Acushnet Holdings (GOLF) AI Stock Analysis

• Market Cap: $5.87B
• Dividend Yield: 1.15%
• Average Volume (3M): 319.67K
• Price to Earnings (P/E): 27.4
• Beta (1Y): 0.82
• 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: 319,530
• 30 Day Avg. Volume: 319,674
• PEG Ratio: 1.48
• Price to Book (P/B): 5.88
• Price to Sales (P/S): 1.83
• P/FCF Ratio: 26.41
• Enterprise Value/Market Cap: 1.13
• Enterprise Value/Revenue: 2.63
• Enterprise Value/Gross Profit: 5.98
• Enterprise Value/Ebitda: 17.24
• 1Y Price Target: $96.50
• Price Target Upside: -3.01% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 5
• EPS Forecast (FY): 3.7
• Revenue Forecast (FY): $2.60B

• Rating: 70 Outperform
• Price Target: $108.00 ▲(8.55% Upside)
• Action: Reiterated Date: 01/09/26
• Date: Action: Reiterated 01/09/26

The score is driven primarily by solid but mixed financial performance: stable sales and improving free cash flow are offset by margin compression, higher leverage, and weaker ROE. Technicals add support with an uptrend and healthy momentum, while valuation is a mild headwind due to a higher P/E and modest yield. Earnings call commentary is constructive on growth and guidance, with tariff-related margin pressure and Japan weakness as notable risks; the Vietnam JV is an incremental positive.

Positive Factors

Strong Brand Leadership

Titleist and FootJoy provide durable competitive advantages via brand equity, pro endorsements, and product premiumization. This supports pricing power, repeat purchases, and channel leverage across pro shops and retailers, underpinning steady demand and long-term unit economics.

Diversified Revenue & Distribution

Multiple product lines and a diversified distribution footprint (pro shops, sporting goods, ecommerce) reduce single-channel risk and smooth demand cyclicality. This structural mix helps sustain revenue through regional or category downturns and supports consistent cash generation.

Improving Free Cash Flow Generation

Material free cash flow growth strengthens the firm’s ability to fund capex, service debt, and invest in product innovation. Sustainable FCF improvement enhances financial flexibility and reduces reliance on external funding for strategic initiatives over the coming years.

Negative Factors

Tariff-Related Margin Pressure

Ongoing tariff costs are a structural headwind compressing gross margins and pressuring operating profitability. If tariffs persist or escalate, Acushnet faces sustained cost pressure absent successful price pass-through, margin recovery, or durable sourcing shifts to lower-cost regions.

Elevated Leverage from Recent Financing

Higher debt and recent $500M note issuance increase interest burden and reduce financial flexibility. Elevated leverage constrains capital allocation, heightens refinancing risk if rates rise, and makes the company more sensitive to profit or cash-flow volatility over the medium term.

Regional Demand Weakness (Japan)

Significant softness in Japan, especially footwear and apparel, highlights regional demand concentration risk. Persistent underperformance in a major market can erode segment revenue and margins, requiring either localized product/marketing fixes or longer recovery horizons for growth.

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

Stable revenue growth and solid gross margins, plus positive free cash flow growth. However, profitability has weakened (lower net margin, declining EBIT/EBITDA margins), leverage has increased, and ROE has dropped, which tempers the financial strength.

Income Statement

The income statement shows a stable revenue growth with a TTM increase of 1.49% and consistent gross profit margins around 48-52%. However, the net profit margin has significantly decreased in the TTM period, indicating potential cost pressures or inefficiencies. EBIT and EBITDA margins have also seen a decline, suggesting a need for operational improvements.

Balance Sheet

The balance sheet reflects a moderate debt-to-equity ratio of 1.06 in the TTM, indicating a balanced approach to leveraging. However, the increase in debt over recent periods could pose a risk if not managed carefully. Return on equity has significantly dropped in the TTM, highlighting a need for better asset utilization or profitability improvements.

