Axon Enterprise
AXON · Aerospace & Defense
$420.37
1.4%Moog
MOG-A · Aerospace & Defense
$341.34
0.1%The short version
- Moog is the larger business, with $3.9B of revenue in fiscal 2025 against $2.8B for Axon Enterprise.
- Axon Enterprise grew revenue faster (33.5%, against 7.0%).
- Moog kept more of each dollar of sales as operating profit (11.7% operating margin, against −2.2% operating margin).
- Moog turned more of its sales into free cash flow (3.3% FCF margin, against 2.7% FCF margin).
- Moog earned a higher return on the capital invested in it (11.7%, against −2.2%).
- Investors pay more for each dollar of Axon Enterprise’s earnings: a P/E of 174.4x against 29.0x for Moog.
| Latest fiscal year | AXON · FY25 | MOG-A · FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.7B | $11.0B |
| Revenue | $2.8B | $3.9B |
| Free cash flow | $75.1M | $128M |
| Net income | $125M | $235M |
| Growth | ||
| Revenue growth | 33.5% | 7.0% |
| 5-year growth | 32.5% | 6.0% |
| Share count change | 4.9% | −0.9% |
| Profitability | ||
| Gross margin | 59.7% | 27.4% |
| Operating margin | −2.2% | 11.7% |
| Net margin | 4.5% | 6.1% |
| FCF margin | 2.7% | 3.3% |
| Return on capital | −2.2% | 11.7% |
| Return on equity | 4.5% | 12.3% |
| Balance sheet | ||
| Net debt | $104M | $1.0B |
| Net debt / EBITDA | 4.9x | 1.8x |
| Dividends and buybacks | $0.0M | $179M |
| Valuation & quality | ||
| P/E | 174.4x | 29.0x |
| Piotroski F-score | 6 | 7 |
FY16
AXON $268M
MOG-A $2.4B
FY17
AXON $344M
MOG-A $2.5B
FY18
AXON $420M
MOG-A $2.7B
FY19
AXON $531M
MOG-A $2.9B
FY20
AXON $681M
MOG-A $2.9B
FY21
AXON $863M
MOG-A $2.9B
FY22
AXON $1.2B
MOG-A $3.0B
FY23
AXON $1.6B
MOG-A $3.3B
FY24
AXON $2.1B
MOG-A $3.6B
FY25
AXON $2.8B
MOG-A $3.9B
AXON
MOG-A
FY16
AXON 11.9%
MOG-A 9.9%
FY17
AXON 3.8%
MOG-A 10.4%
FY18
AXON 5.9%
MOG-A 9.7%
FY19
AXON −1.2%
MOG-A 11.1%
FY20
AXON −2.1%
MOG-A 7.5%
FY21
AXON −19.5%
MOG-A 9.5%
FY22
AXON 7.8%
MOG-A 9.3%
FY23
AXON 10.1%
MOG-A 10.4%
FY24
AXON 2.8%
MOG-A 11.2%
FY25
AXON −2.2%
MOG-A 11.7%
AXON
MOG-A
FY16
AXON $16.2M
MOG-A $149M
FY17
AXON $8.1M
MOG-A $142M
FY18
AXON $52.7M
MOG-A $7.9M
FY19
AXON $49.7M
MOG-A $63.0M
FY20
AXON −$34.2M
MOG-A $191M
FY21
AXON $74.6M
MOG-A $164M
FY22
AXON $180M
MOG-A $107M
FY23
AXON $130M
MOG-A −$37.7M
FY24
AXON $330M
MOG-A $45.9M
FY25
AXON $75.1M
MOG-A $128M
AXON
MOG-A
FY16
AXON 32.1%
MOG-A 9.9%
FY17
AXON 8.8%
MOG-A 11.5%
FY18
AXON 24.4%
MOG-A 7.3%
FY19
AXON −2.1%
MOG-A 12.3%
FY20
AXON −3.7%
MOG-A 10.4%
FY21
AXON −24.3%
MOG-A 9.7%
FY22
AXON 8.3%
MOG-A 9.8%
FY23
AXON 15.2%
MOG-A 11.6%
FY24
AXON 3.5%
MOG-A 12.0%
FY25
AXON −2.2%
MOG-A 11.7%
AXON
MOG-A
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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.