Fox Factory Holding (FOXF) FY2018 results: revenue $619 million, up 30.2% on the year
Fox Factory Holding Corp. (FOXF) reported revenue of $619 million for fiscal 2018, the year ended 28 December 2018, up 30.2% on the year before. Net income was $84 million, up 94.9%, and diluted earnings per share $2.16. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$619 million
+30.2% on the year
FY2011FY2018
Operating margin
15.3%
14.1% a year earlier
FY2011FY2018
Net income
$84 million
+94.9% on the year
FY2011FY2018
Diluted EPS
$2.16
+94.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
619
476
403
+30.2%
Cost of revenue
414
321
277
+28.8%
Gross profit
205
154
126
+33.0%
Gross margin
33.2%
32.5%
31.4%
Research and development
25.8
20.2
18.5
+28.1%
Operating income
94.5
67.0
45.5
+41.0%
Operating margin
15.3%
14.1%
11.3%
Interest expense
3.1
2.4
2.1
+27.7%
Pre-tax income
90.9
64.3
43.1
+41.4%
Income tax
5.5
21.1
7.4
-73.8%
Effective tax rate
6.1%
32.8%
17.2%
Net income
84.0
43.1
35.7
+94.9%
Net margin
13.6%
9.1%
8.9%
Diluted EPS
$2.16
$1.11
$0.94
+94.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
65.4
48.2
38.8
+35.7%
Capital expenditure
30.2
16.9
12.0
+79.1%
Free cash flow
35.2
31.3
26.8
+12.4%
Free cash flow margin
5.7%
6.6%
6.7%
Cash from investing
-30.2
-70.5
-12.2
Cash from financing
-43.4
22.0
1.8
Depreciation and amortisation
14.5
10.3
9.0
+40.6%
Share-based compensation
7.3
8.7
6.2
-16.1%
Buybacks
0.0
0.0
7.9
Diluted shares, weighted
39m
39m
38m
+0.6%
Shares outstanding at period end
38m
38m
37m
+1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
321
235
185
+36.8%
Redeemable equity
14.3
13.0
0.0
+10.2%
Debt
59.4
98.6
66.7
-39.8%
Other liabilities
90.3
78.8
84.0
+14.6%
Total liabilities and equity
485
425
336
+14.1%
Fixed assets
64.8
43.6
32.3
+48.5%
Goodwill
88.8
88.4
57.8
+0.5%
Intangible assets
84.0
90.0
57.9
-6.7%
Cash and equivalents
28.0
35.9
35.3
-22.2%
Receivables
78.9
61.1
61.6
+29.2%
Inventory
107
84.8
71.2
+26.3%
Other assets
33.7
21.3
19.6
+58.2%
Total assets
485
425
336
+14.1%
10-K for the year ended 28 December 2018, filed 26 February 2019: the filing.