Fox Factory Holding Corp (FOXF)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 160,091 | 246,697 | 196,914 | 114,149 | 112,809 |
| Revenue | US$ in thousands | 1,448,180 | 1,598,830 | 1,289,730 | 880,113 | 748,041 |
| Operating profit margin | 11.05% | 15.43% | 15.27% | 12.97% | 15.08% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $160,091K ÷ $1,448,180K
= 11.05%
The operating profit margin of Fox Factory Holding Corp has displayed some fluctuation over the past five years. In 2023, the operating profit margin decreased to 11.05% from 15.43% in 2022, signaling a decline in the company's ability to generate profits from its core operations relative to its revenue. This decline in operating profit margin may be attributed to various factors such as changes in costs, pricing strategies, or operational efficiency.
Compared to 2021 and 2019 where the operating profit margins were 15.27% and 15.08% respectively, the recent decrease in 2023 suggests a potential deviation from the company's historical performance. However, it is worth noting that the operating profit margin in 2020 was lower at 12.97%, indicating variability in the company's profitability over the years.
Further analysis and investigation into the underlying reasons for the fluctuation in operating profit margins are necessary to understand the company's operational performance and financial health accurately. A declining operating profit margin may require management's attention to address the factors affecting profitability and implement strategies to enhance operational efficiency and financial performance in the future.
Peer comparison
Dec 31, 2023