Axon Enterprise, Inc.

AXONNASDAQIndustrials● Active

$482.01

$-4.11(-0.85%)

Market Cap$38.9B

P/E Ratio—

52W High$885.92

52W Low$339.01

Avg Volume1.1M

Open$491.27

Beta1.42

Free Cash Flow Financials Revenue

Axon Enterprise, Inc. (AXON) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AXON · free cash flow · updated Jun 8, 2026

Core FCF metrics

AXON · FCF · TTM · margin & CAGR

Free cash flow was $75.1M for FY2025 (fiscal year ending 2025-12-31), down 77.2% year-over-year The FCF margin was 2.7%.

FY2025 Free Cash Flow$75.1M▼ -77.2% YoY

Trailing 12M (TTM)$19.5Mtrailing 4 quarters sum

FCF Margin2.7%$75.1M ÷ revenue

3-Year CAGR-25.2%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AXON · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$211.3M(136M)$75.1M▼ 77.2%2.7%

FY2024$408.3M(79M)$329.5M▲ +155.5%15.8%

FY2023$189.3M(60M)$129.0M▼ 28.0%8.3%

FY2022$235.4M(56M)$179.3M▲ +141.5%15.1%

FY2021$124.5M(50M)$74.2M▲ +315.8%8.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AXON · P/FCF · FCF yield · FCF per share

Axon Enterprise, Inc. (AXON) trades at a FCF yield of 0.05% and a price-to-free-cash-flow ratio of 2008.4x. FCF per share stands at $0.24, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

0.05%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.24

TTM FCF ÷ Shares Outstanding

Price / FCF

x2008.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x2078.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

AXON · cash flow statement · operating / investing / financing

For FY2025, Axon Enterprise, Inc. generated $211.3M in operating cash flow and spent 136M in capital expenditures, yielding $75.1M in free cash flow.

Operating Activities

+$211.3M

Cash from core business operations

2025-12-31

Investing Activities

−$724.9M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$1.25B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($211.3M) − |CapEx| (136M) = FCF ($75.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

AXON vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Axon Enterprise, Inc.YOU

AXON

$75.1M-77.2%2.7%

Union Pacific Corporation

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Axon Enterprise, Inc. (AXON) reported free cash flow of $75.1M for FY2025 (fiscal year ending 2025-12-31), down 77.2% year-over-year. The FCF margin was 2.7%.

Based on available data, Axon Enterprise, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $329.5M in FY2024.

Axon Enterprise, Inc.'s FCF yield is 0.05% and price-to-FCF ratio is 2008.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AXON free cash flow · 8 questions

Axon Enterprise, Inc. free cash flow was $75.1M for FY2025, down 77.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $19.5M.

AXON free cash flowAXON FCFAXON FCF 2025AXON free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Axon Enterprise, Inc. · Axon Enterprise, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026