Depends on the factory as some do a much better job than others and some are hit & miss. I usually refine the edge by stropping at the very least and some involve more substantial work. Sometimes I might want to thin out the edge, convex it, or just polish it up a bit and sometimes the edge out of the box is just plain jacked up.
I have found Fallkniven and Bark River have consistently provided well sharpened (and convex) knives right out of the box. Murray Carter knives, as you would expect, are sharp. Most Spydercos I see are sharp and the only one not being sharp out of the box in recent memory was a Sprint Orange Dodo. Victorinox does a consistently good job too. Some others I would like to say do a good job also are Al Mar, Mcusta and Chris Reeve but I just haven't sampled enough of those to say. In my experience Benchmade, Kershaw/ZT, Buck, ESEE, Kabar, Ontario, Condor, Cold Steel, CRKT, Boker, SOG and Gerber have been in the hit and miss category and that is being generous for some of those. One might expect that the higher priced the knife the more likely it will be sharp out of the box, but I haven't found that to be true. I have a couple of $15 Svord knives that came sharper than some that cost many times that.