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Acushnet Holding Financials

GOLF
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Acushnet Holding (GOLF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 52 / 100
Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
48

Acushnet Holding has an operating margin of 11.7%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 48/100, indicating healthy but not exceptional operating efficiency. This is down from 12.4% the prior year.

Growth
40

Acushnet Holding's revenue grew a modest 4.1% year-over-year to $2.6B. This slow but positive growth earns a score of 40/100.

Leverage
78

Acushnet Holding carries a low D/E ratio of 1.18, meaning only $1.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
44

Acushnet Holding's current ratio of 2.38 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow
37

Acushnet Holding has a free cash flow margin of 4.7%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
65

Acushnet Holding earns a strong 24.1% return on equity (ROE), meaning it generates $24 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 65/100. This is down from 28.0% the prior year.

Altman Z-Score Safe
4.02

Acushnet Holding scores 4.02, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.5B) relative to total liabilities ($1.6B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
4/9

Acushnet Holding passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.03x

For every $1 of reported earnings, Acushnet Holding generates $1.03 in operating cash flow ($194.4M OCF vs $188.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.6B
YoY+4.1%
5Y CAGR+9.7%
10Y CAGR+5.5%

Acushnet Holding generated $2.6B in revenue in fiscal year 2025. This represents an increase of 4.1% from the prior year.

EBITDA
$354.7M
YoY-1.5%
5Y CAGR+13.2%
10Y CAGR+8.3%

Acushnet Holding's EBITDA was $354.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.5% from the prior year.

Net Income
$188.5M
YoY-12.0%
5Y CAGR+14.5%

Acushnet Holding reported $188.5M in net income in fiscal year 2025. This represents a decrease of 12.0% from the prior year.

EPS (Diluted)
$3.11
YoY-7.7%
5Y CAGR+19.4%

Acushnet Holding earned $3.11 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 7.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$120.0M
YoY-29.6%
5Y CAGR-12.9%
10Y CAGR+5.7%

Acushnet Holding generated $120.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 29.6% from the prior year.

Cash & Debt
$50.1M
YoY-5.6%
5Y CAGR-19.9%
10Y CAGR-0.8%

Acushnet Holding held $50.1M in cash against $926.2M in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.94
YoY+9.3%
5Y CAGR+8.7%

Acushnet Holding paid $0.94 per share in dividends in fiscal year 2025. This represents an increase of 9.3% from the prior year.

Shares Outstanding
N/A

Margins & Returns

Gross Margin
47.7%
YoY-0.6pp
5Y CAGR-3.7pp
10Y CAGR-3.9pp

Acushnet Holding's gross margin was 47.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the prior year.

Operating Margin
11.7%
YoY-0.7pp
5Y CAGR+2.7pp
10Y CAGR+3.9pp

Acushnet Holding's operating margin was 11.7% in fiscal year 2025, reflecting core business profitability. This is down 0.7 percentage points from the prior year.

Net Margin
7.4%
YoY-1.3pp
5Y CAGR+1.4pp
10Y CAGR+7.4pp

Acushnet Holding's net profit margin was 7.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.3 percentage points from the prior year.

Return on Equity
24.1%
YoY-3.9pp
5Y CAGR+14.3pp
10Y CAGR+24.7pp

Acushnet Holding's ROE was 24.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.9 percentage points from the prior year.

Capital Allocation

R&D Spending
$76.5M
YoY+12.8%
5Y CAGR+9.3%
10Y CAGR+5.2%

Acushnet Holding invested $76.5M in research and development in fiscal year 2025. This represents an increase of 12.8% from the prior year.

Share Buybacks
$211.5M
YoY+22.4%
5Y CAGR+97.9%

Acushnet Holding spent $211.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 22.4% from the prior year.

Capital Expenditures
$74.3M
YoY-0.4%
5Y CAGR+24.7%
10Y CAGR+12.3%

Acushnet Holding invested $74.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 0.4% from the prior year.

