# Callaway Golf Company (CALY)

> Source: Nexqual · https://nexqual.com/CALY · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Callaway Golf Company (CALY), nexqual.com/CALY" · informational, not investment advice.

**Price:** USD 13.98 (+3.25% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 13.54 · day 13.69–14.13 · 52w 8.71–20.28 · market cap $2.50B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $2.13B, net income -$263M (-12.4% margin), free cash flow $339M (SEC filings).
- 1 of 80 tracked superinvestors hold CALY (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 2.73 on a 1–5 scale) (11 analysts), mean target USD 20.4 (range 17–23).
- Total return with dividends: 1Y +51.3% vs S&P 500 +18.1%; 5Y -49.0% vs S&P 500 +85.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.01, revenue estimate $428M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.13B | $4.00B | $2.13B | $2.08B | $2.06B | $2.13B |
| Gross profit | — | — | $927M | $887M | $868M | — |
| Operating income | $205M | $257M | $194M | $153M | $128M | $204M |
| Net income | $322M | $158M | $95.0M | -$1.45B | -$409M | -$263M |
| EPS (diluted) | $1.82 | $0.82 | $0.50 | -$7.23 | -$2.20 | — |
| Free cash flow | -$44.0M | -$567M | $315M | $333M | $302M | $339M |
| Gross margin | — | — | 43.5% | 42.7% | 42.1% | — |
| Operating margin | 6.5% | 6.4% | 9.1% | 7.4% | 6.2% | 9.6% |
| Net margin | 10.3% | 4.0% | 4.5% | -69.7% | -19.9% | -12.4% |
| Revenue growth | +97.1% | +27.5% | -46.6% | -2.6% | -0.8% | — |
| Cash + short-term investments | $352M | $180M | $394M | $445M | $903M | — |
| Total debt | $1.03B | $1.40B | $1.54B | $1.43B | $1.42B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.2x · EV/EBITDA 16.7x · EV/Sales 1.0x · P/FCF 7.4x · P/B 1.1x · FCF yield 13.57% · Earnings yield -10.55% · Buyback yield (TTM) 3.40% · Net cash $270M · EV $2.23B
P/E at fiscal year-ends: Dec 2023 30.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold CALY. Change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.02% | $2.7M | Added +107.3% |

## Analysts
Consensus Hold (mean 2.73 on a 1–5 scale), 11 analysts; mean target USD 20.4 (low 17, high 23).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-14 | UBS | Target lowered | Neutral | $19 → $17 |
| 2026-09-01 | Truist Securities | Target raised | Buy | $19 → $20 |
| 2026-08-05 | Goldman Sachs | Target raised | Neutral | $17 → $19 |
| 2026-08-05 | B. Riley Securities | Target raised | Buy | $19 → $23 |
| 2026-08-05 | Keybanc | Target raised | Overweight | $19 → $22 |
| 2026-06-26 | UBS | Target raised | Neutral | $15 → $19 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +51.3% | -49.0% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +51.5% | -12.6% |
| Volatility (annualized) | 50.7% | 49.4% |
| Max drawdown | -31.1% (Jul 2026→Oct 2026) | -79.0% (Nov 2021→Mar 2025) |

## Peers (Leisure)
OSW (OneSpaWorld Holdings Limited) USD 23.91 -0.91% · PTON (Peloton Interactive, Inc.) USD 5.33 +2.11% · YETI (YETI Holdings, Inc.) USD 42.02 +6.81% · PLNT (Planet Fitness, Inc.) USD 49.41 +4.13% · PRKS (United Parks & Resorts Inc.) USD 32.75 -3.53% · GOLF (Acushnet Holdings Corp.) USD 79.46 -2.28%

## More
Full page: https://nexqual.com/CALY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt