CALY Callaway Golf margins

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  2. Consumer Cyclical
  3. NYSE: CALY
  4. Margins
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Relative Growth: Rel. Growth: 52
Relative Strength: Rel. Strength: 75
Relative Valuation: Rel. Valuation: 11
Relative Profitability: Rel. Profitability: 41
Gross margin
-37.8%
Operating margin
34.1%
EBITDA margin
-50.5%
Net margin
-30.8%

Currently, Callaway Golf has a gross margin of -37.8%, an operating margin of 34.1%, an EBITDA margin of -50.5%, and a net margin of -30.8%; its gross margin is negative at -37.8%, its EBITDA margin is negative at -50.5%, and its net margin is negative at -30.8%. The company's available margins all improved, with EBITDA margin showing the strongest expansion of 302.2 percentage points.

CALY margin history

Gross, operating, EBITDA and net margin trends

Callaway Golf's margins averaged 5.54% gross, 15.42% operating, -66.23% EBITDA, and -64.12% net over the last 3 years. The current figures show operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

CALY margin expansion

Year-over-year margin changes in percentage points

Year over year, gross, operating, EBITDA, and net margins all increased, with EBITDA margin showing the largest gain at 302.2 percentage points.

Gross margin expansion
58.6pp
Operating margin expansion
5.2pp
EBITDA margin expansion
302.2pp
Net margin expansion
299.7pp

CALY Gross margin

Callaway Golf's gross margin averaged 5.54% over the last 3 years. Callaway Golf currently reports a gross margin of -37.8%, 43.3 percentage points below its three-year average. Over the last 3 years, Callaway Golf's gross margin peaked at 44.4% in Jun 2024 and reached a low of -96.4% in Sep 2025.

CALY Operating margin

Callaway Golf recorded an average operating margin of 15.42% across the last 3 years. The current operating margin of 34.1% is 18.7 percentage points above its three-year average. During this period, operating margin reached a high of 34.1% in Sep 2026 and a low of 6.2% in Sep 2024.

CALY EBITDA margin

The average EBITDA margin for Callaway Golf was -66.23% in the last 3 years. Currently, the current EBITDA margin for Callaway Golf is -50.5%, 15.7 percentage points above its three-year average. The EBITDA margin for Callaway Golf moved between -352.7% in Sep 2025 and 11.9% in Mar 2024.

CALY Net margin

Across the last 3 years, Callaway Golf's net margin averaged -64.12%. The current net margin stands at -30.8%, 33.3 percentage points above its three-year average. Net margin was highest at 4.5% in Dec 2023 and lowest at -330.5% in Sep 2025.

CALY margin group comparison

Margins compared with peer-group, industry and sector averages

Callaway Golf's gross margin of -37.8% is below the Consumer Cyclical sector and the industry average. In comparison with its Consumer Cyclical sector average of 36.3%, Callaway Golf's gross margin is 204% lower.

CALY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Callaway Golf's gross margin?

As of Sep 30, 2026, CALY has a negative gross margin of -37.8%.

What is Callaway Golf's operating margin?

The current operating margin for CALY is 34.1% as of Sep 30, 2026.

What is Callaway Golf's EBITDA margin?

The current EBITDA margin for CALY is -50.5% as of Sep 30, 2026.

What is Callaway Golf's net margin?

As of Sep 30, 2026, CALY has a negative net margin of -30.8%.

What are the average margins of CALY?

Callaway Golf's average margins over the last 3 years were 5.5% gross, 15.4% operating, -66.2% EBITDA, and -64.1% net.

What are the highest historical margins of CALY?

Across the 5-year period, CALY posted its highest margins at 61.9% gross in Sep 2023, 34.1% operating in Sep 2026, 19.9% EBITDA in Dec 2021, and 10.3% net in Dec 2021.

What are the lowest historical margins of CALY?

Callaway Golf's lowest recorded margins during the past 5 years were -96.4% gross in Sep 2025, 5.5% operating in Jun 2023, -352.7% EBITDA in Sep 2025, and -330.5% net in Sep 2025.