Acushnet (GOLF)
Market Price (10/6/2026): $83.39 | Market Cap: $5.0 BilSector: Consumer Discretionary | Industry: Leisure Products
Acushnet (GOLF)
Market Price (10/6/2026): $83.39Market Cap: $5.0 BilSector: Consumer DiscretionaryIndustry: Leisure Products
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6% Low stock price volatilityVol 12M is 29% Megatrend and thematic driversMegatrends include Sports & Outdoor Recreation, Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Premium Sports Equipment, Show more. | Weak multi-year price returns2Y Excs Rtn is -0.9%, 3Y Excs Rtn is -16% | Key risksGOLF key risks include [1] significant margin pressure from a looming $70 million annualized tariff cliff, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6% |
| Low stock price volatilityVol 12M is 29% |
| Megatrend and thematic driversMegatrends include Sports & Outdoor Recreation, Experience Economy & Premiumization, and E-commerce & Digital Retail. Themes include Premium Sports Equipment, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -0.9%, 3Y Excs Rtn is -16% |
| Key risksGOLF key risks include [1] significant margin pressure from a looming $70 million annualized tariff cliff, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Acushnet (GOLF) stock has lost about 30% since 6/30/2026 because of the following key factors:
1. Cautious Management Outlook Despite Strong Fiscal Q2 2026 Results.
Acushnet (whose fiscal year ends December 31) announced strong fiscal Q2 2026 earnings on August 6, 2026, reporting diluted EPS of $2.08, beating consensus estimates by $0.45, and revenue of $819.95 million, surpassing expectations by 4.20% and representing a 13.8% year-over-year increase. However, the stock experienced a decline after management issued a "guarded outlook for the rest of 2026," signaling "more modest assumptions about golfer spending patterns over the coming quarters."
2. Broader Negative Sentiment Towards the Consumer Discretionary Sector.
The stock movement since June 30, 2026, coincided with a negative outlook for the overall Consumer Discretionary sector in fiscal Q3 2026, as noted by State Street Global Advisors. This sentiment was driven by "stretched consumer spending, weak real income growth, and elevated interest rates," which are factors weighing on demand and growth prospects for companies in this sector.
Show more
Acushnet (GOLF) stock has lost about 30% since 6/30/2026 because of the following key factors:
1. Cautious Management Outlook Despite Strong Fiscal Q2 2026 Results.
Acushnet (whose fiscal year ends December 31) announced strong fiscal Q2 2026 earnings on August 6, 2026, reporting diluted EPS of $2.08, beating consensus estimates by $0.45, and revenue of $819.95 million, surpassing expectations by 4.20% and representing a 13.8% year-over-year increase. However, the stock experienced a decline after management issued a "guarded outlook for the rest of 2026," signaling "more modest assumptions about golfer spending patterns over the coming quarters."
2. Broader Negative Sentiment Towards the Consumer Discretionary Sector.
The stock movement since June 30, 2026, coincided with a negative outlook for the overall Consumer Discretionary sector in fiscal Q3 2026, as noted by State Street Global Advisors. This sentiment was driven by "stretched consumer spending, weak real income growth, and elevated interest rates," which are factors weighing on demand and growth prospects for companies in this sector.
3. Anticipated Deceleration in Golf Industry Growth and Margin Pressures.
Concerns regarding an "anticipated deceleration in golf industry growth" and potential "margin compression stemming from declining sales volumes and adverse product mix effects" contributed to the negative trend. Furthermore, Acushnet's projected annual revenue growth of 1.9% over the next three years is significantly lower than the 4.4% growth forecast for the broader U.S. Leisure industry, indicating a relative slowdown compared to its peers.
