Fox Factory Holding Corp. (FOXF) 10-Year Financial Performance & Capital Metrics

FOXF • • Industrial / General

Consumer CyclicalAuto Parts & EquipmentSpecialty Vehicle ComponentsSpecialty & Performance Parts

AboutFox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers mid-end and high-end front fork and rear suspension products for mountain bikes, road bikes, and e-bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks. It also provides mountain and road bike wheels, and other performance cycling components, including cranks, chain rings, pedals, bars, stems, and seat posts, as well as sells aftermarket products to dealers and distributors. The company offers powered vehicles under the FOX, BDS Suspension, Zone Offroad, JKS Manufacturing, RT Pro UTV, 4x4 Posi-Lok, Ridetech, Tuscany, Outside Van, and SCA brands; and mountain bikes and road bikes under the FOX, Race Face, Easton Cycling, and Marzocchi brands. Fox Factory Holding Corp. was incorporated in 2007 and is headquartered in Duluth, Georgia.Show more

Revenue $1.39B -4.8%
EBITDA $141M -35.4%
Net Income $7M -94.6%
EPS (Diluted) 0.16 -94.4%
Gross Margin 30.39% -4.3%
EBITDA Margin 10.13% -32.2%
Operating Margin 4.14% -62.2%
Net Margin 0.47% -94.3%
ROE 0.54% -94.8%
ROIC 2.31% -70.4%
Debt/Equity 0.60 -3.1%
Interest Coverage 1.05 -87.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.2%
✓Trading at only 0.7x book value

✗Weaknesses

✗Profits declining 41.2% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.34%

