Acushnet Holdings Corp. (GOLF) financial statements: income statement, balance sheet and cash flow

Acushnet Holdings Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Acushnet Holdings Corp. reported revenue of $2.6B (+4.1% year on year) and net income of $188.5M (-12.0% year on year).

Income statement

Acushnet Holdings Corp. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net sales	$2.6B	$2.5B	$2.4B	$2.3B
Cost of goods sold	$1.3B	$1.3B	$1.1B	$1.1B
Gross profit	$1.2B	$1.2B	$1.3B	$1.2B
Selling, general and administrative	$833.4M	$801.6M	$888.1M	$833.4M
Research and development	$76.5M	$67.8M	$64.8M	$56.4M
Intangible amortization	$11.9M	$14.0M	$14.2M	$7.9M
Income from operations	$299.4M	$304.3M	$285.3M	$281.5M
Interest expense, net (Note 19)	$58.3M	$52.6M	$41.3M	$13.3M
Loss on debt extinguishment (Note 11)	$17.0M	—	—	—
Other (income) expense, net (Note 19)	($15.4M)	$2.0M	$2.4M	$8.8M
Income before income taxes	$239.5M	$249.7M	$241.6M	$259.4M
Income tax expense	$52.4M	$47.8M	$43.0M	$54.4M
Net income	$187.2M	$201.8M	$198.6M	$205.1M
Less: Net loss (income) attributable to noncontrolling interests	$1.4M	$12.5M	($178.0K)	($5.8M)
Net income attributable to Acushnet Holdings Corp.	$188.5M	$214.3M	$198.4M	$199.3M
Basic (in dollars per share)	$3.13	$3.38	$2.96	$2.77
Diluted (in dollars per share)	$3.11	$3.37	$2.94	$2.75
Basic (in shares)	60.3M	63.3M	67.1M	72.0M
Diluted (in shares)	60.6M	63.6M	67.5M	72.6M

Acushnet Holdings Corp. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Net sales	$820.0M	$753.0M	$657.7M	$720.5M
Cost of goods sold	$374.1M	$397.7M	$338.5M	$366.2M
Gross profit	$445.8M	$355.3M	$319.1M	$354.3M
Selling, general and administrative	$246.2M	$213.7M	$204.9M	$222.0M
Research and development	$20.8M	$19.2M	$18.6M	$18.9M
Intangible amortization	$2.2M	$2.2M	$2.7M	$3.5M
Income from operations	$176.6M	$120.1M	$92.9M	$109.9M
Interest expense, net	$12.3M	$13.1M	$14.5M	$15.2M
Other expense (income), net	$274.0K	$1.8M	$1.8M	$988.0K
Income before income taxes	$164.0M	$105.3M	$76.7M	$93.7M
Income tax expense	$38.7M	$24.1M	$28.6M	$18.6M
Net income	$125.3M	$81.2M	$48.0M	$75.1M
Less: Net (income) loss attributable to noncontrolling interests	($490.0K)	$256.0K	$480.0K	$484.0K
Net income attributable to Acushnet Holdings Corp.	$124.8M	$81.4M	$48.5M	$75.6M
Basic (in dollars per share)	$2.09	$1.36	$0.81	$1.26
Diluted (in dollars per share)	$2.08	$1.36	$0.81	$1.25
Basic (in shares)	59.8M	59.8M	59.9M	60.2M
Diluted (in shares)	59.9M	60.0M	60.2M	60.3M

