Current Ratio
since 2005
Calculation
Axon Enterprise Inc., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 3.00 | = | 1,805,278) | ÷ | 602,646) |
| Dec 31, 2021 | 2.65 | = | 1,109,490) | ÷ | 418,521) |
| Dec 31, 2020 | 3.83 | = | 981,952) | ÷ | 256,331) |
| Dec 31, 2019 | 3.17 | = | 619,091) | ÷ | 195,566) |
| Dec 31, 2018 | 3.36 | = | 558,155) | ÷ | 166,011) |
| Dec 31, 2017 | 1.90 | = | 205,192) | ÷ | 107,950) |
| Dec 31, 2016 | 2.27 | = | 177,231) | ÷ | 78,039) |
| Dec 31, 2015 | 4.23 | = | 161,409) | ÷ | 38,140) |
| Dec 31, 2014 | 4.37 | = | 139,828) | ÷ | 31,973) |
| Dec 31, 2013 | 4.21 | = | 97,467) | ÷ | 23,129) |
| Dec 31, 2012 | 4.37 | = | 79,053) | ÷ | 18,109) |
| Dec 31, 2011 | 3.89 | = | 61,732) | ÷ | 15,888) |
| Dec 31, 2010 | 6.89 | = | 82,326) | ÷ | 11,948) |
| Dec 31, 2009 | 6.23 | = | 85,885) | ÷ | 13,785) |
| Dec 31, 2008 | 8.36 | = | 91,599) | ÷ | 10,956) |
| Dec 31, 2007 | 7.73 | = | 96,427) | ÷ | 12,474) |
| Dec 31, 2006 | 3.07 | = | 56,116) | ÷ | 18,303) |
| Dec 31, 2005 | 5.62 | = | 42,428) | ÷ | 7,556) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
Axon Enterprise Inc. has consistently maintained a current ratio above 1.0 from 2005 to 2022, indicating a persistent ability to meet short-term obligations using short-term assets. While the absolute values of both current assets and current liabilities grew substantially over the analyzed period, the liquidity position evolved from a state of extreme excess to a more normalized operational level.
- Asset and Liability Expansion
- A significant scaling of the balance sheet is evident, with current assets increasing from $42.4 million in 2005 to $1.8 billion in 2022. Current liabilities followed a similar growth trajectory, rising from $7.6 million to $602.6 million over the same timeframe. The scale of growth accelerated notably after 2017, reflecting an expansion in the volume of short-term resources and obligations.
- Early Period Liquidity Trends
- Between 2005 and 2010, the current ratio was characterized by high volatility and exceptionally high values, peaking at 8.36 in 2008. These levels suggest a highly conservative liquidity posture, where current assets vastly exceeded the requirements needed to cover immediate liabilities.
- Liquidity Compression and Adjustment
- A downward trend in the current ratio is observed between 2011 and 2017, as the ratio declined from 3.89 to a period low of 1.90. This reduction indicates a shift toward a more efficient utilization of current assets relative to liabilities, moving away from the extreme cushions seen in the previous decade.
- Recent Stabilization
- From 2018 to 2022, the current ratio stabilized within a range of 2.65 to 3.36. Despite the massive increase in the absolute dollar amounts of current assets and liabilities during this phase, the ratio remained relatively constant, suggesting a disciplined and consistent approach to working capital management during a period of rapid corporate growth.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
How can I help you?
