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Callaway Golf Company

CALY Consumer Cyclical Leisure

Callaway Golf Company’s revenue for fiscal 2025 (year ended December 2025) was $2.1 billion, down 0.85% from fiscal 2024.

Revenue
+1.97%
EPS
+281.8%
Free cash flow
+102.0%
Total debt
−96.6%

Quarter to June 2026, against a year earlier

15.96 0.64 −3.86%
Market cap
$2.8B
P/E
0.0×
Fwd P/E
25.8×
Dividend yield
0.00%
F-score
6/9
Altman Z
0.67
Beneish M
−3.53
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 151.57
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 1 2 — — 1 — — 2 — — —
Insider Ownership 13.91%

Capital & Financial Ratios $m

Size
Market Cap 2,840.00
Revenue ttm 2,129.80
Net income ttm 80.60
Free cash flow ttm 338.60
Net debt Q (227.50)
Valuation
P/E 0.00
Forward P/E 25.80
Price / sales 1.35
Forward P/S Powerpack
Price / FCF 8.47
Price / book 1.33
Financial health
Current ratio Q 3.04 (at or above 1.5: strong)
Debt / equity Q 0.02 (at or below 0.5: strong)
Interest coverage Q 23.83
Growth
Revenue growth Q +1.97% (above 0%: growing)
Operating income growth Q +54.51% (above 0%: growing)
EPS, this year +268.78% (at or above 15%: strong)
EPS, next year A +17.49% (at or above 15%: strong)
Revenue, next year A +0.19%
EPS, past 5 yrs —
EPS, next 5 yrs A +68.58% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 1.3×; over the ten years it ranged from 0.8× in 2023 to 2.9× in 2021.
P/S against its own 10 years 78.03%
10-year low 10-year high
P/B against its own 10 years 45.25%
10-year low 10-year high
EV/Sales against its own 10 years 40.12%
10-year low 10-year high
EV/FCF against its own 10 years 17.16%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2017–25
−100.0%/yr
  1. 0.04 ’17
  2. 0.04 ’18 +0
  3. 0.04 ’19 +0
  4. 0.02 ’20 −50
  5. 0.00 ’21 −100
  6. 0.00 ’22
  7. 0.26 ’23
  8. 1.19 ’24 +365
  9. 0.00 ’25 −100
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 394 445 903 278
Receivables 201 137 123 316
Inventory 794 628 625 518
Other 183 62 70 96
1,628 1,601 5,936 1,247
2023 2024 2025 Q'26
Payables 481 267 296 236
ST’ Debt 55 40 810 47
Other 102 17 19 22
948 826 4,368 410

Compound Annual Growth %

10y 5y 3y
Sales 9.34% 5.32% (19.81%)
Cash Flow 27.01% 7.92% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 17.49% 25.08% (18.16%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.35 Actual 0.39

