Acushnet vs Yeti
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The short version
- Acushnet is the larger business, with $2.6B of revenue in fiscal 2025 against $1.9B for Yeti.
- Acushnet grew revenue faster (4.1%, against 2.1%).
- Yeti turned more of its sales into free cash flow (11.4% FCF margin, against 4.7%).
- Yeti earned a higher return on the capital invested in it (32.1%, against 14.7%).
| Latest fiscal year | GOLF · FY25 | YETI · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.9B | $3.2B |
| Revenue | $2.6B | $1.9B |
| Free cash flow | $120M | $212M |
| Net income | $189M | $165M |
| Growth | ||
| Revenue growth | 4.1% | 2.1% |
| 5-year growth | 9.7% | 11.4% |
| Share count change | −4.8% | −4.9% |
| Profitability | ||
| Gross margin | 47.7% | 57.4% |
| Operating margin | 11.7% | 11.4% |
| Net margin | 7.4% | 8.9% |
| FCF margin | 4.7% | 11.4% |
| Return on capital | 14.7% | 32.1% |
| Return on equity | 24.4% | 23.8% |
| Balance sheet | ||
| Net debt | $901M | −$113M |
| Net debt / EBITDA | 2.5x | −0.4x |
| Dividends and buybacks | $268M | $298M |
| Valuation & quality | ||
| P/E | 22.1x | — |
| Piotroski F-score | 6 | 6 |
Revenue
FY16
GOLF $1.6B
YETI $819M
FY17
GOLF $1.6B
YETI $639M
FY18
GOLF $1.6B
YETI $779M
FY19
GOLF $1.7B
YETI $914M
FY20
GOLF $1.6B
YETI $1.1B
FY21
GOLF $2.1B
YETI $1.4B
FY22
GOLF $2.3B
YETI $1.6B
FY23
GOLF $2.4B
YETI $1.7B
FY24
GOLF $2.5B
YETI $1.8B
FY25
GOLF $2.6B
YETI $1.9B
GOLF
YETI
Operating margin
FY16
GOLF 9.1%
YETI 10.8%
FY17
GOLF 10.9%
YETI 10.0%
FY18
GOLF 10.6%
YETI 13.1%
FY19
GOLF 11.0%
YETI 9.8%
FY20
GOLF 9.0%
YETI 19.6%
FY21
GOLF 12.1%
YETI 19.5%
FY22
GOLF 12.4%
YETI 7.9%
FY23
GOLF 12.0%
YETI 13.6%
FY24
GOLF 12.4%
YETI 13.4%
FY25
GOLF 11.7%
YETI 11.4%
GOLF
YETI
Free cash flow
FY16
GOLF $85.1M
YETI −$6.7M
FY17
GOLF −$45.9M
YETI $106M
FY18
GOLF $131M
YETI $155M
FY19
GOLF $101M
YETI $54.8M
FY20
GOLF $240M
YETI $351M
FY21
GOLF $277M
YETI $90.4M
FY22
GOLF −$129M
YETI $55.0M
FY23
GOLF $296M
YETI $235M
FY24
GOLF $170M
YETI $220M
FY25
GOLF $120M
YETI $212M
GOLF
YETI
Return on capital
FY16
GOLF 10.4%
YETI —
FY17
GOLF 9.7%
YETI —
FY18
GOLF 9.3%
YETI 26.6%
FY19
GOLF 10.8%
YETI 21.3%
FY20
GOLF 10.2%
YETI 62.4%
FY21
GOLF 16.7%
YETI 87.4%
FY22
GOLF 17.1%
YETI 27.2%
FY23
GOLF 15.5%
YETI 44.5%
FY24
GOLF 16.1%
YETI 44.3%
FY25
GOLF 14.7%
YETI 32.1%
GOLF
YETI
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.