Stock Analysis on Net
Stock Analysis on Net

Axon Enterprise Inc. (NASDAQ:AXON)

$22.49

This company has been moved to the archive! The financial data has not been updated since May 9, 2023.

Return on Equity (ROE)
since 2005

Microsoft Excel

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Calculation

Axon Enterprise Inc., ROE, long-term trends, calculation

Microsoft Excel
ROE = 100 × Net income (loss)1 ÷ Stockholders’ equity1
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Dec 31, 2005 = 100 × ÷

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 financial performance over the analyzed period exhibits significant fluctuations in net income and return on equity (ROE), alongside a general upward trend in stockholders' equity.

Net Income (Loss)
The net income shows considerable volatility throughout the years. Initially, the company had a positive net income of $1,063 thousand in 2005, followed by a sharp loss of $4,088 thousand in 2006. A strong recovery occurred in 2007 with net income rising to $15,026 thousand, but this was followed by fluctuations including losses in 2009, 2010, and 2011. From 2012 onward, the company mostly reported positive net income, peaking at $29,205 thousand in 2018. However, 2021 saw a substantial loss of $60,018 thousand, before rebounding dramatically to $147,139 thousand in 2022. This pattern suggests periods of instability or significant one-time events impacting profitability, as well as a strong recovery capability.
Stockholders’ Equity
Stockholders' equity has shown robust growth over the period. Starting at $103,866 thousand in 2005, equity levels fluctuated mildly until 2011, when a decline to $82,456 thousand was observed. From 2012 onwards, there was a marked and consistent increase, reaching $1,268,491 thousand in 2022. This steady accumulation of equity indicates successful capital retention and potentially new capital infusions or retained earnings despite the income volatility.
Return on Equity (ROE)
ROE reflects the variable profitability relative to equity. It ranged from a low of -8.54% in 2011 to a high of 16.88% in 2012. After a period of strong positive returns through the early 2010s, ROE declined to near zero and negative values around 2019 to 2021, corresponding with the net losses reported during those years. The recovery to 11.6% ROE in 2022 aligns with the large net income rebound, illustrating improved operational efficiency or profitable usage of equity capital.

In conclusion, the data reveals a company experiencing periods of financial instability and losses early in and around the 2010s, followed by growth in equity and earnings recovery in recent years. The large swings in net income and ROE, including the sharp loss in 2021 and subsequent strong rebound, suggest susceptibility to volatile market conditions or significant operational events. Nevertheless, the consistent increase in stockholders' equity over time positions the company with a stronger capital base to support future operations and potential growth initiatives.

Comparison to Competitors

Axon Enterprise Inc., ROE, long-term trends, comparison to competitors

Microsoft Excel
Axon Enterprise Inc. Boeing Co. Caterpillar Inc. Eaton Corp. plc GE Aerospace Honeywell International Inc. Lockheed Martin Corp. RTX Corp.
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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., ROE, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Axon Enterprise Inc. Capital Goods
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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., ROE, long-term trends, comparison to industry (industrials)

Microsoft Excel
Axon Enterprise Inc. Industrials
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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).