Show less
Stock Movement Drivers
Fundamental Drivers
The -29.4% change in GOLF stock from 6/30/2026 to 10/5/2026 was primarily driven by a -45.3% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 118.18 | 83.39 | -29.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,608 | 2,708 | 3.8% |
| Net Income Margin (%) | 6.5% | 8.1% | 24.1% |
| P/E Multiple | 41.5 | 22.7 | -45.3% |
| Shares Outstanding (Mil) | 60 | 60 | 0.2% |
| Cumulative Contribution | -29.4% |
Market Drivers
6/30/2026 to 10/5/2026| Return | Correlation | |
|---|---|---|
| GOLF | -29.4% | |
| Market (SPY) | 3.8% | 13.7% |
| Sector (XLY) | -5.8% | 28.6% |
Fundamental Drivers
The -10.3% change in GOLF stock from 3/31/2026 to 10/5/2026 was primarily driven by a -23.2% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 92.94 | 83.39 | -10.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,559 | 2,708 | 5.8% |
| Net Income Margin (%) | 7.4% | 8.1% | 10.2% |
| P/E Multiple | 29.5 | 22.7 | -23.2% |
| Shares Outstanding (Mil) | 60 | 60 | 0.2% |
| Cumulative Contribution | -10.3% |
Market Drivers
3/31/2026 to 10/5/2026| Return | Correlation | |
|---|---|---|
| GOLF | -10.3% | |
| Market (SPY) | 19.4% | 9.1% |
| Sector (XLY) | 1.5% | 22.8% |
Fundamental Drivers
The 7.4% change in GOLF stock from 9/30/2025 to 10/5/2026 was primarily driven by a 11.7% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 77.61 | 83.39 | 7.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,490 | 2,708 | 8.8% |
| Net Income Margin (%) | 9.2% | 8.1% | -12.1% |
| P/E Multiple | 20.3 | 22.7 | 11.7% |
| Shares Outstanding (Mil) | 60 | 60 | 0.7% |
| Cumulative Contribution | 7.4% |
Market Drivers
9/30/2025 to 10/5/2026| Return | Correlation | |
|---|---|---|
| GOLF | 7.4% | |
| Market (SPY) | 17.3% | 27.9% |
| Sector (XLY) | -7.3% | 33.7% |
Fundamental Drivers
The 63.2% change in GOLF stock from 9/30/2023 to 10/5/2026 was primarily driven by a 42.6% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.10 | 83.39 | 63.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,381 | 2,708 | 13.7% |
| Net Income Margin (%) | 9.2% | 8.1% | -12.0% |
| P/E Multiple | 15.9 | 22.7 | 42.6% |
| Shares Outstanding (Mil) | 68 | 60 | 14.4% |
| Cumulative Contribution | 63.2% |
Market Drivers
9/30/2023 to 10/5/2026| Return | Correlation | |
|---|---|---|
| GOLF | 63.2% | |
| Market (SPY) | 87.5% | 41.6% |
| Sector (XLY) | 40.3% | 44.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GOLF Return | 33% | -19% | 51% | 14% | 14% | 6% | 123% |
| Peers Return | 49% | -14% | 27% | 2% | -24% | -43% | -28% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| GOLF Win Rate | 58% | 33% | 58% | 50% | 50% | 50% | |
| Peers Win Rate | 56% | 39% | 67% | 53% | 47% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| GOLF Max Drawdown | -16% | -28% | -17% | -17% | -25% | -32% | |
| Peers Max Drawdown | -22% | -42% | -26% | -36% | -43% | -51% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NKE, DKS, LULU.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/5/2026 (YTD)
How Low Can It Go
| Event | GOLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -14.3% | -18.8% |
| % Gain to Breakeven | 16.7% | 23.1% |
| Time to Breakeven | 22 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -13.3% | -9.5% |
| % Gain to Breakeven | 15.3% | 10.5% |
| Time to Breakeven | 19 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.0% | -6.7% |
| % Gain to Breakeven | 12.4% | 7.1% |
| Time to Breakeven | 19 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.2% | -24.5% |
| % Gain to Breakeven | 37.3% | 32.4% |
| Time to Breakeven | 80 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -29.0% | -33.7% |
| % Gain to Breakeven | 40.9% | 50.9% |
| Time to Breakeven | 56 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.9% | -19.2% |
| % Gain to Breakeven | 29.7% | 23.8% |
| Time to Breakeven | 171 days | 105 days |
In The Past
Acushnet's stock fell -14.3% during the 2025 US Tariff Shock. Such a loss loss requires a 16.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | GOLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -27.2% | -24.5% |
| % Gain to Breakeven | 37.3% | 32.4% |
| Time to Breakeven | 80 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -29.0% | -33.7% |
| % Gain to Breakeven | 40.9% | 50.9% |
| Time to Breakeven | 56 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -22.9% | -19.2% |
| % Gain to Breakeven | 29.7% | 23.8% |
| Time to Breakeven | 171 days | 105 days |
In The Past
Acushnet's stock fell -14.3% during the 2025 US Tariff Shock. Such a loss loss requires a 16.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Acushnet (GOLF)
Acushnet Holdings Corp. (GOLF) is a global leader in the design, development, manufacturing, and distribution of high-performance golf products. The company primarily operates through its well-known brands, Titleist and FootJoy, serving a dedicated community of golfers worldwide. Acushnet focuses on providing essential equipment and apparel for serious golfers, emphasizing quality and performance across its diverse product portfolio.
