NYSE : GOLF
Acushnet Holdings Corp. — Financial statements
Consumer Discretionary · Leisure · United States
Last price 85.26 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 4.98B
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Financial statements
Acushnet Holdings Corp. (GOLF) reported revenue of 2.71B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.71B | 2.56B | 2.46B | 2.38B | 2.27B | 2.15B |
| Cost of Revenue | 1.42B | 1.34B | 1.27B | 1.26B | 1.22B | 1.03B |
| Gross Profit | 1.29B | 1.22B | 1.19B | 1.12B | 1.05B | 1.12B |
| Selling, General & Admin | 871.23M | 826.13M | 787.76M | 760.10M | 711.63M | 799.78M |
| Research & Development | 77.61M | 75.45M | 66.67M | 63.74M | 55.63M | 54.57M |
| Amortization of Goodwill & Intangibles | 9.38M | 11.90M | 14.02M | 14.22M | 7.88M | 7.87M |
| Operating Expenses | 958.23M | 913.48M | 868.46M | 838.06M | 775.15M | 862.22M |
| Operating Income | 328.14M | 307.77M | 319.26M | 281.98M | 273.54M | 256.21M |
| Interest Expense | -55.77M | -59.40M | -53.84M | -42.94M | -14.01M | -8.30M |
| Interest & Investment Income | 1.12M | 1.12M | 1.20M | 1.65M | 743.00K | 590.00K |
| Earnings From Equity Investments | -381.00K | -1.11M | ||||
| Other Non Operating Income (Expenses) | 1.17M | 924.00K | 1.04M | 910.00K | -835.00K | 1.42M |
| EBT Excluding Unusual Items | 274.27M | 249.30M | 267.67M | 241.60M | 259.44M | 249.92M |
| Merger & Restructuring Charges | -7.29M | -13.69M | -18.00M | -2.10M | ||
| Gain (Loss) on Sale of Investments | 20.89M | |||||
| Other Unusual Items | 27.53M | -16.97M | ||||
| Pretax Income | 294.52M | 239.53M | 249.67M | 241.60M | 259.44M | 247.82M |
| Income Tax Expense | 74.98M | 52.37M | 47.83M | 42.99M | 54.35M | 63.58M |
| Earnings From Continuing Operations | 219.54M | 187.16M | 201.84M | 198.61M | 205.08M | 184.24M |
| Minority Interest in Earnings | 320.00K | 1.39M | 12.46M | -178.00K | -5.81M | -5.37M |
| Net Income | 219.86M | 188.54M | 214.30M | 198.43M | 199.28M | 178.87M |
| Net Income to Common | 219.86M | 188.54M | 214.30M | 198.43M | 199.28M | 178.87M |
| Shares Outstanding (Basic) | 59.83M | 60.30M | 63.35M | 67.06M | 71.96M | 74.54M |
| Shares Outstanding (Diluted) | 60.10M | 60.57M | 63.65M | 67.52M | 72.56M | 75.27M |
| EPS (Basic) | 3.67 | 3.13 | 3.38 | 2.96 | 2.77 | 2.40 |
| EPS (Diluted) | 3.66 | 3.11 | 3.37 | 2.94 | 2.75 | 2.38 |
| Free Cash Flow | 183.74M | 120.03M | 170.48M | 296.46M | -129.15M | 276.52M |
| Free Cash Flow Per Share | 3.06 | 1.98 | 2.68 | 4.39 | -1.78 | 3.67 |
| Dividend Per Share | 0.98 | 0.94 | 0.86 | 0.78 | 0.72 | 0.66 |
