Is CALY halal?
Callaway Golf Company
Doubtful
No clear verdict is possible for Callaway Golf Company — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 14 October 2026
Exchange
NYSE
Price
13.81
Day
-1.22%
Market cap
$2.43B
Industry
Leisure
Sector
Consumer Cyclical
Manually identified reason
Automatic screening reads the industry label, not what's inside. This company's filings were checked by hand and a hidden prohibited activity was found:
Doubtful: retains a 40% stake in Topgolf — venues run full bars; equity-method, so the share is invisible in revenue
What the company does
Callaway Golf (formerly Topgolf Callaway Brands) makes golf equipment (Callaway, Odyssey) and apparel (TravisMathew; Jack Wolfskin sold), and keeps a 40% stake in Topgolf entertainment venues (with bars and restaurants). Its money comes from golf equipment and apparel sales.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Doubtful: retains a 40% stake in Topgolf — venues run full bars; equity-method, so the share is invisible in revenue
Interest-bearing debt / market cap
limit 30%
2.3%
Pass
Cash & investments / market cap
limit 30%
12.6%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $18.79
- Polen Capital Management$2.7M0.0%
Exited this quarter: Lee Ainslie
All superinvestor portfoliosHalal stocks in the same industry
The largest halal stocks in Leisure — for comparison.
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- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.