Explain this page
Arphra AIPlain-English read on Acushnet Holdings Corp.’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
BSolid
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin47.3%
Operating margin11.5%
Net margin7.4%
ROE24.0%
ROA8.0%
ROIC12.8%
Liquidity & leverage
Current ratio2.38×
Quick ratio0.97×
Debt / equity1.37×
Net debt / EBITDA7.17×
Interest coverage3×
Efficiency & per-share
Asset turnover1.09×
Inventory days164
Days sales out.31
FCF / share$2.01
Book value / share$13.12
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | $4.5B | $4.78B | — | — | — |
| Enterprise value | — | — | — | $5.21B | $5.8B | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 2.12 | 2.27 | — | — | — |
| EV / FCF | — | — | — | 30.58 | 48.33 | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | +4.76% | +3.95% | — | — | — |
| Free cash flow yield | — | — | — | +3.79% | +2.51% | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +52.07% | +51.94% | +52.58% | +48.34% | +47.26% | +48.33% | +48.03% | +50.78% |
| Operating margin | +12.10% | +12.40% | +11.98% | +12.38% | +11.54% | +11.88% | +11.73% | +11.74% |
| EBITDA margin | +13.77% | +13.88% | +14.13% | +14.66% | +5.58% | +11.92% | +11.86% | +11.86% |
| EBIT margin | +11.85% | +12.04% | +11.97% | +12.39% | +3.42% | +9.14% | +9.08% | +9.14% |
| Pre-tax margin | +11.54% | +11.43% | +10.14% | +10.16% | +9.36% | +10.14% | +9.63% | +10.01% |
| Net margin | +8.33% | +8.78% | +8.33% | +8.72% | +7.37% | +7.98% | +8.18% | +8.11% |
| Cost structure | ||||||||
| Cost of revenue / sales | +47.93% | +48.06% | +47.42% | +51.66% | +52.83% | +51.94% | +50.40% | +52.08% |
| R&D intensity | +2.58% | +2.48% | +2.72% | +2.76% | +2.99% | +2.85% | +2.78% | +2.89% |
| SG&A intensity | +37.03% | +36.71% | +37.29% | +32.62% | +32.57% | +34.22% | +34.11% | +33.85% |
| Effective tax rate | +25.66% | +20.95% | +17.80% | +19.16% | +21.86% | +19.36% | +20.32% | +18.83% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +16.51% | +20.26% | +21.74% | +26.88% | +24.01% | +23.05% | +24.41% | +23.76% |
| Return on assets (ROA) | +8.92% | +9.08% | +9.03% | +9.83% | +8.05% | +8.55% | +8.86% | +8.74% |
| Return on capital (ROC) | +18.58% | +18.15% | +17.68% | +19.49% | +15.88% | +17.29% | +17.10% | +17.35% |
| Return on invested capital (ROIC) | +12.79% | +12.85% | +12.29% | +13.73% | +10.14% | +11.60% | +11.92% | +11.98% |
| Asset turnover | +107.08% | +103.49% | +108.44% | +112.70% | +109.22% | +107.20% | +108.31% | +107.82% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +8.33% | +8.78% | +8.33% | +8.72% | +7.37% | +7.98% | +8.18% | +8.11% |
| Asset turnover (× revenue / assets) | +107.08% | +103.49% | +108.44% | +112.70% | +109.22% | +107.20% | +108.31% | +107.82% |
| Equity multiplier (× assets / equity) | +185.11% | +223.09% | +240.63% | +273.50% | +298.31% | +269.57% | +275.58% | +271.79% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 1.07 | 1.03 | 1.08 | 1.13 | 1.09 | 1.07 | 1.08 | 1.08 |
| Fixed-asset turnover | 9.27 | 8.92 | 8.07 | 7.54 | 5.31 | — | — | — |
| Inventory turnover | 2.49 | 1.62 | 1.83 | 2.20 | 2.22 | — | — | — |
| Receivables turnover | 12.31 | 10.48 | 11.83 | 11.25 | 11.77 | — | — | — |
| Payables turnover | 6.29 | 6.53 | 7.50 | 8.44 | 8.61 | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 29.64 | 34.84 | 30.85 | 32.44 | 31.02 | — | — | — |
| Days inventory outstanding (DIO) | 146.54 | 225.70 | 198.91 | 165.62 | 164.32 | — | — | — |
| Days payables outstanding (DPO) | 58.01 | 55.86 | 48.64 | 43.22 | 42.39 | — | — | — |
| Cash conversion cycle | 118.17 | 204.67 | 181.13 | 154.83 | 152.95 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 1.76 | -0.34 | 1.87 | 1.14 | 1.03 | 1.42 | 1.38 | 1.38 |
| FCF / Net income | 1.55 | -0.97 | 1.37 | 0.80 | 0.64 | 0.99 | 0.94 | 0.97 |
| FCF margin | +12.87% | -8.55% | +11.39% | +6.94% | +4.69% | +7.88% | +7.69% | +7.83% |
