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Side-by-side financial comparison of FOX FACTORY HOLDING CORP (FOXF) and INDEPENDENT BANK CORP (INDB). Click either name above to swap in a different company.
FOX FACTORY HOLDING CORP is the larger business by last-quarter revenue ($376.4M vs $212.5M, roughly 1.8× INDEPENDENT BANK CORP). INDEPENDENT BANK CORP runs the higher net margin — 35.5% vs -0.2%, a 35.6% gap on every dollar of revenue. On growth, INDEPENDENT BANK CORP posted the faster year-over-year revenue change (46.9% vs 4.8%). INDEPENDENT BANK CORP produced more free cash flow last quarter ($75.5M vs $-2.5M). Over the past eight quarters, INDEPENDENT BANK CORP's revenue compounded faster (24.3% CAGR vs 6.4%).
Fox Factory Holding Corp. is an American company best known for their Fox Racing Shox brand of off-road racing suspension components.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
FOXF vs INDB — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $376.4M | $212.5M |
| Net Profit | $-634.0K | $75.3M |
| Gross Margin | 30.4% | — |
| Operating Margin | 4.0% | — |
| Net Margin | -0.2% | 35.5% |
| Revenue YoY | 4.8% | 46.9% |
| Net Profit YoY | -113.3% | 50.6% |
| EPS (diluted) | $-0.02 | $1.51 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $376.4M | $212.5M | ||
| Q3 25 | $374.9M | $203.3M | ||
| Q2 25 | $355.0M | $147.5M | ||
| Q1 25 | $352.8M | $145.5M | ||
| Q4 24 | — | $144.7M | ||
| Q3 24 | $359.1M | $141.7M | ||
| Q2 24 | $348.5M | $137.9M | ||
| Q1 24 | $333.5M | $137.4M |
| Q4 25 | $-634.0K | $75.3M | ||
| Q3 25 | $2.7M | $34.3M | ||
| Q2 25 | $-259.7M | $51.1M | ||
| Q1 25 | $-141.0K | $44.4M | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | $4.8M | $42.9M | ||
| Q2 24 | $5.4M | $51.3M | ||
| Q1 24 | $-3.5M | $47.8M |
| Q4 25 | 30.4% | — | ||
| Q3 25 | 31.2% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 28.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 31.8% | — | ||
| Q1 24 | 30.9% | — |
| Q4 25 | 4.0% | — | ||
| Q3 25 | 4.9% | 21.8% | ||
| Q2 25 | -70.6% | 44.6% | ||
| Q1 25 | 3.2% | 39.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.2% | 39.0% | ||
| Q2 24 | 5.3% | 48.1% | ||
| Q1 24 | 2.7% | 45.5% |
| Q4 25 | -0.2% | 35.5% | ||
| Q3 25 | 0.7% | 16.8% | ||
| Q2 25 | -73.1% | 34.6% | ||
| Q1 25 | -0.0% | 30.5% | ||
| Q4 24 | — | 34.6% | ||
| Q3 24 | 1.3% | 30.3% | ||
| Q2 24 | 1.6% | 37.2% | ||
| Q1 24 | -1.0% | 34.8% |
| Q4 25 | $-0.02 | $1.51 | ||
| Q3 25 | $0.07 | $0.69 | ||
| Q2 25 | $-6.23 | $1.20 | ||
| Q1 25 | $0.00 | $1.04 | ||
| Q4 24 | — | $1.18 | ||
| Q3 24 | $0.11 | $1.01 | ||
| Q2 24 | $0.13 | $1.21 | ||
| Q1 24 | $-0.08 | $1.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $536.7M | — |
| Stockholders' EquityBook value | $956.0M | $3.6B |
| Total Assets | $2.0B | $24.9B |
| Debt / EquityLower = less leverage | 0.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $71.7M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $536.7M | — | ||
| Q3 25 | $541.8M | — | ||
| Q2 25 | $546.9M | — | ||
| Q1 25 | $552.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $558.4M | — | ||
| Q2 24 | $564.1M | — | ||
| Q1 24 | $370.4M | — |
| Q4 25 | $956.0M | $3.6B | ||
| Q3 25 | $958.7M | $3.5B | ||
| Q2 25 | $939.9M | $3.1B | ||
| Q1 25 | $1.2B | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | $1.2B | $3.0B | ||
| Q2 24 | $1.2B | $2.9B | ||
| Q1 24 | $1.2B | $2.9B |
| Q4 25 | $2.0B | $24.9B | ||
| Q3 25 | $2.0B | $25.0B | ||
| Q2 25 | $1.9B | $20.0B | ||
| Q1 25 | $2.2B | $19.9B | ||
| Q4 24 | — | $19.4B | ||
| Q3 24 | $2.3B | $19.4B | ||
| Q2 24 | $2.3B | $19.4B | ||
| Q1 24 | $2.2B | $19.3B |
| Q4 25 | 0.56× | — | ||
| Q3 25 | 0.57× | — | ||
| Q2 25 | 0.58× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.47× | — | ||
| Q1 24 | 0.31× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.3M | $78.9M |
| Free Cash FlowOCF − Capex | $-2.5M | $75.5M |
| FCF MarginFCF / Revenue | -0.7% | 35.5% |
| Capex IntensityCapex / Revenue | 2.1% | 1.6% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $85.4M | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.3M | $78.9M | ||
| Q3 25 | $36.8M | $52.2M | ||
| Q2 25 | $680.0K | $106.7M | ||
| Q1 25 | $81.7M | $13.3M | ||
| Q4 24 | — | $42.9M | ||
| Q3 24 | $14.1M | $70.2M | ||
| Q2 24 | $26.7M | $65.6M | ||
| Q1 24 | $9.4M | $51.1M |
| Q4 25 | $-2.5M | $75.5M | ||
| Q3 25 | $24.6M | $49.7M | ||
| Q2 25 | $-6.5M | $102.5M | ||
| Q1 25 | $69.8M | $11.3M | ||
| Q4 24 | — | $36.5M | ||
| Q3 24 | $3.2M | $64.4M | ||
| Q2 24 | $15.4M | $61.9M | ||
| Q1 24 | $-555.0K | $46.7M |
| Q4 25 | -0.7% | 35.5% | ||
| Q3 25 | 6.6% | 24.4% | ||
| Q2 25 | -1.8% | 69.5% | ||
| Q1 25 | 19.8% | 7.8% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | 0.9% | 45.4% | ||
| Q2 24 | 4.4% | 44.9% | ||
| Q1 24 | -0.2% | 34.0% |
| Q4 25 | 2.1% | 1.6% | ||
| Q3 25 | 3.3% | 1.2% | ||
| Q2 25 | 2.0% | 2.9% | ||
| Q1 25 | 3.4% | 1.4% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | 3.0% | 4.1% | ||
| Q2 24 | 3.2% | 2.7% | ||
| Q1 24 | 3.0% | 3.2% |
| Q4 25 | — | 1.05× | ||
| Q3 25 | 13.41× | 1.52× | ||
| Q2 25 | — | 2.09× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | 2.94× | 1.64× | ||
| Q2 24 | 4.94× | 1.28× | ||
| Q1 24 | — | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FOXF
| Specialty Sports Group | $132.7M | 35% |
| Powered Vehicles Group | $125.9M | 33% |
| Aftermarket Applications Group | $117.8M | 31% |
INDB
Segment breakdown not available.
