Company Valuation: Acushnet Holdings Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,908 2,981 4,130 4,322 4,682 5,074 - -
Change - -23.72% 38.54% 4.65% 8.34% 8.37% - -
Enterprise Value (EV) 1 3,942 3,490 4,766 5,033 5,575 5,872 5,821 5,660
Change - -11.46% 36.55% 5.61% 10.78% 5.33% -0.86% -2.78%
P/E 22.3x 15.4x 21.5x 21.1x 25.7x 21.5x 20.9x 19.5x
PBR 3.69x 3.43x 4.64x 5.89x 5.95x 5.81x 4.99x 4.28x
PEG - 1x 3.11x 1.4x -3.33x 0.7x 7.13x 2.79x
Capitalization / Revenue 1.82x 1.31x 1.73x 1.76x 1.83x 1.9x 1.84x 1.78x
EV / Revenue 1.84x 1.54x 2x 2.05x 2.18x 2.2x 2.11x 1.99x
EV / EBITDA 12x 10.3x 12.7x 12.4x 13.6x 12.6x 12.6x 11.1x
EV / EBIT 15.2x 12.4x 16.7x 16.5x 18.6x 16x 16x 14.8x
EV / FCF 14.3x -27x 16.1x 29.5x 46.4x 26.4x 26.5x 20.7x
FCF Yield 7.02% -3.7% 6.22% 3.39% 2.15% 3.78% 3.77% 4.82%
Dividend per Share 2 0.66 0.72 0.78 0.86 0.94 0.9422 0.9744 1.042
Rate of return 1.24% 1.7% 1.23% 1.21% 1.18% 1.08% 1.12% 1.2%
EPS 2 2.38 2.75 2.94 3.37 3.11 4.04 4.158 4.449
Distribution rate 27.7% 26.2% 26.5% 25.5% 30.2% 23.3% 23.4% 23.4%
Net sales 1 2,148 2,270 2,382 2,457 2,559 2,671 2,757 2,850
EBITDA 1 328.3 338.4 376.1 404.4 410.4 465.9 461.1 510.5
EBIT 1 259.8 281.5 285.3 304.3 299.4 366.4 364.8 382.3
Net income 1 178.9 199.3 198.4 214.3 188.5 242 243.4 255.1
Net Debt 1 33.29 508.9 635.7 710.9 892.8 798 747.2 585.6
Reference price 2 53.08 42.46 63.17 71.08 79.82 86.88 86.88 86.88
Nbr of stocks (in thousands) 73,630 70,209 65,378 60,803 58,661 58,405 - -
Announcement Date 3/1/22 3/1/23 2/29/24 2/27/25 2/26/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.51x2.2x12.6x1.08% 5.07B
19.4x2.05x8.73x3.6% 4.2B
21.23x2.2x10.61x3.15% 3.01B
27.23x1.24x9.94x-.--% 2.84B
17.24x0.75x3.55x-.--% 2.37B
15.77x1.05x9.53x1.6% 2.01B
15.9x1.11x9.15x1.09% 1.41B
9.68x0.8x6.51x - 1.2B
46.78x12.51x29.71x1.57% 1.09B
74.24x1.69x9.02x-.--% 835M
Average 26.90x 2.56x 10.93x 1.34% 2.4B
Weighted average by Cap. 22.93x 2.14x 10.35x 1.6%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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