Callaway Golf Company (CALY) Balance Sheet
CALY balance sheet, 2025
December 31, 2025 · U.S. dollars$7.29B assets = $5.22B liabilities + $2.07B equity
Both columns are drawn to the same scale: what CALY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
CALY financial health
Descriptive bands, not a rating. Fiscal 2025.
CALY balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $801.3M2016 | $7.29B2025 | +27.8%/yr | |
| Total liabilities | $192.7M2016 | $5.22B2025 | +44.3%/yr | |
| Shareholders’ equity | $598.9M2016 | $2.07B2025 | +14.8%/yr | |
| Cash & short-term investments | $126.0M2016 | $903.2M2025 | +24.5%/yr | |
| Total debt | $12.4M2016 | $1.67B2025 | +72.4%/yr | |
| Net cash (debt) | $113.6M2016 | −$770.9M2025 | −$884.5M | |
| Working capital | $273.1M2016 | $1.57B2025 | +$1.3B | |
| Book value per share | $6.252016 | $11.142025 | +6.6%/yr | |
| Current ratio | 2.462016 | 1.362025 | −1.10 | |
| Debt / equity | 0.022016 | 0.812025 | +0.79 | |
| Shares outstanding | 95.8M2016 | 185.7M2025 | +7.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
CALY assets
CALY liabilities and equity
CALY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
CALY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $903.2M | $445.0M | $393.5M | $180.2M | $352.2M | $366.1M | $106.7M | $64.0M | $85.7M | $126.0M |
| Cash & equivalents | $903.2M | $445.0M | $393.5M | $180.2M | $352.2M | $366.1M | $106.7M | $64.0M | $85.7M | $126.0M |
| Receivables | $161.9M | $282.6M | $336.4M | $246.7M | $156.0M | $139.1M | $150.4M | $72.1M | $95.3M | $128.5M |
| Inventory | $625.3M | $757.3M | $794.4M | $959.2M | $533.5M | $352.5M | $456.6M | $338.1M | $262.5M | $189.4M |
| Other current assets | $4.25B | $115.8M | $103.8M | $132.8M | $124.0M | $53.8M | $74.9M | $50.3M | $22.1M | $16.0M |
| Total current assets | $5.94B | $1.60B | $1.63B | $1.52B | $1.17B | $911.6M | $788.6M | $524.4M | $465.5M | $459.9M |
| Property, plant & equipment (net) | $333.7M | $3.56B | $3.57B | $3.23B | $2.84B | $341.3M | $292.9M | $88.5M | $70.2M | $54.5M |
| Goodwill & intangible assets | $842.2M | $1.99B | $3.46B | $3.49B | $3.49B | $541.0M | $697.2M | $280.5M | $282.2M | $114.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $39.2M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $174.5M | $484.4M | $460.9M | $355.3M | $218.2M | $186.7M | $181.9M | $159.5M | $173.2M | $172.6M |
| Total assets | $7.29B | $7.64B | $9.12B | $8.59B | $7.75B | $1.98B | $1.96B | $1.05B | $991.2M | $801.3M |
| Liabilities | ||||||||||
| Accounts payable | $296.2M | $96.4M | $130.7M | $159.1M | $138.7M | $66.3M | $67.8M | $42.5M | $63.2M | $54.6M |
| Short-term debt | $833.2M | $114.7M | $141.1M | $295.7M | $87.6M | $66.6M | $178.9M | $42.9M | $90.4M | $12.2M |
| Deferred revenue | $21.5M | $96.0M | $110.9M | $94.9M | $116.8M | $2.8M | $3.0M | — | — | — |
| 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 | $2.65B | $2.50B | $1.83B | $1.49B | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $212.6M | $1.47B | $1.52B | $1.51B | $1.46B | — | — | — | — | — |
| Other long-term liabilities | $198.9M | $1.75B | $1.80B | $1.81B | $1.71B | $913.7M | $669.9M | $15.4M | $17.4M | $5.8M |
| Total liabilities | $5.22B | $5.23B | $5.24B | $4.82B | $4.06B | $1.30B | $1.19B | $318.6M | $331.8M | $192.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $956,000 | $956,000 | $956,000 | $950,000 | $942,000 |
| Retained earnings (deficit) | −$909.5M | −$500.2M | $947.5M | $852.5M | $682.2M | $360.2M | $489.4M | $413.8M | $324.1M | $287.1M |
| Accumulated other comprehensive income | −$27.6M | −$76.0M | −$47.5M | −$61.5M | −$27.3M | −$6.5M | −$22.4M | −$13.7M | −$6.2M | −$18.5M |