| Gross Margin | 47.51% | 47.73% | 48.34% | 47.02% | 46.19% | 52.07% |
| Operating Margin | 12.12% | 12.03% | 12.99% | 11.84% | 12.05% | 11.93% |
| Profit Margin | 8.12% | 7.37% | 8.72% | 8.33% | 8.78% | 8.33% |
| Free Cash Flow Margin | 6.78% | 4.69% | 6.94% | 12.45% | -5.69% | 12.87% |
| EBITDA | 373.75M | 356.37M | 364.25M | 323.73M | 306.25M | 289.36M |
| EBITDA Margin | 13.80% | 13.93% | 14.82% | 13.59% | 13.49% | 13.47% |
| D&A For EBITDA | 45.61M | 48.59M | 44.99M | 41.76M | 32.71M | 33.14M |
| EBIT | 328.14M | 307.77M | 319.26M | 281.98M | 273.54M | 256.21M |
| EBIT Margin | 12.12% | 12.03% | 12.99% | 11.84% | 12.05% | 11.93% |
| Effective Tax Rate | 25.46% | 21.86% | 19.16% | 17.79% | 20.95% | 25.66% |
| Advertising Expenses | 254.40M | 242.30M | 231.40M | 211.90M | 216.40M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 66.64M | 48.69M | 51.46M | 63.73M | 57.10M | 279.78M |
| Trading Asset Securities | 4.00K | 452.00K | ||||
| Cash & Short-Term Investments | 66.64M | 48.69M | 51.46M | 64.19M | 57.10M | 279.78M |
| Accounts Receivable | 489.38M | 217.48M | 218.37M | 201.35M | 216.69M | 174.44M |
| Receivables | 489.38M | 217.48M | 218.37M | 201.35M | 216.69M | 174.44M |
| Inventory | 532.21M | 608.57M | 575.96M | 615.53M | 674.68M | 413.31M |
| Prepaid Expenses | 170.31M | 138.88M | 108.89M | 98.01M | 97.46M | 88.07M |
| Restricted Cash | 1.30M | 1.40M | 1.60M | 1.70M | 1.80M | 1.90M |
| Other Current Assets | 9.54M | 10.36M | 17.59M | 15.91M | 11.33M | 11.68M |
| Total Current Assets | 1.27B | 1.03B | 973.87M | 996.69M | 1.06B | 969.18M |
| Property, Plant & Equipment | 368.49M | 482.23M | 401.40M | 384.16M | 312.06M | 277.63M |
| Goodwill | 222.15M | 224.26M | 220.14M | 225.30M | 224.81M | 210.43M |
| Other Intangible Assets | 506.89M | 511.43M | 523.13M | 537.41M | 525.90M | 465.34M |
| Long-Term Deferred Tax Assets | 13.15M | 21.08M | 34.31M | 31.45M | 47.55M | 60.81M |
| Other Long-Term Assets | 182.71M | 78.33M | 27.36M | 21.66M | 24.41M | 22.44M |
| Total Assets | 2.58B | 2.34B | 2.18B | 2.20B | 2.19B | 2.01B |
| Accounts Payable | 195.61M | 156.98M | 150.32M | 150.51M | 167.00M | 163.61M |
| Accrued Expenses | 219.48M | 176.21M | 230.40M | 188.61M | 176.53M | 191.80M |
| Short-Term Debt | 22.90M | 16.00M | 10.16M | 29.00M | 40.34M | 116.00K |
| Current Portion of Long-Term Debt | 639.00K | 661.00K | 723.00K | 414.00K | 17.50M | |
| Current Portion of Leases | 24.99M | 20.11M | 19.57M | 15.19M | 12.20M | |
| Current Income Taxes Payable | 54.77M | 34.22M | 36.01M | 46.40M | 40.92M | 57.31M |
| Other Current Liabilities | 4.37M | 21.08M | 24.98M | 16.63M | 108.66M | 40.49M |
