Fox Factory beats earnings and revenue expectations in Q3

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FOXF Stock Intrinsic Value – Fox Factory Holding ($NASDAQ:FOXF) Corporation is a publicly traded company that designs, manufactures and sells high-performance ride dynamics products. The company operates in two segments, Mountain Bike and Motorcycle. Fox Factory’s products are used by leading automotive and motorcycle manufacturers as well as aftermarket customers.

Revenue of $409.2M also beat by $13.97M. The company attributed the strong results to continued momentum in its mountain bike segment and solid growth in its motorcycle segment.

Earnings

Fox Factory Holding Inc. reported its financial results for the second quarter of fiscal 2022 ended June 30, 2021. The company posted total revenue of $1474.4 million, an increase of 13.5% compared to the same period last year. Net income was $183.1 million, an increase of 11.8% over the same period last year. This growth has been driven by a combination of organic growth and acquisitions. Fox Factory Holding has made a number of strategic acquisitions in recent years, which has helped to fuel its growth.

Looking ahead, Fox Factory Holding is well positioned for continued growth. The company is focused on expanding its reach into new markets and continuing to grow its product portfolio. With a strong balance sheet and a commitment to innovation, Fox Factory Holding is well positioned to continue delivering strong results for its shareholders.

Stock Price

Looking at the stock, it opened at $77.8 and closed at $80.6 on Thursday, up by 2.0% from its previous closing price of $79.0. This was likely due to the company’s better-than-expected earnings and revenue results.

VI Analysis – FOXF Stock Intrinsic Value

Fox Factory Holding Corp is a publicly traded company that designs, manufactures and markets high-performance suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles with off-road capabilities and trucks. The company’s products are designed to improve the performance of the vehicles they are installed on. Fox Factory Holding Corp’s products are sold under the Fox Racing Shox, Fox Suspension and Fox Racing brands. The company’s products are used by professional and amateur athletes in a variety of disciplines, including motocross, mountain biking, off-road truck racing, snowmobile racing and BMX.

VI Peers

The Company’s products are sold to original equipment manufacturers and aftermarket customers. Fox Factory Holding Corp was founded in 1974 and is headquartered in Scotts Valley, California. Hankook & Co is a South Korean company that manufactures and sells tires. The company was founded in 1941 as the Chosun Tire Company and changed its name to Hankook Tire in 1968. Hankook Tire has manufacturing plants in South Korea, China, Hungary, and Indonesia. The company sells its tires under the Hankook, Kumho, and Nexen brands. Federal Corp is a Taiwanese company that manufactures and sells tires. Federal Corp was founded in 1954 and is headquartered in Taipei, Taiwan. The company has manufacturing plants in Taiwan, China, and Thailand. Federal Corp sells its tires under the Federal, Achilles, and Atturo brands. PT Multistrada Arah Sarana Tbk is an Indonesian company that manufactures and sells tires. PT Multistrada Arah Sarana Tbk was founded in 1976 and is headquartered in Jakarta, Indonesia. The company has manufacturing plants in Indonesia and Vietnam. PT Multistrada Arah Sarana Tbk sells its tires under the Multistrada, Tristar, and Maxxis brands.

– Hankook & Co ($KOSE:000240)

Hankook & Co is a South Korean conglomerate with a market cap of 1.17T as of 2022. The company has a Return on Equity of 5.05%. Hankook & Co is involved in a variety of businesses including tires, chemicals, and auto parts. The company has a strong presence in South Korea and is a major player in the global market.

– Federal Corp ($TWSE:2102)

Federal Corp is a publicly traded company with a market capitalization of 8.5 billion as of 2022. The company has a negative return on equity of 13.91%. Federal Corp is engaged in the business of manufacturing and selling automotive parts and systems.

– PT Multistrada Arah Sarana Tbk ($IDX:MASA)

PT Multistrada Arah Sarana Tbk has a market cap of 18.64T as of 2022, a Return on Equity of 19.35%. The company is engaged in the manufacturing of passenger car radial tyres and motorcycle tyres in Indonesia. It also exports its products to over 60 countries worldwide.

Summary

Investing in Fox Factory Holding Corporation may be a good idea for several reasons.

First, the company is a leading manufacturer of suspension products for mountain bikes, all-terrain vehicles, and snowmobiles. This gives them a strong foothold in the growing market for outdoor recreation products. Second, Fox Factory has a strong track record of financial performance, consistently beating earnings and revenue expectations. Finally, the company’s share price has been on the rise in recent years, indicating that investors are bullish on its prospects.