Callaway Golf Company (CALY) vs OneSpaWorld Holdings Limited (OSW)

Callaway Golf Company and OneSpaWorld Holdings Limited are both Leisure companies. Callaway Golf Company is the larger, with a market value of $2.6B against $2.3B — 1.1× the size. OneSpaWorld Holdings Limited trades at the lower P/E: 28.7× against 29.5×. Callaway Golf Company grew revenue faster over the last twelve months: 111.8% against 9.82%. OneSpaWorld Holdings Limited has the higher net margin (8.02% vs −12.4%) and the higher return on invested capital (9.04% vs 6.58%). Across the 21 metrics below, Callaway Golf Company leads on 13 and OneSpaWorld Holdings Limited on 8.

Valuation

Metric CALY OSW Leisure median
P/E 29.47 28.65 17.42
P/S 1.22 2.32 1.02
P/B 1.20 4.02 2.13
Price to free cash flow 7.66 29.90 11.49
EV/EBITDA 9.40 20.29 9.97
EV/Sales 1.11 2.36 2.00
Earnings yield 3.39% 3.49% 2.85%
Free cash flow yield 13.05% 3.34% 3.64%

Profitability

Metric CALY OSW Leisure median
Gross margin 44.79% 16.79% 48.02%
Operating margin 9.56% 8.92% 3.08%
Net margin (12.37%) 8.02% 2.58%
Free cash flow margin 15.90% 7.75% 2.13%
Return on equity (11.33%) 14.32% 0.00%
Return on assets (5.07%) 11.08% 0.05%
Return on invested capital 6.58% 9.04% 3.95%

Growth

Metric CALY OSW Leisure median
Revenue growth (TTM) 111.77% 9.82% 3.28%
EPS growth (last fiscal year) 102.66% 0.00% —
Revenue growth, 5-year CAGR 5.32% 51.37% 4.22%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CALY OSW Leisure median
Debt to equity 0.02 0.14 0.02
Current ratio 3.04 2.91 1.76
Net debt to EBITDA 3.09 0.62 1.85

Dividend

Metric CALY OSW Leisure median
Dividend yield — — 2.86%
Payout ratio 0.00 0.00 0.00

Size

Metric CALY OSW Leisure median
Market cap 2.58b 2.29b 293.27m

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