| Total Current Liabilities | 497.76M | 430.15M | 472.71M | 451.13M | 548.62M | 483.02M |
| Long-Term Debt | 936.52M | 925.36M | 751.82M | 670.40M | 526.31M | 296.26M |
| Long-Term Leases | 125.56M | 106.26M | 61.43M | 74.85M | 46.03M | 36.98M |
| Pension & Post-Retirement Benefits | 68.00M | 68.76M | 74.41M | 69.63M | 74.23M | 93.70M |
| Long-Term Deferred Tax Liabilities | 21.91M | 7.60M | 8.11M | 7.08M | 5.90M | 4.95M |
| Other Long-Term Liabilities | 19.23M | 14.57M | 10.70M | 9.35M | 7.36M | |
| Total Liabilities | 1.65B | 1.56B | 1.38B | 1.28B | 1.21B | 922.27M |
| Common Stock | 58.00K | 58.00K | 61.00K | 63.00K | 76.00K | 76.00K |
| Additional Paid-In Capital | 759.36M | 763.83M | 787.73M | 808.62M | 960.68M | 948.42M |
| Retained Earnings | 294.85M | 141.96M | 180.28M | 159.91M | 473.13M | 324.97M |
| Treasury Stock | -62.50M | -385.17M | -131.04M | |||
| Comprehensive Income & Other | -129.90M | -122.28M | -140.31M | -104.35M | -109.67M | -99.58M |
| Total Common Equity | 924.37M | 783.57M | 765.25M | 864.24M | 939.06M | 1.04B |
| Minority Interest | 1.94M | 1.77M | 31.92M | 48.64M | 44.31M | 40.72M |
| Shareholders' Equity | 926.31M | 785.34M | 797.16M | 912.87M | 983.37M | 1.08B |
| Total Liabilities & Equity | 2.58B | 2.34B | 2.18B | 2.20B | 2.19B | 2.01B |
| Total Debt | 1.09B | 1.07B | 844.24M | 794.24M | 627.86M | 363.05M |
| Net Cash (Debt) | -1.02B | -1.02B | -792.78M | -730.05M | -570.76M | -83.28M |
| Net Cash Per Share | -16.95 | -16.92 | -12.46 | -10.81 | -7.87 | -1.11 |
| Filing Date Shares Outstanding | 58.41M | 58.56M | 59.93M | 63.49M | 66.95M | 72.38M |
| Total Common Shares Outstanding | 58.38M | 58.37M | 60.28M | 63.43M | 67.43M | 72.54M |
| Working Capital | 771.62M | 595.22M | 501.17M | 545.56M | 510.45M | 486.15M |
| Book Value Per Share | 15.83 | 13.42 | 12.70 | 13.63 | 13.93 | 14.38 |
| Tangible Book Value | 195.33M | 47.88M | 21.98M | 101.53M | 188.34M | 367.07M |
| Tangible Book Value Per Share | 3.35 | 0.82 | 0.36 | 1.60 | 2.79 | 5.06 |
| Land | 14.38M | 14.27M | 14.33M | 14.24M | 14.62M | |
| Buildings | 238.86M | 223.74M | 194.59M | 169.85M | 155.33M | |
| Machinery | 368.70M | 334.94M | 298.04M | 265.20M | 239.55M | |
| Construction In Progress | 61.13M | 51.64M | 53.92M | 42.94M | 38.07M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 219.86M | 188.54M | 214.30M | 198.43M | 199.28M | 178.87M |
| Depreciation & Amortization | 45.61M | 48.59M | 44.99M | 41.76M | 32.71M | 33.14M |
| Other Amortization | 8.24M | 8.46M | 12.65M | 10.53M | 11.00M | 9.64M |
| Loss (Gain) From Sale of Assets | 163.00K | 725.00K | 902.00K | 99.00K | -3.29M | 156.00K |
