Fox Factory Holding (FOXF) FY2020 results: revenue $891 million, up 18.6% on the year
Fox Factory Holding Corp. (FOXF) reported revenue of $891 million for fiscal 2020, the year ended 1 January 2021, up 18.6% on the year before. Net income was $91 million, down 2.5%, and diluted earnings per share $2.22. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$891 million
+18.6% on the year
FY2013FY2020
Operating margin
12.8%
15.0% a year earlier
FY2013FY2020
Net income
$91 million
-2.5% on the year
FY2013FY2020
Diluted EPS
$2.22
-6.7% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
891
751
619
+18.6%
Cost of revenue
601
508
414
+18.2%
Gross profit
290
243
205
+19.3%
Gross margin
32.5%
32.3%
33.2%
Research and development
34.3
31.8
25.8
+7.9%
Operating income
114
113
94.5
+1.2%
Operating margin
12.8%
15.0%
15.3%
Interest expense
9.3
3.2
3.1
+192.9%
Pre-tax income
105
109
90.9
-3.7%
Income tax
12.8
14.1
5.5
-9.3%
Effective tax rate
12.2%
13.0%
6.1%
Net income
90.7
93.0
84.0
-2.5%
Net margin
10.2%
12.4%
13.6%
Diluted EPS
$2.22
$2.38
$2.16
-6.7%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
82.5
74.8
65.4
+10.2%
Capital expenditure
56.7
53.5
30.2
+6.0%
Free cash flow
25.8
21.3
35.2
+20.9%
Free cash flow margin
2.9%
2.8%
5.7%
Cash from investing
-389
-60.3
-30.2
Cash from financing
507
0.9
-43.4
+58,889.8%
Depreciation and amortisation
33.9
17.6
14.5
+93.2%
Share-based compensation
8.6
6.9
7.3
+25.6%
Buybacks
n/a
n/a
0.0
Diluted shares, weighted
41m
39m
39m
+4.2%
Shares outstanding at period end
42m
39m
38m
+8.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
719
422
321
+70.3%
Redeemable equity
0.0
15.7
14.3
Debt
390
68.0
59.4
+472.9%
Operating lease liabilities
19.1
11.6
n/a
+65.0%
Other liabilities
159
91.8
90.3
+72.8%
Total liabilities and equity
1,287
609
485
+111.1%
Fixed assets
163
108
64.8
+50.7%
Goodwill
289
93.5
88.8
+209.4%
Intangible assets
204
81.9
84.0
+149.5%
Cash and equivalents
246
43.7
28.0
+461.9%
Receivables
121
91.6
78.9
+32.3%
Inventory
127
129
107
-1.1%
Other assets
135
61.6
33.7
+119.8%
Total assets
1,287
609
485
+111.1%
10-K for the year ended 1 January 2021, filed 25 February 2021: the filing.