Company Valuation: Axon Enterprise, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,749 11,808 19,358 45,320 45,115 34,941 - -
Change - 9.85% 63.93% 134.12% -0.45% -22.55% - -
Enterprise Value (EV) 1 10,306 10,834 18,714 45,014 43,462 35,793 35,213 34,300
Change - 5.12% 72.74% 140.53% -3.45% -17.64% -1.62% -2.59%
P/E -173x 81.7x 112x 124x 376x 124x 100x 50.9x
PBR 10.6x 9.35x 12.1x 19.6x 14x 8.67x 7.15x 5.76x
PEG - -0x 8.1x 1x -5.5x 1x 4.2x 0.5x
Capitalization / Revenue 12.5x 9.92x 12.4x 21.8x 16.2x 9.43x 7.29x 5.63x
EV / Revenue 11.9x 9.1x 12x 21.6x 15.6x 9.66x 7.35x 5.53x
EV / EBITDA 57.9x 46.6x 56.8x 86.3x 61.2x 37.7x 27.5x 19.9x
EV / EBIT -61.3x 116x 121x 769x -700x 191x 71.6x 42.6x
EV / FCF 138x 60.3x 144x 137x 579x 90.9x 45.5x 32.6x
FCF Yield 0.72% 1.66% 0.69% 0.73% 0.17% 1.1% 2.2% 3.07%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.91 2.03 2.31 4.8 1.51 3.467 4.302 8.444
Distribution rate - - - - - - - -
Net sales 1 863.4 1,190 1,563 2,083 2,780 3,704 4,790 6,205
EBITDA 1 178.1 232.3 329.3 521.4 710.2 948.5 1,281 1,727
EBIT 1 -168.1 93.25 154.8 58.54 -62.08 187.4 491.7 805.2
Net income 1 -60.02 147.1 174.2 377 124.7 291.9 403.7 643.2
Net Debt 1 -443 -974.7 -643.4 -306.1 -1,653 851.8 271.7 -641.3
Reference price 2 157.00 165.93 258.33 594.32 567.93 430.11 430.11 430.11
Nbr of stocks (in thousands) 68,468 71,165 74,934 76,255 79,437 81,237 - -
Announcement Date 2/24/22 2/28/23 2/27/24 2/25/25 2/24/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
38.32x6.92x28.97x0.55% 339B
31.41x2.94x17.43x1.51% 255B
34.95x5.09x21.36x0.98% 163B
17.05x1.65x11.9x2.7% 120B
19.82x1.68x13.76x1.87% 90.96B
25.73x1.83x12.75x2.01% 73.85B
17.59x1.85x13.13x1.9% 72.53B
28.79x3.16x13.9x1.43% 52.25B
Average 26.71x 3.14x 16.65x 1.62% 145.87B
Weighted average by Cap. 30.20x 4.04x 19.76x 1.36%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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