Fox Factory Holding Corp (FOXF)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 373,528 | 0 | 360,953 | 377,088 | 0 |
| Total stockholders’ equity | US$ in thousands | 1,221,760 | 1,121,390 | 894,082 | 719,171 | 422,200 |
| Debt-to-equity ratio | 0.31 | 0.00 | 0.40 | 0.52 | 0.00 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $373,528K ÷ $1,221,760K
= 0.31
The debt-to-equity ratio of Fox Factory Holding Corp has exhibited fluctuating trends over the past five years. In 2023, the company had a debt-to-equity ratio of 0.31, indicating that for each dollar of equity, the company had $0.31 in debt. This suggests a relatively conservative capital structure with lower reliance on debt financing compared to equity.
The ratio was notably lower in 2022, where it stood at 0.00, indicating that the company had no debt relative to its equity during that period. This could signify a period of deleveraging or a strategic shift towards a more equity-heavy financing structure.
Prior to 2022, the debt-to-equity ratio had been higher, reaching 0.40 in 2021 and 0.52 in 2020. These higher ratios imply that the company had higher levels of debt compared to equity in those years, indicating a potentially higher financial risk and leverage.
Notably, in 2019, the company again reported a debt-to-equity ratio of 0.00, indicating no debt relative to equity, similar to the situation in 2022.
Overall, the historical trend in Fox Factory Holding Corp's debt-to-equity ratio reflects varying levels of reliance on debt financing over the years, with 2023 showing a moderate level of debt compared to equity. It is important for investors and stakeholders to monitor these ratios to assess the company's financial risk and capital structure stability.
Peer comparison
Dec 31, 2023