The company's extensive product offerings are segmented into golf balls, golf clubs, golf gear, and golf wear. Under the prestigious Titleist brand, Acushnet produces its renowned golf balls, along with a full line of golf clubs including drivers, irons, wedges (Vokey Design), and putters (Scotty Cameron). Titleist Golf Gear encompasses essential accessories such as golf bags, gloves, headwear, and travel products. For golf apparel and footwear, Acushnet offers FootJoy branded golf shoes, gloves, outerwear, and apparel, complemented by KJUS brand ski, golf, and lifestyle apparel.
Acushnet serves golfers across major international markets, including the United States, Europe, the Middle East, Africa, Japan, and Korea. Its products are distributed through a robust network that includes on-course golf shops, specialized golf retailers, and increasingly through online channels, ensuring accessibility for its global customer base. The company's strategy is centered on meeting the needs of serious and recreational golfers through premium products and broad distribution.
AI Analysis | Feedback
Here are 1-3 brief analogies for Acushnet (GOLF):
Nike for golf: Imagine Nike or Adidas, but purely focused on designing, manufacturing, and distributing premium golf equipment and apparel.
VF Corporation for golf: Think of it as a VF Corporation (known for brands like Vans, The North Face, Timberland) but specialized in housing leading golf brands such as Titleist and FootJoy.
AI Analysis | Feedback
- Titleist Golf Balls: Acushnet offers golf balls primarily under the Titleist brand.
- Titleist Golf Clubs: This category includes drivers, fairways, hybrids, and irons under the Titleist brand, along with wedges under Vokey Design and putters under Scotty Cameron.
- Titleist Golf Gear: The company provides golf bags, headwear, golf gloves, travel products, head covers, and other accessories, often with customization and personalization options, under the Titleist brand.
- FootJoy Golf Wear: Under the FootJoy brand, Acushnet produces golf shoes, gloves, golf outerwear, and both men's and women's golf apparel.
- KJUS Apparel: Acushnet also offers ski, golf, and lifestyle apparels under the KJUS brand.
AI Analysis | Feedback
Acushnet (symbol: GOLF) sells its products primarily to other companies, specifically a variety of retail channels. These retailers then sell the products to individual consumers.
Based on the company's description of its distribution channels ("on-course golf shops and golf specialty retailers, as well as through representatives, other retailers, and online"), its major customers are retailers in the golf and sporting goods sectors. While Acushnet does not disclose specific customer names, the following public companies are prominent retailers that likely serve as major direct or indirect customers for Acushnet's products:
- DICK'S Sporting Goods, Inc. (symbol: NYSE: DKS) - Operates DICK'S Sporting Goods stores and Golf Galaxy, a major golf specialty retailer.
- Amazon.com, Inc. (symbol: NASDAQ: AMZN) - A leading online retailer that distributes a wide array of sporting goods, including golf equipment and apparel.
- Academy Sports and Outdoors, Inc. (symbol: NASDAQ: ASO) - A large sporting goods and outdoor recreation retailer that carries golf products.
AI Analysis | Feedback
AI Analysis | Feedback
David Maher, President & Chief Executive Officer
David Maher joined Acushnet Company in 1991 and was appointed President and Chief Executive Officer in January 2018. From 2001 through 2017, he held various roles at the company's Fairhaven, Massachusetts headquarters, including Vice President, Titleist U.S. Sales; Senior Vice President, Titleist Worldwide Sales and Global Operations; and Chief Operating Officer. Prior to that, Mr. Maher worked as a Titleist Sales Representative and Northwest Regional Director and gained experience in the company's professional development program across golf ball operations, the FootJoy factory, and golf club operations.
Sean Sullivan, Executive Vice President & Chief Financial Officer
Sean Sullivan joined Acushnet Company as Executive Vice President and Chief Financial Officer in June 2023. Before joining Acushnet, Mr. Sullivan served as Executive Vice President and Chief Financial Officer of SiriusXM Holdings, Inc. from October 2020 to April 2023, and as Executive Vice President and Chief Financial Officer of AMC Networks Inc. from 2011 to 2020. He also held the position of Chief Financial Officer of HiT Entertainment from 2009 to 2010 and Chief Financial Officer and President of the Commercial Print and Packaging division of Cenveo, Inc. from 2005 to 2008. Mr. Sullivan was also a member of Acushnet's Board of Directors from 2016 to 2023.
