# Fox Factory Holding Corp. (FOXF)

> Source: Nexqual · https://nexqual.com/FOXF · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Fox Factory Holding Corp. (FOXF), nexqual.com/FOXF" · informational, not investment advice.

**Price:** USD 15.33 (+3.23% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 14.85 · day 14.71–15.45 · 52w 13.08–25.43 · market cap $644M · NMS

## Key facts
- Last four reported quarters (through Jul 3, 2026): revenue $1.46B, net income -$299M (-20.4% margin), free cash flow $12.8M (SEC filings).
- Analysts: Hold (mean 2.83 on a 1–5 scale) (6 analysts), mean target USD 18.33 (range 16–21).
- Total return with dividends: 1Y -36.4% vs S&P 500 +14.9%; 5Y -90.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.35, revenue estimate $342M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.30B | $1.60B | $1.46B | $1.39B | $1.47B | $1.46B |
| Gross profit | $432M | $531M | $465M | $424M | $443M | — |
| Operating income | $197M | $247M | $160M | $57.7M | -$523M | -$267M |
| Net income | $164M | $205M | $121M | $6.5M | -$545M | -$299M |
| EPS (diluted) | $3.87 | $4.84 | $2.85 | $0.16 | -$13.03 | — |
| Free cash flow | $8.3M | $143M | $132M | $87.8M | $27.0M | $12.8M |
| Gross margin | 33.3% | 33.2% | 31.7% | 30.4% | 30.2% | — |
| Operating margin | 15.2% | 15.4% | 10.9% | 4.1% | -35.6% | -18.3% |
| Net margin | 12.6% | 12.8% | 8.3% | 0.5% | -37.1% | -20.4% |
| Revenue growth | +45.9% | +23.4% | -8.6% | -4.8% | +5.3% | — |
| Cash + short-term investments | $180M | $145M | $83.6M | $71.7M | $58.0M | — |
| Total debt | $378M | $0K | $374M | $552M | $524M | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 3, 2026)
P/S 0.4x · EV/Sales 0.7x · P/FCF 50.4x · P/B 1.0x · FCF yield 1.99% · Earnings yield -46.34% · Net debt $443M · EV $1.09B
P/E at fiscal year-ends: Jan 2025 174.0x, Dec 2023 23.7x.

## Analysts
Consensus Hold (mean 2.83 on a 1–5 scale), 6 analysts; mean target USD 18.33 (low 16, high 21).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | B. Riley Securities | Target lowered | Neutral | $20 → $16 |
| 2026-06-30 | B of A Securities | Downgrade | Neutral → Underperform | $24 → $20 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -36.4% | -90.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -36.5% | -36.9% |
| Volatility (annualized) | 57.7% | 51.2% |
| Max drawdown | -47.0% (Oct 2025→Nov 2025) | -92.5% (Nov 2021→Nov 2025) |

## Peers (Auto Parts)
ATMU (Atmus Filtration Technologies I) USD 44.75 -0.73% · DORM (Dorman Products, Inc.) USD 127.49 +3.34% · GTX (Garrett Motion Inc.) USD 22 -8.07% · GNTX (Gentex Corporation) USD 21.74 +3.52% · LKQ (LKQ Corporation) USD 22.47 +5.10% · LEA (Lear Corporation) USD 118.61 +0.61%

## More
Full page: https://nexqual.com/FOXF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in FOXF's own 10-K filed 2026-02-27 (https://www.sec.gov/Archives/edgar/data/1424929/000142492926000012/foxf-20260102.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Stellantis (STLA) | "Many of our OEM customers, including Specialized, Trek Bicycles, Giant, Cube, Orbea, Canyon Bicycles, Santa Cruz Bicycles, and Yeti Cycles in Specialty Sports and BRP, Ford Motor Company ("Ford"), Polaris, Toyota, 4 Whee…" |
| Customer | Ford (F) | "Many of our OEM customers, including Specialized, Trek Bicycles, Giant, Cube, Orbea, Canyon Bicycles, Santa Cruz Bicycles, and Yeti Cycles in Specialty Sports and BRP, Ford Motor Company ("Ford"), Polaris, Toyota, 4 Whee…" |
| Customer | Toyota (TM) | "Many of our OEM customers, including Specialized, Trek Bicycles, Giant, Cube, Orbea, Canyon Bicycles, Santa Cruz Bicycles, and Yeti Cycles in Specialty Sports and BRP, Ford Motor Company ("Ford"), Polaris, Toyota, 4 Whee…" |
| Customer | Honda (HMC) | "Many of our OEM customers, including Specialized, Trek Bicycles, Giant, Cube, Orbea, Canyon Bicycles, Santa Cruz Bicycles, and Yeti Cycles in Specialty Sports and BRP, Ford Motor Company ("Ford"), Polaris, Toyota, 4 Whee…" |
| Customer | Marucci Sports | "Our products for diamond sports include premium baseball and softball equipment under the Marucci, Victus, Lizard Skins, and Baum Bat brands and are sold through dealers and distributors and through direct-to-customer ch…" |
| Partner | General Motors (GM) | "Our upfitting category leverages our strong partnerships with Ford, General Motors, Jeep, Nissan and RAM, enabling us to obtain truck, van and SUV chassis directly from the manufacturers' facilities." |

## Revenue by business segment (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Specialty Sports Group | $124.3M | 34.7% | -9.4% |
| Powered Vehicles Group | $124.2M | 34.7% | +0.6% |
| Aftermarket Applications Group | $109.6M | 30.6% | -4.0% |
| Total revenue | $358.1M | 100% | — |

## Revenue by product line (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Specialty Sports Group | $124.3M | 34.7% | -9.4% |
| Powered Vehicles Group | $124.2M | 34.7% | +0.6% |
| Aftermarket Applications Group | $109.6M | 30.6% | -4.0% |
| Total revenue | $358.1M | 100% | — |

## Revenue by region (quarter ended 2026-07-03)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| North America | $262.8M | 73.4% | -3.3% |
| Europe | $52.8M | 14.7% | -9.3% |
| Asia | $36.5M | 10.2% | -5.8% |
| Rest of the World | $6.1M | 1.7% | -3.7% |
| Total revenue | $358.1M | 100% | — |

## Customer concentration

Period ended 2026-01-02: 12% of revenue from unnamed direct customers (10-K, filed 2026-02-27).

## Company outlook (8-K filed 2026-10-16)

- "Fiscal 2026 Outlook for Divestiture of Marucci and Operating Performance;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.35 | $0.53 | -34.0% | $342.3M | 6 |
| Next quarter (ends 2026-12-31) | $0.17 | $0.51 | -66.6% | $308.1M | 6 |
| Current fiscal year (ends 2026-12-31) | $1.05 | $1.40 | -25.0% | $1.38B | 6 |
| Next fiscal year (ends 2027-12-31) | $1.31 | $1.74 | -25.0% | $1.31B | 6 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±18.3%; last 8 reports averaged ±12.1%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 81.8% | ±18.3% |
| 2026-12-18 | 56 | 88.3% | ±27.4% |
| 2027-03-19 | 147 | 72.2% | ±35.4% |
| 2027-06-17 | 237 | 60.5% | ±37.2% |