Latest Ratios: P/E Ratio -1.3x · EV/EBITDA N/A · ROE -58.2%. (2011–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $701M | $728M | $1.3B | $2.9B | $3.9B | $7.2B | $4.3B | $2.7B | $2.3B | $1.5B | $1.0B |
| Enterprise Value | $1.4B | $1.4B | $1.9B | $3.5B | $3.9B | $7.4B | $4.5B | $2.8B | $2.3B | $1.6B | $1.1B |
| P/E Ratio → | -1.28 | — | 188.56 | 23.68 | 18.85 | 43.95 | 47.62 | 29.23 | 27.25 | 35.00 | 29.52 |
| P/S Ratio | 0.48 | 0.50 | 0.90 | 1.96 | 2.41 | 5.55 | 4.84 | 3.63 | 3.70 | 3.16 | 2.60 |
| P/B Ratio | 1.04 | 1.09 | 1.05 | 2.34 | 3.45 | 8.06 | 6.00 | 6.45 | 6.84 | 6.07 | 5.67 |
| P/FCF | 26.02 | 27.03 | 14.34 | 21.71 | 26.97 | 690.01 | 166.07 | 127.86 | 65.17 | 48.07 | 39.11 |
| P/OCF | 11.51 | 11.96 | 9.55 | 16.02 | 20.67 | 110.38 | 52.14 | 36.40 | 35.07 | 31.24 | 27.00 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.99 | 1.37 | 2.42 | 2.45 | 5.71 | 5.04 | 3.68 | 3.75 | 3.30 | 2.68 |
| EV / EBITDA | — | — | 13.51 | 16.17 | 13.29 | 30.85 | 30.31 | 21.21 | 21.38 | 20.27 | 19.90 |
| EV / EBIT | — | — | 34.11 | 22.39 | 16.20 | 37.72 | 39.43 | 24.75 | 24.59 | 23.51 | 23.91 |
| EV / FCF | — | 53.80 | 21.74 | 26.82 | 27.42 | 709.91 | 172.83 | 129.84 | 66.07 | 50.07 | 40.28 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.2% | 30.2% | 30.4% | 31.7% | 33.2% | 33.3% | 32.5% | 32.3% | 33.2% | 32.5% | 31.4% |
| Operating Margin | -35.6% | -35.6% | 4.1% | 10.9% | 15.4% | 15.2% | 12.8% | 15.0% | 15.3% | 14.1% | 11.3% |
| Net Profit Margin | -37.1% | -37.1% | 0.5% | 8.3% | 12.8% | 12.6% | 10.2% | 12.4% | 13.6% | 9.1% | 8.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -58.2% | -58.2% | 0.5% | 10.3% | 20.4% | 20.3% | 15.9% | 24.6% | 28.8% | 19.9% | 21.2% |
| ROA | -27.9% | -27.9% | 0.3% | 6.3% | 13.1% | 11.7% | 9.6% | 17.0% | 18.4% | 11.3% | 11.6% |
| ROIC | -24.2% | -24.2% | 2.3% | 7.8% | 16.2% | 14.8% | 12.6% | 20.4% | 20.9% | 19.1% | 16.6% |
| ROCE | -30.9% | -30.9% | 2.9% | 9.5% | 18.7% | 16.4% | 13.9% | 24.9% | 25.9% | 22.7% | 20.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.16 | 1.16 | 0.60 | 0.62 | 0.19 | 0.43 | 0.59 | 0.20 | 0.18 | 0.40 | 0.36 |
| Debt / EBITDA | — | — | 5.11 | 3.46 | 0.71 | 1.61 | 2.84 | 0.66 | 0.55 | 1.28 | 1.23 |
| Net Debt / Equity | — | 1.08 | 0.54 | 0.55 | 0.06 | 0.23 | 0.24 | 0.10 | 0.09 | 0.25 | 0.17 |
| Net Debt / EBITDA | — | — | 4.60 | 3.08 | 0.22 | 0.86 | 1.19 | 0.32 | 0.29 | 0.81 | 0.58 |
| Debt / FCF | — | 26.77 | 7.40 | 5.11 | 0.45 | 19.90 | 6.76 | 1.98 | 0.89 | 2.00 | 1.17 |
| Interest Coverage | -9.74 | -9.74 | 1.02 | 8.18 | 27.15 | 24.08 | 12.25 | 35.22 | 30.90 | 27.83 | 21.64 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.86 | 2.86 | 2.80 | 3.46 | 3.08 | 3.15 | 3.52 | 3.07 | 2.40 | 2.35 | 2.10 |
| Quick Ratio | 1.37 | 1.37 | 1.24 | 1.79 | 1.73 | 1.94 | 2.75 | 1.67 | 1.29 | 1.37 | 1.28 |
| Cash Ratio | 0.22 | 0.22 | 0.28 | 0.38 | 0.56 | 0.78 | 1.49 | 0.48 | 0.29 | 0.42 | 0.41 |
| Asset Turnover | — | 0.88 | 0.62 | 0.65 | 0.99 | 0.86 | 0.69 | 1.23 | 1.28 | 1.11 | 1.20 |
| Inventory Turnover | 2.64 | 2.64 | 2.40 | 2.69 | 3.06 | 3.10 | 4.73 | 3.96 | 3.86 | 3.79 | 3.88 |
| Days Sales Outstanding | — | 47.43 | 43.42 | 42.64 | 45.65 | 39.91 | 49.67 | 44.53 | 46.50 | 46.86 | 55.80 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 0.5% | 4.2% | 5.3% | 2.3% | 2.1% | 3.4% | 3.7% | 2.9% | 3.4% |
| FCF Yield | 3.8% | 3.7% | 7.0% | 4.6% | 3.7% | 0.1% | 0.6% | 0.8% | 1.5% | 2.1% | 2.6% |
| Buyback Yield | 0.2% | 0.2% | 2.0% | 1.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.2% | 0.3% | 0.8% |
| Total Shareholder Yield | 0.2% | 0.2% | 2.0% | 1.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.2% | 0.3% | 0.8% |
| Shares Outstanding | — | $42M | $42M | $42M | $42M | $42M | $41M | $39M | $39M | $39M | $38M |
Acquisition-Driven Asset Impairment
