AXON
Axon Enterprise, Inc.
AXON offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
BA
The Boeing Company
BA has a slight edge over AXON overall, supported by lower modeled downside and stronger fundamentals.
AXON Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Weak |
AXON's revenue is currently healthy, and its profitability is stable, but its cash flow and balance sheet are under pressure.
BA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Under pressure |
BA's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is under pressure.
AXON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 36x | $307 | — |
| Current | 99x | $307 | — |
| Cheap | 104x | $322 | +4.9% |
| Fair | 152x | $472 | +54% |
| Expensive | 201x | $625 | +103% |
Historical ranges are pointers, not guarantees.
AXON's PE is 99x, but its earnings don't support one, so it isn't a reliable read right now.
BA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $172 | — |
| Cheap | 51x | $496 | +189% |
| Fair | 82x | $790 | +360% |
| Expensive | 91x | $876 | +411% |
Historical ranges are pointers, not guarantees.
BA has the edge over AXON in the historical PE scenario, which offers more potential upside but is not a forecast.
AXON Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for AXON, but weaker profitability. However, they disagree widely on these estimates.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
BA has the edge over AXON on the outlook, with more favorable profitability expectations.
AXON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.54 | +174% |
| Q3 2026 | $3.11 | -1.9% |
| Q2 2026 | $2.40 | -41% |
| Q1 2026 | $2.48 | -40% |
| Q4 2025 | $1.51 | -69% |
| Q3 2025 | $3.17 | -18% |
| Q2 2025 | $4.06 | +6.8% |
| Q1 2025 | $4.15 | +21% |
| Q4 2024 | $4.80 | +108% |
AXON's earnings per share have fallen from their peak: $3.11 over the past year, against $4.80 in late 2024. Its recent earnings include one-off gains.
BA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $9.66 | +$23.38 |
| Q2 2026 | $2.78 | +$19.33 |
| Q1 2026 | $2.53 | +$20.49 |
| Q4 2025 | $2.48 | +$20.84 |
| Q3 2025 | -$13.72 | -$0.83 |
| Q2 2025 | -$16.55 | -$10.93 |
| Q1 2025 | -$17.96 | -$14.42 |
| Q4 2024 | -$18.36 | -$14.69 |
BA has the edge over AXON on earnings, with more consistent year-over-year improvement.
AXON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $908.6M | +28% |
| Q2 2026 | $904.4M | +35% |
| Q1 2026 | $807.3M | +34% |
| Q4 2025 | $796.7M | +39% |
| Q3 2025 | $710.6M | +31% |
| Q2 2025 | $668.5M | +33% |
| Q1 2025 | $603.6M | +31% |
| Q4 2024 | $575.1M | +33% |
AXON has the edge over BA on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.6% | +4.9 points |
| Q2 2026 | 5.2% | +5.3 points |
| Q1 2026 | 3.6% | +5.1 points |
| Q4 2025 | -6.3% | -3.5 points |
| Q3 2025 | -0.3% | -4.7 points |
| Q2 2025 | -0.1% | -6.7 points |
| Q1 2025 | -1.5% | -5 points |
| Q4 2024 | -2.7% | -13 points |
AXON has the edge over BA on profitability, with a higher operating margin.
BA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.2B | +3.9% |
| Q2 2026 | $24.6B | +8% |
| Q1 2026 | $22.2B | +14% |
| Q4 2025 | $23.9B | +57% |
| Q3 2025 | $23.3B | +30% |
| Q2 2025 | $22.7B | +35% |
| Q1 2025 | $19.5B | +18% |
| Q4 2024 | $15.2B | -31% |
BA's revenue has grown year over year for seven quarters in a row: $24.2B last quarter, up 3.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.5% | +22 points |
| Q2 2026 | 0.6% | +1.4 points |
| Q1 2026 | 2% | -0.3 points |
| Q4 2025 | 37% | +61 points |
| Q3 2025 | -21% | +12 points |
| Q2 2025 | -0.8% | +5.7 points |
| Q1 2025 | 2.4% | +2.9 points |
| Q4 2024 | -25% | -26 points |
BA's operating margin was 1.5% last quarter, up 22 points from the same quarter a year ago.
