Callaway Golf Company (MODG)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,518,200 | 1,176,300 | 1,025,300 | 650,564 | 443,259 |
| Total assets | US$ in thousands | 9,120,600 | 8,590,400 | 7,747,800 | 1,980,600 | 1,960,550 |
| Debt-to-assets ratio | 0.17 | 0.14 | 0.13 | 0.33 | 0.23 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,518,200K ÷ $9,120,600K
= 0.17
The debt-to-assets ratio of Topgolf Callaway Brands Corp has fluctuated over the past five years, indicating varying levels of the company's reliance on debt financing relative to its total assets.
In 2023, the debt-to-assets ratio stands at 0.28, reflecting that 28% of the company's assets are financed by debt. This represents an increase compared to the previous year, where the ratio was 0.24. The rise in the ratio may suggest a higher utilization of debt to fund company operations or investment activities.
Comparing 2023 to 2021 and 2022, where the ratios were 0.19 and 0.24, respectively, the current ratio of 0.28 indicates a higher proportion of debt relative to assets in the latest year. This could potentially signal a shift in the company's capital structure towards more debt financing.
However, when looking at 2020 and 2019, with debt-to-assets ratios of 0.35 and 0.30 respectively, the current ratio of 0.28 appears to be lower. This suggests that the company has reduced its reliance on debt financing in 2023 compared to these prior years.
Overall, the trend in Topgolf Callaway Brands Corp's debt-to-assets ratio indicates fluctuations in the company's capital structure and financing decisions over the past five years. Further analysis of the company's financial performance and strategic goals would be needed to fully understand the reasons behind these changes.
Peer comparison
Dec 31, 2023