Operating Profit Margin
since 2005
Calculation
Axon Enterprise Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Income (loss) from operations1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 7.84% | = | 100 | × | 93,253) | ÷ | 1,189,935) |
| Dec 31, 2021 | -19.47% | = | 100 | × | (168,123) | ÷ | 863,381) |
| Dec 31, 2020 | -2.08% | = | 100 | × | (14,150) | ÷ | 681,003) |
| Dec 31, 2019 | -1.20% | = | 100 | × | (6,394) | ÷ | 530,860) |
| Dec 31, 2018 | 5.91% | = | 100 | × | 24,841) | ÷ | 420,068) |
| Dec 31, 2017 | 3.79% | = | 100 | × | 13,023) | ÷ | 343,798) |
| Dec 31, 2016 | 11.87% | = | 100 | × | 31,851) | ÷ | 268,245) |
| Dec 31, 2015 | 17.86% | = | 100 | × | 35,335) | ÷ | 197,892) |
| Dec 31, 2014 | 19.76% | = | 100 | × | 32,505) | ÷ | 164,525) |
| Dec 31, 2013 | 20.28% | = | 100 | × | 27,948) | ÷ | 137,831) |
| Dec 31, 2012 | 19.63% | = | 100 | × | 22,529) | ÷ | 114,753) |
| Dec 31, 2011 | -12.13% | = | 100 | × | (10,916) | ÷ | 90,028) |
| Dec 31, 2010 | -5.91% | = | 100 | × | (5,140) | ÷ | 86,930) |
| Dec 31, 2009 | -0.08% | = | 100 | × | (79) | ÷ | 104,252) |
| Dec 31, 2008 | 5.63% | = | 100 | × | 5,225) | ÷ | 92,845) |
| Dec 31, 2007 | 20.23% | = | 100 | × | 20,374) | ÷ | 100,727) |
| Dec 31, 2006 | -10.12% | = | 100 | × | (6,856) | ÷ | 67,718) |
| Dec 31, 2005 | 3.25% | = | 100 | × | 1,551) | ÷ | 47,694) |
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
The operating profit margin from 2005 to 2022 exhibits significant volatility, characterized by alternating periods of profitability and operational losses, alongside a consistent long-term increase in net sales.
- Initial Volatility (2005–2011)
- The early period is marked by unstable operational performance. Operating margins fluctuated sharply, moving from 3.25% in 2005 to a low of -10.12% in 2006, followed by a peak of 20.23% in 2007. This instability continued through 2011, where the margin declined to -12.13%, reflecting inconsistent operating income relative to sales during this timeframe.
- Period of Sustained Profitability (2012–2015)
- A phase of operational stability and high efficiency was observed between 2012 and 2015. During these years, operating profit margins remained consistently high, peaking at 20.28% in 2013 and maintaining a range between 17.86% and 20.28%. This period aligns with a steady increase in net sales, suggesting a successful scaling of operations.
- Margin Compression and Operational Losses (2016–2021)
- Starting in 2016, a downward trend in operating margins emerged. The margin decreased from 11.87% in 2016 to 3.79% in 2017. Despite net sales growing from 268.2 million in 2016 to 863.4 million in 2021, the operating profit margin turned negative in 2019 (-1.20%) and deteriorated sharply to -19.47% by 2021. This divergence indicates that operating expenses grew at a significantly faster rate than revenue during this expansion phase.
- Recent Recovery (2022)
- A significant operational turnaround occurred in 2022. The operating profit margin returned to positive territory at 7.84%, coinciding with the highest recorded net sales of 1.19 billion. This shift suggests a correction in the cost structure or a realization of economies of scale following the period of heavy operational losses.
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Comparison to Competitors
Axon Enterprise Inc., operating profit margin, long-term trends, comparison to competitors
| Axon Enterprise Inc. | Boeing Co. | Caterpillar Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 7.84% | -5.33% | 13.97% | 12.65% | 8.07% |
| Dec 31, 2021 | -19.47% | -4.66% | 14.27% | 13.61% | 7.70% |
| Dec 31, 2020 | -2.08% | -21.95% | 11.67% | 13.22% | -3.34% |
| Dec 31, 2019 | -1.20% | -2.58% | 16.33% | 14.29% | 11.64% |
| Dec 31, 2018 | 5.91% | 11.85% | 16.00% | 13.64% | 12.86% |
| Dec 31, 2017 | 3.79% | 11.01% | 10.32% | 11.60% | 14.49% |
| Dec 31, 2016 | 11.87% | 6.17% | 1.39% | 11.74% | 14.28% |
| Dec 31, 2015 | 17.86% | 7.74% | 7.38% | 11.78% | 13.00% |
| Dec 31, 2014 | 19.76% | 8.23% | 10.22% | 12.26% | 15.01% |
| Dec 31, 2013 | 20.28% | 7.58% | 10.68% | 9.93% | 14.70% |
| Dec 31, 2012 | 19.63% | 7.72% | 13.59% | 9.40% | 13.32% |
| Dec 31, 2011 | -12.13% | 8.50% | 12.46% | 8.56% | 13.92% |
| Dec 31, 2010 | -5.91% | 7.73% | 9.94% | 8.94% | 13.23% |
| Dec 31, 2009 | -0.08% | 3.07% | 1.95% | 9.88% | 12.33% |
| Dec 31, 2008 | 5.63% | 6.49% | 9.26% | 12.01% | 13.14% |
| Dec 31, 2007 | 20.23% | 8.78% | 11.73% | 10.81% | 13.08% |
| Dec 31, 2006 | -10.12% | 4.90% | 12.66% | 9.98% | 12.94% |
| Dec 31, 2005 | 3.25% | 5.13% | 11.13% | 8.02% | 12.26% |
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).