Is the business good?
How good a business is GOLF?
Acushnet Holdings Corp. earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
13%
Return on invested capital · cost of capital 9.0% · 3.5 points above what the capital costs: growth creates value
- Operating margin
- 12%
Operating margin · Leisure median 11% · 12 months to Q1 2026
- Cash conversion
- 0.52×
Cash conversion · 0.69× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −2.4%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 9.0% |
| FY2021 | 12% |
| FY2022 | 12% |
| FY2023 | 12% |
| FY2024 | 12% |
| FY2025 | 12% |
Details›
- Gross margin12 months to Q1 2026
- 48%
- Operating margin12 months to Q1 2026
- 12%
- Net margin12 months to Q1 2026
- 6.5%
- Free cash flow margin
- 3.4%
- R&D as % of revenue
- 2.9%
- Revenue, trailing twelve months
- $2.61B
- Free cash flow, trailing twelve months
- $89M
- Net income, trailing twelve months
- $171M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.