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Companies / Consumer Discretionary / Callaway Golf Co
CALY

Callaway Golf Co

Consumer DiscretionaryMisc. Manufacturing
Ticker CALYCARLSBAD, CAFiscal year ends DecemberBook value per share $11.02Diluted shares 196.3M

Topgolf Callaway Brands Corp. operates as a leading golf entertainment and equipment company serving golfers and entertainment seekers worldwide through its integrated portfolio of brands and venues. The company's website is located at www.topgolfcallawaybrands.com. From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$2.06BFY2025
−51.4% year over year
Last 12 mo $1.16B
6.22%FY2025
+35.9 percentage points
Last 12 mo 18.05%
$38.80MFY2025
+102.7% year over year
Last 12 mo $167.10M
-19.78%FY2025
−21 percentage points
Last 12 mo -12.18%
Cash & financing
$334.00MFY2025
−12.6% year over year
Last 12 mo $372.80M
$302.20MFY2025
+249.0% year over year
Last 12 mo $278.70M
0.71FY2025
Was 0.62× a year earlier
Last 12 mo 0.02
185.7MFY2025
+1.1% year over year
Last 12 mo 196.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Callaway Golf Co does

In the company’s own words

Topgolf Callaway Brands Corp. operates as a leading golf entertainment and equipment company serving golfers and entertainment seekers worldwide through its integrated portfolio of brands and venues. The company's website is located at www.topgolfcallawaybrands.com.

The company operates through two primary business segments: Topgolf and Callaway Golf. The Topgolf segment encompasses the company's entertainment venues and media operations, featuring high-tech golf entertainment centers that combine golf simulation technology with food, beverage, and social experiences. The Callaway Golf segment includes the design, manufacture, and distribution of golf equipment and apparel, encompassing multiple established brands including Callaway, Odyssey, PING, TravisMathew, Jack Wolfskin, and OGIO.

Topgolf operates numerous entertainment venues across North America and international markets, offering a unique golf entertainment experience that appeals to both experienced golfers and casual entertainment seekers. The Callaway Golf segment manufactures and sells golf clubs, golf balls, golf bags, and golf apparel through both direct-to-consumer channels and retail partnerships globally.

The company maintains a substantial international presence with operations across the United States, Canada, Europe, and other key markets. Its portfolio includes iconic golf equipment brands with deep heritage in the sport, complemented by the modern entertainment-focused Topgolf venue concept that has expanded significantly in recent years.

The company's business model combines the traditional golf equipment manufacturing and retail business with innovative entertainment venue operations, creating a diversified revenue stream from both product sales and venue-based experiences. This integration allows the company to leverage brand recognition across multiple customer touchpoints while capitalizing on the growing entertainment and experiential spending trends.

The Fourth Amendment to the Loan Agreement documented here reflects the company's strategic transaction involving the sale of a sixty percent stake in its Topgolf business to LGP TG Aggregator LLC, representing a significant capital event and restructuring of the company's debt obligations to accommodate the transaction's completion and the resulting changes to the obligor structure under its credit facilities.

Company details
Sector
Consumer Discretionary
Industry (SIC)
Misc. Manufacturing
Headquarters
CARLSBAD, CA
Fiscal year end
December
CIK
837465
SIC
3949

Financial performance, year by year

Fiscal 2013–2025 · USD
$-2.02B$-301.20M$1.42B$3.14B$4.86B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Callaway Golf Co — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

308
funds hold it
1 of 35
superinvestors hold it
$1.24B
held by funds, at market
40.3%
of shares held by funds
1
bond issues held by funds

Superinvestors in Callaway Golf Co · what they did last quarter

Polen CapitalINCREASED +107.3%
Polen Capital Management
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Callaway Golf Co’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.14%of fund net assets
Avantis U.S. Small Cap Value ETF
AVUV · American Century ETF Trust
0.29%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.08%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.03%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Callaway Golf Co’s bonds, as funds hold them

Funds report holding 1 issues of Callaway Golf Co’s debt, $0.90M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 2.75%, maturing 2026 to 2026.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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