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HASHasbro

Consumer discretionary · Toys · Nasdaq

Hasbro, Inc. (“Hasbro”) is a leading game, intellectual property ("IP"), and toy company whose mission is to create joy and community through the magic of play. 10-K, Item 1

HAS quote by TradingView
Employees
4,520
Headquarters
Pawtucket, RI
Next results
around Feb 9, 2027
Compare with peers → Embed
All key numbers (37, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)6.71Sales (ttm)5.8BNet income (ttm)955.4MSales growth+13.1%EPS growth-184%Sales Q/Q+15.0%
Free cash flow1.2BGross margin65.6%Oper. margin22.9%Net margin16.3%FCF margin21.0%ROE101.8%
ROA14.9%R&D / sales7.2%Dividend2.80Debt/Eq3.74Curr. ratio1.40Cash850.7M
Op. cash flow (ttm)1.3BEBITDA146.6MEBITDA margin2.7%Net debt2.7BQuick ratio1.29Interest cover0.07
Stock pay / sales1.5%Shares out.139.9MShares Y/Y-0.1%Book / share6.71Cash / share6.08Sales / share41.80
Asset turnover0.91Inventory turns4.99Days sales out.72Sales 3Y CAGR-7.0%Sales 5Y CAGR-0.4%Employees4,520
Sales / employee1.3M

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth sped up to +13.1%-16.9% → +13.1% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin narrowed to 0.2%14.5% → 0.2% · Operating income / revenue · 10-K ↗
  • Net income turned to a loss$385.6M → −$322.4M · Net income attributable to the company · 10-K ↗
What management wrote about it → · Every company →

HAS against Consumer discretionary peers

Ten years, side by side → · All 47 →
GrowthProfitBalanceCleanInsiders
HASPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 47 companies, the better end on the right. Hover a dot for the company.

Sales growth
+13.1%8th of 47 · median +5.4%
Net margin
16.3%11th of 47 · median 10.8%
Return on equity
101.8%2nd of 34 · median 32.5%
Free cash flow margin
21.0%5th of 45 · median 9.4%
Debt / equity (less is better)
3.7426th of 28 · median 0.73
HAS and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
HAS Hasbro$5.8B +13.1%65.6%16.3%101.8%21.0%3.74
WSM Williams-Sonoma, Inc.$8.0B +1.2%47.2%14.7%55.1%16.8%-
GRMN Garmin$7.9B +15.1%61.1%25.6%21.1%18.6%-
WYNN Wynn Resorts$7.3B +0.1%-5.2%-7.1%-
DECK Deckers Brands$5.6B +9.8%58.9%19.0%45.7%18.9%-
DPZ Domino's$5.1B +5.0%40.0%12.0%-12.5%-

From $6.4B of sales to $428.7M of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $4.5BRevenue to Cost of revenue: $1.9BGross profit to Operating profit: $763.3MGross profit to Operating expenses: $3.7BOperating profit to Net profit: $428.7MOperating profit to Tax & other: $334.6MOperating expenses to R&D: $315.7MOperating expenses to Sales, admin & other: $3.4B Revenue: $6.4B Revenue$6.4B +17% Y/Y Gross profit: $4.5B · 70% margin Gross profit$4.5B70% margin Cost of revenue: $1.9B · 30% of revenue Cost of revenue$1.9B30% of revenue Operating profit: $763.3M · 12% margin Operating profit$763.3M12% margin +52% Y/Y Operating expenses: $3.7B · 58% of revenue Operating expenses$3.7B58% of revenue Net profit: $428.7M · 7% margin Net profit$428.7M7% margin +93% Y/Y Tax & other: $334.6M · 5% of revenue Tax & other$334.6M5% of revenue R&D: $315.7M · 5% of revenue R&D$315.7M5% of revenue Sales, admin & other: $3.4B · 53% of revenue Sales, admin & other$3.4B53% of revenue