Cash Flow

Cash flow analysis reveals a positive free cash flow growth of 13.62% in the TTM, which is a strong indicator of cash generation capabilities. However, the operating cash flow to net income ratio is relatively low, suggesting potential challenges in converting earnings into cash. The free cash flow to net income ratio remains healthy, indicating good cash flow management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.53B	2.46B	2.38B	2.27B	2.15B	1.61B
Gross Profit	1.11B	1.19B	1.25B	1.18B	1.12B	829.84M
EBITDA	385.72M	360.27M	336.59M	315.15M	295.80M	171.27M
Net Income	222.33M	214.30M	198.43M	199.28M	178.87M	96.01M
Balance Sheet
Total Assets	2.35B	2.18B	2.20B	2.19B	2.01B	1.87B
Cash, Cash Equivalents and Short-Term Investments	89.48M	53.06M	65.44M	58.90M	281.68M	151.45M
Total Debt	901.73M	763.96M	701.17M	567.85M	314.97M	333.93M
Total Liabilities	1.50B	1.38B	1.28B	1.21B	922.27M	849.18M
Stockholders Equity	852.27M	765.25M	864.24M	939.06M	1.04B	984.08M
Cash Flow
Free Cash Flow	110.14M	170.48M	271.23M	-194.15M	276.52M	239.75M
Operating Cash Flow	193.59M	245.11M	371.83M	-67.79M	314.12M	264.43M
Investing Cash Flow	-83.45M	-74.62M	-101.49M	-140.22M	-37.60M	-24.68M
Financing Cash Flow	-118.23M	-179.68M	-264.73M	-8.58M	-140.33M	-128.59M

Acushnet Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 99.49
• 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 Neutral. The current price of 99.49 is below the 20-day moving average (MA) of 99.74, above the 50-day MA of 91.94, and above the 200-day MA of 80.54, indicating a neutral trend. The MACD of 2.29 indicates Positive momentum. The RSI at 57.33 is Neutral, neither overbought nor oversold. The STOCH value of 36.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GOLF.

Acushnet Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GOLF	70 Outperform	$5.87B	27.37	25.91%	1.15%	4.20%	24.12%
JOUT	66 Neutral	$522.34M	-23.14	-7.78%	3.22%	-0.07%	-31.45%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
NWTG	48 Neutral	$7.65M	-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.

Acushnet Holdings Issues $500M Senior Notes

On November 24, 2025, Acushnet Holdings Corp.’s subsidiary, Acushnet Company, issued $500 million in senior notes due 2033 with a 5.625% interest rate. The proceeds will be used to redeem existing notes, repay part of a credit facility, and cover related expenses. Additionally, Acushnet amended its credit agreement to establish a $950 million revolving credit facility maturing in 2030, with various sublimits for international borrowings. This strategic financial restructuring aims to optimize Acushnet’s debt profile and enhance its financial flexibility.

The most recent analyst rating on (GOLF) stock is a Hold with a $82.00 price target. To see the full list of analyst forecasts on Acushnet Holdings stock, see the GOLF Stock Forecast page.

Acushnet Holdings Announces $500M Senior Notes Pricing

On November 12, 2025, Acushnet Holdings Corp. announced the pricing of $500 million in senior notes due 2033 through its subsidiary, Acushnet Company. The proceeds will be used to redeem $350 million of outstanding senior notes due 2028, repay part of a revolving credit facility, and cover related fees. The redemption of the 2028 notes is conditional upon the successful completion of the new notes offering, expected around November 24, 2025.

The most recent analyst rating on (GOLF) stock is a Hold with a $82.00 price target. To see the full list of analyst forecasts on Acushnet Holdings stock, see the GOLF Stock Forecast page.

Acushnet Holdings Plans $500M Senior Notes Offering

On November 12, 2025, Acushnet Holdings Corp. announced its subsidiary, Acushnet Company, plans to raise $500 million through an offering of senior notes due 2033. The proceeds will be used to refinance existing debt, including redeeming outstanding 7.375% Senior Notes due 2028 and repaying part of its revolving secured credit facility. The move aims to optimize the company’s financial structure, though it remains subject to market conditions and customary approvals.

The most recent analyst rating on (GOLF) stock is a Hold with a $82.00 price target. To see the full list of analyst forecasts on Acushnet Holdings stock, see the GOLF Stock Forecast page.