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Axon Enterprise（AXON）与XPEL, Inc.（XPEL）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XPEL, Inc.的6.5倍（$796.7M vs $122.3M）。XPEL, Inc.净利率更高（11.0% vs 0.3%，领先10.6%）。Axon Enterprise同比增速更快（38.9% vs 13.7%）。Axon Enterprise自由现金流更多（$155.4M vs $1.6M）。过去两年Axon Enterprise的营收复合增速更高（31.5% vs 16.5%）
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。
XPEL是全球知名的高性能表面保护膜解决方案供应商，核心产品涵盖汽车漆面保护膜、车窗隔热膜、陶瓷涂层等，业务覆盖北美、欧洲、亚太等主要市场，服务对象包括普通车主、汽车经销商及专业安装服务商。
AXON vs XPEL — 直观对比
营收规模更大
AXON
是对方的6.5倍
$122.3M
营收增速更快
AXON
高出25.2%
13.7%
净利率更高
XPEL
高出10.6%
0.3%
自由现金流更多
AXON
多$153.8M
$1.6M
两年增速更快
AXON
近两年复合增速
16.5%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $796.7M | $122.3M |
| 净利润 | $2.7M | $13.4M |
| 毛利率 | 57.9% | 41.9% |
| 营业利润率 | -6.3% | 12.7% |
| 净利率 | 0.3% | 11.0% |
| 营收同比 | 38.9% | 13.7% |
| 净利润同比 | -98.0% | 50.7% |
| 每股收益（稀释后） | $0.02 | $0.48 |
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AXONXPEL
| Q4 25 | $796.7M | $122.3M | ||
| Q3 25 | $710.6M | $125.4M | ||
| Q2 25 | $668.5M | $124.7M | ||
| Q1 25 | $603.6M | $103.8M | ||
| Q4 24 | $573.4M | $107.5M | ||
| Q3 24 | $544.3M | $112.9M | ||
| Q2 24 | $504.1M | $109.9M | ||
| Q1 24 | $460.7M | $90.1M |
净利润AXONXPEL
| Q4 25 | $2.7M | $13.4M | ||
| Q3 25 | $-2.2M | $12.9M | ||
| Q2 25 | $36.1M | $16.3M | ||
| Q1 25 | $88.0M | $8.6M | ||
| Q4 24 | $136.0M | $8.9M | ||
| Q3 24 | $67.0M | $14.9M | ||
| Q2 24 | $40.8M | $15.0M | ||
| Q1 24 | $133.2M | $6.7M |
毛利率AXONXPEL
| Q4 25 | 57.9% | 41.9% | ||
| Q3 25 | 60.1% | 41.8% | ||
| Q2 25 | 60.4% | 42.9% | ||
| Q1 25 | 60.6% | 42.3% | ||
| Q4 24 | 60.5% | 40.6% | ||
| Q3 24 | 60.8% | 42.5% | ||
| Q2 24 | 60.3% | 43.5% | ||
| Q1 24 | 56.4% | 42.0% |
营业利润率AXONXPEL
| Q4 25 | -6.3% | 12.7% | ||
| Q3 25 | -0.3% | 13.4% | ||
| Q2 25 | -0.2% | 15.5% | ||
| Q1 25 | -1.5% | 10.7% | ||
| Q4 24 | -2.6% | 11.5% | ||
| Q3 24 | 4.4% | 16.3% | ||
| Q2 24 | 6.5% | 17.5% | ||
| Q1 24 | 3.5% | 10.2% |
净利率AXONXPEL
| Q4 25 | 0.3% | 11.0% | ||
| Q3 25 | -0.3% | 10.3% | ||
| Q2 25 | 5.4% | 13.1% | ||
| Q1 25 | 14.6% | 8.3% | ||
| Q4 24 | 23.7% | 8.3% | ||
| Q3 24 | 12.3% | 13.2% | ||
| Q2 24 | 8.1% | 13.7% | ||
| Q1 24 | 28.9% | 7.4% |
每股收益（稀释后）AXONXPEL
| Q4 25 | $0.02 | $0.48 | ||
| Q3 25 | $-0.03 | $0.47 | ||
| Q2 25 | $0.44 | $0.59 | ||
| Q1 25 | $1.08 | $0.31 | ||
| Q4 24 | $1.68 | $0.33 | ||
| Q3 24 | $0.86 | $0.54 | ||
| Q2 24 | $0.53 | $0.54 | ||
| Q1 24 | $1.73 | $0.24 |
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 | $50.9M |
| 总债务越低越好 | $1.8B | — |
| 股东权益账面价值 | $3.2B | $280.3M |
| 总资产 | $7.0B | $382.5M |
