Fox Factory Holding Corp (FOXF)
Total asset turnover
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 1,393,921 | 1,373,579 | 1,345,575 | 1,397,799 | 1,464,178 | 1,540,324 | 1,618,375 | 1,624,365 | 1,602,491 | 1,536,179 | 1,474,446 | 1,395,905 | 1,299,064 | 1,219,126 | 1,132,391 | 987,329 | 890,554 | 814,044 | 764,661 | 773,681 |
| Total assets | US$ in thousands | 2,232,310 | 2,288,260 | 2,265,620 | 2,248,280 | 2,242,300 | 1,674,360 | 1,793,760 | 1,824,430 | 1,618,340 | 1,677,860 | 1,718,220 | 1,664,020 | 1,515,730 | 1,513,530 | 1,453,990 | 1,357,100 | 1,286,560 | 1,260,530 | 1,185,200 | 1,068,700 |
| Total asset turnover | 0.62 | 0.60 | 0.59 | 0.62 | 0.65 | 0.92 | 0.90 | 0.89 | 0.99 | 0.92 | 0.86 | 0.84 | 0.86 | 0.81 | 0.78 | 0.73 | 0.69 | 0.65 | 0.65 | 0.72 |
December 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,393,921K ÷ $2,232,310K
= 0.62
The total asset turnover ratio of Fox Factory Holding Corp has fluctuated over the period under review, indicating the efficiency with which the company generates revenue from its assets. The ratio ranged from a low of 0.59 to a high of 0.99 during the analyzed period. The trend shows an initial increase in total asset turnover from 0.72 in March 2020 to 0.99 in December 2022, suggesting improved asset utilization. However, there was a decline in the ratio in subsequent periods, dropping to 0.60 by September 2024.
The increase in total asset turnover till December 2022 implies that Fox Factory Holding Corp was able to generate more revenue relative to its assets, indicating improved efficiency in asset management. The subsequent decline in the ratio may indicate challenges in maintaining or improving the utilization of assets to generate revenue efficiently. By examining the total asset turnover ratio over time, stakeholders can gain insights into the company's operational efficiency and its ability to generate sales relative to its assets. Further analysis is recommended to understand the underlying factors contributing to these fluctuations and implications for the company's financial performance.
Peer comparison
Dec 31, 2024