Topgolf Callaway Brands Corp. (MODG) Financial Ratios
30 years of historical data (1995–2024) · Consumer Cyclical · Leisure
EV/EBITDA
↓
N/A
—
5yr avg: 16.93
30Y Low5.3·High40.8
P/FCF
↑
26.73
↑+87% vs avg
5yr avg: 14.32
30Y Low9.9·High118.3
P/B Ratio
↓
0.96
↓-32% vs avg
5yr avg: 1.41
30Y Low0.6·High7.0
ROE
↓
-46.1%
↑-446% vs avg
5yr avg: -8.4%
30Y Low-46%·High48%
Debt/EBITDA
↑
N/A
—
5yr avg: 8.22
30Y Low0.0·High8.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MODG Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Topgolf Callaway Brands Corp. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 26.7x P/FCF, 87% above the 5-year average of 14.3x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $1.4B | $2.9B | $4.0B | $4.9B | $2.3B | $2.0B | $1.5B | $1.3B | $1.1B | $797M |
| Enterprise Value | $6.0B | $5.1B | $6.6B | $7.4B | $7.5B | $2.8B | $2.7B | $1.5B | $1.3B | $936M | $762M |
| P/E Ratio → | -1.60 | — | 30.51 | 25.32 | 15.08 | — | 25.85 | 14.17 | 33.17 | 5.54 | 55.41 |
| P/S Ratio | 0.55 | 0.34 | 0.67 | 0.99 | 1.55 | 1.42 | 1.20 | 1.20 | 1.28 | 1.21 | 0.94 |
| P/B Ratio | 0.96 | 0.60 | 0.74 | 1.05 | 1.32 | 3.35 | 2.66 | 2.02 | 2.04 | 1.73 | 1.93 |
| P/FCF | 26.73 | 16.67 | — | — | — | 11.97 | 64.09 | 26.80 | 14.70 | 17.06 | 49.16 |
| P/OCF | 6.06 | 3.78 | 7.91 | — | 17.45 | 9.91 | 23.59 | 16.11 | 11.43 | 13.52 | 26.06 |
P/E links to full P/E history page with 30-year chart
MODG EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.21 | 1.53 | 1.84 | 2.38 | 1.75 | 1.58 | 1.18 | 1.28 | 1.07 | 0.90 |
| EV / EBITDA | — | — | 13.75 | 16.38 | 20.68 | — | 16.07 | 9.86 | 13.97 | 15.41 | 17.20 |
| EV / EBIT | — | — | 26.79 | 25.86 | 15.99 | — | 20.06 | 11.07 | 17.09 | 21.20 | 28.29 |
| EV / FCF | — | 59.39 | — | — | — | 14.69 | 84.59 | 26.38 | 14.73 | 15.21 | 47.01 |
MODG Profitability
Margins and return-on-capital ratios measuring operating efficiency
Topgolf Callaway Brands Corp. earns an operating margin of -29.7%, below the Consumer Cyclical sector average of 2.0%. Operating margins have compressed from 6.4% to -29.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -46.1% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.5% | 62.5% | 61.9% | 60.3% | 59.5% | 41.4% | 45.1% | 46.5% | 45.8% | 44.2% | 42.4% |
| Operating Margin | -29.7% | -29.7% | 5.5% | 6.4% | 6.5% | -6.6% | 7.8% | 10.3% | 7.5% | 5.1% | 3.2% |
| Net Profit Margin | -34.1% | -34.1% | 2.2% | 4.0% | 10.3% | -8.0% | 4.7% | 8.4% | 3.9% | 21.8% | 1.7% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -46.1% | -46.1% | 2.5% | 4.2% | 14.8% | -17.6% | 10.6% | 15.0% | 6.4% | 37.2% | 4.1% |
| ROA | -17.3% | -17.3% | 1.1% | 1.9% | 6.6% | -6.4% | 5.3% | 10.2% | 4.6% | 26.5% | 2.3% |
| ROIC | -13.8% | -13.8% | 2.4% | 2.9% | 4.1% | -6.1% | 9.3% | 14.0% | 10.2% | 7.6% | 6.2% |
| ROCE | -16.8% | -16.8% | 3.0% | 3.6% | 4.8% | -7.0% | 12.1% | 18.0% | 12.2% | 8.3% | 6.0% |
MODG Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $3.7B ($4.1B total debt minus $445M cash).
