ACUSHNET HOLDINGS CORP (GOLF) Stock Fundamental Analysis
NYSE:GOLF - US0050981085 - Common Stock
78.02 USD
-2.26 (-2.82%)
78.02 USD
0 (0%)
We assign a fundamental rating of 5 out of 10 to GOLF. GOLF was compared to 31 industry peers in the Leisure Products industry. GOLF has an excellent profitability rating, but there are some minor concerns on its financial health. GOLF has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
GOLF had positive earnings in the past year.
GOLF had a positive operating cash flow in the past year.
In the past 5 years GOLF has always been profitable.
Of the past 5 years GOLF 4 years had a positive operating cash flow.
1.2 Ratios
GOLF's Return On Assets of 9.60% is amongst the best of the industry. GOLF outperforms 93.55% of its industry peers.
With an excellent Return On Equity value of 28.45%, GOLF belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
GOLF's Return On Invested Capital of 12.92% is amongst the best of the industry. GOLF outperforms 90.32% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GOLF is significantly above the industry average of 7.51%.
| 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
The Profit Margin of GOLF (9.24%) is better than 93.55% of its industry peers.
In the last couple of years the Profit Margin of GOLF has grown nicely.
GOLF has a Operating Margin of 12.10%. This is amongst the best in the industry. GOLF outperforms 90.32% of its industry peers.
In the last couple of years the Operating Margin of GOLF has grown nicely.
With a decent Gross Margin value of 45.37%, GOLF is doing good in the industry, outperforming 77.42% of the companies in the same industry.
GOLF's Gross Margin has been stable in the last couple of years.
| 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
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), GOLF is creating some value.
Compared to 1 year ago, GOLF has more shares outstanding
Compared to 5 years ago, GOLF has less shares outstanding
Compared to 1 year ago, GOLF has a worse debt to assets ratio.
2.2 Solvency
GOLF has an Altman-Z score of 3.69. This indicates that GOLF is financially healthy and has little risk of bankruptcy at the moment.
With a decent Altman-Z score value of 3.69, GOLF is doing good in the industry, outperforming 64.52% of the companies in the same industry.
The Debt to FCF ratio of GOLF is 9.62, which is on the high side as it means it would take GOLF, 9.62 years of fcf income to pay off all of its debts.
GOLF has a Debt to FCF ratio (9.62) which is comparable to the rest of the industry.
A Debt/Equity ratio of 1.15 is on the high side and indicates that GOLF has dependencies on debt financing.
GOLF has a Debt to Equity ratio of 1.15. This is in the lower half of the industry: GOLF underperforms 77.42% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 9.62 | ||
| Altman-Z | 3.69 |
ROIC/WACC1.4
WACC9.21%
2.3 Liquidity
GOLF has a Current Ratio of 2.25. This indicates that GOLF is financially healthy and has no problem in meeting its short term obligations.
GOLF has a Current ratio (2.25) which is in line with its industry peers.
A Quick Ratio of 1.21 indicates that GOLF should not have too much problems paying its short term obligations.
GOLF has a Quick ratio of 1.21. This is in the lower half of the industry: GOLF underperforms 67.74% 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.
The Earnings Per Share has been growing by 15.79% on average over the past years. This is quite good.
The Revenue has been growing slightly by 3.83% in the past year.
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 Y7.05%
EPS Next 2Y4.94%
EPS Next 3Y5.97%
EPS Next 5YN/A
Revenue Next Year1.87%
Revenue Next 2Y2.22%
Revenue Next 3Y2.82%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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
With a Price/Earnings ratio of 20.86, GOLF is valued on the expensive side.
Based on the Price/Earnings ratio, GOLF is valued a bit cheaper than the industry average as 74.19% of the companies are valued more expensively.
GOLF is valuated rather cheaply when we compare the Price/Earnings ratio to 27.14, which is the current average of the S&P500 Index.
GOLF is valuated rather expensively with a Price/Forward Earnings ratio of 21.28.
61.29% of the companies in the same industry are more expensive than GOLF, based on the Price/Forward Earnings ratio.
GOLF's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 22.80.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.86 | ||
| Fwd PE | 21.28 |
4.2 Price Multiples
GOLF's Enterprise Value to EBITDA is on the same level as the industry average.
GOLF's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 47.21 | ||
| EV/EBITDA | 15.51 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates GOLF does not grow enough to justify the current Price/Earnings ratio.
GOLF has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.96
PEG (5Y)1.32
EPS Next 2Y4.94%
EPS Next 3Y5.97%
5. Dividend
5.1 Amount
GOLF has a Yearly Dividend Yield of 1.22%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 4.19, GOLF pays a bit more dividend than its industry peers.
With a Dividend Yield of 1.22, GOLF pays less dividend than the S&P500 average, which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.22% |
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.
GOLF has not decreased its dividend in the past 5 years, so it has a somewhat stable track record.
Dividend Growth(5Y)10.12%
Div Incr Years7
Div Non Decr Years7
5.3 Sustainability
GOLF pays out 23.84% of its income as dividend. This is a sustainable payout ratio.
GOLF's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP23.84%
EPS Next 2Y4.94%
EPS Next 3Y5.97%
78.02
-2.26 (-2.82%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryLeisure Products
Earnings (Last)
Earnings (Next)
Inst Owners66.13%
Inst Owner Change-5.97%
Ins Owners2.89%
Ins Owner Change2.56%
Market Cap4.58B
Analysts51.67
Price Target78.95 (1.19%)
Short Float %17.45%
Short Ratio12.12
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.22% |
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)10.31%
PT rev (3m)12.72%
EPS NQ rev (1m)3.81%
EPS NQ rev (3m)-6.73%
EPS NY rev (1m)0.06%
EPS NY rev (3m)-0.39%
Revenue NQ rev (1m)0.15%
Revenue NQ rev (3m)-0.3%
Revenue NY rev (1m)0.35%
Revenue NY rev (3m)0.35%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.86 | ||
| Fwd PE | 21.28 | ||
| P/S | 1.84 | ||
| P/FCF | 47.21 | ||
| P/OCF | 26.21 | ||
| P/B | 5.66 | ||
| P/tB | 69.02 | ||
| EV/EBITDA | 15.51 |
EPS(TTM)3.74
EY4.79%
EPS(NY)3.67
Fwd EY4.7%
FCF(TTM)1.65
FCFY2.12%
OCF(TTM)2.98
OCFY3.81%
SpS42.44
BVpS13.78
TBVpS1.13
PEG (NY)2.96
PEG (5Y)1.32
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 | 3.69 |
F-Score4
WACC9.21%
ROIC/WACC1.4
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 Y7.05%
EPS Next 2Y4.94%
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 Year1.87%
Revenue Next 2Y2.22%
Revenue Next 3Y2.82%
Revenue Next 5YN/A
EBIT growth 1Y7.1%
EBIT growth 3Y6.31%
EBIT growth 5Y10.97%
EBIT Next Year31.79%
EBIT Next 3Y12.82%
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%