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 4,849 - -
Change - -23.72% 38.54% 4.65% 8.34% 3.55% - -
Enterprise Value (EV) 1 3,942 3,490 4,766 5,033 5,575 5,647 5,596 5,434
Change - -11.46% 36.55% 5.61% 10.78% 1.28% -0.9% -2.89%
P/E 22.3x 15.4x 21.5x 21.1x 25.7x 20.7x 20.2x 19.1x
PBR 3.69x 3.43x 4.64x 5.89x 5.95x 5.56x 4.76x 4.09x
PEG - 1x 3.11x 1.4x -3.33x 0.7x 7.34x 3.35x
Capitalization / Revenue 1.82x 1.31x 1.73x 1.76x 1.83x 1.81x 1.76x 1.7x
EV / Revenue 1.84x 1.54x 2x 2.05x 2.18x 2.11x 2.03x 1.91x
EV / EBITDA 12x 10.3x 12.7x 12.4x 13.6x 12.2x 12.2x 11.1x
EV / EBIT 15.2x 12.4x 16.7x 16.5x 18.6x 15.7x 15.5x 14.6x
EV / FCF 14.3x -27x 16.1x 29.5x 46.4x 24.4x 25.4x 20.4x
FCF Yield 7.02% -3.7% 6.22% 3.39% 2.15% 4.09% 3.93% 4.89%
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% 1.13% 1.17% 1.26%
EPS 2 2.38 2.75 2.94 3.37 3.11 4.001 4.111 4.346
Distribution rate 27.7% 26.2% 26.5% 25.5% 30.2% 23.5% 23.7% 24%
Net sales 1 2,148 2,270 2,382 2,457 2,559 2,672 2,758 2,849
EBITDA 1 328.3 338.4 376.1 404.4 410.4 464 459.6 487.9
EBIT 1 259.8 281.5 285.3 304.3 299.4 360.4 361.4 373
Net income 1 178.9 199.3 198.4 214.3 188.5 238.4 241.2 249.7
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 83.02 83.02 83.02
Nbr of stocks (in thousands) 73,630 70,209 65,378 60,803 58,661 58,405 - -
Announcement Date 01/03/22 01/03/23 29/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.75x2.11x12.17x1.13% 484.88Cr
18.17x1.95x8.31x3.82% 388.23Cr
21.65x2.25x10.81x3.09% 301.15Cr
24.29x1.11x8.89x-.--% 257.77Cr
15.5x0.85x3.99x-.--% 215.92Cr
15.96x1.07x9.65x1.58% 202.23Cr
15.05x1.04x8.62x1.15% 132.05Cr
9.83x0.81x6.6x - 121.73Cr
46.05x12.2x30.07x1.6% 102.15Cr
31.55x - - 2.93% 76Cr
Average 21.88x 2.60x 11.01x 1.7% 228.23Cr
Weighted average by Cap. 20.49x 2.10x 10.20x 1.77%

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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