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 5,016 - -
Change - -23.72% 38.54% 4.65% 8.34% 7.13% - -
Enterprise Value (EV) 1 3,942 3,490 4,766 5,033 5,575 5,814 5,764 5,602
Change - -11.46% 36.55% 5.61% 10.78% 4.29% -0.87% -2.8%
P/E 22.3x 15.4x 21.5x 21.1x 25.7x 21.3x 20.7x 19.3x
PBR 3.69x 3.43x 4.64x 5.89x 5.95x 5.75x 4.93x 4.23x
PEG - 1x 3.11x 1.4x -3.33x 0.7x 7.06x 2.76x
Capitalization / Revenue 1.82x 1.31x 1.73x 1.76x 1.83x 1.88x 1.82x 1.76x
EV / Revenue 1.84x 1.54x 2x 2.05x 2.18x 2.18x 2.09x 1.97x
EV / EBITDA 12x 10.3x 12.7x 12.4x 13.6x 12.5x 12.5x 11x
EV / EBIT 15.2x 12.4x 16.7x 16.5x 18.6x 15.9x 15.8x 14.7x
EV / FCF 14.3x -27x 16.1x 29.5x 46.4x 26.2x 26.2x 20.5x
FCF Yield 7.02% -3.7% 6.22% 3.39% 2.15% 3.82% 3.81% 4.87%
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% 1.1% 1.13% 1.21%
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 85.89 85.89 85.89
Nbr of stocks (in thousands) 73,630 70,209 65,378 60,803 58,661 58,405 - -
Announcement Date 1/3/22 1/3/23 29/2/24 27/2/25 26/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.26x2.18x12.48x1.1% 5.02B
19.29x2.04x8.69x3.62% 4.17B
21.63x2.25x10.91x3.09% 3.06B
26.6x1.21x9.68x-.--% 2.77B
16.24x0.69x3.28x-.--% 2.23B
15.91x1.05x9.59x1.61% 1.95B
16.95x1.16x9.42x1.04% 1.44B
9.56x0.79x6.45x - 1.19B
43.73x11.7x27.77x1.68% 1.01B
71.89x1.65x8.78x-.--% 809M
Average 26.31x 2.47x 10.71x 1.35% 2.36B
Weighted average by Cap. 22.52x 2.07x 10.21x 1.62%

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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