Why did Axon Enterprise (AXON) stock move recently?

On 9/15/2026, Axon Enterprise moved -9.0% — Axon Enterprise fell after announcing a $1.0 billion offering of 0% convertible senior notes due 2031, plus a $150 million over-allotment option, with proceeds earmarked for capped call transactions and general corporate purposes. Convertible issuance of this size carries potential dilution for existing holders. This is MarketChacha's decoded reason from filings and credible news; it is education, not buy/sell advice.

Is Axon Enterprise (AXON) overvalued or fairly valued?

MarketChacha shows Axon Enterprise's valuation in context — a trailing P/E of about 139.2, a forward P/E of about 37.4, a price-to-book of about 8.7 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Axon Enterprise's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.19×) from reported figures — education, not a rating.

What is Axon Enterprise's revenue?

Axon Enterprise reported revenue of $2.8B for FY2025, with net profit of $124.7M, per official filings.

What is the share price of Axon Enterprise (AXON)?

Axon Enterprise last traded at $392.64 (+2.5% on the day), as of 10/20/2026 — a delayed quote shown for education, not investment advice.

Axon Enterprise

AXON · NYSE · Industrials · United States

Snapshot

TickerAXON

ExchangeNYSE

SectorIndustrials

IndustryAerospace & Defense

CountryUnited States

Employees5,100

HeadquartersScottsdale, United States

Websitewww.axon.com

Filings tracked20

About Axon Enterprise

Axon Enterprise, Inc. provides public safety technology solutions in the United States and internationally. The company operates in two segments, Software and Services, and Connected Devices. The Software and Services segment develops, manufactures, and sells cloud-based software-as-a-service solutions to capture, store, manage, share, and analyze video and other digital evidence. This segment also offers Axon Evidence, Draft One, Axon Records, Axon Standards, Axon Fusus, Axon Assistant, and others. The Connected Devices segment engages in the development, manufacture, and sale of integrated hardware solutions, such as conducted energy devices under the TASER brand, body cameras, fixed and in-car cameras, drone and counter-drone technologies, accessories, extended warranties, and related hardware products, as well as virtual reality training hardware. The company serves first responders across international, federal, state, and local governments, international governmental entities, commercial enterprises, and consumers through direct sales, distribution partners, and third-party resellers. The company was formerly known as TASER International, Inc. and changed its name to Axon Enterprise, Inc. in April 2017. Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona.

Who owns it

Insiders4.5%
Institutions91.0%
Public & other4.5%

1,588 institutional holders

Ownership breakdown from public market data.

Top holders

Blackrock Inc.10.26%
Vanguard Capital Management LLC6.32%
State Street Corporation4.78%
Vanguard Portfolio Management LLC4.54%
Invesco Ltd.3.97%
BAILLIE GIFFORD & CO3.77%
FMR, LLC3.72%
Geode Capital Management, LLC2.85%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

Margin has compressed by about 6.8 points over the period — profitability is trending down.

Cash conversion1.19×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend11.3% → 4.5%

Margin has compressed by about 6.8 points over the period — profitability is trending down.

Return on equity3.8%

Latest ROE of 3.8% is on the low side — the business earns a modest return on shareholder capital.

Growth qualityrev 33% · PAT -16%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $1.1B · EPS 2.28

Est. earnings growth +6.2%

Next fiscal year

Rev $4.8B · EPS 10.51

Est. earnings growth +37.5%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$2.8B

Net margin

4.5%

ROE

3.8%

Revenue CAGR (2y)

+33.5%

Profit CAGR (2y)

-15.8%

EPS (FY2025)

1.51

Net profit (FY2025)

$124.7M

Ask MarketChacha about AXON

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Why it moved

Sep 15, 2026
Axon Enterprise fell after announcing a $1.0 billion offering of 0% convertible senior notes due 2031, plus a $150 million over-allotment option, with proceeds earmarked for capped call transactions and general corporate purposes. Convertible issuance of this size carries potential dilution for existing holders.
source 1 ↗source 2 ↗· confidence: high
Sep 1, 2026
AXON fell sharply as rising Treasury yields pressured high-valuation growth stocks, extending a post-Q2 earnings pullback where strong revenue growth and raised full-year guidance were overshadowed by flat adjusted EBITDA margin outlook (~25.5%) and ongoing margin/investment scrutiny.
source 1 ↗source 2 ↗· confidence: high
Aug 4, 2026
Axon shares rose ahead of its scheduled Q2 2026 earnings release after market close on August 5, with investors positioning on the company's prior growth momentum in software, AI, and counter-drone products and raised full-year outlook.
source 1 ↗source 2 ↗source 3 ↗· confidence: medium
Jul 28, 2026
Axon Enterprise shares rose 4.22% with no specific company catalyst reported on July 28; the move appears to reflect broader momentum and positive sentiment around AI growth and recent analyst commentary.
· confidence: low
Jul 27, 2026
No specific company catalyst or filing today; AXON rose as one of several S&P 500 stocks gapping higher on the session, consistent with broader market/sector momentum ahead of its Aug 5 earnings.
source 1 ↗· confidence: low
Jul 22, 2026
No clear company-specific catalyst in filings or credible coverage; the stock declined despite broader market gains amid general commentary on margin pressures and costs.
source 1 ↗source 2 ↗· confidence: low

Daily moves with the verified reason behind them. Education only — not investment advice.

On MarketChacha

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Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$2.8B	$124.7M	1.51	4.5%	3.8%
FY2024	$2.1B	$377.0M	4.80	18.1%	16.2%
FY2023	$1.6B	$175.8M	2.33	11.3%	10.9%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$904.4M	$29.4M	0.36	3.3%
2026Q1	$807.3M	$169.3M	2.05	21.0%
2025Q3	$710.6M	$-2.2M	-0.03	-0.3%
2025Q2	$668.5M	$36.1M	0.44	5.4%
2025Q1	$603.6M	$88.0M	1.08	14.6%
2024Q3	$544.3M	$67.0M	0.86	12.3%
2024Q2	$503.2M	$41.5M	0.53	8.2%
2024Q1	$459.9M	$133.4M	1.73	29.0%
2023Q4	$430.4M	$57.1M	0.75	13.3%
2023Q3	$413.3M	$61.3M	0.81	14.8%
2023Q2	$372.7M	$11.5M	0.15	3.1%
2023Q1	$344.3M	$45.9M	0.62	13.3%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

10-Q filing
SEC8/6/2026
8-K — Results of operations, Exhibits
SEC8/5/2026material
8-K — Executive/director change
SEC7/10/2026material
8-K — Shareholder vote results, Exhibits
SEC6/1/2026material
10-Q filing
SEC5/7/2026
8-K — Results of operations, Exhibits
SEC5/6/2026material
8-K — Executive/director change
SEC4/10/2026material
8-K — Executive/director change
SEC3/11/2026material
10-K filing
SEC2/25/2026
8-K — Results of operations, Exhibits
SEC2/24/2026material
8-K — Other events, Exhibits
SEC2/13/2026material
8-K/A — Other events, Exhibits
SEC2/4/2026

2025

8-K — Other events, Exhibits
SEC12/18/2025material
8-K/A — Unregistered equity sale, Other events, Exhibits
SEC12/17/2025
8-K — Unregistered equity sale, Other events, Exhibits
SEC12/10/2025material
10-Q filing
SEC11/5/2025
8-K — Results of operations, Exhibits
SEC11/4/2025material
8-K — Executive/director change
SEC9/2/2025material
10-Q filing
SEC8/5/2025
8-K — Results of operations, Exhibits
SEC8/4/2025material

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.