Q1 24 | 3.5% | 7.3% |
现金转化率AXONWMS
| Q4 25 | 79.14× | 2.88× | ||
| Q3 25 | — | 1.51× | ||
| Q2 25 | -2.54× | 1.91× | ||
| Q1 25 | 0.29× | 0.53× | ||
| Q4 24 | 1.84× | 2.34× | ||
| Q3 24 | 1.36× | 1.28× | ||
| Q2 24 | 2.03× | 1.14× | ||
| Q1 24 | -0.12× | 0.19× |
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% |
WMS
| Reportable Segment Aggregation Before Other Operating Segment | $557.3M | 80% |
| Other | $85.5M | 12% |
| Pipe | $35.5M | 5% |
| Allied Products And Other | $15.0M | 2% |
