Fox Factory Holding Corp (FOXF)
Current ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 3.70 | 3.08 | 3.15 | 3.52 | 3.07 |
December 31, 2023 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $768,055K ÷ $207,550K
= 3.70
The current ratio of Fox Factory Holding Corp has shown fluctuations over the past five years. In 2023, the current ratio increased to 3.70, a significant improvement from 3.08 in 2022. This indicates that the company's current assets are sufficient to cover its current liabilities with a higher margin in the most recent year, which is generally seen as a positive sign of liquidity and financial health.
While the current ratio was higher in 2020 and 2021 at 3.52 and 3.15 respectively, the 2023 ratio of 3.70 is the highest within the given period, suggesting that the company has strengthened its ability to meet short-term obligations. Despite the fluctuations, the current ratio has generally remained above 3, indicating a consistent ability to meet short-term liabilities comfortably over the years. Overall, the current ratio trend of Fox Factory Holding Corp reflects a relatively strong liquidity position, providing a buffer against potential financial challenges in the short term.
Peer comparison
Dec 31, 2023