Callaway Golf Company (MODG)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,518,200 | 1,521,500 | 1,525,400 | 1,529,500 | 1,176,300 | 1,065,900 | 1,067,400 | 1,070,500 | 1,025,300 | 1,049,020 | 1,064,430 | 1,174,990 | 650,564 | 651,011 | 628,851 | 453,774 | 443,259 | 445,019 | 465,826 | 465,756 |
| Total stockholders’ equity | US$ in thousands | 3,878,200 | 3,951,900 | 3,932,700 | 3,811,100 | 3,774,300 | 3,806,500 | 3,790,200 | 3,700,500 | 3,682,900 | 3,721,930 | 3,739,460 | 3,612,820 | 675,644 | 688,534 | 624,548 | 759,967 | 767,353 | 777,356 | 761,936 | 741,854 |
| Debt-to-equity ratio | 0.39 | 0.39 | 0.39 | 0.40 | 0.31 | 0.28 | 0.28 | 0.29 | 0.28 | 0.28 | 0.28 | 0.33 | 0.96 | 0.95 | 1.01 | 0.60 | 0.58 | 0.57 | 0.61 | 0.63 |
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 been relatively stable over the past eight quarters, ranging from 0.44 to 0.66. It indicates that the company relies more on debt financing compared to equity. The Q4 2023 ratio of 0.66 is the highest point in the period, suggesting potentially higher financial leverage at the end of the year. However, the ratios in the range of 0.44 to 0.62 in the preceding quarters indicate a balanced approach towards debt and equity financing. It would be essential for the company to monitor and manage its debt levels effectively to maintain a healthy capital structure and financial stability.
Peer comparison
Dec 31, 2023