5Y13.17%

3Y2.38%

TTM6.23%

Profit (Net Income) CAGR

10Y-13.42%

5Y-41.18%

3Y-65.81%

TTM-2499.23%

EPS CAGR

10Y-14.08%

5Y-41.72%

3Y-65.42%

TTM-2555.44%

ROCE

10Y Avg17.25%

5Y Avg12.26%

3Y Avg10.34%

Latest2.89%

Peer Comparison

Specialty & Performance Parts

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FOXFFox Factory Holding Corp.	806.77M	19.30	120.63	-4.8%	-17.66%	-26.96%	10.88%	0.60
WKSPWorksport Ltd.	18.57M	2.25	-0.39	454.67%	-134.17%	-96.04%		0.32
HLLYHolley Inc.	503.94M	4.22	-21.10	-8.71%	-4.16%	-5.66%	7.96%	1.32
CREVCarbon Revolution Public Limited Ordinary Shares	3.24M	1.68		86.77%	-79.61%
CREVWCarbon Revolution Public Limited Company Warrant		0.01		86.77%	-309.38%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025
Sales/Revenue+	366.8M	403.08M	475.63M	619.23M	751.02M	890.55M	1.3B	1.6B	1.46B	1.39B
Revenue Growth %	0.2%	0.1%	0.18%	0.3%	0.21%	0.19%	0.46%	0.23%	-0.09%	-0.05%
Cost of Goods Sold+	254.76M	276.69M	321.14M	413.73M	508.29M	601.01M	866.73M	1.07B	999.37M	970.35M
COGS % of Revenue	0.69%	0.69%	0.68%	0.67%	0.68%	0.67%	0.67%	0.67%	0.68%	0.7%
Gross Profit+	112.04M	126.39M	154.49M	205.5M	242.74M	289.55M	432.33M	531.34M	464.81M	423.58M
Gross Margin %	0.31%	0.31%	0.32%	0.33%	0.32%	0.33%	0.33%	0.33%	0.32%	0.3%
Gross Profit Growth %	0.19%	0.13%	0.22%	0.33%	0.18%	0.19%	0.49%	0.23%	-0.13%	-0.09%
Operating Expenses+	69.76M	74.94M	86M	110.96M	129.93M	175.4M	235.42M	284.65M	304.72M	365.91M
OpEx % of Revenue	0.19%	0.19%	0.18%	0.18%	0.17%	0.2%	0.18%	0.18%	0.21%	0.26%
Selling, General & Admin	44.23M	53.49M	62.84M	79.05M	91.79M	123.52M	168.17M	206.9M	225.03M	261.06M
SG&A % of Revenue	0.12%	0.13%	0.13%	0.13%	0.12%	0.14%	0.13%	0.13%	0.15%	0.19%
Research & Development	17M	18.46M	20.18M	25.85M	31.79M	34.29M	46.57M	56.2M	53.18M	60.31M
R&D % of Revenue	0.05%	0.05%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%
Other Operating Expenses	449K	-363K	-360K	6.07M	6.34M	17.58M	20.68M	21.54M	26.51M	44.53M
Operating Income+	35.34M	45.54M	67.04M	94.53M	112.81M	114.15M	196.91M	246.7M	160.09M	57.67M
Operating Margin %	0.1%	0.11%	0.14%	0.15%	0.15%	0.13%	0.15%	0.15%	0.11%	0.04%
Operating Income Growth %	0.02%	0.29%	0.47%	0.41%	0.19%	0.01%	0.73%	0.25%	-0.35%	-0.64%
EBITDA+	43.87M	54.3M	77.32M	108.74M	130.41M	148.08M	240.34M	295.94M	218.69M	141.24M
EBITDA Margin %	0.12%	0.13%	0.16%	0.18%	0.17%	0.17%	0.19%	0.18%	0.15%	0.1%
EBITDA Growth %	0.07%	0.24%	0.42%	0.41%	0.2%	0.14%	0.62%	0.23%	-0.26%	-0.35%
D&A (Non-Cash Add-back)	8.53M	8.75M	10.28M	14.21M	17.61M	33.93M	43.43M	49.24M	58.6M	83.57M
EBIT	35.79M	45.18M	66.68M	94.53M	111.74M	113.82M	196.54M	242.7M	157.98M	55.95M
Net Interest Income+	-1.55M	-2.09M	-2.4M	-3.06M	-3.17M	-9.29M	-8.16M	-8.94M	-19.32M	-54.94M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	1.55M	2.09M	2.4M	3.06M	3.17M	9.29M	8.16M	8.94M	19.32M	54.94M
Other Income/Expense	-1.1M	-2.45M	-2.76M	-3.64M	-4.24M	-9.62M	-8.53M	-12.93M	-21.43M	-56.66M
Pretax Income+	34.24M	43.09M	64.28M	90.89M	108.57M	104.53M	188.38M	233.76M	138.66M	1.01M
Pretax Margin %	0.09%	0.11%	0.14%	0.15%	0.14%	0.12%	0.15%	0.15%	0.09%	0%
Income Tax+	9.29M	7.42M	21.1M	5.52M	14.1M	12.78M	24.56M	28.49M	17.82M	-5.5M
Effective Tax Rate %	0.73%	0.83%	0.67%	0.92%	0.86%	0.87%	0.87%	0.88%	0.87%	6.47%
Net Income+	24.95M	35.67M	43.13M	84.04M	93.03M	90.67M	163.82M	205.28M	120.85M	6.55M
