Professional
Added to YB: 2025-09-08
Pitch date: 2025-09-04
MODG [bullish]
Topgolf Callaway Brands Corp.
+24.32%
current return
Author Info
The Lion's Roar is searching for the next long/short idea. Primarily US, SMID cap focused, but looking for value everywhere. Sign up for the newsletter.
Company Info
Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories in the United States, Europe, Asia, and Internationally.
Market Cap
$1.7B
Pitch Price
$9.17
Price Target
19.00 (+67%)
Dividend
N/A
EV/EBITDA
7.90
P/E
-1.14
EV/Sales
1.32
Sector
Leisure Products
Category
special_situation
TopGolf Callaway - Good Co/Bad Co
MODG: TopGolf spin/sale by 2026 creates 50%+ upside. Standalone Callaway trades 5x 2027e EPS vs GOLF 2.3x EV/sales. COVID golf cohort entering replacement cycle, female participation +41% since 2019. TopTracer at 24k bays, underpriced at $200/mo with 65% margins. Jack Wolfskin sale deleverages balance sheet. $19 target (125% upside) at 12x PE.
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