Fox Factory Holding Corp (FOXF)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 120,846 | 205,278 | 163,818 | 90,674 | 93,033 |
| Total assets | US$ in thousands | 2,242,300 | 1,618,340 | 1,515,730 | 1,286,560 | 609,316 |
| ROA | 5.39% | 12.68% | 10.81% | 7.05% | 15.27% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $120,846K ÷ $2,242,300K
= 5.39%
Fox Factory Holding Corp's return on assets (ROA) has shown fluctuating performance over the past five years. In 2023, the ROA decreased to 5.39% from 12.68% in 2022, indicating a decline in the company's ability to generate profits from its assets. This suggests that Fox Factory Holding Corp may have experienced challenges in efficiently utilizing its assets to generate earnings in 2023.
Compared to previous years, the ROA of 5.39% in 2023 is notably lower than the 10.81% in 2021 and the 15.27% in 2019, indicating a downward trend in the company's asset efficiency. However, it is higher than the 7.05% recorded in 2020.
Overall, Fox Factory Holding Corp's ROA has been inconsistent in recent years, possibly indicating variations in asset management efficiency or changes in the company's profitability. Further analysis of the company's financial performance and asset utilization may be necessary to identify the underlying factors driving these fluctuations in ROA.
Peer comparison
Dec 31, 2023