NYSE : CALY
Callaway Golf Company — Financial statements
Financials · Asset Management · United States
Last price 15.19 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.71B
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Financial statements
Callaway Golf Company (CALY) reported revenue of 2.13B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.13B | 2.06B | 2.08B | 2.13B | 4.00B | 3.13B |
| Cost of Revenue | 1.19B | 1.19B | 1.19B | 1.21B | 2.66B | 2.00B |
| Gross Profit | 943.60M | 867.60M | 887.00M | 927.10M | 1.34B | 1.13B |
| Selling, General & Admin | 678.20M | 668.50M | 669.10M | 668.90M | 970.60M | 849.70M |
| Research & Development | 65.20M | 65.50M | 64.10M | 61.80M | 76.40M | 68.00M |
| Operating Expenses | 743.40M | 734.00M | 733.20M | 730.70M | 1.08B | 927.10M |
| Operating Income | 200.20M | 133.60M | 153.80M | 196.40M | 262.30M | 204.70M |
| Interest Expense | -40.80M | -60.60M | -63.00M | -70.70M | -147.30M | -119.90M |
| Interest & Investment Income | 21.20M | 19.90M | 12.80M | 3.50M | 4.50M | 4.30M |
| Currency Exchange Gain (Loss) | 3.80M | -1.00M | 12.50M | 11.40M | 26.20M | 8.00M |
| Other Non Operating Income (Expenses) | 2.90M | 1.20M | 1.00M | 1.70M | 1.70M | 1.00M |
| EBT Excluding Unusual Items | 158.60M | 93.10M | 117.10M | 142.30M | 147.40M | 98.10M |
| Merger & Restructuring Charges | -5.20M | -3.40M | -900.00K | |||
| Gain (Loss) on Sale of Investments | 4.30M | 252.50M | ||||
| Asset Writedown | -2.10M | -2.10M | -5.50M | |||
| Other Unusual Items | 1.00M | -4.70M | -12.80M | |||
| Pretax Income | 156.60M | 87.60M | 111.50M | 129.50M | 141.90M | 350.60M |
| Income Tax Expense | 76.00M | 48.80M | 18.10M | 30.00M | -16.00M | 28.60M |
| Earnings From Continuing Operations | 80.60M | 38.80M | 93.40M | 99.50M | 157.90M | 322.00M |
| Earnings From Discontinued Operations | -344.00M | -448.10M | -1.54B | -4.50M | ||
| Net Income to Company | -263.40M | -409.30M | -1.45B | 95.00M | 157.90M | 322.00M |
| Net Income | -263.40M | -409.30M | -1.45B | 95.00M | 157.90M | 322.00M |
| Net Income to Common | -263.40M | -409.30M | -1.45B | 95.00M | 157.90M | 322.00M |
| Shares Outstanding (Basic) | 182.75M | 183.70M | 183.70M | 185.00M | 184.90M | 169.10M |
| Shares Outstanding (Diluted) | 182.75M | 185.70M | 199.30M | 201.10M | 201.30M | 176.90M |
| EPS (Basic) | -1.44 | -2.23 | -7.88 | 0.51 | 0.85 | 1.90 |
| EPS (Diluted) | -1.45 | -2.20 | -7.23 | 0.50 | 0.82 | 1.82 |
| Free Cash Flow | 338.70M | 302.20M | 333.30M | 314.70M | -567.40M | -44.00M |
| Free Cash Flow Per Share | 1.85 | 1.63 | 1.67 | 1.56 | -2.82 | -0.25 |
| Gross Margin | 44.30% | 42.11% | 42.69% | 43.47% | 33.53% | 36.12% |
