Axon Enterprise vs BWX Technologies
Add, change or remove companies; up to four.
The short version
- BWX Technologies is the larger business, with $3.2B of revenue in fiscal 2025 against $2.8B for Axon Enterprise.
- Axon Enterprise grew revenue faster (33.5%, against 18.3%).
- BWX Technologies kept more of each dollar of sales as operating profit (12.7% operating margin, against −2.2%).
- BWX Technologies turned more of its sales into free cash flow (9.2% FCF margin, against 2.7%).
- BWX Technologies earned a higher return on the capital invested in it (13.9%, against −2.2%).
- Investors pay more for each dollar of Axon Enterprise’s earnings: a P/E of 174.4x against 33.0x for BWX Technologies.
| Latest fiscal year | AXON · FY25 | BWXT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $34.7B | $11.7B |
| Revenue | $2.8B | $3.2B |
| Free cash flow | $75.1M | $295M |
| Net income | $125M | $329M |
| Growth | ||
| Revenue growth | 33.5% | 18.3% |
| 5-year growth | 32.5% | 8.5% |
| Share count change | 4.9% | 0.0% |
| Profitability | ||
| Gross margin | 59.7% | 22.9% |
| Operating margin | −2.2% | 12.7% |
| Net margin | 4.5% | 10.3% |
| FCF margin | 2.7% | 9.2% |
| Return on capital | −2.2% | 13.9% |
| Return on equity | 4.5% | 28.4% |
| Balance sheet | ||
| Net debt | $104M | $1.5B |
| Net debt / EBITDA | 4.9x | 3.0x |
| Dividends and buybacks | $0.0M | $123M |
| Valuation & quality | ||
| P/E | 174.4x | 33.0x |
| Piotroski F-score | 6 | 7 |
Revenue
FY16
AXON $268M
BWXT $1.6B
FY17
AXON $344M
BWXT $1.7B
FY18
AXON $420M
BWXT $1.8B
FY19
AXON $531M
BWXT $1.9B
FY20
AXON $681M
BWXT $2.1B
FY21
AXON $863M
BWXT $2.1B
FY22
AXON $1.2B
BWXT $2.2B
FY23
AXON $1.6B
BWXT $2.5B
FY24
AXON $2.1B
BWXT $2.7B
FY25
AXON $2.8B
BWXT $3.2B
AXON
BWXT
Operating margin
FY16
AXON 11.9%
BWXT 15.1%
FY17
AXON 3.8%
BWXT 17.3%
FY18
AXON 5.9%
BWXT 16.9%
FY19
AXON −1.2%
BWXT 17.2%
FY20
AXON −2.1%
BWXT 16.9%
FY21
AXON −19.5%
BWXT 16.3%
FY22
AXON 7.8%
BWXT 15.6%
FY23
AXON 10.1%
BWXT 15.4%
FY24
AXON 2.8%
BWXT 14.1%
FY25
AXON −2.2%
BWXT 12.7%
AXON
BWXT
Free cash flow
FY16
AXON $16.2M
BWXT $187M
FY17
AXON $8.1M
BWXT $125M
FY18
AXON $52.7M
BWXT $60.0M
FY19
AXON $49.7M
BWXT $97.2M
FY20
AXON −$34.2M
BWXT −$58.6M
FY21
AXON $74.6M
BWXT $75.0M
FY22
AXON $180M
BWXT $46.4M
FY23
AXON $130M
BWXT $212M
FY24
AXON $330M
BWXT $255M
FY25
AXON $75.1M
BWXT $295M
AXON
BWXT
Return on capital
FY16
AXON 32.1%
BWXT —
FY17
AXON 8.8%
BWXT —
FY18
AXON 24.4%
BWXT 32.6%
FY19
AXON −2.1%
BWXT 24.3%
FY20
AXON −3.7%
BWXT 21.5%
FY21
AXON −24.3%
BWXT 16.6%
FY22
AXON 8.3%
BWXT 14.0%
FY23
AXON 15.2%
BWXT 14.4%
FY24
AXON 3.5%
BWXT 14.9%
FY25
AXON −2.2%
BWXT 13.9%
AXON
BWXT
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.