Stock Analysis on Net

Axon Enterprise Inc. (NASDAQ:AXON)

This company has been moved to the archive! The financial data has not been updated since May 9, 2023.

Analysis of Solvency Ratios 
Quarterly Data

Microsoft Excel

Solvency Ratios (Summary)

Axon Enterprise Inc., solvency ratios (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Debt Ratios
Debt to equity 0.48 0.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to equity (including operating lease liability) 0.51 0.56 0.01 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to capital 0.32 0.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to capital (including operating lease liability) 0.34 0.36 0.01 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to assets 0.22 0.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to assets (including operating lease liability) 0.24 0.25 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial leverage 2.14 2.25 1.63 1.62 1.58 1.61 1.48 1.39 1.39 1.41 1.43 1.42 1.57 1.56 1.56 1.53 1.54 1.54 1.48 1.43 1.97

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Axon Enterprise Inc. debt to equity ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Axon Enterprise Inc. debt to equity ratio (including operating lease liability) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Axon Enterprise Inc. debt to capital ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Axon Enterprise Inc. debt to capital ratio (including operating lease liability) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Axon Enterprise Inc. debt to assets ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Axon Enterprise Inc. debt to assets ratio (including operating lease liability) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Axon Enterprise Inc. financial leverage ratio increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023.

Debt to Equity

Axon Enterprise Inc., debt to equity calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Convertible notes, net 674,724 673,967
Total debt 674,724 673,967
 
Stockholders’ equity 1,402,995 1,268,491 1,231,313 1,193,651 1,124,789 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Solvency Ratio
Debt to equity1 0.48 0.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity, Competitors2
Boeing Co. 117.95
Caterpillar Inc. 2.04 2.33 2.34 2.35 2.20 2.29 2.21 2.23 2.30 2.42 2.55 2.81 2.61 2.58 2.54 2.45 2.32
Eaton Corp. plc 0.50 0.51 0.56 0.59 0.58 0.52 0.57 0.79 0.68 0.54 0.57 0.58 0.59 0.52 0.51 0.50 0.47
GE Aerospace 0.71 0.89 0.97 0.94 0.86 0.87 1.68 1.90 2.12 2.11 2.39 2.43 2.41 3.21 3.34 2.95 3.06
Honeywell International Inc. 1.13 1.17 0.96 1.09 1.05 1.06 1.19 1.19 1.19 1.28 1.23 1.22 0.91 0.87 1.03 0.91 0.86
Lockheed Martin Corp. 1.62 1.68 0.96 1.02 1.16 1.07 1.21 1.87 1.93 2.02 2.56 3.38 3.68 4.05 3.48 4.75 5.65
RTX Corp. 0.47 0.44 0.48 0.45 0.43 0.43 0.44 0.44 0.44 0.44 0.48 0.49 1.18 1.04 1.10 1.11 1.14

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Debt to equity = Total debt ÷ Stockholders’ equity
= 674,724 ÷ 1,402,995 = 0.48

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity ratio A solvency ratio calculated as total debt divided by total shareholders’ equity. Axon Enterprise Inc. debt to equity ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Debt to Equity (including Operating Lease Liability)

Axon Enterprise Inc., debt to equity (including operating lease liability) calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Convertible notes, net 674,724 673,967
Total debt 674,724 673,967
Long-term operating lease liabilities 35,045 37,143 16,311 18,210 20,112
Total debt (including operating lease liability) 709,769 711,110 16,311 18,210 20,112
 
Stockholders’ equity 1,402,995 1,268,491 1,231,313 1,193,651 1,124,789 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Solvency Ratio
Debt to equity (including operating lease liability)1 0.51 0.56 0.01 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Eaton Corp. plc 0.53 0.53 0.59 0.62 0.60 0.54 0.59 0.81 0.70 0.56 0.59 0.61 0.62 0.54 0.53 0.51 0.48
RTX Corp. 0.50 0.46 0.50 0.47 0.46 0.45 0.46 0.46 0.46 0.46 0.50 0.51 1.23 1.10 1.15 1.17 1.19

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Stockholders’ equity
= 709,769 ÷ 1,402,995 = 0.51

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to equity (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. Axon Enterprise Inc. debt to equity ratio (including operating lease liability) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Debt to Capital

