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Axon Enterprise vs Smith & Wesson Brands: revenue, profit, margins and growth compared

Axon Enterprise brought in $2.8B of revenue in fiscal 2025, Smith & Wesson Brands $523.8M in fiscal 2026. Revenue changed by +33.5% at Axon Enterprise and +10.4% at Smith & Wesson Brands on the year before, so Axon Enterprise grew faster. Axon Enterprise kept 4.5% of its revenue as net profit, Smith & Wesson Brands 3.5%. Free cash flow was $75.1M at Axon Enterprise and $90.4M at Smith & Wesson Brands.

Side by side, latest fiscal year

AXONSWBI
Fiscal year endedFY2025 (December 31, 2025)FY2026 (April 30, 2026)
Revenue$2.8B$523.8M
Revenue growth+33.5%+10.4%
Net income$124.7M$18.5M
Net margin4.5%3.5%
Free cash flow$75.1M$90.4M
Free cash flow margin2.7%17.3%
Earnings per share (diluted)$1.51$0.41
Cash$1.2B$28.2M
Debt$1.8Bn/a
Price to earnings284.834.8
Market value$34.9B$639.4M
Dividend yieldn/a3.65%
Rank by revenue in sector#190 of 451 · Industrials#316 of 451 · Industrials

Over the years

Revenue
AXON FY2018: $420.1MAXON FY2019: $530.9MAXON FY2020: $681MAXON FY2021: $863.4MAXON FY2022: $1.2BAXON FY2023: $1.6BAXON FY2024: $2.1BAXON FY2025: $2.8BSWBI FY2019: $481.3MSWBI FY2020: $529.6MSWBI FY2021: $1.1BSWBI FY2022: $864.1MSWBI FY2023: $479.2MSWBI FY2024: $535.8MSWBI FY2025: $474.7MSWBI FY2026: $523.8MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AXON $2.8BSWBI $523.8M
Net income
AXON FY2018: $29.2MAXON FY2019: $882KAXON FY2020: -$1.7MAXON FY2021: -$60MAXON FY2022: $146.9MAXON FY2023: $175.8MAXON FY2024: $377MAXON FY2025: $124.7MSWBI FY2019: $18.4MSWBI FY2020: -$61.2MSWBI FY2021: $252MSWBI FY2022: $194.5MSWBI FY2023: $36.9MSWBI FY2024: $41.4MSWBI FY2025: $13.4MSWBI FY2026: $18.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AXON $124.7MSWBI $18.5M
Net margin
AXON FY2018: 7.0%AXON FY2019: 0.2%AXON FY2020: -0.3%AXON FY2021: -7.0%AXON FY2022: 12.4%AXON FY2023: 11.3%AXON FY2024: 18.1%AXON FY2025: 4.5%SWBI FY2019: 3.8%SWBI FY2020: -11.6%SWBI FY2021: 23.8%SWBI FY2022: 22.5%SWBI FY2023: 7.7%SWBI FY2024: 7.7%SWBI FY2025: 2.8%SWBI FY2026: 3.5%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AXON 4.5%SWBI 3.5%
Revenue growth
AXON FY2019: +26.4%AXON FY2020: +28.3%AXON FY2021: +26.8%AXON FY2022: +37.5%AXON FY2023: +31.5%AXON FY2024: +33.4%AXON FY2025: +33.5%SWBI FY2020: +10.0%SWBI FY2021: +100.0%SWBI FY2022: -18.4%SWBI FY2023: -44.5%SWBI FY2024: +11.8%SWBI FY2025: -11.4%SWBI FY2026: +10.4%FY19FY20FY21FY22FY23FY24FY25FY26
AXON +33.5%SWBI +10.4%
Free cash flow
AXON FY2018: $52.7MAXON FY2019: $49.7MAXON FY2020: -$34.1MAXON FY2021: $74.6MAXON FY2022: $179.6MAXON FY2023: $129.6MAXON FY2024: $329.5MAXON FY2025: $75.1MSWBI FY2019: $26.2MSWBI FY2020: $82.3MSWBI FY2021: $293.3MSWBI FY2022: $113.8MSWBI FY2023: -$72.8MSWBI FY2024: $16MSWBI FY2025: -$28.8MSWBI FY2026: $90.4MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AXON $75.1MSWBI $90.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Axon Enterprise and Smith & Wesson Brands

Which is bigger by revenue, Axon Enterprise or Smith & Wesson Brands?

Axon Enterprise is bigger by revenue: $2.8B in fiscal 2025, against $523.8M for Smith & Wesson Brands in fiscal 2026.

Which keeps more of its revenue as profit, Axon Enterprise or Smith & Wesson Brands?

Axon Enterprise had a net margin of 4.5% in fiscal 2025; Smith & Wesson Brands had 3.5% in fiscal 2026.

Which grew revenue faster, Axon Enterprise or Smith & Wesson Brands?

In their latest fiscal years revenue changed by +33.5% at Axon Enterprise and +10.4% at Smith & Wesson Brands.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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