| Operating Margin | 9.40% | 6.49% | 7.40% | 9.21% | 6.57% | 6.53% |
| Profit Margin | -12.37% | -19.87% | -69.68% | 4.45% | 3.95% | 10.28% |
| Free Cash Flow Margin | 15.90% | 14.67% | 16.04% | 14.76% | -14.20% | -1.40% |
| EBITDA | 245.30M | 180.30M | 198.50M | 242.40M | 461.50M | 360.50M |
| EBITDA Margin | 11.52% | 8.75% | 9.55% | 11.37% | 11.55% | 11.51% |
| D&A For EBITDA | 45.10M | 46.70M | 44.70M | 46.00M | 199.20M | 155.80M |
| EBIT | 200.20M | 133.60M | 153.80M | 196.40M | 262.30M | 204.70M |
| EBIT Margin | 9.40% | 6.49% | 7.40% | 9.21% | 6.56% | 6.53% |
| Effective Tax Rate | 48.53% | 55.71% | 16.23% | 23.17% | 8.16% | |
| Revenue as Reported | 4.00B | 3.13B | ||||
| Advertising Expenses | 84.80M | 88.80M | 90.30M | 116.10M | 108.40M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 278.10M | 903.20M | 445.00M | 393.50M | 180.20M | 352.20M |
| Trading Asset Securities | 4.40M | |||||
| Cash & Short-Term Investments | 278.10M | 903.20M | 445.00M | 393.50M | 184.60M | 352.20M |
| Accounts Receivable | 315.70M | 123.20M | 137.20M | 227.40M | 184.80M | 118.10M |
| Other Receivables | 47.90M | 38.70M | 24.30M | 109.00M | 57.30M | 50.70M |
| Receivables | 363.60M | 161.90M | 161.50M | 336.40M | 242.10M | 168.80M |
| Inventory | 518.20M | 625.30M | 628.20M | 794.40M | 959.20M | 533.50M |
| Prepaid Expenses | 37.90M | 42.90M | 39.60M | 55.80M | 57.10M | 54.20M |
| Restricted Cash | 200.00K | 800.00K | 19.10M | 1.20M | ||
| Other Current Assets | 49.40M | 4.20B | 326.40M | 47.20M | 56.80M | 55.80M |
| Total Current Assets | 1.25B | 5.94B | 1.60B | 1.63B | 1.52B | 1.17B |
| Property, Plant & Equipment | 339.30M | 333.70M | 328.40M | 3.82B | 3.44B | 2.97B |
| Long-Term Investments | 266.90M | 47.60M | 51.30M | 41.70M | 42.10M | 39.30M |
| Goodwill | 619.50M | 619.80M | 618.70M | 1.99B | 1.98B | 1.96B |
| Other Intangible Assets | 221.90M | 222.40M | 222.50M | 1.51B | 1.51B | 1.53B |
| Long-Term Accounts Receivable | 65.10M | 57.50M | 44.10M | |||
| Long-Term Deferred Tax Assets | 72.90M | 109.20M | 48.60M | 15.70M | ||
| Long-Term Deferred Charges | 800.00K | 1.40M | 2.30M | |||
| Other Long-Term Assets | 14.20M | 16.30M | 4.76B | 51.80M | 34.90M | 44.60M |
| Total Assets | 2.78B | 7.29B | 7.64B | 9.12B | 8.59B | 7.75B |
| Accounts Payable | 84.20M | 109.60M | 61.70M | 130.70M | 159.10M | 138.70M |
| Accrued Expenses | 217.50M | 271.20M | 253.60M | 461.40M | 546.60M | 474.40M |
| Short-Term Debt | 43.10M | 44.70M | 25.40M | 54.70M | 219.30M | 9.10M |
| Current Portion of Long-Term Debt | 3.60M | 765.30M | 14.60M | 17.10M | 13.80M | 23.20M |
