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Acushnet

GOLF NYSE Leisure Products Financials FY2016–FY2025

Acushnet's revenue rose 4.1% to $2.6 billion in fiscal 2025. Its operating margin was 11.7%, down from 12.4% a year earlier. Free cash flow was $120 million, down 29.6%. It paid out $268 million in dividends and buybacks, 223% of free cash flow. The diluted share count fell 4.8%.

Last close · Oct 23, 2026

$81.31

0.8%
Value it Compare
Revenue Total sales reported in the income statement.
$2.6B
4.1% vs prior year
Operating margin Operating income as a share of revenue.
11.7%
0.7 pts
Net income Profit after all expenses, interest and tax.
$189M
12.0%
Free cash flow Cash from operations minus capital spending.
$120M
29.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
14.7%
1.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$4.9B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
22.1x
On $3.68 EPS (TTM)

What Acushnet does

No business description yet.

Legal name
Acushnet Holdings Corp.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001672013-26-000057
0001672013

Revenue and margins

Acushnet had $2.6B of revenue in fiscal 2025, up 4.1% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 19.6% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $120M in fiscal 2025, 4.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Acushnet returned $268M to shareholders in fiscal 2025, 223% of free cash flow. The diluted share count fell 4.8%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Acushnet yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$901M and divides by 60.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 22.1x · peers 21.1x · sector 17.7x.

Balance sheet

Cash, debt and the ratios that show how comfortably Acushnet can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $282M$58.9M$65.4M$53.1M$50.1M
Debt incl. finance leases $317M$568M$708M$770M$951M
Net debt / EBITDA 0.1x1.6x1.9x2.0x2.5x
Debt / equity 0.3x0.6x0.8x1.0x1.2x
Interest coverage 37.7x24.2x7.8x5.7x5.0x
Current ratio 2.0x1.9x2.2x2.1x2.4x
Quick ratio 1.2x0.7x0.8x0.8x1.0x
Total assets $2.0B$2.2B$2.2B$2.2B$2.3B
Total liabilities $922M$1.2B$1.3B$1.4B$1.6B
Shareholders' equity $1.0B$939M$864M$765M$784M
Net debt (− = net cash) $34.8M$509M$642M$716M$901M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$9.2M

6 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Jun 11, 2026 Nicholas N MohamedPrincipal Accounting Officer Sold 529 $95.00 $0.1M Form 4
May 27, 2026 Steven Francis PelisekPresident-Titleist Golf Clubs Sold 15,000 $91.26 $1.4M Form 4
Mar 9, 2026 Brendan J. ReidySee Remarks Sold 9,489 $92.67 $0.9M Form 4
Mar 4, 2026 Gregory A. HewettDirector Sold 4,206 $100.00 $0.4M Form 4
Mar 4, 2026 Nicholas N MohamedPrincipal Accounting Officer Sold 952 $99.00 $0.1M Form 4
Dec 15, 2025 Christopher Aaron LindnerPresident - FootJoy Sold 6,500 $85.00 $0.6M Form 4
Nov 25, 2025 Steven Francis PelisekPresident-Titleist Golf Clubs Sold 20,000 $84.66 $1.7M Form 4
Nov 14, 2025 David Eugene MaherPresident and CEO, Director Sold 26,939 $79.32 $2.1M Form 4
Nov 13, 2025 David Eugene MaherPresident and CEO, Director Sold 24,521 $79.77 $2.0M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✕ ✕
Current ratio rose ✓ ✕ ✓
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✕ ✓ ✓
F-score 6 / 97 / 96 / 9
Accruals ratio −7.9%−1.4%−0.3%
Altman Z'' 3.483.323.25