| Loss (Gain) From Sale of Investments | -20.89M | |||||
| Loss (Gain) on Equity Investments | 381.00K | 1.11M | ||||
| Stock-Based Compensation | 32.10M | 28.58M | 30.79M | 29.71M | 24.08M | 27.64M |
| Other Operating Activities | 47.45M | 26.70M | -14.40M | 17.10M | 28.43M | 17.22M |
| Change in Accounts Receivable | -68.50M | 11.96M | -26.80M | 13.79M | -58.89M | 16.68M |
| Change in Inventory | -9.31M | -20.39M | 21.66M | 58.90M | -275.97M | -64.24M |
| Change in Accounts Payable | 17.68M | -1.67M | 1.88M | -12.11M | 8.84M | 48.78M |
| Change in Income Taxes | 9.38M | -5.09M | -8.22M | 6.22M | -11.43M | 20.34M |
| Change in Other Net Operating Assets | -32.84M | -72.27M | -32.64M | 7.41M | -22.54M | 25.89M |
| Operating Cash Flow | 270.21M | 194.37M | 245.11M | 371.83M | -67.79M | 314.12M |
| Capital Expenditures | -86.47M | -74.34M | -74.62M | -75.36M | -61.36M | -37.60M |
| Cash Acquisitions | -18.40M | |||||
| Sale (Purchase) of Intangibles | -25.23M | -65.00M | ||||
| Other Investing Activities | 646.00K | -887.00K | 4.54M | |||
| Investing Cash Flow | -85.82M | -74.34M | -74.62M | -101.49M | -140.22M | -37.60M |
| Short-Term Debt Issued | 3.36M | |||||
| Long-Term Debt Issued | 2.28B | 1.24B | 1.88B | 976.95M | ||
| Total Debt Issued | 2.17B | 2.28B | 1.24B | 1.88B | 980.32M | |
| Short-Term Debt Repaid | -2.70M | |||||
| Long-Term Debt Repaid | -2.12B | -1.18B | -1.74B | -729.10M | -17.50M | |
| Total Debt Repaid | -2.15B | -2.12B | -1.18B | -1.74B | -729.10M | -20.20M |
| Net Debt Issued (Repaid) | 19.75M | 165.75M | 64.32M | 138.59M | 251.21M | -20.20M |
| Repurchase of Common Stock | -132.99M | -223.08M | -189.71M | -345.58M | -199.77M | -69.44M |
| Common Dividends Paid | -58.30M | -56.16M | -54.29M | -52.48M | -52.24M | -49.17M |
| Dividends Paid | -58.30M | -56.16M | -54.29M | -52.48M | -52.24M | -49.17M |
| Other Financing Activities | -2.09M | -11.33M | -5.25M | -7.78M | -1.51M | |
| Financing Cash Flow | -173.64M | -124.82M | -179.68M | -264.73M | -8.58M | -140.33M |
| Foreign Exchange Rate Adjustments | -2.86M | 1.82M | -3.18M | 915.00K | -6.18M | -5.97M |
| Net Cash Flow | 7.89M | -2.97M | -12.38M | 6.53M | -222.77M | 130.22M |
| Free Cash Flow | 183.74M | 120.03M | 170.48M | 296.46M | -129.15M | 276.52M |
| Free Cash Flow Margin | 6.78% | 4.69% | 6.94% | 12.45% | -5.69% | 12.87% |
| Free Cash Flow Per Share | 3.06 | 1.98 | 2.68 | 4.39 | -1.78 | 3.67 |
| Levered Free Cash Flow | 45.25M | 59.03M | 229.36M | 109.31M | -169.04M | 280.57M |
| Unlevered Free Cash Flow | 78.56M | 94.40M | 261.25M | 135.22M | -162.29M | 284.22M |