GOLF Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $477.2M-27.4% $657.7M-8.7% $720.5M+2.4% $703.4M+58.0% $445.2M-28.3% $620.5M-9.3% $683.9M-3.3% $707.6M
Cost of Revenue $266.6M-21.3% $338.5M-7.5% $366.2M0.0% $366.2M+54.2% $237.5M-24.9% $316.3M-9.7% $350.4M-4.1% $365.2M
Gross Profit $210.7M-34.0% $319.1M-9.9% $354.3M+5.1% $337.2M+62.3% $207.7M-31.7% $304.2M-8.8% $333.5M-2.6% $342.4M
R&D Expenses $20.1M+8.1% $18.6M-1.7% $18.9M+0.4% $18.9M+15.5% $16.3M-13.7% $18.9M+17.2% $16.1M-1.9% $16.5M
SG&A Expenses $206.2M+0.6% $204.9M-7.7% $222.0M+10.9% $200.3M+3.7% $193.1M-3.3% $199.7M-3.9% $207.8M+3.4% $201.0M
Operating Income -$17.9M-119.3% $92.9M-15.4% $109.9M-4.1% $114.5M+2299.0% -$5.2M-106.3% $82.1M-22.6% $106.0M-12.7% $121.4M
Interest Expense N/A N/A N/A N/A N/A N/A N/A -$13.1M
Income Tax -$16.4M-157.4% $28.6M+53.9% $18.6M-13.8% $21.6M+315.9% -$10.0M-175.7% $13.2M-37.8% $21.2M-9.4% $23.4M
Net Income -$34.9M-171.9% $48.5M-35.8% $75.6M-24.0% $99.4M+9004.3% -$1.1M-102.0% $56.2M-21.3% $71.4M-18.6% $87.8M
EPS (Diluted) N/A $0.81-35.2% $1.25-22.8% $1.62 N/A $0.89-19.8% $1.11-17.8% $1.35

GOLF Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $2.3B-0.5% $2.4B-1.8% $2.4B-0.3% $2.4B+10.2% $2.2B-4.4% $2.3B+0.3% $2.3B-3.5% $2.4B
Current Assets $1.0B-8.0% $1.1B-3.8% $1.2B-2.6% $1.2B+22.1% $973.9M-10.3% $1.1B-0.7% $1.1B-6.9% $1.2B
Cash & Equivalents $50.1M-44.0% $89.5M+49.0% $60.1M+47.9% $40.6M-23.5% $53.1M-46.4% $99.1M+23.4% $80.3M+64.8% $48.7M
Inventory $608.6M+18.5% $513.7M-3.7% $533.7M-0.8% $538.1M-6.6% $576.0M+15.8% $497.5M+3.1% $482.6M-10.2% $537.4M
Accounts Receivable $217.5M-40.1% $362.9M-15.5% $429.4M-10.0% $477.3M+118.6% $218.4M-40.6% $367.5M-10.7% $411.6M-11.5% $465.0M
Goodwill $224.3M-0.3% $225.0M+0.1% $224.8M+1.3% $221.9M+0.8% $220.1M-2.2% $225.1M+1.5% $221.8M-0.6% $223.2M
Total Liabilities $1.6B+4.0% $1.5B-5.4% $1.6B-2.2% $1.6B+17.0% $1.4B+0.5% $1.4B+0.8% $1.4B-4.4% $1.4B
Current Liabilities $430.2M-6.7% $461.0M-10.5% $515.3M-4.3% $538.2M+13.9% $472.7M-8.3% $515.7M+7.6% $479.2M+9.9% $436.1M
Long-Term Debt $926.2M+5.5% $878.3M-3.6% $911.0M-1.6% $926.1M+23.0% $753.1M+6.4% $708.0M-2.8% $728.1M-12.6% $833.3M
Total Equity $783.6M-8.1% $852.3M+5.4% $808.5M+3.6% $780.3M+2.0% $765.2M-11.4% $863.9M0.0% $863.7M-2.3% $883.7M
Retained Earnings $142.0M-31.9% $208.5M-7.0% $224.2M-4.6% $235.1M+30.4% $180.3M-17.0% $217.2M-6.2% $231.6M+12.9% $205.1M

GOLF Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow -$338K-100.2% $163.1M+7.4% $151.9M+226.3% -$120.3M-10637.0% -$1.1M-100.8% $144.1M-31.9% $211.6M+293.2% -$109.5M
Capital Expenditures $23.0M-12.2% $26.2M+88.7% $13.9M+23.3% $11.3M-64.9% $32.1M+57.3% $20.4M+37.6% $14.8M+103.9% $7.3M
Free Cash Flow -$23.3M-117.0% $136.9M-0.8% $138.0M+204.9% -$131.5M-295.9% -$33.2M-126.9% $123.7M-37.1% $196.8M+268.5% -$116.8M
Investing Cash Flow -$23.0M+10.0% -$25.6M-75.9% -$14.5M-29.0% -$11.3M+64.9% -$32.1M-57.3% -$20.4M-37.6% -$14.8M-103.9% -$7.3M
Financing Cash Flow -$14.6M+86.5% -$108.1M+10.1% -$120.3M-201.8% $118.1M+1575.3% -$8.0M+92.6% -$108.7M+34.0% -$164.6M-262.0% $101.6M
Dividends Paid $13.7M-0.3% $13.8M-0.4% $13.8M-6.3% $14.8M+13.6% $13.0M-1.5% $13.2M-1.8% $13.4M-8.1% $14.6M
Share Buybacks $24.0M-61.6% $62.5M-30.0% $89.3M+150.3% $35.7M+17.2% $30.5M-56.5% $70.1M+80.1% $38.9M+16.8% $33.3M

