Acushnet Holdings Corp. reported $2,457.091 million in consolidated net sales in 2024, covering its global business for the year ended December 31. The figures below distinguish GAAP company results from segment reporting, constant-currency analysis, geographic sales, and approximate disclosures.
Key Acushnet Statistics
The most useful Acushnet statistics span company scale, product categories, geography, profitability and operating capacity:
- In 2024, Acushnet consolidated net sales were $2,457.091 million globally for the year ended December 31.
- In 2024, gross profit was $1,187.727 million for consolidated Acushnet Holdings Corp.
- In 2024, income from operations was $304.262 million for the consolidated company.
- In 2024, net income attributable to Acushnet was $214.3 million, up $15.9 million from 2023.
- In 2024, adjusted EBITDA was $404.4 million and its margin was 16.5% for the consolidated company.
- In 2024, Titleist golf equipment generated $1,507.817 million in global segment net sales.
- In 2024, Titleist golf equipment represented approximately 61% of consolidated net sales globally.
- In 2024, golf ball net sales were $786.5 million globally, up 3.3% from 2023.
- In 2024, golf club net sales were $721.3 million globally, up 9.5% from 2023.
- In 2024, FootJoy golf wear net sales were $574.560 million globally.
- In 2024, golf gear net sales were $232.141 million globally, up 4.3% from 2023.
- In 2024, United States net sales were $1,446.8 million, rising 7.2% from 2023.
- In each year from 2022 through 2024, sales outside the United States represented approximately 40%–50% of consolidated net sales.
- In each year from 2022 through 2024, more than 40% of consolidated net sales were denominated in foreign currencies.
- In 2024, operating cash flow was $245.108 million for consolidated Acushnet Holdings Corp.
- During the 2024 Form 10-K reporting period, Acushnet had approximately 200 R&D scientists, chemists, engineers and technicians globally.
- During the 2024 Form 10-K reporting period, three company-owned golf-ball facilities covered approximately 600,000 square feet in the United States and Thailand.
Contents
- Key Acushnet Statistics
- Acushnet Company Scale and Three-Year Sales Trends
- Titleist Golf Equipment Statistics
- FootJoy and Golf Gear Sales Data
- Acushnet Geographic Sales and Currency Exposure
- Acushnet Profitability, Investment and Cash Flow
- Acushnet Operations, Manufacturing and Balance Sheet
Acushnet Company Scale and Three-Year Sales Trends
Acushnet’s consolidated net sales rose across the three reported years, from $2,270.336 million in 2022 to $2,381.995 million in 2023 and $2,457.091 million in 2024. These are GAAP consolidated company figures for the years ended December 31, not standalone brand totals.
| Year ended December 31 | Consolidated net sales (USD millions) |
|---|---|
| 2022 | 2,270.336 |
| 2023 | 2,381.995 |
| 2024 | 2,457.091 |
Source: Acushnet Holdings Corp. Form 10-K for the year ended December 31, 2024.
The 2024 income statement included $1,187.727 million of gross profit and $304.262 million of income from operations. Net income attributable to Acushnet Holdings Corp. was $214.3 million, up $15.9 million year over year.
The company’s adjusted measure also improved: adjusted EBITDA reached $404.4 million in 2024, up 7.5% from 2023, while adjusted EBITDA margin increased from 15.8% to 16.5%. Adjusted EBITDA is a company-defined non-GAAP measure and should not be treated as a GAAP profit line.
Source: Acushnet Holdings Corp. Fourth Quarter and Full Year 2024 Financial Results.
Titleist Golf Equipment Statistics
Titleist golf equipment was the largest reported Acushnet segment in 2024, with $1,507.817 million in global net sales, approximately 61% of total consolidated net sales. The comparable segment figures were $1,420.4 million in 2023 and $1,288.4 million in 2022.
| Product measure | 2022 | 2023 | 2024 |
|---|---|---|---|
| Titleist golf equipment net sales (USD millions) | 1,288.4 | 1,420.4 | 1,507.817 |
| Golf ball net sales (USD millions) | — | 761.7 | 786.5 |
| Golf club net sales (USD millions) | — | 658.7 | 721.3 |
The 2024 golf ball result increased 3.3% from 2023, while golf club net sales increased 9.5%. Management reported that Titleist golf equipment sales increased 6.2% in reported terms and 6.9% on a constant-currency basis.
The reported product drivers included higher volumes of SM10 wedges, GT drivers and fairways, Pro V1, Pro V1x, AVX, Tour Soft and TruFeel models. The release did not quantify each model’s individual contribution, so these are reported drivers rather than model-level volume statistics.
Within the United States, higher Titleist golf equipment sales included a $74.9 million increase in 2024 versus 2023. Segment results are management reporting measures and are not necessarily results that would have been achieved as unaffiliated businesses.
Source: Acushnet Holdings Corp. Fourth Quarter and Full Year 2024 Financial Results and 2024 Form 10-K.
FootJoy and Golf Gear Sales Data
FootJoy golf wear generated $574.560 million in 2024 global segment net sales, representing approximately 23% of Acushnet’s total net sales. FootJoy golf wear net sales were $590.0 million in 2023 and $611.0 million in 2022.
| Acushnet segment | 2022 | 2023 | 2024 |
|---|---|---|---|
| FootJoy golf wear (USD millions) | 611.0 | 590.0 | 574.560 |
| Golf gear (USD millions) | — | 222.6 | 232.141 |
FootJoy golf wear sales decreased 2.6% in 2024, or 2.0% on a constant-currency basis. In the fourth quarter of 2024, FootJoy golf wear sales increased 2.0% year over year; apparel and gloves were slightly down while footwear volume rose.
