Axon Enterprise, Inc. (AXON)
Axon Enterprise makes Tasers, body cameras, and cloud software for law enforcement.
Industrials stock comparison
AXON vs ETN: which business are you actually underwriting?
Compare Axon Enterprise, Inc. with Eaton Corporation plc using their business models, SEC classifications, fiscal calendars, current primary filings, and the research questions that matter. This is a thesis framework—not a price target or automatic winner.
- Sector
- Industrials
- Industry
- Different SIC
- Shared themes
- 1
- Updated
- 2026-02-26
AXON vs ETN: quick comparison
| Company fact | AXON | ETN |
|---|---|---|
| Company | Axon Enterprise, Inc. | Eaton Corporation plc |
| Exchange | NASDAQ | NYSE |
| SEC industry | Ordnance & Accessories, (No Vehicles/Guided Missiles) | Misc Industrial & Commercial Machinery & Equipment |
| Fiscal year-end | December 31 | December 31 |
| Latest annual filing | 10-K · 2026-02-25 | 10-K · 2026-02-26 |
AXON vs ETN: audited financials
ETN reported about 9.9× the revenue of AXON in the latest audited fiscal year. On profitability, ETN converted a larger share of revenue into net income (14.9% versus 4.5%). Scale and margin are starting facts for the thesis, not the verdict.
| Metric | AXON | ETN |
|---|---|---|
| Revenue | $2.8B | $27.4B |
| Net income | $125M | $4.1B |
| Operating cash flow | $211M | $4.5B |
| Diluted EPS | $1.51 | $10.45 |
| Net margin | 4.5% | 14.9% |
AXON: FY ending 2025-12-31 · ETN: FY ending 2025-12-31. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
How the businesses differ
Why this pair belongs in the comparison set
AXON and ETN have different SEC industry classifications, but both map to the maintained Artificial intelligence research theme inside the Industrials sector. A shared classification or theme makes the pair useful for a defined research question; it does not mean the companies have identical products, economics, or risks.
Eaton Corporation plc (ETN)
Eaton makes electrical power-management equipment and components for buildings, data centers, and vehicles.
The useful starting point is not which ticker has performed better. It is whether the two companies convert the same economic forces into revenue and cash flow in the same way. AXON is classified by the SEC as Ordnance & Accessories, (No Vehicles/Guided Missiles), while ETN is classified as Misc Industrial & Commercial Machinery & Equipment. The different industry codes are a warning against treating sector membership as proof of identical economics.
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The thesis, the numbers behind it, and what would break it. Full access is $15 a month.
Read the full researchWhich thesis does each company fit?
Use the distinction below to decide which filing deserves deeper work. It is a research routing rule, not a recommendation or prediction.
Study AXON when…
- Capital-spending and manufacturing PMIs
- Reshoring and supply-chain reconfiguration
- Defense budgets and geopolitical conflict
- Freight rates and logistics demand
Study ETN when…
- Capital-spending and manufacturing PMIs
- Reshoring and supply-chain reconfiguration
- Defense budgets and geopolitical conflict
- Freight rates and logistics demand
Shared research themes
Artificial intelligence
SEC 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 ETN's ends December 31. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 4matched transaction rows for AXONand 37 for ETN. 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
ETN 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 ETN
AXON vs ETN FAQs
Are AXON and ETN direct competitors?
Axon Enterprise, Inc. and Eaton Corporation plc sit in the same Industrials sector but have different SEC industry classifications. The comparison is most useful for portfolio role and sector exposure, not as a claim that every product competes directly.
Which is better, AXON or ETN?
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 ETN 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 Eaton Corporation plc 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 2026-09-25. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-09-25. Independent educational research; not investment advice.
A comparison is the setup. The thesis is the call.
AXON vs ETN shows how the businesses differ. Membership is the monthly sourced view of who could benefit, what could break, and what evidence matters next. $15/month or $150/year.
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