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.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Axon Enterprise Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Activity Ratio
Total Asset Turnover
Reported 0.42 0.51 0.49 0.63 0.58
Adjusted 0.50 0.66 0.56 0.68 0.67
Liquidity Ratio
Current Ratio
Reported 3.00 2.65 3.83 3.17 3.36
Adjusted 7.48 7.41 10.74 8.14 9.64
Solvency Ratios
Debt to Equity
Reported 0.53 0.00 0.00 0.00 0.00
Adjusted 0.42 0.02 0.02 0.01 0.02
Debt to Capital
Reported 0.35 0.00 0.00 0.00 0.00
Adjusted 0.29 0.02 0.02 0.01 0.02
Financial Leverage
Reported 2.25 1.61 1.41 1.56 1.54
Adjusted 1.57 1.13 1.11 1.13 1.13
Profitability Ratios
Net Profit Margin
Reported 12.37% -6.95% -0.25% 0.17% 6.95%
Adjusted 23.62% 3.51% 6.97% 3.23% 16.37%
Return on Equity (ROE)
Reported 11.60% -5.73% -0.18% 0.16% 6.25%
Adjusted 18.46% 2.65% 4.33% 2.47% 12.33%
Return on Assets (ROA)
Reported 5.16% -3.56% -0.12% 0.10% 4.06%
Adjusted 11.79% 2.33% 3.91% 2.19% 10.90%

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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Axon Enterprise Inc. adjusted total asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Axon Enterprise Inc. adjusted current ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Axon Enterprise Inc. adjusted debt-to-equity ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Axon Enterprise Inc. adjusted debt-to-capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Axon Enterprise Inc. adjusted financial leverage ratio increased from 2020 to 2021 and from 2021 to 2022.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Axon Enterprise Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Axon Enterprise Inc. adjusted ROE deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Axon Enterprise Inc. adjusted ROA deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Axon Enterprise Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net sales 1,189,935 863,381 681,003 530,860 420,068
Total assets 2,851,894 1,688,210 1,381,023 845,639 719,540
Activity Ratio
Total asset turnover1 0.42 0.51 0.49 0.63 0.58
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net sales2 1,346,663 1,039,512 750,384 555,227 476,219
Adjusted total assets3 2,697,204 1,563,220 1,337,358 819,518 714,852
Activity Ratio
Adjusted total asset turnover4 0.50 0.66 0.56 0.68 0.67

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).

1 2022 Calculation
Total asset turnover = Net sales ÷ Total assets
= 1,189,935 ÷ 2,851,894 = 0.42

2 Adjusted net sales. See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted total asset turnover = Adjusted net sales ÷ Adjusted total assets
= 1,346,663 ÷ 2,697,204 = 0.50

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Axon Enterprise Inc. adjusted total asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Current assets 1,805,278 1,109,490 981,952 619,091 558,155
Current liabilities 602,646 418,521 256,331 195,566 166,011
Liquidity Ratio
Current ratio1 3.00 2.65 3.83 3.17 3.36
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted current assets2 1,807,454 1,111,693 984,057 620,658 560,037
Adjusted current liabilities3 241,798 150,108 91,603 76,226 58,097
Liquidity Ratio
Adjusted current ratio4 7.48 7.41 10.74 8.14 9.64

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).

1 2022 Calculation
Current ratio = Current assets ÷ Current liabilities
= 1,805,278 ÷ 602,646 = 3.00

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2022 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 1,807,454 ÷ 241,798 = 7.48

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Axon Enterprise Inc. adjusted current ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total debt 673,967 — — — —
Stockholders’ equity 1,268,491 1,047,849 976,255 543,495 467,324
Solvency Ratio
Debt to equity1 0.53 0.00 0.00 0.00 0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 717,467 26,979 24,383 10,609 12,777
Adjusted stockholders’ equity3 1,722,653 1,377,804 1,209,189 725,004 632,190
Solvency Ratio
Adjusted debt to equity4 0.42 0.02 0.02 0.01 0.02

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).