| Cash Interest Paid | 60.21M | 60.21M | 53.45M | 36.39M | 11.63M | 6.89M |
| Cash Income Tax Paid | 37.18M | 37.18M | 49.44M | 33.62M | 56.41M | 28.92M |
| Change in Working Capital | -83.60M | -87.46M | -44.13M | 74.21M | -359.99M | 47.45M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.98B | 4.68B | 4.32B | 4.13B | 2.98B | 3.91B |
| Enterprise Value | 6.00B | 5.58B | 5.07B | 4.79B | 3.40B | 3.95B |
| Last Close Price | 85.26 | 79.15 | 69.60 | 61.07 | 40.44 | 49.73 |
| PE Ratio | 23.31 | 24.83 | 20.17 | 20.81 | 14.96 | 21.85 |
| Forward PE | 21.75 | 23.70 | 20.91 | 20.23 | 15.57 | 25.01 |
| PS Ratio | 1.84 | 1.83 | 1.76 | 1.73 | 1.31 | 1.82 |
| PB Ratio | 5.38 | 5.96 | 5.42 | 4.52 | 3.03 | 3.61 |
| P/TBV Ratio | 25.49 | 97.80 | 196.63 | 40.68 | 15.83 | 10.65 |
| P/FCF Ratio | 27.10 | 39.01 | 25.35 | 13.93 | 14.13 | |
| P/OCF Ratio | 18.43 | 24.09 | 17.63 | 11.11 | 12.44 | |
| PEG Ratio | 4.57 | 4.57 | 4.57 | 4.57 | 4.57 | |
| EV/Sales Ratio | 2.22 | 2.18 | 2.06 | 2.01 | 1.50 | 1.84 |
| EV/EBITDA Ratio | 16.05 | 15.66 | 13.93 | 14.81 | 11.09 | 13.64 |
| EV/EBIT Ratio | 18.28 | 18.13 | 15.89 | 17.00 | 12.41 | 15.40 |
| EV/FCF Ratio | 32.65 | 46.48 | 29.76 | 16.17 | 14.27 | |
| Debt / Equity Ratio | 1.17 | 1.37 | 1.06 | 0.87 | 0.64 | 0.34 |
| Debt / EBITDA Ratio | 2.68 | 2.77 | 2.15 | 2.26 | 1.93 | 1.18 |
| Debt / FCF Ratio | 5.91 | 8.94 | 4.95 | 2.68 | 1.31 | |
| Net Debt / Equity Ratio | 1.10 | 1.30 | 0.99 | 0.80 | 0.58 | 0.08 |
| Net Debt / EBITDA Ratio | 2.73 | 2.88 | 2.18 | 2.25 | 1.86 | 0.29 |
| Net Debt / FCF Ratio | 5.55 | 8.54 | 4.65 | 2.46 | -4.42 | 0.30 |
| Asset Turnover | 1.09 | 1.13 | 1.12 | 1.08 | 1.08 | 1.11 |
| Inventory Turnover | 2.67 | 2.26 | 2.13 | 1.96 | 2.25 | 2.67 |
| Quick Ratio | 1.12 | 0.62 | 0.57 | 0.59 | 0.50 | 0.94 |
| Current Ratio | 2.55 | 2.38 | 2.06 | 2.21 | 1.93 | 2.01 |
| Return on Equity (ROE) | 25.24% | 23.65% | 23.61% | 20.95% | 19.84% | 17.54% |
| Return on Assets (ROA) | 8.25% | 8.51% | 9.12% | 8.03% | 8.14% | 8.27% |
| Return on Invested Capital (ROIC) | 12.25% | 14.15% | 15.97% | 14.50% | 15.89% | 15.71% |
| Return on Capital Employed (ROCE) | 15.80% | 16.10% | 18.70% | 16.20% | 16.60% | 16.80% |
| Earnings Yield | 4.29% | 4.03% | 4.96% | 4.81% | 6.69% | 4.58% |
| FCF Yield | 3.69% | 2.56% | 3.94% | 7.18% | -4.33% | 7.07% |
| Dividend Yield | 1.20% | 1.17% | 1.20% | 1.20% | 1.63% | 1.23% |
| Payout Ratio | 27.88% | 29.78% | 25.33% | 26.45% | 26.21% | 27.49% |
| Buyback Yield / Dilution | 2.81% | 4.84% | 5.73% | 6.95% | 3.59% | -0.27% |
| Total Shareholder Return | 4.01% | 6.01% | 6.93% | 8.15% | 5.22% | 0.95% |