Fox Factory Holding Corp (FOXF)
Total asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,448,180 | 1,598,830 | 1,289,730 | 880,113 | 748,041 |
| Total assets | US$ in thousands | 2,242,300 | 1,618,340 | 1,515,730 | 1,286,560 | 609,316 |
| Total asset turnover | 0.65 | 0.99 | 0.85 | 0.68 | 1.23 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,448,180K ÷ $2,242,300K
= 0.65
Fox Factory Holding Corp's total asset turnover ratio has fluctuated over the past five years. In 2019, the company achieved a high total asset turnover of 1.23, indicating that it generated $1.23 in revenue for every dollar of assets. However, this ratio declined in the subsequent years, reaching its lowest point of 0.65 in 2023, suggesting that the company generated only $0.65 in revenue for every dollar of assets that year.
The declining trend in total asset turnover may indicate inefficiencies in asset utilization or declining sales relative to the size of the asset base. It is important for the company to closely monitor and improve this ratio to ensure optimal utilization of its assets and maximize revenue generation from its asset base. Further analysis is needed to understand the specific factors driving these fluctuations and identify strategies to improve total asset turnover in the future.
Peer comparison
Dec 31, 2023