Axonics Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Axonics Inc (AXNX) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Axonics Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 431M vs 135,105M combined for its competitors (0.3% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+7.3% annualized vs trailing 12 months), vs decelerating (-13.6%) for its tracked peer group.
- Growth: Axonics Inc generated 25.6% revenue growth year over year in Q3 2024, vs 8.3% for its competitors combined.
- Profitability: Its 0.0% net margin compares with 14.4% for the peer group.
- Peer revenue share: Axonics Inc accounted for 0.4% of combined revenue among its tracked peer group, up from 0.3% a year earlier.
- Peer differentiation: Revenue per employee of $1.33M compares with $0.41M for the peer group (3.2x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
AXNX Sales vs. its Competitors, Q3 2024
Axonics Inc reported revenue growth of 25.57 % year on year in Q3 2024, above its competitors' combined revenue growth of 8.29 %.
With a net margin of -0.02 %, Axonics Inc reported lower profitability than its competitors (14.44 %).
Axonics Inc generated 0.39 % of the combined sales of its peer group, up from 0.34 % a year earlier.
API endpoints for this dataset
Axonics Inc vs. its Competitors, Q3 2024
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Axonics Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Axonics Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Axonics Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Axonics Inc's competitor groups requires a Commercial License.
For context: the Medical Equipment & Supplies industry grew revenue 14.4% year over year, combined, vs 25.6% for Axonics Inc. Axonics Inc's share of combined industry revenue moved from 0.09% to 0.10%, a gain of 0.01 percentage points.
Axonics Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Axonics Inc | No | Yes | Yes | No |
| Competitors combined (16) | ||||
| Similar Growth & Profitability (8) | 37.50 % (3 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 12.50 % (1 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
AXNX Stock Performance relative to its Competitors
AXNX Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Pro dex Inc | 282.9% | Outperformed |
| 2 | Neurometrix Inc | 282.9% | Outperformed |
| 3 | Electrocore Inc | 282.9% | Outperformed |
| 4 | Medtronic Plc | 282.9% | Outperformed |
| 5 | Tactile Systems Technology Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Axonics Inc's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Publicly Traded Peers of Axonics Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Axonics Inc |
23.09 | 430.95 |
 Abbott Laboratories |
190,769.94 | 48,229.00 |
 Medtronic Plc |
130,990.24 | 37,542.00 |
 Stryker Corp |
123,594.49 | 26,300.00 |
 Boston Scientific Corporation |
63,960.60 | 21,070.00 |
 Inspire Medical Systems inc |
1,825.44 | 882.19 |
| SUBTOTAL | 513,047.31 | 135,568.22 |
Sign in to see all competitors of Axonics Inc .
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Axonics Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Axonics Inc's Competitors Named by the Company
Competitive relationships identified from Axonics Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Neurometrix Inc | Company report | 85% |
| Electrocore Inc | Company report | 85% |
| Tactile Systems Technology Inc | Company report | 85% |
| Nevro Corp | Company report | 85% |
| Neuropace Inc | Company report | 85% |
| Boston Scientific Corporation | Company report | 85% |
| Clearpoint Neuro Inc | Company report | 85% |
| Medtronic Plc | Company report | 85% |
| Inspire Medical Systems inc | Company report | 85% |
| Pro dex Inc | Company report | 85% |
| Abbott Laboratories | Company report | 85% |
Company report basis, confidence, active dates and source counts for Axonics Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Axonics Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Abbott Laboratories | Diabetes Care 16.79 % |
| Medtronic Plc | CARDIOVASCULAR 38.34 % |
| Stryker Corp | MedSurg and Neurotechnology 56.20 % |
| Boston Scientific Corporation | Cardiovascular 66.29 % |
| Inspire Medical Systems inc | Operating 100.00 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Axonics Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Axonics Inc | 23 | 1,326,009 | -17,415 |
| Abbott Laboratories | 190,770 | 419,383 | 40,878 |
| Medtronic Plc | 130,990 | 395,179 | 55,463 |
| Stryker Corp | 123,594 | 469,643 | 64,696 |
| Boston Scientific Corporation | 63,961 | 357,119 | 59,220 |
| Inspire Medical Systems inc | 1,825 | 661,811 | 75,556 |
| PEERS TOTAL | 513,024 | 409,984 | 51,538 |
Axonics Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Abbott Laboratories | Non-US 57.70 % |
| Medtronic Plc | United States 49.83 % |
| Stryker Corp | United States 75.92 % |
| Boston Scientific Corporation | United States 64.40 % |
| Inspire Medical Systems inc | United States 95.54 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Axonics Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 218 companies in Axonics Inc's industry classification, broader than the peer set above. Market cap in millions of $.Axonics Inc ranks #0 of 218 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 606, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Intuitive Surgical Inc | 162,645 | 13.42 % |
| 2 | Medtronic Plc | 130,990 | 10.81 % |
| 3 | Stryker Corp | 124,012 | 10.23 % |
| 4 | 3m Company | 98,566 | 8.13 % |
| 5 | Boston Scientific Corporation | 1,234 | 5.2% |
| 6 | Edwards Lifesciences Corporation | 1,234 | 5.2% |
| 7 | Becton Dickinson And Company | 1,234 | 5.2% |
| 8 | Alcon inc | 1,234 | 5.2% |
| 9 | Medline Inc | 1,234 | 5.2% |
| 10 | Resmed Inc | 1,234 | 5.2% |
| 0 | Axonics Inc | - | 0.00 % |
Market cap and industry share for the rest of Axonics Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-09.
