ACUSHNET HOLDINGS CORP (GOLF) Stock Fundamental Analysis
NYSE:GOLF - New York Stock Exchange, Inc. - US0050981085 - Common Stock - Currency: USD
Taking everything into account, GOLF scores 6 out of 10 in our fundamental rating. GOLF was compared to 30 industry peers in the Leisure Products industry. GOLF scores excellent on profitability, but there are some minor concerns on its financial health. GOLF has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year GOLF was profitable.
GOLF had a positive operating cash flow in the past year.
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 8.27%, GOLF belongs to the best of the industry, outperforming 90.00% of the companies in the same industry.
GOLF has a better Return On Equity (21.83%) than 90.00% of its industry peers.
The Return On Invested Capital of GOLF (12.85%) is better than 93.33% of its industry peers.
The Average Return On Invested Capital over the past 3 years for GOLF is significantly above the industry average of 8.27%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.27% | ||
| ROE | 21.83% | ||
| ROIC | 12.85% |
ROA(3y)9.01%
ROA(5y)7.77%
ROE(3y)20.45%
ROE(5y)16.86%
ROIC(3y)13.64%
ROIC(5y)11.9%
1.3 Margins
GOLF has a better Profit Margin (7.78%) than 93.33% of its industry peers.
In the last couple of years the Profit Margin of GOLF has grown nicely.
Looking at the Operating Margin, with a value of 11.74%, GOLF belongs to the top of the industry, outperforming 90.00% of the companies in the same industry.
In the last couple of years the Operating Margin of GOLF has grown nicely.
GOLF has a better Gross Margin (53.48%) than 83.33% 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 | 11.74% | ||
| PM (TTM) | 7.78% | ||
| GM | 53.48% |
OM growth 3Y6.41%
OM growth 5Y2.66%
PM growth 3Y11.84%
PM growth 5Y6.38%
GM growth 3Y0.72%
GM growth 5Y0.39%
2. Health
2.1 Basic Checks
GOLF has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for GOLF has been reduced compared to 1 year ago.
GOLF has less shares outstanding than it did 5 years ago.
GOLF has a worse debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 3.62 indicates that GOLF is not in any danger for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.62, GOLF is in the better half of the industry, outperforming 73.33% of the companies in the same industry.
GOLF has a debt to FCF ratio of 2.97. This is a good value and a sign of high solvency as GOLF would need 2.97 years to pay back of all of its debts.
GOLF's Debt to FCF ratio of 2.97 is fine compared to the rest of the industry. GOLF outperforms 70.00% of its industry peers.
GOLF has a Debt/Equity ratio of 0.84. This is a neutral value indicating GOLF is somewhat dependend on debt financing.
GOLF has a worse Debt to Equity ratio (0.84) than 63.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 2.97 | ||
| Altman-Z | 3.62 |
ROIC/WACC1.52
WACC8.45%
2.3 Liquidity
A Current Ratio of 2.10 indicates that GOLF has no problem at all paying its short term obligations.
GOLF has a Current ratio of 2.10. This is comparable to the rest of the industry: GOLF outperforms 50.00% of its industry peers.
GOLF has a Quick Ratio of 1.14. This is a normal value and indicates that GOLF is financially healthy and should not expect problems in meeting its short term obligations.
GOLF's Quick ratio of 1.14 is on the low side compared to the rest of the industry. GOLF is outperformed by 63.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.1 | ||
| Quick Ratio | 1.14 |
3. Growth
3.1 Past
GOLF shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -10.91%.
GOLF shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 16.97% yearly.
The Revenue has been growing slightly by 0.35% in the past year.
Measured over the past years, GOLF shows a small growth in Revenue. The Revenue has been growing by 7.83% on average per year.
EPS 1Y (TTM)-10.91%
EPS 3Y28.56%
EPS 5Y16.97%
EPS Q2Q%4.71%
Revenue 1Y (TTM)0.35%
Revenue growth 3Y13.9%
Revenue growth 5Y7.83%
Sales Q2Q%4.57%
3.2 Future
The Earnings Per Share is expected to grow by 6.27% on average over the next years.
The Revenue is expected to grow by 2.16% on average over the next years.
EPS Next Y6.85%
EPS Next 2Y10.72%
EPS Next 3Y6.27%
EPS Next 5YN/A
Revenue Next Year2.74%
Revenue Next 2Y2.92%
Revenue Next 3Y2.16%
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 22.39, which indicates a rather expensive current valuation of GOLF.
The rest of the industry has a similar Price/Earnings ratio as GOLF.
Compared to an average S&P500 Price/Earnings ratio of 29.63, GOLF is valued a bit cheaper.
Based on the Price/Forward Earnings ratio of 18.58, the valuation of GOLF can be described as rather expensive.
The rest of the industry has a similar Price/Forward Earnings ratio as GOLF.
The average S&P500 Price/Forward Earnings ratio is at 22.68. GOLF is around the same levels.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.39 | ||
| Fwd PE | 18.58 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as GOLF.
Based on the Price/Free Cash Flow ratio, GOLF is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 16.29 | ||
| EV/EBITDA | 13.68 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of GOLF may justify a higher PE ratio.
PEG (NY)3.27
PEG (5Y)1.32
EPS Next 2Y10.72%
EPS Next 3Y6.27%
5. Dividend
5.1 Amount
GOLF has a Yearly Dividend Yield of 1.30%. Purely for dividend investing, there may be better candidates out there.
GOLF's Dividend Yield is a higher than the industry average which is at 4.10.
