Acushnet Holdings (GOLF) AI Stock Analysis

• Market Cap: $6.00B
• Dividend Yield: 1.15%
• Average Volume (3M): 308.17K
• Price to Earnings (P/E): 32.9
• Beta (1Y): 0.81
• Revenue Growth: 4.20%
• EPS Growth: 24.12%
• Country: US
• Employees: 7,300
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Leisure
• EPS (TTM): -0.58
• Shares Outstanding: 58,661,327
• 10 Day Avg. Volume: 318,707
• 30 Day Avg. Volume: 308,171
• PEG Ratio: -3.29
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 0.00120
• P/FCF Ratio: 0.04
• Enterprise Value/Market Cap: 149.73
• Enterprise Value/Revenue: 0.23
• Enterprise Value/Gross Profit: 0.47
• Enterprise Value/Ebitda: 1.92
• 1Y Price Target: $102.00
• Price Target Upside: -0.32% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 6
• EPS Forecast (FY): 3.71
• Revenue Forecast (FY): $2.63B

• Rating: 63 Neutral
• Price Target: $110.00 ▲(7.50% Upside)
• Action: Downgraded Date: 02/27/26
• Date: Action: Downgraded 02/27/26

The score reflects solid but somewhat risk-tinged fundamentals (rising leverage, cash-flow volatility, and questionable 2025 comparability) offset by strong technical uptrend and generally constructive guidance. Valuation is the main drag, with a higher P/E and low dividend yield, while tariffs and near-term margin/FCF pressures cap upside.

Positive Factors

Brand & Product Strength

Acushnet’s flagship Titleist franchise shows durable demand and product momentum: equipment growth (6%) and Pro V1 ball gains reflect strong brand equity, new launch cadence, and continued relevance with core golfers. This sustains pricing power and repeat purchase cycles over years.

Stable Profitability Margins

Historical margin consistency across gross, EBITDA and net margins indicates resilient cost structure and pricing, supporting predictable earnings capacity. Stable margins help absorb cyclical swings in volumes and fund reinvestment, making earnings quality more durable across cycles.

Proactive Capital & Balance‑Sheet Management

Management has demonstrated disciplined capital allocation and liability management—refinancing maturities, extending revolver, sustained dividends and buybacks—supporting liquidity and investor returns while targeting leverage within policy. This preserves financing optionality for growth/cycles.

Negative Factors

Rising Leverage

Leverage has increased meaningfully, compressing financial flexibility and increasing sensitivity to demand shocks or interest costs. Higher debt amplifies downside risk to cash flow coverage and limits capacity for opportunistic investment or additional shareholder returns during weaker periods.

Free Cash Flow Volatility

FCF has been uneven—a sharp drop in 2025 and prior negative year—driven by inventory builds, ERP costs and tariffs. This volatility undermines the predictability of internal funding for capex, dividends and buybacks, increasing reliance on debt markets if adverse trends persist.

Tariff & Margin Headwinds

Sizable tariff exposure has already compressed gross margins and management assumes materially higher costs in 2026 absent clarity. Persistent or escalating trade/ tariff pressures create structural cost risk that can erode margin sustainability and force either price increases or margin contraction.

Acushnet Holdings Business Overview & Revenue Model

Company Description

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. It offers golf balls under the Titleist brand; golf clubs, such as drivers, fairways, hybrids, and irons under the Titleist brand name; wedges under the Vokey Design brand; and putters under the Scotty Cameron brand. The company also provides golf bags, headwear, golf gloves, travel products, head covers, and other golf accessories, as well as offers customization and personalization of products in Titleist golf gear. In addition, it offers golf shoes, gloves, golf outerwear, and men's and women's golf apparels under the FootJoy brand; and ski, golf, and lifestyle apparels under the KJUS brand name. It sells its products through on-course golf shops and golf specialty retailers, as well as through representatives, other retailers, and online. The company was formerly known as Alexandria Holdings Corp. and changed its name to Acushnet Holdings Corp. in March 2016. Acushnet Holdings Corp. was founded in 1910 and is headquartered in Fairhaven, Massachusetts.

How the Company Makes Money

Acushnet generates revenue primarily through the sale of its golf equipment and apparel. The core revenue streams include the sale of Titleist golf balls, which are known for their performance and quality, as well as Titleist golf clubs and FootJoy golf footwear and apparel. The company leverages its strong brand equity and loyal customer base to drive sales, with a focus on innovation in product development. Strategic partnerships with professional golfers and sponsorships enhance brand visibility and credibility, further contributing to sales. Additionally, Acushnet benefits from a diversified distribution network, including pro shops, sporting goods retailers, and e-commerce platforms, allowing the company to reach a wide range of customers in various markets.