Comparison to Competitors
Axon Enterprise Inc., current ratio, long-term trends, comparison to competitors
| Axon Enterprise Inc. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 3.00 | 1.22 | 1.39 | 1.38 | 1.16 | 1.25 | 1.32 | 1.09 |
| Dec 31, 2021 | 2.65 | 1.33 | 1.46 | 1.04 | 1.28 | 1.30 | 1.42 | 1.19 |
| Dec 31, 2020 | 3.83 | 1.39 | 1.53 | 1.56 | 1.58 | 1.47 | 1.39 | 1.21 |
| Dec 31, 2019 | 3.17 | 1.05 | 1.47 | 1.70 | 1.16 | 1.34 | 1.22 | 1.08 |
| Dec 31, 2018 | 3.36 | 1.08 | 1.37 | 1.47 | — | 1.29 | 1.12 | 1.13 |
| Dec 31, 2017 | 1.90 | 1.16 | 1.35 | 1.64 | — | 1.38 | 1.38 | 1.35 |
| Dec 31, 2016 | 2.27 | 1.25 | 1.22 | 1.27 | — | 1.41 | 1.20 | 1.30 |
| Dec 31, 2015 | 4.23 | 1.35 | 1.31 | 1.43 | — | 1.09 | 1.15 | 1.18 |
| Dec 31, 2014 | 4.37 | 1.20 | 1.39 | 1.51 | — | 1.50 | 1.11 | 1.30 |
| Dec 31, 2013 | 4.21 | 1.26 | 1.40 | 1.78 | — | 1.49 | 1.20 | 1.29 |
| Dec 31, 2012 | 4.37 | 1.27 | 1.43 | 1.44 | — | 1.35 | 1.14 | 1.24 |
| Dec 31, 2011 | 3.89 | 1.21 | 1.33 | 1.60 | — | 1.31 | 1.16 | 1.38 |
| Dec 31, 2010 | 6.89 | 1.15 | 1.44 | 1.70 | — | 1.28 | 1.15 | 1.33 |
| Dec 31, 2009 | 6.23 | 1.07 | 1.39 | 1.68 | — | 1.25 | 1.17 | 1.29 |
| Dec 31, 2008 | 8.36 | 0.84 | 1.21 | 1.28 | — | 1.08 | 1.01 | 1.24 |
| Dec 31, 2007 | 7.73 | 0.86 | 1.15 | 1.30 | — | 1.15 | 1.11 | 1.26 |
| Dec 31, 2006 | 3.07 | 0.77 | 1.20 | 1.29 | — | 1.21 | 1.06 | 1.24 |
| Dec 31, 2005 | 5.62 | 0.78 | 1.19 | 1.21 | — | 1.15 | 1.12 | 1.12 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Axon Enterprise Inc., current ratio, long-term trends, comparison to sector (capital goods)
| Axon Enterprise Inc. | Capital Goods | |
|---|---|---|
| Dec 31, 2022 | 3.00 | 1.22 |
| Dec 31, 2021 | 2.65 | 1.31 |
| Dec 31, 2020 | 3.83 | 1.43 |
| Dec 31, 2019 | 3.17 | 1.17 |
| Dec 31, 2018 | 3.36 | 1.17 |
| Dec 31, 2017 | 1.90 | 1.29 |
| Dec 31, 2016 | 2.27 | 1.27 |
| Dec 31, 2015 | 4.23 | 1.26 |
| Dec 31, 2014 | 4.37 | 1.29 |
| Dec 31, 2013 | 4.21 | 1.34 |
| Dec 31, 2012 | 4.37 | 1.31 |
| Dec 31, 2011 | 3.89 | 1.29 |
| Dec 31, 2010 | 6.89 | 1.28 |
| Dec 31, 2009 | 6.23 | 1.23 |
| Dec 31, 2008 | 8.36 | 1.07 |
| Dec 31, 2007 | 7.73 | 1.08 |
| Dec 31, 2006 | 3.07 | 1.05 |
| Dec 31, 2005 | 5.62 | 1.03 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Axon Enterprise Inc., current ratio, long-term trends, comparison to industry (industrials)
| Axon Enterprise Inc. | Industrials | |
|---|---|---|
| Dec 31, 2022 | 3.00 | 1.20 |
| Dec 31, 2021 | 2.65 | 1.29 |
| Dec 31, 2020 | 3.83 | 1.41 |
| Dec 31, 2019 | 3.17 | 1.16 |
| Dec 31, 2018 | 3.36 | 1.13 |
| Dec 31, 2017 | 1.90 | 1.24 |
| Dec 31, 2016 | 2.27 | 1.22 |
| Dec 31, 2015 | 4.23 | 1.24 |
| Dec 31, 2014 | 4.37 | 1.26 |
| Dec 31, 2013 | 4.21 | 1.33 |
| Dec 31, 2012 | 4.37 | 1.30 |
| Dec 31, 2011 | 3.89 | 1.30 |
| Dec 31, 2010 | 6.89 | 1.28 |
| Dec 31, 2009 | 6.23 | 1.23 |
| Dec 31, 2008 | 8.36 | 1.06 |
| Dec 31, 2007 | 7.73 | 1.07 |
| Dec 31, 2006 | 3.07 | 1.05 |
| Dec 31, 2005 | 5.62 | 1.05 |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).