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Acushnet Holdings
(NYSE:GOLF)
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Rating:64Neutral
Price Target:
$110.00
▲(5.10% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid underlying financial performance and a constructive earnings update with raised full-year guidance and improved leverage. These positives are tempered by higher financial risk from increased leverage and inconsistent cash conversion, while near-term technical momentum is weak and valuation is relatively expensive (high P/E with a sub-1% yield).
Positive Factors
Product innovation and Titleist brand strength
Sustained success of new equipment (GTS metals) and Tour visibility for Titleist balls create durable demand drivers. Strong brand equity supports repeat purchases, premium pricing and dealer placement, underpinning midterm revenue stability and margin resilience across cycles.
Negative Factors
Rising financial leverage
Material increase in leverage meaningfully raises financial risk and interest sensitivity. Higher indebtedness can limit strategic optionality, reduce resilience to demand shocks, and constrain returns to shareholders if revenue or margins deteriorate in the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Product innovation and Titleist brand strength
Sustained success of new equipment (GTS metals) and Tour visibility for Titleist balls create durable demand drivers. Strong brand equity supports repeat purchases, premium pricing and dealer placement, underpinning midterm revenue stability and margin resilience across cycles.
Read all positive factors
Acushnet Holdings (GOLF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.30B
Dividend Yield1.09%
Average Volume (3M)355.65K
Price to Earnings (P/E)24.6
Beta (1Y)0.72
Revenue Growth8.77%
EPS Growth-2.02%
CountryUS
Employees7,300
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)3.68
Shares Outstanding58,405,045
10 Day Avg. Volume422,184
30 Day Avg. Volume355,654
Financial Highlights & Ratios
PEG Ratio-3.33
Price to Book (P/B)6.10
Price to Sales (P/S)1.87
P/FCF Ratio39.81
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$106.50Price Target Upside1.76% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)3.95
Revenue Forecast (FY)$2.67B
Acushnet Holdings Business Overview & Revenue Model
Company Description
Acushnet Holdings Corp. (GOLF) is a golf-focused sporting goods company that designs, manufactures, and markets golf equipment and related products worldwide. The company’s portfolio includes golf balls and clubs under the Titleist brand, golf gea...
How the Company Makes Money
Acushnet makes money primarily by selling golf products to retailers, golf specialty shops, on-course/pro-shop accounts, and other distribution partners, as well as through direct-to-consumer channels where applicable. Its core revenue streams are...
Acushnet Holdings Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum in the first half—driven by successful product launches (GTS metals), broad regional revenue gains, margin expansion and improved cash flow and leverage. Results were aided by non-recurring IEEPA tariff refunds, and management highlighted ongoing investments (capacity, ERP) and higher operating costs. Guidance was raised for the full year but management warned of tougher second-half comparisons due to launch timing shifts and persistent cost pressures, and wearables weakness in parts of Asia represents a drag. Overall, positives (organic growth, margin gains, balance sheet strength, and successful launches) meaningfully outweigh the transitory and manageable negatives (one-time refund effects, timing headwinds, input cost volatility and regional softness).Positive Updates
Strong Revenue Growth
Q2 net sales of $820M, up 14% YoY; first half net sales $1.57B, up 10% YoY. Company raised full-year sales guidance to $2.65B–$2.675B (≈+4.1% at midpoint) with constant-currency sales growth expected +3.4% to +4.3%.
Negative Updates
One-Time Tariff Refunds Mask Underlying Performance
Reported EBITDA and gross margin were materially aided by one-time IEEPA tariff refunds (~$38M in Q2; ~$30M full-year net benefit). Excluding the net refund, first half adjusted EBITDA growth was 12% (vs 25% reported) and first half gross margin excluding refund was 48.1%, down ~50 bps YoY.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Q2 net sales of $820M, up 14% YoY; first half net sales $1.57B, up 10% YoY. Company raised full-year sales guidance to $2.65B–$2.675B (≈+4.1% at midpoint) with constant-currency sales growth expected +3.4% to +4.3%.
