Acushnet Holdings Corp. - Understand $golf stock

$GOLF Market Cap: $4.564 Billion

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Financial Snapshot

Revenue

$2.425B

TTM

Gross Margin

53.24%

TTM

Net Earnings

$188.6M

TTM

Current Assets

$1.085B

Q3 2024

Current Liabilities

$515.7M

Q3 2024

Current Ratio

210.48%

Q3 2024

Total Assets

$2.281B

Q3 2024

Total Liabilities

$1.376B

Q3 2024

Book Value

$905.1M

Q3 2024

Cash

$99.06M

Q3 2024

P/E

24.20

Nov 29, 2024 EST

Free Cash Flow

$245.7M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$2.382B	$2.270B	$2.148B	$1.612B	$1.681B	$1.634B	$1.560B	$1.572B	$1.503B	$1.538B	$1.477B	$1.451B	$1.336B
YoY Change	4.92%	5.7%	33.23%	-4.12%	2.92%	4.71%	-0.76%	4.61%	-2.25%	4.09%	1.8%	8.61%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Revenue	$2.382B	$2.270B	$2.148B	$1.612B	$1.681B	$1.634B	$1.560B	$1.572B	$1.503B	$1.538B	$1.477B	$1.451B	$1.336B
Cost Of Revenue	$1.129B	$1.091B	$1.029B	$782.3M	$809.1M	$791.4M	$758.4M	$773.3M	$727.1M	$779.7M	$744.1M	$753.1M	$762.2M
Gross Profit	$1.253B	$1.179B	$1.118B	$829.8M	$872.2M	$842.4M	$801.9M	$799.0M	$775.8M	$757.9M	$733.1M	$698.0M	$573.9M
Gross Profit Margin	52.58%	51.94%	52.07%	51.47%	51.88%	51.56%	51.39%	50.82%	51.62%	49.29%	49.63%	48.1%	42.95%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Selling, General & Admin	$888.1M	$833.4M	$795.4M	$610.6M	$627.5M	$611.9M	$578.3M	$600.1M	$600.2M	$599.5M	$564.7M	$567.0M	$511.9M
YoY Change	6.57%	4.78%	30.27%	-2.69%	2.55%	5.81%	-3.63%	-0.02%	0.12%	6.16%	-0.41%	10.76%
% of Gross Profit	70.91%	70.67%	71.12%	73.58%	71.94%	72.64%	72.12%	75.11%	77.37%	79.1%	77.03%	81.23%	89.2%
Research & Development	$64.84M	$56.39M	$55.34M	$48.94M	$51.60M	$51.49M	$47.24M	$48.13M	$46.00M	$44.20M	$42.20M	$41.60M	$37.70M
YoY Change	14.98%	1.91%	13.06%	-5.15%	0.22%	8.99%	-1.84%	4.62%	4.07%	4.74%	1.44%	10.34%
% of Gross Profit	5.18%	4.78%	4.95%	5.9%	5.92%	6.11%	5.89%	6.02%	5.93%	5.83%	5.76%	5.96%	6.57%
Depreciation & Amortization	$51.36M	$41.71M	$41.24M	$45.43M	$43.00M	$40.50M	$40.87M	$40.83M	$41.70M	$43.20M	$39.40M	$6.700M	$3.000M
YoY Change	23.14%	1.12%	-9.21%	5.64%	6.19%	-0.92%	0.09%	-2.08%	-3.47%	9.64%	488.06%	123.33%
% of Gross Profit	4.1%	3.54%	3.69%	5.47%	4.93%	4.81%	5.1%	5.11%	5.38%	5.7%	5.37%	0.96%	0.52%
Operating Expenses	$953.0M	$889.8M	$850.8M	$659.5M	$679.1M	$663.4M	$625.5M	$648.2M	$652.9M	$650.4M	$613.5M	$615.3M	$552.5M
YoY Change	7.1%	4.59%	28.99%	-2.88%	2.37%	6.05%	-3.5%	-0.72%	0.38%	6.01%	-0.29%	11.37%
Operating Profit	$285.3M	$281.5M	$259.8M	$145.5M	$185.7M	$172.3M	$169.8M	$142.5M	$122.9M	$107.5M	$119.6M	$82.70M	$21.40M
YoY Change	1.34%	8.36%	78.62%	-21.65%	7.73%	1.48%	19.18%	15.95%	14.33%	-10.12%	44.62%	286.45%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Interest Expense	-$45.29M	-$25.17M	-$7.709M	-$15.60M	-$19.40M	-$20.10M	-$13.00M	-$55.10M	-$92.50M	-$64.90M	-$70.90M	-$69.20M	-$31.00M
YoY Change	79.94%	226.49%	-50.58%	-19.59%	-3.48%	54.62%	-76.41%	-40.43%	42.53%	-8.46%	2.46%	123.23%
% of Operating Profit	-15.87%	-8.94%	-2.97%	-10.72%	-10.45%	-11.66%	-7.65%	-38.67%	-75.26%	-60.37%	-59.28%	-83.68%	-144.86%
Other Income/Expense, Net	-$2.417M	-$8.829M	-$4.280M	-$16.78M	-$875.0K	-$3.629M	-$2.443M	-$3.371M	$3.200M	-$500.0K	-$6.300M	$14.70M	-$1.800M
YoY Change	-72.62%	106.29%	-74.49%	1817.26%	-75.89%	48.55%	-27.53%	-205.34%	-740.0%	-92.06%	-142.86%	-916.67%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011
Pretax Income	$241.6M	$259.4M	$247.8M	$113.0M	$165.2M	$54.00M	$61.16M	-$3.995M	$32.20M	$42.10M	$41.50M	$25.70M	-$24.70M
YoY Change	-6.87%	4.69%	119.22%	-31.55%	205.84%	-11.7%	-1630.86%	-112.41%	-23.52%	1.45%	61.48%	-204.05%
Income Tax	$42.99M	$54.35M	$63.58M	$13.04M	$40.60M	$47.23M	$48.48M	$39.71M	$28.00M	$16.70M	$17.20M	$7.600M	$4.500M
% Of Pretax Income	17.8%	20.95%	25.66%	11.53%	24.58%	87.46%	79.26%		86.96%	39.67%	41.45%	29.57%
Net Earnings	$198.4M	$199.3M	$178.9M	$96.01M	$121.1M	$99.87M	$98.70M	$45.01M	-$1.000M	$21.60M	$19.60M	$13.90M	-$31.20M
