Callaway Golf Company CALY R2K

Consumer Cyclical · Leisure · United States

https://www.callawaygolf.com

Callaway Golf Company designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. It operates in two business segments: Golf Equipment; and Apparel, Gear and Other. The company provides drivers, fairway woods, hybrids, irons, and wedges under the Callaway brands; packaged sets under the Callaway and Strata brands; and putters under Odyssey brand. It designs, manufactures, and sells golf clubs, golf balls, apparel, bags, and other accessories under TravisMathew and OGIO brand. It sells its products through golf retailers, sporting goods retailers, online retailers, mass merchants, department stores, third-party distributors, and merchants, and directly to consumers through its retail stores and websites. The company was formerly known as Topgolf Callaway Brands Corp. and changed its name to Callaway Golf Company in January 2026. The company was incorporated in 1982 and is headquartered in Carlsbad, California.

Market & Price

Market Cap

$2.77B

Current Price

$15.40

High / Low (52W)

$17.52 / $5.96

Beta

0.96

Valuation

Stock P/E

59.23

Industry PE

22.37

Forward P/E

20.36

PEG Ratio

0.72

Book Value

$11.68

Price to Book

1.32

P/S

1.31

EV/EBITDA

13.73

Dividend Yield

Profitability & Returns

ROCE

5.08%

ROE

2.21%

ROA

1.94%

Profit Margin

-15.03%

Op Margin

20.10%

EPS (Latest Qtr)

$0.47

EPS (TTM)

$0.26

Balance Sheet & Liquidity

Debt/Equity

0.32

Quick Ratio

1.31

Current Ratio

2.28

Debt

$676.20M

Total Assets

$7.29B

Current Assets

$5.94B

Working Capital

$1.57B

Ownership

Promoter Holding

13.17%

Chg in Prom Hold

FII / Inst Holding

81.67%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$2.94B

Total Revenue (TTM)

$2.12B

EBITDA

$214.50M

Free Cash Flow

$223.45M

Operating Cash Flow

$250.20M

Shares Outstanding

179.76M

Gross Margin

43.00%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-19.81%

Profit 5Y

-119.74%

Revenue (YoY)

9.20%

Earnings (YoY)

2,402.60%

PROS

Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Trading at a high P/E of 59.2.
Revenue declined at -19.8% CAGR over 5 years.
Earnings shrank at -119.7% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Cyclical).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	CALY Callaway Golf Company R2K	15.40	59.23	$2.77B	-	5.08%	2.21%	-19.81%	-119.74%
2	AMZN Amazon.com, Inc. NDXSPXAI	270.64	31.65	$2.91T	-	16.60%	24.29%	11.73%	984.47%
3	TSLA Tesla, Inc. NDXSPXAI	435.79	399.81	$1.64T	-	5.29%	4.90%	5.19%	-32.94%
4	HD The Home Depot, Inc. SPX	317.14	22.52	$316.23B	2.94%	28.92%	128.38%	1.52%	-6.11%
5	MCD McDonald's Corporation SPX	279.20	23.04	$198.37B	2.66%	22.63%	-	5.06%	11.50%
6	TJX The TJX Companies, Inc. SPX	154.75	30.11	$171.12B	1.24%	32.91%	61.25%	6.53%	16.24%
7	BKNG Booking Holdings Inc. NDXSPX	167.43	22.09	$129.74B	0.96%	67.24%	-	16.35%	20.90%
8	LOW Lowe's Companies, Inc. SPX	214.36	18.12	$120.26B	2.24%	29.62%	-	-3.85%	1.11%
9	PDD PDD Holdings Inc. NDX	84.44	8.87	$120.19B	-	28.69%	25.40%	49.00%	45.85%

Quarterly Results

Figures in USD.

