Fox Factory Holding Corp (FOXF)
Inventory 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,266,884 | 1,294,537 | 1,343,540 | 1,332,813 | 1,313,285 | 1,263,611 | 1,213,628 | 1,155,837 | 1,068,575 | 994,474 | 921,239 | 812,521 | 750,064 | 684,571 | 645,519 | 644,900 | 612,041 | 587,109 | 557,109 | 528,713 |
| Inventory | US$ in thousands | 371,841 | 341,209 | 355,218 | 379,892 | 350,620 | 354,223 | 349,050 | 314,971 | 279,837 | 246,185 | 208,550 | 166,546 | 127,091 | 135,687 | 148,464 | 156,553 | 128,505 | 131,228 | 136,005 | 124,069 |
| Inventory turnover | 3.41 | 3.79 | 3.78 | 3.51 | 3.75 | 3.57 | 3.48 | 3.67 | 3.82 | 4.04 | 4.42 | 4.88 | 5.90 | 5.05 | 4.35 | 4.12 | 4.76 | 4.47 | 4.10 | 4.26 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,266,884K ÷ $371,841K
= 3.41
Fox Factory Holding Corp's inventory turnover has fluctuated over the past five years, with the latest value of 3.41 at the end of December 2023. This ratio indicates that the company is able to sell and replace its inventory approximately 3.41 times during the year. A decreasing trend in inventory turnover may suggest either inefficient inventory management or slowing sales.
The highest inventory turnover in recent years was recorded at 5.90 at the end of December 2020, indicating a quicker sales cycle and efficient inventory management during that period. On the other hand, the lowest inventory turnover of 3.41 in December 2023 may point towards possible issues with inventory control or a decrease in demand for the company's products.
Overall, it is important for Fox Factory Holding Corp to closely monitor its inventory turnover ratio to ensure optimal inventory levels, efficient operations, and timely adaptation to changing market conditions.
Peer comparison
Dec 31, 2023
Dec 31, 2023