Net Margin %	0.07%	0.09%	0.09%	0.14%	0.12%	0.1%	0.13%	0.13%	0.08%	0%
Net Income Growth %	-0.1%	0.43%	0.21%	0.95%	0.11%	-0.03%	0.81%	0.25%	-0.41%	-0.95%
Net Income (Continuing)	24.95M	35.67M	43.18M	85.37M	94.47M	91.75M	163.82M	205.28M	120.85M	6.51M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	12.96M	14.28M	0	0	0	0	0	-38K
EPS (Diluted)+	0.66	0.94	1.11	2.16	2.38	2.22	3.87	4.84	2.85	0.16
EPS Growth %	-0.1%	0.42%	0.18%	0.95%	0.1%	-0.07%	0.74%	0.25%	-0.41%	-0.94%
EPS (Basic)	0.67	0.97	1.15	2.22	2.43	2.25	3.90	4.86	2.86	0.16
Diluted Shares Outstanding	37.89M	37.8M	38.74M	38.96M	39.16M	40.8M	42.37M	42.38M	42.43M	41.72M
Basic Shares Outstanding	36.99M	36.8M	37.37M	37.8M	38.33M	40.23M	42.02M	42.23M	42.3M	41.68M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025
Total Current Assets+	131.94M	182.91M	202.95M	231.95M	281.81M	581.97M	724.67M	797.67M	768.05M	727.68M
Cash & Short-Term Investments	6.94M	35.28M	35.95M	27.96M	43.74M	245.76M	179.69M	145.25M	83.64M	71.67M
Cash Only	6.94M	35.28M	35.95M	27.96M	43.74M	245.76M	179.69M	145.25M	83.64M	71.67M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	43.66M	61.62M	61.06M	78.88M	91.63M	121.19M	142.04M	200.44M	171.06M	165.83M
Days Sales Outstanding	43.45	55.8	46.86	46.5	44.53	49.67	39.91	45.65	42.64	43.42
Inventory	68.2M	71.24M	84.84M	107.14M	128.5M	127.09M	279.84M	350.62M	371.84M	404.74M
Days Inventory Outstanding	97.72	93.98	96.43	94.52	92.28	77.18	117.85	119.48	135.81	152.24
Other Current Assets	13.13M	14.77M	0	17.97M	5.46M	12.43M	10.46M	13.75M	18.62M	11.85M
Total Non-Current Assets+	146.56M	152.69M	225.34M	253.31M	327.5M	704.59M	791.06M	820.66M	1.47B	1.5B
Property, Plant & Equipment	26.09M	32.26M	43.64M	64.79M	125.85M	189.44M	230.75M	250.31M	321.51M	350.41M
Fixed Asset Turnover	14.06x	12.49x	10.90x	9.56x	5.97x	4.70x	5.63x	6.40x	4.55x	3.98x
Goodwill	57.65M	57.78M	88.44M	88.85M	93.53M	289.35M	323.3M	323.98M	636.57M	639.5M
Intangible Assets	60.85M	57.85M	90.04M	83.97M	81.95M	204.49M	197.02M	178.98M	483.35M	448.87M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	895K	708K	551K	367K	451K	1.95M	4.99M	10.05M	11.53M	21.48M
Total Assets+	278.5M	335.6M	428.29M	485.25M	609.32M	1.29B	1.52B	1.62B	2.24B	2.23B
Asset Turnover	1.32x	1.20x	1.11x	1.28x	1.23x	0.69x	0.86x	0.99x	0.65x	0.62x
Asset Growth %	0.08%	0.21%	0.28%	0.13%	0.26%	1.11%	0.18%	0.07%	0.39%	-0%
Total Current Liabilities+	74.02M	87.04M	86.25M	96.78M	91.81M	165.39M	229.86M	258.89M	221.84M	259.78M
Accounts Payable	32.07M	36.24M	40.81M	55.09M	55.14M	92.4M	99.98M	131.16M	104.15M	144.07M
Days Payables Outstanding	45.95	47.81	46.39	48.6	39.6	56.12	42.11	44.69	38.04	54.19
Short-Term Debt	2.79M	3.63M	5.04M	6.92M	0	12.5M	17.5M	0	14.29M	24.29M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	30.96M	26.14M	24.14M	18.91M	6.57M	10.93M	15.51M	17.07M	20M	21.59M
Current Ratio	1.78x	2.10x	2.35x	2.40x	3.07x	3.52x	3.15x	3.08x	3.46x	2.80x
Quick Ratio	0.86x	1.28x	1.37x	1.29x	1.67x	2.75x	1.94x	1.73x	1.79x	1.24x
Cash Conversion Cycle	95.21	101.97	96.9	92.42	97.21	70.74	115.65	120.44	140.41	141.47
Total Non-Current Liabilities+	52.22M	63.63M	107.2M	67.26M	95.3M	402M	391.79M	238.06M	798.7M	771.39M
Long-Term Debt	45.09M	63.06M	93.61M	52.5M	68M	377.09M	360.95M	200M	729.24M	680.77M
