Acushnet Holdings Corp

acushnetholdingscorp.com

What Do They Do?

Sells golf equipment, golf wear and golf gear for dedicated golfers under Titleist, FootJoy and other brands.

How Do They Make Money?

Customers pay for golf products when they ship or are delivered; most sales are billed on account, with most payment terms between 30 and 60 days.

revenue

Segment	Share	How money arrives
Titleist golf equipment Sold outright	62% FY2022: 57%	Sold outright
FootJoy Golf Wear Sold outright	22% FY2022: 27%	Sold outright
Golf Gear Sold outright	9.6% FY2022: 9.3%	Sold outright

Who Are Their Customers?

Premium golf shops and other qualified retailers buy for resale. The company sells directly in many major markets, uses selected distributors in others, and also sells through its brand eCommerce websites.

Do Revenues Turn Into Profits?

Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 5 cents into free cash flow.

Operating income, FY2025

12% of revenue

▼ −2% vs FY2024 ($304.3M, 12%)

Net income, FY2025

7% of revenue

▼ −12% vs FY2024 ($214.3M, 9%)

Free cash flow, FY2025

5% of revenue

▼ −30% vs FY2024 ($170.5M, 7%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +14%; vs $720.5M in Q2 FY2025
Net income: ▲ +65%; vs $75.6M in Q2 FY2025

Titleist Golf Equipment share of revenue vs 63.0% in Q2 FY2025

Aug 6, 2026 Updated full-year revenue and adjusted EBITDA outlook The outlook is $2,650 to $2,675 million in revenue and $450 to $470 million in adjusted EBITDA.

Growing. Revenue grew 19% in 4 years, from $2.1B in FY2021 to $2.6B in FY2025, about 4% a year.

Revenue over time

Titleist golf equipment FootJoy Golf Wear Golf Gear Other Titleist golf balls Titleist golf clubs Titleist golf gear

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Callaway, TaylorMade, Ping, SRI Sports, Bridgestone, Nike, Adidas, Ecco, Peter Millar, GFore, and Under Armour

Comments