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Fox Factory Holding
(NASDAQ:FOXF)
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Rating:45Neutral
Price Target:
$18.50
▼(-12.16% Downside)
Action:Reiterated
Date:09/30/26
The score is primarily held back by deteriorating profitability and weakening free cash flow, which outweigh the balance-sheet improvement. Technical indicators also point to soft near-term momentum. The Wheelhouse divestiture is a meaningful positive that improves leverage and interest burden, but it does not fully offset the current earnings and cash-flow weakness.
Positive Factors
Deleveraging and core-business focus
The divestiture removes exposure to the Marucci baseball-equipment business and directs cash toward debt reduction. Lower borrowing should reduce interest expense and improve financial flexibility, while concentrating resources on Fox Factory’s core performance-products operations over the next several quarters.
Negative Factors
Sharp profitability deterioration
The swing from solid profits in 2022–2023 to substantial losses in 2026 materially weakens earnings quality and reduces internal funding capacity. Persistent operating losses could impair reinvestment, increase dependence on balance-sheet resources, and make recovery more sensitive to revenue and cost execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Deleveraging and core-business focus
The divestiture removes exposure to the Marucci baseball-equipment business and directs cash toward debt reduction. Lower borrowing should reduce interest expense and improve financial flexibility, while concentrating resources on Fox Factory’s core performance-products operations over the next several quarters.
Read all positive factors
Fox Factory Holding (FOXF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$772.11M
Dividend YieldN/A
Average Volume (3M)444.88K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth1.55%
EPS Growth-18.03%
CountryUS
Employees3,700
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Parts
Share Statistics
EPS (TTM)-7.14
Shares Outstanding42,031,002
10 Day Avg. Volume604,984
30 Day Avg. Volume444,880
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.09
Price to Sales (P/S)0.50
P/FCF Ratio27.03
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$21.67Price Target Upside2.88% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)1.57
Revenue Forecast (FY)$1.44B
Fox Factory Holding Business Overview & Revenue Model
Company Description
Fox Factory Holding Corp. is a global enterprise dedicated to the design, engineering, production, and distribution of advanced ride dynamics solutions. The company's product line features sophisticated front fork and rear suspension systems for a...
How the Company Makes Money
FOXF makes money by selling suspension and ride-dynamics products through two primary channels: OEM (original equipment manufacturer) supply and the aftermarket.
1) OEM sales (B2B supply to manufacturers)
- FOXF supplies suspension components (e....
Fox Factory Holding Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
Balanced/Neutral — The company beat Q1 guidance on revenue and adjusted EBITDA, closed a planned divestiture, is executing a $50M cost savings program, and secured improved tariff treatment via Section 232 while reaffirming full‑year guidance. Offsetting these positives are real margin compression (gross margin down ~200 bps), declines in adjusted net income and EBITDA versus year‑ago, softness in SSG/Marzocchi, an aluminum supply disruption impacting AAG volumes (Q1–Q2), a near‑term $15M tariff headwind in H1, and a modest increase in debt and leverage. Management presents a credible plan to capture savings and margin expansion in the back half, so the call conveys cautious confidence but with notable near‑term challenges.Positive Updates
Revenue at High End of Guidance and Year‑over‑Year Growth
Total consolidated net sales of $368.7 million in Q1, up 3.9% year‑over‑year and reported at the high end of management's guidance range.
Negative Updates
Gross Margin Contraction
Gross margin declined to 28.9% in Q1 from 30.9% a year ago (down ~200 basis points), primarily driven by tariffs, shifts in product mix and higher steel and aluminum costs.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue at High End of Guidance and Year‑over‑Year Growth
Total consolidated net sales of $368.7 million in Q1, up 3.9% year‑over‑year and reported at the high end of management's guidance range.
