Fox Factory Holding Corp (FOXF)
Total asset turnover
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,393,920 | 1,464,180 | 1,602,490 | 1,299,060 | 890,554 |
| Total assets | US$ in thousands | 2,232,310 | 2,242,300 | 1,618,340 | 1,515,730 | 1,286,560 |
| Total asset turnover | 0.62 | 0.65 | 0.99 | 0.86 | 0.69 |
December 31, 2024 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,393,920K ÷ $2,232,310K
= 0.62
Fox Factory Holding Corp's total asset turnover has shown fluctuating trends over the past five years. In 2020, the total asset turnover was 0.69, indicating that the company generated $0.69 in revenue for every dollar of assets it had.
There was an increase in total asset turnover in 2021 to 0.86, suggesting that Fox Factory was able to generate more revenue relative to its total assets compared to the previous year. This improvement continued in 2022, with the total asset turnover rising further to 0.99, indicating that the company was becoming more efficient in utilizing its assets to generate revenue.
However, in 2023, there was a decline in total asset turnover to 0.65, which might indicate that the company faced challenges in effectively utilizing its assets to generate revenue during that year. This decline continued into 2024, with the total asset turnover dropping further to 0.62, reflecting a potential decrease in revenue generation relative to the total assets owned by Fox Factory Holding Corp.
Overall, the fluctuating total asset turnover suggests that the company's efficiency in utilizing its assets to generate revenue has varied over the years, and further analysis would be needed to understand the factors driving these changes and their implications for the company's financial performance.
Peer comparison
Dec 31, 2024