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Fox Factory vs LiveWire: revenue, profit, margins and growth compared

Fox Factory brought in $1.5B of revenue in fiscal 2025, LiveWire $25.7M in fiscal 2025. Revenue changed by +5.3% at Fox Factory and -3.6% at LiveWire on the year before, so Fox Factory grew faster. Fox Factory kept -37.1% of its revenue as net profit, LiveWire -292.6%. Free cash flow was $27M at Fox Factory and -$57.4M at LiveWire.

Side by side, latest fiscal year

FOXFLVWR
Fiscal year endedFY2025 (January 2, 2026)FY2025 (December 31, 2025)
Revenue$1.5B$25.7M
Revenue growth+5.3%-3.6%
Net income-$544.6M-$75.1M
Net margin-37.1%-292.6%
Free cash flow$27M-$57.4M
Free cash flow margin1.8%-223.4%
Earnings per share (diluted)-$13.03-$0.37
Cash$58M$82.8M
Debt$523.5M$75M
Price to earningsn/an/a
Market value$779.7M$308.1M
Dividend yieldn/an/a
Rank by revenue in sector#401 of 778 · Consumer discretionary#736 of 778 · Consumer discretionary

Over the years

Revenue
FOXF FY2018: $619.2MFOXF FY2019: $751MFOXF FY2020: $890.6MFOXF FY2021: $1.3BFOXF FY2022: $1.6BFOXF FY2023: $1.5BFOXF FY2024: $1.4BFOXF FY2025: $1.5BLVWR FY2020: $30.9MLVWR FY2022: $35.8MLVWR FY2022: $46.8MLVWR FY2023: $38MLVWR FY2024: $26.6MLVWR FY2025: $25.7MFY18FY19FY20FY21FY22FY23FY24FY25
FOXF $1.5BLVWR $25.7M
Net income
FOXF FY2018: $84MFOXF FY2019: $93MFOXF FY2020: $90.7MFOXF FY2021: $163.8MFOXF FY2022: $205.3MFOXF FY2023: $120.8MFOXF FY2024: $6.6MFOXF FY2025: -$544.6MLVWR FY2020: -$77.6MLVWR FY2022: -$68.3MLVWR FY2022: -$78.9MLVWR FY2023: -$109.6MLVWR FY2024: -$93.9MLVWR FY2025: -$75.1MFY18FY19FY20FY21FY22FY23FY24FY25
FOXF -$544.6MLVWR -$75.1M
Net margin
FOXF FY2018: 13.6%FOXF FY2019: 12.4%FOXF FY2020: 10.2%FOXF FY2021: 12.6%FOXF FY2022: 12.8%FOXF FY2023: 8.3%FOXF FY2024: 0.5%FOXF FY2025: -37.1%LVWR FY2020: -251.3%LVWR FY2022: -190.7%LVWR FY2022: -168.6%LVWR FY2023: -288.1%LVWR FY2024: -352.7%LVWR FY2025: -292.6%FY18FY19FY20FY21FY22FY23FY24FY25
FOXF -37.1%LVWR -292.6%
Revenue growth
FOXF FY2019: +21.3%FOXF FY2020: +18.6%FOXF FY2021: +45.9%FOXF FY2022: +23.4%FOXF FY2023: -8.6%FOXF FY2024: -4.8%FOXF FY2025: +5.3%LVWR FY2022: +16.0%LVWR FY2022: +30.8%LVWR FY2023: -18.8%LVWR FY2024: -30.0%LVWR FY2025: -3.6%FY19FY20FY21FY22FY23FY24FY25
FOXF +5.3%LVWR -3.6%
Free cash flow
FOXF FY2018: $35.2MFOXF FY2019: $21.3MFOXF FY2020: $25.8MFOXF FY2021: $8.3MFOXF FY2022: $143.4MFOXF FY2023: $131.9MFOXF FY2024: $87.8MFOXF FY2025: $27MLVWR FY2020: -$57MLVWR FY2022: -$84.5MLVWR FY2022: -$103.8MLVWR FY2023: -$96.9MLVWR FY2024: -$101.9MLVWR FY2025: -$57.4MFY18FY19FY20FY21FY22FY23FY24FY25
FOXF $27MLVWR -$57.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Fox Factory and LiveWire

Which is bigger by revenue, Fox Factory or LiveWire?

Fox Factory is bigger by revenue: $1.5B in fiscal 2025, against $25.7M for LiveWire in fiscal 2025.

Which keeps more of its revenue as profit, Fox Factory or LiveWire?

Fox Factory had a net margin of -37.1% in fiscal 2025; LiveWire had -292.6% in fiscal 2025.

Which grew revenue faster, Fox Factory or LiveWire?

In their latest fiscal years revenue changed by +5.3% at Fox Factory and -3.6% at LiveWire.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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