Fox Factory Holding Corp. (FOXF) · 10+ Years of Financial Ratios

Profitability	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	81.55	- -	- -	150.77	55.85	47.57	37.7	47.25	34.96	25.63	34.35	31.03	14.72
Return on Assets (%)	- -	20.83	10.45	16.08	13.31	9.29	11.62	11.29	18.4	17	9.57	11.69	13.1	6.26
Return on Capital (%)	- -	61.21	37.26	103.37	60.16	27.74	28.19	22.67	33.32	28.34	16.69	19.85	22.3	10.55
Return on Invested Capital (%)	- -	36.12	19.46	28.26	21.43	16.12	18.59	15.46	24.42	22.11	12.4	14.14	16.17	8.28
Gross Margin (%)	28.43	28.77	26.64	29.38	30.78	30.55	31.36	32.48	33.19	32.32	32.51	33.28	33.16	31.75
EBITDA Margin (%)	15.05	14.76	14.14	17.06	15.39	15.09	14.94	16.56	17.64	17.38	16.63	18.63	18.47	14.94
Operating Margin (%)	11.45	11.42	11.09	14.22	12.22	11.53	12.76	14.4	15.27	15.02	12.82	15.16	15.39	10.93
Incremental Operating Margin (%)	- -	11.25	9.35	34.24	-3.83	7.99	25.28	23.48	18.14	13.87	0.96	20.26	16.41	62.62
Pretax Margin (%)	9.93	10.41	9.49	12.71	11.19	9.34	10.69	13.52	14.68	14.46	11.74	14.5	14.59	9.47
Profit Margin (%)	6.3	6.85	6.02	8.84	9.03	6.8	8.85	9.07	13.57	12.39	10.18	12.61	12.81	8.25
Net Income to Common Margin (%)	6.3	6.85	6.02	8.84	9.03	6.8	8.85	9.07	13.57	12.39	10.18	12.61	12.81	8.25
Effective Tax Rate (%)	36.57	34.26	36.54	30.48	19.32	27.13	17.21	32.83	6.08	12.99	12.23	13.04	12.19	12.85
Dvd Payout Ratio (%)	- -	- -	471.5	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	81.55	- -	- -	150.77	55.85	47.57	37.7	47.25	34.96	25.63	34.35	31.03	14.72

Credit	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	- -	15	59	8	50	49	67	99	59	74	390	378	210	758
ST Debt	- -	- -	3	- -	3	3	4	5	7	6	12	18	10	14
LT Debt	- -	15	56	8	47	46	63	94	53	68	377	361	200	744
Total Debt/EBITDA	- -	0.52	1.78	0.17	1.06	0.88	1.11	1.25	0.54	0.57	2.63	1.56	0.71	3.46
Net Debt/EBITDA	- -	0.52	1.78	0.14	0.97	0.75	0.52	0.8	0.29	0.19	0.97	0.82	0.19	3.02
Total Debt/EBIT	- -	0.68	2.27	0.21	1.33	1.15	1.3	1.44	0.63	0.66	3.41	1.92	0.85	4.73
Net Debt/EBIT	- -	0.67	2.26	0.16	1.22	0.99	0.61	0.92	0.33	0.22	1.26	1.01	0.22	4.12
EBITDA to Interest Expense	9.76	14.73	9.57	11.28	47.26	35.73	28.83	32.87	35.72	41.14	15.93	29.65	33.11	11.32
EBITDA-CapEx/Interest Expense	8.84	13.18	7.92	10.33	42.63	28.7	23.08	25.84	25.84	24.27	9.83	22.93	28.22	8.89
EBIT to Interest Expense	7.42	11.4	7.5	9.4	37.52	27.3	24.64	28.58	30.9	35.55	12.28	24.13	27.6	8.29
Interest Expense	3	2	3	4	1	2	2	2	3	3	9	8	9	19
Common Equity/Total Assets	- -	25.55	-13.78	2.87	12.46	20.52	27.66	31.75	45.28	51.29	30.7	36.87	47.22	39.16
Long-Term Debt/Equity (%)	- -	22.72	190.14	8.67	36.62	30.1	34.1	39.86	16.35	16.11	52.43	40.37	17.84	60.86
Long-Term Debt/Capital (%)	- -	31.53	141.82	63.9	57.37	43.3	39.53	39.9	18.81	17.58	48.06	38.51	20.52	45.45
Long-Term Debt/Total Assets (%)	- -	11.76	39.58	5.07	18.25	16.45	18.79	21.86	10.82	11.16	29.31	23.81	12.36	33.16
Total Debt/Equity (%)	- -	22.73	200.28	8.67	38.82	31.96	36.06	42.01	18.5	17.58	54.17	42.33	18.75	62.01
Total Debt/Capital (%)	- -	31.54	149.38	63.9	60.82	45.98	41.8	42.05	21.29	19.2	49.65	40.38	21.58	46.32
Total Debt/Total Assets (%)	- -	11.77	41.69	5.07	19.35	17.47	19.87	23.03	12.25	12.18	30.28	24.97	13	33.79
Net Debt to Equity	- -	22.56	200.23	6.84	35.55	27.4	16.98	26.7	9.8	5.75	20	22.23	4.88	54.01
Net Debt/Capital (%)	- -	31.37	149.4	58.3	58.71	42.19	25.28	31.56	12.53	7.07	26.69	26.24	6.6	42.51
EBITDA	26	29	33	47	47	55	60	79	109	131	148	242	296	219
EBITDA-CapEx	23	26	28	43	43	44	48	62	79	77	91	187	252	172
Operating Income (Loss)	20	23	26	39	37	42	51	68	95	113	114	197	247	160