| Current Portion of Leases | 24.80M | 23.20M | 18.30M | 87.90M | 80.50M | 75.00M |
| Current Unearned Revenue | 15.90M | 21.50M | 15.90M | 110.90M | 94.90M | 93.90M |
| Other Current Liabilities | 20.80M | 3.13B | 436.40M | 84.90M | 62.00M | 51.70M |
| Total Current Liabilities | 409.90M | 4.37B | 825.90M | 947.60M | 1.18B | 866.00M |
| Long-Term Debt | 4.10M | 650.70M | 1.41B | 1.52B | 1.18B | 1.03B |
| Long-Term Leases | 197.80M | 190.20M | 164.90M | 2.70B | 2.32B | 1.98B |
| Long-Term Unearned Revenue | 3.70M | 3.20M | ||||
| Long-Term Deferred Tax Liabilities | 1.80M | 2.20M | 36.70M | 117.50M | 163.60M | |
| Other Long-Term Liabilities | 8.70M | 6.90M | 2.82B | 32.30M | 21.50M | 26.90M |
| Total Liabilities | 620.50M | 5.22B | 5.23B | 5.24B | 4.82B | 4.06B |
| Common Stock | 1.90M | 1.90M | 1.90M | 1.90M | 1.90M | 1.90M |
| Additional Paid-In Capital | 3.04B | 3.04B | 3.03B | 3.03B | 3.01B | 3.05B |
| Retained Earnings | -741.20M | -909.50M | -500.20M | 947.50M | 852.50M | 682.20M |
| Treasury Stock | -100.90M | -33.40M | -50.80M | -56.40M | -31.30M | -25.50M |
| Comprehensive Income & Other | -34.20M | -27.60M | -76.00M | -47.50M | -61.50M | -27.30M |
| Total Common Equity | 2.16B | 2.07B | 2.41B | 3.88B | 3.77B | 3.68B |
| Shareholders' Equity | 2.16B | 2.07B | 2.41B | 3.88B | 3.77B | 3.68B |
| Total Liabilities & Equity | 2.78B | 7.29B | 7.64B | 9.12B | 8.59B | 7.75B |
| Total Debt | 273.40M | 1.67B | 1.64B | 4.38B | 3.81B | 3.12B |
| Net Cash (Debt) | 4.70M | -770.90M | -1.19B | -3.99B | -3.63B | -2.76B |
| Net Cash Per Share | 0.03 | -4.15 | -5.98 | -19.83 | -18.02 | -15.62 |
| Filing Date Shares Outstanding | 178.51M | 184.09M | 183.40M | 183.60M | 185.30M | 185.19M |
| Total Common Shares Outstanding | 179.10M | 183.90M | 183.10M | 183.70M | 184.90M | 185.21M |
| Working Capital | 837.50M | 1.57B | 774.80M | 680.50M | 342.70M | 299.70M |
| Book Value Per Share | 12.07 | 11.25 | 13.15 | 21.11 | 20.41 | 19.88 |
| Tangible Book Value | 1.32B | 1.23B | 1.57B | 384.00M | 281.70M | 194.20M |
| Tangible Book Value Per Share | 7.38 | 6.67 | 8.56 | 2.09 | 1.52 | 1.05 |
| Land | 7.30M | 7.20M | 7.10M | 185.20M | 160.40M | 134.20M |
| Buildings | 156.80M | 154.50M | 144.00M | 1.60B | 1.20B | 858.60M |
| Machinery | 287.40M | 298.40M | 288.50M | 679.80M | 557.00M | 423.50M |
| Construction In Progress | 15.40M | 6.60M | 8.10M | 210.30M | 271.60M | 286.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -263.40M | -409.30M | -1.45B | 95.00M | 157.90M | 322.00M |
| Depreciation & Amortization | 45.10M | 46.70M | 44.70M | 46.00M | 199.20M | 155.80M |
| Other Amortization | 4.40M | 6.00M | 5.70M | 5.80M | 9.80M | 19.30M |
