CALYCallaway Golf Co
Sporting & Athletic Goods, NEC
- Revenue
- $2.1B
- 0.8% YoY
- Operating margin
- 6.2%
- 16% YoY
- EBITDA
- $175M
- 12% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -1.5×
- −$270M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear1% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear22% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $3.1B | $4.0B | $2.1B | $2.1B | $2.1B | 0.8% |
| Operating income | $205M | $257M | $194M | $153M | $128M | 16% |
| Net income | $322M | $158M | $95M | −$1.4B | −$409M | 72% |
| Operating cash flow | $278M | −$35M | $365M | $382M | $334M | 13% |
| Capex | $322M | $532M | $50M | $49M | $32M | 35% |
| Stock-based comp | $39M | $47M | $33M | $28M | $24M | 14% |
| Buybacks | $38M | $36M | $56M | $31M | $4M | 88% |
| Dividends | $0 | $0 | — | — | — |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $14M | $26M | 49 | 146 |
| FY2024 | $9M | −$2M | 33 | 140 |
| FY2023 | $11M | −$3M | 60 | 110 |
| FY2022 | $11M | −$127K | 82 | 79 |
| FY2021 | $27M | $40M | 114 | 124 |