Callaway Golf (CALY) FY2017 results: revenue $1.0 billion, up 20.4% on the year
Callaway Golf Co. (CALY) reported revenue of $1.0 billion for fiscal 2017, the year ended 31 December 2017, up 20.4% on the year before. Net income was $41 million, down 78.5%, and diluted earnings per share $0.42. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$1.0 billion
+20.4% on the year
FY2010FY2017
Operating margin
7.5%
5.1% a year earlier
FY2010FY2017
Net income
$41 million
-78.5% on the year
FY2010FY2017
Diluted EPS
$0.42
-78.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
1,049
871
844
+20.4%
Cost of revenue
568
486
486
+16.9%
Gross profit
480
385
358
+24.8%
Gross margin
45.8%
44.2%
42.4%
Research and development
36.6
33.3
33.2
+9.8%
Operating income
78.8
44.2
26.9
+78.5%
Operating margin
7.5%
5.1%
3.2%
Interest expense
4.4
2.4
8.7
+84.3%
Pre-tax income
68.1
58.4
20.1
+16.5%
Income tax
26.4
-133
5.5
Effective tax rate
38.8%
-227.0%
27.4%
Net income
40.8
190
14.6
-78.5%
Net margin
3.9%
21.8%
1.7%
Diluted EPS
$0.42
$1.98
$0.17
-78.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
118
77.7
30.6
+51.5%
Capital expenditure
26.2
16.2
14.4
+62.2%
Free cash flow
91.5
61.6
16.2
+48.6%
Free cash flow margin
8.7%
7.1%
1.9%
Cash from investing
-231
9.0
-18.4
Cash from financing
69.4
-9.3
0.9
Depreciation and amortisation
17.6
16.6
17.4
+6.1%
Share-based compensation
12.6
9.0
7.5
+41.1%
Buybacks
16.6
5.1
2.0
+223.0%
Dividends paid
3.8
3.8
3.4
+0.2%
Dividend per share
$0.04
$0.04
$0.04
0.0%
Diluted shares, weighted
97m
96m
85m
+0.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
650
599
413
+8.5%
Non-controlling interest
9.7
9.7
0.0
+0.5%
Debt
99.6
12.0
15.0
+732.1%
Other liabilities
232
181
203
+28.5%
Total liabilities and equity
991
801
631
+23.7%
Fixed assets
70.2
54.5
55.8
+28.9%
Goodwill
56.4
25.6
26.5
+120.5%
Intangible assets
226
88.7
88.8
+154.4%
Cash and equivalents
85.7
126
49.8
-32.0%
Receivables
94.7
128
116
-25.9%
Inventory
262
189
209
+38.6%
Other assets
196
189
85.8
+3.5%
Total assets
991
801
631
+23.7%
10-K for the year ended 31 December 2017, filed 1 March 2019: the filing.