Fox Factory vs Standard Motor Products
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The short version
- Standard Motor Products is the larger business, with $1.8B of revenue in fiscal 2025 against $1.5B for Fox Factory.
- Standard Motor Products grew revenue faster (22.4%, against 5.3%).
- Standard Motor Products kept more of each dollar of sales as operating profit (7.6% operating margin, against −35.6%).
- Fox Factory turned more of its sales into free cash flow (1.8% FCF margin, against 1.0%).
- Standard Motor Products earned a higher return on the capital invested in it (8.3%, against −29.3%).
| Latest fiscal year | FOXF · FY25 | SMP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $637M | $853M |
| Revenue | $1.5B | $1.8B |
| Free cash flow | $27.0M | $18.7M |
| Net income | −$545M | $41.3M |
| Growth | ||
| Revenue growth | 5.3% | 22.4% |
| 5-year growth | 10.5% | 9.7% |
| Share count change | 0.2% | 1.1% |
| Profitability | ||
| Gross margin | 30.2% | 31.2% |
| Operating margin | −35.6% | 7.6% |
| Net margin | −37.1% | 2.3% |
| FCF margin | 1.8% | 1.0% |
| Return on capital | −29.3% | 8.3% |
| Return on equity | −58.2% | 6.4% |
| Balance sheet | ||
| Net debt | $466M | $547M |
| Net debt / EBITDA | — | 3.0x |
| Dividends and buybacks | $0.0M | $27.3M |
| Valuation & quality | ||
| P/E | — | 16.6x |
| Piotroski F-score | 4 | 7 |
Revenue
FY16
FOXF $403M
SMP $1.1B
FY17
FOXF $476M
SMP $1.1B
FY18
FOXF $619M
SMP $1.1B
FY19
FOXF $751M
SMP $1.1B
FY20
FOXF $891M
SMP $1.1B
FY21
FOXF $1.3B
SMP $1.3B
FY22
FOXF $1.6B
SMP $1.4B
FY23
FOXF $1.5B
SMP $1.4B
FY24
FOXF $1.4B
SMP $1.5B
FY25
FOXF $1.5B
SMP $1.8B
FOXF
SMP
Operating margin
FY16
FOXF 11.3%
SMP 9.3%
FY17
FOXF 14.1%
SMP 8.7%
FY18
FOXF 15.3%
SMP 7.4%
FY19
FOXF 15.0%
SMP 8.3%
FY20
FOXF 12.8%
SMP 9.7%
FY21
FOXF 15.2%
SMP 9.9%
FY22
FOXF 15.4%
SMP 7.6%
FY23
FOXF 10.9%
SMP 6.8%
FY24
FOXF 4.1%
SMP 5.5%
FY25
FOXF −35.6%
SMP 7.6%
FOXF
SMP
Free cash flow
FY16
FOXF $26.8M
SMP $76.9M
FY17
FOXF $31.3M
SMP $40.2M
FY18
FOXF $35.2M
SMP $50.1M
FY19
FOXF $21.3M
SMP $60.7M
FY20
FOXF $25.8M
SMP $80.1M
FY21
FOXF $8.3M
SMP $59.7M
FY22
FOXF $143M
SMP −$53.5M
FY23
FOXF $132M
SMP $116M
FY24
FOXF $87.8M
SMP $32.7M
FY25
FOXF $27.0M
SMP $18.7M
FOXF
SMP
Return on capital
FY16
FOXF 18.5%
SMP 15.7%
FY17
FOXF 18.8%
SMP 11.4%
FY18
FOXF 28.9%
SMP 13.5%
FY19
FOXF —
SMP 14.1%
FY20
FOXF —
SMP 14.9%
FY21
FOXF 17.5%
SMP 15.6%
FY22
FOXF 20.9%
SMP 9.9%
FY23
FOXF 11.2%
SMP 8.9%
FY24
FOXF 3.6%
SMP 6.2%
FY25
FOXF −29.3%
SMP 8.3%
FOXF
SMP
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.