Topgolf Callaway Brands Corp. (MODG) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 | Q4'20 |
|---|
| Cash from Operations | 228.4M | 126.9M | -85.2M | 43.3M | 187.3M | 224.7M | -73.3M | 137M | 249.5M | 130.3M | -152.1M | -69.7M | 82.7M | 137.2M | -185.3M | 31.45M | 146.34M | 179.1M | -78.62M | 105.69M |
| Operating CF Margin % | 24.45% | 11.43% | -7.8% | 4.68% | 18.49% | 19.41% | -6.41% | 15.27% | 23.98% | 11.05% | -13.03% | -8.19% | 8.37% | 12.3% | -17.81% | 4.42% | 17.09% | 19.6% | -12.07% | 28.21% |
| Operating CF Growth % | 21.94% | -43.52% | -16.23% | -68.39% | -24.93% | 72.45% | 51.81% | 296.56% | 201.69% | -5.03% | 17.92% | -321.6% | -43.49% | -23.39% | -135.7% | -70.24% | 2.43% | 144.14% | 16.08% | 239.35% |
| Net Income | -14.7M | 20.3M | 2.1M | -1.51B | -3.6M | 62.1M | 6.5M | -77.1M | 29.7M | 117.4M | 25M | -72.7M | 38.5M | 105.4M | 86.7M | -26.23M | -15.99M | 91.7M | 272.46M | -40.58M |
| Depreciation & Amortization | 63.1M | 67.8M | 69.1M | 69.1M | 68.1M | 65.8M | 68.8M | 64M | 61M | 86.6M | 84.8M | 27.6M | 73.8M | 48.8M | 42.6M | 47.9M | 63.38M | 43.2M | 31.06M | 10.84M |
| Stock-Based Compensation | 3.9M | 7M | 7M | 9.1M | 7.8M | 7M | 14.2M | 8.3M | 13.6M | 0 | 0 | -27M | 0 | 13.2M | 13.8M | 11.57M | 0 | 11M | 0 | 2.86M |
| Deferred Taxes | 0 | 11.7M | 5.3M | -24.9M | -18.4M | -10.3M | 0 | -34.5M | -7.2M | -43.5M | -3.7M | -18.5M | -1.2M | 1.3M | -12.6M | -78.57M | 58.91M | -18.3M | 46.4M | -12.39M |
| Other Non-Cash Items | -1.5M | 9.3M | 14.6M | 1.48B | 1.6M | 23.2M | -41.3M | 20.4M | 2.4M | 15.6M | 32.9M | 145.7M | 19M | 18.1M | 2.1M | 33.93M | 19.2M | 12.2M | -265.76M | 23.77M |
| Working Capital Changes | 177.6M | 10.8M | -183.3M | 19.1M | 131.8M | 76.9M | -121.5M | 155.9M | 150M | -45.8M | -291.1M | -124.8M | -47.4M | -49.6M | -317.9M | 42.84M | 20.84M | 39.3M | -162.78M | 121.18M |
| Change in Receivables | 119.2M | 44.8M | -210.3M | 99M | 111.4M | 24.2M | -227.1M | 110.2M | 86.5M | 50.6M | -289.5M | 98M | 88.3M | 27.3M | -311.4M | 142.69M | 65.74M | -6.4M | -186.74M | 106.29M |
| Change in Inventory | 35.9M | 47.8M | 35.2M | -113.1M | -3.8M | 49.8M | 79.3M | -42.6M | 93.8M | 81.9M | 30.1M | -206.5M | -140.1M | -71.8M | -24M | -150.19M | -53.76M | 1.1M | 25.41M | -19.01M |
| Change in Payables | -29.8M | -38.7M | -8.8M | 12.5M | -2.1M | 33.6M | 0 | 77.1M | -47M | -132.7M | 4.5M | 41.2M | 2.4M | 16.1M | 50.7M | 25.61M | 8.82M | 56.3M | 6.09M | 30.14M |
| Cash from Investing | -66.9M | 210.3M | -70M | -42.7M | -80.6M | -84.9M | -89.1M | -123M | -139.2M | -140.8M | -139.9M | -181.5M | -110.6M | -118.7M | -124.3M | -152.85M | -59.47M | -92M | 142.47M | -8.31M |
| Capital Expenditures | -66.3M | -75.2M | -69.9M | -68.4M | -79.6M | -85M | -65.4M | -93.3M | -126.2M | -141.4M | -121.9M | -181.5M | -111M | -118.7M | -124.3M | -123.38M | -78.06M | -92M | -28.82M | -8.35M |
