Axon Enterprise, Inc. (AXON)
Axon Enterprise makes Tasers, body cameras, and cloud software for law enforcement.
AXON vs EMR: how the two businesses compare
- Bigger business: EMR, with $18.0B of yearly revenue, about 6.5× AXON's $2.8B.
- More profitable: EMR keeps 13 cents of each sales dollar as profit, against 4 cents at AXON.
- More cash from each sale: EMR turns 17 cents of each sales dollar into operating cash flow, against 8 cents at AXON.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Emerson Electric (EMR) is the larger business by reported revenue: $18.0B in its fiscal year ended Sep 2025, about 6.5× AXON's $2.8B (fiscal year ended Dec 2025). AXON's net margin was 4.5% and EMR's 12.6%. The SEC classifies them differently (Ordnance & Accessories, (No Vehicles/Guided Missiles); Electronic & Other Electrical Equipment (No Computer Equip)); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Industrials
- Different
- Separate classifications
- Different
- AXON December 31 · EMR September 30
- Nov 9, 2026
AXON vs EMR: quick comparison
| Company fact | AXON | EMR |
|---|---|---|
| Company | Axon Enterprise, Inc. | Emerson Electric Co. |
| Exchange | NASDAQ | NYSE |
| SEC industry | Ordnance & Accessories, (No Vehicles/Guided Missiles) | Electronic & Other Electrical Equipment (No Computer Equip) |
| Fiscal year-end | December 31 | September 30 |
| Latest annual filing | 10-K · 2026-02-25 | 10-K · 2026-11-09 |
AXON vs EMR: audited financials
- Scale: EMR's $18.0B of revenue is about 6.5× AXON's $2.8B.
- Net margin: EMR kept 12.6% of revenue as net income versus 4.5% at AXON.
- Cash conversion: operating cash flow equalled AXON 7.6% of revenue, or 1.70× net income; EMR 17.2% of revenue, or 1.36× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 3 months apart (2025-12-31 for AXON, 2025-09-30 for EMR), so each figure reflects somewhat different demand and cost conditions.
| Metric | AXON | EMR |
|---|---|---|
| Revenue | $2.8B2025-01-01 to 2025-12-31 · SEC filing | $18.0B2024-10-01 to 2025-09-30 · SEC filing |
| Net income | $125M2025-01-01 to 2025-12-31 · SEC filing | $2.3B2024-10-01 to 2025-09-30 · SEC filing |
| Operating cash flow | $211M2025-01-01 to 2025-12-31 · SEC filing | $3.1B2024-10-01 to 2025-09-30 · SEC filing |
| Diluted EPS | $1.512025-01-01 to 2025-12-31 · SEC filing | $4.002024-10-01 to 2025-09-30 · SEC filing |
| Net margin | 4.5%2025-01-01 to 2025-12-31 · SEC filing | 12.6%2024-10-01 to 2025-09-30 · SEC filing |
AXON: FY ending 2025-12-31 · EMR: FY ending 2025-09-30. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where AXON and EMR overlap, and where they don't
Overlap
- Shared research theme: Artificial intelligence.
Differences
- Different SEC industries: AXON files as Ordnance & Accessories, (No Vehicles/Guided Missiles); EMR as Electronic & Other Electrical Equipment (No Computer Equip).
- Offset fiscal calendars: AXON's year ends December 31 and EMR's September 30, about 3 months apart.
- Scale: EMR reported about 6.5× the annual revenue of AXON.
- Profitability: net margin of 4.5% for AXON versus 12.6% for EMR.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Emerson Electric Co. (EMR)
Emerson Electric makes automation software and control systems for process and industrial manufacturing.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves AXON
We have not yet published a company-specific driver list for AXON. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-25.
What moves EMR
We have not yet published a company-specific driver list for EMR. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-11-09.
The investment question
You now know EMR reports about 6.5× AXON's revenue, and EMR keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to artificial intelligence, and which evidence in the next filings would prove that assumption wrong.
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Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. AXON's fiscal year ends December 31, while EMR's ends September 30. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 4 matched transaction rows for AXON and 16 matched transaction rows for EMR. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
AXON primary filings
EMR primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving AXON or EMR
AXON vs EMR FAQs
Are AXON and EMR direct competitors?
Not necessarily. Axon Enterprise files as Ordnance & Accessories, (No Vehicles/Guided Missiles) and Emerson Electric as Electronic & Other Electrical Equipment (No Computer Equip). The pair is compared because both map to the Artificial intelligence research theme, not because the filings show head-to-head competition.
Is AXON or EMR the bigger company by revenue?
Emerson Electric (EMR) is the larger business by reported revenue: $18.0B in its fiscal year ended Sep 2025, about 6.5× AXON's $2.8B (fiscal year ended Dec 2025). AXON's net margin was 4.5% and EMR's 12.6%. The SEC classifies them differently (Ordnance & Accessories, (No Vehicles/Guided Missiles); Electronic & Other Electrical Equipment (No Computer Equip)); what connects them is shared exposure to the Artificial intelligence research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, AXON or EMR?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this AXON vs EMR comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Axon Enterprise, Inc. and Emerson Electric Co. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-11-09. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-11-09. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
AXON vs EMR compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
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