Forensic Analysis · Industrials / Manufacturing / Defense · as of Jun 27, 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.
A · High-quality compounder
Forensic grade
Grey Zone
Financial health
1.1
Altman Z-score
Clean
Earnings quality
6
Forensic signals
-37.0%
ROE
$793M
Market cap
FOX FACTORY HOLDING CORP earns a A (High-quality compounder) forensic quality grade, and its Altman Z-score is 1.1, placing it in the Grey zone. 6 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-30%Return on invested capital.Return on invested capital is -30% and slipping from 16% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 53% of free cash flow in FY2026 — about $0.34 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
stoppedShareholder returns — halted.Capital returns have STOPPED — $25M of buybacks + dividends in FY2025, but ~$0 in FY2026. A halt usually means the company is conserving cash; understand why before reading it as neutral.
47d DSOReceivables vs revenue.Days sales outstanding moved from 43 to 47 days FY2025→FY2026 (receivables +15% vs revenue +5%). Receivables are creeping up relative to sales — watch the trend.
-0.4%/yrShare-count dilution.Diluted share count changed -1% over the last 4 years to FY2026 (-0.4%/yr). Roughly flat — buybacks are about offsetting stock comp, not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
$557MGoodwill impairments.Took $557M of goodwill writedowns across 1 year(s) (FY2026 ($557M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-37.1%
Debt / Equity0.78x
Free Cash Flow$27.0M
Latest Revenue$1.47B
Return on Equity-81.3%
Revenue Growth YoY+5.3%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on FOX FACTORY HOLDING CORP:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about FOXF's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown