Callaway Golf Co (FRA:CLY) Cyclically Adjusted PS Ratio: (As of Aug. 05, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:CLY Callaway Golf Co FRA:CLY
71 GF Score
Price €17.02
GF Value €11.59
Valuation Significantly Overvalued
! 11 Warning Signs
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What is Callaway Golf Co Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Callaway Golf Co  (FRA:CLY) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Callaway Golf Co Cyclically Adjusted PS Ratio Related Terms


Callaway Golf Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Callaway Golf Co's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Callaway Golf Co Cyclically Adjusted PS Ratio Chart

Callaway Golf Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.93 1.26 0.90 0.49 0.72

Callaway Golf Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.48 0.56 0.72 0.85 0.00

FRA:CLY vs YETI, OSW, PTON: Cyclically Adjusted PS Ratio Comparison

For the Leisure subindustry, Callaway Golf Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Callaway Golf Co Cyclically Adjusted PS Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Callaway Golf Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Callaway Golf Co's Cyclically Adjusted PS Ratio falls into.


FRA:CLY
71GF Score
Callaway Golf Co FRA:CLY
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Callaway Golf Co Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Callaway Golf Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Callaway Golf Co's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=2.795/333.9520*333.9520
=2.795

Current CPI (Jun. 2026) = 333.9520.

Callaway Golf Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.779 241.428 2.461
201612 1.611 241.432 2.228
201703 3.010 243.801 4.123
201706 2.818 244.955 3.842
201709 2.110 246.819 2.855
201712 1.665 246.524 2.255
201803 3.370 249.554 4.510
201806 3.500 251.989 4.638
201809 2.313 252.439 3.060
201812 1.631 251.233 2.168
201903 4.738 254.202 6.224
201906 4.123 256.143 5.375
201909 4.019 256.759 5.227
201912 2.908 256.974 3.779
202003 4.183 258.115 5.412
202006 2.801 257.797 3.628
202009 4.179 260.280 5.362
202012 3.270 260.474 4.192
202103 4.393 264.877 5.539
202106 3.903 271.696 4.797
202109 3.914 274.310 4.765
202112 3.247 278.802 3.889
202203 4.704 287.504 5.464
202206 5.261 296.311 5.929
202209 4.947 296.808 5.566
202212 3.974 296.797 4.471
202303 5.411 301.836 5.987
202306 5.409 305.109 5.920
202309 4.846 307.789 5.258
202312 -5.740 306.746 -6.249
202403 5.709 312.332 6.104
202406 5.389 314.175 5.728
202409 4.965 315.301 5.259
202412 -5.928 315.605 -6.273
202503 2.938 319.799 3.068
202506 2.605 322.561 2.697
202509 4.327 324.800 4.449
202512 -4.912 324.054 -5.062
202603 2.934 330.213 2.967
202606 2.795 333.952 2.795

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Callaway Golf Co (FRA:CLY) Overvalued in 2026?

Based on GuruFocus' analysis, Callaway Golf Co stock appears to be overvalued. The current stock price of €17.02 is trading 46.9% above its estimated GF Value™ of €11.59. GuruFocus considers Callaway Golf Co to be Significantly Overvalued.

Key valuation signals for FRA:CLY:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €11.59 vs. price of €17.02 (46.9% above fair value)
  • GF Score™: 71/100 with 11 warning signs

No single metric tells the full story. See the FRA:CLY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Callaway Golf Co Business Description

Other Exchanges CALY:USACLY:Germany
Address 2180 Rutherford Road, Carlsbad, CA, USA, 92008
Callaway Golf Co is a golf equipment, gear and apparel company with a portfolio of world-wide brands, including Callaway Golf, Odyssey, TravisMathew, and OGIO. Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories-setting the standard for performance in the game of golf. The company has two operating and reportable business segments: Golf Equipment and Apparel, Gear and Other. Geographically, the company operates in United States, Europe, Asia, and Rest of World, of which it derives maximum revenue from United States.
71GF Score

Get the complete analysis for FRA:CLY

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€17.02
Price
€11.59
GF Value