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −999,900.00 −0.25 Beat by 999,899.75
Q1 FY26 0.42 0.56 Beat by 0.14
Q2 FY26 0.35 0.39 Beat by 0.04
Q3 FY26 0.01 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.47 0.40 — — —
’25 0.01 0.11 (0.08) (2.27) (2.20)
’24 0.04 0.32 (0.02) (8.23) (7.23)
’23 0.13 0.59 0.16 (0.42) 0.50
’22 0.44 0.53 0.20 (0.39) 0.82
’21 2.19 0.47 (0.09) (0.14) 1.82
’20 0.30 (1.78) 0.54 (0.43) (1.35)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 688 612 — — —
’25 630 600 463 368 2,060
’24 640 614 452 371 2,078
’23 1,167 1,180 1,041 897 2,133
’22 1,040 1,116 989 851 3,996
’21 652 914 857 712 3,133
’20 442 297 476 375 1,590
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (169) 250 — — —
’25 (85) 127 228 64 334
’24 (73) 225 187 43 382
’23 (152) 130 250 137 365
’22 (185) 137 83 (70) (35)
’21 (79) 179 146 32 278
’20 (94) 73 143 106 228
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (176) 238 — — —
’25 (93) 118 34 244 302
’24 (139) 140 108 223 331
’23 (292) (11) 111 507 315
’22 (310) 19 (28) (251) (571)
’21 (107) 87 68 (92) (44)
’20 (111) 65 137 97 189
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 871 1,049 1,243 1,701 1,590 3,133 3,996 2,133 2,078 2,060 2,130 +10.0% 2,064 2,132 2,190 +2.1%
Gross margin, % 44.19 45.81 46.54 45.08 41.37 59.47 60.34 43.47 42.69 42.11 44.79 (2.1) pt
EBT 58 68 131 96 (127) 351 142 130 112 88 157 +4.6%
EBT margin, % 6.70 6.49 10.56 5.63 (8.02) 11.19 3.55 6.07 5.37 4.25 7.35 (2.4) pt
Net income 191 42 105 79 (127) 322 158 100 93 39 81 (16.2%)
Per share, $
Per share, $ Revenue 9.26 11.12 13.14 18.05 16.87 18.53 21.61 11.53 11.31 11.21 11.85 +2.1%
Earnings 2.02 0.43 1.11 0.84 (1.35) 1.90 0.85 0.51 (7.88) (2.23) (1.42) n/m
Cash flow 0.83 1.25 0.98 0.92 2.42 1.65 (0.19) 1.97 2.08 1.82 2.07 +9.2%
Capex (0.17) (0.27) (0.39) (0.58) (0.42) (1.91) (2.90) (0.27) (0.28) (0.17) (0.19) +0.1%
Free cash flow 0.65 0.98 0.59 0.34 2.01 (0.26) (3.09) 1.70 1.80 1.64 1.88 +10.8%
Book value 6.47 6.99 7.76 8.14 7.17 21.78 20.41 20.96 13.11 11.26 12.03 +6.3%
Shares, m 94 94 95 94 94 169 185 185 184 184 183 +7.7%
Valuation, ×
Valuation, × P/E 5.63 32.09 13.78 25.24 0.00 10.59 22.90 28.46 0.00 0.00 0.00 13.9
P/S 1.23 1.24 1.16 1.17 1.42 1.48 0.91 0.61 0.69 1.04 1.35 1.1
P/B 1.76 1.97 1.97 2.60 3.35 1.26 0.96 0.68 0.60 1.04 1.33 1.6
EV/Sales 1.10 1.25 1.15 1.46 1.62 1.70 1.21 0.89 1.18 1.31 1.24 1.3
EV/FCF 15.52 14.29 25.82 77.98 13.59 (120.93) (8.48) 12.14 7.41 8.91 7.80 4.6
Cash, $m
Cash, $m Operating cash flow 78 118 92 87 228 278 (35) 365 382 334 373 +17.6%
Capex (16) (26) (37) (55) (39) (322) (535) (50) (51) (32) (34) +7.9%
Free cash flow 62 92 56 32 189 (44) (571) 315 331 302 339 +19.3%
Balance, $m
Balance, $m Working capital 274 152 222 266 521 300 343 681 775 1,568 838 +21.4%
Net debt (113) 14 (14) 488 307 681 1,196 1,179 1,009 558 (227) n/m
Shareholders’ equity 609 659 734 767 676 3,683 3,774 3,878 2,408 2,069 2,162 +14.6%
Returns, %
Returns, % ROA 26.51 4.55 10.25 5.27 (6.44) 6.62 1.93 1.07 (17.28) (5.49) (5.07) (32.0) pt
ROIC 5.57 7.32 11.15 6.60 (6.71) 2.93 3.23 2.40 2.80 3.05 6.58 (2.5) pt
ROE 37.18 6.44 15.03 10.58 (17.59) 14.78 4.23 2.48 (46.06) (18.29) (11.33) (55.5) pt
People
People Employees 1,700 2,100 2,400 4,200 4,200 24,800 32,000 32,000 30,000 28,000 — +36.5%
Revenue/emp, $m 0.51 0.50 0.52 0.41 0.38 0.13 0.12 0.07 0.07 0.07 — (19.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Callaway Golf Company vs peers in Leisure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LTH Life Time Group Holdings, Inc. $10.7B 25.2× 27.6× +14.17% (above 0%: growing) +1.13% (above 0%: growing) −193.08% (below 0%: shrinking) 46.89% 17.68% Compare
GOLF Acushnet $4.9B 22.5× 21.3× −1.28% (below 0%: shrinking) +4.56% (above 0%: growing) +39.79% (above 0%: growing) 49.59% 12.37% Compare
PLNT Planet Fitness, Inc. $4.5B 20.4× 18.0× +8.97% (above 0%: growing) +26.09% (above 0%: growing) −62.29% (below 0%: shrinking) 81.84% 28.19% Compare
MAT Mattel, Inc. $4.3B 10.9× 9.7× +10.48% (above 0%: growing) n/m +29.42% (above 0%: growing) 48.17% 0.97% Compare
YETI YETI Holdings, Inc. $3.4B 20.1× 15.1× +8.52% (above 0%: growing) +53.23% (above 0%: growing) −18.84% (below 0%: shrinking) 66.66% 19.33% Compare
OSW OneSpaWorld Holdings Limited $3.1B 36.6× 32.6× +6.97% (above 0%: growing) +16.04% (above 0%: growing) +58.18% (above 0%: growing) 17.97% 10.83% Compare
CALY Callaway Golf Company $2.8B — (loss-making) 25.8× +1.97% (above 0%: growing) +281.82% (above 0%: growing) +101.95% (above 0%: growing) 50.10% 18.75%
PTON Peloton Interactive, Inc. $2.5B 17.2× 16.2× +1.53% (above 0%: growing) +633.33% (above 0%: growing) +112.76% (above 0%: growing) 61.27% 0.00% Compare
PRKS United Parks & Resorts Inc. $1.7B 14.6× 10.4× −1.41% (below 0%: shrinking) −6.85% (below 0%: shrinking) −20.51% (below 0%: shrinking) 47.49% 24.23% Compare
Median of peers $3.9B 20.3× 17.1× +7.74% +16.04% +5.29% 48.88% 15.03%