| OCF margin | +14.62% | -2.99% | +15.61% | +9.98% | +7.60% | +11.36% | +11.25% | +11.18% |
| CapEx / Revenue | +1.75% | +5.57% | +4.22% | +3.04% | +2.91% | +3.31% | +3.36% | +3.41% |
| CapEx / D&A | 0.91 | 3.03 | 1.96 | 1.34 | 1.34 | — | — | — |
| Stock-based comp / Revenue | +1.29% | +1.06% | +1.25% | +1.25% | +1.12% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.38 | 2.75 | 2.94 | 3.37 | 3.10 | 3.75 | 4.11 | 4.39 |
| EPS · basic | 2.40 | 2.77 | 2.96 | 3.38 | 3.12 | 3.81 | 4.13 | 4.42 |
| Book value / share | 14.40 | 13.55 | 13.52 | 12.52 | 13.12 | 15.56 | 15.44 | 16.00 |
| Tangible BV / share | 5.42 | 3.21 | 2.22 | 0.85 | 0.03 | 15.56 | 15.44 | 16.00 |
| Sales / share | 28.54 | 31.29 | 35.28 | 38.60 | 42.75 | 44.97 | 46.08 | 46.88 |
| Operating CF / share | 4.17 | -0.93 | 5.51 | 3.85 | 3.25 | 5.11 | 5.19 | 5.24 |
| Free cash flow / share | 3.67 | -2.68 | 4.02 | 2.68 | 2.01 | 3.55 | 3.54 | 3.67 |
| Dividends / share | 0.65 | 0.72 | 0.78 | 0.85 | 0.94 | 1.01 | 1.02 | 1.04 |
| Payout ratio | +27.49% | +26.21% | +26.45% | +25.33% | +29.78% | +28.29% | +27.01% | +27.44% |
| Retention ratio | +72.51% | +73.79% | +73.55% | +74.67% | +70.22% | +71.71% | +72.99% | +72.56% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +5.70% | +4.92% | +3.15% | +4.14% | +4.53% | +2.97% | +2.69% | +4.01% |
| Gross profit · YoY | — | +5.44% | +6.21% | -5.17% | +1.82% | +6.90% | +2.32% | +8.56% | +3.64% |
| Profit | |||||||||
| Operating income · YoY | — | +8.36% | +1.34% | +6.64% | -2.99% | +7.69% | +1.65% | +2.76% | +3.56% |
| EBITDA · YoY | — | +6.54% | +6.80% | +7.04% | -60.36% | +123.24% | +2.44% | +2.70% | +1.81% |
| Net income · YoY | — | +11.41% | -0.43% | +8.00% | -12.02% | +13.15% | +5.56% | +1.81% | +3.61% |
| Operating | |||||||||
| EBIT · YoY | — | +7.42% | +4.31% | +6.71% | -71.25% | +179.46% | +2.20% | +3.37% | +0.21% |
| R&D · YoY | — | +1.91% | +14.98% | +4.63% | +12.77% | -0.49% | +0.42% | +7.04% | +5.75% |
| Per-share | |||||||||
| EPS · diluted · YoY | — | +15.55% | +6.91% | +14.63% | -8.01% | +21.08% | +9.55% | +6.77% | +9.14% |
| EPS · basic · YoY | — | +15.42% | +6.86% | +14.19% | -7.69% | +22.27% | +8.27% | +7.11% | +9.13% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $314.97M | $567.85M | $701.17M | $763.96M | $1.07B | $912.92M | $966.64M | $948.41M |
| Net debt | $33.29M | $508.94M | $635.73M | $710.9M | $1.02B | $852.44M | $903.41M | $885.47M |
| Net debt / EBITDA | 0.11 | 1.61 | 1.89 | 1.97 | 7.17 | 2.67 | 2.77 | 2.64 |
| Debt / equity | 0.29 | 0.58 | 0.77 | 0.96 | 1.37 | 0.99 | 1.05 | 0.98 |
| Debt / assets | +15.70% | +25.88% | +31.92% | +35.04% | +45.81% | +36.59% | +38.01% | +36.16% |
| Equity / assets | +54.02% | +44.82% | +41.56% | +36.56% | +33.52% | +37.10% | +36.29% | +36.79% |
| Coverage | ||||||||
| EBITDA / interest expense | 43.95 | 22.49 | 7.71 | 6.58 | 1.64 | 4.67 | 4.74 | 4.77 |
| Operating income / interest | 38.61 | 20.09 | 6.54 | 5.56 | 3.38 | 4.66 | 4.69 | 4.73 |
| Interest expense | $6.73M | $14.01M | $43.63M | $54.71M | $87.27M | $68.2M | $68.96M | $70.24M |
| Liquidity | ||||||||
| Current ratio | 2.01 | 1.93 | 2.21 | 2.06 | 2.38 | — | — | — |
| Quick ratio | 0.94 | 0.50 | 0.59 | 0.57 | 0.62 | — | — | — |
| Cash ratio | 0.58 | 0.11 | 0.15 | 0.11 | 0.12 | — | — | — |
| Working capital | $486.15M | $510.45M | $545.56M | $501.17M | $595.22M | — | — | — |
| Working capital / revenue | +22.63% | +22.48% | +22.90% | +20.40% | +23.26% | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 2.27x | 2.12x |
| Earnings yield | 3.9% | 4.8% |
| FCF yield | 2.5% | 3.8% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 24.1% | 28.0% |
| ROA | 8.0% | 9.8% |
| ROIC | 11.8% | 14.3% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 2.92 | 1.97 |
| Interest coverage | — | — |
| Current ratio | 2.38x | 2.06x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).