Stock Analysis on Net
Stock Analysis on Net

Axon Enterprise Inc. (NASDAQ:AXON)

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

Total Asset Turnover 
since 2005

Microsoft Excel

Calculation

Axon Enterprise Inc., total asset turnover, long-term trends, calculation

Microsoft Excel
Total asset turnover = Net sales1 ÷ Total assets1
Dec 31, 2022 0.42 = 1,189,935 ÷ 2,851,894
Dec 31, 2021 0.51 = 863,381 ÷ 1,688,210
Dec 31, 2020 0.49 = 681,003 ÷ 1,381,023
Dec 31, 2019 0.63 = 530,860 ÷ 845,639
Dec 31, 2018 0.58 = 420,068 ÷ 719,540
Dec 31, 2017 1.02 = 343,798 ÷ 338,112
Dec 31, 2016 0.96 = 268,245 ÷ 278,163
Dec 31, 2015 0.86 = 197,892 ÷ 229,881
Dec 31, 2014 0.89 = 164,525 ÷ 185,368
Dec 31, 2013 0.93 = 137,831 ÷ 148,382
Dec 31, 2012 0.99 = 114,753 ÷ 116,236
Dec 31, 2011 0.86 = 90,028 ÷ 104,963
Dec 31, 2010 0.64 = 86,930 ÷ 136,187
Dec 31, 2009 0.75 = 104,252 ÷ 138,426
Dec 31, 2008 0.71 = 92,845 ÷ 130,016
Dec 31, 2007 0.73 = 100,727 ÷ 137,763
Dec 31, 2006 0.57 = 67,718 ÷ 119,838
Dec 31, 2005 0.42 = 47,694 ÷ 112,338

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

Net Sales

Net sales exhibited a generally upward trajectory over the period analyzed, rising from approximately $47.7 million in 2005 to nearly $1.19 billion by 2022. This represents a significant growth, with occasional fluctuations such as a small decline observed between 2007 and 2008 and again around 2009 to 2010. However, from 2012 onward, net sales showed consistent growth year-over-year, particularly accelerating after 2016 where sales more than doubled by 2022.

Total Assets

Total assets also increased substantially, starting just above $112 million in 2005 and reaching nearly $2.85 billion in 2022. The asset base experienced moderate growth initially but saw a marked increase from 2017 onward. Notably, asset levels jumped sharply between 2017 and 2018, and again from 2019 to 2022, effectively more than quadrupling in that later timeframe. There was a temporary dip between 2010 and 2011, but the long-term trend remained strongly positive.

Total Asset Turnover

Total asset turnover, which measures the efficiency of assets in generating net sales, displayed variability throughout the years. Early years showed a moderate increase in this ratio from 0.42 in 2005 to a peak around 1.02 in 2017, indicating improving efficiency over that period. However, after 2017, the ratio declined consistently, falling to 0.42 by 2022, the same level as at the beginning of the timeframe analyzed. This suggests that despite higher sales and asset growth, the efficiency in asset utilization decreased significantly in the later years.

Summary

The data reflects robust expansion in both net sales and total assets, illustrating significant growth and investment over the analyzed period. Nonetheless, the declining total asset turnover ratio in recent years indicates that asset growth outpaced sales growth, resulting in reduced asset efficiency. This trend may warrant closer examination to understand the drivers of asset accumulation and its impact on operational performance.

Comparison to Competitors

Axon Enterprise Inc., total asset turnover, 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.
Dec 31, 2022 0.42 0.49 0.69 0.59 0.39 0.57 1.25 0.42
Dec 31, 2021 0.51 0.45 0.58 0.58 0.36 0.53 1.32 0.40
Dec 31, 2020 0.49 0.38 0.50 0.56 0.29 0.51 1.29 0.35
Dec 31, 2019 0.63 0.57 0.65 0.65 0.33 0.63 1.26 0.55
Dec 31, 2018 0.58 0.86 0.66 0.70 0.37 0.72 1.20 0.50
Dec 31, 2017 1.02 1.01 0.55 0.63 0.30 0.68 1.10 0.62
Dec 31, 2016 0.96 1.05 0.48 0.65 0.30 0.73 0.99 0.64
Dec 31, 2015 0.86 1.02 0.56 0.67 0.21 0.78 0.94 0.64
Dec 31, 2014 0.89 0.91 0.62 0.67 0.16 0.89 1.23 0.71
Dec 31, 2013 0.93 0.93 0.62 0.62 0.15 0.86 1.25 0.69
Dec 31, 2012 0.99 0.92 0.71 0.46 0.15 0.90 1.22 0.65
Dec 31, 2011 0.86 0.86 0.70 0.90 0.13 0.92 1.23 0.95
Dec 31, 2010 0.64 0.94 0.62 0.79 0.13 0.88 1.31 0.93
Dec 31, 2009 0.75 1.10 0.49 0.73 0.13 0.86 1.29 0.94
Dec 31, 2008 0.71 1.13 0.71 0.92 0.14 1.03 1.28 1.03
Dec 31, 2007 0.73 1.13 0.75 0.97 0.13 1.02 1.45 0.99
Dec 31, 2006 0.57 1.19 0.76 1.08 0.14 1.01 1.40 1.00
Dec 31, 2005 0.42 0.91 0.72 1.09 0.14 0.86 1.34 0.92

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., total asset turnover, long-term trends, comparison to sector (capital goods)

Microsoft Excel
Axon Enterprise Inc. Capital Goods
Dec 31, 2022 0.42 0.54
Dec 31, 2021 0.51 0.50
Dec 31, 2020 0.49 0.43
Dec 31, 2019 0.63 0.54
Dec 31, 2018 0.58 0.58
Dec 31, 2017 1.02 0.54
Dec 31, 2016 0.96 0.54
Dec 31, 2015 0.86 0.46
Dec 31, 2014 0.89 0.41
Dec 31, 2013 0.93 0.39
Dec 31, 2012 0.99 0.38
Dec 31, 2011 0.86 0.36
Dec 31, 2010 0.64 0.34
Dec 31, 2009 0.75 0.33
Dec 31, 2008 0.71 0.35
Dec 31, 2007 0.73 0.34
Dec 31, 2006 0.57 0.36
Dec 31, 2005 0.42 0.33

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., total asset turnover, long-term trends, comparison to industry (industrials)

Microsoft Excel
Axon Enterprise Inc. Industrials
Dec 31, 2022 0.42 0.66
Dec 31, 2021 0.51 0.58
Dec 31, 2020 0.49 0.50
Dec 31, 2019 0.63 0.62
Dec 31, 2018 0.58 0.67
Dec 31, 2017 1.02 0.62
Dec 31, 2016 0.96 0.61
Dec 31, 2015 0.86 0.54
Dec 31, 2014 0.89 0.49
Dec 31, 2013 0.93 0.47
Dec 31, 2012 0.99 0.46
Dec 31, 2011 0.86 0.45
Dec 31, 2010 0.64 0.41
Dec 31, 2009 0.75 0.39
Dec 31, 2008 0.71 0.43
Dec 31, 2007 0.73 0.41
Dec 31, 2006 0.57 0.43
Dec 31, 2005 0.42 0.40

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).