All 28 Leisure stocks →

Pay and ownership Proxy statement filed 8 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 13.97m 26.44m 48.60
2024 9.38m (2.13m) 32.74
2023 11.11m (2.98m) 59.73
2022 11.03m (126.86k) 82.26
2021 27.14m 39.52m 114.29

Ownership

Directors and executive officers, together 2.91%
BlackRock, Inc. 11.14%
Thomas G. Dundon 10.25%
PEP TG Investments LP 6.21%
Dimensional Fund Advisors LP 5.06%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Callaway Golf Company (CALY) Latest News

6 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · StockStory
Impact 3 · · Associated Press
Impact 3 · · PR Newswire

29 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Zacks
Impact 3 · · PR Newswire

19 Oct

Impact 4 · · PR Newswire

14 Oct

Impact 4 · · Simply Wall St.

13 Oct

Impact 3 · · StockStory

11 Sep

Impact 3 ·

12 Aug

Impact 3 ·

11 Aug

Impact 3 · · The Motley Fool transcript

5 Aug

Impact 4 ·

4 Aug

Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

3 Aug

Impact 3 ·

28 Jul

Impact 3 ·

25 Jul

Impact 3 ·

22 Jul

Impact 3 ·

21 Jul

Impact 3 · · frontofficesports.com

8 Jun

Impact 3 · · Simply Wall St.

1 Jun

Impact 3 · · PR Newswire

21 May

Impact 4 · · Simply Wall St.

19 May

Impact 3 · · Zacks

17 May

Impact 3 · · StockStory

15 May

Impact 3 · · The Motley Fool

CALY metrics, ten years each

stockrow.com/CALY · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com