Fox Factory Beneish M Score

FOXF
 Stock
  

USD 102.63  6.67  6.10%   

This module uses fundamental data of Fox Factory to approximate the value of its Beneish M Score. Fox Factory M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please check Fox Factory Piotroski F Score and Fox Factory Altman Z Score analysis.
  
Fox Factory Debt Current is projected to increase significantly based on the last few years of reporting. The past year's Debt Current was at 17.5 Million. The current year Debt Non Current is expected to grow to about 389.4 M, whereas Issuance Repayment of Debt Securities is forecasted to decline to (12.8 M). Fox Factory Calculated Tax Rate is projected to decrease significantly based on the last few years of reporting. The past year's Calculated Tax Rate was at 13.04. The current year PPandE Turnover is expected to grow to 7.53, whereas Accounts Payable Turnover is forecasted to decline to 12.27.
At this time, it appears that Fox Factory Holding is an unlikely manipulator. The earnings manipulation may begin if Fox Factory's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Fox Factory executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Fox Factory's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-2.64
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables0.73Focus
Asset QualityN/AFocus
Expense Coverage1.0Focus
Gross Margin Strengs0.92Focus
Accruals Factor1.0Focus
Depreciation Resistance1.0Focus
Net Sales Growth1.08Focus
Financial Leverage Condition1.0Focus

Fox Factory Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Fox Factory's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense181.4 M168.2 M
Significantly Up
Increasing
Slightly volatile
Revenues1.4 B1.3 B
Significantly Up
Increasing
Slightly volatile
Trade and Non Trade Receivables112.5 M142 M
Significantly Down
Increasing
Slightly volatile
Property Plant and Equipment Net249 M230.8 M
Significantly Up
Increasing
Slightly volatile
Operating Income212.5 M196.9 M
Significantly Up
Increasing
Slightly volatile
Net Cash Flow from Operations52.4 M65.3 M
Significantly Down
Increasing
Slightly volatile
Liabilities Non Current422.7 M391.8 M
Significantly Up
Increasing
Slightly volatile
Current Liabilities248 M229.9 M
Significantly Up
Increasing
Slightly volatile
Total Liabilities670.7 M621.6 M
Significantly Up
Increasing
Slightly volatile
Gross Margin30.5433.2803
Significantly Down
Increasing
Slightly volatile
Depreciation Amortization and Accretion48.7 M45.1 M
Significantly Up
Increasing
Slightly volatile
Debt Non Current389.4 M361 M
Significantly Up
Increasing
Slightly volatile
Debt Current18.9 M17.5 M
Significantly Up
Increasing
Slightly volatile
Total Debt408.3 M378.5 M
Significantly Up
Increasing
Slightly volatile
Assets Non Current853.5 M791.1 M
Significantly Up
Increasing
Slightly volatile
Current Assets781.9 M724.7 M
Significantly Up
Increasing
Slightly volatile
Total Assets1.6 B1.5 B
Significantly Up
Increasing
Slightly volatile

Fox Factory Holding Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Fox Factory's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Fox Factory in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Fox Factory's degree of accounting gimmicks and manipulations.

About Fox Factory Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

48.67 Million

Fox Factory Depreciation Amortization and Accretion is projected to increase significantly based on the last few years of reporting. The past year's Depreciation Amortization and Accretion was at 45.11 Million

About Fox Factory Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Fox Factory Holding's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Fox Factory using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Fox Factory Holding based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. Fox Factory Holding Corp. was incorporated in 2007 and is headquartered in Duluth, Georgia. Fox Factory operates under Auto Parts classification in the United States and is traded on NASDAQ Exchange. It employs 4200 people.

Fox Factory Investors Sentiment

The influence of Fox Factory's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Fox Factory. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
Investor biases related to Fox Factory's public news can be used to forecast risks associated with investment in Fox Factory. The trend in average sentiment can be used to explain how an investor holding Fox Factory can time the market purely based on public headlines and social activities around Fox Factory Holding. Please note that most equiteis that are difficult to arbitrage are affected by market sentiment the most.
Fox Factory's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for Fox Factory's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average Fox Factory's news discussions. The higher the estimated score, the more favorable is the investor's outlook on Fox Factory.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Fox Factory in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Fox Factory's short interest history, or implied volatility extrapolated from Fox Factory options trading.

Becoming a Better Investor with Macroaxis

Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Fox Factory Holding using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.

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Please check Fox Factory Piotroski F Score and Fox Factory Altman Z Score analysis. You can also try Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.

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Is Fox Factory's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Fox Factory. If investors know Fox Factory will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Fox Factory listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
0.17
Market Capitalization
4.5 B
Quarterly Revenue Growth YOY
0.18
Return On Assets
0.0913
Return On Equity
0.2
The market value of Fox Factory Holding is measured differently than its book value, which is the value of Fox Factory that is recorded on the company's balance sheet. Investors also form their own opinion of Fox Factory's value that differs from its market value or its book value, called intrinsic value, which is Fox Factory's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Fox Factory's market value can be influenced by many factors that don't directly affect Fox Factory's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Fox Factory's value and its price as these two are different measures arrived at by different means. Investors typically determine Fox Factory value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Fox Factory's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.