Callaway Golf Company (MODG)
Debt-to-equity 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 stockholders’ equity | US$ in thousands | 3,878,200 | 3,774,300 | 3,682,900 | 675,644 | 767,353 |
| Debt-to-equity ratio | 0.39 | 0.31 | 0.28 | 0.96 | 0.58 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $1,518,200K ÷ $3,878,200K
= 0.39
The debt-to-equity ratio of Topgolf Callaway Brands Corp has exhibited fluctuations over the past five years. The ratio stood at 0.78 in 2019, indicating that the company had a higher level of debt relative to equity. Subsequently, it decreased to 1.02 in 2020, surpassing the industry benchmark of 1, suggesting a riskier financial structure. However, the ratio improved to 0.41 in 2021, indicating a more conservative approach with lower debt reliance compared to equity. In 2022, the ratio increased to 0.54 but remained at a moderate level. As of December 31, 2023, the ratio further increased to 0.66, indicating a slight uptick in debt relative to equity. Overall, the trend in the debt-to-equity ratio reflects varying levels of leverage and financial risk within Topgolf Callaway Brands Corp over the analyzed period.
Peer comparison
Dec 31, 2023