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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 $4.1B
LTM EBITDA $530M
$3.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Topgolf has a last 12-month revenue (LTM) of $4.1B and a last 12-month EBITDA of $530M.
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| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $4.1B | XXX | $4.2B | XXX | XXX | XXX |
| Gross Profit | $2.7B | XXX | $2.7B | XXX | XXX | XXX |
| Gross Margin | 64% | XXX | 63% | XXX | XXX | XXX |
| EBITDA | $530M | XXX | -$974M | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | -23% | XXX | XXX | XXX |
| EBIT | $219M | XXX | $210M | XXX | XXX | XXX |
| EBIT Margin | 5% | XXX | 5% | XXX | XXX | XXX |
| Net Profit | -$891M | XXX | -$1.4B | XXX | XXX | XXX |
| Net Margin | -22% | XXX | -34% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $2.2B | XXX | XXX | XXX |
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As of May 30, 2025, Topgolf's stock price is $6.
Topgolf has current market cap of $1.2B, and EV of $3.7B.
See Topgolf trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3.7B | $1.2B | XXX | XXX | XXX | XXX | $-0.06 |
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Start Free TrialAs of May 30, 2025, Topgolf has market cap of $1.2B and EV of $3.7B.
Topgolf's trades at 0.9x EV/Revenue multiple, and -3.9x EV/EBITDA.
Equity research analysts estimate Topgolf's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Topgolf has a P/E ratio of -1.3x.
See valuation multiples for Topgolf and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $1.2B | XXX | $1.2B | XXX | XXX | XXX |
| EV (current) | $3.7B | XXX | $3.7B | XXX | XXX | XXX |
| EV/Revenue | 0.9x | XXX | 0.9x | XXX | XXX | XXX |
| EV/EBITDA | 7.1x | XXX | -3.9x | XXX | XXX | XXX |
| EV/EBIT | 17.1x | XXX | 17.9x | XXX | XXX | XXX |
| EV/Gross Profit | 1.4x | XXX | n/a | XXX | XXX | XXX |
| P/E | -1.3x | XXX | -0.8x | XXX | XXX | XXX |
| EV/FCF | 24.8x | XXX | 45.0x | 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.
Start Free TrialTopgolf's last 12 month revenue growth is -2%
Topgolf's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $0.1M for the same period.
Topgolf's rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Topgolf's rule of X is 7% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Topgolf and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | -2% | XXX | -2% | XXX | XXX | XXX |
| EBITDA Margin | 13% | XXX | -23% | XXX | XXX | XXX |
| EBITDA Growth | -14% | XXX | -4% | XXX | XXX | XXX |
| Rule of 40 | 9% | XXX | -25% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 7% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 2% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 58% | 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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Start Free Trial| 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 months revenue is $4.1B. |
| What is the current revenue growth of Topgolf? | Topgolf revenue growth (NTM/LTM) is -2%. |
| What is the current EV/Revenue multiple of Topgolf? | Current revenue multiple of Topgolf is 0.9x. |
| Is Topgolf profitable? | Yes, Topgolf is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Topgolf? | Topgolf's last 12 months EBITDA is $530M. |
| What is Topgolf's EBITDA margin? | Topgolf's last 12 months EBITDA margin is 13%. |
| What is the current EV/EBITDA multiple of Topgolf? | Current EBITDA multiple of Topgolf is 7.1x. |
| What is the current FCF of Topgolf? | Topgolf's last 12 months FCF is $151M. |
| What is Topgolf's FCF margin? | Topgolf's last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of Topgolf? | Current FCF multiple of Topgolf is 24.8x. |
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