Brendan Reidy, Executive Vice President, Chief People Officer
Brendan Reidy joined Acushnet Company in 2019 and was appointed Executive Vice President, Chief People Officer in 2021. Prior to this, he served as the company's Senior Vice President, Chief Human Resources Officer.
Steven Pelisek, President, Titleist Golf Clubs
Steven Pelisek joined Acushnet Company in 1993 and was appointed President, Titleist Golf Clubs in 2016. He previously held positions within the company as General Manager, Titleist Golf Clubs and Vice President, Club Sales for both the Titleist and Cobra golf club brands. Mr. Pelisek also held Marketing and Field Sales positions with Acushnet and with Lynx Golf.
John (Jay) Duke, Jr., President, Titleist Golf Gear
John (Jay) Duke, Jr. joined Acushnet Company and was appointed President, Titleist Golf Gear in 2014.
AI Analysis | Feedback
Here are the key risks to Acushnet's business:
- Tariff Headwinds and Supply Chain Disruptions: Acushnet faces significant financial headwinds from ongoing tariffs, directly impacting its cost of goods sold and gross margins. The company anticipates a substantial annualized tariff impact, projected to be around $70 million for 2026, which could continue to pressure profitability despite mitigation efforts.
- Dependence on Successful Product Cycles and Intense Competition: Acushnet's business performance is heavily reliant on the successful introduction and market reception of its new golf products, particularly in the Titleist Golf Equipment segment (golf balls, clubs, wedges, putters). If new product generations fail to resonate with consumers or if the company cannot maintain its competitive edge through innovation and quality against numerous established and emerging brands, sales momentum could stall and market share could be lost.
- Macroeconomic Sensitivity and Declining Participation in Key International Markets: As a provider of discretionary consumer goods, Acushnet's financial performance is susceptible to economic downturns, which can reduce consumer spending on golf products. Additionally, the company faces structural challenges and declining sales in significant international markets such as Japan and South Korea, attributed to economic weakness and demographic shifts like population decline, potentially limiting long-term growth prospects in these regions.
AI Analysis | Feedback
AI Analysis | Feedback
Acushnet Holdings Corp. (GOLF) operates in several segments of the global golf market. Below are the addressable market sizes for its main products:
- Titleist Golf Balls: The global golf ball market size was valued at approximately USD 1.23 billion in 2024 and is projected to grow to USD 1.56 billion by 2033. Another estimate places the global golf ball market at USD 1.1 billion in 2023, expected to reach around USD 1.7 billion by 2032.
- Titleist Golf Clubs (including Vokey Design wedges and Scotty Cameron putters): The global golf club market size was valued at USD 9.78 billion in 2024 and is projected to reach USD 14.91 billion by 2033. Another report indicates the global golf clubs market size was approximately USD 4.17 billion in 2025, with projections to reach USD 5.32 billion by 2034. North America held the largest share of the global golf club market, accounting for 45.1% in 2025.
- Titleist Golf Gear (golf bags, headwear, golf gloves, travel products, head covers, other golf accessories): The global golf accessories market size was valued at USD 6.48 billion in 2024 and is projected to reach USD 7.71 billion by 2032. This market specifically includes golf bags, headcovers, golf balls (often considered accessories), gloves, tees, ball markers, distance measuring devices, and repair tools. North America typically dominates the revenue share for golf accessories.
- FootJoy Golf Wear and KJUS brand (golf shoes, gloves, golf outerwear, men's and women's golf apparels): The global golf apparel market size was valued at USD 9.47 billion in 2025 and is projected to grow to USD 14.83 billion by 2034. North America dominated the golf apparel market with a market share of 55.60% in 2025. Other estimates for the global golf apparel market include USD 4.42 billion in 2024, expected to reach USD 6.61 billion by 2030, and US$8.5 billion in 2025, expected to reach US$12.3 billion by 2032.
AI Analysis | Feedback
Acushnet Holdings Corp. (symbol: GOLF) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and favorable market conditions.
Here are 3-5 expected drivers of Acushnet's future revenue growth:
- Continued Product Innovation and Accelerated Launches: Acushnet consistently introduces new and updated products across its key brands. Planned launches include new Titleist golf ball models (such as Pro V1x Left Dash, AVX, TourSoft, and Velocity), SM11 Vokey wedges, new Scotty Cameron Phantom mallet putters, and new FootJoy golf shoe models like Premiere and Pro/SL. The company is also accelerating its new driver launch to late June, earlier than its usual third-quarter timing. These innovations are central to Acushnet's strategy and are expected to drive demand and sales.
