Fox Factory Holding Corp (FOXF)
Working capital 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 current assets | US$ in thousands | 768,055 | 797,674 | 724,670 | 581,969 | 281,813 |
| Total current liabilities | US$ in thousands | 207,550 | 258,889 | 229,862 | 165,389 | 91,813 |
| Working capital turnover | 2.58 | 2.97 | 2.61 | 2.11 | 3.94 |
December 31, 2023 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $1,448,180K ÷ ($768,055K – $207,550K)
= 2.58
The working capital turnover of Fox Factory Holding Corp has fluctuated over the past five years, with values ranging from 2.11 to 3.94. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue. A higher turnover ratio suggests that the company is effectively managing its working capital to support its sales activities.
In 2019, the company achieved the highest working capital turnover of 3.94, which could imply a strong ability to convert working capital into sales. This ratio decreased in the following years, with a notable drop to 2.11 in 2020, potentially indicating some inefficiencies in managing working capital during that period. However, the ratio improved in 2021 and 2022, reaching 2.61 and 2.97, respectively.
The most recent data for 2023 shows a working capital turnover of 2.58, which is slightly lower compared to the previous year but still reflects a decent efficiency in utilizing working capital to support sales activities. Overall, the fluctuation in the working capital turnover ratio over the years suggests some variability in the company's working capital management efficiency.
Peer comparison
Dec 31, 2023