Acushnet Holdings (GOLF)
NYSE:GOLF
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Acushnet Holdings
(NYSE:GOLF)
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Rating:63Neutral
Price Target:
$97.00
▼(-1.49% Downside)
Action:DowngradedDate: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 Momentum
Titleist's recurring product cadence and recent launches (balls, T-Series irons, new drivers) drive durable demand and selling-season relevance across markets. Strong equipment momentum supports sustained revenue and pricing power via pro-tour visibility and replacement cycles over the next several quarters.
Negative Factors
Rising Leverage
Material increase in leverage reduces financial flexibility and increases interest exposure, limiting capacity to invest or absorb shocks. Even with refinancing and a 2.25x target, the upward debt trajectory amplifies downside risk if demand weakens or margins compress over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand & Product Momentum
Titleist's recurring product cadence and recent launches (balls, T-Series irons, new drivers) drive durable demand and selling-season relevance across markets. Strong equipment momentum supports sustained revenue and pricing power via pro-tour visibility and replacement cycles over the next several quarters.
Read all positive factors
Acushnet Holdings (GOLF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.77B
Dividend Yield1.15%
Average Volume (3M)355.65K
Price to Earnings (P/E)25.3
Beta (1Y)0.82
Revenue Growth4.20%
EPS Growth24.12%
CountryUS
Employees7,300
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-0.58
Shares Outstanding58,560,356
10 Day Avg. Volume422,184
30 Day Avg. Volume355,654
Financial Highlights & Ratios
PEG Ratio-3.29
Price to Book (P/B)6.10
Price to Sales (P/S)1.87
P/FCF Ratio39.81
Enterprise Value/Market Cap1.18
Enterprise Value/Revenue0.01
Enterprise Value/Gross Profit0.03
Enterprise Value/Ebitda0.10
Forecast
1Y Price Target
$102.00Price Target Upside3.58% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)3.69
Revenue Forecast (FY)$2.64B
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, Title...
How the Company Makes Money
Acushnet makes money primarily by selling golf-related products across several major categories and brands. Its largest revenue stream is typically golf balls (primarily under the Titleist brand), generated through high-volume sales to retailers, ...
Acushnet Holdings Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call highlighted solid top-line growth (FY net sales +4%, Q4 +7%) driven by strong Titleist equipment and multiple product launches, healthy shareholder returns (dividends increased and buybacks), and an optimistic 2026 outlook with modest sales and EBITDA growth guidance. However, material headwinds from tariffs (≈$30M in 2025; $70M assumed for 2026), a Q4 EBITDA decline, reduced free cash flow, higher SG&A and one-time financing costs, and softness in gear/wearables in select international markets temper near-term margin and cash-flow visibility. Management remains constructive—investing in capacity, launching products earlier, and maintaining balance sheet discipline—leading to a generally positive posture but with clear, notable risks to margins and cash flow in the short term.Positive Updates
Full-Year Revenue and EBITDA Growth
Net sales of $2.56 billion for FY2025, up 4% year-over-year, and adjusted EBITDA of $410 million, up 1.5% year-over-year, reflecting overall revenue growth and underlying profitability expansion for the year.
Negative Updates
Tariff Headwinds Impacting Margins and Costs
Incremental tariff costs of approximately $30 million in 2025 (Q4 was the largest quarterly impact at ~$15M) pressured gross margin (down 60 basis points to 47.7%); management assumes ~ $70 million of tariff costs for 2026 while awaiting regulatory clarity, with ~$40M incremental IEPA exposure called out.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and EBITDA Growth
Net sales of $2.56 billion for FY2025, up 4% year-over-year, and adjusted EBITDA of $410 million, up 1.5% year-over-year, reflecting overall revenue growth and underlying profitability expansion for the year.
Read all positive updates
Company Guidance
Acushnet guided 2026 full‑year net sales of $2.625–$2.675 billion (constant‑currency growth of ~2.5%–4.5%), adjusted EBITDA of $415–$435 million (midpoint implying ~16% margin, flat vs. 2025) while assuming roughly $70 million of tariffs (including about $40 million incremental IEPA exposure); management expects first‑half net sales and adjusted EBITDA to rise mid‑ to high‑single digits (Q1 net sales up low‑single digits) with growth weighted to Q2, capital expenditures of about $95 million (plus ~$25 million of capitalized ERP costs and ~$6 million of incremental ERP operating expense), a target net leverage at or below 2.25x (ended 2025 at 2.2x), an improvement in free cash flow versus the $120 million generated in 2025, and continued dividends and opportunistic buybacks (≈$241 million remaining authorization).Acushnet Holdings Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
55
Neutral
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.56B | 2.46B | 2.38B | 2.27B | 2.15B |
| Gross Profit | 1.21B | 1.19B | 1.25B | 1.18B | 1.12B |
| EBITDA | 142.80B | 360.27M | 336.59M | 315.15M | 295.80M |
| Net Income | 188.54M | 214.30M | 198.43M | 199.28M | 178.87M |
Balance Sheet | |||||
| Total Assets | 2.34B | 2.18B | 2.20B | 2.19B | 2.01B |
| Cash, Cash Equivalents and Short-Term Investments | 50.09M | 53.06M | 65.44M | 58.90M | 281.68M |
| Total Debt | 1.07B | 763.96M | 701.17M | 567.85M | 314.97M |
| Total Liabilities | 1.56B | 1.38B | 1.28B | 1.21B | 922.27M |
| Stockholders Equity | 783.57M | 765.25M | 864.24M | 939.06M | 1.04B |
Cash Flow | |||||
| Free Cash Flow | 120.03M | 170.48M | 271.23M | -194.15M | 276.52M |
| Operating Cash Flow | 194.37M | 245.11M | 371.83M | -67.79M | 314.12M |
| Investing Cash Flow | -74.34M | -74.62M | -101.49M | -140.22M | -37.60M |
| Financing Cash Flow | -124.82M | -179.68M | -264.73M | -8.58M | -140.33M |
Acushnet Holdings Technical Analysis
Positive
98.47
Price Trends
96.79
Positive
90.56
Positive
84.00
Positive
Market Momentum
-0.23
Negative
61.18
Neutral
86.70
Negative
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 98.47 is above the 20-day moving average (MA) of 93.36, above the 50-day MA of 96.79, and above the 200-day MA of 84.00, indicating a bullish trend. The MACD of -0.23 indicates Negative momentum. The RSI at 61.18 is Neutral, neither overbought nor oversold. The STOCH value of 86.70 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GOLF.
Acushnet Holdings Risk Analysis
Acushnet Holdings disclosed 64 risk factors in its most recent earnings report. Acushnet Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Acushnet Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $512.21M | -33.91 | -5.18% | 3.22% | -0.07% | -31.45% | |
63 Neutral | $5.77B | 25.34 | 23.39% | 1.15% | 4.20% | 24.12% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
45 Neutral | $7.12M | ― | -566.85% | ― | 178.32% | 70.79% |
* Consumer Cyclical Sector Average
GOLF
Acushnet Holdings
98.47
38.33
63.73%
JOUT
Johnson Outdoors
49.52
27.84
128.40%
NWTG
Newton Golf Company
1.55
-0.42
-21.32%
Acushnet Holdings Corporate Events
Business Operations and Strategy
Acushnet Forms Vietnam Footwear Joint Venture with Myre
Positive
Jan 8, 2026
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 sou...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.