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Acushnet Holdings

DB:163
Snowflake Description

Adequate balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
163
DB
$2B
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The last earnings update was 49 days ago. More info.


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163 Share Price and Events
7 Day Returns
-2%
DB:163
-0.6%
Europe Leisure
-0.4%
DE Market
1 Year Returns
10.4%
DB:163
13.1%
Europe Leisure
-6.2%
DE Market
163 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acushnet Holdings (163) -2% 6.2% 11.5% 10.4% - -
Europe Leisure -0.6% 0.2% 5.8% 13.1% 81.2% 87.5%
DE Market -0.4% 0.7% 1.8% -6.2% 13.9% 7.5%
1 Year Return vs Industry and Market
  • 163 underperformed the Leisure industry which returned 13.1% over the past year.
  • 163 outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
163
Industry
5yr Volatility vs Market

Value

 Is Acushnet Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Acushnet Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Acushnet Holdings.

DB:163 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 12 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:163
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Leisure Unlevered Beta Simply Wall St/ S&P Global 0.94
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.939 (1 + (1- 21%) (28.69%))
1.102
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.102 * 5.96%)
6.8%

Discounted Cash Flow Calculation for DB:163 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Acushnet Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:163 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.8%)
2019 126.75 Analyst x2 118.68
2020 142.33 Analyst x3 124.79
2021 153.95 Est @ 8.16% 126.39
2022 162.84 Est @ 5.78% 125.18
2023 169.54 Est @ 4.11% 122.04
2024 174.54 Est @ 2.95% 117.64
2025 178.27 Est @ 2.13% 112.50
2026 181.05 Est @ 1.56% 106.99
2027 183.15 Est @ 1.16% 101.34
2028 184.76 Est @ 0.88% 95.73
Present value of next 10 years cash flows $1,151.29
DB:163 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $184.76 × (1 + 0.23%) ÷ (6.8% – 0.23%)
$2,819.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,819.27 ÷ (1 + 6.8%)10
$1,460.70
DB:163 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,151.29 + $1,460.70
$2,611.99
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,611.99 / 75.61
$34.55
DB:163 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:163 represents 0.88013x of NYSE:GOLF
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88013x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 34.55 x 0.88013
€30.40
Value per share (EUR) From above. €30.40
Current discount Discount to share price of €22.95
= -1 x (€22.95 - €30.40) / €30.40
24.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Acushnet Holdings is available for.
Intrinsic value
25%
Share price is €22.95 vs Future cash flow value of €30.4
Current Discount Checks
For Acushnet Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Acushnet Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Acushnet Holdings's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Acushnet Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Acushnet Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:163 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.24
NYSE:GOLF Share Price ** NYSE (2019-06-25) in USD $26.07
Europe Leisure Industry PE Ratio Median Figure of 23 Publicly-Listed Leisure Companies 19.75x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Acushnet Holdings.

DB:163 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:GOLF Share Price ÷ EPS (both in USD)

= 26.07 ÷ 1.24

20.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acushnet Holdings is overvalued based on earnings compared to the Europe Leisure industry average.
  • Acushnet Holdings is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Acushnet Holdings's expected growth come at a high price?
Raw Data
DB:163 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.98x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
7.5%per year
Europe Leisure Industry PEG Ratio Median Figure of 12 Publicly-Listed Leisure Companies 1.44x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:163 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.98x ÷ 7.5%

2.81x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acushnet Holdings is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Acushnet Holdings's assets?
Raw Data
DB:163 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $12.08
NYSE:GOLF Share Price * NYSE (2019-06-25) in USD $26.07
Europe Leisure Industry PB Ratio Median Figure of 28 Publicly-Listed Leisure Companies 2.42x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:163 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:GOLF Share Price ÷ Book Value per Share (both in USD)