Liquidity	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	- -	- -	- -	0.04	0.07	0.09	0.41	0.42	0.29	0.48	1.49	0.78	0.56	0.4
Current Ratio	- -	1.79	1.63	1.9	1.85	1.78	2.1	2.35	2.4	3.07	3.52	3.15	3.08	3.7
Quick Ratio	- -	0.63	0.63	0.8	0.71	0.68	1.11	1.12	1.1	1.47	2.22	1.4	1.34	1.23
CFO/Avg Current Liab	- -	1.43	0.5	0.54	0.62	0.45	0.48	0.56	0.71	0.79	0.64	0.33	0.77	0.77
Common Equity/Total Assets	- -	25.55	-13.78	2.87	12.46	20.52	27.66	31.75	45.28	51.29	30.7	36.87	47.22	39.16
Long-Term Debt/Equity (%)	- -	22.72	190.14	8.67	36.62	30.1	34.1	39.86	16.35	16.11	52.43	40.37	17.84	60.86
Long-Term Debt/Capital (%)	- -	31.53	141.82	63.9	57.37	43.3	39.53	39.9	18.81	17.58	48.06	38.51	20.52	45.45
Long-Term Debt/Total Assets (%)	- -	11.76	39.58	5.07	18.25	16.45	18.79	21.86	10.82	11.16	29.31	23.81	12.36	33.16
Total Debt/Equity (%)	- -	22.73	200.28	8.67	38.82	31.96	36.06	42.01	18.5	17.58	54.17	42.33	18.75	62.01
Total Debt/Capital (%)	- -	31.54	149.38	63.9	60.82	45.98	41.8	42.05	21.29	19.2	49.65	40.38	21.58	46.32
Total Debt/Total Assets (%)	- -	11.77	41.69	5.07	19.35	17.47	19.87	23.03	12.25	12.18	30.28	24.97	13	33.79
CFO/Total Liabilities	- -	33.57	15.43	34.57	25.38	23.78	25.78	24.9	39.86	39.99	14.58	10.5	37.65	17.51
CFO/CapEx	4.21	6.86	3.01	5.75	7.11	2.76	3.23	2.86	2.17	1.4	1.46	1.19	4.28	3.82
Altman's Z-Score	- -	5.59	4.13	10.52	6.81	7.11	7.79	8.72	12.87	12.69	7.69	10.16	8.36	5.16