Balance sheet

Acushnet Holdings Corp. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash, cash equivalents and restricted cash ($0 and $10,647 attributable to a variable interest entity ("VIE"))	$50.1M	$53.1M	$65.4M	$58.9M
Accounts receivable, net	$217.5M	$218.4M	$201.4M	$216.7M
Inventories ($0 and $3,667 attributable to a VIE)	$608.6M	$576.0M	$615.5M	$674.7M
Prepaid and other assets	$149.2M	$126.5M	$114.4M	$108.8M
Total current assets	$1.0B	$973.9M	$996.7M	$1.1B
Property, plant and equipment, net ($0 and $8,135 attributable to a VIE)	$356.6M	$325.7M	$295.3M	$254.5M
Goodwill ($0 and $32,312 attributable to a VIE)	$224.3M	$220.1M	$225.3M	$224.8M
Intangible assets, net	$511.4M	$523.1M	$537.4M	$525.9M
Deferred income taxes	$21.1M	$34.3M	$31.5M	$47.6M
Other assets ($0 and $1,884 attributable to a VIE)	$204.0M	$103.0M	$110.5M	$82.0M
Total assets	$2.3B	$2.2B	$2.2B	$2.2B
Short-term debt	$16.0M	$10.2M	$29.0M	$40.3M
Current portion of long-term debt	$661.0K	$722.0K	$351.0K	$0
Accounts payable ($0 and $2,400 attributable to a VIE)	$157.0M	$150.3M	$150.5M	$167.0M
Accrued taxes	$34.2M	$36.0M	$46.4M	$40.9M
Accrued compensation and benefits ($0 and $643 attributable to a VIE)	$101.0M	$95.1M	$111.1M	$98.2M
Accrued expenses and other liabilities ($0 and $13,893 attributable to a VIE)	$121.3M	$180.4M	$113.7M	$202.1M
Total current liabilities	$430.2M	$472.7M	$451.1M	$548.6M
Long-term debt	$926.2M	$753.1M	$671.8M	$527.5M
Deferred income taxes	$7.6M	$8.1M	$7.1M	$5.9M
Accrued pension and other postretirement benefits	$68.8M	$74.4M	$69.6M	$74.2M
Other noncurrent liabilities	$124.6M	$74.7M	$84.1M	$54.2M
Total liabilities	$1.6B	$1.4B	$1.3B	$1.2B
Redeemable noncontrolling interests	$1.8M	$4.0M	$9.8M	$6.7M
Common stock, $0.001 par value, 500,000,000 shares authorized; 58,371,822 and 61,214,541 shares issued	58.0K	61.0K	63.0K	76.0K
Additional paid-in capital	$763.8M	$787.7M	$808.6M	$960.7M
Accumulated other comprehensive loss, net of tax	($122.3M)	($140.3M)	($104.3M)	($109.7M)
Retained earnings	$142.0M	$180.3M	$159.9M	$473.1M
Treasury stock, at cost; (including 935,907 of accrued share repurchases as of December 31, 2024) (Note 16)	$0	($62.5M)	$0	($385.2M)
Total equity attributable to Acushnet Holdings Corp.	$783.6M	$765.2M	$864.2M	$939.1M
Noncontrolling interests	$0	$27.9M	$38.9M	$37.6M
Total shareholders' equity	$783.6M	$793.1M	$903.1M	$976.7M
Total liabilities, redeemable noncontrolling interests and shareholders' equity	$2.3B	$2.2B	$2.2B	$2.2B

