Fox Factory Holding Corp (FOXF)
Debt-to-capital 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 373,528 | — | — | — | 0 | 0 | 0 | 356,288 | 360,953 | 365,615 | 370,275 | 374,933 | 377,088 | 379,242 | 381,393 | 385,404 | 0 | 0 | 0 | 51,123 |
| Total stockholders’ equity | US$ in thousands | 1,221,760 | 1,241,300 | 1,205,800 | 1,164,250 | 1,121,390 | 1,055,130 | 1,001,930 | 949,084 | 894,082 | 850,040 | 804,369 | 762,291 | 719,171 | 683,927 | 633,064 | 429,706 | 422,200 | 396,620 | 369,180 | 339,421 |
| Debt-to-capital ratio | 0.23 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.27 | 0.29 | 0.30 | 0.32 | 0.33 | 0.34 | 0.36 | 0.38 | 0.47 | 0.00 | 0.00 | 0.00 | 0.13 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $373,528K ÷ ($373,528K + $1,221,760K)
= 0.23
The debt-to-capital ratio of Fox Factory Holding Corp has shown fluctuations over the periods provided. As of December 31, 2019, the ratio was at 0.13, indicating a relatively low level of debt compared to the total capital. This ratio remained at zero for the next four quarters, suggesting that the company had either reduced its debt or increased its capital during that time.
However, in the first quarter of 2022, the ratio increased to 0.27, indicating that the company had taken on more debt relative to its capital. This trend continued to rise over several quarters, reaching a peak of 0.47 as of March 31, 2020.
From the second quarter of 2022 onwards, the company managed to decrease its debt-to-capital ratio gradually, reaching 0.23 as of December 31, 2023. This decrease suggests that Fox Factory Holding Corp may have reduced its debt levels or increased its capital base during this period. Overall, the company's management of its debt-to-capital ratio showcases efforts to maintain a balanced capital structure and financial stability.
Peer comparison
Dec 31, 2023