Fox Factory Holding Corp (FOXF)
Total 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 |
| Total assets | US$ in thousands | 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 | 609,316 | 600,569 | 579,773 | 542,312 |
| Total asset turnover | 0.65 | 0.91 | 0.90 | 0.89 | 0.99 | 0.91 | 0.86 | 0.84 | 0.86 | 0.81 | 0.78 | 0.73 | 0.69 | 0.65 | 0.64 | 0.72 | 1.23 | 1.20 | 1.18 | 1.20 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $1,446,505K ÷ $2,242,300K
= 0.65
Total asset turnover is a measure of a company's efficiency in generating revenue from its assets. Fox Factory Holding Corp's total asset turnover has fluctuated over the past several quarters, ranging from 0.64 to 1.23. The trend shows some variability but generally demonstrates consistency in utilizing its assets to generate sales. A higher ratio indicates that the company is more efficiently using its assets to generate revenue.
The highest total asset turnover of 1.23 was recorded in December 2019, indicating that Fox Factory Holding Corp had a strong ability to generate sales relative to its asset base at that time. However, the ratio decreased in subsequent quarters, reaching a low of 0.64 in March 2020, potentially indicating a decrease in asset utilization efficiency.
In the most recent quarter of December 2023, the total asset turnover stands at 0.65, suggesting that for every dollar of assets held by the company, it generated $0.65 in revenue during that period. This implies that Fox Factory Holding Corp may have room for improvement in optimizing its asset utilization to drive sales growth. Comparing the total asset turnover over time can provide insights into the company's operational efficiency and asset management strategies.
Peer comparison
Dec 31, 2023