1 2022 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 673,967 ÷ 1,268,491 = 0.53

2 Adjusted total debt. See details »

3 Adjusted stockholders’ equity. See details »

4 2022 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted stockholders’ equity
= 717,467 ÷ 1,722,653 = 0.42

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Axon Enterprise Inc. adjusted debt-to-equity ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total debt 673,967 — — — —
Total capital 1,942,458 1,047,849 976,255 543,495 467,324
Solvency Ratio
Debt to capital1 0.35 0.00 0.00 0.00 0.00
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total debt2 717,467 26,979 24,383 10,609 12,777
Adjusted total capital3 2,440,120 1,404,783 1,233,572 735,613 644,967
Solvency Ratio
Adjusted debt to capital4 0.29 0.02 0.02 0.01 0.02

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).

1 2022 Calculation
Debt to capital = Total debt ÷ Total capital
= 673,967 ÷ 1,942,458 = 0.35

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2022 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 717,467 ÷ 2,440,120 = 0.29

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Axon Enterprise Inc. adjusted debt-to-capital ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Total assets 2,851,894 1,688,210 1,381,023 845,639 719,540
Stockholders’ equity 1,268,491 1,047,849 976,255 543,495 467,324
Solvency Ratio
Financial leverage1 2.25 1.61 1.41 1.56 1.54
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted total assets2 2,697,204 1,563,220 1,337,358 819,518 714,852
Adjusted stockholders’ equity3 1,722,653 1,377,804 1,209,189 725,004 632,190
Solvency Ratio
Adjusted financial leverage4 1.57 1.13 1.11 1.13 1.13

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).

1 2022 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 2,851,894 ÷ 1,268,491 = 2.25

2 Adjusted total assets. See details »

3 Adjusted stockholders’ equity. See details »

4 2022 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= 2,697,204 ÷ 1,722,653 = 1.57

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Axon Enterprise Inc. adjusted financial leverage ratio increased from 2020 to 2021 and from 2021 to 2022.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net income (loss) 147,139 (60,018) (1,724) 882 29,205
Net sales 1,189,935 863,381 681,003 530,860 420,068
Profitability Ratio
Net profit margin1 12.37% -6.95% -0.25% 0.17% 6.95%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)2 318,057 36,461 52,308 17,940 77,943
Adjusted net sales3 1,346,663 1,039,512 750,384 555,227 476,219
Profitability Ratio
Adjusted net profit margin4 23.62% 3.51% 6.97% 3.23% 16.37%

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).

1 2022 Calculation
Net profit margin = 100 × Net income (loss) ÷ Net sales
= 100 × 147,139 ÷ 1,189,935 = 12.37%

2 Adjusted net income (loss). See details »

3 Adjusted net sales. See details »

4 2022 Calculation
Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Adjusted net sales
= 100 × 318,057 ÷ 1,346,663 = 23.62%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Axon Enterprise Inc. adjusted net profit margin ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net income (loss) 147,139 (60,018) (1,724) 882 29,205
Stockholders’ equity 1,268,491 1,047,849 976,255 543,495 467,324
Profitability Ratio
ROE1 11.60% -5.73% -0.18% 0.16% 6.25%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)2 318,057 36,461 52,308 17,940 77,943
Adjusted stockholders’ equity3 1,722,653 1,377,804 1,209,189 725,004 632,190
Profitability Ratio
Adjusted ROE4 18.46% 2.65% 4.33% 2.47% 12.33%

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).

1 2022 Calculation
ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × 147,139 ÷ 1,268,491 = 11.60%

2 Adjusted net income (loss). See details »

3 Adjusted stockholders’ equity. See details »

4 2022 Calculation
Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × 318,057 ÷ 1,722,653 = 18.46%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Axon Enterprise Inc. adjusted ROE deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Reported
Selected Financial Data (US$ in thousands)
Net income (loss) 147,139 (60,018) (1,724) 882 29,205
Total assets 2,851,894 1,688,210 1,381,023 845,639 719,540
Profitability Ratio
ROA1 5.16% -3.56% -0.12% 0.10% 4.06%
Adjusted
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)2 318,057 36,461 52,308 17,940 77,943
Adjusted total assets3 2,697,204 1,563,220 1,337,358 819,518 714,852
Profitability Ratio
Adjusted ROA4 11.79% 2.33% 3.91% 2.19% 10.90%

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).

1 2022 Calculation
ROA = 100 × Net income (loss) ÷ Total assets
= 100 × 147,139 ÷ 2,851,894 = 5.16%

2 Adjusted net income (loss). See details »

3 Adjusted total assets. See details »

4 2022 Calculation
Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × 318,057 ÷ 2,697,204 = 11.79%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Axon Enterprise Inc. adjusted ROA deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.