Callaway Golf Company (CALY) Key Metrics
CALY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.47B
- Enterprise value
- $2.58B
- P/E (TTM)
- 15.9 10-yr median 25.4
- Forward P/E
- 18.9
- PEG ratio
- 0.72
- Price / sales
- 1.2 10-yr median 1.2
- Price / book
- 1.2 10-yr median 1.5
- EV / EBITDA
- 10.7 10-yr median 14.1
- Dividend yield
- —
- Beta
- 0.96
CALY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCALY valuation Price multiples at each fiscal year-end price.
CALY returns How much profit the business earns on the capital it uses.
CALY per-share figures Results divided by the shares outstanding at year-end.
CALY financial health Debt, liquidity and how easily interest is covered.
CALY efficiency & capital use Working capital cycle and where the cash goes.
CALY valuation history
CALY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CALY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CALY cash returned to shareholders
CALY price vs earnings per share
CALY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.17B | $1.44B | $2.88B | $3.98B | $4.85B | $2.26B | $2.04B | $1.49B | $1.35B | $1.05B |
| Enterprise value | $2.94B | $5.14B | $6.56B | $7.36B | $8.98B | $2.97B | $2.83B | $1.47B | $1.36B | $936.9M |
| P/E ratio | 55.9 | — | 30.4 | 25.2 | 15.1 | — | 25.7 | 14.2 | 33.0 | 5.5 |
| Price / sales | 1.1 | 0.3 | 0.7 | 1.0 | 1.5 | 1.4 | 1.2 | 1.2 | 1.3 | 1.2 |
| Price / book | 1.0 | 0.6 | 0.7 | 1.1 | 1.3 | 3.3 | 2.7 | 2.1 | 2.1 | 1.8 |
| Price / free cash flow | 7.2 | 4.3 | — | — | — | 12.0 | 64.1 | 26.8 | 14.7 | 17.1 |
| Price / operating cash flow | 6.5 | 3.8 | 7.9 | — | 17.4 | 9.9 | 23.6 | 16.1 | 11.4 | 13.5 |
| EV / sales | 1.4 | 1.2 | 1.5 | 1.8 | 2.9 | 1.9 | 1.7 | 1.2 | 1.3 | 1.1 |
| EV / EBITDA | 15.1 | — | 13.5 | 15.4 | 14.4 | — | 13.8 | 9.4 | 15.1 | 12.1 |
| EV / free cash flow | 9.7 | 15.4 | — | — | — | 15.7 | 88.9 | 26.6 | 14.9 | 15.2 |
| Earnings yield | 1.8% | −100.3% | 3.3% | 4.0% | 6.6% | −5.6% | 3.9% | 7.0% | 3.0% | 18.1% |
| Free cash flow yield | 13.9% | 23.1% | −4.1% | −14.3% | −0.9% | 8.4% | 1.6% | 3.7% | 6.8% | 5.9% |
| Dividend yield | — | — | — | 0.0% | 0.0% | 0.1% | 0.2% | 0.3% | 0.3% | 0.4% |
| Shareholder yield (dividends + buybacks) | 0.2% | 2.2% | 1.9% | 0.9% | 0.8% | 1.1% | 1.6% | 1.8% | 1.5% | 0.8% |
| Share price at fiscal year-end | $11.67 | $7.86 | $14.34 | $19.75 | $27.44 | $24.01 | $21.20 | $15.30 | $13.93 | $10.96 |
| Per share | ||||||||||
| Revenue per share | $11.09 | $23.08 | $21.31 | $19.85 | $17.71 | $16.87 | $17.67 | $12.79 | $10.86 | $9.10 |
| Earnings per share | $0.21 | −$7.88 | $0.47 | $0.78 | $1.82 | −$1.35 | $0.82 | $1.08 | $0.42 | $1.98 |
| Operating cash flow per share | $1.80 | $2.08 | $1.81 | −$0.17 | $1.57 | $2.42 | $0.90 | $0.95 | $1.22 | $0.81 |
| Free cash flow per share | $1.62 | $1.81 | −$0.58 | −$2.82 | −$0.25 | $2.01 | $0.33 | $0.57 | $0.95 | $0.64 |
| Cash per share | $4.86 | $2.42 | $1.96 | $0.90 | $1.99 | $3.89 | $1.11 | $0.66 | $0.89 | $1.31 |
| Book value per share | $11.14 | $13.11 | $19.28 | $18.75 | $20.82 | $7.17 | $7.97 | $7.46 | $6.73 | $6.25 |
| Tangible book value per share | $6.61 | $2.26 | $2.05 | $1.42 | $1.10 | $1.43 | $0.73 | $4.57 | $3.80 | $5.06 |
| Dividends per share | — | — | — | $0.00 | $0.00 | $0.02 | $0.04 | $0.04 | $0.04 | $0.04 |
| Capex per share | $0.18 | $0.27 | $2.40 | $2.64 | $1.82 | $0.42 | $0.57 | $0.38 | $0.27 | $0.17 |
| Debt per share | $9.02 | $22.56 | $20.25 | $17.72 | $25.30 | $11.40 | $9.33 | $0.52 | $1.03 | $0.13 |