AXON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$18.9M | -157% |
| Q2 2026 | -$972K | +$113.7M |
| Q1 2026 | -$54.6M | -5963% |
| Q4 2025 | $155.4M | -31% |
| Q3 2025 | $33.4M | -49% |
| Q2 2025 | -$114.7M | -260% |
| Q1 2025 | $932K | +$33.1M |
| Q4 2024 | $225.4M | +94% |
AXON usually generates cash, though not every quarter: the latest was −$19M, but it generated $81M over the past year.
BA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $464M | +95% |
| Q2 2026 | $631M | +$831M |
| Q1 2026 | -$1.5B | +$836M |
| Q4 2025 | $375M | +$4.5B |
| Q3 2025 | $238M | +$2.2B |
| Q2 2025 | -$200M | +$4.1B |
| Q1 2025 | -$2.3B | +$1.6B |
| Q4 2024 | -$4.1B | -239% |
BA has the edge over AXON on cash flow, with more consistent year-over-year improvement.
AXON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.4% | +1.1M shares |
| 1 year | +6.7% | +5.3M shares |
| 3 years | +10% | +7.7M shares |
| 5 years | +16% | +11.2M shares |
| Available history | +39% | +23.7M shares |
AXON has 84M diluted shares, up 6.7% from a year ago.
BA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2.1M shares |
| 1 year | +4.3% | +32.8M shares |
| 3 years | +31% | +186M shares |
| 5 years | +35% | +204M shares |
| Available history | +40% | +227M shares |
BA has the edge over AXON on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
AXON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 7.4x | High |
| Q2 2026 | 8.5x | High |
| Q1 2026 | 18.2x | High |
| Q4 2025 | 28.9x | High |
| Q3 2025 | 12.7x | High |
| Q2 2025 | 23.6x | High |
| Q1 2025 | 10.3x | High |
| Q4 2024 | 2.1x | Moderate |
AXON's net debt is about 7.4 years of its operating earnings (EBITDA), down from 13 years a year ago.
BA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 6.9x | High |
| Q2 2024 | 361.8x | High |
| Q1 2024 | 36.1x | High |
| Q4 2023 | 36.4x | High |
| Q3 2023 | 96.1x | High |
BA has the edge over AXON on leverage, with a lower net debt burden relative to earnings.
AXON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.9 | Neutral |
| Stochastic | 8.2 | Oversold |
AXON's weekly RSI is 34 (neutral) and its Stochastic is 8 (oversold).
BA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.1 | Neutral |
| Stochastic | 9.6 | Oversold |
BA's weekly RSI is 31 (neutral) and its Stochastic is 10 (oversold).
AXON PE vs Industrials Sector
| Metric | AXON | Sector median | Relative |
|---|---|---|---|
| PE | 99x | 24x | 310% above |
| PE % | 13 | 58 | 45 pts below |
AXON is trading at 99x earnings, a 310% premium to the Industrials sector's median of 24x, though its earnings don't support one.
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA has the edge over AXON on valuation relative to its sector.
AXON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $390.6 | 21% below |
| 20 week MA | $484.2 | 37% below |
| 50 week MA | $482.6 | 36% below |
| 100 week MA | $575.2 | 47% below |
| 200 week MA | $429.6 | 29% below |
AXON is in a downtrend: it's below all five of its weekly moving averages, and 29% below its 200-week average.
BA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $184.6 | 7.1% below |
| 20 week MA | $203.8 | 16% below |
| 50 week MA | $215.5 | 20% below |
| 100 week MA | $205.9 | 17% below |
| 200 week MA | $200.6 | 14% below |
BA is in a downtrend: it's below all five of its weekly moving averages, and 14% below its 200-week average.
AXON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $72.9 | $130.8 | +79% |
| 2021 | $130.8 | $160.5 | +23% |
| 2022 | $160.5 | $169.0 | +5.3% |
| 2023 | $169.0 | $258.3 | +53% |
| 2024 | $258.3 | $611.0 | +137% |
| 2025 | $611.0 | $583.8 | -4.4% |
| 2026 YTD | $583.8 | $307.1 | -47% |
AXON is down 47% so far in 2026, after finishing higher in five of the previous six years.
BA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $330.1 | $217.2 | -34% |
| 2021 | $217.2 | $204.2 | -6% |
| 2022 | $204.2 | $189.1 | -7.4% |
| 2023 | $189.1 | $260.7 | +38% |
| 2024 | $260.7 | $180.7 | -31% |
| 2025 | $180.7 | $216.4 | +20% |
| 2026 YTD | $216.4 | $171.6 | -21% |
BA has the edge over AXON on returns for 2026, with the stronger performance.