| Loss (Gain) From Sale of Assets | 1.70M | 1.20M | 3.30M | 10.50M | ||
| Asset Writedown & Restructuring Costs | 3.90M | 2.10M | 900.00K | 5.50M | ||
| Loss (Gain) From Sale of Investments | -4.60M | -252.50M | ||||
| Stock-Based Compensation | 24.90M | 23.80M | 27.60M | 33.30M | 47.00M | 38.70M |
| Other Operating Activities | 426.50M | 465.40M | 1.53B | 7.10M | -9.00M | 4.50M |
| Change in Accounts Receivable | 9.80M | 23.50M | 16.00M | -46.40M | -75.60M | 38.20M |
| Change in Inventory | 35.30M | 9.20M | -34.10M | 153.80M | -442.40M | -177.50M |
| Change in Accounts Payable | -11.40M | 14.60M | 19.70M | -66.70M | 110.40M | 96.80M |
| Change in Unearned Revenue | -300.00K | 5.70M | 3.30M | 3.20M | 800.00K | 24.90M |
| Change in Income Taxes | 16.10M | 3.50M | -1.70M | 2.80M | -11.40M | 8.80M |
| Change in Other Net Operating Assets | 1.80M | 27.30M | -4.00M | -19.50M | -27.30M | -700.00K |
| Operating Cash Flow | 372.80M | 334.00M | 382.00M | 364.70M | -35.10M | 278.30M |
| Capital Expenditures | -34.10M | -31.80M | -48.70M | -50.00M | -532.30M | -322.30M |
| Cash Acquisitions | 171.30M | |||||
| Divestitures | 820.10M | 286.00M | 400.00K | |||
| Sale (Purchase) of Intangibles | 600.00K | -100.00K | -1.90M | -3.20M | ||
| Investment in Securities | 4.50M | -1.10M | -2.20M | -2.50M | -10.90M | |
| Other Investing Activities | -103.10M | -231.40M | -244.50M | -490.40M | ||
| Investing Cash Flow | 688.00M | 21.60M | -297.30M | -542.90M | -535.10M | -161.90M |
| Short-Term Debt Issued | 19.90M | 213.00M | ||||
| Long-Term Debt Issued | 1.22B | 352.50M | 115.40M | |||
| Total Debt Issued | 19.90M | 1.22B | 565.50M | 115.40M | ||
| Short-Term Debt Repaid | -142.60M | -13.10M | ||||
| Long-Term Debt Repaid | -18.20M | -70.50M | -450.60M | -99.30M | -201.50M | |
| Total Debt Repaid | -1.44B | -18.20M | -70.50M | -593.20M | -99.30M | -214.60M |
| Net Debt Issued (Repaid) | -1.44B | 1.70M | -70.50M | 631.60M | 466.20M | -99.20M |
| Issuance of Common Stock | 100.00K | 100.00K | 100.00K | 4.20M | 700.00K | 22.30M |
| Repurchase of Common Stock | -84.90M | -3.70M | -31.40M | -56.00M | -35.80M | -38.20M |
| Other Financing Activities | 56.90M | 93.40M | 78.20M | -204.00M | -5.80M | -9.00M |
| Financing Cash Flow | -1.46B | 91.50M | -23.60M | 375.80M | 425.30M | -124.10M |
| Foreign Exchange Rate Adjustments | -2.50M | 6.10M | -9.60M | -2.20M | -9.40M | -700.00K |
| Net Cash Flow | -405.50M | 453.20M | 51.50M | 195.40M | -154.30M | -8.40M |
| Free Cash Flow | 338.70M | 302.20M | 333.30M | 314.70M | -567.40M | -44.00M |
| Free Cash Flow Margin | 15.90% | 14.67% | 16.04% | 14.76% | -14.20% | -1.40% |
