FOX FACTORY HOLDING Reports Q2 FY2023 Earnings Results for June 30 2023
August 23, 2023
🌥️Earnings Overview
On August 3 2023, FOX FACTORY HOLDING ($NASDAQ:FOXF) announced its financial results for the quarter ended June 30 2023, revealing a total revenue of USD 400.7 million, a 1.5% drop from the same period in FY2022. Net income for the quarter was USD 39.7 million, a decline of 25.7% from the previous year.
Share Price
On Thursday, FOX FACTORY HOLDING reported their Q2 FY2023 earnings results for June 30, 2023. The stock opened at $107.2 and closed at $106.3, representing a decrease of 1.5% from the previous day’s closing price of 107.9. The company also reported strong growth in its manufacturing and motorcycle segments, indicating healthy demand for FOX FACTORY HOLDING products. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FOXF. More…
| Total Revenues | Net Income | Net Margin |
| 1.62k | 185.23 | 11.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FOXF. More…
| Operations | Investing | Financing |
| 269.19 | -181.33 | -91.58 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FOXF. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.79k | 587.96 | 28.47 |
Key Ratios Snapshot
Some of the financial key ratios for FOXF are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.4% | 35.4% | 14.2% |
| FCF Margin | ROE | ROA |
| 13.7% | 12.1% | 8.0% |
Analysis
At GoodWhale, we have taken a deep dive into the financials of FOX FACTORY HOLDING. After careful analysis, we have determined that this company has a medium risk rating in terms of its financial and business aspects. Although there are some positive metrics, we have detected two risk warnings in their balance sheet and cashflow statement. If you are interested in learning more about the details of our analysis, please register on our website – goodwhale.com. Here, you will find detailed information about FOX FACTORY HOLDING’s financial performance. More…
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
Fox Factory Holding reported a decrease in total revenue and net income for the quarter ending June 30 2023, when compared to the same period last year. Despite this, investors may still find attractive opportunities for growth in Fox Factory Holding. Thus, Fox Factory Holding may present a good investment opportunity for those looking for long-term growth potential.
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