YoY Change	-0.43%	11.41%	86.31%	-20.7%	21.23%	1.19%	119.26%	-4601.2%	-104.63%	10.2%	41.01%	-144.55%
Net Earnings / Revenue	8.33%	8.78%	8.33%	5.96%	7.2%	6.11%	6.33%	2.86%	-0.07%	1.4%	1.33%	0.96%	-2.34%
Basic Earnings Per Share	$2.96	$2.77	$2.40	$1.29	$1.61	$1.34	$1.33	$0.74
Diluted Earnings Per Share	$2.94	$2.75	$2.38	$1.28	$1.60	$1.32	$1.32	$0.62	-$13.50K	$291.5K	$264.5K	$187.6K	-$421.1K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Short-Term Investments	$63.74M	$58.90M	$281.7M	$151.5M	$34.20M	$31.00M	$47.70M	$76.10M	$54.40M	$47.70M
YoY Change	8.2%	-79.09%	85.93%	342.98%	10.32%	-35.01%	-37.32%	39.89%	14.05%
Cash & Equivalents	$63.74M	$58.90M
Short-Term Investments
Other Short-Term Assets	$116.1M	$108.8M	$99.75M	$89.20M	$94.80M	$85.70M	$84.50M	$87.70M	$98.40M	$100.3M
YoY Change	6.69%	9.07%	11.83%	-5.91%	10.62%	1.42%	-3.65%	-10.87%	-1.89%
Inventory	$615.5M	$674.7M	$413.3M	$357.7M	$398.4M	$361.2M	$364.0M	$323.3M	$326.4M	$291.1M
Prepaid Expenses
Receivables	$201.4M	$216.7M	$174.4M	$201.5M	$215.4M	$186.1M	$190.9M	$177.5M	$192.4M	$197.7M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$996.7M	$1.059B	$969.2M	$799.8M	$742.8M	$664.0M	$687.1M	$664.5M	$671.5M	$636.8M
YoY Change	-5.89%	9.28%	21.18%	7.67%	11.87%	-3.36%	3.4%	-1.04%	5.45%
Property, Plant & Equipment	$384.2M	$312.1M	$277.6M	$276.7M	$276.0M	$228.4M	$228.9M	$239.7M	$254.9M	$266.6M
YoY Change	23.11%	12.4%	0.34%	0.25%	20.84%	-0.22%	-4.51%	-5.96%	-4.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$53.11M	$71.96M	$83.25M	$101.3M	$103.4M	$111.3M	$133.3M	$162.7M	$151.9M	$162.3M
YoY Change	-26.19%	-13.57%	-17.81%	-2.03%	-7.1%	-16.5%	-18.07%	7.11%	-6.41%
Total Long-Term Assets	$1.200B	$1.135B	$1.037B	$1.067B	$1.074B	$1.028B	$1.047B	$1.072B	$1.088B	$1.126B
YoY Change	5.75%	9.46%	-2.83%	-0.69%	4.53%	-1.83%	-2.32%	-1.45%	-3.41%
Total Assets	$2.197B	$2.194B	$2.006B	$1.867B	$1.817B	$1.692B	$1.734B	$1.736B	$1.759B	$1.763B
YoY Change
Accounts Payable	$150.5M	$167.0M	$163.6M	$112.9M	$102.3M	$86.00M	$92.80M	$87.60M	$89.90M	$94.00M
YoY Change	-9.87%	2.07%	44.91%	10.36%	18.95%	-7.33%	5.94%	-2.56%	-4.36%
Accrued Expenses	$224.3M	$300.0M	$244.2M	$183.4M	$144.7M	$133.4M	$126.3M	$270.2M	$180.8M	$126.3M
YoY Change	-25.22%	22.84%	33.16%	26.74%	8.47%	5.62%	-53.26%	49.45%	43.15%
Deferred Revenue
YoY Change
Short-Term Debt	$29.00M	$40.34M	$116.0K	$2.800M	$54.10M	$900.0K	$20.40M	$42.50M	$51.60M	$45.40M
YoY Change	-28.11%	34672.41%	-95.86%	-94.82%	5911.11%	-95.59%	-52.0%	-17.64%	13.66%
Long-Term Debt Due	$878.0K	$364.0K	$17.78M	$17.60M	$17.50M	$35.60M	$26.70M	$18.80M	$402.6M	$49.40M
YoY Change	141.21%	-97.95%	1.01%	0.57%	-50.84%	33.33%	42.02%	-95.33%	714.98%
Total Short-Term Liabilities	$451.1M	$548.6M	$483.0M	$357.7M	$359.1M	$294.9M	$306.8M	$462.1M	$755.6M	$346.9M
YoY Change	-17.77%	13.58%	35.04%	-0.39%	21.77%	-3.88%	-33.61%	-38.84%	117.81%
Long-Term Debt	$671.8M	$527.5M	$297.4M	$313.6M	$330.7M	$347.0M	$417.0M	$348.3M	$394.5M	$824.2M
YoY Change	27.36%	77.4%	-5.18%	-5.17%	-4.7%	-16.79%	19.72%	-11.71%	-52.14%
Other Long-Term Liabilities	$153.8M	$128.4M	$136.9M	$174.1M	$170.8M	$118.2M	$146.9M	$149.4M	$277.2M	$265.0M
YoY Change	19.75%	-6.23%	-21.34%	1.93%	44.5%	-19.54%	-1.67%	-46.1%	4.6%
Total Long-Term Liabilities	$825.6M	$655.9M	$434.3M	$487.7M	$501.5M	$465.2M	$563.9M	$497.7M	$671.7M	$1.089B
YoY Change	25.87%	51.03%	-10.95%	-2.75%	7.8%	-17.5%	13.3%	-25.9%	-38.33%
Total Liabilities	$1.332B	$1.255B	$963.0M	$882.6M	$898.6M	$796.7M	$912.6M	$1.000B	$1.468B	$1.475B
YoY Change	6.19%	30.3%	9.11%	-1.78%	12.79%	-12.7%	-8.77%	-31.85%	-0.5%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016
Basic Shares Outstanding	67.06M shares	71.96M shares	74.54M shares	74.49M shares	75.42M shares	74.77M shares	74.40M shares	31.25M shares
Diluted Shares Outstanding	67.52M shares	72.56M shares	75.27M shares	75.06M shares	75.76M shares	75.47M shares	74.59M shares	64.32M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $4.5645 Billion

