FOX FACTORY HOLDING CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data FOX FACTORY HOLDING CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	403	476	619	751	891	1,299	1,602	1,464	1,394	1,467
Cost of revenue	277	321	414	508	601	867	1,071	999	970	1,024
Gross profit	126	154	205	243	290	432	531	465	424	443
Research and development	18.5	20.2	25.8	31.8	34.3	46.6	56.2	53.2	60.3	69.4
Selling and marketing	25.8	27.9	37.3	42.8	52.2	70.9	90.8	100	121	132
General and administrative	27.7	34.9	41.8	49	71.3	97.2	116	125	140	152
Operating expenses	80.8	87.4	111	130	175	235	285	305	366	966
Operating income	45.5	67	94.5	113	114	197	247	160	57.7	-523
Interest expense	2.09	2.4	3.06	3.17	9.29	8.16	8.94	19.3	54.9	53.7
Other non-operating income	-2.45	-2.76	-3.64	-4.24	-9.62	-8.53	-12.9	-20.4	-55.5	0.31
Pre-tax income	43.1	64.3	90.9	109	105	188	234	139	1.01	-576
Income tax	7.42	21.1	5.52	14.1	12.8	24.6	28.5	17.8	-5.5	-31.6
Net income to minority interests	0	0.06	1.33	1.44	1.07	0	0	0	-0.04	-0.14
Net income	35.7	43.1	84	93	90.7	164	205	121	6.55	-545
EBITDA	54.6	77.3	109	130	148	240	296	220	142	-431
EPS, basic	0.97	1.15	2.22	2.43	2.25	3.90	4.86	2.86	0.16	-13.03
EPS, diluted	0.94	1.11	2.16	2.38	2.22	3.87	4.84	2.85	0.16	-13.03
Shares, basic (weighted)	36.8	37.4	37.8	38.3	40.2	42	42.2	42.3	41.7	41.8
Shares, diluted (weighted)	37.8	38.7	39	39.2	40.8	42.4	42.4	42.4	41.7	41.8

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	35.3	35.9	28	43.7	246	180	145	83.6	71.7	58
Receivables	61.6	61.1	78.9	91.6	121	142	200	171	166	191
Inventory	71.2	84.8	107	129	127	280	351	372	405	389
Other current assets	14.8	18.1	18	5.47	7.91	10.5	13.8	18.6	11.9	15.1
Total current assets	183	200	232	282	582	725	798	768	728	746
Property, plant and equipment	32.3	43.6	64.8	108	163	192	202	237	246	235
Lease right-of-use assets				17.5	26.1	38.8	48.1	84.3	104	99
Goodwill	57.8	88.4	88.9	93.5	289	323	324	637	640	83.6
Intangible assets	57.9	90	84	81.9	204	197	179	483	449	399
Other non-current assets	0.71	0.55	0.37	0.45	1.95	4.99	10.1	11.5	21.5	19
Total assets	336	425	485	609	1,287	1,516	1,618	2,242	2,235	1,672
Accounts payable	36.2	40.8	55.1	55.1	92.4	100	131	104	136	141
Accrued liabilities	34.4	29.6	33.6	35.7	59.4	112	128	103	99.7	92.1
Short-term debt	3.63	5.04	6.92	0	12.5	17.5	0	14.3	24.3	26.9
Total current liabilities	87	83.2	96.8	91.8	165	230	259	222	260	260
Long-term debt	63.1	58	52.5	0	377	361	0	359	528	497
Lease liabilities				11.6	19.1	28.9	37.1	69.2	88.2	89.8
Other non-current liabilities				11.6	24.9	30.8	38.1	69.5	93.1	94.7
Total liabilities	151	177	150	171	567	622	497	1,021	1,034	1,002
Total debt	66.7	63.1	59.4	0	390	378	0	374	552	524
Paid-in capital	108	113	116	123	337	344	356	348	339	352
Retained earnings	92.8	136	220	312	395	559	764	878	875	331
Treasury stock	-13.8	-13.8	-13.8	-13.8	-13.8	-13.8	-13.8	-13.8	-13.8	-13.8
Other comprehensive income	-2.19	-0.17	-0.78	0.15	1.07	4.88	14.8	9.04	0.22	0.83
Shareholders' equity	185	235	321	422	719	894	1,121	1,222
Total equity	185	235	321	422	719	894	1,121	1,222	1,201	670
Total liabilities and equity	336	425	485	609	1,287	1,516	1,618	2,242	2,235	1,672
Shares outstanding	36.9	37.6	0.04	38.6	41.8	42.1	42.3	42	41.7	41.8

