Topgolf Callaway Brands Corp.: Too Expensive To Take The Shot

Summary

  • Topgolf provides MODG with a long runway for growth through the addition of new venues and introducing new people to golf.
  • The success of MODG depends on the success of the golf game in general. More people playing more rounds of golf drives demand for MODG's products.
  • MODG is overvalued based on a comparative and discounted cash flow analysis.

Callaway Golf Weighs Takeover Bids

Tim Boyle

Background

Topgolf Callaway Brands Corp. (NYSE:MODG) is a well-known company in the golf industry. The company's products include golf clubs, golf balls, golf, and lifestyle apparel, and other accessories. You can find MODG's products in approximately 120 countries worldwide. The company sells its

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