Swipe sideways for the whole flow →

From $6.7B of sales to $203.5M of profit

FY2022, from the 10-K income statement
Revenue to Gross profit: $4.8BRevenue to Cost of revenue: $1.9BGross profit to Operating profit: $407.7MGross profit to Operating expenses: $4.3BOperating profit to Net profit: $203.5MOperating profit to Tax & other: $204.2MOperating expenses to R&D: $307.9MOperating expenses to Sales, admin & other: $4.0B Revenue: $6.7B Revenue$6.7B +4% Y/Y Gross profit: $4.8B · 71% margin Gross profit$4.8B71% margin Cost of revenue: $1.9B · 29% of revenue Cost of revenue$1.9B29% of revenue Operating profit: $407.7M · 6% margin Operating profit$407.7M6% margin −47% Y/Y Operating expenses: $4.3B · 65% of revenue Operating expenses$4.3B65% of revenue Net profit: $203.5M · 3% margin Net profit$203.5M3% margin −53% Y/Y Tax & other: $204.2M · 3% of revenue Tax & other$204.2M3% of revenue R&D: $307.9M · 5% of revenue R&D$307.9M5% of revenue Sales, admin & other: $4.0B · 61% of revenue Sales, admin & other$4.0B61% of revenue

Swipe sideways for the whole flow →

From $4.7B of sales to $385.6M of profit

FY2024, from the 10-K income statement
Revenue to Gross profit: $3.6BRevenue to Cost of revenue: $1.2BGross profit to Operating profit: $690.0MGross profit to Operating expenses: $2.9BOperating profit to Net profit: $385.6MOperating profit to Tax & other: $304.4MOperating expenses to R&D: $294.1MOperating expenses to Sales, admin & other: $2.6B Revenue: $4.7B Revenue$4.7B −17% Y/Y Gross profit: $3.6B · 75% margin Gross profit$3.6B75% margin Cost of revenue: $1.2B · 25% of revenue Cost of revenue$1.2B25% of revenue Operating profit: $690.0M · 15% margin Operating profit$690.0M15% margin Operating expenses: $2.9B · 61% of revenue Operating expenses$2.9B61% of revenue Net profit: $385.6M · 8% margin Net profit$385.6M8% margin Tax & other: $304.4M · 6% of revenue Tax & other$304.4M6% of revenue R&D: $294.1M · 6% of revenue R&D$294.1M6% of revenue Sales, admin & other: $2.6B · 54% of revenue Sales, admin & other$2.6B54% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2024
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 3
  • ✓
    Net margin above the peer median16.3% vs 10.8%
  • ✓
    Return on equity above 15%101.8%
  • !
    A profit in 8 of 10 years
Net margin, FY2016 to FY2025: 11.0% → -6.0%

Balance sheet

2 of 4
  • !
    Interest covered less than 5 timesOperating income is 0.1× interest expense
  • !
    Debt larger than equityDebt / equity 3.74 on the latest balance sheet (peer median 0.73)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.40
  • ✓
    Net debt under 3 years of free cash flow$2.7B net debt, 2.2 years
Debt / equity at each year end, FY2016 to FY2025: 0.74 → 5.77
What the debt is made of ↓

Cash and shareholders

2 of 3
  • ✓
    Free cash flow positive in every one of 10 years$829.9M last year
  • !
    Share count up over 5 years+1.9%
  • ✓
    Dividend per share up over 5 years$2.72 → $2.80
Free cash flow, FY2016 to FY2025: 662.4M → 829.9M

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Sep 27, 2026
Debt: $3.5B Debt$3.5B Long-term debt: $2.6B · 75% Long-term debt$2.6B · 75% Due within a year: $893.9M · 25% Due within a year$893.9M · 25%