| Shares outstanding | 185.7M | 183.7M | 201.1M | 201.3M | 176.9M | 94.2M | 96.3M | 97.2M | 96.6M | 95.8M |
| Change in shares outstanding | +1.1% | −8.7% | −0.1% | +13.8% | +87.8% | −2.2% | −0.9% | +0.6% | +0.8% | +13.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 1.7% | −46.1% | 2.5% | 4.2% | 14.8% | −17.6% | 10.6% | 15.2% | 6.5% | 37.5% |
| Return on invested capital (ROIC) | 1.4% | −14.5% | 3.2% | 3.4% | 4.1% | 3.6% | 10.7% | 15.4% | 9.6% | 10.8% |
| Return on assets (ROA) | 0.5% | −17.3% | 1.1% | 1.9% | 6.6% | −6.4% | 5.3% | 10.2% | 4.6% | 26.5% |
| Return on tangible assets | 0.6% | −25.7% | 1.7% | 3.1% | 7.6% | −8.8% | 6.3% | 13.6% | 5.8% | 27.6% |
| Free cash flow margin | 14.6% | 7.9% | −2.7% | −14.2% | −1.4% | 11.9% | 1.9% | 4.5% | 8.7% | 7.1% |
| Income quality (OCF / net income) | 8.61 | — | 3.84 | −0.22 | 0.86 | — | 1.09 | 0.88 | 2.88 | 0.41 |
| Financial health | ||||||||||
| Total debt | $1.67B | $4.14B | $4.07B | $3.57B | $4.48B | $1.07B | $898.1M | $50.4M | $99.9M | $12.4M |
| Cash & short-term investments | $903.2M | $445.0M | $393.5M | $180.2M | $352.2M | $366.1M | $106.7M | $64.0M | $85.7M | $126.0M |
| Net debt | $770.9M | $3.70B | $3.68B | $3.39B | $4.12B | $707.4M | $791.4M | −$13.5M | $14.2M | −$113.6M |
| Debt / equity | 0.81 | 1.72 | 1.05 | 0.95 | 1.22 | 1.59 | 1.17 | 0.07 | 0.15 | 0.02 |
| Debt / assets | 0.23 | 0.54 | 0.45 | 0.42 | 0.58 | 0.54 | 0.46 | 0.05 | 0.10 | 0.02 |
| Net debt / EBITDA | 3.96 | — | 7.59 | 7.09 | 6.63 | — | 3.85 | −0.09 | 0.16 | −1.47 |
| Current ratio | 1.36 | 1.94 | 1.72 | 1.29 | 1.35 | 2.33 | 1.51 | 1.73 | 1.48 | 2.46 |
| Quick ratio | 1.22 | 1.02 | 0.88 | 0.48 | 0.73 | 1.43 | 0.63 | 0.61 | 0.65 | 1.45 |
| Interest coverage | 2.1 | -5.4 | 1.1 | 1.8 | 1.8 | 1.4 | 3.3 | 23.8 | 20.7 | 19.7 |
| Working capital | $1.57B | $774.8M | $680.5M | $342.7M | $299.7M | $520.3M | $265.4M | $221.2M | $151.2M | $273.1M |
| Invested capital | $2.84B | $6.11B | $7.56B | $7.16B | $7.81B | $1.38B | $1.56B | $711.0M | $663.9M | $485.4M |
| Tangible asset value | $1.23B | $414.9M | $413.2M | $286.8M | $194.2M | $134.6M | $70.2M | $453.8M | $377.2M | $494.3M |
| Net current asset value | $718.5M | −$3.63B | −$3.61B | −$3.30B | −$2.90B | −$393.4M | −$404.6M | $205.8M | $133.7M | $267.2M |
| Graham number | $7.24 | — | $14.32 | $18.19 | $29.20 | — | $12.16 | $13.45 | $8.00 | $16.69 |
| Graham net-net per share | −$20.89 | −$22.82 | −$20.88 | −$19.73 | −$18.82 | −$6.99 | −$7.74 | −$0.32 | −$0.45 | $1.30 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $0 | $3,000 | $1.9M | $3.8M | $3.8M | $3.8M | $3.8M |
| Share buybacks (net) | $3.7M | $31.4M | $56.0M | $35.8M | $38.1M | $22.2M | $28.1M | $22.5M | $16.6M | $5.1M |
| Dividend payout ratio | — | — | — | 0.0% | 0.0% | — | 4.8% | 3.6% | 9.2% | 2.0% |
| Dividends + buybacks / free cash flow | 1.2% | 9.4% | — | — | — | 12.8% | 100.0% | 47.3% | 22.3% | 14.5% |
| Capex / revenue | 1.6% | 1.1% | 11.2% | 13.3% | 10.3% | 2.5% | 3.2% | 3.0% | 2.5% | 1.9% |
| Capex / operating cash flow | 9.8% | 12.8% | 132.2% | — | 115.8% | 17.2% | 63.2% | 39.9% | 22.3% | 20.8% |
| Capex / depreciation | 0.70 | 1.09 | 2.01 | 2.76 | 1.37 | 0.54 | 0.83 | 1.85 | 1.49 | 0.97 |
| Stock-based compensation / revenue | 1.2% | 0.9% | 1.1% | 1.2% | 1.2% | — | — | — | — | — |
| R&D / revenue | 3.2% | 2.2% | 2.4% | 1.9% | 2.2% | 2.9% | 3.0% | 3.3% | 3.5% | 3.8% |
| SG&A / revenue | 32.7% | 24.7% | 24.2% | 24.3% | 27.1% | — | — | — | — | — |
| Efficiency | ||||||||||