= 26.07 ÷ 12.08

2.16x

* Primary Listing of Acushnet Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acushnet Holdings is good value based on assets compared to the Europe Leisure industry average.
X
Value checks
We assess Acushnet Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Leisure industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Leisure industry average (and greater than 0)? (1 check)
  5. Acushnet Holdings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Acushnet Holdings expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Acushnet Holdings expected to grow at an attractive rate?
  • Acushnet Holdings's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Acushnet Holdings's earnings growth is positive but not above the Germany market average.
  • Acushnet Holdings's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:163 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:163 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 7.5%
DB:163 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 2.2%
Europe Leisure Industry Earnings Growth Rate Market Cap Weighted Average 14.4%
Europe Leisure Industry Revenue Growth Rate Market Cap Weighted Average 6.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:163 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:163 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 1,725 1
2020-12-31 1,707 184 121 12
2019-12-31 1,669 167 117 12
DB:163 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,626 161 93
2018-12-31 1,634 164 100
2018-09-30 1,642 121 100
2018-06-30 1,619 127 102
2018-03-31 1,568 110 102
2017-12-31 1,560 -27 99
2017-09-30 1,539 -36 84
2017-06-30 1,531 -41 65
2017-03-31 1,566 -25 50
2016-12-31 1,572 104 23
2016-09-30 1,563 104 0
2016-06-30 1,543 111 -8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acushnet Holdings's earnings are expected to grow by 7.5% yearly, however this is not considered high growth (20% yearly).
  • Acushnet Holdings's revenue is expected to grow by 2.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:163 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Acushnet Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:163 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.81 1.81 1.81 1.00
2020-12-31 1.61 1.80 1.44 11.00
2019-12-31 1.54 1.74 1.46 10.00
DB:163 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.24
2018-12-31 1.34
2018-09-30 1.34
2018-06-30 1.37
2018-03-31 1.37
2017-12-31 1.33
2017-09-30 1.19
2017-06-30 1.13
2017-03-31 1.12
2016-12-31 0.74
2016-09-30 0.02
2016-06-30 -0.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Acushnet Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Acushnet Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Acushnet Holdings has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Acushnet Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Acushnet Holdings's growth in the last year to its industry (Leisure).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Acushnet Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • Acushnet Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Acushnet Holdings's 1-year earnings growth is negative, it can't be compared to the Europe Leisure industry average.
Earnings and Revenue History
Acushnet Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Acushnet Holdings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:163 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,625.62 93.31 620.10 51.85
2018-12-31 1,633.72 99.87 616.30 51.49
2018-09-30 1,641.76 100.12 614.26 51.14
2018-06-30 1,618.59 102.38 603.45 49.13
2018-03-31 1,568.44 102.07 585.17 47.13
2017-12-31 1,560.26 98.70 581.81 47.24
2017-09-30 1,538.63 83.54 586.94 48.62
2017-06-30 1,530.68 65.23 586.81 50.31
2017-03-31 1,565.96 49.80 593.48 50.18
2016-12-31 1,572.28 23.19 601.76 48.13
2016-09-30 1,562.73 0.42 603.20 47.25
2016-06-30 1,543.28 -8.01 604.45 46.17
2016-03-31 1,526.60 -9.28 605.61 46.09
2015-12-31 1,502.96 -14.75 604.02 45.98
2014-12-31 1,537.61 3.91 602.76 44.24
2013-12-31 1,477.22 2.63 568.42 42.15

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Acushnet Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Acushnet Holdings used its assets less efficiently than the Europe Leisure industry average last year based on Return on Assets.
  • Acushnet Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Acushnet Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Leisure industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Acushnet Holdings has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Acushnet Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Acushnet Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Acushnet Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Acushnet Holdings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Acushnet Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Acushnet Holdings Company Filings, last reported 2 months ago.

DB:163 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 946.64 517.53 42.88
2018-12-31 926.98 384.95 29.01
2018-09-30 913.59 405.93 55.89
2018-06-30 907.17 444.52 45.48
2018-03-31 886.07 573.20 45.97
2017-12-31 853.97 464.05 45.42
2017-09-30 842.67 463.80 69.79
2017-06-30 831.28 530.87 77.70
2017-03-31 800.88 630.49 69.54
2016-12-31 768.82 409.59 76.04
2016-09-30 421.52 748.28 85.67
2016-06-30 369.41 815.64 75.78
2016-03-31 347.52 945.95 65.72
2015-12-31 324.54 836.22 54.41
2014-12-31 319.96 905.34 47.67
2013-12-31
  • Acushnet Holdings's level of debt (54.7%) compared to net worth is high (greater than 40%).
  • Unable to establish if Acushnet Holdings's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (31%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.4x coverage).
X
Financial health checks
We assess Acushnet Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Acushnet Holdings has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Acushnet Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.15%
Current annual income from Acushnet Holdings dividends. Estimated to be 2.27% next year.
If you bought €2,000 of Acushnet Holdings shares you are expected to receive €43 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Acushnet Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Acushnet Holdings's dividend is below the markets top 25% of dividend payers in Germany (3.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:163 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Europe Leisure Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 2.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:163 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.62 1.00
2020-12-31 0.61 5.00
2019-12-31 0.56 5.00
DB:163 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.560 2.242
2019-02-28 0.560 2.322
2018-11-01 0.520 2.245
2018-08-02 0.520 1.995
2018-05-03 0.520 2.155
2018-03-07 0.520 2.204
2017-11-08 0.480 2.345
2017-08-11 0.480 2.780
2017-04-04 0.480 2.562
2017-03-30 0.480 2.790
2017-03-22 0.480 2.738

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Acushnet Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Acushnet Holdings only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of Acushnet Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Acushnet Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Acushnet Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Acushnet Holdings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Acushnet Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Maher
COMPENSATION $4,812,122
AGE 50
TENURE AS CEO 1.4 years
CEO Bio

Mr. David E. Maher has been the Chief Executive Officer and President of Acushnet Holdings Corp. since January 1, 2018 and its Director since March 29, 2018. Mr. Maher served as Chief Operating Officer of Acushnet Holdings Corp. since June 2016 until December 31, 2017. He joined Acushnet Holdings Corp. in 1991. Prior to that, Mr. Maher served as Senior Vice President of Titleist Worldwide Sales and Global Operations from February 2016 to June 2016 and Vice President, Titleist U.S. Sales from 2001 to January 2016.