| Total shareholders' equity | $2.07B | $2.41B | $3.88B | $3.77B | $3.68B | $675.6M | $767.4M | $724.6M | $649.6M | $598.9M |
| Key figures | ||||||||||
| Total debt | $1.67B | $4.14B | $4.07B | $3.57B | $4.48B | $1.07B | $898.1M | $50.4M | $99.9M | $12.4M |
| Net cash (debt) | −$770.9M | −$3.70B | −$3.68B | −$3.39B | −$4.12B | −$707.4M | −$791.4M | $13.5M | −$14.2M | $113.6M |
| Working capital | $1.57B | $774.8M | $680.5M | $342.7M | $299.7M | $520.3M | $265.4M | $221.2M | $151.2M | $273.1M |
| Tangible book value | $1.23B | $414.9M | $413.2M | $286.8M | $194.2M | $134.6M | $70.2M | $444.1M | $367.4M | $484.6M |
| Book value per share | $11.14 | $13.11 | $19.28 | $18.75 | $20.82 | $7.17 | $7.97 | $7.46 | $6.73 | $6.25 |
| Shares outstanding | 185.7M | 183.7M | 201.1M | 201.3M | 176.9M | 94.2M | 96.3M | 97.2M | 96.6M | 95.8M |
| Current ratio | 1.36 | 1.94 | 1.72 | 1.29 | 1.35 | 2.33 | 1.51 | 1.73 | 1.48 | 2.46 |
| Quick ratio | 0.24 | 0.88 | 0.77 | 0.36 | 0.59 | 1.29 | 0.49 | 0.45 | 0.58 | 1.36 |
| Debt / equity | 0.81 | 1.72 | 1.05 | 0.95 | 1.22 | 1.59 | 1.17 | 0.07 | 0.15 | 0.02 |
| Equity / assets | 28.4% | 31.5% | 42.5% | 43.9% | 47.5% | 34.1% | 39.1% | 68.8% | 65.5% | 74.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $278.1M | $499.5M | $903.2M | $865.6M | $683.5M | $317.0M | $445.0M | $441.9M | $312.5M | $234.6M | $394.3M | $331.0M |
| Cash & equivalents | $278.1M | $499.5M | $903.2M | $865.6M | $683.5M | $317.0M | $445.0M | $441.9M | $312.5M | $234.6M | $394.3M | $331.0M |
| Receivables | $363.6M | $438.9M | $161.9M | $304.1M | $455.5M | $466.1M | $282.6M | $389.9M | $479.3M | $503.3M | $336.4M | $365.2M |
| Inventory | $518.2M | $596.4M | $625.3M | $568.7M | $608.9M | $653.9M | $757.3M | $666.4M | $647.1M | $702.9M | $794.4M | $736.5M |
| Other current assets | $87.5M | $90.5M | $4.25B | $130.0M | $133.4M | $527.8M | $115.8M | $125.7M | $174.2M | $152.4M | $103.0M | $170.0M |
| Total current assets | $1.25B | $1.63B | $5.94B | $1.87B | $1.88B | $1.96B | $1.60B | $1.62B | $1.61B | $1.59B | $1.63B | $1.60B |
| Property, plant & equipment (net) | $316.7M | $320.7M | $333.7M | $3.47B | $3.49B | $3.48B | $3.56B | $3.83B | $3.81B | $3.83B | $3.82B | $3.73B |
| Goodwill & intangible assets | $841.9M | $841.7M | $842.2M | $1.78B | $1.78B | $1.78B | $1.99B | $3.50B | $3.49B | $3.49B | $3.46B | $3.48B |
| Long-term investments | $213.9M | $221.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $163.0M | $171.6M | $174.5M | $455.2M | $451.4M | $470.8M | $484.4M | $199.6M | $183.7M | $179.8M | $203.5M | $177.4M |
| Total assets | $2.78B | $3.18B | $7.29B | $7.57B | $7.61B | $7.69B | $7.64B | $9.16B | $9.10B | $9.09B | $9.12B | $8.98B |
| Liabilities | ||||||||||||
| Accounts payable | $84.2M | $282.9M | $296.2M | $87.1M | $119.2M | $135.6M | $96.4M | $123.1M | $116.4M | $133.2M | $130.7M | $103.1M |
| Short-term debt | $69.8M | $341.1M | $833.2M | $385.5M | $385.3M | $122.9M | $114.7M | $145.5M | $134.8M | $140.6M | $142.6M | $162.3M |
| Deferred revenue | $15.9M | $15.5M | $21.5M | $77.5M | $86.3M | $94.5M | $96.0M | $96.1M | $113.0M | $168.5M | $170.2M | $216.8M |
| Total current liabilities | $409.9M | $713.6M | $4.37B | $998.7M | $1.02B | $928.6M | $825.9M | $842.5M | $837.2M | $875.0M | $947.6M | $909.2M |
| Long-term debt | $4.1M | $152.9M | $650.7M | $1.19B | $1.20B | $1.46B | $2.65B | $1.46B | $0 | $0 | $0 | $0 |
| Lease obligations | $199.6M | $203.7M | $212.6M | $1.69B | $1.40B | $1.40B | $1.47B | $1.49B | — | — | — | — |
| Other long-term liabilities | $206.5M | $190.1M | $198.9M | $2.90B | $2.91B | $2.88B | $1.75B | $2.92B | $4.33B | $4.33B | $4.29B | $4.12B |