| Days sales outstanding | 39.4 | 26.6 | 24.8 | 18.4 | 17.2 | 33.2 | 23.9 | 24.6 | 38.9 | 51.2 |
| Days of inventory on hand | 211.6 | 178.3 | 196.3 | 171.9 | 127.3 | 158.3 | 155.2 | 164.9 | 145.2 | 150.0 |
| Days payables outstanding | 60.1 | 26.1 | 32.4 | 34.3 | 29.5 | 26.2 | 21.5 | 29.0 | 37.8 | 41.2 |
| Cash conversion cycle (days) | 190.9 | 178.8 | 188.7 | 156.0 | 115.0 | 165.3 | 157.5 | 160.4 | 146.3 | 160.0 |
| Receivables turnover | 9.27 | 13.70 | 14.70 | 19.84 | 21.24 | 10.98 | 15.29 | 14.85 | 9.37 | 7.13 |
| Payables turnover | 6.07 | 13.99 | 11.25 | 10.64 | 12.39 | 13.91 | 16.95 | 12.58 | 9.65 | 8.86 |
| Inventory turnover | 1.73 | 2.05 | 1.86 | 2.12 | 2.87 | 2.31 | 2.35 | 2.21 | 2.51 | 2.43 |
| Asset turnover | 0.28 | 0.51 | 0.48 | 0.49 | 0.64 | 0.81 | 1.13 | 1.22 | 1.17 | 1.22 |
| Average receivables | $222.2M | $309.5M | $291.6M | $201.3M | $147.6M | $144.7M | $111.2M | $83.7M | $111.9M | $122.3M |
| Average payables | $196.3M | $113.5M | $144.9M | $148.9M | $102.5M | $67.1M | $55.2M | $52.8M | $58.9M | $54.7M |
| Average inventory | $691.3M | $775.9M | $876.8M | $746.4M | $443.0M | $404.6M | $397.3M | $300.3M | $225.9M | $199.1M |
| Intangibles / total assets | 11.6% | 26.1% | 38.0% | 40.6% | 45.0% | 27.3% | 35.6% | 26.6% | 28.5% | 14.3% |
Computed from CALY's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CALY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Callaway Golf traded at 55.9 times earnings, against a 10-year median of 25.4. Based on the latest twelve months, the trailing P/E is 15.9 and the forward P/E is 18.9. Callaway Golf earned a return on equity of 1.7% and a return on invested capital of 1.4% in fiscal 2025. It ended the year with $1.7 billion of debt and $903.2 million in cash and short-term investments, net debt of $770.9 million. It returned $3.7 million to shareholders: $0 in dividends and $3.7 million in share buybacks, 1% of free cash flow. The share count rose 93.8% from 95.8M to 185.7M over 9 years.
See the CALY income statement, the CALY chart for price history, or the CALY stock overview for the latest quote and news.
CALY key metrics FAQ
What is Callaway Golf's P/E ratio?
Callaway Golf's trailing P/E ratio is 15.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.9. At the end of fiscal 2025 it was 55.9, compared with a 10-year median of 25.4.
What is Callaway Golf's EV/EBITDA?
Callaway Golf's enterprise value was 15.1 times EBITDA at the end of fiscal 2025 (enterprise value $2.9 billion, EBITDA $194.6 million); the current EV/EBITDA is 10.7.
What is Callaway Golf's return on equity?
Callaway Golf's return on equity (ROE) was 1.7% in fiscal 2025: net income of $38.8 million on average shareholders' equity of $2.2 billion.
What is Callaway Golf's ROIC?
Callaway Golf's return on invested capital was 1.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Callaway Golf have?
Callaway Golf had total debt of $1.7 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.81 and $770.9 million of net debt (3.96 times EBITDA).
Does Callaway Golf buy back its shares?
Yes. Callaway Golf spent $3.7 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.1% over the year, to 185.7M..
What is Callaway Golf's free cash flow yield?
Callaway Golf generated $301.4 million of free cash flow in fiscal 2025, a free cash flow yield of 13.9% on its market value at year-end ($2.2 billion).
What is Callaway Golf's current ratio?
Callaway Golf's current ratio was 1.36 at the end of fiscal 2025: current assets were 1.36 times current liabilities.