Axonics Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Equipment & Supplies industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (342 companies). See the full Medical Equipment & Supplies industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 76.76 % | 46.20 % (avg) | +30.6 pp |
| Operating Margin | -4.80 % | industry median | +2.9 pp |
| EBITDA Margin | 2.31 % | -6.66 % (avg) | +9.0 pp |
| Capital Intensity (Capex / Revenue) | 2.07 % | 7.13 % (avg) | -5.1 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Axonics Inc's Valuation vs Competitive Position
Valuation multiples vs the Medical Equipment & Supplies industry average (342 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Medical Equipment & Supplies industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 36.9x | - |
| EV / EBITDA | 122.1x | 17.8x | +104.4x |
| P/B | 2.2x | 4.6x | -2.4x |
| Return on Equity | -0.88 % | industry aggregate | -10.32 % |
| Return on Invested Capital | -1.54 % | -6.78 % (avg) | 5.24 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Axonics Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2019 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenue Growth | - | 61.64 % | 51.81 % | 33.56 % |
| Operating Margin | -583.21 % | -39.83 % | -23.73 % | -7.13 % |
| Return on Invested Capital | -28.60 % | -7.38 % | -6.14 % | -2.09 % |
| P/E | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Axonics Inc's Strategic Group Map
Axonics Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Axonics Inc's trailing-12-month revenue growth of 26.2% and operating margin of -4.8% compares with an average of 25.6% growth and -2.3% margin across its 8 closest peers by combined growth, margin and ROIC -- Axonics Inc sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Axonics Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 606 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 2.07 % vs industry average 7.13 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Axonics Inc's dedicated Suppliers and Customers pages, not here.
Axonics Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Axonics Inc falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Axonics Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+7.3% annualized vs trailing 12 months).
Weaknesses
- Return on equity 10.3 points below the industry aggregate.
- Underperforming the U.S.A. 500 over the trailing 12 months.
Opportunities
- A meaningful share of competitors (37.50 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-13.6% annualized).
Methodology: see Methodology: SWOT Analysis.
Axonics Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Axonics Inc | 3.45 | 9.32 | - |
| Abbott Laboratories | 0.36 | 1.45 | 0.53 |
| Medtronic Plc | 0.15 | 2.10 | 0.57 |
| Stryker Corp | 0.50 | 2.08 | 0.65 |
| Boston Scientific Corporation | 0.23 | 1.50 | 0.46 |
| Inspire Medical Systems inc | 1.48 | 6.74 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Axonics Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Axonics Inc | Q3 2024 | +25.6 % | - |
| Abbott Laboratories | Q3 2026 | +14.5 % | -44.0 % |
| Medtronic Plc | Q2 2026 | +13.7 % | +41.3 % |
| Stryker Corp | Q3 2026 | +7.6 % | -12.3 % |
| Boston Scientific Corporation | Q3 2026 | +1.4 % | -23.2 % |
| Inspire Medical Systems inc | Q3 2026 | -7.6 % | - |
| PEERS TOTAL | +10.7 % | -14.9 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Axonics Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Axonics Inc | Q3 2024 | +13.0 % | +178.0 % |
| Abbott Laboratories | Q3 2026 | +10.9 % | +3.4 % |
| Medtronic Plc | Q2 2026 | +13.8 % | -0.2 % |
| Stryker Corp | Q3 2026 | +3.0 % | +26.7 % |
| Boston Scientific Corporation | Q3 2026 | +12.3 % | -0.6 % |
| Inspire Medical Systems inc | Q3 2026 | -7.0 % | -27.8 % |
Axonics Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Axonics Inc | - | - | - |
| Abbott Laboratories | 4.54% | 5.14% | 9.00% |
| Medtronic Plc | 5.71% | 6.46% | 10.64% |
| Stryker Corp | 7.66% | 8.63% | 15.61% |
| Boston Scientific Corporation | 7.82% | 9.14% | 13.75% |
| Inspire Medical Systems inc | 10.89% | 11.63% | 12.49% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Axonics Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Axonics Inc | - | 0.05 |
| Abbott Laboratories | 40.66 | 3.96 |
| Medtronic Plc | 299.79 | 3.49 |
| Stryker Corp | 34.21 | 4.70 |
| Boston Scientific Corporation | 18.69 | 3.04 |
| Inspire Medical Systems inc | 18.84 | 2.07 |
| PEERS AVERAGE | 30.21 | 3.78 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.