Callaway Golf Company (MODG)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 9,120,600 | 8,982,000 | 8,964,400 | 8,941,400 | 8,590,400 | 8,221,700 | 8,156,200 | 8,079,400 | 7,747,800 | 7,397,380 | 7,271,830 | 7,108,560 | 1,980,600 | 1,966,310 | 1,859,660 | 2,135,080 | 1,960,550 | 1,859,650 | 1,937,220 | 1,933,720 |
| 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 |
| Financial leverage ratio | 2.35 | 2.27 | 2.28 | 2.35 | 2.28 | 2.16 | 2.15 | 2.18 | 2.10 | 1.99 | 1.94 | 1.97 | 2.93 | 2.86 | 2.98 | 2.81 | 2.55 | 2.39 | 2.54 | 2.61 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $9,120,600K ÷ $3,878,200K
= 2.35
The financial leverage ratio of Topgolf Callaway Brands Corp has shown some fluctuations over the past eight quarters, ranging from 2.15 to 2.35. The ratio indicates that, on average, the company's total assets are financed by debt at approximately 2.28 times the equity.
It is observed that the company's financial leverage ratio remained relatively stable in the range of 2.15 to 2.35 during the periods analyzed. A ratio above 2 suggests that the company relies more on debt to finance its assets compared to equity.
Overall, the trend in the financial leverage ratio does not show any significant overall upward or downward movement, implying that the company has been maintaining a consistent level of leverage in its capital structure over the past two years. However, it is important for investors and stakeholders to continue monitoring the financial leverage ratio in conjunction with other financial metrics to assess the company's overall financial health and risk profile.
Peer comparison
Dec 31, 2023