Fox Factory Holding (FOXF) FY2019 results: revenue $751 million, up 21.3% on the year
Fox Factory Holding Corp. (FOXF) reported revenue of $751 million for fiscal 2019, the year ended 3 January 2020, up 21.3% on the year before. Net income was $93 million, up 10.7%, and diluted earnings per share $2.38. The figures are the company's own, from the 10-K it filed with the SEC on 3 March 2020.
Revenue
$751 million
+21.3% on the year
FY2012FY2019
Operating margin
15.0%
15.3% a year earlier
FY2012FY2019
Net income
$93 million
+10.7% on the year
FY2012FY2019
Diluted EPS
$2.38
+10.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
751
619
476
+21.3%
Cost of revenue
508
414
321
+22.9%
Gross profit
243
205
154
+18.1%
Gross margin
32.3%
33.2%
32.5%
Research and development
31.8
25.8
20.2
+23.0%
Operating income
113
94.5
67.0
+19.3%
Operating margin
15.0%
15.3%
14.1%
Interest expense
3.2
3.1
2.4
+3.7%
Pre-tax income
109
90.9
64.3
+19.5%
Income tax
14.1
5.5
21.1
+155.3%
Effective tax rate
13.0%
6.1%
32.8%
Net income
93.0
84.0
43.1
+10.7%
Net margin
12.4%
13.6%
9.1%
Diluted EPS
$2.38
$2.16
$1.11
+10.2%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
74.8
65.4
48.2
+14.4%
Capital expenditure
53.5
30.2
16.9
+77.2%
Free cash flow
21.3
35.2
31.3
-39.5%
Free cash flow margin
2.8%
5.7%
6.6%
Cash from investing
-60.3
-30.2
-70.5
Cash from financing
0.9
-43.4
22.0
Depreciation and amortisation
17.6
14.5
10.3
+21.5%
Share-based compensation
6.9
7.3
8.7
-6.3%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
39m
39m
39m
+0.5%
Shares outstanding at period end
39m
38m
38m
+1.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
422
321
235
+31.4%
Redeemable equity
15.7
14.3
13.0
+10.1%
Debt
68.0
59.4
98.6
+14.4%
Operating lease liabilities
11.6
n/a
n/a
Other liabilities
91.8
90.3
78.8
+1.6%
Total liabilities and equity
609
485
425
+25.6%
Fixed assets
108
64.8
43.6
+67.3%
Goodwill
93.5
88.8
88.4
+5.3%
Intangible assets
81.9
84.0
90.0
-2.4%
Cash and equivalents
43.7
28.0
35.9
+56.4%
Receivables
91.6
78.9
61.1
+16.2%
Inventory
129
107
84.8
+19.9%
Other assets
61.6
33.7
21.3
+83.0%
Total assets
609
485
425
+25.6%
10-K for the year ended 3 January 2020, filed 3 March 2020: the filing.