- Strategic Manufacturing Capacity Expansion: To support increasing demand, particularly within the golf clubs segment which has shown strong momentum, Acushnet is undertaking strategic golf equipment capacity expansion. For 2026, capital expenditures are projected to be approximately $95 million, primarily allocated to golf ball manufacturing capacity and increased club production.
- Expansion and Enhancement of Global Fitting Networks and Digital Capabilities: Acushnet is investing in and expanding its global fitting networks to improve the customer experience and boost sales of its premium products. This includes strengthening global business-to-business (B2B) and direct-to-consumer (D2C) capabilities, as well as enhancing custom fitting programs with new ball and wedge applications and FitLab initiatives.
- Benefiting from Strong Global Golfer Participation and Market Growth: The company is operating within a "structurally healthy golf industry," with U.S. golfer participation increasing for the eighth consecutive year. Acushnet's management and analysts link global health and wellness trends and rising participation to future demand, providing a supportive backdrop for continued equipment sales and overall market growth, both domestically and internationally.
AI Analysis | Feedback
Share Repurchases
- Acushnet has an active share repurchase program, with a total authorization of $1.25 billion since 2018, and the board authorized an additional $250.0 million on February 13, 2025.
- The company repurchased $211.5 million in shares during 2025, an increase from $173 million in 2024.
- Significant repurchases include $30.0 million in Q4 2024, and $62.5 million from Magnus Holdings in April 2025, following a previous $37.5 million repurchase from Magnus in July 2024.
Share Issuance
- The number of shares outstanding has consistently declined over the past few years, with a 5.73% decline in 2024 from 2023, and a 6.95% decline in 2023 from 2022.
- Shares outstanding decreased to 59.87 million at the end of 2025, representing a 3.35% decline from 2024.
Capital Expenditures
- Acushnet's capital expenditures were $70 million in 2025 and are projected to rise to $95 million in 2026, primarily for manufacturing and Enterprise Resource Planning (ERP) investments.
- Recent and upcoming capital expenditures are focused on expanding the global fitting network, enhancing digital capabilities, and implementing a global cloud-based ERP platform.
- In 2024, the company opened a new 500,000 square foot distribution and custom embroidery center in Lakeville, Massachusetts, and transitioned FootJoy footwear production to a new facility in Vietnam.
Peer Outperformance in Leisure Products
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -15.6% | 74.9% | 75.7% | CVSA 224% · LINC 220% · PRDO 205% |
| Homebuilding | 18 | -14.6% | 36.1% | 55.1% | GRBK 221% · PHM 154% · TOL 150% |
| Specialty Stores | 7 | -2.4% | 42.4% | 22.9% | ASO 33% · DKS 31% · SIG 27% |
| Hotels, Resorts & Cruise Lines | 21 | 4.3% | 32.9% | 4.3% | RCL 216% · MAR 139% · LIND 134% |
| Automotive Retail | 18 | -17.9% | -0.3% | -0.2% | MUSA 221% · PAG 124% · ORLY 105% |
| Home Improvement Retail | 5 | -26.8% | -4.5% | -3.4% | HVT 16% · LOW -3% · HD -3% |
| Footwear | 9 | 53.9% | 55.8% | -14.5% | WEYS 197% · DECK 32% · SHOO 26% |
| Home Furnishings | 4 | -7.6% | 29.5% | -14.8% | SGI 45% · LZB 1% · MHK -30% |
| Distributors | 4 | -15.9% | -26.8% | -14.9% | ARMK 121% · GPC 18% · LKQ -48% |
