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Topgolf Callaway Brands Corp is a modern golf and active lifestyle company that provides world-class golf entertainment experiences, designs and manufactures premium golf equipment, and sells golf and active lifestyle apparel and other accessories through brands such as, Topgolf, Callaway Golf, Odyssey, TravisMathew, Jack Wolfskin, OGIO and Toptracer. The company's reportable segments are; Topgolf, Golf Equipment and Active Lifestyle. Majority of the revenue is generated from its Topgolf segment which is predominantly comprised of service revenues and expenses from the company operated Topgolf venues, Toptracer ball-flight tracking technology, and WGT digital golf game. Geographically, majority of the revenue for the company is derived from United States.
1982
30K+
LTM Revenue $4.2B
LTM EBITDA $552M
$4.9B
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Topgolf has a last 12-month revenue of $4.2B and a last 12-month EBITDA of $552M.
In the most recent fiscal year, Topgolf achieved revenue of $4.2B and an EBITDA of -$974M.
Topgolf expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Topgolf valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $4.3B | $4.2B | XXX | XXX | XXX |
| Gross Profit | $2.4B | $2.7B | XXX | XXX | XXX |
| Gross Margin | 56% | 63% | XXX | XXX | XXX |
| EBITDA | $485M | -$974M | XXX | XXX | XXX |
| EBITDA Margin | 11% | -23% | XXX | XXX | XXX |
| Net Profit | $158M | $95.0M | XXX | XXX | XXX |
| Net Margin | 4% | 2% | XXX | XXX | XXX |
| Net Debt | $1.9B | $2.2B | XXX | XXX | XXX |
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As of April 15, 2025, Topgolf's stock price is $6.
Topgolf has current market cap of $1.2B, and EV of $4.9B.
See Topgolf trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $4.9B | $1.2B | XXX | XXX | XXX | XXX | $0.03 |
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Sign UpAs of April 15, 2025, Topgolf has market cap of $1.2B and EV of $4.9B.
Topgolf's trades at 1.2x LTM EV/Revenue multiple, and 8.8x LTM EBITDA.
Analysts estimate Topgolf's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Topgolf and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $4.9B | XXX | XXX | XXX |
| EV/Revenue | 1.1x | XXX | XXX | XXX |
| EV/EBITDA | -5.0x | XXX | XXX | XXX |
| P/E | -0.8x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 58.3x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpTopgolf's NTM/LTM revenue growth is -1%
Topgolf's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Topgolf's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Topgolf's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Topgolf and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -1% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -23% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -301% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -24% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.1M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 2% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 58% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Cambuci | XXX | XXX | XXX | XXX | XXX | XXX |
| Knaus Tabbert | XXX | XXX | XXX | XXX | XXX | XXX |
| Alumexx | XXX | XXX | XXX | XXX | XXX | XXX |
| HanseYachts | XXX | XXX | XXX | XXX | XXX | XXX |
| Harvia | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Topgolf acquired XXX companies to date.
Last acquisition by Topgolf was XXXXXXXX, XXXXX XXXXX XXXXXX . Topgolf acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Topgolf founded? | Topgolf was founded in 1982. |
| Where is Topgolf headquartered? | Topgolf is headquartered in United States of America. |
| How many employees does Topgolf have? | As of today, Topgolf has 30K+ employees. |
| Who is the CEO of Topgolf? | Topgolf's CEO is Mr. Oliver G. Brewer, III. |
| Is Topgolf publicy listed? | Yes, Topgolf is a public company listed on NYS. |
| What is the stock symbol of Topgolf? | Topgolf trades under MODG ticker. |
| When did Topgolf go public? | Topgolf went public in 1992. |
| Who are competitors of Topgolf? | Similar companies to Topgolf include e.g. Cambuci, Knaus Tabbert, Alumexx, HanseYachts. |
| What is the current market cap of Topgolf? | Topgolf's current market cap is $1.2B |
| What is the current revenue of Topgolf? | Topgolf's last 12-month revenue is $4.2B. |
| What is the current EBITDA of Topgolf? | Topgolf's last 12-month EBITDA is $552M. |
| What is the current EV/Revenue multiple of Topgolf? | Current revenue multiple of Topgolf is 1.2x. |
| What is the current EV/EBITDA multiple of Topgolf? | Current EBITDA multiple of Topgolf is 8.8x. |
| What is the current revenue growth of Topgolf? | Topgolf revenue growth between 2023 and 2024 was -1%. |
| Is Topgolf profitable? | Yes, Topgolf is EBITDA-positive (as of the last 12 months). |
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