Acushnet Holdings Financial Statement Overview

Summary

Income statement quality is solid (historically steady gross/EBITDA margins and consistent net margins), and cash generation is generally positive with reasonable FCF-to-net-income conversion. Offsetting this, leverage has risen over time (debt-to-equity up materially), cash flow has shown volatility (notably weak 2022), and the 2025 annual figures appear inconsistent versus prior scale/margins, adding uncertainty.

Income Statement

Profitability is solid and fairly consistent: gross margin has held around ~48%–53% and EBITDA margin around ~11%–15% from 2020–2024, with net margin generally in the ~6%–9% range. Revenue grew steadily from 2021–2024 (low-to-mid single digits), supporting stable earnings power. Key weakness is the 2025 annual datapoint showing unusually extreme revenue growth and a much lower net margin (~4.7%) with an EBIT margin listed as 0%, which raises data quality and/or one-time pressure concerns versus the prior trend.

Balance Sheet

Leverage has risen meaningfully over time: debt-to-equity increased from ~0.30 (2021) to ~1.00 (2024) and ~1.20 (2025), reducing financial flexibility. Positively, returns on equity are strong across the period (roughly ~17%–28%), indicating good profitability relative to the equity base. The main risk is the upward leverage trajectory, which can amplify downside if demand softens.

Cash Flow

Cash generation is generally healthy, with positive operating cash flow and free cash flow in most years (2020, 2021, 2023–2025). Free cash flow has typically covered a meaningful portion of net income (about ~0.62–0.91 in years where both are positive), which supports quality of earnings. The key drawback is volatility: 2022 showed negative operating cash flow and negative free cash flow, and free cash flow growth has swung sharply (notably down in 2024 after a very strong 2023 rebound).

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.98T	2.46B	2.38B	2.27B	2.15B
Gross Profit	1.91T	1.19B	1.25B	1.18B	1.12B
EBITDA	596.15B	360.27M	336.59M	315.15M	295.80M
Net Income	188.54M	214.30M	198.43M	199.28M	178.87M
Balance Sheet
Total Assets	2.34T	2.18B	2.20B	2.19B	2.01B
Cash, Cash Equivalents and Short-Term Investments	50.09B	53.06M	65.44M	58.90M	281.68M
Total Debt	942.91B	763.96M	701.17M	567.85M	314.97M
Total Liabilities	1.56T	1.38B	1.28B	1.21B	922.27M
Stockholders Equity	783.57B	765.25M	864.24M	939.06M	1.04B
Cash Flow
Free Cash Flow	120.03B	170.48M	271.23M	-194.15M	276.52M
Operating Cash Flow	194.37B	245.11M	371.83M	-67.79M	314.12M
Investing Cash Flow	-74.34B	-74.62M	-101.49M	-140.22M	-37.60M
Financing Cash Flow	-124.82B	-179.68M	-264.73M	-8.58M	-140.33M

Acushnet Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 102.33
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GOLF, the sentiment is Positive. The current price of 102.33 is above the 20-day moving average (MA) of 100.16, above the 50-day MA of 92.30, and above the 200-day MA of 80.72, indicating a bullish trend. The MACD of 2.37 indicates Positive momentum. The RSI at 66.02 is Neutral, neither overbought nor oversold. The STOCH value of 55.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GOLF.

Acushnet Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JOUT	69 Neutral	$501.55M	-21.98	-7.78%	3.22%	-0.07%	-31.45%
GOLF	63 Neutral	$6.00B	32.90	25.91%	1.15%	4.20%	24.12%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
NWTG	48 Neutral	$7.79M	-0.06	-383.63%	―	178.32%	70.79%

Acushnet Holdings Corporate Events

Acushnet Forms Vietnam Footwear Joint Venture with Myre

On January 6, 2026, Acushnet Cayman Limited, a wholly owned subsidiary of Acushnet Holdings Corp., entered into a Subscription and Shareholders’ Agreement with Myre Overseas Corp. to form ACL FootJoy Pte. Ltd., a joint venture focused on sourcing raw materials and contracting for the manufacture and production of Acushnet-branded footwear in Vietnam at factories owned or controlled by Myre and its affiliates. Under the agreement, Myre holds 60% and Acushnet Cayman 40% of ACL FootJoy’s ordinary shares, but Acushnet Cayman secures sole and exclusive rights to purchase, distribute, and arrange worldwide sale of all footwear produced at the partner factories, and gains significant governance influence through equal board representation, an Acushnet-appointed chair with a casting vote, and protective approval rights over business plans, budgets, organizational changes, and share transfers. This structure, alongside their long-standing China footwear joint venture dating back to June 1, 1995, underscores Acushnet’s strategy of tightening control over its Asian manufacturing base while ensuring stable, exclusive global supply for its branded footwear portfolio.

The most recent analyst rating on (GOLF) stock is a Sell with a $74.00 price target. To see the full list of analyst forecasts on Acushnet Holdings stock, see the GOLF Stock Forecast page.