TOPGOLF CALLAWAY BRANDS CORP (MODG) Stock Fundamental Analysis

USA • New York Stock Exchange • NYSE:MODG • US1311931042

14.68 USD
+0.08 (+0.55%)
At close: Jan 15, 2026
14.68 USD
0 (0%)
After Hours: 1/15/2026, 8:04:00 PM
Fundamental Rating

3

MODG gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 31 industry peers in the Leisure Products industry. MODG has a medium profitability rating, but doesn't score so well on its financial health evaluation. While showing a medium growth rate, MODG is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year MODG has reported negative net income.
  • In the past year MODG had a positive cash flow from operations.
  • In multiple years MODG reported negative net income over the last 5 years.
  • Of the past 5 years MODG 4 years had a positive operating cash flow.
MODG Yearly Net Income VS EBIT VS OCF VS FCFMODG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -500M -1B

1.2 Ratios

  • MODG's Return On Assets of -19.88% is on the low side compared to the rest of the industry. MODG is outperformed by 74.19% of its industry peers.
  • MODG's Return On Equity of -60.79% is on the low side compared to the rest of the industry. MODG is outperformed by 67.74% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 2.61%, MODG is in line with its industry, outperforming 48.39% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for MODG is below the industry average of 7.48%.
  • The last Return On Invested Capital (2.61%) for MODG is above the 3 year average (2.56%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA -19.88%
ROE -60.79%
ROIC 2.61%
ROA(3y)-5.36%
ROA(5y)-3.67%
ROE(3y)-17.83%
ROE(5y)-12.71%
ROIC(3y)2.56%
ROIC(5y)2.72%
MODG Yearly ROA, ROE, ROICMODG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 -40 -60

1.3 Margins

  • With a decent Operating Margin value of 5.38%, MODG is doing good in the industry, outperforming 67.74% of the companies in the same industry.
  • In the last couple of years the Operating Margin of MODG has declined.
  • The Gross Margin of MODG (63.31%) is better than 90.32% of its industry peers.
  • MODG's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 5.38%
PM (TTM) N/A
GM 63.31%
OM growth 3Y-11.5%
OM growth 5Y-9.43%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.69%
GM growth 5Y6.77%
MODG Yearly Profit, Operating, Gross MarginsMODG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

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2

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MODG is destroying value.
  • MODG has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for MODG has been increased compared to 5 years ago.
  • Compared to 1 year ago, MODG has a worse debt to assets ratio.
MODG Yearly Shares OutstandingMODG Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
MODG Yearly Total Debt VS Total AssetsMODG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B

2.2 Solvency

  • MODG has an Altman-Z score of 1.00. This is a bad value and indicates that MODG is not financially healthy and even has some risk of bankruptcy.
  • MODG has a Altman-Z score of 1.00. This is in the lower half of the industry: MODG underperforms 61.29% of its industry peers.
  • The Debt to FCF ratio of MODG is 91.74, which is on the high side as it means it would take MODG, 91.74 years of fcf income to pay off all of its debts.
  • MODG has a Debt to FCF ratio (91.74) which is in line with its industry peers.
  • MODG has a Debt/Equity ratio of 1.13. This is a high value indicating a heavy dependency on external financing.
  • Looking at the Debt to Equity ratio, with a value of 1.13, MODG is doing worse than 64.52% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 91.74
Altman-Z 1
ROIC/WACC0.28
WACC9.2%
MODG Yearly LT Debt VS Equity VS FCFMODG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

  • A Current Ratio of 1.87 indicates that MODG should not have too much problems paying its short term obligations.
  • MODG has a Current ratio (1.87) which is comparable to the rest of the industry.
  • A Quick Ratio of 1.30 indicates that MODG should not have too much problems paying its short term obligations.
  • The Quick ratio of MODG (1.30) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 1.87
Quick Ratio 1.3
MODG Yearly Current Assets VS Current LiabilitesMODG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

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4

3. Growth

3.1 Past

  • MODG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -113.04%.
  • The earnings per share for MODG have been decreasing by -27.08% on average. This is quite bad
  • MODG shows a decrease in Revenue. In the last year, the revenue decreased by -3.58%.
  • The Revenue has been growing by 20.04% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-113.04%
EPS 3Y-40.09%
EPS 5Y-27.08%
EPS Q2Q%-350%
Revenue 1Y (TTM)-3.58%
Revenue growth 3Y10.6%
Revenue growth 5Y20.04%
Sales Q2Q%-7.79%

3.2 Future

  • MODG is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -6.48% yearly.
  • The Revenue is expected to grow by 9.72% on average over the next years. This is quite good.
EPS Next Y-192.82%
EPS Next 2Y-84.46%
EPS Next 3Y-58.51%
EPS Next 5Y-6.48%
Revenue Next Year-6.65%
Revenue Next 2Y-3.11%
Revenue Next 3Y-0.61%
Revenue Next 5Y9.72%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MODG Yearly Revenue VS EstimatesMODG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B
MODG Yearly EPS VS EstimatesMODG Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0 0.5 1

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1

4. Valuation

4.1 Price/Earnings Ratio

  • MODG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for MODG. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
MODG Price Earnings VS Forward Price EarningsMODG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 -100 -200 -300 -400

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MODG indicates a rather cheap valuation: MODG is cheaper than 87.10% of the companies listed in the same industry.
  • MODG's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 80.58
EV/EBITDA 9.92
MODG Per share dataMODG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

  • MODG's earnings are expected to decrease with -58.51% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-84.46%
EPS Next 3Y-58.51%

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0

5. Dividend

5.1 Amount

  • No dividends for MODG!.
Industry RankSector Rank
Dividend Yield 0%

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TOPGOLF CALLAWAY BRANDS CORP

