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.

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

Axon Enterprise Inc., long-term (investment) activity ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Net fixed asset turnover 7.01 6.24 6.46 12.13 11.09
Net fixed asset turnover (including operating lease, right-of-use asset) 5.71 5.34 5.33 9.94 11.09
Total asset turnover 0.42 0.51 0.49 0.63 0.58
Equity turnover 0.94 0.82 0.70 0.98 0.90

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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Axon Enterprise Inc. net fixed asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Axon Enterprise Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Axon Enterprise Inc. total asset turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Axon Enterprise Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022.

Net Fixed Asset Turnover

Axon Enterprise Inc., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Net sales 1,189,935 863,381 681,003 530,860 420,068
Property and equipment, net 169,843 138,457 105,494 43,770 37,893
Long-term Activity Ratio
Net fixed asset turnover1 7.01 6.24 6.46 12.13 11.09
Benchmarks
Net Fixed Asset Turnover, Competitors2
Boeing Co. 6.31 5.70 4.92 6.12
Caterpillar Inc. 4.70 3.99 3.15 3.93
Eaton Corp. plc 6.59 6.41 6.02 6.12
GE Aerospace 5.96 5.47 1.75 2.02
Honeywell International Inc. 6.48 6.18 5.86 6.89
Lockheed Martin Corp. 8.27 8.83 9.07 9.07
RTX Corp. 4.42 4.30 3.78 6.04
Net Fixed Asset Turnover, Sector
Capital Goods 5.79 5.46 3.55 4.23
Net Fixed Asset Turnover, Industry
Industrials 3.22 3.04 2.41 2.76

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 fixed asset turnover = Net sales ÷ Property and equipment, net
= 1,189,935 ÷ 169,843 = 7.01

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Axon Enterprise Inc. net fixed asset turnover ratio deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Axon Enterprise Inc., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Net sales 1,189,935 863,381 681,003 530,860 420,068
 
Property and equipment, net 169,843 138,457 105,494 43,770 37,893
Operating lease assets 38,370 23,270 22,308 9,653
Property and equipment, net (including operating lease, right-of-use asset) 208,213 161,727 127,802 53,423 37,893
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 5.71 5.34 5.33 9.94 11.09
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Boeing Co. 5.55 5.04 4.45 5.59
Caterpillar Inc. 4.49 3.79 3.00 3.75
Eaton Corp. plc 5.58 5.60 5.26 5.44
GE Aerospace 5.08 4.55 1.63 1.89
Honeywell International Inc. 5.58 5.28 5.15 6.12
Lockheed Martin Corp. 7.27 7.54 7.96 7.88
RTX Corp. 3.95 3.80 3.36 5.02
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Capital Goods 5.13 4.80 3.25 3.86
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Industrials 2.77 2.62 2.13 2.57

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 fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 1,189,935 ÷ 208,213 = 5.71

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Axon Enterprise Inc. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022.

Total Asset Turnover

Axon Enterprise Inc., total asset turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
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
Long-term Activity Ratio
Total asset turnover1 0.42 0.51 0.49 0.63 0.58
Benchmarks
Total Asset Turnover, Competitors2
Boeing Co. 0.49 0.45 0.38 0.57
Caterpillar Inc. 0.69 0.58 0.50 0.65
Eaton Corp. plc 0.59 0.58 0.56 0.65
GE Aerospace 0.39 0.36 0.29 0.33
Honeywell International Inc. 0.57 0.53 0.51 0.63
Lockheed Martin Corp. 1.25 1.32 1.29 1.26
RTX Corp. 0.42 0.40 0.35 0.55
Total Asset Turnover, Sector
Capital Goods 0.54 0.50 0.43 0.54
Total Asset Turnover, Industry
Industrials 0.66 0.60 0.51 0.61

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 Click competitor name to see calculations.

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

Equity Turnover

Axon Enterprise Inc., equity turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in thousands)
Net sales 1,189,935 863,381 681,003 530,860 420,068
Stockholders’ equity 1,268,491 1,047,849 976,255 543,495 467,324
Long-term Activity Ratio
Equity turnover1 0.94 0.82 0.70 0.98 0.90
Benchmarks
Equity Turnover, Competitors2
Boeing Co.
Caterpillar Inc. 3.57 2.92 2.55 3.48
Eaton Corp. plc 1.22 1.20 1.20 1.33
GE Aerospace 2.02 1.76 2.05 3.09
Honeywell International Inc. 2.12 1.85 1.86 1.98
Lockheed Martin Corp. 7.12 6.12 10.87 19.13
RTX Corp. 0.92 0.88 0.78 1.84
Equity Turnover, Sector
Capital Goods 2.54 2.28 2.39 3.60
Equity Turnover, Industry
Industrials 2.94 2.58 2.75 3.53

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
Equity turnover = Net sales ÷ Stockholders’ equity
= 1,189,935 ÷ 1,268,491 = 0.94

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Axon Enterprise Inc. equity turnover ratio improved from 2020 to 2021 and from 2021 to 2022.