Acushnet Holdings
GOLFNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $85.03 Prior regular-session close from the quote source.
- $83.74–$85.09 Regular-session low and high so far today.
- 329.5K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $76.96–$119.65 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own GOLF if rounds played, premium retail channels, and pricing persist.
GOLF price history
Loading recent earnings…
Investment thesis
What must happen next
Pro‑tour validation and century‑long brand equity (Titleist/FootJoy) create pricing power and a durable product premium that preserves unit economics and supports stable gross margins as sales grow.StrengtheningMateriality: High
Gross profit rose each year from $1,048,689,000 (2022) → $1,120,037,000 (2023) → $1,187,727,000 (2024) → $1,221,254,000 (2025). If true, revenue growth translates into predictable gross profit and supports reinvestment and shareholder returns; if false, competition forces price/mix erosion and margin decline.
Watch: A major competitor (e.g., TaylorMade/Callaway/Bridgestone) wins clear performance trials with pros and amateurs causing visible share shift on leaderboards and in custom fittings prior to revenue impact.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross profit rose each year from $1,048,689,000 (2022) → $1,120,037,000 (2023) → $1,187,727,000 (2024) → $1,221,254,000 (2025).
Open source ↗Because consumables (golf balls and gloves) are a large, repeat purchase base (~40% of sales) and demand correlates with rounds played, modest secular growth in rounds converts into steady revenue growth and predictable reorder cadence.StrengtheningMateriality: High
Revenue has grown each year: $2,270,336,000 (2022) → $2,381,995,000 (2023) → $2,457,091,000 (2024) → $2,558,730,000 (2025). If rounds and dedicated‑golfer participation remain resilient, Acushnet’s top line will continue to grow with relatively low customer acquisition cost; if participation falls, consumables demand drops quickly and revenue is exposed to cyclicality.
Watch: A sustained decline in rounds played (macro recession, sustained participation drop, or prolonged adverse weather) that precedes revenue declines.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Revenue has grown each year: $2,270,336,000 (2022) → $2,381,995,000 (2023) → $2,457,091,000 (2024) → $2,558,730,000 (2025).
Open source ↗Seasonality and working capital create material volatility in operating cash flow; if Acushnet cannot improve cash conversion, its ability to fund buybacks/dividends or weather downturns is constrained despite GAAP profits.HoldingMateriality: Medium
Operating cash flow has been volatile: -$67,787,000 (2022) → $371,827,000 (2023) → $245,108,000 (2024) → $194,370,000 (2025). Persistent weak or volatile operating cash flow reduces intrinsic value and makes the premium multiple vulnerable even if GAAP earnings remain steady.
Watch: A structural change in channel terms (e.g., retailers demanding longer payables or larger inventory holdings) that forces higher working capital before revenue shows stress.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow has been volatile: -$67,787,000 (2022) → $371,827,000 (2023) → $245,108,000 (2024) → $194,370,000 (2025).
Open source ↗
Full investment case & evidence
Loading the original research archive…
Original research
Pro‑tour validation and century‑long brand equity (Titleist/FootJoy) create pricing power and a durable product premium that preserves unit economics and supports stable gross margins as sales grow. If true, revenue growth translates into predictable gross profit and supports reinvestment and shareholder returns; if false, competition forces price/mix erosion and margin decline.
Because consumables (golf balls and gloves) are a large, repeat purchase base (~40% of sales) and demand correlates with rounds played, modest secular growth in rounds converts into steady revenue growth and predictable reorder cadence. If rounds and dedicated‑golfer participation remain resilient, Acushnet’s top line will continue to grow with relatively low customer acquisition cost; if participation falls, consumables demand drops quickly and revenue is exposed to cyclicality.
Seasonality and working capital create material volatility in operating cash flow; if Acushnet cannot improve cash conversion, its ability to fund buybacks/dividends or weather downturns is constrained despite GAAP profits. Persistent weak or volatile operating cash flow reduces intrinsic value and makes the premium multiple vulnerable even if GAAP earnings remain steady.
All standing thesis claims
Original report summary
rounds played, premium retail channels, and pricing persist.
Bull case and bear case
Bull case and bear case for Acushnet Holdings
Where the evidence on Acushnet Holdings stands: Holding on the latest evidence (Nov 7, 2026). Of its 3 thesis points, 2 strengthening and 1 holding.
Bull case: what the evidence supports
Pro‑tour validation and century‑long brand equity (Titleist/FootJoy) create pricing power and a durable product premium that preserves unit economics and supports stable gross margins as sales grow.
Because consumables (golf balls and gloves) are a large, repeat purchase base (~40% of sales) and demand correlates with rounds played, modest secular growth in rounds converts into steady revenue growth and predictable reorder cadence.
Seasonality and working capital create material volatility in operating cash flow; if Acushnet cannot improve cash conversion, its ability to fund buybacks/dividends or weather downturns is constrained despite GAAP profits.
Bear case: what would count against it
A major competitor (e.g., TaylorMade/Callaway/Bridgestone) wins clear performance trials with pros and amateurs causing visible share shift on leaderboards and in custom fittings prior to revenue impact.
A sustained decline in rounds played (macro recession, sustained participation drop, or prolonged adverse weather) that precedes revenue declines.
A structural change in channel terms (e.g., retailers demanding longer payables or larger inventory holdings) that forces higher working capital before revenue shows stress.
Thesis-Break Engine
Thesis-break watch · Acushnet Holdings
Loading the break-condition record for Acushnet Holdings.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Acushnet Holdings filed an SEC 8-K on 2026-11-04: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Acushnet Holdings filed an SEC 8-K on 2026-08-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Acushnet Holdings filed an SEC 8-K on 2026-06-08: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- A major competitor (e.g., TaylorMade/Callaway/Bridgestone) wins clear performance trials with pros and amateurs causing visible share shift on leaderboards and in custom fittings prior to revenue impact.
- A sustained decline in rounds played (macro recession, sustained participation drop, or prolonged adverse weather) that precedes revenue declines.
- A structural change in channel terms (e.g., retailers demanding longer payables or larger inventory holdings) that forces higher working capital before revenue shows stress.
GOLF news
Loading headlines…
Financial statements
GOLF income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
GOLF: quick answers
- Have members of Congress traded GOLF?
- Reports made public in the last 90 days disclose 1 trade in GOLF by 1 filer: 0 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed GOLF trade
- Which well-known investors own GOLF?
- 1 of the 37 well-known funds tracked here reported GOLF shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
GOLF in well-known investors’ portfolios
1 of 37 funds reported GOLF shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.01% | $2.0M | New | Q2 2026 |