GOLF

MKT CAP:$6B

Acushnet Holdings Corp.

Market Cap

$6B

Consumer Cyclical·Leisure·🇺🇸 United States·NYSE

Consumer Cyc.·Leisure·🇺🇸·NYSE

Stock Price

$99.96+$17.85 (+21.74%)

Apr 17, 2026

Company Details

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...

CEO

David E. Maher

IPO Date

Oct 28, 2016

Website

www.acushnetholdingscorp.com

Key Metrics TTM

Revenue

$2.7B

— YoY

Net Income

$316M

EPS (Diluted)

$4.93

Free Cash Flow

-$75M

Revenue / Share

$43.72

Gross Margin

50.6%

Operating Margin

15.6%

Net Margin

11.8%

FCF Margin

-2.8%

P/S

2.1x

P/E

18.3x

Earnings Reports

Q2 2025

May 6, 2026

PENDING

FY 2025

Feb 27, 2026

$2.6BEPS $3.10

Q1 2025

May 7, 2025

$703M-0.6%EPS $1.62

Q2 2024

Aug 6, 2024

$684M-0.8%EPS $1.11

Q1 2024

May 7, 2024

$708M+3.1%EPS $1.35

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$447M	$224M	$12M
Q1 23	$686M	$366M	$125M
Q2 23	$689M	$369M	$106M
Q3 23	$593M	$309M	$79M
Q1 24	$708M	$342M	$121M
Q2 24	$684M	$372M	$106M
Q1 25	$703M	$337M	$115M

Valuation

Quarter	P/S	P/E
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	1.4x	15.3x
Q1 24	1.6x	13.7x
Q2 24	1.4x	13.3x
Q1 25	1.6x	13.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$9M	-$36M
Q1 23	-$86M	-$120M
Q2 23	$206M	$188M
Q3 23	$177M	$162M
Q1 24	-$110M	-$117M
Q2 24	$212M	$197M
Q1 25	-$120M	-$132M
Q4 25	-$338.0K	-$23M

Capital Expenditures

Quarter	CapEx
Q4 22	$28M
Q1 23	$34M
Q2 23	$19M
Q3 23	$15M
Q1 24	$7M
Q2 24	$15M
Q1 25	$11M
Q4 25	$23M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	+58.1%	+34.5%
Q2 24	-0.4%	+2.9%
Q1 25	+2.0%	+1.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$6M	1.3%
Q1 23	$7M	1.1%
Q2 23	$9M	1.3%
Q3 23	$5M	0.9%
Q1 24	$7M	1.0%
Q2 24	$8M	1.1%
Q1 25	$7M	1.0%
Q4 25	$0	—

OpEx Breakdown

Quarter	R&D	SG&A
Q4 22	$14M	$196M
Q1 23	$15M	$223M
Q2 23	$17M	$242M
Q3 23	$16M	$210M
Q1 24	$16M	$201M
Q2 24	$16M	$246M
Q1 25	$19M	$200M

Revenue Segments

Quarter	Footjoy Golf Wear	Other Segments	Titleist Golf Balls	Titleist Golf Clubs	Titleist Golf Gear	Other Operating Segment
Q4 22	$111M	$41M	$132M	$131M	$32M	—
Q1 23	$205M	$41M	$192M	$181M	$67M	—
Q2 23	$158M	$36M	$238M	$188M	$70M	—
Q3 23	$137M	$35M	$193M	$181M	$48M	—
Q1 24	$192M	$35M	$208M	$204M	$68M	—
Q2 24	$157M	—	$247M	$178M	$69M	$33M

Revenue by Geography

Quarter	Emea	Japan	Korea, Republic Of	Rest Of World	United States
Q4 22	$47M	$42M	$59M	$46M	$254M
Q1 23	$105M	$46M	$89M	$76M	$370M
Q2 23	$86M	$33M	$87M	$82M	$401M
Q3 23	$76M	$39M	$66M	$61M	$352M
Q1 24	$102M	$37M	$75M	$75M	$418M
Q2 24	$87M	$30M	$84M	$75M	$409M
Q1 25	$104M	$35M	$66M	$74M	$424M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$114M	$0	$114M
Q2 22	$109M	$0	$109M
Q3 22	$108M	$0	$108M
Q4 22	$59M	$0	$59M
Q1 23	$57M	$0	$57M
Q2 23	$63M	$0	$63M
Q3 23	$57M	$0	$57M
Q4 23	$65M	$0	$65M
Q1 24	$49M	$0	$49M
Q2 24	$80M	$0	$80M
Q3 24	$99M	$0	$99M
Q4 24	$53M	$0	$53M
Q1 25	$41M	$0	$41M
Q2 25	$60M	$0	$60M
Q3 25	$89M	$0	$89M
Q4 25	$50M	$0	$50M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	70M	—	—
Q1 23	69M	-1.6%	—
Q2 23	69M	+0.0%	—
Q3 23	67M	-1.9%	—
Q1 24	65M	-3.6%	-7.0%
Q2 24	64M	-1.1%	-6.5%
Q1 25	61M	-4.2%	-10.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$61.3K	7K
Q1 23	$94.0K	7K
Q2 23	$94.4K	7K
Q3 23	$81.3K	7K
Q1 24	$96.9K	7K
Q2 24	$93.7K	7K
Q1 25	$96.4K	7K

Revenue / Employee