Axe Compute Inc. is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
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~$4.5
Price-to-book vs peers
Base case. Range ~$4.5–$13. Book value per share times peers' typical (harmonic-mean) price-to-book.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Axe Compute Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Axe Compute has little or no product revenue yet; it used $5m of cash in the twelve months to June 2026. That growth ranks 1 of 38 among the asset management & custody banks companies we cover. Our price-to-book vs peers value is $2.34 a share, against a share price of $8.88.
Source: 10-Q filed August 14, 2026 on SEC EDGAR · Financials · Valuation
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Axe Compute Inc.'s trailing-twelve-month revenue grew 2495.7% year on year, with a free-cash-flow margin of -163.9%. Where it stands out: revenue growth of 2495.7% ranks 1 of 43 asset management & custody banks companies we cover. Where it lags: operating margin of -6161.5% ranks 27 of 27 asset management & custody banks companies we cover.
Current signal Capital expenditure surging: TTM capex grew 264196% year over year and now absorbs 524.8% of revenue.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
The company also guided to annualized run rate (arr) of $696.00m for the upon full deployment.
We value Axe Compute Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 11.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.44 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$4.5 ~$4.6–$13 | Included |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: pays no regular dividend |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$4.5 ~$4.5–$13 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Axe Compute Inc. with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$1.74 | +87% | $60m | — |
| Next | −$0.11 | +94% | $431m | +614% |
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| AGPU | +30% | −68% | −46% | −75% | −42% | +6% |
| Industry peers (median) | +33% | −17% | +19% | +15% | −4% | −6% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| AGPU | 42% | 25% | 50% | 42% | 42% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| AGPU | −62% | −78% | −79% | −85% | −85% | −80% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since November 2, 2015: 100% from November 9, 2015 to March 18, 2026. Getting back needed a 28936070% gain, and the shares have not yet recovered.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 14, 2026 | +27.2% | −0.7% | +22.3% | +32.4% |
| May 18, 2026 | −18.6% | −0.7% | +18.3% | +6.5% |
| March 31, 2026 | +142.2% | +3.7% | +206.1% | +302.0% |
| November 14, 2025 | −6.5% | −0.9% | −0.3% | −15.7% |
| August 14, 2025 | −1.6% | −0.2% | +5.3% | +7.2% |
| May 15, 2025 | +0.9% | +1.1% | −8.4% | −10.3% |
| April 1, 2025 | −7.9% | +0.9% | −35.5% | −23.0% |
| November 13, 2024 | −6.0% | −0.6% | −17.0% | −0.9% |
| August 14, 2024 | −5.3% | +2.0% | −2.0% | −9.1% |
| May 15, 2024 | −3.4% | +1.0% | −6.3% | −29.9% |
| March 28, 2024 | −18.3% | −0.2% | −31.1% | −51.8% |
| November 14, 2023 | −0.6% | +2.2% | −5.6% | −3.1% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q3 | $1.8M |
| FY23 Q4 | $1.7M |
| FY24 Q1 | $1.5M |
| FY24 Q2 | $1.1M |
| FY24 Q3 | $395.6K |
| FY24 Q4 | $84.8K |
| FY25 Q1 | $190.3K |
| FY25 Q2 | $125.7K |
| FY25 Q3 | $125.4K |
| FY25 Q4 | $125.3K |
| FY26 Q1 | $50.3K |
| FY26 Q2 | $3.3M |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q3 | 9.4% |
| FY23 Q4 | 14.7% |
| FY24 Q1 | 4.2% |
| FY24 Q2 | -31.0% |
| FY24 Q3 | -77.7% |
| FY24 Q4 | -95.1% |
| FY25 Q1 | -87.2% |
| FY25 Q2 | -88.2% |
| FY25 Q3 | -68.3% |
| FY25 Q4 | 47.7% |
| FY26 Q1 | -73.6% |
| FY26 Q2 | 2495.7% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q3 | -1024.0% |
| FY23 Q4 | -763.9% |
| FY24 Q1 | -892.1% |
