Fox Factory Holding Corp (FOXF)
Solvency ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.21 | 0.24 | 0.24 | 0.25 | 0.28 | 0.29 | 0.30 | 0.32 | 0.36 | 0.00 | 0.00 | 0.00 | 0.09 |
| 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 |
| Debt-to-equity ratio | 0.31 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.38 | 0.40 | 0.43 | 0.46 | 0.49 | 0.52 | 0.55 | 0.60 | 0.90 | 0.00 | 0.00 | 0.00 | 0.15 |
| Financial leverage ratio | 1.84 | 1.35 | 1.49 | 1.57 | 1.44 | 1.59 | 1.71 | 1.75 | 1.70 | 1.78 | 1.81 | 1.78 | 1.79 | 1.84 | 1.87 | 2.49 | 1.44 | 1.51 | 1.57 | 1.60 |
Fox Factory Holding Corp has shown a steady improvement in its solvency ratios over the past quarters. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have trended downwards, indicating a lower reliance on debt financing compared to total assets, capital, and equity, respectively. This signifies a stronger financial position and lower financial risk for the company.
The financial leverage ratio has also shown a generally decreasing trend, although it experienced some fluctuations. This ratio measures the company's ability to meet its financial obligations using debt, and a declining trend suggests a more conservative capital structure and improved ability to cover interest expenses.
Overall, the declining solvency ratios and financial leverage ratio demonstrate Fox Factory Holding Corp's efforts to reduce its debt levels and enhance its financial stability over the analyzed periods.
Coverage ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 8.30 | 14.70 | 17.45 | 23.45 | 27.25 | 28.27 | 30.45 | 28.80 | 24.60 | 22.58 | 19.93 | 14.16 | 12.13 | 13.26 | 14.81 | 23.81 | 34.76 | 32.84 | 31.65 | 31.96 |
The interest coverage ratio for Fox Factory Holding Corp has exhibited a generally positive trend over the past few quarters, indicating the company's ability to meet its interest obligations from its earnings. The ratio has shown significant improvement from 2019 to 2023, with the latest value at 8.30, which means the company is generating more than 8 times the earnings necessary to cover its interest expenses.
The consistent increase in the interest coverage ratio suggests that Fox Factory Holding Corp has been effectively managing its debt levels and improving its profitability. The company's ability to cover its interest payments with a healthy margin reflects financial stability and reduced risk of default.
It is important to note that a higher interest coverage ratio indicates a stronger financial position and lower risk for creditors. Fox Factory Holding Corp's high and increasing interest coverage ratios demonstrate its capacity to comfortably service its debt obligations, which is a positive indicator for investors and lenders alike.