| Restaurants | 36 | -12.3% | -8.6% | -18.1% | EAT 286% · CAKE 162% · BH-A 121% |
| Specialized Consumer Services | 10 | -18.7% | 13.3% | -18.7% | HRB 97% · FTDR 83% · SCI 32% |
| Leisure Products ← | 13 | -23.9% | -21.4% | -38.4% | GOLF 87% · HAS 29% · MAT -15% |
| Household Appliances | 18 | 7.2% | -1.5% | -38.8% | FLXS 232% · HBB 178% · KEQU 152% |
| Apparel Retail | 26 | 3.5% | 22.8% | -39.7% | ANF 275% · URBN 178% · ROST 126% |
| Automotive Parts & Equipment | 38 | -16.5% | -9.9% | -40.8% | MOD 1489% · GTX 274% · CAAS 81% |
| Computer & Electronics Retail | 3 | -0.6% | 47.1% | -41.0% | BBY 4% · GME -41% · UPBD -71% |
| Apparel, Accessories & Luxury Goods | 29 | -10.1% | 16.8% | -41.1% | TPR 253% · RL 250% · ELA 194% |
| Leisure Facilities | 11 | 3.9% | -9.5% | -43.6% | JAKK 172% · OSW 124% · ESCA 23% |
| Casinos & Gaming | 20 | -19.3% | -28.1% | -47.7% | MCRI 96% · RRR 20% · BYD 12% |
| Broadline Retail | 14 | -10.1% | 25.8% | -51.3% | EBAY 64% · AMZN 54% · OLLI 46% |
| Consumer Electronics | 11 | -16.9% | -15.6% | -70.0% | AXIL 3380% · GRMN 102% · SONO -42% |
| Automobile Manufacturers | 8 | -78.6% | -51.3% | -77.5% | GM 55% · TSLA 45% · F 17% |
| Other Specialty Retail | 18 | -40.5% | -42.0% | -80.0% | TLF 99% · BBW 92% · WINA 61% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 88.33 |
| Mkt Cap | 11.3 |
| Rev LTM | 16,120 |
| Op Inc LTM | 1,735 |
| FCF LTM | 797 |
| FCF 3Y Avg | 946 |
| CFO LTM | 1,788 |
| CFO 3Y Avg | 1,786 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.3% |
| Rev Chg 3Y Avg | 6.2% |
| Rev Chg Q | 4.7% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | 3.0% |
| Op Inc Chg 3Y Avg | 3.0% |
| Op Mgn LTM | 11.0% |
| Op Mgn 3Y Avg | 11.2% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 8.8% |
| CFO/Rev 3Y Avg | 10.2% |
| FCF/Rev LTM | 5.7% |
| FCF/Rev 3Y Avg | 8.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 11.3 |
| P/S | 1.0 |
| P/Op Inc | 10.7 |
| P/EBIT | 11.5 |
| P/E | 15.3 |
| P/CFO | 12.8 |
| Total Yield | 10.7% |
| Dividend Yield | 2.4% |
| FCF Yield 3Y Avg | 4.0% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Titleist Golf Equipment | 1,596 | 1,508 | 1,420 | 1,288 | |
| FootJoy Golf Wear | 570 | 575 | 590 | 611 | 581 |
| Golf Gear | 245 | 232 | 590 | 212 | |
| Other | 148 | 143 | 149 | 159 | 156 |
| Titleist golf balls | 668 | ||||
| Titleist golf clubs | 552 | ||||
| Titleist golf gear | 193 | ||||
| Total | 2,559 | 2,457 | 2,749 | 2,270 | 2,148 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Titleist Golf Equipment | 245 | 274 | 251 | 214 | |
| Golf Gear | 36 | 26 | 20 | 9 | |
| FootJoy Golf Wear | 28 | 25 | 18 | 40 | 44 |
| Other | -10 | -20 | -3 | 19 | 23 |
| Titleist golf balls | 106 | ||||
| Titleist golf clubs | 75 | ||||
| Titleist golf gear | 15 | ||||
| Total | 299 | 304 | 285 | 282 | 264 |
Price Behavior
| Market Price | $83.39 | |
| Market Cap ($ Bil) | 5.0 | |
| First Trading Date | 10/28/2016 | |
| Distance from 52W High | -29.4% | |
| 50 Days | 200 Days | |
| DMA Price | $88.62 | $94.04 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -5.9% | -11.3% |
| 3M | 1YR | |
| Volatility | 28.0% | 29.6% |
| Downside Capture | 183.58 | 73.80 |
| Upside Capture | -22.51 | 65.76 |
| Correlation (SPY) | 12.9% | 27.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.43 | 0.28 | 0.33 | 0.24 | 0.64 | 0.86 |
| Up Beta | -0.14 | 0.76 | 0.16 | 0.74 | 0.76 | 1.03 |
| Down Beta | 0.01 | -1.06 | -0.41 | -0.86 | 0.31 | 0.64 |
