AXON ENTERPRISE, INC. (AXON)

Ordnance & Accessories, (No Vehicles/Guided Missiles)

Latest Price

$527.76

TTM P/E

212.81

Normalized P/E

189.05

Div Yield

Book Value

44.09

P/B Ratio

11.97

Valuation metrics

EPS: $1.51

Book value / share: $40.43

Formula: √(22.5 × EPS × BVPS)

Graham Number

$37.06

93% downside

Base FCF: $130M (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$26.26

95% downside

EPS: $1.51

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$22.65

96% downside

83.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	7.99M	$3.39B	9.92%	-251.2K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	5.04M	$2.14B	6.26%	--	2026-03-31
STATE STREET CORP	3.68M	$1.56B	4.57%	+131.6K	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	3.60M	$1.53B	4.47%	--	2026-03-31
BAILLIE GIFFORD & CO	2.46M	$1.04B	3.05%	+817.1K	2026-03-31
WELLINGTON MANAGEMENT GROUP LLP	2.42M	$1.03B	3.00%	+878.4K	2026-03-31
FMR LLC	2.40M	$1.02B	2.97%	-177.8K	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	2.26M	$954.0M	2.80%	+30.1K	2026-03-31
EDGEWOOD MANAGEMENT LLC	2.03M	$861.0M	2.52%	+537.9K	2026-03-31
SANDS CAPITAL MANAGEMENT, LLC	1.56M	$664.0M	1.94%	-44.9K	2026-03-31