Callaway Golf Co CALY

Consumer discretionary SIC 3949 - Sporting & Athletic Goods, NEC NAICS Manufacturing › Miscellaneous Manufacturing › Other Miscellaneous Manufacturing › Sporting and Athletic Goods Manufacturing derived NYSE

Callaway Golf Company, together with our wholly owned subsidiaries (collectively, the "Company," "Callaway Golf," "Callaway," "we," "our," or "us"), is a leading golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. Our products are distributed globally through a mix of on-course, specialty retail, wholesale, direct-to-consumer and international channels.

We were originally incorporated in California in 1982 under the name, "Callaway Golf Company," with a primary focus on the design, manufacture and sale of high-quality golf clubs. In 1992, we became a publicly-traded corporation on the New York Stock Exchange under the ticker symbol "ELY," and in 1999, we reincorporated in the State of Delaware. In 2000, we entered into the golf ball business with the release of our first golf ball product, and over time we expanded our product offerings to include golf balls, golf bags and accessories, and premium golf and active lifestyle apparel through a combination of organic development and strategic acquisitions, including OGIO and TravisMathew in 2017.

Last close 14.13 2026-10-23
Market cap $2.52B 2026-06-30 share count
52-week range 12.26 - 20.28

Valuation FY2025 figures against the last close

P/S1.2x
P/E—
P/FCF8.3x
EV/EBITDA17.4x
Dividend yield—
Diluted EPS-2.20

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Asia
  • Europe
  • Rest of World
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 1.4B (66.2%) 66% United States Asia, FY2025: 363.1M (17.6%) 18% Asia Europe, FY2025: 203.8M (9.9%) 10% Europe Rest of World, FY2025: 129.9M (6.3%) 6% FY2024 United States, FY2024: 1.4B (66.5%) 66% Asia, FY2024: 379.1M (18.2%) 18% Europe, FY2024: 182.1M (8.8%) 9% Rest of World, FY2024: 135.4M (6.5%) 7% FY2023 United States, FY2023: 1.4B (65.4%) 65% Asia, FY2023: 436.6M (20.5%) 20% Europe, FY2023: 173.4M (8.1%) 8% Rest of World, FY2023: 127M (6.0%) 6%
Region FY2025FY2024FY2023
United States $1.36B $1.38B $1.40B
Asia $363.1M $379.1M $436.6M
Europe $203.8M $182.1M $173.4M
Rest of World $129.9M $135.4M $127.0M

As the company reported it, from the “Revenue Recognition - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Golf Equipment
  • Apparel, Gear and Other
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Golf Equipment, FY2025: 1.4B (66.7%) 67% Golf Equipment Apparel, Gear and Other, FY2025: 685M (33.3%) 33% Apparel, Gear and Other FY2024 Golf Equipment, FY2024: 1.4B (66.5%) 67% Apparel, Gear and Other, FY2024: 695M (33.5%) 33% FY2023 Golf Equipment, FY2023: 1.4B (65.1%) 65% Apparel, Gear and Other, FY2023: 744.8M (34.9%) 35%
Segment FY2025FY2024FY2023
Golf Equipment $1.38B $1.38B $1.39B
Apparel, Gear and Other $685.0M $695.0M $744.8M