Metric	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	308.93M	304.55M	243.60M	191.66M	403.19M	396.31M	262.65M	180.68M	516.20M	446.71M	426.22M	311.94M	442.28M	297.00M	475.56M	374.63M	651.60M	913.60M	856.50M	711.72M	1.04B	1.12B	988.50M	1.17B	1.18B	1.04B	639.70M	614.30M	-	-	629.60M	1.11B	934.00M	-1.08B	687.50M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	346.00M	404.90M	329.70M	33.10M	360.80M
Gross Profit	51.07M	132.39M	110.63M	78.88M	63.11M	147.72M	148.16M	104.90M	79.67M	200.46M	192.70M	115.24M	69.97M	238.43M	206.82M	191.39M	130.15M	195.67M	122.06M	200.73M	139.12M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	283.60M	705.60M	604.30M	-1.11B	326.70M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	180.50M	598.00M	573.60M	-1.03B	188.50M
Operating Income	-	45.33M	20.87M	-5.26M	-	44.21M	49.05M	6.04M	-	85.98M	74.32M	10.70M	-	69.64M	45.20M	40.49M	-	40.68M	-177.45M	63.51M	-32.26M	76.10M	107.30M	76.00M	-54.66M	94.30M	129.00M	68.20M	80.50M	116.00M	73.80M	78.80M	86.70M	-	-	103.10M	107.60M	30.70M	-77.30M	138.20M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	117.20M	218.00M	102.40M	-51.10M	124.20M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.90M	58.70M	59.20M	-115.30M	5.80M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	90.60M	34.10M	-22.30M	64.20M	107.60M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27.20M	13.80M	-7.60M	33.10M	32.70M
Net Income	-30.45M	38.39M	34.10M	-5.87M	123.27M	25.69M	31.44M	3.06M	-19.39M	62.85M	60.87M	9.52M	-28.50M	48.65M	28.93M	31.05M	-29.22M	28.89M	-167.68M	52.43M	-40.58M	272.50M	91.70M	-16.00M	-26.23M	86.70M	105.40M	38.50M	25.00M	117.40M	29.70M	6.50M	62.10M	-	-	2.10M	20.30M	-14.70M	-417.00M	93.10M
Diluted EPS	-0.33	0.40	0.36	-0.06	1.28	0.27	0.33	0.03	-0.20	0.65	0.63	0.10	-0.30	0.50	0.30	0.32	-0.31	0.30	-1.78	0.54	-0.43	2.19	0.47	-0.09	-0.14	0.44	0.53	0.20	0.13	0.59	0.16	0.04	0.32	-	-	0.01	0.11	-0.08	-0.36	0.47
R&D Expense	-	8.23M	8.29M	8.42M	-	8.88M	8.86M	9.15M	-	9.62M	10.71M	9.23M	-	12.54M	13.08M	12.54M	-	13.24M	10.02M	10.14M	-	12.70M	20.30M	15.80M	-	17.50M	18.70M	19.20M	22.80M	22.00M	22.60M	23.20M	27.00M	22.00M	-	15.90M	19.80M	20.10M	-	15.20M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	871.19M	1.05B	1.24B	1.70B	1.59B	-	4.00B	2.13B	2.08B	2.06B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	1.58B	1.21B	1.19B	1.19B
Gross Profit	343.76M	365.50M	311.30M	248.17M	314.76M	357.93M	357.63M	385.01M	480.45M	578.37M	766.79M	657.59M	-	2.41B	927.10M	887.00M	867.60M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	2.12B	733.00M	734.10M	739.50M
Operating Income	-30.53M	-26.60M	-81.09M	-116.23M	-10.76M	30.75M	26.94M	44.17M	78.84M	128.44M	132.67M	-105.50M	-	287.20M	194.10M	152.90M	128.10M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	477.50M	245.90M	219.00M	194.60M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	142.80M	70.70M	63.00M	60.60M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	141.90M	129.50M	111.50M	87.60M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-16.00M	30.00M	18.10M	48.80M
Net Income	-15.26M	-18.80M	-171.82M	-122.95M	-18.92M	16.01M	14.57M	189.90M	40.81M	104.74M	79.41M	-126.90M	-	157.90M	95.00M	-1.45B	-409.30M
Diluted EPS	-0.33	-0.46	-2.82	-1.96	-0.31	0.20	0.17	1.98	0.42	1.08	0.82	-1.35	-	0.82	0.50	-7.88	-2.23
R&D Expense	32.21M	36.38M	34.31M	29.54M	30.94M	31.29M	33.21M	33.32M	36.57M	40.75M	50.58M	46.30M	68.00M	76.40M	61.80M	64.10M	65.50M

