Fox Factory Holding Corp. (FOXF) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+26.1%

$23.96

vs $19.00 price

Levered DCF

$14.12

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.48

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-1.34×	188.56×	23.59×	18.77×	43.62×	46.98×	28.72×	27×
P/B	1.09×	1.05×	2.34×	3.44×	7.99×	5.91×	6.34×	7.05×
P/S	0.5×	0.9×	1.95×	2.4×	5.5×	4.78×	3.56×	3.66×
EV / EBITDA	-3.37×	13.67×	16.29×	13.42×	30.44×	29.97×	21.01×	21.19×
Gross margin	30.2%	30.4%	31.7%	33.2%	33.3%	32.5%	32.3%	33.2%
Operating margin	-35.6%	4.1%	10.9%	15.4%	15.2%	12.8%	15.0%	15.3%
Net margin	-37.1%	0.5%	8.3%	12.8%	12.6%	10.2%	12.4%	13.6%
Current ratio	2.86×	2.8×	3.46×	3.08×	3.15×	3.52×	3.07×	2.4×
Debt / equity	1.16×	0.6×	0.62×	0.19×	0.43×	0.59×	0.2×	0.19×
Interest coverage	-9.74×	1.05×	8.29×	27.6×	24.13×	12.28×	35.55×	30.9×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-81.3%	0.5%	9.9%	18.3%	18.3%	12.6%	22.0%	26.2%
Return on invested capital	-34.0%	2.9%	6.8%	15.8%	13.0%	8.8%	18.7%	22.5%
Return on assets	-32.6%	0.3%	5.4%	12.7%	10.8%	7.0%	15.3%	17.3%
Free cash flow yield	3.7%	7.0%	4.6%	3.7%	0.1%	0.6%	0.8%	1.6%
Earnings yield	-74.8%	0.5%	4.2%	5.3%	2.3%	2.1%	3.5%	3.7%
Enterprise value	$1.4B	$1.9B	$3.5B	$3.9B	$7.4B	$4.4B	$2.7B	$2.3B
Net debt / EBITDA	-1.68×	4.66×	3.11×	0.22×	0.86×	1.19×	0.33×	0.29×
Cash conversion cycle (days)	136	141	140	120	116	71	97	92