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Consumer discretionary · Toys · Nasdaq

HASHasbro

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The 10-K against last year's

138 changes: 30 added, 28 removed, 80 reworded

10-K Feb 25, 2026 vs Feb 27, 2025
Risk FactorsRedline ↓
17.7%
of the text changed · 9,503 words now
38.1%
of the text changed · 8,064 words now
Legal ProceedingsRedline ↓
41.4%
of the text changed · 429 words now

10-K 0000046080-26-000011 (2026-02-25) vs 10-K 0000046080-25-000027 (2025-02-27) Not compared: Accounting Policies.

The redline

The paragraph that changed most in each section

Marked against last year's 10-K: cut words struck through, new words highlighted and underlined.

Risk Factors 226 words changed in this paragraph; it is 37% similar to last year's version.
The success A significant part of entertainment our strategy for our consumer products business and other properties our Wizards and digital gaming business is to license premium and well-recognized intellectual property for which the development of products. For example, we have a license, such as licenses we have with The Walt Disney Company for the MARVEL Marvel and STAR WARS properties, Star Wars properties for toys and games, and for our ability to successfully market Universes Beyond MAGIC: THE GATHERING sets we have licenses for key brands such as Final Fantasy, Spider-Man, Avatar, and sell related products, can significantly affect our revenues and profitability. Lord Of The Rings. In some cases, we may only obtain a license for certain aspects of an intellectual property or for certain territories, which means that some of our competitors may also use the same intellectual property for other categories or in different territories. If we produce a line of Sales may be adversely affected if the licensed products based on a movie do not resonate with new or television series, the success of the movie or series has a critical impact on the level of consumer interest in the associated products we offer. In addition, competition in our industry for access to entertainment properties can lessen our ability to secure, maintain, and renew popular licenses to entertainment products on beneficial terms, if at all, and to attract and retain the talented employees necessary to design, develop and market successful products based on these properties. If we are unable to realize the full benefit of an important license, existing consumers or if an important license consumers reduce purchases due to the perception a brand is not renewed or is otherwise terminated, our business results may be harmed. diluted given numerous options available.

Source: Item 1A, 10-K 0000046080-26-000011 vs Item 1A, 10-K 0000046080-25-000027

MD&A 171 words changed in this paragraph; it is 30% similar to last year's version.
Cash flows provided by operating activities were $893.2 million in 2025 as compared to $847.4 million in 2024 as compared to $725.6 million in 2023. 2024. The increase in net cash provided by operating activities during 2024 earnings after adjusting for non-cash items, was items increased to $1,213.5 million in 2025 compared to $787.9 million in 2024. The changes in operating assets and liabilities yielded a net outflow of $320.3 million compared to an inflow of $59.5 million primarily attributable to improved net earnings an increase in 2024 Accounts receivable in 2025 compared to 2023, a decrease in Accounts Receivable in 2024, which is primarily the result of an overall net revenue increase. The change in Accounts Receivable is coupled with a change in inventory purchases, which have increased period over period as the result of a strategic decision to build increased flexibility to better match product demand during higher seasonal periods, along with the impact of tariffs. Operating cash flow was also impacted by the timing and working capital benefits, primarily due to lower investments magnitude of tax payments, including the payment of the net deemed repatriation tax, in entertainment content 2025 when compared to 2023 as a result of the sale of the eOne Film and TV business, and reduced inventory due to management inventory initiatives. 2024.

Source: Item 7, 10-K 0000046080-26-000011 vs Item 7, 10-K 0000046080-25-000027

Legal Proceedings 128 words changed in this paragraph; it is 67% similar to last year's version.
On November 13, 2024, West Palm Beach Firefighters’ Pension Fund ("Lead Plaintiffs") filed a putative class action lawsuit in the U.S. District Court for the Southern District of New York alleging violations of Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act") and certain rules promulgated thereunder. West Palm Beach Firefighters’ Pension Fund v. Hasbro, Inc., Richard Stoddart, Christian Cocks, Deborah Thomas, Gina Goetter and Eric Nyman, Case No.1:24-cv-8633 (S.D.N.Y.). The plaintiff asserts claims On November 26, 2025, Lead Plaintiffs filed an amended complaint on behalf of all persons and entities that purchased the Company’s securities between February 7, 2022 September 16, 2021 and October 25, 2023 26, 2023, inclusive (the “Class Period”), and seeks compensatory damages, interest, fees, and costs. “Alleged Class Period”). The amended complaint alleges violations of Sections 10(b) and 20(a) of the Exchange Act. In the amended complaint, Lead Plaintiffs allege that members of the putative class suffered losses as a result of Defendants’ false or misleading statements and withholding of information regarding the Company’s inventory, growth and success of Magic: The Gathering (“Magic”) card sets, including quality and appropriateness thereof, statements attributing Magic’s growth to a consumer-driven “segmentation” strategy, during the Alleged Class Period. The court is in Defendants moved to dismiss the process of appointing a lead plaintiff. amended complaint on February 6, 2026. The Company intends to vigorously defend against these claims. Due to the early stages of this matter, the Company is unable to estimate a reasonably possible range of loss, if any, that may result from this matter.

Source: Item 3, 10-K 0000046080-26-000011 vs Item 3, 10-K 0000046080-25-000027

Every change, by type

Sentences and paragraphs added, removed or reworded

Sentences and paragraphs of HAS's Risk Factors and MD&A, 10-K 2026-02-25 against 10-K 2025-02-27. Each links to the text at sec.gov.

Quiet changes are sentences kept from last year with one to four words changed, at least one of them a hedge, a modal or a qualifier (may, could, will, not, significant, material…). A year or date rolling forward is not counted.

The full word listadverse, adversely, all, although, anticipate, anticipates, any, approximately, believe, believes, can, cannot, certain, could, expect, expects, generally, however, if, intend, intends, largely, likely, many, material, materially, may, might, most, must, never, no, not, possible, primarily, probable, should, significant, significantly, some, substantial, substantially, unlikely, will, would

No changes of this type found.

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