| 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AXONXPEL
| Q4 25 | $1.7B | $50.9M | ||
| Q3 25 | $2.4B | $64.5M | ||
| Q2 25 | $2.1B | $49.6M | ||
| Q1 25 | $2.2B | $23.5M | ||
| Q4 24 | $788.1M | $22.1M | ||
| Q3 24 | $1.0B | $21.0M | ||
| Q2 24 | $968.9M | $15.0M | ||
| Q1 24 | $964.1M | $8.6M |
总债务AXONXPEL
| 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AXONXPEL
| Q4 25 | $3.2B | $280.3M | ||
| Q3 25 | $3.0B | $269.3M | ||
| Q2 25 | $2.7B | $255.7M | ||
| Q1 25 | $2.6B | $235.5M | ||
| Q4 24 | $2.3B | $225.5M | ||
| Q3 24 | $2.1B | $218.7M | ||
| Q2 24 | $1.9B | $201.9M | ||
| Q1 24 | $1.8B | $186.4M |
总资产AXONXPEL
| Q4 25 | $7.0B | $382.5M | ||
| Q3 25 | $6.7B | $387.7M | ||
| Q2 25 | $6.2B | $318.1M | ||
| Q1 25 | $6.1B | $294.8M | ||
| Q4 24 | $4.5B | $285.6M | ||
| Q3 24 | $4.0B | $273.0M | ||
| Q2 24 | $3.7B | $261.8M | ||
| Q1 24 | $3.6B | $258.5M |
负债/权益比AXONXPEL
| 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 | $2.7M |
| 自由现金流经营现金流 - 资本支出 | $155.4M | $1.6M |
| 自由现金流率自由现金流/营收 | 19.5% | 1.3% |
| 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× | 0.20× |
| 过去12个月自由现金流最近4个季度 | $75.1M | $62.9M |
8季度趋势，按日历期对齐
经营现金流AXONXPEL
| Q4 25 | $217.2M | $2.7M | ||
| Q3 25 | $60.0M | $33.2M | ||
| Q2 25 | $-91.7M | $27.9M | ||
| Q1 25 | $25.8M | $3.2M | ||
| Q4 24 | $250.2M | $6.3M | ||
| Q3 24 | $91.3M | $19.6M | ||
| Q2 24 | $82.8M | $26.9M | ||
| Q1 24 | $-15.9M | $-5.0M |
自由现金流AXONXPEL
| Q4 25 | $155.4M | $1.6M | ||
| Q3 25 | $33.4M | $32.2M | ||
| Q2 25 | $-114.7M | $26.9M | ||
| Q1 25 | $932.0K | $2.2M | ||
| Q4 24 | $225.4M | $4.7M | ||
| Q3 24 | $64.8M | $18.3M | ||
| Q2 24 | $71.4M | $25.1M | ||
| Q1 24 | $-32.1M | $-7.0M |
自由现金流率AXONXPEL
| Q4 25 | 19.5% | 1.3% | ||
| Q3 25 | 4.7% | 25.6% | ||
| Q2 25 | -17.2% | 21.6% | ||
| Q1 25 | 0.2% | 2.1% | ||
| Q4 24 | 39.3% | 4.4% | ||
| Q3 24 | 11.9% | 16.2% | ||
| Q2 24 | 14.2% | 22.8% | ||
| Q1 24 | -7.0% | -7.7% |
资本支出强度AXONXPEL
| Q4 25 | 7.8% | 0.9% | ||
| Q3 25 | 3.7% | 0.8% | ||
| Q2 25 | 3.4% | 0.8% | ||
| Q1 25 | 4.1% | 1.0% | ||
| Q4 24 | 4.3% | 1.5% | ||
| Q3 24 | 4.9% | 1.1% | ||
| Q2 24 | 2.2% | 1.6% | ||
| Q1 24 | 3.5% | 2.2% |
现金转化率AXONXPEL
| Q4 25 | 79.14× | 0.20× | ||
| Q3 25 | — | 2.56× | ||
| Q2 25 | -2.54× | 1.71× | ||
| Q1 25 | 0.29× | 0.38× | ||
| Q4 24 | 1.84× | 0.71× | ||
| Q3 24 | 1.36× | 1.31× | ||
| Q2 24 | 2.03× | 1.79× | ||
| Q1 24 | -0.12× | -0.74× |
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% |
XPEL
| Products | $90.9M | 74% |
| Service Revenue Installation Labor | $23.8M | 19% |
| Service Revenue Cutbank Credits | $4.1M | 3% |
| Service Revenue Software | $2.2M | 2% |
