Golf’s endlessly fickle nature means there’s a constant churn happening at all times. Players break through, others falter, and at any moment, form can flip. Outside of the top few stars who earn that title because of their frequent stellar play, there’s little consistency from year to year.

Last week, we looked at the five players who improved their stock the most over the 2025 FedExCup season. Players like Tommy Fleetwood, J.J. Spaun and Ben Griffin all sit in very different positions than they began the year. The inverse is also true, and it’s the subject of today’s article.

So, whose stock fell the most in 2025?

Max Homa

When U.S. Ryder Cup captain Keegan Bradley announced his Ryder Cup captain’s picks last week, there was no mention or cursory thought paid to Max Homa. That reality would have felt incomprehensible two years ago when Homa was the beacon of light in an otherwise dark U.S. defeat in Rome. It would have felt similar, though slightly more plausible, after last year’s Presidents Cup, as Homa’s game showed signs of deterioration, but he remained an easy selection.

That it wasn’t a conversation this go around speaks to Homa’s fall from grace in 2025. His play struggled mightily this season. His T5 at the John Deere Classic and T12 at the Masters were Homa’s only top-25 finishes. Despite playing in all Signature Events, Homa missed the FedExCup Playoffs comfortably and ranks 111th in the FedExCup entering the fall. He’s 119th in the Official World Golf Ranking, his worst position since January 2020.

Homa has his status locked up through 2028, so keeping his card is not a concern. One would still expect Homa to operate with some urgency this fall, though, as the American hopes to turn his form around in time for the start of 2026.

Sahith Theegala

Theegala’s drop is largely injury-related. The TOUR winner spent a large chunk of the summer sidelined by an oblique injury that then caused a flare-up in his neck to prolong the impacts.

In a Q&A with PGATOUR.COM this week, Theegala revealed he initially injured his oblique during a TGL match over the winter. Worried about what a lack of tournament reps would do to his prep for the Masters, Theegala played through the pain but struggled to muster good results. The Masters was Theegala’s last cut made in an individual stroke play event. He finished 69th in a 72-man, no cut RBC Heritage the following week and finished 18th as a team in New Orleans. Since then, Theegala has not played four rounds of tournament golf, missing his last four cuts before missing the postseason.

After playing through the injury in the beginning, he took two months off in the middle of the year to get healthy. He returned for The Open Championship and played both the 3M Open and the Wyndham Championship, feeling pain-free but needing extra time to work off the rust and regain strength. With a month away and that extra prep in hand, Theegala is bullish about his game.

“I’ve really been hitting the gym hard and gained my weight back and honestly I feel stronger than I did even last year so it's gonna be fun, feeling good," he said.

Theegala is 147th in the FedExCup and down to 67th in the Official World Golf Ranking. He has status through 2026, but will look to spend the fall rising up the standings to secure Signature Event spots.

Tom Kim

Count Tom Kim among the big names who will be gunning for Signature Event spots this fall. The 23-year-old has been on both sides of the coin, exempt into all of them for 2023 before missing out on a handful in 2024. It’s much easier to live the former life than the latter.

Kim had the most disappointing season of his career in 2025, failing to qualify for the FedExCup Playoffs for the first time and managing just two top-25s, a career low. He had 28 such finishes over the previous three seasons.

Kim’s struggles were partly physical and mental. Kim discussed the issues with PGATOUR.COM this summer, detailing that he was trying to play too perfectly, which led to an unsustainable mental approach that hindered him. Along with that, Kim spent the second half of the season without a dedicated swing coach, content to try and find the solutions himself. Kim attributed some of the struggles to offseason work he put in ahead of 2025 aimed at getting fitter. That led to increased ball speed and stamina, but he lost some of the DNA of his swing in the process and spent all year trying to find it again.

As a result, Kim dropped from 21st in the OWGR to 82nd and will start the FedExCup Fall at 94th in the standings.

Matthieu Pavon

Once as high as No. 20 in the world after an impressive top-five of the 2024 U.S. Open, TOUR winner Matthieu Pavon has plummeted in the rankings – now 121st entering the FedExCup Fall.

It speaks to the difficulties Pavon has gone through over the last nine months. Playing in 22 events, including every limited-field Signature Event, Pavon didn’t net a single top-40.

The day after his season ended at the Wyndham Championship, Pavon publicly announced he was returning to work with his former swing coach, Jamie Gough.

“Happy to announce that Jamie Gough is back on my team! I’ve recently explored different approaches, but Jamie is the one who already knows my swing and its DNA. At this stage, it felt natural for us to reconnect for what’s next,” Pavon wrote on social media.

Pavon and Gough split ahead of the 2025 season, with the Frenchman bringing Mark Blackburn aboard for new perspectives. But Pavon is now returning to a familiar face, hoping he can re-find familiar form.

Adam Hadwin

Could Adam Hadwin go from guaranteed Signature Events starts to without a TOUR card? That’s on the table if the Canadian doesn’t turn it around this fall, and it would mark uncharted territory. While players like Homa and Pavon went through similarly different seasons, they have status to fall back on in 2026, thanks to their recent wins. Hadwin, who hasn’t won since 2017, doesn’t have the same benefits.

Instead, it’s entirely plausible Hadwin could be the only player on TOUR this season to lose his status completely after finishing in the top-50 in 2024. That’s not territory that any player would like to occupy.

Hadwin amassed only two top-25s in 2023 starts, finishing 136th in the FedExCup. He’s currently 145th in the Official World Golf Ranking.