ITRI vs. AXON

Last updated Jun 4, 2026

ITRI (Itron, Inc.) and AXON (Axon Enterprise, Inc.) are both stocks. ITRI operates in Scientific & Technical Instruments (Technology), while AXON operates in Aerospace & Defense (Industrials). Over the past 10 years, ITRI returned 6.33%/yr vs 35.69%/yr for AXON. At a 0.28 correlation, their price movements are largely independent.

Performance

ITRI vs. AXON - Performance Comparison

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

Returns By Period

In the year-to-date period, ITRI achieves a -11.57% return, which is significantly higher than AXON's -15.22% return. Over the past 10 years, ITRI has underperformed AXON with an annualized return of 6.33%, while AXON has yielded a comparatively higher 35.69% annualized return.

ITRI

• 1D: -2.16%
• 1M: -2.49%
• YTD: -11.57%
• 6M: -16.49%
• 1Y: -31.28%
• 3Y*: 5.66%
• 5Y*: -2.89%
• 10Y*: 6.33%

AXON

• 1D: -1.76%
• 1M: 22.28%
• YTD: -15.22%
• 6M: -11.42%
• 1Y: -36.57%
• 3Y*: 35.57%
• 5Y*: 27.81%
• 10Y*: 35.69%

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

ITRI vs. AXON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITRI Itron, Inc.	-11.57%	-14.48%	43.80%	49.08%	-26.08%	-28.55%	14.23%	77.52%	-30.66%	8.51%
AXON Axon Enterprise, Inc.	-15.22%	-4.44%	130.06%	55.69%	5.69%	28.13%	67.21%	67.50%	65.09%	9.32%

Correlation

The correlation between ITRI and AXON is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 8, 2001	0.28

The correlation between ITRI and AXON shifts across timeframes, from 0.28 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ITRI : $3.73B AXON : $39.71B
EPS ITRI : $6.27 AXON : $2.41
PE Ratio ITRI : 13.10 AXON : 200.16
PEG Ratio ITRI : 0.23 AXON : 0.06
PS Ratio ITRI : 1.61 AXON : 13.84
PB Ratio ITRI : 2.32 AXON : 11.24
Total Revenue (TTM) ITRI : $2.35B AXON : $2.98B
Gross Profit (TTM) ITRI : $906.61M AXON : $1.77B
EBITDA (TTM) ITRI : $363.22M AXON : $156.24M

Return for Risk

ITRI vs. AXON — Risk / Return Rank

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

ITRI

ITRI Risk / Return Rank: 12
ITRI Sharpe Ratio Rank: 9
ITRI Sortino Ratio Rank: 12
ITRI Omega Ratio Rank: 10
ITRI Calmar Ratio Rank: 14
ITRI Martin Ratio Rank: 13

AXON

AXON Risk / Return Rank: 16
AXON Sharpe Ratio Rank: 12
AXON Sortino Ratio Rank: 14
AXON Omega Ratio Rank: 14
AXON Calmar Ratio Rank: 19
AXON Martin Ratio Rank: 18

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.

ITRI vs. AXON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Itron, Inc. (ITRI) and Axon Enterprise, Inc. (AXON). 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.

	ITRI	AXON	Difference
Sharpe ratio Return per unit of total volatility	-0.79	-0.67	-0.12
Sortino ratio Return per unit of downside risk	-0.90	-0.79	-0.11
Omega ratio Gain probability vs. loss probability	0.86	0.90	-0.04
Calmar ratio Return relative to maximum drawdown	-0.72	-0.61	-0.11
Martin ratio Return relative to average drawdown	-1.24	-1.06	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITRI vs. AXON - Sharpe Ratio Comparison

The current ITRI Sharpe Ratio is -0.79, which is comparable to the AXON Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of ITRI and AXON, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ITRI	AXON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.79	-0.67	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.58	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.73	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.52	-0.42

Drawdowns

ITRI vs. AXON - Drawdown Comparison

The maximum ITRI drawdown since its inception was -94.36%, roughly equal to the maximum AXON drawdown of -91.78%. Use the drawdown chart below to compare losses from any high point for ITRI and AXON.

Drawdown Indicators

	ITRI	AXON	Difference
Max Drawdown Largest peak-to-trough decline	-94.36%	-91.78%	-2.58%
Max Drawdown (1Y) Largest decline over 1 year	-43.64%	-60.28%	+16.64%
Max Drawdown (3Y) Largest decline over 3 years	-43.64%	-60.28%	+16.64%
Max Drawdown (5Y) Largest decline over 5 years	-58.57%	-60.28%	+1.71%
Max Drawdown (10Y) Largest decline over 10 years	-65.26%	-60.28%	-4.98%
Current Drawdown Current decline from peak	-40.67%	-44.72%	+4.05%
Average Drawdown Average peak-to-trough decline	-46.58%	-43.59%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.36%	34.48%	-9.12%

Volatility

ITRI vs. AXON - Volatility Comparison

The current volatility for Itron, Inc. (ITRI) is 9.06%, while Axon Enterprise, Inc. (AXON) has a volatility of 19.59%. This indicates that ITRI experiences smaller price fluctuations and is considered to be less risky than AXON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITRI	AXON	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.06%	19.59%	-10.53%
Volatility (6M) Calculated over the trailing 6-month period	25.59%	43.35%	-17.76%
Volatility (1Y) Calculated over the trailing 1-year period	39.74%	54.98%	-15.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.81%	47.85%	-5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.27%	49.10%	-5.83%

Dividends

ITRI vs. AXON - Dividend Comparison

Neither ITRI nor AXON has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

ITRI vs. AXON - Profitability Comparison

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

ITRI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Itron, Inc. reported a gross profit of 236.32M and revenue of 586.98M. Therefore, the gross margin over that period was 40.3%.

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%.

ITRI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Itron, Inc. reported an operating income of 67.58M and revenue of 586.98M, resulting in an operating margin of 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%.

ITRI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Itron, Inc. reported a net income of 53.46M and revenue of 586.98M, resulting in a net margin of 9.1%.

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%.

Frequently Asked Questions

Can I hold both ITRI and AXON in my portfolio?

ITRI and AXON have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITRI or AXON?

AXON has higher volatility (19.59%) compared to ITRI (9.06%). In terms of maximum drawdown, ITRI dropped -94.36% vs AXON's -91.78%.

Which has better risk-adjusted returns?

AXON currently has the higher Sharpe Ratio (-0.67 vs -0.79), 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.