COMP <GO>

AXON vs BRK-A // FREE CASH FLOW YIELD

Axon Enterprise Inc. (NASDAQ) VS. Berkshire Hathaway Inc. (NYSE) • 15-METRIC TALLY: AXON 5 — BRK-A 8

▲ FREE CASH FLOW YIELD LEADER: BRK-A

LAST: $427.77 (-2.35%) • MKT CAP: $35.59B

fcf-yield

0.21%

LAST: $815,600.00 (-0.23%) • MKT CAP: $1.20T

fcf-yield

2.08%

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (AXON VS. BRK-A) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	AXON	BRK-A	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	59.70%	41.00%	+18.70	AXON	/gross-margins <GO>
Return on Invested Capital (ROIC)	-1.30%	8.30%	-9.60	BRK-A	/roic <GO>
EV/EBITDA & P/E Valuation	—	12.7x	—	TIE	/valuation <GO>
Free Cash Flow Yield ACTIVE	0.21%	2.08%	-1.87	BRK-A	/fcf-yield <GO>
Operating Margin	-2.20%	33.00%	-35.20	BRK-A	/operating-margins <GO>
Net Profit Margin	4.50%	27.10%	-22.60	BRK-A	/net-margins <GO>
Revenue Growth (YoY)	33.50%	-1.00%	+34.50	AXON	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	6.62	3.02	+3.60	AXON	/balance-sheet <GO>
Piotroski F-Score Quality	8/9	6/9	+2.00	AXON	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	7.10%	7.30%	-0.20	AXON	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	49.4	67.2	-17.74	BRK-A	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	1.06	1.13	-0.07	BRK-A	/macro-sensitivity <GO>
Forward P/E Multiple	140.0x	16.7x	+123.30	BRK-A	/forward-pe <GO>
Enterprise Scale & Market Cap	$35.59B	$1.20T	-$1.17T	BRK-A	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	AXON REV	BRK-A REV	AXON GROSS %	BRK-A GROSS %	AXON FCF	BRK-A FCF
FY 2025	$2.78B	$247.24B	59.7%	44.0%	$75.1M	$25.04B
FY 2024	$2.08B	$249.71B	59.6%	44.0%	$329.5M	$11.62B
FY 2023	$1.56B	$254.91B	44.0%	44.0%	$119.0M	$37.73B

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

AXON // BETA 1.06

BRK-A // BETA 1.13