Acushnet Holdings Corp. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash, cash equivalents and restricted cash ($2,799 and $0 attributable to a variable interest entity ("VIE"))	$67.9M	$51.7M	$89.5M	$60.1M
Accounts receivable, net	$489.4M	$504.8M	$362.9M	$429.4M
Inventories ($6,599 and $0 attributable to a VIE)	$532.2M	$576.7M	$513.7M	$533.7M
Prepaid and other current assets	$179.9M	$162.1M	$148.3M	$134.7M
Total current assets	$1.3B	$1.3B	$1.1B	$1.2B
Property, plant and equipment, net	$368.5M	$360.1M	$342.6M	$325.0M
Goodwill	$222.2M	$223.1M	$225.0M	$224.8M
Intangible assets, net	$506.9M	$509.2M	$513.7M	$517.4M
Deferred income taxes	$13.1M	$14.3M	$13.7M	$32.0M
Other noncurrent assets	$196.0M	$198.1M	$144.2M	$138.5M
Total assets	$2.6B	$2.6B	$2.4B	$2.4B
Short-term debt	$22.9M	$28.0M	$22.7M	$20.8M
Current portion of long-term debt	$639.0K	$650.0K	$726.0K	$751.0K
Accounts payable ($7,957 and $0 attributable to a VIE)	$195.6M	$179.6M	$160.6M	$179.5M
Accrued taxes	$54.8M	$47.2M	$53.9M	$47.7M
Accrued compensation and benefits	$93.5M	$66.0M	$86.3M	$77.0M
Accrued expenses and other current liabilities	$130.4M	$130.6M	$136.8M	$189.5M
Total current liabilities	$497.8M	$452.0M	$461.0M	$515.3M
Long-term debt	$936.5M	$1.1B	$878.3M	$911.0M
Deferred income taxes	$21.9M	$11.9M	$7.6M	$7.4M
Accrued pension and other postretirement benefits	$68.0M	$67.0M	$70.9M	$71.3M
Other noncurrent liabilities ($7,500 and $0 attributable to a VIE)	$125.6M	$120.0M	$78.9M	$77.2M
Total liabilities	$1.6B	$1.8B	$1.5B	$1.6B
Redeemable noncontrolling interests	$1.2M	$1.6M	$4.5M	$4.8M
Common stock, $0.001 par value, 500,000,000 shares authorized; 58,379,528 and 58,371,822 shares issued	58.0K	59.0K	59.0K	60.0K
Additional paid-in capital	$759.4M	$751.5M	$763.4M	$767.9M
Accumulated other comprehensive loss, net of tax	($129.9M)	($125.6M)	($119.6M)	($121.2M)
Retained earnings	$294.9M	$199.2M	$208.5M	$224.2M
Total equity attributable to Acushnet Holdings Corp.	$924.4M	$825.1M	$852.3M	$808.5M
Noncontrolling interests	$761.0K	($77.0K)	$0	$0
Total shareholders' equity	$925.1M	$825.0M	$852.3M	$808.5M
Total liabilities, redeemable noncontrolling interests and shareholders' equity	$2.6B	$2.6B	$2.4B	$2.4B

Cash flow statement

Acushnet Holdings Corp. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$187.2M	$201.8M	$198.6M	$205.1M
Depreciation and amortization	$55.3M	$55.9M	$51.4M	$41.7M
Unrealized foreign exchange (gain) loss	($2.8M)	($2.9M)	$1.5M	$13.6M
Amortization of debt issuance costs	$1.8M	$1.8M	$927.0K	$2.0M
Share-based compensation	$28.6M	$30.8M	$29.7M	$24.1M
Loss on disposals of property, plant and equipment	$725.0K	$902.0K	$99.0K	($3.3M)
Gain on deconsolidation of VIE (Note 8)	($20.9M)	—	—	—
Loss from equity method investment (Note 8)	$1.1M	—	—	—
Loss on debt extinguishment (Note 11)	$17.0M	—	—	—
Deferred income taxes	$13.9M	$915.0K	$15.4M	$9.1M
Accounts receivable	$12.0M	($26.8M)	$13.8M	($58.9M)
Inventories	($20.4M)	$21.7M	$58.9M	($276.0M)
Accounts payable	($1.7M)	$1.9M	($12.1M)	$8.8M
Accrued taxes	($5.1M)	($8.2M)	$6.2M	($11.4M)
Other assets and liabilities	($72.3M)	($32.6M)	$7.4M	($22.5M)
Cash flows provided by operating activities	$194.4M	$245.1M	$371.8M	($67.8M)
Additions to property, plant and equipment	($74.3M)	($74.6M)	($75.4M)	($61.4M)
Additions to intangible assets (Note 9)	$0	$0	($25.2M)	($65.0M)
Other, net	$0	$0	($887.0K)	$4.5M
Cash flows used in investing activities	($74.3M)	($74.6M)	($101.5M)	($140.2M)
Proceeds from credit facilities (Note 11)	$1.8B	$1.2B	$1.5B	$977.0M
Repayments of credit facilities (Note 11)	($1.8B)	($1.2B)	($1.7B)	($414.1M)
Proceeds from senior unsecured notes (Note 11)	$500.0M	$0	$350.0M	—
Repayments of senior unsecured notes (Note 11)	($350.0M)	—	—	—
Payment of redemption premium (Note 11)	($12.9M)	—	—	—
Payment of debt issuance costs	($9.6M)	$0	($6.3M)	($2.6M)
Purchases of common stock	($211.5M)	($172.8M)	($334.1M)	($189.1M)
Dividends paid on common stock	($56.2M)	($54.3M)	($52.5M)	($52.2M)
Payment of employee restricted stock tax withholdings	($11.6M)	($16.9M)	($11.5M)	($10.7M)
Other, net	($1.7M)	$0	$1.1M	($3.6M)
Cash flows used in financing activities	($124.8M)	($179.7M)	($264.7M)	($8.6M)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	$1.8M	($3.2M)	$915.0K	($6.2M)
Net (decrease) increase in cash, cash equivalents and restricted cash	($3.0M)	($12.4M)	$6.5M	($222.8M)
Cash, cash equivalents and restricted cash, beginning of year	$53.1M	$65.4M	$58.9M	$281.7M
Cash, cash equivalents and restricted cash, end of year	$50.1M	$53.1M	$65.4M	$58.9M