Working Capital	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	- -	21.65	10.85	9.24	8.4	8.85	7.66	7.75	8.85	8.81	8.37	9.87	9.36	7.88
Days Sales Outstanding	- -	16.86	33.65	39.48	43.43	41.24	47.67	47.07	41.24	41.44	43.61	36.98	39	46.3
Inventory Turnover	- -	9.54	5.43	5	4.16	4	3.97	4.12	4.31	4.31	4.7	4.26	3.4	2.77
Days Inventory Outstanding	- -	38.26	67.27	72.99	87.65	91.26	91.98	88.7	84.68	84.61	77.61	85.68	107.42	131.93
Accounts Payable Turnover	- -	20.56	9.84	9.18	8.37	8.45	7.55	8.08	9.09	9.61	8.13	10.6	9.88	8.67
Accounts Payable Turnover Days	- -	17.75	37.08	39.74	43.59	43.2	48.37	45.18	40.14	37.98	44.91	34.44	36.94	42.08
Cash Conversion Cycle	- -	37.37	63.84	72.73	87.5	89.29	91.28	90.59	85.79	88.06	76.32	88.22	109.48	136.16
Inventory to Cash Days	- -	-21.41	-33.63	-33.51	-44.22	-50.02	-44.31	-41.63	-43.44	-43.17	-34	-48.7	-68.41	-85.63
Inventories	- -	30	34	43	59	68	71	85	107	129	127	280	351	372
Raw Materials	- -	22	26	30	40	43	47	51	76	88	88	200	247	218
Work In Process	- -	1	1	1	2	2	2	1	6	7	5	8	10	9
Finished Goods	- -	7	7	11	18	23	23	32	26	34	34	72	93	145
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	- -	- -	- -	644	608	633	1,024	1,478	2,292	2,673	4,505	7,064	3,855	2,872
- Cash & Cash Equivalents	- -	- -	- -	2	4	7	35	36	28	44	246	180	145	84
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	15	59	8	50	49	67	99	59	74	390	378	210	758
Enterprise Value	- -	15	59	650	653	675	1,055	1,541	2,323	2,703	4,649	7,263	3,921	3,546
Total Capital	- -	48	40	13	82	106	160	235	279	387	785	937	974	1,636
Total Debt/Capital (%)	- -	31.54	149.38	63.9	60.82	45.98	41.8	42.05	21.29	19.2	49.65	40.38	21.58	46.32
Total Debt / EV	- -	1.01	1	0.01	0.08	0.07	0.06	0.06	0.03	0.03	0.08	0.05	0.05	0.21
EV/Sales	- -	0.08	0.25	2.38	2.13	1.84	2.62	3.24	3.75	3.6	5.22	5.59	2.45	2.42
EV/EBITDA	- -	0.52	1.78	13.97	13.84	12.2	17.53	19.56	21.26	20.71	31.4	30.01	13.25	16.21
EV/EBIT	- -	0.67	2.26	16.77	17.44	15.97	20.51	22.5	24.57	23.96	40.73	36.88	15.89	22.15
EV/Cash Flow to Firm	- -	0.68	3.03	25.51	19.39	21.68	26.01	30.95	34.03	34.84	51.16	100.33	20.11	18.13
EV/Free Cash Flow to Firm	- -	0.6	2.34	22.1	17.05	16.06	20.06	23.12	23.59	20.62	31.5	57.08	16.43	14.63
Diluted Market Cap	- -	- -	- -	633	620	648	1,049	1,522	2,350	2,714	4,398	7,105	3,866	2,904
Diluted Enterprise Value	- -	15	59	639	665	690	1,080	1,585	2,381	2,745	4,541	7,304	3,931	3,578
EV per Share	- -	0.44	1.73	17.9	17.62	18.24	28.6	40.97	61.15	70.11	111.22	172.43	92.75	84.52
TTM Sales	171	198	236	273	307	367	403	476	619	751	891	1,299	1,602	1,464
TTM EBITDA	26	29	33	47	47	55	60	79	109	131	148	242	296	219
TTM Operating Income	20	23	26	39	37	42	51	68	95	113	114	197	247	160
TTM Cash Flow to Firm	12	22	20	25	34	31	41	50	68	78	91	72	195	196
TTM Free Cash Flow to Firm	14	25	25	29	38	42	53	67	98	131	148	127	239	242

