Callaway Golf vs Yeti
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KIRA’s take AI analyst
I put Callaway Golf and Yeti side by side, using each one’s latest annual report. Here is what stands out:
- Callaway Golf is the larger business, with $2.1B of revenue in fiscal 2025 against $1.9B for Yeti.
- Yeti grew revenue faster (2.1%, against −0.9%).
- Yeti kept more of each dollar of sales as operating profit (11.4% operating margin, against 6.2%).
- Callaway Golf turned more of its sales into free cash flow (14.7% FCF margin, against 11.4%).
- Yeti earned a higher return on the capital invested in it (32.1%, against 2.1%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Callaway Golf
CALY
2/11
FCF marginShare count change
Yeti
YETI
9/11
Revenue growth5-year growthGross marginOperating marginNet marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | CALY FY25 | YETI FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.7B | $3.3B |
| Revenue | $2.1B | $1.9B |
| Free cash flow | $302M | $212M |
| Net income | −$409M | $165M |
| Growth | ||
| Revenue growth | −0.9% | 2.1% |
| 5-year growth | 5.3% | 11.4% |
| Share count change | −6.8% | −4.9% |
| Profitability | ||
| Gross margin | 42.1% | 57.4% |
| Operating margin | 6.2% | 11.4% |
| Net margin | −19.9% | 8.9% |
| FCF margin | 14.7% | 11.4% |
| Return on capital | 2.1% | 32.1% |
| Return on equity | −18.3% | 23.8% |
| Balance sheet | ||
| Net debt | $558M | −$113M |
| Net debt / EBITDA | 3.2x | −0.4x |
| Dividends and buybacks | $3.7M | $298M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 5 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.