Damage refers to the damage per single shot/hit of your weapon.
What weapon stats mean in Fallout 4 Fallout 4 Weapon Damage We spent an unholy amount of time at the weapons bench getting this info. Modifying weapons in Fallout 4 is an essential but complex part of the game, so to make it (hopefully) less complex we’ve explained how weapon stats work, how mods change those stats, and what you need to build them.