GOLF Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 44.1%-4.4pp 48.5%-0.7pp 49.2%+1.2pp 47.9%+1.3pp 46.7%-2.4pp 49.0%+0.3pp 48.8%+0.4pp 48.4%
Operating Margin -3.8%-17.9pp 14.1%-1.1pp 15.3%-1.0pp 16.3%+17.5pp -1.2%-14.4pp 13.2%-2.3pp 15.5%-1.7pp 17.2%
Net Margin -7.3%-14.7pp 7.4%-3.1pp 10.5%-3.6pp 14.1%+14.4pp -0.3%-9.3pp 9.1%-1.4pp 10.4%-2.0pp 12.4%
Return on Equity -4.5%-10.1pp 5.7%-3.7pp 9.3%-3.4pp 12.7%+12.9pp -0.1%-6.7pp 6.5%-1.8pp 8.3%-1.7pp 9.9%
Return on Assets -1.5%-3.6pp 2.1%-1.1pp 3.1%-1.0pp 4.1%+4.2pp -0.1%-2.5pp 2.5%-0.7pp 3.1%-0.6pp 3.7%
Current Ratio 2.38-0.0 2.42+0.2 2.25+0.0 2.21+0.1 2.06-0.0 2.10-0.2 2.28-0.4 2.69
Debt-to-Equity 1.18+0.2 1.03-0.1 1.13-0.1 1.19+0.2 0.98+0.2 0.82-0.0 0.84-0.1 0.94
FCF Margin -4.9%-25.7pp 20.8%+1.7pp 19.1%+37.9pp -18.7%-11.2pp -7.5%-27.4pp 19.9%-8.8pp 28.8%+45.3pp -16.5%

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Frequently Asked Questions

Acushnet Holding (GOLF) reported $2.6B in total revenue for fiscal year 2025. This represents a 4.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Acushnet Holding (GOLF) revenue grew by 4.1% year-over-year, from $2.5B to $2.6B in fiscal year 2025.

Yes, Acushnet Holding (GOLF) reported a net income of $188.5M in fiscal year 2025, with a net profit margin of 7.4%.

Acushnet Holding (GOLF) reported diluted earnings per share of $3.11 for fiscal year 2025. This represents a -7.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Acushnet Holding (GOLF) had EBITDA of $354.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Acushnet Holding (GOLF) had $50.1M in cash and equivalents against $926.2M in long-term debt.

Acushnet Holding (GOLF) had a gross margin of 47.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Acushnet Holding (GOLF) had an operating margin of 11.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Acushnet Holding (GOLF) had a net profit margin of 7.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Acushnet Holding (GOLF) paid $0.94 per share in dividends during fiscal year 2025.

Acushnet Holding (GOLF) has a return on equity of 24.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Acushnet Holding (GOLF) generated $120.0M in free cash flow during fiscal year 2025. This represents a -29.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Acushnet Holding (GOLF) generated $194.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Acushnet Holding (GOLF) had $2.3B in total assets as of fiscal year 2025, including both current and long-term assets.

Acushnet Holding (GOLF) invested $74.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Acushnet Holding (GOLF) invested $76.5M in research and development during fiscal year 2025.

Yes, Acushnet Holding (GOLF) spent $211.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Acushnet Holding (GOLF) had a current ratio of 2.38 as of fiscal year 2025, which is generally considered healthy.

Acushnet Holding (GOLF) had a debt-to-equity ratio of 1.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Acushnet Holding (GOLF) had a return on assets of 8.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Acushnet Holding (GOLF) has an Altman Z-Score of 4.02, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Acushnet Holding (GOLF) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Acushnet Holding (GOLF) has an earnings quality ratio of 1.03x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Acushnet Holding (GOLF) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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