Read all positive updates
Company Guidance
Fox reaffirmed its 2026 guidance, reiterating full-year net sales of $1.328–$1.416 billion and adjusted EBITDA of $174–$203 million (midpoint implying roughly a ~200 bps year‑over‑year adjusted EBITDA margin improvement), and gave Q2 guidance of $343–$365 million in net sales and $32–$40 million of adjusted EBITDA; Q1 actuals were $368.7 million of revenue and $35.7 million of adjusted EBITDA (9.7% adj. EBITDA margin), with gross margin at 28.9%, adjusted operating expenses of $85.5 million (23.2% of sales), adjusted net income of $7.4 million ($0.18/sh), capex of $5.4 million in Q1 (~1.5% of revenue) and a full‑year capex target of ~2% of revenue, a debt balance of ~$688.2 million (up ~$15 million sequentially), an expected ~ $50 million of cost savings in 2026 ($10 million carryover + ~$40 million Phase 2), an anticipated tax rate of 15–18%, and a tariff outlook that reduced the prior ~$15 million headwind to approximately neutral overall under Section 232 (ex‑Marzocchi, where the tariff fell from 22% to 10% with the P&L benefit likely phasing in later).Fox Factory Holding Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
56
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.46B | 1.47B | 1.39B | 1.46B | 1.60B | 1.30B |
| Gross Profit | 426.67M | 443.25M | 423.58M | 464.81M | 531.34M | 432.33M |
| EBITDA | -166.91M | -430.31M | 139.52M | 216.59M | 291.94M | 239.97M |
| Net Income | -298.57M | -544.58M | 6.55M | 120.85M | 205.28M | 163.82M |
Balance Sheet | ||||||
| Total Assets | 1.64B | 1.67B | 2.23B | 2.24B | 1.62B | 1.52B |
| Cash, Cash Equivalents and Short-Term Investments | 61.28M | 58.01M | 71.67M | 83.64M | 145.25M | 179.69M |
| Total Debt | 680.16M | 779.55M | 721.74M | 757.64M | 210.31M | 387.55M |
| Total Liabilities | 969.63M | 1.00B | 1.03B | 1.02B | 496.95M | 621.65M |
| Stockholders Equity | 667.05M | 670.18M | 1.20B | 1.22B | 1.12B | 894.08M |
Cash Flow | ||||||
| Free Cash Flow | 12.57M | 26.95M | 87.79M | 131.89M | 143.39M | 10.44M |
| Operating Cash Flow | 36.60M | 60.92M | 131.83M | 178.74M | 187.09M | 65.29M |
| Investing Cash Flow | -13.90M | -33.97M | -76.29M | -750.40M | -44.73M | -106.73M |
| Financing Cash Flow | -40.13M | -40.01M | -67.33M | 508.98M | -179.14M | -24.10M |
Fox Factory Holding Technical Analysis
Negative
21.06
Price Trends
19.84
Negative
18.71
Negative
18.25
Positive
Market Momentum
-0.44
Positive
42.34
Neutral
46.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FOXF, the sentiment is Negative. The current price of 21.06 is above the 20-day moving average (MA) of 19.15, above the 50-day MA of 19.84, and above the 200-day MA of 18.25, indicating a neutral trend. The MACD of -0.44 indicates Positive momentum. The RSI at 42.34 is Neutral, neither overbought nor oversold. The STOCH value of 46.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FOXF.
Fox Factory Holding Risk Analysis
Fox Factory Holding disclosed 58 risk factors in its most recent earnings report. Fox Factory Holding reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fox Factory Holding Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $1.23B | 22.71 | 19.15% | ― | 13.19% | 12.64% | |
66 Neutral | $3.65B | 16.95 | 14.76% | 4.50% | 3.30% | -1.80% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
53 Neutral | $5.76B | 12.67 | 7.09% | 5.26% | -2.55% | -33.32% | |
52 Neutral | $285.93M | 27.02 | 2.30% | ― | 3.26% | ― | |
45 Neutral | $772.11M | -2.61 | -40.46% | ― | 1.55% | -18.03% | |
44 Neutral | $7.04M | -0.20 | -101.85% | ― | 47.63% | 46.31% |
* Consumer Cyclical Sector Average
FOXF
Fox Factory Holding
18.65
-6.95
-27.15%
DORM
Dorman Products
123.06
-34.09
-21.69%
LKQ
LKQ
22.80
-7.23
-24.08%
WKSP
Worksport
0.46
-2.88
-86.32%
XPEL
XPEL
44.97
11.36
33.80%
HLLY
Holley
2.34
-0.70
-23.03%
Fox Factory Holding Corporate Events
Business Operations and StrategyM&A Transactions
Fox Factory Divests Wheelhouse to Focus Core Business
Positive
Sep 29, 2026
On September 25, 2026, Fox Factory, Inc. completed the divestiture of Wheelhouse Holdings Inc., parent of Marucci Sports, LLC, selling all outstanding shares to Squared Up Holdings, LLC, an investor vehicle led by Marucci senior management. The tr...
Business Operations and StrategyM&A Transactions
Fox Factory Holding Divests Wheelhouse to Cut Leverage
Positive
Sep 25, 2026
On September 25, 2026, Fox Factory Holding Corp. announced it had completed the $225 million sale of Wheelhouse Holdings Inc., parent of Marucci Sports LLC, to Squared Up Holdings LLC, an investor group led by Marucci’s senior management. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.