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The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Fox Factory Holding has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Fox Factory Holding's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Fox Factory Holding was 8. The lowest was 3. And the median was 5.
The historical data trend for Fox Factory Holding's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Fox Factory Holding Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 4.00 | 4.00 | 5.00 | 5.00 |
Fox Factory Holding Quarterly Data | ||||||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | |
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 5.00 | 5.00 | 4.00 | 4.00 |
For the Auto Parts subindustry, Fox Factory Holding's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the Vehicles & Parts industry and Consumer Cyclical sector, Fox Factory Holding's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Fox Factory Holding's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Jun24) TTM: | Last Year (Jun23) TTM: |
Net Income was 35.293 + 4.051 + -3.496 + 5.407 = $41 Mil. Cash Flow from Operations was 129.993 + 52.058 + 9.352 + 26.685 = $218 Mil. Revenue was 331.117 + 332.495 + 333.472 + 348.491 = $1,346 Mil. Gross Profit was 107.227 + 92.261 + 103.158 + 110.963 = $414 Mil. Average Total Assets from the begining of this year (Jun23) to the end of this year (Jun24) was (1793.763 + 1674.358 + 2242.298 + 2248.277 + 2265.621) / 5 = $2044.8634 Mil. Total Assets at the begining of this year (Jun23) was $1,794 Mil. Long-Term Debt & Capital Lease Obligation was $734 Mil. Total Current Assets was $792 Mil. Total Current Liabilities was $253 Mil. |
Net Income was 50.771 + 52.959 + 41.767 + 39.735 = $185 Mil. Revenue was 409.168 + 408.641 + 399.851 + 400.715 = $1,618 Mil. Gross Profit was 137.267 + 130.872 + 133.298 + 132.026 = $533 Mil. Average Total Assets from the begining of last year (Jun22) to the end of last year (Jun23) was (1718.223 + 1677.865 + 1618.336 + 1824.432 + 1793.763) / 5 = $1726.5238 Mil. Total Assets at the begining of last year (Jun22) was $1,718 Mil. Long-Term Debt & Capital Lease Obligation was $325 Mil. Total Current Assets was $847 Mil. Total Current Liabilities was $208 Mil. |
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Fox Factory Holding's current Net Income (TTM) was 41.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Fox Factory Holding's current Cash Flow from Operations (TTM) was 218.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Score 1 if it's higher, 0 if it's lower.
ROA (This Year) | = | Net Income | / | Total Assets (Jun23) |
= | 41.255 | / | 1793.763 | |
= | 0.02299914 |
ROA (Last Year) | = | Net Income | / | Total Assets (Jun22) |
= | 185.232 | / | 1718.223 | |
= | 0.1078044 |
Fox Factory Holding's return on assets of this year was 0.02299914. Fox Factory Holding's return on assets of last year was 0.1078044.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
Fox Factory Holding's current Net Income (TTM) was 41. Fox Factory Holding's current Cash Flow from Operations (TTM) was 218.
==> 218 > 41 ==> CFROA > ROA ==> Score 1.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Gearing (This Year: Jun24) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun23 to Jun24 |
= | 733.833 | / | 2044.8634 | |
= | 0.35886651 |
Gearing (Last Year: Jun23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Jun22 to Jun23 |
= | 325 | / | 1726.5238 | |
= | 0.18823951 |
Fox Factory Holding's gearing of this year was 0.35886651. Fox Factory Holding's gearing of last year was 0.18823951.
==> Last year is lower than this year ==> Score 0.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Current Ratio (This Year: Jun24) | = | Total Current Assets | / | Total Current Liabilities |
= | 791.72 | / | 252.827 | |
= | 3.13146934 |
Current Ratio (Last Year: Jun23) | = | Total Current Assets | / | Total Current Liabilities |
= | 846.722 | / | 207.562 | |
= | 4.07936906 |
Fox Factory Holding's current ratio of this year was 3.13146934. Fox Factory Holding's current ratio of last year was 4.07936906.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Fox Factory Holding's number of shares in issue this year was 41.705. Fox Factory Holding's number of shares in issue last year was 42.48.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 413.609 | / | 1345.575 | |
= | 0.30738458 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 533.463 | / | 1618.375 | |
= | 0.32962879 |
Fox Factory Holding's gross margin of this year was 0.30738458. Fox Factory Holding's gross margin of last year was 0.32962879.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Jun23) |
= | 1345.575 | / | 1793.763 | |
= | 0.7501409 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Jun22) |
= | 1618.375 | / | 1718.223 | |
= | 0.9418888 |
Fox Factory Holding's asset turnover of this year was 0.7501409. Fox Factory Holding's asset turnover of last year was 0.9418888.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 1 | + | 1 | + | 0 | + | 1 | + | 0 | + | 0 | + | 1 | + | 0 | + | 0 | |
= | 4 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Fox Factory Holding has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Fox Factory Holding (NAS:FOXF) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Thank you for viewing the detailed overview of Fox Factory Holding's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Christopher Tutton | officer: SEE REMARKS (A) | C/O FOX FACTORY HOLDING CORP., 6634 HIGHWAY 53, BRASELTON GA 30517 |
Ted Waitman | director | SIXTY ONE WILTON ROAD, SECOND FLOOR, WESTPORT CT 06880 |
Michael C. Dennison | director | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Thomas L. Fletcher | officer: SEE REMARKS (A) | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Thomas E. Duncan | director | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Paul Stecher | officer: SEE REMARKS (A) | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Dennis Charles Schemm | officer: CFO & Treasurer | CONTINENTAL BUILDING PRODUCTS, 12950 WORLDGATE DRIVE, HERNDON VA 20170 |
Dudley W Mendenhall | director | 5818 EL CAMINO REAL, CARLSBAD CA 92008 |
Brendan Enick | officer: Chief Accounting Officer | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Maggie Elizabeth Torres | officer: Interim CFO & Treasurer | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Elizabeth A Fetter | director | 1400 MARINA WAY SOUTH, RICHMOND CA 94804 |
Richard T. Winters | officer: SEE REMARKS (A) | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Scott Randall Humphrey | officer: CFO & TREASURER | C/O FOX FACTORY HOLDING CORP., 6634 HIGHWAY 53, BRASELTON GA 30517 |
Toby D Merchant | officer: Chief Legal Officer | C/O FOX FACTORY HOLDING CORP., 2055 SUGARLOAF CIRCLE, SUITE 300, DULUTH GA 30097 |
Larry L Enterline | director, officer: Chief Executive Officer | 2709 WATER RIDGE PARKWAY, 2ND FLOOR, CHARLOTTE NC 28217 |
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