| Free Cash Flow Per Share | 1.85 | 1.63 | 1.67 | 1.56 | -2.82 | -0.25 |
| Levered Free Cash Flow | 94.22M | -1.02B | 142.75M | 138.66M | -624.52M | 116.40M |
| Unlevered Free Cash Flow | 115.33M | -987.90M | 176.43M | 177.05M | -542.26M | 172.04M |
| Cash Interest Paid | 117.10M | 200.10M | 198.70M | 184.70M | 111.10M | 88.60M |
| Cash Income Tax Paid | 14.30M | 22.90M | 20.90M | 21.50M | 28.10M | 9.40M |
| Change in Working Capital | 51.30M | 83.80M | -800.00K | 27.20M | -445.50M | -9.50M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.87B | 2.15B | 1.44B | 2.65B | 3.65B | 5.10B |
| Enterprise Value | 2.87B | 5.73B | 5.45B | 6.52B | 6.88B | 7.27B |
| Last Close Price | 15.16 | 11.67 | 7.86 | 14.34 | 19.75 | 27.44 |
| PE Ratio | 27.85 | 23.12 | 15.85 | |||
| Forward PE | 17.93 | 72.15 | 60.28 | 41.89 | 23.27 | 40.70 |
| PS Ratio | 1.36 | 1.04 | 0.69 | 1.24 | 0.91 | 1.63 |
| PB Ratio | 1.26 | 1.04 | 0.60 | 0.68 | 0.97 | 1.39 |
| P/TBV Ratio | 2.19 | 1.75 | 0.92 | 6.89 | 12.96 | 26.28 |
| P/FCF Ratio | 8.54 | 7.10 | 4.33 | 8.41 | ||
| P/OCF Ratio | 7.76 | 6.42 | 3.78 | 7.25 | 18.34 | |
| PEG Ratio | 0.10 | 6.97 | 6.97 | 1.14 | 1.95 | 3.16 |
| EV/Sales Ratio | 1.36 | 2.78 | 2.62 | 3.06 | 1.72 | 2.32 |
| EV/EBITDA Ratio | 11.77 | 31.81 | 27.47 | 26.89 | 14.91 | 20.16 |
| EV/EBIT Ratio | 14.42 | 42.92 | 35.45 | 33.18 | 26.23 | 35.51 |
| EV/FCF Ratio | 8.52 | 18.98 | 16.36 | 20.71 | ||
| Debt / Equity Ratio | 0.13 | 0.81 | 0.68 | 1.13 | 1.01 | 0.85 |
| Debt / EBITDA Ratio | 0.97 | 7.80 | 7.14 | 16.47 | 5.91 | 6.07 |
| Debt / FCF Ratio | 0.81 | 5.54 | 4.91 | 13.92 | ||
| Net Debt / Equity Ratio | -0.00 | 0.37 | 0.49 | 1.03 | 0.96 | 0.75 |
| Net Debt / EBITDA Ratio | -0.02 | 4.28 | 6.01 | 16.45 | 7.86 | 7.67 |
| Net Debt / FCF Ratio | -0.01 | 2.55 | 3.58 | 12.67 | -6.39 | -62.81 |
| Asset Turnover | 0.41 | 0.28 | 0.25 | 0.24 | 0.49 | 0.64 |
| Inventory Turnover | 2.10 | 1.90 | 1.67 | 1.38 | 3.56 | 4.52 |
| Quick Ratio | 1.57 | 0.24 | 0.73 | 0.77 | 0.36 | 0.60 |
| Current Ratio | 3.04 | 1.36 | 1.94 | 1.72 | 1.29 | 1.35 |
| Return on Equity (ROE) | 3.47% | 1.73% | 2.97% | 2.60% | 4.23% | 14.78% |
| Return on Assets (ROA) | 2.41% | 1.12% | 1.15% | 1.39% | 2.01% | 2.63% |
| Return on Invested Capital (ROIC) | 4.62% | 1.84% | 2.25% | 1.98% | 3.79% | 4.90% |
| Return on Capital Employed (ROCE) | 8.40% | 4.60% | 2.30% | 2.40% | 3.50% | 3.00% |
| Earnings Yield | -8.98% | -19.07% | -100.20% | 3.59% | 4.32% | 6.31% |
| FCF Yield | 11.71% | 14.08% | 23.07% | 11.89% | -15.54% | -0.86% |
| Buyback Yield / Dilution | 0.52% | 6.82% | 0.90% | 0.10% | -13.79% | -87.79% |
| Total Shareholder Return | 0.52% | 6.82% | 0.90% | 0.10% | -13.79% | -87.79% |