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Side-by-side financial comparison of Acushnet Holdings Corp. (GOLF) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
Acushnet Holdings Corp. is the larger business by last-quarter revenue ($477.2M vs $296.1M, roughly 1.6× Upstart Holdings, Inc.). Upstart Holdings, Inc. runs the higher net margin — 6.3% vs -7.3%, a 13.6% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 7.2%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $-23.3M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs -17.9%).
The Acushnet Company is an American company focused on the golf market. The company operates a series of brands that manufacture golf equipment, clothing and accessories.
Upstart is an AI lending platform that partners with banks and credit unions to provide consumer loans using non-traditional variables, such as education and employment, to predict creditworthiness.
GOLF vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $477.2M | $296.1M |
| Net Profit | $-34.9M | $18.6M |
| Gross Margin | 44.1% | — |
| Operating Margin | -3.8% | 6.4% |
| Net Margin | -7.3% | 6.3% |
| Revenue YoY | 7.2% | 35.2% |
| Net Profit YoY | -3027.3% | 776.4% |
| EPS (diluted) | $-0.57 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $477.2M | $296.1M | ||
| Q3 25 | $657.7M | $277.1M | ||
| Q2 25 | $720.5M | $257.3M | ||
| Q1 25 | $703.4M | $213.4M | ||
| Q4 24 | $445.2M | $219.0M | ||
| Q3 24 | $620.5M | $162.1M | ||
| Q2 24 | $683.9M | $127.6M | ||
| Q1 24 | $707.6M | $127.8M |
| Q4 25 | $-34.9M | $18.6M | ||
| Q3 25 | $48.5M | $31.8M | ||
| Q2 25 | $75.6M | $5.6M | ||
| Q1 25 | $99.4M | $-2.4M | ||
| Q4 24 | $-1.1M | $-2.8M | ||
| Q3 24 | $56.2M | $-6.8M | ||
| Q2 24 | $71.4M | $-54.5M | ||
| Q1 24 | $87.8M | $-64.6M |
| Q4 25 | 44.1% | — | ||
| Q3 25 | 48.5% | — | ||
| Q2 25 | 49.2% | — | ||
| Q1 25 | 47.9% | — | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 54.4% | — | ||
| Q1 24 | 53.4% | — |
| Q4 25 | -3.8% | 6.4% | ||
| Q3 25 | 14.1% | 8.5% | ||
| Q2 25 | 15.2% | 1.8% | ||
| Q1 25 | 16.3% | -2.1% | ||
| Q4 24 | -1.2% | -2.2% | ||
| Q3 24 | 13.2% | -27.8% | ||
| Q2 24 | 15.5% | -43.5% | ||
| Q1 24 | 17.2% | -52.8% |
| Q4 25 | -7.3% | 6.3% | ||
| Q3 25 | 7.4% | 11.5% | ||
| Q2 25 | 10.5% | 2.2% | ||
| Q1 25 | 14.1% | -1.1% | ||
| Q4 24 | -0.3% | -1.3% | ||
| Q3 24 | 9.1% | -4.2% | ||
| Q2 24 | 10.4% | -42.7% | ||
| Q1 24 | 12.4% | -50.5% |
| Q4 25 | $-0.57 | $0.20 | ||
| Q3 25 | $0.81 | $0.23 | ||
| Q2 25 | $1.25 | $0.05 | ||
| Q1 25 | $1.62 | $-0.03 | ||
| Q4 24 | $0.02 | $-0.01 | ||
| Q3 24 | $0.89 | $-0.07 | ||
| Q2 24 | $1.11 | $-0.62 | ||
| Q1 24 | $1.35 | $-0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $652.4M |
| Total DebtLower is stronger | $926.2M | — |
| Stockholders' EquityBook value | $783.6M | $798.8M |
| Total Assets | $2.3B | $3.0B |
| Debt / EquityLower = less leverage | 1.18× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $652.4M | ||
| Q3 25 | — | $489.8M | ||
| Q2 25 | — | $395.9M | ||
| Q1 25 | — | $599.8M | ||
| Q4 24 | — | $788.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $926.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $753.1M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $783.6M | $798.8M | ||
| Q3 25 | $852.3M | $743.7M | ||
| Q2 25 | $808.5M | $722.0M | ||
| Q1 25 | $780.3M | $676.6M | ||
| Q4 24 | $765.2M | $633.2M | ||
| Q3 24 | $863.9M | $595.5M | ||
| Q2 24 | $863.7M | $594.7M | ||
| Q1 24 | $883.7M | $612.8M |
| Q4 25 | $2.3B | $3.0B | ||
| Q3 25 | $2.4B | $2.9B | ||
| Q2 25 | $2.4B | $2.5B | ||
| Q1 25 | $2.4B | $2.3B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | $2.3B | $1.8B | ||
| Q1 24 | $2.4B | $1.9B |
| Q4 25 | 1.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-338.0K | $108.6M |
| Free Cash FlowOCF − Capex | $-23.3M | $108.4M |
| FCF MarginFCF / Revenue | -4.9% | 36.6% |
| Capex IntensityCapex / Revenue | 4.8% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $120.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-338.0K | $108.6M | ||
| Q3 25 | $163.1M | $-122.6M | ||
| Q2 25 | $151.9M | $-120.2M | ||
| Q1 25 | $-120.3M | $-13.5M | ||
| Q4 24 | $-1.1M | $-110.9M | ||
| Q3 24 | $144.1M | $179.3M | ||
| Q2 24 | $211.6M | $65.3M | ||
| Q1 24 | $-109.5M | $52.6M |
| Q4 25 | $-23.3M | $108.4M | ||
| Q3 25 | $136.9M | $-122.7M | ||
| Q2 25 | $138.0M | $-120.3M | ||
| Q1 25 | $-131.5M | — | ||
| Q4 24 | $-33.2M | — | ||
| Q3 24 | $123.7M | $179.2M | ||
| Q2 24 | $196.8M | $65.3M | ||
| Q1 24 | $-116.8M | $51.9M |
| Q4 25 | -4.9% | 36.6% | ||
| Q3 25 | 20.8% | -44.3% | ||
| Q2 25 | 19.2% | -46.7% | ||
| Q1 25 | -18.7% | — | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | 19.9% | 110.5% | ||
| Q2 24 | 28.8% | 51.1% | ||
| Q1 24 | -16.5% | 40.6% |
| Q4 25 | 4.8% | 0.1% | ||
| Q3 25 | 4.0% | 0.0% | ||
| Q2 25 | 1.9% | 0.0% | ||
| Q1 25 | 1.6% | 0.0% | ||
| Q4 24 | 7.2% | 0.0% | ||
| Q3 24 | 3.3% | 0.1% | ||
| Q2 24 | 2.2% | 0.0% | ||
| Q1 24 | 1.0% | 0.5% |
| Q4 25 | — | 5.82× | ||
| Q3 25 | 3.36× | -3.86× | ||
| Q2 25 | 2.01× | -21.43× | ||
| Q1 25 | -1.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 2.96× | — | ||
| Q1 24 | -1.25× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
