Start here if you're new
what it is
Acushnet sells golf balls, clubs, shoes, and gear under Titleist and FootJoy, then charges premium prices because golfers trust the brands.
how it gets paid
Last year Acushnet made $2.6B in revenue. Titleist Golf Balls was the main engine at $0.83B, or 32% of sales.
why it's growing
Revenue grew 4.1% last year. Annual revenue still reached $2.6 billion, up 4.1%, and gross margin was 48.6%.
what just happened
The quarter mattered because EPS came in at -$0.30 versus a -$0.08 estimate, a brutal miss.
At a glance
B+ balance sheet — decent shape, but not bulletproof
55/100 earnings predictability — expect surprises
24.4x trailing p/e — priced about right
1.2% dividend yield — cash in your pocket every quarter
15.5% return on capital — nothing to write home about
xvary composite: 50/100 — below average
What they do
Acushnet sells golf balls, clubs, shoes, and gear under Titleist and FootJoy, then charges premium prices because golfers trust the brands.
This company wins because golfers buy trust, not just gear. Titleist golf balls were 32% of 2024 sales, and the brand has been the #1 ball in professional golf for more than 70 years. Brand equity (people pay more because they believe the name) means your weekend foursome is still buying the same ball the pros use.
How they make money
$2.6B
annual revenue · their business grew +4.1% last year
Titleist Golf Balls
$0.83B
Titleist Golf Clubs
$0.62B
FootJoy Golf Wear
$0.57B
Titleist Golf Gear
$0.57B
The products that matter
premium golf clubs and balls
Titleist
inside a $2.6B company
titleist sits at the center of the $2.6B business. This page does not break out brand revenue, but higher average selling prices in golf clubs and stronger golf ball volume helped support the 6% sales increase discussed in the third quarter.
pricing power
golf shoes, gloves, and apparel
FootJoy
part of the same $2.6B base
footjoy also showed pricing support, with higher average selling prices across golf gear and golf wear. In human-speak: customers did not suddenly start trading down.
brand support
company-wide brand economics
Brand portfolio
25% roe · 8.5% net margin
the company is not giving you a neat segment table on this page. What you do have is a business earning $0.25 on every $1 of equity while keeping about 8.5 cents of every revenue dollar after costs. That's good. It's also why tariffs and taxes matter so much here.
economics
Key numbers
24.4x
trailing p/e
Valuation multiple → how expensive the stock is versus profit → so what: you are paying a premium price for a company that just had estimates cut.
15.5%
operating margin
Operating margin → profit after running the business → so what: this is a strong margin for sporting goods, but not so high that mistakes disappear.
15.5%
return on capital
Return on capital → profit from money invested in the business → so what: Acushnet is still turning each dollar of business investment into solid returns.
$878M
long-term debt
Debt → money owed over time → so what: 14% of capital is manageable, but it still matters if sales stumble.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $878M (14% of capital)
- net profit margin 9.3% — keeps 9 cents of every dollar in revenue
- return on equity 25% — $0.25 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in GOLF 3 years ago → it's now worth $19,430.
The index would have given you $14,770.
source: institutional data · total return
What just happened
missed estimates
The quarter mattered because EPS came in at -$0.30 versus a -$0.08 estimate, a brutal miss.
Annual revenue still reached $2.6 billion, up 4.1%, and gross margin was 48.6%. The problem was earnings pressure, including a higher effective tax rate and reduced full-year estimates.
$2.1B
revenue
$3.68
eps
48.6%
gross margin
the number that mattered
The real number was the 275% earnings miss versus expectations, because premium stocks get punished when the 'premium execution' part disappears.
-
we have pared our 2025 and 2026 earnings estimates for acushnet holdings corp.
-
the golf gear company posted third-quarter earnings of $0.81 a share, 9% below our estimate and the year-ago figure, on a better-than-expected 6% uptick in sales.top-line growth was driven by higher net sales in titleist golf equipment, primarily due to increased average selling prices in golf clubs and sales volume in golf balls, and higher net sales in golf gear and footjoy golf wear, thanks to increased average selling prices across all product categories in both segments.
-
however, the bottom line was tempered by a rather significant increase in the company’s effective income tax rate, which jumped from 19.3% a year ago to 37.3% during the september interim.
-
as a result, we have lowered our estimates for last year and this year by $0.20 and $0.10 a share, to $3.60 and $3.85, respectively.
-
nevertheless, investors seem confident in the company’s prospects.
source: company earnings report, 2026
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What could go wrong
Acushnet's problem is not that the brands are weak. It's that an 8.5% net margin leaves less room for tariff delays, tax noise, and estimate cuts to pile up at the same time.
med
tariff mitigation slips past 2026
management is targeting full tariff mitigation by 2026. Until that actually arrives, cost pressure stays live in a business with an 8.5% net margin.
If mitigation slips, the margin story gets thinner and the current 24.4x earnings multiple has less support.
med
tax-rate volatility keeps hitting EPS
the effective income tax rate jumped from 19.3% to 37.3% in the september interim period. You can sell more product and still disappoint on earnings if that line stays elevated.
That is what investors just saw: sales improved, but EPS still missed the cleaner version of the story.
med
premium multiple meets modest growth
annual revenue grew 4.1% and earnings predictability sits at 55/100. That is fine for a good business. It is less comfortable when the stock already trades at 24.4x trailing earnings.
If estimates slip below the current $3.85 FY2026 EPS view, you are probably looking at multiple compression before you get upside.
An 8.5% net margin on $2.6B of revenue gives Acushnet a real business, but not a huge cushion if tariffs and taxes stay elevated together.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
next earnings report
acushnet holdings is scheduled to report on feb 25, 2026. you want cleaner tax and tariff commentary, not just higher sales.
risk
tariff mitigation progress
management is targeting full mitigation by 2026. if that timeline slips, the margin debate gets louder fast.
metric
fy2026 EPS estimate
currently $3.85. after recent estimate cuts, stability matters more than heroics.
trend
revenue growth vs. valuation
annual revenue grew 4.1%. if that pace slows while the stock still trades at 24.4x trailing earnings, the market may stop being so patient.
Analyst rankings
short-term outlook
below average
momentum score 4 — in human-speak, analysts think this stock may lag from here.
risk profile
average
stability score 3 means typical stock risk — not especially defensive, not especially wild.
chart momentum
average
technical score 3 says the chart is not giving you a strong signal either way.
earnings predictability
55 / 100
That is a reminder that quarterly results can move around more than the brand story alone suggests.
source: institutional data
Institutional activity
132 buyers vs. 148 sellers in 3q2025. total institutional holdings: 35.5M shares.
source: institutional data
Price targets
3-5 year target range
$67
$127
$88
current price
$97
target midpoint · +10% from current · 3-5yr high: $100 (+15% · 5% ann'l return)
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