Axon Enterprise Inc. (AXON)

Return on assets (ROA)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	174,227	146,131	98,865	137,407	147,139	104,456	140,849	42,770	-60,018	-20,676	-70,073	-53,715	-1,724	-39,937	-32,960	-1,463	882	15,344	14,951	22,698
Total assets	US$ in thousands	3,436,840	3,254,180	3,077,400	3,007,950	2,851,890	2,010,430	1,932,020	1,772,450	1,688,210	1,645,390	1,526,890	1,404,860	1,381,020	1,279,150	1,232,910	877,451	845,639	792,304	746,370	739,195
ROA		5.07%	4.49%	3.21%	4.57%	5.16%	5.20%	7.29%	2.41%	-3.56%	-1.26%	-4.59%	-3.82%	-0.12%	-3.12%	-2.67%	-0.17%	0.10%	1.94%	2.00%	3.07%

December 31, 2023 calculation

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

The return on assets (ROA) for Axon Enterprise Inc has exhibited fluctuations over the past eight quarters. In Q2 2022, the ROA was notably high at 7.29%, indicating strong efficiency in generating profits relative to its total assets. However, this figure declined in subsequent quarters, hitting a low of 2.41% in Q1 2022.

Throughout 2023, the ROA showed mixed results. The values ranged from 3.21% in Q2 to 5.07% in Q4. The fourth quarter of 2023 saw a modest increase in ROA compared to the previous quarter, indicating improved profitability in utilizing assets to generate earnings.

Overall, the fluctuating trend in Axon Enterprise Inc's ROA suggests varying levels of effectiveness in generating profits from its assets over the analyzed period. Further analysis would be required to pinpoint the specific factors driving these changes and to assess the company's asset management strategies in greater detail.