Discounted Cash Flow

Acushnet Holdings Corp.

GOLF · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.6b $45.0m $86.0m 2.9% $0.74
2017 $1.6b (-0.8%) $92.1m (104.6%) $-45.9m (-153.3%) 5.9% (106.2%) $1.24 (67.6%)
2018 $1.6b (4.7%) $99.9m (8.4%) $130.9m (385.4%) 6.1% (3.5%) $1.34 (8.1%)
2019 $1.7b (2.9%) $121.1m (21.2%) $101.3m (-22.6%) 7.2% (17.8%) $1.61 (20.1%)
2020 $1.6b (-4.1%) $96.0m (-20.7%) $239.8m (136.6%) 6.0% (-17.3%) $1.29 (-19.9%)
2021 $2.1b (33.2%) $178.9m (86.3%) $276.5m (15.3%) 8.3% (39.8%) $2.40 (86.0%)
2022 $2.3b (5.7%) $199.3m (11.4%) $-129.2m (-146.7%) 8.8% (5.4%) $2.77 (15.4%)
2023 $2.4b (4.9%) $198.4m (-0.4%) $296.5m (329.5%) 8.3% (-5.1%) $2.96 (6.9%)
2024 $2.5b (3.2%) $214.3m (8.0%) $170.5m (-42.5%) 8.7% (4.7%) $3.38 (14.2%)
2025 $2.6b (4.1%) $188.5m (-12.0%) $120.0m (-29.6%) 7.4% (-15.5%) $3.13 (-7.4%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model