Acushnet (GOLF) vs YETI Holdings, Inc. (YETI)

Acushnet and YETI Holdings, Inc. are both Leisure companies. Acushnet is the larger, with a market value of $4.8B against $3.1B — 1.6× the size. YETI Holdings, Inc. trades at the lower P/E: 18.1× against 22.6×. Acushnet grew revenue faster over the last twelve months: 8.77% against 6.24%. YETI Holdings, Inc. has the higher net margin (9.24% vs 8.12%) and the higher return on invested capital (22.7% vs 12.8%). Across the 22 metrics below, YETI Holdings, Inc. leads on 17 and Acushnet on 5.

Valuation

Metric GOLF YETI Leisure median
P/E 22.56 18.15 17.42
P/S 1.83 1.63 1.02
P/B 5.36 5.18 2.13
Price to free cash flow 31.30 16.37 11.49
EV/EBITDA 13.75 10.93 9.97
EV/Sales 2.16 1.65 2.00
Earnings yield 4.43% 5.51% 2.85%
Free cash flow yield 3.20% 6.11% 3.64%

Profitability

Metric GOLF YETI Leisure median
Gross margin 49.15% 59.21% 48.02%
Operating margin 13.73% 12.18% 3.08%
Net margin 8.12% 9.24% 2.58%
Free cash flow margin 6.79% 9.97% 2.13%
Return on equity 25.36% 25.32% 0.00%
Return on assets 8.84% 13.73% 0.05%
Return on invested capital 12.79% 22.66% 3.95%

Growth

Metric GOLF YETI Leisure median
Revenue growth (TTM) 8.77% 6.24% 3.28%
EPS growth (last fiscal year) (7.72%) (0.98%) —
Revenue growth, 5-year CAGR 9.68% 11.35% 4.22%
Net income growth, 5-year CAGR 14.45% 1.20% 0.00%

Health

Metric GOLF YETI Leisure median
Debt to equity 1.04 0.17 0.02
Current ratio 2.55 1.75 1.76
Net debt to EBITDA 2.50 (0.43) 1.85

Dividend

Metric GOLF YETI Leisure median
Dividend yield 1.18% — 2.86%
Payout ratio 0.23 0.00 0.00

Size

Metric GOLF YETI Leisure median
Market cap 4.81b 3.06b 293.27m

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