CEO Compensation
  • David's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • David's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Acushnet Holdings management team in years:

1.5
Average Tenure
49
Average Age
  • The average tenure for the Acushnet Holdings management team is less than 2 years, this suggests a new team.
Management Team

David Maher

TITLE
President
COMPENSATION
$5M
AGE
50
TENURE
1.4 yrs

Brendan Gibbons

TITLE
Executive VP
COMPENSATION
$891K
AGE
42
TENURE
1.5 yrs

Chris Lindner

TITLE
President of FootJoy
COMPENSATION
$1M
AGE
49
TENURE
2.8 yrs

Wally Uihlein

TITLE
Director & Advisor to the Chairman
COMPENSATION
$170K
AGE
69
TENURE
1.4 yrs

Thomas Pacheco

TITLE
Executive VP
AGE
49
TENURE
0.4 yrs

Tony Takazawa

TITLE
Vice President of Investor Relations

Brendan Reidy

TITLE
Senior VP & Chief Human Resources Officer
AGE
40
TENURE
0.4 yrs

Mary Bohn

TITLE
President of Titleist Golf Balls
AGE
57
TENURE
3 yrs

Steve Pelisek

TITLE
President of Titleist Golf Clubs
AGE
57
TENURE
3.3 yrs

Jay Duke

TITLE
President of Titleist Golf Gear
AGE
49
TENURE
5.4 yrs
Board of Directors Tenure

Average tenure and age of the Acushnet Holdings board of directors in years:

2.7
Average Tenure
57
Average Age
  • The average tenure for the Acushnet Holdings board of directors is less than 3 years, this suggests a new board.
Board of Directors

Gene Yoon

TITLE
Chairman of the Board
COMPENSATION
$250K
AGE
72
TENURE
8.4 yrs

David Maher

TITLE
President
COMPENSATION
$5M
AGE
50
TENURE
1.3 yrs

Jennifer Estabrook

TITLE
Director
COMPENSATION
$195K
AGE
57
TENURE
2.7 yrs

Sean Sullivan

TITLE
Director
COMPENSATION
$195K
AGE
51
TENURE
2.7 yrs

Norm Wesley

TITLE
Director
COMPENSATION
$179K
AGE
68
TENURE
2.7 yrs

Wally Uihlein

TITLE
Director & Advisor to the Chairman
COMPENSATION
$170K
AGE
69
TENURE
2.7 yrs

Kevin Yoon

TITLE
Director
AGE
43
TENURE
0.2 yrs

Greg Hewett

TITLE
Director
COMPENSATION
$192K
AGE
49
TENURE
2.7 yrs

Steven Tishman

TITLE
Director
COMPENSATION
$190K
AGE
61
TENURE
2.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Acushnet Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Acushnet Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. The Titleist Golf Balls segment offers golf balls, such as Pro V1, Pro V1x, AVX, Tour Soft, Velocity, DT TruSoft, and Pinnacle golf balls, as well as provides custom imprinted golf balls with corporate logos, tournament logos, country club or resort logos, and personalization on Titleist and Pinnacle golf balls. The Titleist Golf Clubs segment designs, assembles, and sells golf clubs, such as drivers, fairways, hybrids, and irons under the Titleist brand; wedges under the Vokey Design brand; and putters under Scotty Cameron brand. The Titleist Golf Gear segment designs and develops golf bags, headwear, golf gloves, travel gears, head covers, and other golf gears, as well as offers customization and personalization of products in Titleist golf gear. The FootJoy Golf Wear segment provides shoes, such as traditional, spikeless, athletic, and casual shoes; gloves that include leather construction, synthetic, leather/synthetic combination, and specialty gloves; and outerwear and apparels, such as performance outerwear, performance golf apparels, and golf leisure women apparels. It sells its products through golf shops and golf specialty retailers, as well as through representatives, other qualified retailers, and online. The company was formerly known as Alexandria Holdings Corp. and changed its name to Acushnet Holdings Corp. in March 2016. Acushnet Holdings Corp. was founded in 1910 and is headquartered in Fairhaven, Massachusetts.

Details
Name: Acushnet Holdings Corp.
163
Exchange: DB
Founded: 1910
$1,731,434,471
75,608,862
Website: http://www.acushnetholdingscorp.com
Address: Acushnet Holdings Corp.
333 Bridge Street,
Fairhaven,
Massachusetts, 02719,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE GOLF Common Stock New York Stock Exchange US USD 28. Oct 2016
DB 163 Common Stock Deutsche Boerse AG DE EUR 28. Oct 2016
Number of employees
Current staff
Staff numbers
5,209
Acushnet Holdings employees.
Industry
Leisure Products
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 04:06
End of day share price update: 2019/06/25 00:00
Last estimates confirmation: 2019/06/03
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.