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Fox Factory Holding Corp

FOXF

Motorcycles, Bicycles & Parts

Mkt Cap

$1.787B

PE

14.79

Debt

$380M

Cash

$83.64M

EV

$2.084B

FCF

$131.9M

Market Cap

$1.787B

P/E Ratio

14.79

Debt

$380M

Cash

$83.64M

EV

$2.084B

FCF

$131.9M
Charts data: {"Earnings":[{"time":"2014-12-30","value":27686000},{"time":"2015-12-30","value":24954000},{"time":"2016-12-29","value":35675000},{"time":"2017-12-28","value":43128000},{"time":"2018-12-27","value":84040000},{"time":"2020-01-02","value":93033000},{"time":"2020-12-31","value":90674000},{"time":"2021-12-30","value":163818000},{"time":"2022-12-29","value":205278000},{"time":"2023-12-28","value":120846000}],"Sales":[{"time":"2014-12-30","value":306734000},{"time":"2015-12-30","value":366798000},{"time":"2016-12-29","value":403077000},{"time":"2017-12-28","value":475633000},{"time":"2018-12-27","value":619225000},{"time":"2020-01-02","value":751020000},{"time":"2020-12-31","value":890554000},{"time":"2021-12-30","value":1299064000},{"time":"2022-12-29","value":1602491000},{"time":"2023-12-28","value":1464178000}],"Net Margins":[{"time":"2014-12-30","value":0.09026061669068314},{"time":"2015-12-30","value":0.06803199581240901},{"time":"2016-12-29","value":0.08850666249872853},{"time":"2017-12-28","value":0.09067495316767339},{"time":"2018-12-27","value":0.1357180346400743},{"time":"2020-01-02","value":0.12387552928017896},{"time":"2020-12-31","value":0.10181752033004175},{"time":"2021-12-30","value":0.12610464149572306},{"time":"2022-12-29","value":0.1280993153783703},{"time":"2023-12-28","value":0.08253504696833308}],"Assets":[{"time":"2014-12-30","value":258437000},{"time":"2015-12-30","value":278497000},{"time":"2016-12-29","value":335600000},{"time":"2017-12-28","value":428286000},{"time":"2018-12-27","value":485254000},{"time":"2020-01-02","value":609316000},{"time":"2020-12-31","value":1286561000},{"time":"2021-12-30","value":1515729000},{"time":"2022-12-29","value":1618336000},{"time":"2023-12-28","value":2242298000}],"Stockholders Equity":[{"time":"2014-12-30","value":128806000},{"time":"2015-12-30","value":152260000},{"time":"2016-12-29","value":184937000},{"time":"2017-12-28","value":234835000},{"time":"2018-12-27","value":321205000},{"time":"2020-01-02","value":422200000},{"time":"2020-12-31","value":719171000},{"time":"2021-12-30","value":894082000},{"time":"2022-12-29","value":1121386000},{"time":"2023-12-28","value":1221761000}],"ROE":[{"time":"2014-12-30","value":0.21494340325761221},{"time":"2015-12-30","value":0.16389071325364507},{"time":"2016-12-29","value":0.19290352930998123},{"time":"2017-12-28","value":0.1836523516511593},{"time":"2018-12-27","value":0.2616397627683255},{"time":"2020-01-02","value":0.22035291331122692},{"time":"2020-12-31","value":0.12608127969564958},{"time":"2021-12-30","value":0.18322480488366838},{"time":"2022-12-29","value":0.1830573950450603},{"time":"2023-12-28","value":0.09891132553748237}],"ROA":[{"time":"2014-12-30","value":0.13665225954487942},{"time":"2015-12-30","value":0.12852203075796148},{"time":"2016-12-29","value":0.13570023837902265},{"time":"2017-12-28","value":0.15653325114526276},{"time":"2018-12-27","value":0.19480931635803106},{"time":"2020-01-02","value":0.18514038692566748},{"time":"2020-12-31","value":0.08872412578960501},{"time":"2021-12-30","value":0.12991372468297432},{"time":"2022-12-29","value":0.15243867775295117},{"time":"2023-12-28","value":0.07139595183155852}]}

Fox 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, e-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.

Sector

  • HOG Logo

    HOG

  • LVWR Logo

    LVWR

Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$131.9M$170.8M$216.5M$268.6M$325.8M$386.4M$447.8M$506.8M$559.7M$602.9M$633M$6.33B
DCF$148.5M$163.7M$176.6M$186.3M$192.1M$193.6M$190.5M$183M$171.4M$156.5M$1.565B
Value$3.327B

In the chart Earnings are multiplied by this value.

Earnings Growth 30%
Earnings Stability 93%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201512-201612-201712-201801-202012-202012-202112-202212-2023TTM
Net Margin6.8%8.9%9.1%14%12%10%13%13%8.3%8.3%
ROA13%14%16%19%19%8.9%13%15%7.1%7.1%
ROE16%19%18%26%22%13%18%18%9.9%9.9%

What is the average Net Margin?

The average Net Margin over the past 5 years is +11.64%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -0.65%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +13.71%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -1.93%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +17.89%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -2.48%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201512-201612-201712-201801-202012-202012-202112-202212-2023TTM
Debt FCF2.612.642.191.890.0015.6938.300.002.882.88
Debt Equity0.330.380.290.210.000.570.450.000.310.31
MIN
Graham Stability--100%100%100%100%100%100%79%79%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 2.88.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.79.

What is the Graham’s Stability?

Graham’s Stability measure stands at 0.79.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201612-201812-202012-2022Trend
Revenue20%19%18%-8.6%-0.47%
Net Income19%7.5%10%-41%-2.6%
Stockholders Equity31%31%19%9%0.052%
FCF26%30%72%-8%61%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +18.78%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.47%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +7.53%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -2.6%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +30.63%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +0.05%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +30.25%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is +60.87%.