CALY vs YETI: Callaway Golf and YETI compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- YETI is the larger company, worth $3.5B, about 1.4 times Callaway Golf.
- YETI grew revenue faster over the last year (+8.5% vs +2.0%).
- YETI keeps more of each dollar of revenue as operating profit (12.2% vs 9.6%).
- YETI's price assumes faster free cash flow growth: about 3% a year, against -7% for Callaway Golf (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | CALY | YETI |
|---|---|---|
| Market cap | $2.4B | $3.5B |
| Share price | $13.67 | $39.79 |
| Revenue (last fiscal year) | $2.1B | $1.9B |
| Free cash flow (last fiscal year) | $302M | $212M |
| Revenue growth, last year | +2.0% | +8.5% |
| Revenue growth per year, last 5 fiscal years | -10.0% | +7.3% |
| Operating margin | 9.6% | 12.2% |
| Net margin | -12.4% | 9.2% |
| Return on equity | -12.2% | 29.3% |
| P/E (trailing) | — | 23.7x |
| Price / free cash flow | 8.10x | 16.6x |
| EV / EBITDA | 21.3x | 12.3x |
| FCF growth the price implies | -7.1% | 2.5% |
| Dividend yield | — | — |
| Debt / equity | 0.29x | 1.14x |
| Fundamental grade | C | B |
| Superinvestors holding it | 3 | 5 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Callaway Golf
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.1B | -$44M | 6.5% |
| 2022 | $4.0B | -$567M | 6.4% |
| 2023 | $2.1B | $315M | 9.1% |
| 2024 | $2.1B | $333M | 7.4% |
| 2025 | $2.1B | $302M | 6.2% |
YETI
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.4B | $90M | 19.5% |
| 2022 | $1.6B | $55M | 7.9% |
| 2023 | $1.7B | $235M | 13.6% |
| 2024 | $1.8B | $220M | 13.4% |
| 2025 | $1.9B | $212M | 11.4% |
Where the revenue comes from
Callaway Golf · by segments, 2025
Golf Equipment$1.4B67%
Apparel, Gear and Other$685M33%
YETI · by products, 2025
Drinkware$1.1B58%
Coolers & Equipment$749M40%
Other$34M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open CALY in InvestinglyQuestions
Which is bigger, Callaway Golf or YETI?
YETI (YETI), at $3.5B against $2.4B.
Which grows faster, CALY or YETI?
YETI: revenue grew +8.5% over the last year, against +2.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.