AXON vs. BA

Last updated Jun 13, 2026

AXON (Axon Enterprise, Inc.) and BA (The Boeing Company) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, AXON returned 34.58%/yr vs 6.28%/yr for BA. At a 0.29 correlation, their price movements are largely independent.

Performance

AXON vs. BA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Axon Enterprise, Inc. (AXON) and The Boeing Company (BA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXON achieves a -22.22% return, which is significantly lower than BA's 0.89% return. Over the past 10 years, AXON has outperformed BA with an annualized return of 34.58%, while BA has yielded a comparatively lower 6.28% annualized return.

AXON

• 1D: -1.00%
• 1M: 12.72%
• YTD: -22.22%
• 6M: -21.72%
• 1Y: -43.41%
• 3Y*: 30.96%
• 5Y*: 22.92%
• 10Y*: 34.58%

BA

• 1D: -1.16%
• 1M: -0.65%
• YTD: 0.89%
• 6M: 7.18%
• 1Y: 9.35%
• 3Y*: -0.20%
• 5Y*: -2.40%
• 10Y*: 6.28%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AXON vs. BA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AXON Axon Enterprise, Inc.	-22.22%	-4.44%	130.06%	55.69%	5.69%	28.13%	67.21%	67.50%	65.09%	9.32%
BA The Boeing Company	0.89%	22.67%	-32.10%	36.84%	-5.38%	-5.95%	-33.90%	3.34%	11.50%	94.72%

Correlation

The correlation between AXON and BA is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 7, 2001	0.29

Fundamentals

Market Cap AXON : $36.43B BA : $179.22B
EPS AXON : $2.41 BA : $2.90
PE Ratio AXON : 183.64 BA : 75.49
PEG Ratio AXON : 0.05 BA : 11.83
PS Ratio AXON : 12.70 BA : 1.86
PB Ratio AXON : 10.31 BA : 29.97
Total Revenue (TTM) AXON : $2.98B BA : $92.18B
Gross Profit (TTM) AXON : $1.77B BA : $4.43B
EBITDA (TTM) AXON : $156.24M BA : $7.13B

Return for Risk

AXON vs. BA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AXON

AXON Risk / Return Rank: 13
AXON Sharpe Ratio Rank: 11
AXON Sortino Ratio Rank: 12
AXON Omega Ratio Rank: 12
AXON Calmar Ratio Rank: 16
AXON Martin Ratio Rank: 15

BA

BA Risk / Return Rank: 48
BA Sharpe Ratio Rank: 51
BA Sortino Ratio Rank: 46
BA Omega Ratio Rank: 45
BA Calmar Ratio Rank: 50
BA Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AXON vs. BA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Axon Enterprise, Inc. (AXON) and The Boeing Company (BA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AXON	BA	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	0.24	-1.01
Sortino ratio: Return per unit of downside risk	-1.04	0.58	-1.62
Omega ratio: Gain probability vs. loss probability	0.87	1.07	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.72	0.30	-1.02
Martin ratio: Return relative to average drawdown	-1.22	0.69	-1.91

AXON vs. BA - Sharpe Ratio Comparison

The current AXON Sharpe Ratio is -0.78, which is lower than the BA Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of AXON and BA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AXON vs. BA - Drawdown Comparison

The maximum AXON drawdown since its inception was -91.78%, roughly equal to the maximum BA drawdown of -89.45%. Use the drawdown chart below to compare losses from any high point for AXON and BA.

Drawdown Indicators

	AXON	BA	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-89.45%	-2.33%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-24.96%	-35.32%
Max Drawdown (3Y) Largest decline over 3 years	-60.28%	-48.31%	-11.97%
Max Drawdown (5Y) Largest decline over 5 years	-60.28%	-53.76%	-6.52%
Max Drawdown (10Y) Largest decline over 10 years	-60.28%	-77.92%	+17.64%
Current Drawdown Current decline from peak	-49.28%	-49.09%	-0.19%
Average Drawdown Average peak-to-trough decline	-43.60%	-31.02%	-12.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.34%	10.95%	+24.39%

Volatility

AXON vs. BA - Volatility Comparison

Axon Enterprise, Inc. (AXON) has a higher volatility of 17.73% compared to The Boeing Company (BA) at 12.44%. This indicates that AXON's price experiences larger fluctuations and is considered to be riskier than BA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXON	BA	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.73%	12.44%	+5.29%
Volatility (6M) Calculated over the trailing 6-month period	44.20%	23.39%	+20.81%
Volatility (1Y) Calculated over the trailing 1-year period	55.66%	32.33%	+23.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.94%	36.58%	+11.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.18%	41.61%	+7.57%

Dividends

AXON vs. BA - Dividend Comparison

Neither AXON nor BA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AXON Axon Enterprise, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BA The Boeing Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.96%	2.52%	2.12%	1.93%	2.80%	2.52%

Financials

AXON vs. BA - Profitability Comparison

The chart below illustrates the profitability comparison between Axon Enterprise, Inc. and The Boeing Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AXON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported a gross profit of 477.29M and revenue of 807.35M. Therefore, the gross margin over that period was 59.1%.

BA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a gross profit of 2.55B and revenue of 22.22B. Therefore, the gross margin over that period was 11.5%.

AXON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported an operating income of 29.24M and revenue of 807.35M, resulting in an operating margin of 3.6%.

BA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported an operating income of 448.00M and revenue of 22.22B, resulting in an operating margin of 2.0%.

AXON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported a net income of 169.31M and revenue of 807.35M, resulting in a net margin of 21.0%.

BA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Boeing Company reported a net income of -4.00M and revenue of 22.22B, resulting in a net margin of -0.0%.

Frequently Asked Questions

Can I hold both AXON and BA in my portfolio?

AXON and BA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AXON or BA?

AXON has higher volatility (17.73%) compared to BA (12.44%). In terms of maximum drawdown, AXON dropped -91.78% vs BA's -89.45%.

Which has better risk-adjusted returns?

BA currently has the higher Sharpe Ratio (0.24 vs -0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.