Golf gear net sales reached $232.141 million in 2024, up 4.3% from 2023, or 5.1% on a constant-currency basis. The fourth quarter showed a sharper 17.3% year-over-year increase, but that quarterly result is not a full-year measure.
Constant-currency figures are analytical estimates of performance without exchange-rate changes, not GAAP results. Segment results are management reporting measures rather than results of separate unaffiliated businesses.
Source: Acushnet Holdings Corp. Fourth Quarter and Full Year 2024 Financial Results and 2024 Form 10-K.
Acushnet Geographic Sales and Currency Exposure
The United States produced $1,446.8 million of net sales in 2024, compared with $1,350.0 million in 2023, a reported increase of 7.2%. Geographic net sales are categorized by the location where the sale originates.
| Geographic measure | 2023 | 2024 | Period or definition |
|---|---|---|---|
| United States net sales (USD millions) | 1,350.0 | 1,446.8 | Full year |
| Sales outside the United States (USD millions) | — | 1,010.3 | Full year |
| EMEA net sales (USD thousands) | — | 320,901 | Full year |
| United States long-lived assets (USD thousands) | — | 237,097 | December 31 balance |
Sales outside the United States were $1,010.3 million in 2024 and decreased 2.1% from 2023, or 0.3% on a constant-currency basis. The company reported that regions outside the United States represented approximately 40%–50% of consolidated net sales in each year from 2022 through 2024, rather than disclosing an exact annual percentage for every year.
Currency exposure is broader than sales geography. More than 40% of consolidated net sales were denominated in foreign currencies in each of 2022–2024, while approximately 30% of total operating expenses were denominated in foreign currencies over the same period.
At non-U.S. subsidiaries, approximately 80% of cost of goods sold was denominated in U.S. dollars in each year from 2022 through 2024. This describes currency denomination, not where those costs originated.
The company’s non-U.S. regional groupings include EMEA, Japan, Korea and Rest of World. Approximate percentages and ranges remain labeled that way because exact annual values were not disclosed.
Source: Acushnet Holdings Corp. Form 10-K for the year ended December 31, 2024 and Fourth Quarter and Full Year 2024 Financial Results.
Acushnet Profitability, Investment and Cash Flow
Acushnet’s 2024 cost structure included $1,269.364 million of cost of goods sold, $801.600 million of selling, general and administrative expense, and $67.841 million of research and development expense.
R&D expense increased $3.0 million from 2023, with the company attributing part of the increase to employee-related and product-introduction costs. Under the company policy, R&D is expensed as incurred.
| 2024 consolidated measure | Amount or rate | Definition |
|---|---|---|
| Cost of goods sold | $1,269.364 million | GAAP expense |
| Selling, general and administrative expense | $801.600 million | GAAP expense |
| Research and development expense | $67.841 million | Expensed as incurred |
| Net interest expense | $52.637 million | GAAP net expense |
| Effective tax rate | 19.2% | Versus 17.8% in 2023 |
Net interest expense was $52.637 million in 2024. The effective tax rate was 19.2%, compared with 17.8% in 2023; the company attributed changes to jurisdictional earnings mix and valuation allowance.
Operating cash flow was $245.108 million in 2024, compared with $371.827 million in 2023. Capitalized software development costs were $1.7 million in 2024, while depreciation and amortization related to property, plant and equipment was $41.9 million.
Source: Acushnet Holdings Corp. Form 10-K for the year ended December 31, 2024.
Acushnet Operations, Manufacturing and Balance Sheet
During the 2024 Form 10-K reporting period, Acushnet had approximately 200 R&D scientists, chemists, engineers and technicians in its global R&D organization. This is an approximate R&D team size, not total company employment.
The three company-owned golf-ball facilities in the United States and Thailand encompassed approximately 600,000 square feet. The footprint is a combined approximate figure for those facilities.
At December 31, 2024, unrestricted cash and cash equivalents were $51.4 million, excluding restricted cash. That amount included $9.9 million attributable to the FootJoy golf-shoe variable interest entity, and approximately 95.0% of unrestricted cash was held by subsidiaries outside the United States.
| Balance-sheet or financing measure | 2024 amount or date | Scope |
|---|---|---|
| Accounts receivable, net | $218.368 million | Net of estimated credit-loss allowance |
| Inventories | $575.964 million | Includes $3.667 million attributable to the VIE |
| Total long-lived assets | $325.747 million | Geographic-note total, not total assets |
| Credit facility maturity | August 2, 2027 | Contractual financing date |
Accounts receivable, net, were $218.368 million at December 31, 2024, and inventories were $575.964 million. Inventories included $3.667 million attributable to the variable interest entity.
Total long-lived assets were $325.747 million at December 31, 2024, while United States long-lived assets were $237.097 million. These are long-lived-asset measures, not total assets or sales.
The second amended credit facility matures on August 2, 2027. This is a contractual financing fact rather than a performance measure.
Source: Acushnet Holdings Corp. Form 10-K for the year ended December 31, 2024.