Axon EnterpriseXSWX:AXON +41.28%81 Graham Number is CHF51.45 as of Mar. 2026, which is 100% below its 10-year median of 6.31. GuruFocus rates XSWX:AXON with a GF Score™ of 81/100 and a GF Value™ of CHF482.93. The stock has 4 warning signs investors should review. Among 214 Aerospace & Defense companies, Axon Enterprise ranks worse than 92.06% on this metric.
Graham Number is a figure that measures a stock's fundamental value by taking into account the company's earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued, and thus worth investing in.
As of today (2026-07-03), the stock price of Axon Enterprise is CHF476.80. Axon Enterprise's graham number for the quarter that ended in Mar. 2026 was CHF51.45. Therefore, Axon Enterprise's Price to Graham Number ratio for today is 9.27.
The historical rank and industry rank for Axon Enterprise's Graham Number or its related term are showing as below:
XSWX:AXON'
s Price-to-Graham-Number Range Over the Past 10 Years
Min: 3.25 Med: 6.31 Max: 15.79
Current: 11.6
During the past 13 years, the highest Price to Graham Number ratio of Axon Enterprise was 15.79. The lowest was 3.25. And the median was 6.31.
XSWX:AXON's Price-to-Graham-Number is ranked worse than 92.06% of 214
companies
in the Aerospace & Defense industry
Industry Median: 3.065
vs XSWX:AXON: 11.60
Graham Number is a combination of asset valuation and earnings power valuation. It is a very conservative way of valuing a stock.
Axon Enterprise (XSWX:AXON) Graham Number Explanation
Ben Graham actually did not publish a formula like this. But he wrote in The Intelligent Investor (1948 version) regarding to the criteria for purchases:
Current price should not be more than 15 times average earnings of the past three years.
Current price should not be more than 1.5 times the book value last reported. However, a multiplier of earnings below 15 could justify a correspondingly higher multiplier of assets. As a rule of thumb we suggest that the product of the multiplier times the ratio of price to book value should not exceed 22.5. (This figure corresponds to 15 times earnings and 1.5 times book value. It would admit an issue selling at only 9 times earnings and 2.5 times asset value, etc.)
Unlike valuation methods such as DCF or Discounted Earnings, the Graham number does not take growth into the valuation. Unlike the valuation methods based on book value alone, it takes into account the earnings power. Therefore, the Graham Number is a combination of asset valuation and earnings power valuation.
In general, the Graham number is a very conservative way of valuing a stock. It cannot be applied to companies with negative book values.
Axon Enterprise's Price to Graham number Ratio for today is calculated as
Price to Graham number
=
Share Price (Today)
/
Graham number (Q: Mar. 2026 )
=
476.80
/
51.45
=
9.27
* 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.
Be Aware
Please keep these in mind:
1. Graham Number does not take growth into account. Therefore it underestimates the values of the companies that have good earnings growth. We feel that if the earnings per share grows more than 10% a year, Graham Number underestimates the value.
2. Graham Number punishes the companies that have temporarily low earnings. Therefore, an average of earnings makes more sense in the calculation of Graham Number.
3. Graham Numbers underestimates companies that are light with book.
Axon Enterprise Graham Number Related Terms
Axon Enterprise Graham Number Historical Data
* Premium members only.
The historical data trend for Axon Enterprise's Graham Number 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.
For the Aerospace & Defense subindustry, Axon Enterprise's Price-to-Graham-Number, along with its competitors' market caps and Price-to-Graham-Number 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 Price-to-Graham-Number vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Axon Enterprise's Price-to-Graham-Number distribution charts can be found below:
* The bar in red indicates where Axon Enterprise's Price-to-Graham-Number falls into.
* 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 (XSWX:AXON) has a Graham Number of CHF51.45 as of Mar. 2026. The Graham Number values a company based on its per-share earnings and book value. View historical data on Axon Enterprise and its competitors. This is 715% above median its historical median of 6.31. Over the past decade, Axon Enterprise's Graham Number has ranged from 3.25 to 15.79. According to the industry distribution chart, Axon Enterprise ranks #197 out of 214 companies in the Aerospace & Defense industry, placing it in the top 92.1%.
Is Axon Enterprise's Graham Number too high?
Axon Enterprise's current Graham Number of CHF51.45 is 715% above median its 10-year median of 6.31. Over the past 10 years, this metric has ranged from a low of 3.25 to a high of 15.79. Based on the distribution chart, Axon Enterprise ranks #197 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, reflecting its overall financial health beyond just this single metric.
How does Axon Enterprise's Graham Number compare to ?
According to the Aerospace & Defense industry distribution chart, Axon Enterprise ranks #197 out of 214 companies for Graham Number. This places Axon Enterprise in the lower half of its industry. The industry median Graham Number is 3.07. Historically, Axon Enterprise's own Graham Number has ranged from 3.25 to 15.79 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Graham Number for an Aerospace & Defense company?
The median Graham Number among Aerospace & Defense companies is 3.07, based on 214 companies in the industry. Companies in the top quartile (top 25%) have a Graham Number significantly above this median, while those in the bottom quartile fall well below. However, Graham Number should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Graham Number mean?
A high Graham Number can signal that a stock is expensive relative to its fundamentals. The Graham Number values a company based on its per-share earnings and book value. View historical data on Axon Enterprise and its competitors. For the Aerospace & Defense industry, the median Graham Number is 3.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Axon Enterprise's current Graham Number is CHF51.45, which is 715% above median its own 10-year median of 6.31. 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?
Axon Enterprise (XSWX:AXON) has a current Graham Number of CHF51.45. The stock's GF Value™ is CHF482.93, compared to a current price of CHF476.80 — trading 1.3% below its estimated fair value. The current Graham Number is CHF51.45, which is 715% above median its 10-year median of 6.31. 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 Graham Number calculated?
Graham Number is calculated from a company's financial statements. For Axon Enterprise (XSWX:AXON), the current Graham Number is CHF51.45 as of Mar. 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 (XSWX:AXON) Overvalued in 2026?
Based on GuruFocus' analysis, Axon Enterprise stock appears to be undervalued.
The current stock price of CHF476.80 is trading 1.3% below its estimated GF Value™ of CHF482.93.
Key valuation signals for XSWX:AXON:
Graham Number: CHF51.45 (715% above median its 10-year median of 6.31)
GF Value™: CHF482.93 vs. price of CHF476.80 (1.3% below fair value)
No single metric tells the full story. See the XSWX: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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