Fox Factory Holding Corp (FOXF)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 83,642 | 90,631 | 105,440 | 91,892 | 145,250 | 153,137 | 108,637 | 68,772 | 179,686 | 319,342 | 274,976 | 291,471 | 245,764 | 278,246 | 217,965 | 76,182 | 43,736 | 31,979 | 39,021 | 38,288 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | US$ in thousands | 171,060 | 149,989 | 171,303 | 195,313 | 200,440 | 194,422 | — | — | 142,040 | — | — | — | 121,194 | — | — | — | — | — | — | — |
| Total current liabilities | US$ in thousands | 207,550 | 191,677 | 207,562 | 253,636 | 258,889 | 265,091 | 272,460 | 280,807 | 229,862 | 269,888 | 248,879 | 198,034 | 165,389 | 173,887 | 118,229 | 138,673 | 91,813 | 102,599 | 106,024 | 113,696 |
| Quick ratio | 1.23 | 1.26 | 1.33 | 1.13 | 1.34 | 1.31 | 0.40 | 0.24 | 1.40 | 1.18 | 1.10 | 1.47 | 2.22 | 1.60 | 1.84 | 0.55 | 0.48 | 0.31 | 0.37 | 0.34 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($83,642K
+ $—K
+ $171,060K)
÷ $207,550K
= 1.23
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its current liabilities.
Fox Factory Holding Corp's quick ratio has fluctuated over the periods provided. From December 31, 2019, to December 31, 2023, the quick ratio ranged from as low as 0.31 to as high as 2.22. This indicates significant variability in the company's ability to meet short-term obligations with its liquid assets.
In general, the quick ratio of Fox Factory demonstrated improvement from 2019 to 2023. Notably, the quick ratio reached its peak in December 2020 at 2.22 before decreasing and then fluctuating within a range of 0.40 to 1.47 in subsequent periods.
The company showed a strong ability to cover its current liabilities with its liquid assets in some periods, as evidenced by quick ratios above 1. However, there were also periods where the quick ratio fell below 1, suggesting potential liquidity challenges in meeting short-term obligations.
Overall, the trend in Fox Factory's quick ratio indicates varying levels of liquidity and the need for careful monitoring of the company's ability to manage its short-term financial obligations effectively.
Peer comparison
Dec 31, 2023