NYSE:MODG (1/15/2026, 8:04:00 PM)

After market: 14.68 0 (0%)

14.68

+0.08 (+0.55%)

Chartmill FA Rating
GICS IndustryGroupConsumer Durables & Apparel
GICS IndustryLeisure Products
Earnings (Last)11-06
Earnings (Next)02-24
Inst Owners65.74%
Inst Owner ChangeN/A
Ins Owners1.93%
Ins Owner Change-2.19%
Market Cap2.70B
Revenue(TTM)4.06B
Net Income(TTM)-1.50B
Analysts73
Price Target12.53 (-14.65%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)771.95%
Min EPS beat(2)75.27%
Max EPS beat(2)1468.63%
EPS beat(4)4
Avg EPS beat(4)461.56%
Min EPS beat(4)22.6%
Max EPS beat(4)1468.63%
EPS beat(8)8
Avg EPS beat(8)320.35%
EPS beat(12)11
Avg EPS beat(12)215.49%
EPS beat(16)15
Avg EPS beat(16)168.95%
Revenue beat(2)1
Avg Revenue beat(2)0.36%
Min Revenue beat(2)-0.4%
Max Revenue beat(2)1.12%
Revenue beat(4)3
Avg Revenue beat(4)0.89%
Min Revenue beat(4)-0.4%
Max Revenue beat(4)2.46%
Revenue beat(8)5
Avg Revenue beat(8)-0.2%
Revenue beat(12)6
Avg Revenue beat(12)-0.66%
Revenue beat(16)7
Avg Revenue beat(16)-0.43%
PT rev (1m)2.08%
PT rev (3m)22.31%
EPS NQ rev (1m)0%
EPS NQ rev (3m)10.93%
EPS NY rev (1m)0%
EPS NY rev (3m)52.11%
Revenue NQ rev (1m)0.18%
Revenue NQ rev (3m)1.64%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.37%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.66
P/FCF 80.58
P/OCF 8.61
P/B 1.09
P/tB 3.89
EV/EBITDA 9.92
EPS(TTM)-0.03
EYN/A
EPS(NY)-0.28
Fwd EYN/A
FCF(TTM)0.18
FCFY1.24%
OCF(TTM)1.7
OCFY11.61%
SpS22.09
BVpS13.46
TBVpS3.78
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -19.88%
ROE -60.79%
ROCE 3.32%
ROIC 2.61%
ROICexc 3%
ROICexgc 4.34%
OM 5.38%
PM (TTM) N/A
GM 63.31%
FCFM 0.82%
ROA(3y)-5.36%
ROA(5y)-3.67%
ROE(3y)-17.83%
ROE(5y)-12.71%
ROIC(3y)2.56%
ROIC(5y)2.72%
ROICexc(3y)2.68%
ROICexc(5y)3.02%
ROICexgc(3y)4.6%
ROICexgc(5y)5.47%
ROCE(3y)3.28%
ROCE(5y)3.49%
ROICexgc growth 3Y-13.36%
ROICexgc growth 5Y-23.11%
ROICexc growth 3Y-1.37%
ROICexc growth 5Y-18.91%
OM growth 3Y-11.5%
OM growth 5Y-9.43%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.69%
GM growth 5Y6.77%
F-Score5
Asset Turnover0.54
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 91.74
Debt/EBITDA 5.71
Cap/Depr 103.09%
Cap/Sales 6.89%
Interest Coverage 1.12
Cash Conversion 63.99%
Profit Quality N/A
Current Ratio 1.87
Quick Ratio 1.3
Altman-Z 1
F-Score5
WACC9.2%
ROIC/WACC0.28
Cap/Depr(3y)196.81%
Cap/Depr(5y)179.36%
Cap/Sales(3y)10.57%
Cap/Sales(5y)8.89%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-113.04%
EPS 3Y-40.09%
EPS 5Y-27.08%
EPS Q2Q%-350%
EPS Next Y-192.82%
EPS Next 2Y-84.46%
EPS Next 3Y-58.51%
EPS Next 5Y-6.48%
Revenue 1Y (TTM)-3.58%
Revenue growth 3Y10.6%
Revenue growth 5Y20.04%
Sales Q2Q%-7.79%
Revenue Next Year-6.65%
Revenue Next 2Y-3.11%
Revenue Next 3Y-0.61%
Revenue Next 5Y9.72%
EBIT growth 1Y23.12%
EBIT growth 3Y-2.12%
EBIT growth 5Y8.72%
EBIT Next Year99.4%
EBIT Next 3Y23.1%
EBIT Next 5Y40.58%
FCF growth 1Y108.11%
FCF growth 3YN/A
FCF growth 5Y21.19%
OCF growth 1Y98.35%
OCF growth 3Y11.13%
OCF growth 5Y34.56%

TOPGOLF CALLAWAY BRANDS CORP / MODG FAQ

What is the fundamental rating for MODG stock?

ChartMill assigns a fundamental rating of 3 / 10 to MODG.


Can you provide the valuation status for TOPGOLF CALLAWAY BRANDS CORP?

ChartMill assigns a valuation rating of 1 / 10 to TOPGOLF CALLAWAY BRANDS CORP (MODG). This can be considered as Overvalued.


Can you provide the profitability details for TOPGOLF CALLAWAY BRANDS CORP?

TOPGOLF CALLAWAY BRANDS CORP (MODG) has a profitability rating of 4 / 10.


What is the expected EPS growth for TOPGOLF CALLAWAY BRANDS CORP (MODG) stock?

The Earnings per Share (EPS) of TOPGOLF CALLAWAY BRANDS CORP (MODG) is expected to decline by -192.82% in the next year.