| FY24 Q2 | -1105.3% |
| FY24 Q3 | -2838.6% |
| FY24 Q4 | -12149.1% |
| FY25 Q1 | -4735.0% |
| FY25 Q2 | -7322.8% |
| FY25 Q3 | -8232.4% |
| FY25 Q4 | -144404.5% |
| FY26 Q1 | -370602.3% |
| FY26 Q2 | -6161.5% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q3 | -759.1% |
| FY23 Q4 | -765.3% |
| FY24 Q1 | -883.7% |
| FY24 Q2 | -1176.2% |
| FY24 Q3 | -2810.7% |
| FY24 Q4 | -11923.5% |
| FY25 Q1 | -4036.2% |
| FY25 Q2 | -6170.8% |
| FY25 Q3 | -6375.0% |
| FY25 Q4 | -7882.9% |
| FY26 Q1 | -25171.8% |
| FY26 Q2 | -163.9% |
| Fiscal year | 2010 Dec 2010 | 2011 Dec 2011 | 2012 Dec 2012 | 2013 Dec 2013 | 2014 Dec 2014 | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | |||||||||||||||||
| Revenue | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 0 | 0 | 3 |
| Gross profit | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| EBITDA | — | — | — | — | — | — | — | — | −8 | −22 | −24 | −19 | −25 | −12 | −10 | −181 | −201 |
| Operating income | — | — | — | — | — | — | — | — | −8 | −23 | −25 | −20 | −26 | −12 | −10 | −181 | −201 |
| Net income | −1 | −4 | −7 | −9 | −7 | −5 | −7 | −6 | −10 | −19 | −26 | −20 | −26 | −14 | −13 | −233 | −253 |
| Diluted EPS | −$0.00 | −$1687.50 | −$3093.75 | −$130500.00 | −$0.29 | −$11572.50 | −$866.25 | −$0.12 | −$590.25 | $514.50 | $663.00 | $0.36 | — | — | — | — | — |
| Growth (year on year) | |||||||||||||||||
| Revenue | — | +>999% | +95.3% | +148.0% | +103.3% | −31.2% | −30.2% | +43.4% | +115.6% | −0.0% | −11.3% | +13.4% | +6.0% | +8.1% | −94.8% | +47.7% | +>999% |
| Margins | |||||||||||||||||
| Gross margin | 51.4% | 42.0% | 31.9% | 59.5% | 59.5% | 53.5% | 60.2% | 77.4% | 70.5% | 62.3% | 64.3% | 65.7% | 66.4% | 62.6% | — | 42.0% | 7.1% |
| EBITDA margin | — | — | — | — | — | — | — | — | −546.4% | <−999% | <−999% | <−999% | <−999% | −729.4% | <−999% | <−999% | <−999% |
| Operating margin | — | — | — | — | — | — | — | — | −556.9% | <−999% | <−999% | <−999% | <−999% | −744.5% | <−999% | <−999% | <−999% |
| Net margin | <−999% | <−999% | <−999% | <−999% | −718.1% | −732.1% | <−999% | −916.7% | −714.5% | <−999% | <−999% | <−999% | <−999% | −859.1% | <−999% | <−999% | <−999% |
| Free-cash-flow margin | <−999% | <−999% | −627.3% | −858.3% | −365.0% | <−999% | −967.0% | −687.9% | −387.2% | −619.1% | <−999% | −923.5% | −849.6% | −811.6% | <−999% | <−999% | −163.9% |
| Cash flow | |||||||||||||||||
| Cash from operations | −1 | −2 | −1 | −4 | −3 | −7 | −4 | −4 | −5 | −9 | −12 | −12 | −12 | −13 | −10 | −10 | 12 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 17 |
| Free cash flow | −1 | −2 | −1 | −4 | −3 | −8 | −4 | −5 | −5 | −9 | −13 | −13 | −13 | −13 | −10 | −10 | −5 |
| Stock-based pay | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 2 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 1 | 2 |
| Free cash flow after stock pay | −1 | −2 | −1 | −4 | −4 | −8 | −5 | −7 | −7 | −11 | −13 | −14 | −13 | −13 | −10 | −11 | −7 |
| Balance sheet | |||||||||||||||||
| Cash | 0 | 0 | 0 | 0 | 0 | 5 | 2 | 1 | 0 | 0 | 1 | 28 | 22 | 9 | 1 | 11 | 22 |
| Total debt | 1 | 2 | 1 | 0 | 0 | 0 | 0 | 0 | 2 | 11 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Net debt (negative = net cash) | 1 | 2 | 1 | −0 | −0 | −5 | −2 | −1 | 1 | 11 | −1 | −28 | −22 | −9 | −1 | −11 | −21 |
| Diluted shares | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 17m | — |
| Returned to shareholders | |||||||||||||||||
| Buybacks | — | — | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | — | — |
| Total returned | — | — | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | — | — |
| Quarter | 2024 Q3 Sept 2024 | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Gross profit | −0 | 1 | 0 | −0 | −0 | 0 | 0 | 0 |
| EBITDA | −2 | −2 | −2 | −3 | −3 | −173 | −8 | −17 |
| Operating income | −2 | −2 | −2 | −3 | −3 | −173 | −8 | −17 |
| Net income | −3 | −2 | −2 | −2 | −78 | −151 | −8 | −17 |