With a Dividend Yield of 1.30, GOLF pays less dividend than the S&P500 average, which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.3% |
5.2 History
The dividend of GOLF is nicely growing with an annual growth rate of 10.45%!
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)10.45%
Div Incr Years7
Div Non Decr Years7
5.3 Sustainability
GOLF pays out 28.45% of its income as dividend. This is a sustainable payout ratio.
The dividend of GOLF is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP28.45%
EPS Next 2Y10.72%
EPS Next 3Y6.27%
65.82
-0.55 (-0.83%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryLeisure Products
Earnings (Last)
Earnings (Next)
Inst Owners57.21%
Inst Owner Change-2.7%
Ins Owners2.76%
Ins Owner Change2.59%
Market Cap4.00B
Analysts72.86
Price Target74.61 (13.35%)
Short Float %14%
Short Ratio8.99
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.3% |
Yearly Dividend0.86
Dividend Growth(5Y)10.45%
DP28.45%
Div Incr Years7
Div Non Decr Years7
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.83%
Min EPS beat(2)-8.99%
Max EPS beat(2)10.65%
EPS beat(4)2
Avg EPS beat(4)-0.32%
Min EPS beat(4)-9.91%
Max EPS beat(4)10.65%
EPS beat(8)6
Avg EPS beat(8)23.63%
EPS beat(12)9
Avg EPS beat(12)20.01%
EPS beat(16)13
Avg EPS beat(16)44%
Revenue beat(2)0
Avg Revenue beat(2)-3.74%
Min Revenue beat(2)-5.55%
Max Revenue beat(2)-1.94%
Revenue beat(4)1
Avg Revenue beat(4)-3.12%
Min Revenue beat(4)-5.66%
Max Revenue beat(4)0.67%
Revenue beat(8)5
Avg Revenue beat(8)-0.06%
Revenue beat(12)9
Avg Revenue beat(12)2.47%
Revenue beat(16)13
Avg Revenue beat(16)5.98%
PT rev (1m)0%
PT rev (3m)3.64%
EPS NQ rev (1m)-1.02%
EPS NQ rev (3m)-18.45%
EPS NY rev (1m)-0.93%
EPS NY rev (3m)-1.6%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.2%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.39 | ||
| Fwd PE | 18.58 | ||
| P/S | 1.65 | ||
| P/FCF | 16.29 | ||
| P/OCF | 12.46 | ||
| P/B | 4.63 | ||
| P/tB | 35.76 | ||
| EV/EBITDA | 13.68 |
EPS(TTM)2.94
EY4.47%
EPS(NY)3.54
Fwd EY5.38%
FCF(TTM)4.04
FCFY6.14%
OCF(TTM)5.28
OCFY8.03%
SpS39.88
BVpS14.21
TBVpS1.84
PEG (NY)3.27
PEG (5Y)1.32
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.27% | ||
| ROE | 21.83% | ||
| ROCE | 16.13% | ||
| ROIC | 12.85% | ||
| ROICexc | 13.59% | ||
| ROICexgc | 24.51% | ||
| OM | 11.74% | ||
| PM (TTM) | 7.78% | ||
| GM | 53.48% | ||
| FCFM | 10.13% |
ROA(3y)9.01%
ROA(5y)7.77%
ROE(3y)20.45%
ROE(5y)16.86%
ROIC(3y)13.64%
ROIC(5y)11.9%
ROICexc(3y)15.02%
ROICexc(5y)12.96%
ROICexgc(3y)29.55%
ROICexgc(5y)25.45%
ROCE(3y)17.16%
ROCE(5y)14.99%
ROICexcg growth 3Y8.04%
ROICexcg growth 5Y3.54%
ROICexc growth 3Y12.28%
ROICexc growth 5Y5.84%
OM growth 3Y6.41%
OM growth 5Y2.66%
PM growth 3Y11.84%
PM growth 5Y6.38%
GM growth 3Y0.72%
GM growth 5Y0.39%
F-Score6
Asset Turnover1.06
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.84 | ||
| Debt/FCF | 2.97 | ||
| Debt/EBITDA | 2.15 | ||
| Cap/Depr | 137.45% | ||
| Cap/Sales | 3.11% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 94.56% | ||
| Profit Quality | 130.29% | ||
| Current Ratio | 2.1 | ||
| Quick Ratio | 1.14 | ||
| Altman-Z | 3.62 |
F-Score6
WACC8.45%
ROIC/WACC1.52
Cap/Depr(3y)196.76%
Cap/Depr(5y)145.28%
Cap/Sales(3y)3.85%
Cap/Sales(5y)3.01%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-10.91%
EPS 3Y28.56%
EPS 5Y16.97%
EPS Q2Q%4.71%
EPS Next Y6.85%
EPS Next 2Y10.72%
EPS Next 3Y6.27%
EPS Next 5YN/A
Revenue 1Y (TTM)0.35%
Revenue growth 3Y13.9%
Revenue growth 5Y7.83%
Sales Q2Q%4.57%
Revenue Next Year2.74%
Revenue Next 2Y2.92%
Revenue Next 3Y2.16%
Revenue Next 5YN/A
EBIT growth 1Y-11.45%
EBIT growth 3Y21.2%
EBIT growth 5Y10.7%
EBIT Next Year38.06%
EBIT Next 3Y12.84%
EBIT Next 5YN/A
FCF growth 1Y419.14%
FCF growth 3Y4.21%
FCF growth 5Y15.69%
OCF growth 1Y1384.62%
OCF growth 3Y12.04%
OCF growth 5Y17.83%