Axon Enterprise Inc., current enterprise value calculation

Current share price (P)	$226.88
No. shares of common stock outstanding	73,885,305
US$ in thousands
Common equity (market value)¹	16,763,098)
Add: Preferred stock, $0.00001 par value; no shares issued and outstanding (per books)	—)
Total equity	16,763,098)
Add: Convertible notes, net (per books)	673,967)
Total equity and debt	17,437,065)
Less: Cash and cash equivalents	353,684)
Less: Marketable securities	39,240)
Less: Short-term investments	581,769)
Enterprise value (EV)	16,462,372)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 226.88 × 73,885,305

Axon Enterprise Inc., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$200.31	$134.14	$165.49	$77.37	$55.49
No. shares of common stock outstanding¹	72,862,227	70,931,874	63,783,849	59,528,200	58,829,384
US$ in thousands
Common equity (market value)³	14,595,033)	9,514,802)	10,555,589)	4,605,697)	3,264,443)
Add: Preferred stock, $0.00001 par value; no shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Total equity	14,595,033)	9,514,802)	10,555,589)	4,605,697)	3,264,443)
Add: Convertible notes, net (book value)	673,967)	—)	—)	—)	—)
Total equity and debt	15,269,000)	9,514,802)	10,555,589)	4,605,697)	3,264,443)
Less: Cash and cash equivalents	353,684)	356,332)	155,440)	172,250)	349,462)
Less: Marketable securities	39,240)	72,180)	—)	—)	—)
Less: Short-term investments	581,769)	14,510)	406,525)	178,534)	—)
Enterprise value (EV)	14,294,307)	9,071,780)	9,993,624)	4,254,913)	2,914,981)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Axon Enterprise Inc. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 200.31 × 72,862,227

Download chart

Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Axon Enterprise Inc. EV decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Axon Enterprise Inc. (NASDAQ:AXON)

Enterprise Value (EV)