Acushnet Holdings (GOLF) FY2023 results: revenue $2.4 billion, up 4.9% on the year
Acushnet Holdings Corp. (GOLF) reported revenue of $2.4 billion for fiscal 2023, the year ended 31 December 2023, up 4.9% on the year before. Net income was $198 million, down 0.4%, and diluted earnings per share $2.94. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$2.4 billion
+4.9% on the year
FY2016FY2023
Operating margin
12.0%
12.4% a year earlier
FY2016FY2023
Net income
$198 million
-0.4% on the year
FY2016FY2023
Diluted EPS
$2.94
+6.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
372
-67.8
314
Capital expenditure
75.4
61.4
37.6
+22.8%
Free cash flow
296
-129
277
Free cash flow margin
12.4%
-5.7%
12.9%
Cash from investing
-101
-140
-37.6
Cash from financing
-265
-8.6
-140
Depreciation and amortisation
51.4
41.7
41.2
+23.1%
Share-based compensation
29.7
24.1
27.6
+23.4%
Buybacks
334
189
65.5
+76.7%
Dividends paid
52.5
52.2
49.2
+0.5%
Dividend per share
$0.78
$0.72
$0.66
+8.3%
Diluted shares, weighted
68m
73m
75m
-7.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
864
939
1,043
-8.0%
Non-controlling interest
38.9
37.6
37.4
+3.2%
Redeemable equity
9.8
6.7
3.3
+46.9%
Short-term borrowings
n/a
n/a
0.1
Debt
701
568
315
+23.5%
Operating lease liabilities
73.3
44.8
35.9
+63.6%
Finance lease liabilities
1.5
1.2
1.1
+25.3%
Other liabilities
508
597
570
-14.9%
Total liabilities and equity
2,197
2,194
2,006
+0.1%
Goodwill
225
225
210
+0.2%
Intangible assets
537
526
465
+2.2%
Cash and equivalents
65.4
58.9
282
+11.1%
Receivables
201
217
174
-7.1%
Inventory
616
675
413
-8.8%
Other assets
552
493
461
+11.9%
Total assets
2,197
2,194
2,006
+0.1%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.