Topgolf Callaway Brands Corp.

DB:CLY Stock Report

Market Cap: €1.4b

Topgolf Callaway Brands Valuation

Is CLY undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CLY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CLY (€7.8) is trading above our estimate of fair value (€1.38)

Significantly Below Fair Value: CLY is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CLY?

Key metric: As CLY is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CLY. This is calculated by dividing CLY's market cap by their current revenue.
What is CLY's PS Ratio?
PS Ratio0.3x
SalesUS$4.21b
Market CapUS$1.44b

Price to Sales Ratio vs Peers

How does CLY's PS Ratio compare to its peers?

The above table shows the PS ratio for CLY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.5x
TNIE tonies
2.2x18.0%€834.4m
ZPF Zapf Creation
3.1xn/a€199.4m
H9Y HanseYachts
0.2xn/a€25.9m
ULC UNITEDLABELS
0.5x11.8%€11.4m
CLY Topgolf Callaway Brands
0.3x3.9%€1.4b

Price-To-Sales vs Peers: CLY is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (1.5x).

Price to Sales Ratio vs Industry

How does CLY's PS Ratio compare vs other companies in the European Leisure Industry?

4 CompaniesPrice / SalesEstimated GrowthMarket Cap
CLY 0.3xIndustry Avg. 0.8xNo. of Companies6PS00.81.62.43.24+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CLY is good value based on its Price-To-Sales Ratio (0.3x) compared to the European Leisure industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is CLY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CLY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.5x

Price-To-Sales vs Fair Ratio: CLY is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CLY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€7.80
€11.82
+51.5%
19.4%€15.60€7.80n/a10
Dec ’25€7.92
€13.97
+76.3%
52.2%€35.88€8.97n/a11
Nov ’25€8.83
€14.15
+60.3%
45.1%€35.09€9.24n/a13
Oct ’25€9.78
€14.20
+45.2%
43.5%€34.19€9.00n/a13
Sep ’25€9.03
€14.53
+61.0%
41.5%€34.31€9.03n/a13
Aug ’25€15.11
€18.72
+23.9%
41.0%€36.99€10.17n/a14
Jul ’25€14.12
€19.31
+36.8%
40.6%€37.25€10.24n/a13
Jun ’25€14.07
€18.98
+34.9%
40.0%€37.13€10.21n/a14
May ’25€15.18
€18.47
+21.7%
43.0%€37.31€9.33n/a14
Apr ’25€15.00
€16.84
+12.3%
39.0%€36.91€9.23n/a13
Mar ’25€13.10
€16.84
+28.6%
39.0%€36.91€9.23n/a13
Feb ’25€12.20
€16.38
+34.2%
44.4%€39.80€8.33n/a14
Jan ’25€13.10
€16.08
+22.7%
45.0%€39.39€9.16€7.3314
Dec ’24€11.20
€16.60
+48.2%
44.7%€39.42€9.17€7.9214
Nov ’24€11.40
€24.81
+117.6%
37.5%€52.99€11.83€8.8314
Oct ’24€12.70
€25.07
+97.4%
36.4%€52.97€11.82€9.7814
Sep ’24€16.00
€27.11
+69.4%
31.2%€51.40€14.68€9.0313
Aug ’24€18.10
€29.45
+62.7%
25.2%€50.93€16.37€15.1113
Jul ’24€18.20
€29.83
+63.9%
26.1%€52.08€16.74€14.1213
Jun ’24€15.80
€29.83
+88.8%
26.1%€52.08€16.74€14.0713
May ’24€20.20
€30.71
+52.0%
22.6%€51.05€20.97€15.1813
Apr ’24€19.24
€31.92
+65.8%
23.2%€52.44€19.66€15.0012
Mar ’24€21.68
€31.92
+47.2%
23.2%€52.44€19.66€13.1012
Feb ’24€22.25
€30.66
+37.8%
24.9%€51.51€19.32€12.2012
Jan ’24€18.10
€32.16
+77.7%
24.8%€54.02€21.22€13.1012

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 05:48
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Topgolf Callaway Brands Corp. is covered by 34 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Craig KennisonBaird
Derek LeckowBarrington Research Associates, Inc.
Alexander MarocciaBerenberg