Axon Enterprise, Inc.

NasdaqGS:AXON Stock Report

Market Cap: US$56.3b

Axon Enterprise Valuation

Is AXON undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AXON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$371.52
Fair Value
91.5% overvalued intrinsic discount
15
Number of Analysts

Below Fair Value: AXON ($711.34) is trading above our estimate of fair value ($371.52)

Significantly Below Fair Value: AXON is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AXON?

Key metric: As AXON is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for AXON. This is calculated by dividing AXON's market cap by their current revenue.
What is AXON's PS Ratio?
PS Ratio23.3x
SalesUS$2.39b
Market CapUS$56.34b

Price to Sales Ratio vs Peers

How does AXON's PS Ratio compare to its peers?

The above table shows the PS ratio for AXON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.9x
HEI HEICO
10.4x7.92%US$39.2b
LHX L3Harris Technologies
2.6x5.15%US$57.1b
TDG TransDigm Group
8.5x7.75%US$74.3b
HWM Howmet Aerospace
10.2x9.27%US$79.1b
AXON Axon Enterprise
23.3x22.39%US$56.3b

Price-To-Sales vs Peers: AXON is expensive based on its Price-To-Sales Ratio (23.3x) compared to the peer average (7.9x).

Price to Sales Ratio vs Industry

How does AXON's PS Ratio compare vs other companies in the US Aerospace & Defense Industry?

9 CompaniesPrice / SalesEstimated GrowthMarket Cap
SPR Spirit AeroSystems Holdings
0.7x13.73%US$4.53b
VVX V2X
0.4x4.51%US$1.84b
LLAP Terran Orbital
0.4x29.47%US$51.22m
SIF SIFCO Industries
0.5xn/aUS$43.52m
AXON 23.3xIndustry Avg. 3.1xNo. of Companies15PS03.67.210.814.418+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AXON is expensive based on its Price-To-Sales Ratio (23.3x) compared to the US Aerospace & Defense industry average (3.1x).

Price to Sales Ratio vs Fair Ratio

What is AXON's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AXON PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio23.3x
Fair PS Ratio16.1x

Price-To-Sales vs Fair Ratio: AXON is expensive based on its Price-To-Sales Ratio (23.3x) compared to the estimated Fair Price-To-Sales Ratio (16.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AXON forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$711.34
US$888.93
+24.97%
5.45%US$1,000.00US$800.00n/a15
Sep ’26US$747.29
US$873.67
+16.91%
8.47%US$1,000.00US$664.10n/a15
Aug ’26US$742.47
US$781.27
+5.23%
11.94%US$895.00US$610.00n/a15
Jul ’26US$775.38
US$721.32
-6.97%
11.97%US$895.00US$579.32n/a14
Jun ’26US$750.36
US$710.96
-5.25%
10.20%US$830.00US$579.32n/a14
May ’26US$621.10
US$665.10
+7.08%
11.64%US$800.00US$491.36n/a14
Apr ’26US$541.20
US$665.03
+22.88%
13.78%US$800.00US$413.11n/a14
Mar ’26US$528.45
US$665.03
+25.85%
13.78%US$800.00US$413.11n/a14
Feb ’26US$652.18
US$628.71
-3.60%
15.13%US$800.00US$413.11n/a16
Jan ’26US$594.32
US$610.77
+2.77%
15.13%US$800.00US$500.00n/a13
Dec ’25US$646.96
US$576.15
-10.94%
11.55%US$750.00US$500.00n/a13
Nov ’25US$425.84
US$429.92
+0.96%
12.89%US$525.00US$365.00n/a13
Oct ’25US$399.22
US$385.31
-3.48%
5.46%US$430.00US$335.00US$711.3413
Sep ’25US$364.97
US$378.00
+3.57%
4.40%US$400.00US$335.00US$747.2913
Aug ’25US$299.63
US$369.62
+23.36%
6.13%US$400.00US$320.00US$742.4713
Jul ’25US$289.21
US$367.27
+26.99%
6.50%US$400.00US$320.00US$775.3811
Jun ’25US$281.67
US$357.80
+27.03%
10.86%US$400.00US$253.58US$750.3612
May ’25US$311.57
US$328.38
+5.40%
11.21%US$400.00US$253.58US$621.1012
Apr ’25US$311.37
US$309.22
-0.69%
7.12%US$339.00US$253.58US$541.2012
Mar ’25US$314.25
US$309.22
-1.60%
7.12%US$339.00US$253.58US$528.4512
Feb ’25US$252.70
US$261.47
+3.47%
8.65%US$297.00US$233.00US$652.1812
Jan ’25US$258.33
US$249.63
-3.37%
3.84%US$265.00US$233.00US$594.3212
Dec ’24US$231.51
US$243.50
+5.18%
5.15%US$265.00US$220.00US$646.9612
Nov ’24US$207.15
US$236.42
+14.13%
3.55%US$250.00US$220.00US$425.8412
Oct ’24US$198.99
US$235.92
+18.56%
3.35%US$250.00US$220.00US$399.2212
US$888.93
Fair Value
20.0% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/01 17:18
End of Day Share Price 2025/10/01 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Axon Enterprise, Inc. is covered by 30 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William PowerBaird
Timothy LongBarclays
Jordan LyonnaisBofA Global Research