Axon Enterprise Inc. (AXON)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	677,113	673,967	—	—	—
Total assets	US$ in thousands	3,436,840	2,851,890	1,688,210	1,381,020	845,639
Debt-to-assets ratio		0.20	0.24	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $677,113K ÷ $3,436,840K
= 0.20

The debt-to-assets ratio for Axon Enterprise Inc has been showing a consistent trend over the past five years. In 2023, the ratio stands at 0.20, indicating that 20% of the company's assets are financed by debt. This signifies a slight decrease from the previous year's ratio of 0.24.

Notably, the ratios for the years 2021, 2020, and 2019 were all 0.00, suggesting that the company had no debt relative to its assets during those periods. The sudden increase in the ratio in 2022 and the subsequent decrease in 2023 could signal a strategic shift in the company's capital structure or funding policies.

Overall, a debt-to-assets ratio of 0.20 indicates that Axon Enterprise Inc relies moderately on debt financing to support its asset base, which could carry certain financial risks but also provides opportunities for growth and leveraging resources. Continued monitoring of this ratio will be crucial to assess the company's financial health and management of its debt levels.