| Up Capture | 31% | -34% | -27% | 13% | 60% | 63% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 15 | 20 | 56 | 122 | 371 |
| Down Capture | 104% | 156% | 174% | 67% | 80% | 96% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 27 | 44 | 70 | 130 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GOLF | |
|---|---|---|---|---|
| GOLF | 5.0% | 29.5% | 0.16 | - |
| Sector ETF (XLY) | -7.2% | 19.4% | -0.51 | 33.7% |
| Equity (SPY) | 16.8% | 13.0% | 0.92 | 27.8% |
| Gold (GLD) | 7.0% | 29.6% | 0.23 | 8.2% |
| Commodities (DBC) | 45.9% | 20.9% | 1.71 | -16.4% |
| Real Estate (VNQ) | 1.6% | 13.6% | -0.14 | 29.8% |
| Bitcoin (BTCUSD) | -30.1% | 44.3% | -0.68 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GOLF | |
|---|---|---|---|---|
| GOLF | 12.3% | 31.8% | 0.40 | - |
| Sector ETF (XLY) | 4.3% | 24.1% | 0.14 | 50.4% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 48.2% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 6.5% |
| Commodities (DBC) | 10.0% | 19.6% | 0.39 | 4.3% |
| Real Estate (VNQ) | 0.9% | 18.8% | -0.06 | 45.3% |
| Bitcoin (BTCUSD) | 14.9% | 52.2% | 0.45 | 20.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with GOLF | |
|---|---|---|---|---|
| GOLF | 18.7% | 31.4% | 0.61 | - |
| Sector ETF (XLY) | 11.9% | 22.2% | 0.49 | 50.2% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 51.0% |
| Gold (GLD) | 11.5% | 16.4% | 0.57 | 4.0% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 12.3% |
| Real Estate (VNQ) | 4.1% | 20.7% | 0.16 | 43.4% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 11.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -9.0% | -13.6% | -16.1% |
| 5/6/2026 | -8.4% | -9.6% | -5.1% |
| 2/26/2026 | 3.6% | 0.1% | -8.2% |
| 11/5/2025 | 4.0% | 6.3% | 11.3% |
| 8/7/2025 | -3.2% | 0.4% | -3.7% |
| 5/7/2025 | 5.2% | 8.1% | 8.8% |
| 2/27/2025 | -1.9% | -0.0% | 3.8% |
| 11/7/2024 | 12.2% | 8.4% | 17.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 11 |
| # Negative | 12 | 13 | 13 |
| Median Positive | 5.0% | 6.3% | 8.8% |
| Median Negative | -2.0% | -3.9% | -4.3% |
| Max Positive | 20.1% | 16.5% | 20.5% |
| Max Negative | -9.0% | -13.6% | -16.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -9.0% | -13.6% | -16.1% |
| 5/6/2026 | -8.4% | -9.6% | -5.1% |
| 2/26/2026 | 3.6% | 0.1% | -8.2% |
| 11/5/2025 | 4.0% | 6.3% | 11.3% |
| 8/7/2025 | -3.2% | 0.4% | -3.7% |
| 5/7/2025 | 5.2% | 8.1% | 8.8% |
| 2/27/2025 | -1.9% | -0.0% | 3.8% |
| 11/7/2024 | 12.2% | 8.4% | 17.6% |
| 8/6/2024 | -0.1% | -0.8% | 0.8% |
| 5/7/2024 | 3.6% | 0.2% | 4.5% |
| 2/29/2024 | -6.9% | -6.7% | -4.3% |
| 11/2/2023 | 9.4% | 9.4% | 16.6% |
| 8/3/2023 | -1.3% | -3.9% | -0.2% |
| 5/4/2023 | 4.9% | -1.4% | -6.1% |
| 3/1/2023 | 9.1% | 6.6% | 2.6% |
| 11/3/2022 | -2.2% | -2.8% | 5.5% |
| 8/4/2022 | 3.3% | 3.0% | -0.7% |
| 5/5/2022 | -3.9% | -7.6% | -1.4% |
| 3/1/2022 | -0.7% | -4.2% | -2.6% |
| 11/4/2021 | 0.8% | 1.9% | -1.8% |
| 8/5/2021 | -1.3% | -0.2% | -7.5% |
| 5/6/2021 | 20.1% | 16.5% | 20.5% |
| 2/25/2021 | -0.7% | -8.5% | -4.9% |
| 11/6/2020 | 6.5% | -0.3% | 9.1% |
| SUMMARY STATS | |||
| # Positive | 12 | 11 | 11 |
| # Negative | 12 | 13 | 13 |
| Median Positive | 5.0% | 6.3% | 8.8% |
| Median Negative | -2.0% | -3.9% | -4.3% |
| Max Positive | 20.1% | 16.5% | 20.5% |
| Max Negative | -9.0% | -13.6% | -16.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | null |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | null |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/06/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 10/31/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 2.65 Bil | 2.66 Bil | 2.67 Bil | 0.5% | Raised | Guidance: 2.65 Bil for 2026 | |