Axon Enterprise Inc., debt to capital calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Convertible notes, net 674,724 673,967
Total debt 674,724 673,967
Stockholders’ equity 1,402,995 1,268,491 1,231,313 1,193,651 1,124,789 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Total capital 2,077,719 1,942,458 1,231,313 1,193,651 1,124,789 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Solvency Ratio
Debt to capital1 0.32 0.35 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital, Competitors2
Boeing Co. 1.39 1.39 1.45 1.35 1.36 1.35 1.30 1.36 1.40 1.40 1.24 1.23 1.33 1.46 1.20 1.38 0.99
Caterpillar Inc. 0.67 0.70 0.70 0.70 0.69 0.70 0.69 0.69 0.70 0.71 0.72 0.74 0.72 0.72 0.72 0.71 0.70
Eaton Corp. plc 0.34 0.34 0.36 0.37 0.37 0.34 0.36 0.44 0.40 0.35 0.36 0.37 0.37 0.34 0.34 0.33 0.32
GE Aerospace 0.41 0.47 0.49 0.48 0.46 0.47 0.63 0.65 0.68 0.68 0.70 0.71 0.71 0.76 0.77 0.75 0.75
Honeywell International Inc. 0.53 0.54 0.49 0.52 0.51 0.51 0.54 0.54 0.54 0.56 0.55 0.55 0.48 0.46 0.51 0.48 0.46
Lockheed Martin Corp. 0.62 0.63 0.49 0.50 0.54 0.52 0.55 0.65 0.66 0.67 0.72 0.77 0.79 0.80 0.78 0.83 0.85
RTX Corp. 0.32 0.31 0.32 0.31 0.30 0.30 0.30 0.31 0.31 0.31 0.32 0.33 0.54 0.51 0.52 0.53 0.53

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 674,724 ÷ 2,077,719 = 0.32

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Axon Enterprise Inc. debt to capital ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Debt to Capital (including Operating Lease Liability)

Axon Enterprise Inc., debt to capital (including operating lease liability) calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Convertible notes, net 674,724 673,967
Total debt 674,724 673,967
Long-term operating lease liabilities 35,045 37,143 16,311 18,210 20,112
Total debt (including operating lease liability) 709,769 711,110 16,311 18,210 20,112
Stockholders’ equity 1,402,995 1,268,491 1,231,313 1,193,651 1,124,789 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Total capital (including operating lease liability) 2,112,764 1,979,601 1,247,624 1,211,861 1,144,901 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Solvency Ratio
Debt to capital (including operating lease liability)1 0.34 0.36 0.01 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Eaton Corp. plc 0.35 0.35 0.37 0.38 0.37 0.35 0.37 0.45 0.41 0.36 0.37 0.38 0.38 0.35 0.35 0.34 0.33
RTX Corp. 0.33 0.32 0.33 0.32 0.31 0.31 0.31 0.32 0.32 0.32 0.33 0.34 0.55 0.52 0.54 0.54 0.54

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 709,769 ÷ 2,112,764 = 0.34

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Axon Enterprise Inc. debt to capital ratio (including operating lease liability) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Debt to Assets

Axon Enterprise Inc., debt to assets calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Convertible notes, net 674,724 673,967
Total debt 674,724 673,967
 
Total assets 3,007,949 2,851,894 2,010,430 1,932,023 1,772,454 1,688,210 1,645,387 1,526,888 1,404,858 1,381,023 1,279,149 1,232,912 877,451 845,639 792,304 746,370 739,195 719,540 681,695 642,397 392,985
Solvency Ratio
Debt to assets1 0.22 0.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets, Competitors2
Boeing Co. 0.41 0.42 0.42 0.42 0.43 0.42 0.43 0.43 0.42 0.42 0.38 0.38 0.27 0.20 0.19 0.15 0.12
Caterpillar Inc. 0.44 0.45 0.45 0.46 0.46 0.46 0.46 0.46 0.47 0.47 0.50 0.50 0.49 0.48 0.49 0.46 0.45
Eaton Corp. plc 0.25 0.25 0.26 0.28 0.27 0.25 0.27 0.33 0.30 0.25 0.26 0.27 0.27 0.25 0.25 0.25 0.24
GE Aerospace 0.14 0.17 0.17 0.18 0.18 0.18 0.27 0.27 0.29 0.30 0.31 0.32 0.32 0.34 0.35 0.34 0.34
Honeywell International Inc. 0.32 0.31 0.28 0.31 0.31 0.30 0.33 0.33 0.34 0.35 0.35 0.35 0.28 0.27 0.31 0.28 0.28
Lockheed Martin Corp. 0.29 0.29 0.22 0.22 0.23 0.23 0.23 0.23 0.24 0.24 0.25 0.26 0.26 0.27 0.28 0.28 0.29
RTX Corp. 0.21 0.20 0.21 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.33 0.31 0.32 0.33 0.33

