Callaway Golf Company (CALY) Fair Value & Analysis
Consumer Cyclical · US · Market cap $3.5B
Callaway Golf Company
CALY · US
Fair value as of: Jul 18, 2026
From 24 valuation models · updated 23 days ago
Share price −2.7% over the past month.
A solid business, but screening 73% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($5.94). The favourable scenario is already priced in.
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range $4.97 – $27.68 · fair‑value band $3.56 – $5.94 · the $17.59 price screens above the $4.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Callaway Golf Company (CALY) currently trades at $17.59, while our model-based Fair Value estimate is $4.75, implying the stock looks roughly 73.0% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Callaway Golf Company generated revenue of $2.1B at a net margin of -15.0%. Revenue grew 9.2% year over year. It earns a return on equity of 2.2%. Net debt stands at $771M. Fundamentals as of Jul 18, 2026
Our scenario range runs from $3.56 (bear case) to $5.94 (bull case); at $17.59, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 2% below its 52-week high and 179% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at -73%, CALY screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models ($15.97) versus Earnings-Based ($1.20). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Callaway Golf Company designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. It operates in two business segments: Golf Equipment; and Apparel, Gear and Other.
Full company description
Callaway Golf Company designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally. It operates in two business segments: Golf Equipment; and Apparel, Gear and Other. The company provides drivers, fairway woods, hybrids, irons, and wedges under the Callaway brands; packaged sets under the Callaway and Strata brands; and putters under Odyssey brand. It designs, manufactures, and sells golf clubs, golf balls, apparel, bags, and other accessories under TravisMathew and OGIO brand. It sells its products through golf retailers, sporting goods retailers, online retailers, mass merchants, department stores, third-party distributors, and merchants, and directly to consumers through its retail stores and websites. The company was formerly known as Topgolf Callaway Brands Corp. and changed its name to Callaway Golf Company in January 2026. The company was incorporated in 1982 and is headquartered in Carlsbad, California.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Callaway Golf Company reported revenue of $2.1B in FY2025 versus $3.1B in FY2021, a compound −10.0%/yr. Reported net income was $38.8M in FY2025, compounding −41.1%/yr from FY2021.
CALY screens 73% overvalued. Compare with ANTA Sports Products Limited →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Callaway forecasts $2.045B-$2.070B 2026 net sales and $246M-$260M adjusted EBITDA amid revised tariff assumptions
- Evaluating How Callaway Golf (CALY) is Unlocking Value
- Callaway Golf Company (CALY): Buy, Sell, or Hold Post Q1 Earnings?
- Is Callaway Golf Company (CALY) Outperforming Other Consumer Discretionary Stocks This Year?
Peer Group
Leisure · 192 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Leisure median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Leisure stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| ANTA Sports Products Limited 2020 | HK$74.15 | HK$119.29 | +61% |
| Pop Mart International Group 9992 | HK$160.20 | HK$227.30 | +42% |
| Amer Sports, Inc AS | $36.44 | $16.16 | -56% |
| Hasbro, Inc HAS | $81.55 | $83.38 | +2% |
| Life Time Group LTH | $42.15 | $16.15 | -62% |
| Acushnet Holdings GOLF | $114.78 | $37.79 | -67% |
| Li Ning Company 2331 | HK$14.80 | HK$29.26 | +98% |
| Benefit Systems S.A BFT | 5,255 PLN | 3,714 PLN | -29% |
| Ninebot Limited 689009 | ¥37.82 | ¥39.17 | +4% |
| Asmodee Group ASMDEEB | kr 145.70 | kr 41.90 | -71% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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