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	35.7	43.2	85.4	94.5	91.7	164	205	121	6.51	-545
Depreciation and amortization	9.03	10.3	14.5	17.6	33.9	43.4	49.2	60.1	83.9	92.3
Stock-based compensation	6.22	8.73	7.32	6.86	8.62	13.9	16.4	16.5	9.61	14.3
Deferred income tax	-3.02	-1.18	-12.7	-10.4	-14.9	-14.6	-21.5	-7.86	-23.2	-44.9
Change in receivables	-17.9	3.55	-19	-12.1	-18.8	-20.2	-64	64.5	10.4	-23.5
Change in inventory	-2.99	-8.07	-23	-17	7.88	-150	-87.5	31.6	-26.5	18
Change in payables	9.61	2.24	15.2	-0.87	25.9	10.3	40.5	-44	15	1.24
Cash from operations	38.8	48.2	65.4	74.8	82.5	63.2	187	179	132	60.9
Capital expenditures	-12	-16.9	-30.2	-53.5	-56.7	-54.8	-43.7	-46.9	-44	-34
Acquisitions	-0.2	-53.6	0	-6.8	-332	-51.9	-0.71	-701	-25.8	0
Cash from investing	-12.2	-70.5	-30.2	-60.3	-389	-105	-44.7	-750	-76.3	-34
Stock issued			0	0	198	0	0
Share buybacks	-7.95	0	0			0	0	-25	-25	0
Cash from financing	1.83	22	-43.4	0.86	507	-23.8	-179	509	-67.3	-40
Exchange rate effect	-0.12	0.94	0.25	0.42	1.33	-0.54	2.35	1.07	-0.19	-0.61
Net change in cash	28.3	0.67	-7.99	15.8	202	-66.1	-34.4	-61.6	-12	-13.7
Free cash flow	26.8	31.3	35.2	21.3	25.8	8.34	143	132	87.8	27
Interest paid	1.79	2.01	2.76	2.76	7.17	6.38	9.92	21.1	57	49.5
Income taxes paid	8.88	16	24.6	28.3	26.2	15	37.5	44.7	29.2	15.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 3, 2026; growth uses fiscal years. Valuation uses the share price of $18.55 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	29.5%	Gross profit / revenue.
Operating margin	-18.3%	Operating income / revenue.
EBITDA margin	-12.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-22.4%	Pre-tax income / revenue.
Net margin	-20.4%	Net income / revenue.
FCF margin	0.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.5%	Cash from operations / revenue.
Return on assets (ROA)	-18.2%	Net income / average total assets.
R&D / revenue	4.9%	Research and development expense / revenue.
Stock-based pay / revenue	0.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.6%	Capital expenditures / revenue.
D&A / revenue	6.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-5.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-1,007.0%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-404.2%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-8,414.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-8,244.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-53.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-31.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-5.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-69.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-42.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	0.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-25.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.10x	Current assets / current liabilities.
Quick ratio	1.06x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.25x	(Cash + short-term investments) / current liabilities.
Debt / assets	30.8%	Total debt / total assets.
Liabilities / assets	59.3%	Total liabilities / total assets.
Net debt	$443.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-5.33x	Operating income / interest expense.
Working capital	$518.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	5.1%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.89x	Revenue / average total assets.
Fixed asset turnover	6.93x	Revenue / average property, plant and equipment.
Inventory turnover	2.69x	Cost of revenue / average inventory.
Days inventory	135 days	365 x average inventory / cost of revenue.
Receivables turnover	7.36x	Revenue / average receivables.
Days sales outstanding	50 days	365 x average receivables / revenue.
Days payables	48 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	137 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	65.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$7.06	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$34.64	Revenue / diluted weighted shares.
FCF per share	$0.30	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.87	Cash from operations / diluted weighted shares.
Cash per share	$1.46	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$779.7M	Share price x shares outstanding.
Enterprise value	$1.22B	Market cap + total debt - cash - short-term investments.
P/S	0.53x	Market cap / revenue.
P/FCF	60.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	21.3x	Market cap / cash from operations, when positive.
EV/Sales	0.84x	Enterprise value / revenue.
EV/FCF	95.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.6%	Free cash flow / market cap.
Earnings yield	-38.3%	Net income / market cap (the inverse of P/E).

What was FOX FACTORY HOLDING CORP's revenue in fiscal 2025?

FOX FACTORY HOLDING CORP reported revenue of $1.47B for fiscal 2025, 5.3% higher than the year before.

Was FOX FACTORY HOLDING CORP profitable in fiscal 2025?

No. It reported a net loss of $544.6M.

How much free cash flow did FOX FACTORY HOLDING CORP generate in fiscal 2025?

Cash from operations of $60.9M minus capital expenditures of $34.0M left free cash flow of $27.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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