Fox Factory Holding Corp (FOXF)
Fixed asset turnover
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,446,505 | 1,531,268 | 1,610,118 | 1,618,829 | 1,597,282 | 1,529,458 | 1,470,392 | 1,393,548 | 1,299,064 | 1,219,126 | 1,132,391 | 987,329 | 890,554 | 814,044 | 763,913 | 771,928 | 748,438 | 719,367 | 683,848 | 648,724 |
| Property, plant and equipment | US$ in thousands | 237,192 | 211,142 | 211,578 | 210,304 | 202,215 | 199,568 | 194,601 | 193,609 | 192,003 | 183,695 | 177,630 | 170,793 | 163,288 | 156,819 | 146,974 | 127,633 | 108,379 | 102,557 | 95,097 | 84,984 |
| Fixed asset turnover | 6.10 | 7.25 | 7.61 | 7.70 | 7.90 | 7.66 | 7.56 | 7.20 | 6.77 | 6.64 | 6.37 | 5.78 | 5.45 | 5.19 | 5.20 | 6.05 | 6.91 | 7.01 | 7.19 | 7.63 |
December 31, 2023 calculation
Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,446,505K ÷ $237,192K
= 6.10
The fixed asset turnover ratio for Fox Factory Holding Corp has shown fluctuations over the past several quarters. The ratio indicates how efficiently the company is utilizing its fixed assets to generate sales. A higher fixed asset turnover ratio typically suggests that the company is effectively using its fixed assets to generate revenue.
Analyzing the trend, we observe that the fixed asset turnover ratio has generally been on an upward trajectory since the beginning of 2020, reaching a peak of 7.90 in the fourth quarter of 2022. This increase indicates that the company has been utilizing its fixed assets more efficiently to generate sales during this period.
However, there was a slight decline in the fixed asset turnover ratio in the first quarter of 2023, followed by a slight increase in the subsequent quarters. Despite these fluctuations, the company has maintained a relatively high fixed asset turnover ratio above 5, indicating consistent efficiency in utilizing its fixed assets.
Overall, the trend in Fox Factory Holding Corp's fixed asset turnover ratio suggests that the company has been effectively managing and utilizing its fixed assets to drive sales and generate revenue in a relatively efficient manner.
Peer comparison
Dec 31, 2023