Axon Enterprise Inc. (AXON)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	174,227	147,139	-60,018	-1,724	882
Total assets	US$ in thousands	3,436,840	2,851,890	1,688,210	1,381,020	845,639
ROA		5.07%	5.16%	-3.56%	-0.12%	0.10%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $174,227K ÷ $3,436,840K
= 5.07%

Axon Enterprise Inc's return on assets (ROA) has shown variability over the past five years. In 2023, the ROA stood at 5.07%, a slight decrease from 5.16% in 2022. This suggests that the company generated a profit of approximately 5.07 cents for every dollar of assets it owns in 2023.

The negative ROA of -3.56% in 2021 indicates that the company incurred a loss on its assets that year. This significant negative return may be a cause for concern and warrants further investigation into the factors contributing to the poor performance.

The ROA improved in 2020 to -0.12% from 0.10% in 2019, although it remained negative. The positive trend suggests that the company may have taken steps to improve its asset utilization and profitability during this period.

Overall, the fluctuating ROA of Axon Enterprise Inc highlights the company's performance in generating profits relative to its total assets over the past five years. Further analysis of the company's financial statements and operational efficiency can provide insights into the factors driving these fluctuations in ROA.