Axon EnterpriseAXON +2.85%81 Cyclically Adjusted PB Ratio is 34.10 as of Jul. 06, 2026, which is 52% above its 10-year median of 22.44. GuruFocus rates AXON with a GF Score™ of 81/100 and a GF Value™ of $605.85 (Fairly Valued). The stock has 4 warning signs investors should review. Among 214 Aerospace & Defense companies, Axon Enterprise ranks worse than 100% on this metric.
The historical rank and industry rank for Axon Enterprise's Cyclically Adjusted PB Ratio or its related term are showing as below:
AXON'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 9.32 Med: 22.44 Max: 58.64
Current: 33.14
During the past years, Axon Enterprise's highest Cyclically Adjusted PB Ratio was 58.64. The lowest was 9.32. And the median was 22.44.
AXON's Cyclically Adjusted PB Ratio is ranked worse than 100% of 214
companies
in the Aerospace & Defense industry
Industry Median: 4.065
vs AXON: 33.14
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.
Axon Enterprise's adjusted book value per share data for the three months ended in Mar. 2026 was $43.863. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $18.01 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Axon Enterprise (NAS:AXON) Cyclically Adjusted PB Ratio Explanation
Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.
Axon Enterprise Cyclically Adjusted PB Ratio Related Terms
Axon Enterprise Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Axon Enterprise's Cyclically Adjusted PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Axon Enterprise Cyclically Adjusted PB Ratio Chart
AXON vs HEI.A, CW, FTAI: Cyclically Adjusted PB Ratio Comparison
For the Aerospace & Defense subindustry, Axon Enterprise's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Axon Enterprise Cyclically Adjusted PB Ratio vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Axon Enterprise's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Axon Enterprise's Cyclically Adjusted PB Ratio falls into.
Axon Enterprise Cyclically Adjusted PB Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.
Axon Enterprise's Cyclically Adjusted PB Ratio for today is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PB Ratio of 34.10 mean?
Axon Enterprise (AXON) has a Cyclically Adjusted PB Ratio of 34.10 as of Jul. 06, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Axon Enterprise and its competitors. This is 52% above median its historical median of 22.44. Over the past decade, Axon Enterprise's Cyclically Adjusted PB Ratio has ranged from 9.32 to 58.64. According to the industry distribution chart, Axon Enterprise ranks #214 out of 214 companies in the Aerospace & Defense industry.
Is Axon Enterprise's Cyclically Adjusted PB Ratio too high?
Axon Enterprise's current Cyclically Adjusted PB Ratio of 34.10 is 52% above median its 10-year median of 22.44. Over the past 10 years, this metric has ranged from a low of 9.32 to a high of 58.64. The Aerospace & Defense industry median Cyclically Adjusted PB Ratio is 4.07. Axon Enterprise's value of 34.10 is 738.9% above this industry median. Based on the distribution chart, Axon Enterprise ranks #214 out of 214 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Axon Enterprise has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Axon Enterprise's Cyclically Adjusted PB Ratio compare to HEI.A and CW?
According to the Aerospace & Defense industry distribution chart, Axon Enterprise ranks #214 out of 214 companies for Cyclically Adjusted PB Ratio. This places Axon Enterprise in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 4.07. Axon Enterprise's value of 34.10 is 738.9% above this benchmark. Historically, Axon Enterprise's own Cyclically Adjusted PB Ratio has ranged from 9.32 to 58.64 over the past decade. While the company's 10-year median is 22.44 vs. the industry median of 4.07, Axon Enterprise has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Aerospace & Defense company?
The median Cyclically Adjusted PB Ratio among Aerospace & Defense companies is 4.07, based on 214 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Axon Enterprise's current Cyclically Adjusted PB Ratio of 34.10 is 738.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Axon Enterprise and its competitors. For the Aerospace & Defense industry, the median Cyclically Adjusted PB Ratio is 4.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Axon Enterprise's current Cyclically Adjusted PB Ratio is 34.10, which is 52% above median its own 10-year median of 22.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Axon Enterprise stock overvalued right now?
Based on GuruFocus' analysis, Axon Enterprise (AXON) is currently considered Fairly Valued. The stock's GF Value™ is $605.85, compared to a current price of $614.07 — trading 1.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 34.10, which is 52% above median its 10-year median of 22.44 and 738.9% above the Aerospace & Defense industry median of 4.07. Axon Enterprise's overall GF Score™ is 81/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Axon Enterprise (AXON), the current Cyclically Adjusted PB Ratio is 34.10 as of Jul. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Axon Enterprise (AXON) Overvalued in 2026?
Based on GuruFocus' analysis, Axon Enterprise stock appears to be overvalued.
The current stock price of $614.07 is trading 1.4% above its estimated GF Value™ of $605.85.
GuruFocus considers Axon Enterprise to be Fairly Valued.
Key valuation signals for AXON:
Cyclically Adjusted PB Ratio: 34.10 (52% above median its 10-year median of 22.44)
GF Value™: $605.85 vs. price of $614.07 (1.4% above fair value)
Industry Position: 738.9% above the Aerospace & Defense median (#214 of 214)
No single metric tells the full story. See the AXON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Axon Enterprise Inc is building a public safety operating system by integrating a suite of hardware devices and cloud software solutions. The company's suite includes cloud-hosted digital evidence management solutions, TASER energy devices, drones and robotic security, and training solutions. Its operation comprises of two operating segments, Software and Services, and Connected Devices. The company generates the majority of its revenue from the Connected Devices segment, which is engaged in developing, manufacturing, and selling fully integrated hardware solutions such as conducted energy devices sold under the TASER brand, body cameras, fixed and in-car cameras, drone and counter-drone technologies, and a broad ecosystem of accessories, extended warranties and related hardware products.
81GF Score
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