As the company reported it, from the “Revenue Recognition - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.06B$2.08B$2.13B$4.00B$3.13B$1.59B$1.70B$1.24B$1.05B$871.2M
Cost of revenue $1.19B$1.19B$1.21B——$931.9M$934.3M$664.5M$568.3M$486.2M
Gross profit $867.6M$887.0M$927.1M——$657.6M$766.8M$578.4M$480.4M$385.0M
R&D $65.5M$64.1M$61.8M$76.4M$68.0M$46.3M$50.6M$40.8M$36.6M$33.3M
SG&A $674.0M$670.0M$671.2M$970.6M$849.7M$542.5M$583.5M$100.5M$94.2M$72.0M
Total operating expenses —————$763.1M$634.1M$449.9M$401.6M$340.8M
Operating income $128.1M$152.9M$194.1M$256.8M$204.7M-$105.5M$132.7M$128.4M$78.8M$44.2M
Interest expense $60.6M$63.0M$70.7M$142.8M$115.6M$46.9M$38.5M$5.5M$4.4M$2.4M
Pre-tax income $87.6M$111.5M$129.5M$141.9M$350.6M-$127.5M$95.8M$131.3M$68.1M$58.4M
Income tax $48.8M$18.1M$30.0M$16.0M$28.6M$600.0K$16.5M$26.0M$26.4M$132.6M
Net income -$409.3M-$1.45B$95.0M$157.9M$322.0M-$126.9M$79.4M$104.7M$40.8M$189.9M
EPS, basic -2.23-7.880.510.851.90-1.350.841.110.432.02
EPS, diluted -2.20-7.230.500.821.82-1.350.821.080.421.98
Shares, diluted (wtd. avg.) 185.7M199.3M201.1M201.3M176.9M94.2M96.3M97.2M96.6M95.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $903.2M$445.0M$393.5M$180.2M$357.7M$366.1M$106.7M$64.0M$85.7M$126.0M
Receivables $123.2M$137.2M$200.5M$167.3M$105.3M$138.5M$140.5M$71.4M$94.7M$127.9M
Inventory $625.3M$628.2M$794.4M$959.2M$533.5M$352.5M$456.6M$338.1M$262.5M$189.4M
Total current assets $5.94B$1.60B$1.63B$1.52B$1.17B$912.6M$789.4M$524.9M$466.0M$460.4M
Property, plant and equipment $159.5M$175.9M$2.16B$1.81B$1.45B$146.5M$132.8M$88.5M$70.2M$54.5M
Goodwill $619.8M$618.7M$619.3M$1.98B$1.96B$56.6M$203.7M$55.8M$56.4M$25.6M
Other intangibles $222.4M$222.5M$1.51B$1.50B$1.53B$484.3M$493.4M$224.7M$225.8M$88.7M
Total assets $7.29B$7.64B$9.12B$8.59B$7.75B$1.98B$1.96B$1.05B$991.2M$801.3M
Accounts payable $109.6M$61.7M$130.7M$159.1M$138.7M$66.3M$67.8M$42.5M$63.2M$54.6M
Short-term debt $765.3M$14.6M$17.1M$219.3M$9.1M$22.1M$7.3M$2.4M$2.4M$0
Total current liabilities $4.37B$825.9M$947.6M$1.18B$866.0M$391.3M$523.2M$303.2M$314.4M$186.9M
Long-term debt $650.7M$1.41B$1.52B$1.18B$1.03B$650.6M$443.3M$7.2M$9.4M$0
Retained earnings -$909.5M-$500.2M$947.5M$852.5M$682.2M$360.2M$489.4M$413.8M$324.1M$287.1M
Total equity $2.07B$2.41B$3.88B$3.77B$3.68B$675.6M$767.4M$734.3M$659.4M$608.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $334.0M$382.0M$364.7M-$35.1M$278.3M$228.2M$86.5M$92.3M$117.7M$77.7M
Depreciation and amortisation $46.4M$44.5M$45.7M$192.8M$155.8M$39.5M$35.0M$19.9M$17.6M$16.6M
Stock-based compensation $23.8M$27.6M$33.3M$47.0M$38.7M$10.9M$12.9M$13.5M$12.6M$9.0M
Capital expenditure $31.8M$48.7M$50.0M$532.3M$322.3M$39.2M$54.7M$36.8M$26.2M$16.2M
Investing cash flow $21.6M-$297.3M-$542.9M-$535.1M-$161.9M-$59.2M-$535.7M-$38.5M-$230.6M$9.0M
Financing cash flow $91.5M-$23.6M$375.8M$425.3M-$124.1M$96.1M$492.5M-$75.1M$69.4M-$9.3M
Dividends paid ———$0$0$1.9M$3.8M$3.8M$3.8M$3.8M
Buybacks $3.7M$31.4M$56.0M$35.8M$38.2M$22.2M$28.1M$22.5M$16.6M$5.1M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000837465-26-000013.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B Revenue, FY2016: 871.2M Gross profit, FY2016: 385M Net income, FY2016: 189.9M Revenue, FY2017: 1B Gross profit, FY2017: 480.4M Net income, FY2017: 40.8M Revenue, FY2018: 1.2B Gross profit, FY2018: 578.4M Net income, FY2018: 104.7M Revenue, FY2019: 1.7B Gross profit, FY2019: 766.8M Net income, FY2019: 79.4M Revenue, FY2020: 1.6B Gross profit, FY2020: 657.6M Net income, FY2020: -126.9M Revenue, FY2021: 3.1B Net income, FY2021: 322M Revenue, FY2022: 4B Net income, FY2022: 157.9M Revenue, FY2023: 2.1B Gross profit, FY2023: 927.1M Net income, FY2023: 95M Revenue, FY2024: 2.1B Gross profit, FY2024: 887M Net income, FY2024: -1.4B Revenue, FY2025: 2.1B Gross profit, FY2025: 867.6M Net income, FY2025: -409.3M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $871.2M $1.05B $1.24B $1.70B $1.59B $3.13B $4.00B $2.13B $2.08B $2.06B
Gross profit $385.0M $480.4M $578.4M $766.8M $657.6M — — $927.1M $887.0M $867.6M
Net income $189.9M $40.8M $104.7M $79.4M -$126.9M $322.0M $157.9M $95.0M -$1.45B -$409.3M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Material agreement signed Item 1.01
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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ESCA ESCALADE INC $255.2M 18.7x -4.5%
AOUT American Outdoor Brands, Inc. $219.0M — -14.3%
CLAR Clarus Corp $146.6M — -5.2%
NWTG Newton Golf Company, Inc. $5.0M — 136.1%
TRUG TruGolf Holdings, Inc. $800.1K — -11.3%