ACUSHNET HOLDINGS CORP (GOLF) Stock Fundamental Analysis
USA - NYSE:GOLF - US0050981085 - Common Stock
80.28 USD
-0.66 (-0.82%)
80.28 USD
0 (0%)
GOLF gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 33 industry peers in the Leisure Products industry. While GOLF has a great profitability rating, there are some minor concerns on its financial health. GOLF has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year GOLF was profitable.
In the past year GOLF had a positive cash flow from operations.
In the past 5 years GOLF has always been profitable.
GOLF had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
With an excellent Return On Assets value of 9.60%, GOLF belongs to the best of the industry, outperforming 93.94% of the companies in the same industry.
The Return On Equity of GOLF (28.45%) is better than 100.00% of its industry peers.
The Return On Invested Capital of GOLF (12.92%) is better than 90.91% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GOLF is significantly above the industry average of 7.26%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.6% | ||
| ROE | 28.45% | ||
| ROIC | 12.92% |
ROA(3y)9.32%
ROA(5y)8.4%
ROE(3y)24.07%
ROE(5y)19.82%
ROIC(3y)14.1%
ROIC(5y)12.99%
1.3 Margins
GOLF has a Profit Margin of 9.24%. This is amongst the best in the industry. GOLF outperforms 93.94% of its industry peers.
In the last couple of years the Profit Margin of GOLF has grown nicely.
With an excellent Operating Margin value of 12.10%, GOLF belongs to the best of the industry, outperforming 87.88% of the companies in the same industry.
GOLF's Operating Margin has improved in the last couple of years.
GOLF's Gross Margin of 45.37% is fine compared to the rest of the industry. GOLF outperforms 69.70% of its industry peers.
In the last couple of years the Gross Margin of GOLF has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 12.1% | ||
| PM (TTM) | 9.24% | ||
| GM | 45.37% |
OM growth 3Y1.65%
OM growth 5Y2.86%
PM growth 3Y1.55%
PM growth 5Y3.9%
GM growth 3Y-2.45%
GM growth 5Y-1.4%
2. Health
2.1 Basic Checks
GOLF has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
The number of shares outstanding for GOLF has been increased compared to 1 year ago.
The number of shares outstanding for GOLF has been reduced compared to 5 years ago.
GOLF has a worse debt/assets ratio than last year.
2.2 Solvency
GOLF has an Altman-Z score of 3.70. This indicates that GOLF is financially healthy and has little risk of bankruptcy at the moment.
GOLF has a Altman-Z score of 3.70. This is in the better half of the industry: GOLF outperforms 63.64% of its industry peers.
GOLF has a debt to FCF ratio of 9.62. This is a negative value and a sign of low solvency as GOLF would need 9.62 years to pay back of all of its debts.
GOLF has a Debt to FCF ratio (9.62) which is in line with its industry peers.
A Debt/Equity ratio of 1.15 is on the high side and indicates that GOLF has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.15, GOLF is doing worse than 75.76% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 9.62 | ||
| Altman-Z | 3.7 |
ROIC/WACC0.89
WACC14.45%
2.3 Liquidity
A Current Ratio of 2.25 indicates that GOLF has no problem at all paying its short term obligations.
GOLF has a Current ratio (2.25) which is in line with its industry peers.
GOLF has a Quick Ratio of 1.21. This is a normal value and indicates that GOLF is financially healthy and should not expect problems in meeting its short term obligations.
GOLF has a Quick ratio of 1.21. This is in the lower half of the industry: GOLF underperforms 63.64% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.25 | ||
| Quick Ratio | 1.21 |
3. Growth
3.1 Past
GOLF shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 28.97%, which is quite impressive.
Measured over the past years, GOLF shows a quite strong growth in Earnings Per Share. The EPS has been growing by 15.79% on average per year.
GOLF shows a small growth in Revenue. In the last year, the Revenue has grown by 3.83%.
Measured over the past years, GOLF shows a small growth in Revenue. The Revenue has been growing by 7.88% on average per year.
EPS 1Y (TTM)28.97%
EPS 3Y12%
EPS 5Y15.79%
EPS Q2Q%12.61%
Revenue 1Y (TTM)3.83%
Revenue growth 3Y4.58%
Revenue growth 5Y7.88%
Sales Q2Q%5.35%
3.2 Future
Based on estimates for the next years, GOLF will show a small growth in Earnings Per Share. The EPS will grow by 5.97% on average per year.
Based on estimates for the next years, GOLF will show a small growth in Revenue. The Revenue will grow by 2.82% on average per year.
EPS Next Y6.39%
EPS Next 2Y5.13%
EPS Next 3Y5.97%
EPS Next 5YN/A
Revenue Next Year1.91%
Revenue Next 2Y2.12%
Revenue Next 3Y2.82%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 21.47, which indicates a rather expensive current valuation of GOLF.
Based on the Price/Earnings ratio, GOLF is valued a bit cheaper than 69.70% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.76, GOLF is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 21.81, the valuation of GOLF can be described as rather expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GOLF indicates a somewhat cheap valuation: GOLF is cheaper than 60.61% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.21, GOLF is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.47 | ||
| Fwd PE | 21.81 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of GOLF is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of GOLF is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 48.58 | ||
| EV/EBITDA | 15.61 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
GOLF has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)3.36
PEG (5Y)1.36
EPS Next 2Y5.13%
EPS Next 3Y5.97%
5. Dividend
5.1 Amount
GOLF has a Yearly Dividend Yield of 1.17%.
GOLF's Dividend Yield is a higher than the industry average which is at 3.96.
