NASDAQ: AXON · Aerospace & Defense
Axon Enterprise (AXON) fair value: undervalued or overvalued?
As of 26 Sep 2026, Faircurve's model values Axon Enterprise (AXON) at $428.19 a share. The stock last closed at $413.35, which puts the model's fair value 3.6% above the price. On the model's bands that reads as Fairly valued.
Revalued . Price is the close of 2 Oct 2026. Axon Enterprise, Inc.
Faircurve Insights · 26 Sep 2026
Axon Enterprise, Inc. was founded in 1993 and is headquartered in Scottsdale, Arizona. It was previously known as TASER International, Inc. until its rebranding in April 2017.
Faircurve's model found a fair value of $428.19 a share on 26 Sep 2026, the midpoint of 2,000 simulations. The previous run on 19 Sep 2026 gave $441.58, so the fair value moved -3.0%. The calibrated range over 63 trading days is $346.27 to $563.34; ranges built this way held the price 60% of the time at this horizon. The model's evidence grade is Medium.
The overall quality score for the business is 40 out of 100 against comparable companies. The model compares it with L3Harris Technologies, Inc. (LHX), Curtiss-Wright Corporation (CW), Woodward, Inc. (WWD), TransDigm Group Incorporated (TDG), Northrop Grumman Corporation (NOC), General Dynamics Corporation (GD), and Textron Inc. (TXT). The median move around the last 8 earnings reports, ignoring direction, was 14.3%.
Written from the figures on this page for the 26 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give AXON?
The calibrated range for AXON over 63 trading days is $346.27 to $563.34. It sits around the last close, and its width comes from the volatility that AXON's own options imply (69% a year), calibrated weekly against realised prices (n = 3,330 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon. The fair value is the model's opinion and rides beside the range. It is not the centre of it.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $271.23 to $640.69. In 50% of the simulations the fair value came out above the price the model ran on.
How does AXON score on business quality?
Axon Enterprise's overall quality score is 40 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 16 | 1.3%ROIC | 16.1% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 42 | 0.67xFCF / net income | 1.25x |
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 80 | 33.5%Revenue growth, trailing | 14.5% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 59 | 0.4%Net buybacks / market value | 0.0% |
| Balance sheetNet debt to EBITDA and interest coverage. | 30 | 2.81xNet debt / EBITDA | 1.62x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 20 | 10.2 ptsEBITDA margin downside volatility, 5y | 2.3 pts |
How does AXON compare with similar companies?
The companies in aerospace & defense closest to Axon Enterprise in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| LHX L3Harris Technologies, Inc. | $236.60 | $240.04 | +1.5% | Fairly valued |
| HONA Honeywell Aerospace Inc | $154.63 | $179.43 | +16.0% | Data under review |
| CW Curtiss-Wright Corporation | $545.64 | $569.22 | +4.3% | Fairly valued |
| WWD Woodward, Inc. | $331.62 | $311.31 | -6.1% | Fairly valued |
| TDG TransDigm Group Incorporated | $1,090.38 | $1,318.01 | +20.9% | Undervalued |
| NOC Northrop Grumman Corporation | $478.00 | $521.95 | +9.2% | Fairly valued |
| GD General Dynamics Corporation | $330.09 | $355.70 | +7.8% | Fairly valued |
| TXT Textron Inc. | $77.26 | $112.09 | +45.1% | Undervalued |
When does AXON report earnings, and how has the stock reacted?
Axon Enterprise's next earnings report is scheduled for 3 Nov 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 7.8% in either direction through the nearest expiry, about 13 days out. That is the size the market is pricing, not a direction. AXON's 30 day implied volatility works out to about 19.8% over one month.
How AXON moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 14.3%.
| Report date | Two session move |
|---|---|
| 5 Aug 2026 | -14.0% |
| 6 May 2026 | +12.2% |
| 24 Feb 2026 | +22.8% |
| 4 Nov 2025 | -11.7% |
| 4 Aug 2025 | +16.8% |
| 7 May 2025 | +14.2% |
| 25 Feb 2025 | +14.5% |
| 7 Nov 2024 | +31.3% |
Axon Enterprise at a glance
Axon Enterprise, Inc., founded in 1993 and headquartered in Scottsdale, Arizona, was previously known as TASER International, Inc. until its rebranding in April 2017.
- Market value
- $34.7B
- Sector
- Industrials
- Industry
- Aerospace & Defense
- Revenue expected, next twelve months
- $4.5B
- Consensus revenue growth, next fiscal year
- +33.4%
- Analysts with estimates
- 12
- Beta to the US market
- 1.48
- First valued by Faircurve
- 1 May 2026
How the fair value is worked out: the model prices Axon Enterprise on the value of the whole business, debt included, against the revenue analysts expect next year (forward EV/Sales), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 19 Sep 2026 the model's fair value for AXON was $441.58. As of 26 Sep 2026 it is $428.19, a change of -3.0%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Axon Enterprise's valuation
Is Axon Enterprise stock undervalued or overvalued?
On Faircurve's model, AXON reads as Fairly valued as of 26 Sep 2026. The model's fair value is $428.19 a share against a last close of $413.35, a gap of +3.6%.
What is AXON's fair value?
$428.19 a share as of 26 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $271.23 to $640.69.
What price range does the model give AXON?
$346.27 to $563.34 over 63 trading days. Ranges built this way held the price 60% of the time across 3,330 past valuations, refreshed 26 Sep 2026.
When does Axon Enterprise report earnings next?
The next report is scheduled for 3 Nov 2026. Companies can move their dates.
How much has AXON moved on past earnings reports?
Across its last 8 reports the median two session move was 14.3%, ignoring direction. The largest was +31.3% around the report of 7 Nov 2024.
How confident is the model in this valuation?
The model's evidence grade for AXON is medium. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.