| CapEx % of Revenue | 7.1% | 6.77% | 6.4% | 7.4% | 7.86% | 7.34% | 5.72% | 10.4% | 12.13% | 11.99% | 10.44% | 21.32% | 11.23% | 10.64% | 11.95% | 17.34% | 9.11% | 10.07% | 4.42% | 2.23% |
| Acquisitions | 0 | 285.4M | 0 | 4.3M | -2.1M | 23.4M | -23.3M | -29.7M | -400K | -300K | -18M | 0 | 0 | 0 | 0 | -29.5M | 0 | 0 | 171.29M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -600K | 700K | -100K | 23.3M | 1.1M | -23.3M | -400K | 0 | -12.6M | 900K | 0 | 0 | 0 | 0 | 0 | 20K | 0 | 0 | 0 | 41K |
| Cash from Financing | 21.6M | 18.7M | 25.1M | 10.8M | 17.9M | -59.6M | 7.3M | 44.4M | 33.7M | 24.3M | 273.4M | 260M | 43.5M | -83.3M | 205.1M | -37.79M | 15.06M | -70.9M | -30.35M | -12.51M |
| Debt Issued (Net) | 21.6M | 18.7M | 28.4M | 10.8M | 17.9M | -34.5M | 13.7M | 56.1M | 50.7M | 42.3M | 279M | 260.2M | 44M | -83.2M | 245M | -15.35M | 14.35M | -89M | -14.53M | -12.6M |
| Equity Issued (Net) | -100K | 0 | -1000K | 0 | -100K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -100K | -500K | -200K | -1000K | -1000K | 717K | 0 | -1000K | -70K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3K | 0 |
| Share Repurchases | -100K | 0 | -3.3M | 0 | -100K | -25.1M | -6.2M | -12M | -16.7M | -18.1M | -9.2M | -300K | -1M | -200K | -34.3M | -25.2M | -400K | 0 | -12.5M | -70K |
| Other Financing | 100K | 0 | 0 | 0 | 100K | 0 | -200K | 300K | -300K | 0 | 0 | -100K | 0 | 100K | -5.6M | 2.75M | 0 | 18.1M | -3.58M | 159K |
| Net Change in Cash | 182.1M | 366.5M | -128.7M | 3.1M | 130.1M | 77.9M | -159.5M | 63.2M | 138.5M | 11.2M | -18.2M | -1.5M | 21.9M | -67.3M | -107.5M | -156.17M | 92.26M | 20.4M | 31.17M | 79.46M |
| Free Cash Flow | 162.1M | 52.5M | -155.1M | -25M | 107.7M | 140.8M | -138.7M | 43.7M | 123.3M | -10.9M | -273.5M | -248.6M | -27.7M | 18.5M | -309.6M | -91.92M | 68.27M | 87.1M | -107.44M | 97.34M |
| FCF Margin % | 17.36% | 4.73% | -14.2% | -2.7% | 10.63% | 12.16% | -12.12% | 4.87% | 11.85% | -0.92% | -23.43% | -29.2% | -2.8% | 1.66% | -29.76% | -12.92% | 7.97% | 9.53% | -16.49% | 25.98% |
| FCF Growth % | 50.51% | -62.71% | -11.82% | -157.21% | -12.65% | 1391.74% | 49.29% | 117.58% | 545.13% | -158.92% | 11.66% | -170.44% | -140.57% | -78.76% | -188.17% | -194.44% | -50.19% | 33.55% | 2.89% | 632.68% |
| FCF per Share | 0.88 | 0.28 | -0.85 | -0.14 | 0.59 | 0.71 | -0.75 | 0.24 | 0.61 | -0.05 | -1.36 | -1.34 | -0.14 | 0.09 | -1.54 | -0.49 | 0.37 | 0.45 | -0.86 | 1.03 |
| FCF Conversion (FCF/Net Income) | -15.54x | 6.25x | -40.57x | -0.03x | -52.03x | 3.62x | -11.28x | -1.78x | 8.40x | 1.11x | -6.08x | 0.96x | 2.15x | 1.30x | -2.14x | -1.20x | -9.15x | 1.95x | -0.29x | -2.60x |
| Interest Paid | 50.4M | 51.6M | 0 | 0 | 50.4M | 0 | 42.9M | 51.9M | 46.1M | 0 | 0 | -52.4M | 0 | 30.9M | 21.5M | 20.48M | 0 | 26M | 0 | 10.65M |
| Taxes Paid | 3.8M | 7.7M | 0 | 0 | 4.7M | 0 | 0 | 1.5M | 2.8M | 0 | 0 | -17.8M | 0 | 8.9M | 8.9M | 1.36M | 0 | 3.5M | 0 | 126K |