$Fox Factory (FOXF.US)$It is an American company that went p...

Over the past five years, the gross profit margin has been basically around 32.3%, and the return on net assets has remained above 20% except 16% in 2020, both indicators are good.

Both revenue and operating profit increased for five years, and net profit increased for four years except 2020, with a surge of 46%, 73% and 79%, respectively, in 2021.

The average growth rate of net profit was 37% in five years and 24% in the past three years.

After the surge, we should pay attention to sustainability. In the first two quarters of 2022, revenue increased by 28.8%, operating profit increased by 26.4%, and net profit increased by 23.5%.

The income statement shows that interest expenses account for 4% of operating profit in 2021, the burden is very low, other subjects are very few, and the income statement is very clean.

The asset-liability ratio has gradually fallen from 45.2% to 41.7% over the past five years. The balance sheet shows that the ratio of accounts receivable to inventory is normal, but inventory has obviously increased too fast, increasing by 150 million in 2021, approaching net profit of 164 million in 2021. However, considering the absolute value of revenue growth, it is acceptable.

Goodwill 324 million, accounting for 32% of net assets, long-term loans of 410 million, accounting for 41% of net assets, leverage ratio is acceptable.

Over the past five years, the net amount of operation is lower than the net amount of investment, and there is no shareholder surplus.

The current price-to-earnings ratio is 20.2and the price-to-earnings ratio is TTM 18.1, so you can choose it carefully (⭐️).