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Total assets reported in FY2025.
Total liabilities reported in FY2025.
Shareholders' equity reported in FY2025.
Equity as a share of the latest capital base.
Review the reported balance sheet and jump directly to the source filing for any fiscal year.
Callaway Golf Company’s balance sheet expanded meaningfully from 2021 to 2023, then contracted in 2024 and again slightly in 2025. Total assets rose from about **$7.7 billion in 2021** to a peak of **$9.1 billion in 2023**, before falling to **$7.6 billion in 2024** and **$7.3 billion in 2025**. This pattern suggests a period of acquisition-driven or operating growth followed by a normalization or portfolio/working-capital reduction. In the broader golf and sporting goods industry, such swings can reflect changes in inventory levels, brand investments, and post-pandemic demand moderation. Liabilities were comparatively stable over the period, moving from **$4.1 billion in 2021** to **$5.2 billion–$5.3 billion** from 2023 onward. The relatively modest increase in liabilities versus the larger movements in assets implies that the company’s leverage increased during the growth phase and then stayed elevated even as assets declined. Stockholders’ equity rose sharply from **$3.7 billion in 2021** to **$3.9 billion in 2023**, then dropped to **$2.4 billion in 2024** and **$2.1 billion in 2025**, indicating a notable weakening in book value, likely driven by lower retained earnings, asset revaluation effects, or acquisition-related balance-sheet adjustments. Overall, the company remains solvent with equity still positive, but the recent decline in equity and asset base points to a less robust financial position than at the 2023 high.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.