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 674,724 ÷ 3,007,949 = 0.22

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Axon Enterprise Inc. debt to assets ratio deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Debt to Assets (including Operating Lease Liability)

Axon Enterprise Inc., debt to assets (including operating lease liability) calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Convertible notes, net 674,724 673,967
Total debt 674,724 673,967
Long-term operating lease liabilities 35,045 37,143 16,311 18,210 20,112
Total debt (including operating lease liability) 709,769 711,110 16,311 18,210 20,112
 
Total assets 3,007,949 2,851,894 2,010,430 1,932,023 1,772,454 1,688,210 1,645,387 1,526,888 1,404,858 1,381,023 1,279,149 1,232,912 877,451 845,639 792,304 746,370 739,195 719,540 681,695 642,397 392,985
Solvency Ratio
Debt to assets (including operating lease liability)1 0.24 0.25 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Eaton Corp. plc 0.26 0.26 0.28 0.29 0.28 0.26 0.28 0.34 0.31 0.26 0.28 0.28 0.28 0.26 0.26 0.26 0.25
RTX Corp. 0.22 0.21 0.22 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.35 0.33 0.34 0.34 0.34

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 709,769 ÷ 3,007,949 = 0.24

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets (including operating lease liability) ratio A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Axon Enterprise Inc. debt to assets ratio (including operating lease liability) deteriorated from Q3 2022 to Q4 2022 but then slightly improved from Q4 2022 to Q1 2023.

Financial Leverage

Axon Enterprise Inc., financial leverage calculation (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Selected Financial Data (US$ in thousands)
Total assets 3,007,949 2,851,894 2,010,430 1,932,023 1,772,454 1,688,210 1,645,387 1,526,888 1,404,858 1,381,023 1,279,149 1,232,912 877,451 845,639 792,304 746,370 739,195 719,540 681,695 642,397 392,985
Stockholders’ equity 1,402,995 1,268,491 1,231,313 1,193,651 1,124,789 1,047,849 1,113,903 1,097,699 1,010,904 976,255 895,153 869,813 559,590 543,495 507,647 488,927 480,539 467,324 459,662 448,842 199,329
Solvency Ratio
Financial leverage1 2.14 2.25 1.63 1.62 1.58 1.61 1.48 1.39 1.39 1.41 1.43 1.42 1.57 1.56 1.56 1.53 1.54 1.54 1.48 1.43 1.97
Benchmarks
Financial Leverage, Competitors2
Boeing Co. 961.67
Caterpillar Inc. 4.61 5.16 5.19 5.16 4.82 5.02 4.85 4.85 4.87 5.11 5.13 5.57 5.35 5.38 5.22 5.34 5.10
Eaton Corp. plc 2.04 2.06 2.14 2.15 2.12 2.07 2.14 2.39 2.27 2.13 2.14 2.14 2.17 2.04 2.01 1.98 1.95
GE Aerospace 5.20 5.16 5.75 5.35 4.92 4.93 6.33 7.09 7.30 7.13 7.64 7.62 7.43 9.40 9.42 8.71 8.96
Honeywell International Inc. 3.54 3.73 3.40 3.55 3.45 3.47 3.60 3.56 3.53 3.68 3.51 3.50 3.25 3.17 3.32 3.23 3.12
Lockheed Martin Corp. 5.66 5.71 4.35 4.53 5.15 4.64 5.38 7.99 8.15 8.43 10.25 13.22 14.29 15.20 12.66 16.79 19.34
RTX Corp. 2.22 2.19 2.25 2.26 2.20 2.21 2.23 2.23 2.24 2.25 2.37 2.40 3.54 3.34 3.44 3.41 3.46

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

1 Q1 2023 Calculation
Financial leverage = Total assets ÷ Stockholders’ equity
= 3,007,949 ÷ 1,402,995 = 2.14

2 Click competitor name to see calculations.

Solvency ratio Description The company
Financial leverage ratio A solvency ratio calculated as total assets divided by total shareholders’ equity. Axon Enterprise Inc. financial leverage ratio increased from Q3 2022 to Q4 2022 but then slightly decreased from Q4 2022 to Q1 2023.