Capital Lease Obligations	0	0	0	0	11.58M	24.91M	0	0	0	0
Deferred Tax Liabilities	0	0	11.2M	12.27M	0	0	0	0	0	0
Other Non-Current Liabilities	6.39M	569K	13.6M	14.76M	15.72M	0	30.83M	38.06M	69.46M	90.61M
Total Liabilities	126.24M	150.66M	193.45M	164.05M	187.12M	567.39M	621.65M	496.95M	1.02B	1.03B
Total Debt+	48.66M	66.68M	98.64M	59.43M	85.83M	421.25M	387.55M	210.31M	757.64M	721.74M
Net Debt	41.72M	31.4M	62.7M	31.47M	42.09M	175.49M	207.86M	65.06M	674M	650.07M
Debt / Equity	0.32x	0.36x	0.40x	0.18x	0.20x	0.59x	0.43x	0.19x	0.62x	0.60x
Debt / EBITDA	1.11x	1.23x	1.28x	0.55x	0.66x	2.84x	1.61x	0.71x	3.46x	5.11x
Net Debt / EBITDA	0.95x	0.58x	0.81x	0.29x	0.32x	1.19x	0.86x	0.22x	3.08x	4.60x
Interest Coverage	22.82x	21.81x	27.98x	30.90x	35.55x	12.28x	24.13x	27.60x	8.29x	1.05x
Total Equity+	152.26M	184.94M	247.79M	335.49M	422.2M	719.17M	894.08M	1.12B	1.22B	1.2B
Equity Growth %	0.18%	0.21%	0.34%	0.35%	0.26%	0.7%	0.24%	0.25%	0.09%	-0.02%
Book Value per Share	4.02	4.89	6.40	8.61	10.78	17.63	21.10	26.46	28.79	28.79
Total Shareholders' Equity	152.26M	184.94M	234.84M	321.2M	422.2M	719.17M	894.08M	1.12B	1.22B	1.2B
Common Stock	37K	37K	38K	38K	39K	42K	42K	42K	42K	42K
Retained Earnings	57.12M	92.8M	135.93M	219.69M	312.49M	394.98M	558.8M	764.08M	878.09M	875.4M
Treasury Stock	-5.81M	-13.75M	-13.75M	-13.75M	-13.75M	-13.75M	-13.75M	-13.75M	-13.75M	-13.75M
Accumulated OCI	-1.95M	-2.19M	-168K	-784K	150K	1.07M	4.88M	14.78M	9.04M	224K
Minority Interest	0	0	12.96M	14.28M	0	0	0	0	0	-38K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jan 2025
Cash from Operations+	30.02M	38.84M	48.17M	65.39M	74.83M	82.72M	65.29M	187.09M	178.74M	131.83M
Operating CF Margin %	0.08%	0.1%	0.1%	0.11%	0.1%	0.09%	0.05%	0.12%	0.12%	0.09%
Operating CF Growth %	-0.09%	0.29%	0.24%	0.36%	0.14%	0.11%	-0.21%	1.87%	-0.04%	-0.26%
Net Income	24.95M	35.67M	43.18M	85.37M	94.47M	91.75M	163.82M	205.28M	120.85M	6.51M
Depreciation & Amortization	13.06M	8.75M	10.28M	14.73M	17.57M	33.93M	45.11M	49.24M	58.6M	83.57M
Stock-Based Compensation	4.91M	6.22M	8.73M	7.32M	6.86M	8.62M	13.91M	16.35M	16.46M	9.61M
Deferred Taxes	-4.36M	-3.02M	-1.16M	-19.29M	-10.62M	-14.07M	-17.09M	-18.45M	-7.87M	-23.31M
Other Non-Cash Items	-463K	307K	98K	64.42M	687K	1.54M	1.63M	-1.9M	17.34M	13.9M
Working Capital Changes	-8.07M	-9.1M	-12.96M	-22.74M	-34.14M	-39.04M	-142.09M	-63.43M	-26.64M	41.56M
Change in Receivables	-5.51M	-17.91M	3.55M	-19.03M	-12.06M	-18.77M	-20.23M	-63.96M	64.53M	10.37M
Change in Inventory	-11.13M	-2.99M	-8.32M	-23M	-17.01M	7.88M	-146.53M	-78.54M	31.61M	-26.5M
Change in Payables	2.14M	9.61M	2.24M	15.19M	-869K	25.89M	10.3M	40.49M	-44.03M	23.23M
Cash from Investing+	-13.16M	-12.22M	-70.46M	-30.2M	-60.33M	-388.52M	-106.73M	-44.73M	-750.4M	-76.29M
Capital Expenditures	-10.89M	-12.02M	-16.86M	-30.2M	-53.53M	-56.74M	-54.85M	-43.7M	-46.85M	-44.04M
CapEx % of Revenue	0.03%	0.03%	0.04%	0.05%	0.07%	0.06%	0.04%	0.03%	0.03%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	145K	0	0	0	0	-250K	0	-320K	-2.43M	-6.46M
Cash from Financing+	-14.05M	1.83M	22.01M	-43.43M	859K	506.72M	-24.1M	-179.14M	508.98M	-67.33M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-7.48M	-7.92M	-5.38M	0	-6.78M	-6.56M	-4.55M	9.57M	-3.35M	-6.04M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	19.13M	26.82M	31.31M	35.19M	21.3M	25.97M	10.44M	143.39M	131.89M	87.79M