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.72 | 1.72 | 1.05 | 0.95 | 0.80 | 1.30 | 0.99 | 0.05 | 0.13 | 0.02 | 0.04 |
| Debt / EBITDA | — | — | 8.53 | 7.93 | 8.19 | — | 4.53 | 0.27 | 0.91 | 0.20 | 0.34 |
| Net Debt / Equity | — | 1.54 | 0.95 | 0.90 | 0.71 | 0.76 | 0.85 | -0.03 | 0.00 | -0.19 | -0.08 |
| Net Debt / EBITDA | — | — | 7.71 | 7.53 | 7.21 | — | 3.89 | -0.16 | 0.02 | -1.88 | -0.79 |
| Debt / FCF | — | 42.72 | — | — | — | 2.72 | 20.49 | -0.43 | 0.02 | -1.85 | -2.15 |
| Interest Coverage | -5.44 | -5.44 | 1.13 | 1.80 | 1.77 | -2.22 | 3.38 | 23.17 | 18.06 | 18.65 | 3.09 |
MODG Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.94x means Topgolf Callaway Brands Corp. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.02x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 1.29x to 1.94x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.94 | 1.94 | 1.72 | 1.29 | 1.35 | 2.33 | 1.51 | 1.73 | 1.48 | 2.46 | 2.19 |
| Quick Ratio | 1.02 | 1.02 | 0.88 | 0.48 | 0.73 | 1.43 | 0.64 | 0.62 | 0.65 | 1.45 | 1.02 |
| Cash Ratio | 0.54 | 0.54 | 0.42 | 0.15 | 0.41 | 0.94 | 0.20 | 0.21 | 0.27 | 0.67 | 0.28 |
| Asset Turnover | — | 0.56 | 0.47 | 0.47 | 0.40 | 0.80 | 0.87 | 1.18 | 1.06 | 1.09 | 1.34 |
| Inventory Turnover | 2.10 | 2.10 | 2.05 | 1.65 | 2.38 | 2.64 | 2.05 | 1.97 | 2.17 | 2.57 | 2.33 |
| Days Sales Outstanding | — | 24.33 | 28.66 | 22.54 | 18.17 | 31.94 | 32.27 | 20.96 | 32.97 | 53.57 | 50.01 |
MODG Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Topgolf Callaway Brands Corp. returns 1.4% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 0.0% | 0.1% | 0.2% | 0.3% | 0.3% | 0.4% | 0.4% |
| Payout Ratio | — | — | — | — | 0.0% | — | 4.8% | 3.6% | 9.2% | 2.0% | 23.3% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 3.3% | 3.9% | 6.6% | — | 3.9% | 7.1% | 3.0% | 18.1% | 1.8% |
| FCF Yield | 3.7% | 6.0% | — | — | — | 8.4% | 1.6% | 3.7% | 6.8% | 5.9% | 2.0% |
| Buyback Yield | 1.4% | 2.2% | 1.9% | 0.9% | 0.8% | 1.0% | 1.4% | 1.5% | 1.2% | 0.5% | 0.2% |
| Total Shareholder Yield | 1.4% | 2.2% | 1.9% | 0.9% | 0.8% | 1.1% | 1.6% | 1.8% | 1.5% | 0.8% | 0.7% |
| Shares Outstanding | — | $184M | $201M | $201M | $177M | $94M | $96M | $97M | $97M | $96M | $85M |
Peer Comparison
Compare MODG with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MODGYou | $2B | -1.6 | — | 26.7 | 62.5% | -29.7% | -46.1% | -13.8% | — |
 GOLF | $6B | 34.8 | 20.9 | 52.6 | 47.3% | 11.5% | 23.8% | 13.3% | 3.1 |
 DKS | $20B | 23.4 | 14.5 | 41.3 | 32.9% | 7.7% | 19.4% | 11.1% | 4.3 |
 SHAK | $2B | 54.2 | 15.2 | 42.1 | 18.0% | 5.9% | 8.7% | 6.0% | 4.7 |
 PLNT | $4B | 20.2 | 7.8 | 16.5 | 82.6% | 29.8% | — | 35.2% | 0.8 |
 NKE | $54B | 20.9 | 12.7 | 16.5 | 42.7% | 8.0% | 23.3% | 16.7% | 2.4 |
 UA | $3B | -5.1 | 55.7 | — | 45.5% | -0.7% | -30.0% | -0.9% | 26.1 |
 EXP | $7B | 17.1 | 14.1 | 35.2 | 28.3% | 24.3% | 28.9% | 14.8% | 3.0 |
 WMS | $11B | 27.0 | 14.2 | 19.8 | 36.3% | 22.5% | 23.7% | 16.8% | 2.0 |
 SYY | $38B | 21.1 | 12.2 | 21.2 | 18.4% | 3.8% | 97.5% | 15.7% | 3.5 |
 PFGC | $16B | 47.5 | 15.8 | 23.1 | 11.7% | 1.3% | 7.9% | 5.7% | 5.2 |
| Consumer Cyclical Median | — | 21.2 | 12.2 | 15.6 | 36.2% | 2.0% | 5.3% | 5.2% | 4.8 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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MODG — Frequently Asked Questions
Quick answers to the most common questions about buying MODG stock.
What is Topgolf Callaway Brands Corp.'s P/E ratio?
Topgolf Callaway Brands Corp.'s current P/E ratio is -1.6x. The historical average is 25.6x.
What is Topgolf Callaway Brands Corp.'s ROE?
Topgolf Callaway Brands Corp.'s return on equity (ROE) is -46.1%. The historical average is 5.6%.
Is MODG stock overvalued?
Based on historical data, Topgolf Callaway Brands Corp. is trading at a P/E of -1.6x. Compare with industry peers and growth rates for a complete picture.
What are Topgolf Callaway Brands Corp.'s profit margins?
Topgolf Callaway Brands Corp. has 62.5% gross margin and -29.7% operating margin.