With a Dividend Yield of 1.17, GOLF pays less dividend than the S&P500 average, which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.17% |
5.2 History
On average, the dividend of GOLF grows each year by 10.12%, which is quite nice.
GOLF has been paying a dividend for over 5 years, so it has already some track record.
As GOLF did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)10.12%
Div Incr Years7
Div Non Decr Years7
5.3 Sustainability
23.84% of the earnings are spent on dividend by GOLF. This is a low number and sustainable payout ratio.
The dividend of GOLF is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP23.84%
EPS Next 2Y5.13%
EPS Next 3Y5.97%
80.28
-0.66 (-0.82%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryLeisure Products
Earnings (Last)
Earnings (Next)
Inst Owners62.19%
Inst Owner Change0%
Ins Owners2.87%
Ins Owner Change-0.83%
Market Cap4.71B
Analysts51.67
Price Target82.62 (2.91%)
Short Float %16.57%
Short Ratio11.84
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.17% |
Yearly Dividend0.94
Dividend Growth(5Y)10.12%
DP23.84%
Div Incr Years7
Div Non Decr Years7
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)7.37%
Min EPS beat(2)-6.31%
Max EPS beat(2)21.05%
EPS beat(4)3
Avg EPS beat(4)29.87%
Min EPS beat(4)-6.31%
Max EPS beat(4)94.09%
EPS beat(8)5
Avg EPS beat(8)20.02%
EPS beat(12)9
Avg EPS beat(12)26.56%
EPS beat(16)12
Avg EPS beat(16)36.4%
Revenue beat(2)0
Avg Revenue beat(2)-1.48%
Min Revenue beat(2)-1.78%
Max Revenue beat(2)-1.17%
Revenue beat(4)0
Avg Revenue beat(4)-2.23%
Min Revenue beat(4)-4.04%
Max Revenue beat(4)-1.17%
Revenue beat(8)2
Avg Revenue beat(8)-2.14%
Revenue beat(12)6
Avg Revenue beat(12)-0.06%
Revenue beat(16)10
Avg Revenue beat(16)2.83%
PT rev (1m)4.65%
PT rev (3m)16.83%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.04%
EPS NY rev (1m)-0.62%
EPS NY rev (3m)-1%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.04%
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)0.39%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.47 | ||
| Fwd PE | 21.81 | ||
| P/S | 1.89 | ||
| P/FCF | 48.58 | ||
| P/OCF | 26.97 | ||
| P/B | 5.82 | ||
| P/tB | 71.02 | ||
| EV/EBITDA | 15.61 |
EPS(TTM)3.74
EY4.66%
EPS(NY)3.68
Fwd EY4.58%
FCF(TTM)1.65
FCFY2.06%
OCF(TTM)2.98
OCFY3.71%
SpS42.44
BVpS13.78
TBVpS1.13
PEG (NY)3.36
PEG (5Y)1.36
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 9.6% | ||
| ROE | 28.45% | ||
| ROCE | 16.02% | ||
| ROIC | 12.92% | ||
| ROICexc | 13.34% | ||
| ROICexgc | 22.35% | ||
| OM | 12.1% | ||
| PM (TTM) | 9.24% | ||
| GM | 45.37% | ||
| FCFM | 3.89% |
ROA(3y)9.32%
ROA(5y)8.4%
ROE(3y)24.07%
ROE(5y)19.82%
ROIC(3y)14.1%
ROIC(5y)12.99%
ROICexc(3y)14.44%
ROICexc(5y)14.02%
ROICexgc(3y)26.09%
ROICexgc(5y)27.09%
ROCE(3y)17.56%
ROCE(5y)16.1%
ROICexcg growth 3Y-11.31%
ROICexcg growth 5Y6.23%
ROICexc growth 3Y-4.59%
ROICexc growth 5Y7.69%
OM growth 3Y1.65%
OM growth 5Y2.86%
PM growth 3Y1.55%
PM growth 5Y3.9%
GM growth 3Y-2.45%
GM growth 5Y-1.4%
F-Score4
Asset Turnover1.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 9.62 | ||
| Debt/EBITDA | 2.6 | ||
| Cap/Depr | 135.43% | ||
| Cap/Sales | 3.12% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 48.69% | ||
| Profit Quality | 42.14% | ||
| Current Ratio | 2.25 | ||
| Quick Ratio | 1.21 | ||
| Altman-Z | 3.7 |
F-Score4
WACC14.45%
ROIC/WACC0.89
Cap/Depr(3y)210.84%
Cap/Depr(5y)156.63%
Cap/Sales(3y)4.28%
Cap/Sales(5y)3.22%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)28.97%
EPS 3Y12%
EPS 5Y15.79%
EPS Q2Q%12.61%
EPS Next Y6.39%
EPS Next 2Y5.13%
EPS Next 3Y5.97%
EPS Next 5YN/A
Revenue 1Y (TTM)3.83%
Revenue growth 3Y4.58%
Revenue growth 5Y7.88%
Sales Q2Q%5.35%
Revenue Next Year1.91%
Revenue Next 2Y2.12%
Revenue Next 3Y2.82%
Revenue Next 5YN/A
EBIT growth 1Y7.1%
EBIT growth 3Y6.31%
EBIT growth 5Y10.97%
EBIT Next Year33.51%
EBIT Next 3Y14.13%
EBIT Next 5YN/A
FCF growth 1Y705.87%
FCF growth 3Y-14.89%
FCF growth 5Y10.97%
OCF growth 1Y22.61%
OCF growth 3Y-7.93%
OCF growth 5Y12.79%