Axon Enterprise, Inc. AXON

Competitive advantage analysis · industrials

Corporate Default
Overall moat score
46/100
Developing

Ranked against 79 peers in Aerospace & Defense

About Axon Enterprise, Inc.

Axon Enterprise, Inc. provides public safety technology solutions in the United States and internationally. The company operates in two segments, Software and Services, and Connected Devices. The Software and Services segment develops, manufactures, and sells cloud-based software-as-a-service solutions to capture, store, manage, share, and analyze video and other digital evidence. This segment also offers Axon Evidence, Draft One, Axon Records, … Full AXON analysis →

Key strengths

  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.93), suggesting sticky customer base.
  • Operating Leverage in Effect Operating leverage is evident (score 0.77), with margins expanding over time.

Key risks

  • Elevated Debt Risk Debt serviceability is weak (score 0.32), raising refinancing risk.
  • Below-Peer Operating Efficiency Operating margin at 38.6th percentile indicates below-peer efficiency.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
33
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where AXON ranks in Aerospace & Defense

Axon Enterprise, Inc. ranks #39 of 80 scored companies in Aerospace & Defense by moat score — the top 49%. The widest moat in the group is Howmet Aerospace Inc. (HWM) at 80/100.

# Company Moat score Rating
35 Smith & Wesson Brands, Inc. SWBI 52/100 Moderate
36 Kratos Defense & Security Solut KTOS 52/100 Moderate
37 V2X, Inc. VVX 51/100 Moderate
38 VSE Corporation VSEC 51/100 Moderate
39 Axon Enterprise, Inc. AXON 46/100 Developing
40 Space Exploration Technologies SPCX 45/100 Developing
41 Mercury Systems Inc MRCY 44/100 Developing
42 Boeing Company (The) BA 43/100 Developing
43 Planet Labs PBC PL 42/100 Developing

See every General Corporate company ranked by moat score →

How AXON scores on the Corporate Default defenses

Pricing Power

Score 33 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 37 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 69 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 31 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 42 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 68 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding AXON's moat

What is Axon Enterprise, Inc.'s moat score?

Axon Enterprise, Inc. (AXON) scores 46 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #39 of 80 scored companies in Aerospace & Defense, the top 49%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 79 companies in Aerospace & Defense. Its strongest defense is Customer Stickiness (69/100) and its weakest is Capital Efficiency (31/100).

How does Axon Enterprise, Inc. compare with other Aerospace & Defense companies?

Axon Enterprise, Inc. ranks #39 of 80 scored companies in Aerospace & Defense by moat score. The widest moat in Aerospace & Defense is Howmet Aerospace Inc. (HWM) at 80/100. The companies ranked closest are VSE Corporation (VSEC) at 50 just above it and Space Exploration Technologies (SPCX) at 45 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 79 companies in Aerospace & Defense. The defenses are then weighted to produce the overall score out of 100.

Why is Axon Enterprise, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for Axon Enterprise, Inc.?

The Corporate Default template measures 6 defenses, and AXON scores: Pricing Power (33), Cost Advantage (37), Customer Stickiness (69), Capital Efficiency (31), Resilience (42), Scale & Market Position (68). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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