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Callaway Golf CoFRA:CLY +3.22%71 3-Year ROIIC % is 13.22 as of Dec. 2025, which is 65% above its 10-year median of 8.01. GuruFocus rates FRA:CLY with a GF Score™ of 71/100 and a GF Value™ of €11.07. The stock has 11 warning signs investors should review. Among 791 Travel & Leisure companies, Callaway Golf Co ranks better than 63.72% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Callaway Golf Co's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 13.22%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Callaway Golf Co's 3-Year ROIIC % or its related term are showing as below:
FRA:CLY's 3-Year ROIIC % is ranked better than 63.72% of 791
companies
in the Travel & Leisure industry
Industry Median: 3.99
vs FRA:CLY: 13.22
Callaway Golf Co (FRA:CLY) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Callaway Golf Co 3-Year ROIIC % Related Terms
Callaway Golf Co 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Callaway Golf Co's 3-Year ROIIC % 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.
FRA:CLY vs YETI, OSW, MAT: 3-Year ROIIC % Comparison
For the Leisure subindustry, Callaway Golf Co's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Callaway Golf Co's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Callaway Golf Co's 3-Year ROIIC % falls into.
Callaway Golf Co's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 48.4519313 (Dec. 2025) - 271.117 (Dec. 2022) )
/
( 5197.956 (Dec. 2025) - 7391.709 (Dec. 2022) )
=
-222.6650687
/
-2193.753
=
10.15%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Callaway Golf Co (FRA:CLY) has a 3-Year ROIIC % of 13.22 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Callaway Golf Co and its competitors. This is 65% above median its historical median of 8.01. Over the past decade, Callaway Golf Co's 3-Year ROIIC % has ranged from 1.16 to 207.71. According to the industry distribution chart, Callaway Golf Co ranks #287 out of 791 companies in the Travel & Leisure industry, placing it in the top 36.3%.
Is Callaway Golf Co's 3-Year ROIIC % too high?
Callaway Golf Co's current 3-Year ROIIC % of 13.22 is 65% above median its 10-year median of 8.01. Over the past 10 years, this metric has ranged from a low of 1.16 to a high of 207.71. The Travel & Leisure industry median 3-Year ROIIC % is 3.99. Callaway Golf Co's value of 13.22 is 231.3% above this industry median. Based on the distribution chart, Callaway Golf Co ranks #287 out of 791 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Callaway Golf Co has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Callaway Golf Co's 3-Year ROIIC % compare to YETI and OSW?
According to the Travel & Leisure industry distribution chart, Callaway Golf Co ranks #287 out of 791 companies for 3-Year ROIIC %. This puts Callaway Golf Co in the upper half of its industry. The industry median 3-Year ROIIC % is 3.99. Callaway Golf Co's value of 13.22 is 231.3% above this benchmark. Historically, Callaway Golf Co's own 3-Year ROIIC % has ranged from 1.16 to 207.71 over the past decade. While the company's 10-year median is 8.01 vs. the industry median of 3.99, Callaway Golf Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Travel & Leisure company?
The median 3-Year ROIIC % among Travel & Leisure companies is 3.99, based on 791 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Callaway Golf Co's current 3-Year ROIIC % of 13.22 is 231.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Callaway Golf Co and its competitors. For the Travel & Leisure industry, the median 3-Year ROIIC % is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Callaway Golf Co's current 3-Year ROIIC % is 13.22, which is 65% above median its own 10-year median of 8.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Callaway Golf Co stock overvalued right now?
Callaway Golf Co (FRA:CLY) has a current 3-Year ROIIC % of 13.22. The stock's GF Value™ is €11.07, compared to a current price of €16.68 — trading 50.7% above its estimated fair value. The current 3-Year ROIIC % is 13.22, which is 65% above median its 10-year median of 8.01 and 231.3% above the Travel & Leisure industry median of 3.99. Callaway Golf Co's overall GF Score™ is 71/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Callaway Golf Co (FRA:CLY), the current 3-Year ROIIC % is 13.22 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
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 €16.68 is trading 50.7% above its estimated GF Value™ of €11.07.
Key valuation signals for FRA:CLY:
3-Year ROIIC %: 13.22 (65% above median its 10-year median of 8.01)
GF Value™: €11.07 vs. price of €16.68 (50.7% above fair value)
Industry Position: 231.3% above the Travel & Leisure median (#287 of 791)
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 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
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