Multiples	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Earnings	- -	- -	- -	25.43	21.76	25.36	28.62	34.06	27.13	28.56	47.82	43.02	18.76	23.96
Price/Earnings Average	- -	- -	- -	25.61	21.62	24.1	19.53	29.81	22.53	28.5	34.04	38.49	20.27	34.69
Price/Earnings High	- -	- -	- -	28.23	24.51	28.37	28.21	38.04	32.23	35.22	49.04	47.92	33.71	42.76
Price/Earnings Low	- -	- -	- -	23.04	17.95	21.75	14.59	22.05	14.96	23.16	16.04	26.53	14.39	19.26
Price/Book Value	- -	- -	- -	142.49	18.87	11.08	11.03	10.87	10.43	8.55	11.41	12.64	5.05	3.27
Price/Book Value Average	- -	- -	- -	143.51	18.75	10.53	7.52	9.51	8.66	8.53	8.12	11.31	5.45	4.73
Price/Book Value High	- -	- -	- -	158.16	21.25	12.4	10.87	12.14	12.39	10.55	11.7	14.08	9.06	5.84
Price/Book Value Low	- -	- -	- -	129.07	15.57	9.5	5.62	7.04	5.75	6.94	3.83	7.79	3.87	2.63
Price/Tangible Book Value	- -	- -	- -	19.46	124.61	18.77	14.77	26.23	15.44	10.83	19.99	18.9	6.23	28.2
Price/Tangible Book Value Average	- -	- -	- -	19.6	123.82	17.83	10.08	22.95	12.82	10.81	14.23	16.91	6.74	40.82
Price/Tangible Book Value High	- -	- -	- -	21.6	140.34	20.99	14.56	29.3	18.35	13.36	20.51	21.05	11.2	50.32
Price/Tangible Book Value Low	- -	- -	- -	17.63	102.79	16.09	7.53	16.98	8.51	8.79	6.71	11.65	4.78	22.66
Price/Sales	- -	- -	- -	2.25	1.96	1.73	2.53	3.09	3.68	3.54	4.87	5.43	2.4	1.98
Price/Sales Average	- -	- -	- -	2.26	1.95	1.64	1.73	2.7	3.06	3.53	3.47	4.85	2.6	2.86
Price/Sales High	- -	- -	- -	2.49	2.21	1.93	2.5	3.45	4.37	4.36	4.99	6.04	4.32	3.53
Price/Sales Low	- -	- -	- -	2.04	1.62	1.48	1.29	2	2.03	2.87	1.63	3.35	1.84	1.59
Price/Cash Flow	- -	- -	- -	27.1	18.31	21.08	26.29	30.49	34.87	35.51	52.42	107.94	20.59	16.2
Price/Cash Flow Average	- -	- -	- -	27.29	18.19	20.03	17.94	26.68	28.95	35.44	37.31	96.59	22.24	23.45
Price/Cash Flow High	- -	- -	- -	30.08	20.62	23.58	25.91	34.06	41.42	43.78	53.76	120.23	36.99	28.91
Price/Cash Flow Low	- -	- -	- -	24.55	15.1	18.07	13.4	19.74	19.22	28.8	17.58	66.56	15.79	13.02
Price/Free Cash Flow	- -	- -	- -	23.84	16.51	15.85	20.62	23.41	24.58	21.15	31.53	59.14	16.75	12.87
Price/Free Cash Flow Average	- -	- -	- -	24.01	16.41	15.06	14.07	20.49	20.41	21.1	22.45	52.92	18.1	18.64
Price/Free Cash Flow High	- -	- -	- -	26.47	18.6	17.73	20.32	26.15	29.2	26.07	32.34	65.88	30.09	22.98
Price/Free Cash Flow Low	- -	- -	- -	21.6	13.62	13.59	10.51	15.16	13.55	17.15	10.58	36.47	12.84	10.35
EV/Sales	- -	0.08	0.25	2.38	2.13	1.84	2.62	3.24	3.75	3.6	5.22	5.59	2.45	2.42
EV/Sales Average	- -	0.08	0.25	2.4	2.12	1.76	1.81	2.85	3.12	3.59	3.76	5.02	2.64	3.3
EV/Sales High	- -	0.08	0.25	2.64	2.38	2.05	2.58	3.6	4.45	4.43	5.35	6.21	4.36	3.96
EV/Sales Low	- -	0.08	0.25	2.16	1.78	1.59	1.37	2.14	2.09	2.93	1.86	3.51	1.89	2.04
EV/EBITDA	- -	0.52	1.78	13.97	13.84	12.2	17.53	19.56	21.26	20.71	31.4	30.01	13.25	16.21
EV/EBITDA Average	- -	0.52	1.78	14.07	13.76	11.63	12.12	17.22	17.7	20.67	22.63	26.94	14.3	22.09
EV/EBITDA High	- -	0.52	1.78	15.49	15.47	13.56	17.28	21.76	25.2	25.48	32.18	33.33	23.62	26.52
EV/EBITDA Low	- -	0.52	1.78	12.67	11.59	10.57	9.19	12.95	11.85	16.84	11.18	18.82	10.21	13.64
EV/EBIT	- -	0.67	2.26	16.77	17.44	15.97	20.51	22.5	24.57	23.96	40.73	36.88	15.89	22.15
EV/EBIT Average	- -	0.67	2.26	16.89	17.33	15.23	14.19	19.8	20.46	23.92	29.35	33.11	17.15	30.18
EV/EBIT High	- -	0.67	2.26	18.59	19.48	17.75	20.22	25.02	29.13	29.48	41.74	40.97	28.34	36.22
EV/EBIT Low	- -	0.67	2.26	15.2	14.6	13.83	10.75	14.89	13.7	19.49	14.5	23.13	12.25	18.63
Last Price	- -	- -	- -	17.73	16.39	17.11	27.75	39.3	60.32	69.32	107.78	167.71	91.21	68.45
High Price	- -	- -	- -	19.68	18.46	19.14	27.35	43.9	71.65	85.47	110.54	186.81	163.86	122.16
Low Price	- -	- -	- -	16.06	13.52	14.67	14.14	25.45	33.25	56.22	36.15	103.41	69.94	55.02
Enterprise Value	- -	15	59	650	653	675	1,055	1,541	2,323	2,703	4,649	7,263	3,921	3,546
Enterprise Value Average	- -	15	59	655	650	644	730	1,356	1,934	2,698	3,351	6,520	4,231	4,831
Enterprise Value High	- -	15	59	721	730	750	1,040	1,714	2,754	3,326	4,765	8,067	6,991	5,799
Enterprise Value Low	- -	15	59	590	547	585	553	1,020	1,295	2,198	1,655	4,554	3,021	2,982