| Total liabilities | $620.5M | $1.06B | $5.22B | $5.09B | $5.12B | $5.27B | $5.23B | $5.22B | $5.17B | $5.21B | $5.24B | $5.03B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M |
| Retained earnings (deficit) | −$741.2M | −$816.4M | −$909.5M | −$492.5M | −$477.8M | −$498.1M | −$500.2M | $1.01B | $1.02B | $954.0M | $947.5M | $1.02B |
| Accumulated other comprehensive income | −$34.2M | −$33.7M | −$27.6M | −$30.3M | −$28.7M | −$62.9M | −$76.0M | −$51.7M | −$49.6M | −$52.1M | −$47.5M | −$54.3M |
| Total shareholders' equity | $2.16B | $2.12B | $2.07B | $2.48B | $2.49B | $2.43B | $2.41B | $3.94B | $3.93B | $3.89B | $3.88B | $3.95B |
| Key figures | ||||||||||||
| Total debt | $250.4M | $675.1M | $1.67B | $3.18B | $2.90B | $2.90B | $4.14B | $3.01B | $5.81B | $5.82B | $5.80B | $5.63B |
| Net cash (debt) | $27.7M | −$175.6M | −$770.9M | −$2.32B | −$2.22B | −$2.58B | −$3.70B | −$2.57B | −$5.50B | −$5.59B | −$5.40B | −$5.30B |
| Working capital | $837.5M | $911.7M | $1.57B | $869.7M | $865.6M | $1.04B | $774.8M | $781.4M | $775.9M | $718.2M | $680.5M | $693.5M |
| Tangible book value | $1.32B | $1.28B | $1.23B | $694.3M | $704.7M | $643.8M | $414.9M | $435.8M | $443.4M | $393.5M | $413.2M | $475.2M |
| Book value per share | $11.38 | $10.48 | $11.25 | $13.46 | $13.44 | $13.22 | $13.11 | $21.41 | $19.71 | $21.08 | $21.03 | $19.64 |
| Shares outstanding | 190.1M | 202.7M | 183.9M | 183.9M | 185.1M | 183.5M | 183.7M | 183.8M | 199.6M | 184.4M | 184.4M | 201.2M |
| Current ratio | 3.04 | 2.28 | 1.36 | 1.87 | 1.85 | 2.12 | 1.94 | 1.93 | 1.93 | 1.82 | 1.72 | 1.76 |
| Quick ratio | 1.57 | 1.32 | 0.24 | 1.17 | 1.12 | 0.84 | 0.88 | 0.99 | 0.95 | 0.84 | 0.77 | 0.77 |
| Debt / equity | 0.12 | 0.32 | 0.81 | 1.29 | 1.17 | 1.20 | 1.72 | 0.76 | 1.48 | 1.50 | 1.49 | 1.42 |
| Equity / assets | 77.7% | 66.8% | 28.4% | 32.7% | 32.7% | 31.5% | 31.5% | 43.0% | 43.2% | 42.8% | 42.5% | 44.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
CALY financial position
At the end of fiscal 2025 (December 31, 2025), Callaway Golf had total assets of $7.3 billion (down 4.6% from a year earlier), total liabilities of $5.2 billion and shareholders' equity of $2.1 billion. It held $903.2 million in cash and short-term investments against $1.7 billion of debt, net debt of $770.9 million. Its current ratio was 1.36. In the latest quarter (ended June 30, 2026) total assets were $2.8 billion and equity $2.2 billion.
Related: CALY income statement, CALY cash flow statement, CALY key metrics. See the CALY stock overview for the latest quote and news.
CALY balance sheet FAQ
What are Callaway Golf's total assets?
Callaway Golf reported total assets of $7.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $7.6 billion a year earlier.
How much debt does Callaway Golf have?
Callaway Golf had $1.7 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.81.
How much cash does Callaway Golf have?
Callaway Golf held $903.2 million in cash and short-term investments at the end of fiscal 2025; with $1.7 billion of debt that is net debt of $770.9 million.
What is Callaway Golf's book value?
Callaway Golf's shareholders' equity (book value) was $2.1 billion at the end of fiscal 2025, or $11.14 per share.
What is Callaway Golf's current ratio?
Callaway Golf had current assets of $5.9 billion and current liabilities of $4.4 billion, a current ratio of 1.36 (it can cover its short-term obligations).
How much goodwill does Callaway Golf have?
Callaway Golf carried $842.2 million of goodwill and intangible assets, 11.6% of total assets, at the end of fiscal 2025.