Axon Enterprise
AXON · Aerospace & Defense
$420.37
1.4%Hexcel
HXL · Aerospace & Defense
$79.62
2.0%The short version
- Axon Enterprise is the larger business, with $2.8B of revenue in fiscal 2025 against $1.9B for Hexcel.
- Axon Enterprise grew revenue faster (33.5%, against −0.5%).
- Hexcel kept more of each dollar of sales as operating profit (9.1% operating margin, against −2.2% operating margin).
- Hexcel turned more of its sales into free cash flow (8.3% FCF margin, against 2.7% FCF margin).
- Hexcel earned a higher return on the capital invested in it (6.5%, against −2.2%).
- Investors pay more for each dollar of Axon Enterprise’s earnings: a P/E of 174.4x against 35.9x for Hexcel.
| Latest fiscal year | AXON · FY25 | HXL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.7B | $6.1B |
| Revenue | $2.8B | $1.9B |
| Free cash flow | $75.1M | $157M |
| Net income | $125M | $109M |
| Growth | ||
| Revenue growth | 33.5% | −0.5% |
| 5-year growth | 32.5% | 4.7% |
| Share count change | 4.9% | −3.6% |
| Profitability | ||
| Gross margin | 59.7% | 23.0% |
| Operating margin | −2.2% | 9.1% |
| Net margin | 4.5% | 5.8% |
| FCF margin | 2.7% | 8.3% |
| Return on capital | −2.2% | 6.5% |
| Return on equity | 4.5% | 7.9% |
| Balance sheet | ||
| Net debt | $104M | $922M |
| Net debt / EBITDA | 4.9x | 3.1x |
| Dividends and buybacks | $0.0M | $508M |
| Valuation & quality | ||
| P/E | 174.4x | 35.9x |
| Piotroski F-score | 6 | 6 |
FY16
AXON $268M
HXL $2.0B
FY17
AXON $344M
HXL $2.0B
FY18
AXON $420M
HXL $2.2B
FY19
AXON $531M
HXL $2.4B
FY20
AXON $681M
HXL $1.5B
FY21
AXON $863M
HXL $1.3B
FY22
AXON $1.2B
HXL $1.6B
FY23
AXON $1.6B
HXL $1.8B
FY24
AXON $2.1B
HXL $1.9B
FY25
AXON $2.8B
HXL $1.9B
AXON
HXL
FY16
AXON 11.9%
HXL 18.0%
FY17
AXON 3.8%
HXL 17.8%
FY18
AXON 5.9%
HXL 17.0%
FY19
AXON −1.2%
HXL 18.1%
FY20
AXON −2.1%
HXL 0.9%
FY21
AXON −19.5%
HXL 3.9%
FY22
AXON 7.8%
HXL 11.1%
FY23
AXON 10.1%
HXL 12.0%
FY24
AXON 2.8%
HXL 9.8%
FY25
AXON −2.2%
HXL 9.1%
AXON
HXL
FY16
AXON $16.2M
HXL $73.5M
FY17
AXON $8.1M
HXL $151M
FY18
AXON $52.7M
HXL $237M
FY19
AXON $49.7M
HXL $287M
FY20
AXON −$34.2M
HXL $214M
FY21
AXON $74.6M
HXL $124M
FY22
AXON $180M
HXL $96.8M
FY23
AXON $130M
HXL $149M
FY24
AXON $330M
HXL $203M
FY25
AXON $75.1M
HXL $157M
AXON
HXL
FY16
AXON 32.1%
HXL 14.6%
FY17
AXON 8.8%
HXL 14.7%
FY18
AXON 24.4%
HXL 13.4%
FY19
AXON −2.1%
HXL 14.5%
FY20
AXON −3.7%
HXL 0.5%
FY21
AXON −24.3%
HXL 1.7%
FY22
AXON 8.3%
HXL 6.4%
FY23
AXON 15.2%
HXL 8.8%
FY24
AXON 3.5%
HXL 7.4%
FY25
AXON −2.2%
HXL 6.5%
AXON
HXL
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.