Per Share Data Items	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	33	34	34	36	37	37	37	38	38	39	42	42	42	42
Diluted Weighted Avg Shares	33	34	34	36	38	38	38	39	39	39	41	42	42	42
Basic Weighted Avg Shares	32	33	33	35	37	37	37	37	38	38	40	42	42	42
Revenue per Share	5.33	5.91	7.05	7.89	8.35	9.92	10.95	12.73	16.38	19.59	22.14	30.91	37.94	34.61
EBITDA per Share	0.8	0.87	1	1.35	1.28	1.5	1.64	2.11	2.89	3.41	3.68	5.76	7.01	5.17
Operating Income per Share	0.61	0.68	0.78	1.12	1.02	1.14	1.4	1.83	2.5	2.94	2.84	4.69	5.84	3.78
Basic EPS, GAAP	0.34	0.4	0.42	0.7	0.75	0.67	0.97	1.15	2.22	2.43	2.25	3.9	4.86	2.86
Basic EPS from Cont Ops	0.34	0.4	0.42	0.7	0.75	0.67	0.97	1.16	2.26	2.46	2.28	3.9	4.86	2.86
Diluted EPS, GAAP	0.33	0.4	0.42	0.68	0.73	0.66	0.94	1.11	2.16	2.38	2.22	3.87	4.84	2.85
Diluted EPS from Cont Ops	0.33	0.4	0.42	0.68	0.73	0.66	0.94	1.11	2.19	2.41	2.25	3.87	4.84	2.85
Dividend per Share	- -	- -	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.32	0.63	0.52	0.65	0.9	0.81	1.06	1.29	1.73	1.95	2.06	1.55	4.43	4.23
Free Cash Flow per Basic Share	0.24	0.54	0.35	0.54	0.77	0.52	0.73	0.84	0.93	0.56	0.65	0.25	3.4	3.12
Cash & Equivalents per Share	- -	- -	- -	0.05	0.11	0.19	0.96	0.96	0.74	1.13	5.88	4.27	3.44	1.99
Book Value per Share	- -	0.97	-0.57	0.12	0.87	1.54	2.52	3.62	5.78	8.11	9.45	13.27	18.08	20.93
Tangible Book Value per Share	- -	-0.02	-0.99	0.91	0.13	0.91	1.88	1.5	3.91	6.4	5.39	8.87	14.63	2.43

Fox Factory Holding Corp.

FOXF US

46.36

46.36