| 2026 Revenue Growth | Reported | 3.4% | 3.85% | 4.3% | 0.4% | Raised | Guidance: 3.5% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 450.00 Mil | 460.00 Mil | 470.00 Mil | 8.2% | Raised | Guidance: 425.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 2.62 Bil | 2.65 Bil | 2.67 Bil | 0 | Affirmed | Guidance: 2.65 Bil for 2026 | |
| 2026 Revenue Growth | Reported | 2.5% | 3.5% | 4.5% | 0 | Affirmed | Guidance: 3.5% for 2026 | |
| 2026 Adjusted EBITDA | Reported | 415.00 Mil | 425.00 Mil | 435.00 Mil | 0 | Affirmed | Guidance: 425.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | Reported | 2.62 Bil | 2.65 Bil | 2.67 Bil | 4.7% | Higher New | Guidance: 2.53 Bil for 2025 | |
| 2026 Net Sales Growth (Constant Currency) | Reported | 2.5% | 3.5% | 4.5% | 0.5% | Higher New | Guidance: 3.0% for 2025 | |
| 2026 Adjusted EBITDA | Reported | 415.00 Mil | 425.00 Mil | 435.00 Mil | 3.7% | Higher New | Guidance: 410.00 Mil for 2025 | |
Insider Activity
Updated 6/23/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mohamed, Nicholas N | Principal Accounting Officer | Direct | Sell | 6122026 | 95.00 | 529 | 50,241 | 272,460 | Form |
| 2 | Pelisek, Steven Francis | President-Titleist Golf Clubs | Direct | Sell | 5282026 | 91.26 | 15,000 | 1,368,931 | 6,435,114 | Form |
| 3 | Reidy, Brendan J | See Remarks | Direct | Sell | 3102026 | 92.67 | 9,489 | 879,356 | 5,182,151 | Form |
| 4 | Mohamed, Nicholas N | Principal Accounting Officer | Direct | Sell | 3052026 | 99.00 | 952 | 94,248 | 336,288 | Form |
| 5 | Lindner, Christopher Aaron | President - FootJoy | Direct | Sell | 12162025 | 85.00 | 6,500 | 552,500 | 7,073,813 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mohamed, Nicholas N | Principal Accounting Officer | Direct | Sell | 6122026 | 95.00 | 529 | 50,241 | 272,460 | Form |
| 2 | Pelisek, Steven Francis | President-Titleist Golf Clubs | Direct | Sell | 5282026 | 91.26 | 15,000 | 1,368,931 | 6,435,114 | Form |
| 3 | Reidy, Brendan J | See Remarks | Direct | Sell | 3102026 | 92.67 | 9,489 | 879,356 | 5,182,151 | Form |
| 4 | Mohamed, Nicholas N | Principal Accounting Officer | Direct | Sell | 3052026 | 99.00 | 952 | 94,248 | 336,288 | Form |
| 5 | Lindner, Christopher Aaron | President - FootJoy | Direct | Sell | 12162025 | 85.00 | 6,500 | 552,500 | 7,073,813 | Form |
| 6 | Pelisek, Steven Francis | President-Titleist Golf Clubs | Direct | Sell | 11262025 | 84.66 | 20,000 | 1,693,162 | 6,434,534 | Form |
| 7 | Maher, David Eugene | President and CEO | Direct | Sell | 11172025 | 79.33 | 26,939 | 2,136,954 | 67,592,757 | Form |
| 8 | Maher, David Eugene | President and CEO | Direct | Sell | 11172025 | 79.77 | 24,521 | 1,956,158 | 70,124,542 | Form |
| 9 | Bohn, Mary Louise | President-Titleist Golf Balls | Direct | Sell | 8152025 | 78.85 | 13,190 | 1,040,086 | 15,123,092 | Form |
| 10 | Misto, Holdings Corp | See explanation of responses | Sell | 7102025 | 65.56 | 953,406 | 62,508,444 | 1,935,668,119 | Form |
Investor Activity (13F)
Updated Oct 6, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
| Active Manager |
|---|
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Leisure Products Resources |
| The Toy Book |
| Bicycle Retailer |
| SGB Media |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.