Forensic Analysis · Aerospace & Defense · as of Nov 9, 2026

Fox Factory Holding Corp (FOXF)

A forensic read on Fox Factory Holding Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Grey Zone

Financial health

1.1

Distress distance

Clean

Earnings quality

Forensic signals

-58.2%

ROE

5.3%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Fox Factory Holding Corp earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 1.1, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-25.0%

FY2025

Return on invested capital. Return on invested capital is -25.0% in the latest fiscal year and slipping across FY2023–FY2025 from 7.2%. After-tax operating profit was $140M in FY2023 and ($413M) in FY2025, with operating income at 10.9% of revenue in FY2023, 4.1% in FY2024 and -35.6% in FY2025. The capital base behind it came down -15% across FY2023–FY2025, from $2.0B to $1.7B, so this return is struck on a smaller base than it started on. FY2025's operating profit carried a $557M goodwill write-off and a $14M asset write-down that alone took about 27.3 points off that year's return, so about 27.3 of the 32.2-point fall across FY2023–FY2025 is that charge landing in the latest year rather than the capital earning less. A non-cash write-down lowers the reported return in the year it lands.

stopped

FY2024→FY2025

Shareholder returns — halted. Capital returns have STOPPED — $25M of buybacks + dividends in FY2024, but ~$0 in FY2025. A halt usually means the company is conserving cash.

$557M

FY2025

Goodwill impairments. Took $557M of goodwill writedowns across 1 year (FY2025 ($557M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$1.47B

Revenue Growth YoY+5.3%

Revenue CAGR (2yr)+0.1%

Net Margin-37.1%

Free Cash Flow$27.0M

Return on Equity-58.2%

Debt / Equity0.78x

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.