Callaway Golf Co CALY
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.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | -7.88 | 0.51 | 0.85 | 1.90 | -1.35 | 0.84 | 1.11 | 0.43 | 2.02 |
| EPS, diluted | -2.20 | -7.23 | 0.50 | 0.82 | 1.82 | -1.35 | 0.82 | 1.08 | 0.42 | 1.98 |
| Shares, diluted (wtd. avg.) | $185.7M | $199.3M | $201.1M | $201.3M | $176.9M | $94.2M | $96.3M | $97.2M | $96.6M | $95.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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| TRUG | TruGolf Holdings, Inc. | $347.1K | — | -11.3% |