According to recent market data, FOXF trades at a forward P/E of 18.75, a multiple that appears disconnected from the company's recent negative earnings and the structural margin compression inherent in its pivot toward lower-margin vehicle upfitting operations compared to historical component-manufacturing benchmarks.
The current valuation suggests investors are pricing in a recovery that assumes a return to historical profitability, yet the shift toward vehicle upfitting structurally lowers the ceiling for margins. This forward-looking multiple may be overly optimistic given the persistent inventory glut in the Specialty Sports segment and the integration risks associated with recent non-core acquisitions.
Based on reported financial statements, ROIC has collapsed from positive territory to -15.5% in 2025Q4, signaling that the company's aggressive acquisition strategy has failed to generate returns exceeding the cost of capital, effectively destroying shareholder value rather than compounding it over the recent cycle.
The sharp decline in ROIC reflects both the massive goodwill impairments taken on recent deals and the operational drag of integrating disparate business units. Investors should monitor whether management can stabilize returns as they pivot away from the high-margin ride dynamics core toward a more capital-intensive, lower-return upfitting model.
As indicated by the company's quarterly filings, the cash conversion cycle has remained elevated at 131 days in 2026Q1, driven by persistent inventory bloat that suggests the firm is struggling to align its production output with the softening demand environment in the cycling and enthusiast vehicle markets.
The high DIO of 130 days highlights a significant mismatch between factory throughput and end-market absorption, which ties up critical liquidity. This inefficiency forces the company to rely more heavily on external financing, increasing its vulnerability to interest rate fluctuations and dealer floorplan financing costs.
Based on the provided balance sheet data, the debt-to-equity ratio has surged to 1.06 as of 2026Q1, reflecting a rapid erosion of the equity base that leaves the company with a significantly thinner buffer to absorb further operational shocks or potential covenant breaches.
The increase in leverage is particularly concerning given the volatility in interest coverage, which has swung into negative territory during periods of heavy impairment. This trend suggests that the company's financial flexibility is becoming increasingly constrained, limiting management's ability to pivot or invest in core R&D.
Market participants frequently misapply traditional component-maker valuation multiples to FOXF, failing to account for the fact that the company's revenue is increasingly derived from vehicle upfitting, a logistics-heavy business model that structurally demands lower margins and higher capital intensity than pure-play engineering.
By ignoring the shift in revenue composition, analysts likely overestimate the company's long-term margin potential and ROIC. Investors should instead focus on 'Value-Added Revenue' and adjusted operating margins to strip out the pass-through costs of vehicle chassis, which currently distort the firm's true economic profile.
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying FOXF stock.
Fox Factory Holding Corp.'s current P/E ratio is -1.3x. The historical average is 43.1x.
Fox Factory Holding Corp.'s return on equity (ROE) is -58.2%. The historical average is 15.7%.
Based on historical data, Fox Factory Holding Corp. is trading at a P/E of -1.3x. Compare with industry peers and growth rates for a complete picture.
Fox Factory Holding Corp. has 30.2% gross margin and -35.6% operating margin.