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Acushnet GOLF $4.9B 4.1% 11.7% 4.7% 14.7% 22.1x 6
Peloton Interactive PTON $2.3B −1.8% 6.6% 15.4% — — 8 Compare →
Callaway Golf CALY $2.7B −0.9% 6.2% 14.7% 2.1% — 5 Compare →
Yeti YETI $3.2B 2.1% 11.4% 11.4% 32.1% — 6 Compare →
Mattel MAT $4.7B −0.6% 10.2% 9.0% 13.5% 12.1x 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.6B $1.6B $1.6B $1.7B $1.6B $2.1B $2.3B $2.4B $2.5B $2.6B
Gross profit $799M $802M $842M $872M $830M $1.1B $1.0B $1.1B $1.2B $1.2B
Research and development $48.1M $47.2M $51.5M $51.6M $48.9M $55.3M $56.4M $64.8M $67.8M $76.5M
Operating income $143M $170M $172M $186M $146M $260M $282M $285M $304M $299M
Interest expense $49.9M $15.5M $18.3M $0.4M $15.0M $6.9M $11.6M $36.4M $53.4M $60.2M
Pretax income $165M $152M $150M $165M $113M $248M $259M $242M $250M $240M
Income tax $39.7M $48.5M $47.2M $40.6M $13.0M $63.6M $54.4M $43.0M $47.8M $52.4M
Net income $45.0M $98.7M $99.9M $121M $96.0M $179M $199M $198M $214M $189M
Diluted EPS $0.62 $1.32 $1.32 $1.60 $1.28 $2.38 $2.75 $2.94 $3.37 $3.11
Diluted shares 0.06B 0.07B 0.08B 0.08B 0.08B 0.08B 0.07B 0.07B 0.06B 0.06B
Cash flow
Cash from operations $104M −$27.0M $164M $134M $264M $314M −$67.8M $372M $245M $194M
Capital expenditure $19.2M $18.8M $32.8M $33.0M $24.7M $37.6M $61.4M $75.4M $74.6M $74.3M
Free cash flow $85.1M −$45.9M $131M $101M $240M $277M −$129M $296M $170M $120M
Depreciation and amortization $40.8M $40.9M $40.5M $43.0M $45.4M $41.2M $41.7M $51.4M $55.9M $55.3M
Stock-based compensation $14.5M $15.3M $18.6M $11.0M $16.0M $27.6M $24.1M $29.7M $30.8M $28.6M
Acquisitions $0.0M $0.0M $16.9M $28.1M $0.0M $0.0M $18.4M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $29.4M $7.0M $65.5M $189M $334M $173M $212M
Dividends paid $0.0M $35.7M $39.1M $43.5M $46.1M $49.2M $52.2M $52.5M $54.3M $56.2M
Dividends and buybacks $0.0M $35.7M $39.1M $72.8M $53.0M $115M $241M $387M $227M $268M
Balance sheet
Cash and short-term investments $76.1M $47.7M $31.0M $34.2M $152M $282M $58.9M $65.4M $53.1M $50.1M
Total debt $413M $467M $386M $404M $335M $315M $567M $706M $768M $949M
Finance lease liabilities $0.0M $0.0M $0.0M $0.3M $0.6M $1.4M $1.6M $2.0M $1.9M $1.4M
Current assets $665M $687M $664M $743M $800M $969M $1.1B $997M $974M $1.0B
Current liabilities $462M $307M $295M $359M $358M $483M $549M $451M $473M $430M
Inventory $323M $364M $361M $398M $358M $413M $675M $616M $576M $609M
Property and equipment, net $240M $229M $228M $232M $223M $232M $255M $295M $326M $357M
Total assets $1.7B $1.7B $1.7B $1.8B $1.9B $2.0B $2.2B $2.2B $2.2B $2.3B
Total liabilities $967M $880M $765M $865M $849M $922M $1.2B $1.3B $1.4B $1.6B
Shareholders' equity $736M $821M $895M $918M $984M $1.0B $939M $864M $765M $784M
Margins
Gross margin 50.8% 51.4% 51.6% 51.9% 51.5% 52.1% 46.2% 47.0% 48.3% 47.7%
Operating margin 9.1% 10.9% 10.6% 11.0% 9.0% 12.1% 12.4% 12.0% 12.4% 11.7%
EBITDA margin 11.7% 13.5% 13.0% 13.6% 11.8% 14.0% 14.2% 14.1% 14.7% 13.9%
Net margin 2.9% 6.3% 6.1% 7.2% 6.0% 8.3% 8.8% 8.3% 8.7% 7.4%
FCF margin 5.4% −2.9% 8.0% 6.0% 14.9% 12.9% −5.7% 12.5% 6.9% 4.7%
Returns
Return on capital 10.4% 9.7% 9.3% 10.8% 10.2% 16.7% 17.1% 15.5% 16.1% 14.7%
Return on capital employed 12.5% 12.6% 12.2% 13.0% 9.8% 17.1% 17.8% 16.8% 17.6% 16.5%
Return on equity 10.1% 12.7% 11.6% 13.4% 10.1% 17.7% 20.1% 22.0% 26.3% 24.4%
Return on assets 2.6% 5.7% 5.8% 6.9% 5.2% 9.2% 9.5% 9.0% 9.8% 8.3%
Growth
Revenue growth 4.6% −0.8% 4.7% 2.9% −4.1% 33.2% 5.7% 4.9% 3.2% 4.1%
Net income growth — 119.3% 1.2% 21.2% −20.7% 86.3% 11.4% −0.4% 8.0% −12.0%
EPS growth — 112.9% 0.0% 21.2% −20.0% 85.9% 15.6% 6.9% 14.6% −7.7%
FCF growth 24.0% −153.9% — −22.6% 136.6% 15.3% −146.7% — −42.5% −29.6%
Share count change 222.6% 16.0% 1.2% 0.4% −0.9% 0.3% −3.6% −7.0% −5.7% −4.8%
Financial health
Net debt / EBITDA 1.8x 2.0x 1.7x 1.6x 1.0x 0.1x 1.6x 1.9x 2.0x 2.5x
Debt / equity 0.6x 0.6x 0.4x 0.4x 0.3x 0.3x 0.6x 0.8x 1.0x 1.2x
Interest coverage 2.9x 11.0x 9.4x 464.1x 9.7x 37.7x 24.2x 7.8x 5.7x 5.0x
Current ratio 1.4x 2.2x 2.3x 2.1x 2.2x 2.0x 1.9x 2.2x 2.1x 2.4x
Quick ratio 0.7x 1.1x 1.0x 1.0x 1.2x 1.2x 0.7x 0.8x 0.8x 1.0x
Capital allocation
Capex / revenue 1.2% 1.2% 2.0% 2.0% 1.5% 1.8% 2.7% 3.2% 3.0% 2.9%
Stock comp / revenue 0.9% 1.0% 1.1% 0.7% 1.0% 1.3% 1.1% 1.3% 1.3% 1.1%
Payouts / FCF 0.0% — 29.8% 71.9% 22.1% 41.5% — 130.4% 133.2% 223.0%
Quality scores
Piotroski F-score — 5.0 8.0 6.0 6.0 7.0 3.0 6.0 7.0 6.0
Altman Z'' 2.1 3.1 3.5 3.5 3.7 4.2 3.9 3.5 3.3 3.3
Accruals ratio −3.4% 7.3% −3.7% −0.8% −9.1% −7.0% 12.7% −7.9% −1.4% −0.3%

Source: SEC EDGAR XBRL filings (CIK 0001672013). Data updated October 12, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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