Axon Enterprise Inc. (AXON)

Debt-to-assets ratio

		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
Long-term debt	US$ in thousands	677,113	676,315	675,518	674,724	673,967	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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
Debt-to-assets ratio		0.20	0.21	0.22	0.22	0.24	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	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 of Axon Enterprise Inc has been fairly consistent over the past eight quarters, ranging from 0.20 to 0.24. This ratio indicates that the company's level of debt relative to its total assets has been relatively stable.

Although there was a slight increase in the debt-to-assets ratio from 0.20 in Q4 2023 to 0.24 in Q4 2022, it remained within a reasonable range for the industry. Notably, the company experienced no debt relative to assets in Q2 and Q3 of 2022, suggesting strong financial health during that period.

Overall, the debt-to-assets ratio suggests that Axon Enterprise Inc has a conservative approach to financing its operations, maintaining a balance between debt and assets. It is important for investors and stakeholders to monitor this ratio over time to ensure the company's financial stability and continued ability to meet its debt obligations.