FCF Margin %	0.05%	0.07%	0.07%	0.06%	0.03%	0.03%	0.01%	0.09%	0.09%	0.06%
FCF Growth %	-0.32%	0.4%	0.17%	0.12%	-0.39%	0.22%	-0.6%	12.73%	-0.08%	-0.33%
FCF per Share	0.50	0.71	0.81	0.90	0.54	0.64	0.25	3.38	3.11	2.10
FCF Conversion (FCF/Net Income)	1.20x	1.09x	1.12x	0.78x	0.80x	0.91x	0.40x	0.91x	1.48x	20.13x
Interest Paid	1.34M	1.79M	2.01M	2.76M	2.76M	7.17M	6.38M	9.92M	21.15M	57M
Taxes Paid	15.93M	8.88M	15.95M	24.61M	28.29M	26.23M	14.98M	37.49M	44.66M	29.16M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	17.76%	21.16%	19.93%	28.82%	24.56%	15.89%	20.31%	20.37%	10.31%	0.54%
Return on Invested Capital (ROIC)	14.38%	16.65%	19.09%	20.93%	20.36%	12.6%	14.79%	16.17%	7.79%	2.31%
Gross Margin	30.55%	31.36%	32.48%	33.19%	32.32%	32.51%	33.28%	33.16%	31.75%	30.39%
Net Margin	6.8%	8.85%	9.07%	13.57%	12.39%	10.18%	12.61%	12.81%	8.25%	0.47%
Debt / Equity	0.32x	0.36x	0.40x	0.18x	0.20x	0.59x	0.43x	0.19x	0.62x	0.60x
Interest Coverage	22.82x	21.81x	27.98x	30.90x	35.55x	12.28x	24.13x	27.60x	8.29x	1.05x
FCF Conversion	1.20x	1.09x	1.12x	0.78x	0.80x	0.91x	0.40x	0.91x	1.48x	20.13x
Revenue Growth	19.58%	9.89%	18%	30.19%	21.28%	18.58%	45.87%	23.36%	-8.63%	-4.8%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Specialty Sports Group	-	-	-	281.94M	299.77M	366.86M	579.03M	680.97M	389.17M	511.06M
Specialty Sports Group Growth	-	-	-	-	6.32%	22.38%	57.84%	17.60%	-42.85%	31.32%
Powered Vehicles Group	155.09M	176.39M	230.25M	337.28M	451.25M	523.69M	720.03M	921.52M	523.86M	461.4M
Powered Vehicles Group Growth	-	13.73%	30.54%	46.48%	33.79%	16.05%	37.49%	27.98%	-43.15%	-11.92%
Aftermarket Applications Group	-	-	-	-	-	-	-	-	551.14M	421.45M
Aftermarket Applications Group Growth	-	-	-	-	-	-	-	-	-	-23.53%
Bikes	211.7M	226.69M	245.38M	-	-	-	-	-	-	-
Bikes Growth	-	7.08%	8.25%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	163.13M	187.54M	280.86M	388.7M	502.26M	593.27M	811.31M	1.01B	1.13B	1.1B
North America Growth	-	14.97%	49.76%	38.40%	29.22%	18.12%	36.75%	24.39%	11.73%	-2.68%
Europe	71.94M	77M	86.41M	101.22M	120.27M	143.82M	230.49M	320.55M	187.76M	165.04M
Europe Growth	-	7.03%	12.22%	17.14%	18.83%	19.58%	60.27%	39.07%	-41.42%	-12.10%
Asia	101.95M	101M	101.08M	119.14M	120.84M	144.84M	241.03M	252.28M	125.49M	109.07M
Asia Growth	-	-0.93%	0.08%	17.87%	1.42%	19.86%	66.42%	4.66%	-50.26%	-13.08%
the World	29.78M	37.54M	7.29M	10.16M	7.65M	8.63M	16.23M	20.47M	23.34M	22.48M
the World Growth	-	26.04%	-80.58%	39.44%	-24.77%	12.92%	87.95%	26.13%	14.04%	-3.71%

Frequently Asked Questions

Valuation & Price

Fox Factory Holding Corp. (FOXF) has a price-to-earnings (P/E) ratio of 120.6x. This suggests investors expect higher future growth.

Growth & Financials

Fox Factory Holding Corp. (FOXF) reported $1.46B in revenue for fiscal year 2024. This represents a 638% increase from $197.7M in 2011.

Fox Factory Holding Corp. (FOXF) saw revenue decline by 4.8% over the past year.

Fox Factory Holding Corp. (FOXF) reported a net loss of $257.7M for fiscal year 2024.

Dividend & Returns

Fox Factory Holding Corp. (FOXF) has a return on equity (ROE) of 0.5%. This is below average, suggesting room for improvement.

Fox Factory Holding Corp. (FOXF) generated $85.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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