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Callaway Golf vs Acushnet: revenue, profit, margins and growth compared

Callaway Golf brought in $2.1B of revenue in fiscal 2025, Acushnet $2.6B in fiscal 2025. Revenue changed by -0.8% at Callaway Golf and +4.1% at Acushnet on the year before, so Acushnet grew faster. Callaway Golf kept -19.9% of its revenue as net profit, Acushnet 7.4%. Free cash flow was $302.2M at Callaway Golf and $120M at Acushnet.

Side by side, latest fiscal year

CALYGOLF
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.1B$2.6B
Revenue growth-0.8%+4.1%
Net income-$409.3M$188.5M
Net margin-19.9%7.4%
Free cash flow$302.2M$120M
Free cash flow margin14.7%4.7%
Earnings per share (diluted)-$2.20$3.11
Cash$903.2M$50.1M
Debt$1.4B$933.4M
Price to earningsn/a26.7
Market value$2.6B$4.8B
Dividend yieldn/a1.13%
Rank by revenue in sector#350 of 778 · Consumer discretionary#317 of 778 · Consumer discretionary

Over the years

Revenue
CALY FY2018: $1.2BCALY FY2019: $1.7BCALY FY2020: $1.6BCALY FY2021: $3.1BCALY FY2022: $4BCALY FY2023: $2.1BCALY FY2024: $2.1BCALY FY2025: $2.1BGOLF FY2018: $1.6BGOLF FY2019: $1.7BGOLF FY2020: $1.6BGOLF FY2021: $2.1BGOLF FY2022: $2.3BGOLF FY2023: $2.4BGOLF FY2024: $2.5BGOLF FY2025: $2.6BFY18FY19FY20FY21FY22FY23FY24FY25
CALY $2.1BGOLF $2.6B
Net income
CALY FY2018: $104.7MCALY FY2019: $79.4MCALY FY2020: -$126.9MCALY FY2021: $322MCALY FY2022: $157.9MCALY FY2023: $95MCALY FY2024: -$1.4BCALY FY2025: -$409.3MGOLF FY2018: $99.9MGOLF FY2019: $121.1MGOLF FY2020: $96MGOLF FY2021: $178.9MGOLF FY2022: $199.3MGOLF FY2023: $198.4MGOLF FY2024: $214.3MGOLF FY2025: $188.5MFY18FY19FY20FY21FY22FY23FY24FY25
CALY -$409.3MGOLF $188.5M
Net margin
CALY FY2018: 8.4%CALY FY2019: 4.7%CALY FY2020: -8.0%CALY FY2021: 10.3%CALY FY2022: 4.0%CALY FY2023: 4.5%CALY FY2024: -69.7%CALY FY2025: -19.9%GOLF FY2018: 6.1%GOLF FY2019: 7.2%GOLF FY2020: 6.0%GOLF FY2021: 8.3%GOLF FY2022: 8.8%GOLF FY2023: 8.3%GOLF FY2024: 8.7%GOLF FY2025: 7.4%FY18FY19FY20FY21FY22FY23FY24FY25
CALY -19.9%GOLF 7.4%
Revenue growth
CALY FY2019: +36.9%CALY FY2020: -6.6%CALY FY2021: +97.1%CALY FY2022: +27.5%CALY FY2023: -46.6%CALY FY2024: -2.6%CALY FY2025: -0.8%GOLF FY2019: +2.9%GOLF FY2020: -4.1%GOLF FY2021: +33.2%GOLF FY2022: +5.7%GOLF FY2023: +4.9%GOLF FY2024: +3.2%GOLF FY2025: +4.1%FY19FY20FY21FY22FY23FY24FY25
CALY -0.8%GOLF +4.1%
Free cash flow
CALY FY2018: $55.5MCALY FY2019: $31.8MCALY FY2020: $189MCALY FY2021: -$44MCALY FY2022: -$567.4MCALY FY2023: $314.7MCALY FY2024: $333.3MCALY FY2025: $302.2MGOLF FY2018: $130.9MGOLF FY2019: $101.3MGOLF FY2020: $239.8MGOLF FY2021: $276.5MGOLF FY2022: -$129.2MGOLF FY2023: $296.5MGOLF FY2024: $170.5MGOLF FY2025: $120MFY18FY19FY20FY21FY22FY23FY24FY25
CALY $302.2MGOLF $120M

Fiscal years as each company reports them; the two may end in different months.

Questions about Callaway Golf and Acushnet

Which is bigger by revenue, Callaway Golf or Acushnet?

Acushnet is bigger by revenue: $2.6B in fiscal 2025, against $2.1B for Callaway Golf in fiscal 2025.

Which keeps more of its revenue as profit, Callaway Golf or Acushnet?

Callaway Golf had a net margin of -19.9% in fiscal 2025; Acushnet had 7.4% in fiscal 2025.

Which grew revenue faster, Callaway Golf or Acushnet?

In their latest fiscal years revenue changed by -0.8% at Callaway Golf and +4.1% at Acushnet.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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