Compounded Sales Growth

5 Years:	-19.81%
1 Year:	9.20%

Compounded Profit Growth

5 Years:	-119.74%
1 Year:	2,402.60%

Stock Price Performance

1 Year:	+142.90%
6 Months:	+31.74%
3 Months:	+9.53%
1 Month:	+1.58%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Sep 2018	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	876.01M	727.11M	637.64M	663.86M	624.81M	631.22M	801.28M	991.16M	-	1.05B	1.96B	1.98B	-	8.59B	9.12B	7.64B	7.29B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.52B	1.63B	1.60B	5.94B
Cash & Equivalents	38.34M	78.31M	55.04M	43.02M	52.00M	36.79M	37.63M	49.80M	125.97M	85.67M	106.67M	63.98M	106.67M	366.10M	-	180.20M	393.50M	445.00M	903.20M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	959.20M	794.40M	628.20M	625.30M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	167.30M	200.50M	137.20M	123.20M
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.82B	5.24B	5.23B	5.22B
Current Liabilities	-	-	175.17M	167.78M	161.57M	226.20M	184.13M	178.64M	186.85M	314.37M	-	303.24M	523.25M	391.27M	-	1.18B	947.60M	825.90M	4.37B
Long Term Debt	-	-	-	-	-	-	-	-	0	9.45M	-	7.22M	443.26M	650.56M	-	1.83B	2.50B	1.41B	650.70M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.57B	4.07B	1.64B	1.67B
Total Equity	-	-	684.27M	509.96M	318.99M	284.62M	291.53M	412.94M	598.91M	649.63M	-	724.57M	767.35M	675.64M	-	3.77B	3.88B	2.41B	2.07B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	186.20M	186.92M	186.20M	186.20M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	42.87M	9.63M	10.10M	-28.81M	-8.95M	36.88M	30.58M	77.71M	117.70M	92.28M	86.55M	228.20M	-	-35.10M	364.70M	382.00M	334.00M
Investing Cash Flow	-38.68M	-24.80M	-9.56M	5.54M	-22.53M	-25.07M	-18.41M	8.95M	-230.59M	-38.52M	-535.67M	-59.20M	-	-535.10M	-542.90M	-297.30M	21.60M
Financing Cash Flow	35.11M	-10.82M	-13.29M	32.13M	21.34M	-12.89M	948.00K	-9.25M	69.36M	-75.07M	492.52M	96.10M	-	425.30M	375.80M	-23.60M	91.50M
Capital Expenditure	-38.84M	-22.22M	-28.93M	-18.40M	-13.04M	-10.75M	-14.37M	-16.15M	-26.20M	-36.83M	-54.70M	-39.20M	-	-535.50M	-50.00M	-50.60M	-32.60M
Free Cash Flow	4.03M	-12.58M	-18.83M	-47.21M	-21.99M	26.13M	16.21M	61.56M	91.50M	55.46M	31.85M	189.00M	-	-570.60M	314.70M	331.40M	301.40M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-144.90M	197.60M	61.10M	447.10M
Share Buybacks	-	-	-	-	0	1.01M	1.96M	5.14M	16.62M	22.46M	28.07M	22.20M	38.20M	35.80M	56.00M	31.40M	3.70M
Dividends Paid	11.59M	13.07M	13.09M	11.02M	5.60M	3.10M	3.39M	3.76M	3.77M	3.79M	3.78M	1.90M	0	0	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	44.2%	45.8%	46.5%	45.1%	41.4%	-	60.3%	43.5%	42.7%	42.1%
Operating Margin %	-	-	-	-	-	-	-	5.1%	7.5%	10.3%	7.8%	-6.6%	-	7.2%	9.1%	7.4%	6.2%
Net Margin %	-	-	-	-	-	-	-	21.8%	3.9%	8.4%	4.7%	-8.0%	-	4.0%	4.5%	-69.7%	-19.9%
ROE %	-	-2.7%	-33.7%	-38.5%	-6.6%	5.5%	3.5%	31.7%	6.3%	14.5%	10.3%	-18.8%	-	4.2%	2.4%	-60.1%	-19.8%
ROCE %	-	-3.8%	-14.5%	-24.4%	-2.5%	7.0%	6.0%	7.2%	11.6%	17.1%	9.2%	-6.6%	-	3.9%	2.4%	2.2%	4.4%

Shareholding Pattern

Insiders

13.17%

Institutions

81.67%

Public Float

94.06%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	11.28%	20.28M	$312.35M
2	Providence Equity Partners L.l.c.	6.22%	11.18M	$172.10M
3	Dimensional Fund Advisors LP	5.27%	9.47M	$145.78M
4	Vanguard Portfolio Management LLC	4.82%	8.66M	$133.38M
5	Wellington Management Group, LLP	4.14%	7.44M	$114.52M
6	American Century Companies Inc	3.85%	6.91M	$106.46M
7	Vanguard Capital Management LLC	3.45%	6.19M	$95.39M
8	Leonard Green & Partners, L.P.	3.15%	5.66M	$87.21M
9	State Street Corporation	2.94%	5.28M	$81.39M
10	Shapiro Capital Management LLC	2.89%	5.20M	$80.12M

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CALY · Consumer Cyclical