Read all positive updates
Company Guidance
Acushnet raised full‑year guidance to net sales of $2.65–2.675 billion (up ~4.1% at the midpoint; +3.4%–4.3% constant currency) and adjusted EBITDA of $450–470 million (which includes a full‑year net IEEPA tariff refund benefit of ≈$30 million — $38 million was recognized in Q2 with the remaining ≈$8 million to be booked in H2); the company now expects 2026 tariff expense of ≈$54 million (about $16 million below the prior $70 million estimate), sees second‑half net sales down low single digits with adjusted EBITDA declining versus H2’25 (most pronounced in Q4), still expects full‑year free cash flow to convert roughly 40%–50% of adjusted EBITDA, reported Q2 net leverage slightly below 2.0x, H1 capex of $37 million, and inventories flat year‑over‑year.Acushnet Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.71B | 2.56B | 2.46B | 2.38B | 2.27B | 2.15B |
| Gross Profit | 1.33B | 1.21B | 1.19B | 1.25B | 1.18B | 1.12B |
| EBITDA | 390.37M | 354.23M | 360.27M | 336.59M | 315.15M | 295.80M |
| Net Income | 219.86M | 188.54M | 214.30M | 198.43M | 199.28M | 178.87M |
Balance Sheet | ||||||
| Total Assets | 2.58B | 2.34B | 2.18B | 2.20B | 2.19B | 2.01B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 50.09M | 53.06M | 65.44M | 58.90M | 281.68M |
| Total Debt | 960.07M | 1.07B | 763.96M | 701.17M | 567.85M | 314.97M |
| Total Liabilities | 1.65B | 1.56B | 1.38B | 1.28B | 1.21B | 922.27M |
| Stockholders Equity | 924.37M | 783.57M | 765.25M | 864.24M | 939.06M | 1.04B |
Cash Flow | ||||||
| Free Cash Flow | 183.74M | 120.03M | 170.48M | 271.23M | -194.15M | 276.52M |
| Operating Cash Flow | 270.21M | 194.37M | 245.11M | 371.83M | -67.79M | 314.12M |
| Investing Cash Flow | -85.82M | -74.34M | -74.62M | -101.49M | -140.22M | -37.60M |
| Financing Cash Flow | -173.64M | -124.82M | -179.68M | -264.73M | -8.58M | -140.33M |
Acushnet Holdings Technical Analysis
Negative
104.66
Price Trends
104.34
Negative
98.32
Negative
93.60
Negative
Market Momentum
-4.69
Positive
27.68
Positive
6.21
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GOLF, the sentiment is Negative. The current price of 104.66 is above the 20-day moving average (MA) of 97.69, above the 50-day MA of 104.34, and above the 200-day MA of 93.60, indicating a bearish trend. The MACD of -4.69 indicates Positive momentum. The RSI at 27.68 is Positive, neither overbought nor oversold. The STOCH value of 6.21 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $5.30B | 24.64 | 25.98% | 0.94% | 8.77% | -2.02% | |
62 Neutral | $495.07M | -61.21 | -1.90% | 2.87% | 17.49% | 82.16% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
48 Neutral | $7.97M | >-0.01 | -476.84% | ― | 28.80% | 92.99% |
* Consumer Cyclical Sector Average
GOLF
Acushnet Holdings
89.58
12.29
15.90%
JOUT
Johnson Outdoors
47.85
9.13
23.60%
NWTG
Newton Golf Company
1.29
-0.29
-18.35%
Acushnet Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Acushnet Shareholders Reelect Board and Approve Governance Matters
Positive
Jun 11, 2026
On June 8, 2026, Acushnet Holdings Corp. stockholders elected all nominated directors to the board at the company’s 2026 annual meeting, underscoring continuity in its leadership and governance structure. Investors also signaled confidence i...
Business Operations and StrategyStock Buyback
Acushnet Announces Targeted Share Repurchase Agreement with Magnus
Positive
Jun 8, 2026
On June 8, 2026, Acushnet Holdings Corp. entered into an agreement with shareholder Magnus Holdings Co., Ltd. to repurchase up to $52.5 million of its common stock from Magnus under its existing $1.25 billion share buyback program. The shares will...
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.