| Growth (year on year) | ||||||||
| Revenue | −99.4% | −97.2% | +>999% | −96.0% | −7.4% | −1.3% | −68.0% | +>999% |
| Margins | ||||||||
| Gross margin | −186.1% | — | 59.1% | −579.4% | −131.0% | 89.3% | 80.8% | 6.3% |
| EBITDA margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −538.2% |
| Operating margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −539.0% |
| Net margin | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | <−999% | −535.2% |
| Free-cash-flow margin | <−999% | <−999% | −893.7% | <−999% | <−999% | <−999% | <−999% | 124.9% |
| Cash flow | ||||||||
| Cash from operations | −1 | −2 | −1 | −3 | −2 | −4 | −4 | 21 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17 |
| Free cash flow | −1 | −2 | −1 | −3 | −2 | −4 | −4 | 4 |
| Stock-based pay | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
| Free cash flow after stock pay | −1 | −2 | −1 | −3 | −2 | −5 | −4 | 3 |
| Last 12 months unless stated | AGPU | GROW | DFDV | GEG | NAKA | TONX | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $3m | $14m | $15m | $28m | $28m | $30m | $858m |
| Revenue growth, last 12 months | >999% | 32.8% | 328.6% | 70.2% | >999% | 592.3% | 17.2% |
| Revenue growth, 3-year average | 28.2% | −1.5% | 94.4% | 3.0% | — | 163.9% | 10.2% |
| Revenue growth, latest quarter | >999% | 57.9% | 66.9% | 88.3% | >999% | 607.4% | 14.4% |
| Gross margin | 7.1% | — | 97.8% | — | — | 83.1% | 80.2% |
| Operating margin | <−999% | −4.2% | −866.5% | −50.4% | <−999% | −115.6% | 25.8% |
| Operating margin, 3-year average | <−999% | −12.0% | −233.9% | −47.8% | −664.9% | <−999% | 18.8% |
| Net margin | <−999% | 21.2% | <−999% | −127.6% | <−999% | −532.8% | 15.2% |
| Cash from operations / revenue | 360.9% | 5.2% | −198.9% | 56.4% | −169.5% | −94.7% | 26.4% |
| Free-cash-flow margin | −163.9% | 5.2% | −198.9% | 51.8% | −169.5% | −94.8% | 21.9% |
| Free-cash-flow margin, 3-year average | <−999% | 1.5% | −149.5% | −34.8% | −140.9% | <−999% | 17.6% |
| Stock pay / revenue | 54.5% | 0.1% | 20.6% | 8.2% | 20.2% | 78.4% | 3.7% |
| Change in share count | 20.4% | −4.9% | — | 19.8% | 937.0% | >999% | −0.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 2495.7% | 17.2% | 1 of 43 |
| Change in growth rate Growth | +2569.3pp | +1.0pp | 1 of 43 |
| Operating margin Profitability | -6161.5% | 23.7% | 27 of 27 |
| Net margin Profitability | -7769.8% | 15.2% | 43 of 43 |
| Stock pay as % of revenue Cash generation | 54.5% | 4.3% | 38 of 40 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | Share | YoY |
|---|---|---|---|
| Drug Discovery Services | $84,812 | 100.0% | — |
| Compute Services and Treasury Management | $0 | 0.0% | — |
From Axe Compute Inc.'s 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Jane Street Group, LLC | $1M | 137K | 30.2% | New |
| Diametric Capital, LP | $603,633 | 80K | 17.6% | ▼ 41.8% |
| Vanguard Capital Management LLC | $435,297 | 57K | 12.7% | ▲ 443.5% |
| Geode Capital Management, LLC | $309,050 | 41K | 9.0% | ▼ 12.7% |
| Vanguard Fiduciary Trust Co | $177,054 | 23K | 5.1% | ▲ 65.4% |
| State Street Corp | $163,144 | 22K | 4.7% | New |
| Xtx Topco Ltd | $148,371 | 20K | 4.3% | New |
| Blackrock, Inc. | $144,452 | 19K | 4.2% | New |
| Citadel Advisors LLC | $102,792 | 14K | 3.0% | New |
| Alpine Global Management, LLC | $81,409 | 11K | 2.4% | ▼ 83.4% |
| Citigroup Inc | $78,673 | 10K | 2.3% | New |
| Bank Of Montreal | $75,800 | 10K | 2.2% | New |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Axe Compute Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Zhu Theodore Director | September 8, 2026 | Buy | 5,000 | $10.88 | $54,400 |
| Zhu Theodore Director | September 8, 2026 | Buy | 3,750 | $11.72 | $43,950 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Next expected around November 13, 2026 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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