Acushnet Holdings Corp. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$206.5M	$81.2M	$222.1M	$174.1M
Depreciation and amortization	$26.2M	$12.9M	$42.2M	$29.2M
Unrealized foreign exchange loss (gain)	$1.6M	$1.9M	($3.7M)	($2.8M)
Amortization of debt issuance costs	$696.0K	$329.0K	$1.4M	$910.0K
Share-based compensation	$19.1M	$8.6M	$24.0M	$15.5M
Loss on disposals of property, plant and equipment	$31.0K	$30.0K	$606.0K	$593.0K
Gain on deconsolidation of VIE (Note 16)	$0	$0	($20.9M)	($20.9M)
(Gain) loss from equity method investment (Note 16)	($324.0K)	$66.0K	$487.0K	$408.0K
Deferred income taxes	$20.1M	$9.7M	$22.5M	$4.9M
Accounts receivable	($277.9M)	($290.7M)	($130.4M)	($197.4M)
Inventories	$68.9M	$27.9M	$77.0M	$57.9M
Accounts payable	$43.5M	$28.0M	$4.1M	$24.1M
Accrued taxes	$22.2M	$14.0M	$13.9M	$7.7M
Other assets and liabilities	($23.2M)	($37.5M)	($58.5M)	($62.6M)
Cash flows provided by operating activities	$107.4M	($143.7M)	$194.7M	$31.6M
Additions to property, plant and equipment	($37.3M)	($19.2M)	($51.3M)	($25.1M)
Other, net	$0	—	—	($646.0K)
Cash flows used in investing activities	($37.3M)	($19.2M)	($51.3M)	($25.8M)
Proceeds from credit facilities (Note $5)	$682.4M	$444.5M	$1.1B	$790.5M
Repayments of credit facilities (Note $5)	($664.1M)	($235.6M)	($954.1M)	($626.3M)
Purchases of common stock	($26.0M)	($10.0M)	($187.5M)	($125.0M)
Dividends paid on common stock	($30.8M)	($15.9M)	($42.4M)	($28.6M)
Payment of employee restricted stock tax withholdings	($19.9M)	($19.7M)	($11.5M)	($11.0M)
Other, net	$7.5M	$1.5M	($1.7M)	($1.7M)
Cash flows used in financing activities	($50.9M)	$164.9M	($110.2M)	($2.1M)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	($1.4M)	($463.0K)	$3.3M	$3.3M
Net increase in cash, cash equivalents and restricted cash	$17.9M	$1.6M	$36.4M	$7.0M
Cash, cash equivalents and restricted cash, beginning of year	$50.1M	$50.1M	$53.1M	$53.1M
Cash, cash equivalents and restricted cash, end of period	$67.9M	$51.7M	$89.5M	$60.1M
Purchases of property, plant and equipment, accrued not paid	$6.0M	$4.3M	$6.3M	$5.0M
Additions to right-of-use assets obtained in exchange for operating lease obligations	$8.5M	$2.5M	$16.7M	$8.8M
Additions to right-of-use assets obtained in exchange for finance lease obligations	$224.0K	—	$209.0K	$0
Dividend equivalents rights ("DERs") declared not paid	$1.3M	$646.0K	$1.6M	$1.0M
Additions to share repurchase liability (Note 10)	$0	$0	$0	$62.5M
Additional investment in less than wholly-owned subsidiary (Note 16)	$6.4M	$6.4M	—	—

Acushnet Holdings Corp. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.