About Acushnet Holdings Corp.

Acushnet Holdings Corp. engages in the design, development, manufacture, and distribution of performance-driven golf products. The company is headquartered in Fairhaven, Massachusetts and currently employs 7,300 full-time employees. The company went IPO on 2016-10-28. The Company’s segments include Titleist golf balls, Titleist golf clubs, Titleist golf gear, and FootJoy golf wear. The Titleist golf balls segment is engaged in the design and manufacturing of a golf balls. The Titleist golf clubs segment designs, assembles, and sells golf clubs (drivers, fairways, hybrids, and irons) under the Titleist brand, wedges under the Vokey Design brand and putters under the Scotty Cameron brand. The Titleist golf gear segment includes golf bags, headwear, golf gloves, travel products, headcovers, and other golf accessories. The FootJoy golf wear segment includes golf shoes, gloves, and apparel. The Company’s products include golf balls, golf clubs, wedges and putters, golf shoes, golf gloves, golf gear, and golf and ski outerwear and apparel. The company designs, manufactures, and markets a range of products under the Titleist, FootJoy and KJUS brands.

Industry: Sporting & Athletic Goods, NEC Peers: BRUNSWICK CORP Topgolf Callaway Brands Corp. HASBRO, INC. MALIBU BOATS, INC. MATTEL INC /DE/ PELOTON INTERACTIVE, INC. Polaris Inc. Vista Outdoor Inc. YETI Holdings, Inc.