The debt note's own lines, 2025-12-28

Line, as the company names itKindRateFixed or floatingAmount
3.90% Notes Due 2029Notes and bonds3.90%not stated$900.0M
6.05% Notes Due 2034Notes and bonds6.05%not stated$500.0M
6.35% Notes Due 2040Notes and bonds6.35%not stated$500.0M
3.55% Notes Due 2026Notes and bonds3.55%not stated$497.0M
3.50% Notes Due 2027Notes and bonds3.50%not stated$475.0M
5.10% Notes Due 2044Notes and bonds5.10%not stated$300.0M
6.60% Debentures Due 2028Notes and bonds6.60%not stated$109.9M
The Facility (Line Of Credit)––not stated$100.0M

From the debt note in the 10-K's XBRL (0000046080-26-000011), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 5.4B Net income -322.4M
FY2016 revenue 5.0B · Revenues, 0001193125-19-052025 FY2016 net income 551.4M · NetIncomeLoss, 0001193125-19-052025 5.0B FY2016 FY2017 revenue 5.2B · Revenues, 0000046080-20-000028 FY2017 net income 396.6M · NetIncomeLoss, 0000046080-20-000028 5.2B FY2017 FY2018 revenue 4.6B · Revenues, 0000046080-21-000035 FY2018 net income 220.4M · NetIncomeLoss, 0000046080-21-000035 4.6B FY2018 FY2019 revenue 4.7B · Revenues, 0000046080-22-000023 FY2019 net income 520.5M · NetIncomeLoss, 0000046080-22-000023 4.7B FY2019 FY2020 revenue 5.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000046080-23-000017 FY2020 net income 222.5M · NetIncomeLoss, 0000046080-23-000017 5.5B FY2020 FY2021 revenue 6.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000046080-24-000034 FY2021 net income 428.7M · NetIncomeLoss, 0000046080-24-000034 6.4B FY2021 FY2022 revenue 6.7B · Revenues, 0000046080-25-000027 FY2022 net income 203.5M · NetIncomeLoss, 0000046080-25-000027 6.7B FY2022 FY2023 revenue 5.7B · Revenues, 0000046080-26-000011 FY2023 net income -1.5B · NetIncomeLoss, 0000046080-26-000011 5.7B FY2023 FY2024 revenue 4.7B · Revenues, 0000046080-26-000011 FY2024 net income 385.6M · NetIncomeLoss, 0000046080-26-000011 4.7B FY2024 FY2025 revenue 5.4B · Revenues, 0000046080-26-000011 FY2025 net income -322.4M · NetIncomeLoss, 0000046080-26-000011 5.4B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

HAS's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue5.4B
FY2016: 5.0BFY2017: 5.2BFY2018: 4.6BFY2019: 4.7BFY2020: 5.5BFY2021: 6.4BFY2022: 6.7BFY2023: 5.7BFY2024: 4.7BFY2025: 5.4B FY2017FY2019FY2021FY2023FY2025
Net income-322.4M
FY2016: 551.4MFY2017: 396.6MFY2018: 220.4MFY2019: 520.5MFY2020: 222.5MFY2021: 428.7MFY2022: 203.5MFY2023: -1.5BFY2024: 385.6MFY2025: -322.4M FY2017FY2019FY2021FY2023FY2025
Free cash flow829.9M
FY2016: 662.4MFY2017: 589.5MFY2018: 505.6MFY2019: 519.5MFY2020: 850.5MFY2021: 685.2MFY2022: 244.7MFY2023: 590.1MFY2024: 760.2MFY2025: 829.9M FY2017FY2019FY2021FY2023FY2025
EPS (diluted)-2.30
FY2016: 4.34FY2017: 3.12FY2018: 1.74FY2019: 4.05FY2020: 1.62FY2021: 3.10FY2022: 1.46FY2023: -10.73FY2024: 2.75FY2025: -2.30 FY2017FY2019FY2021FY2023FY2025
Dividend per share2.80
FY2016: 2.04FY2017: 2.28FY2018: 2.52FY2019: 2.72FY2020: 2.72FY2021: 2.72FY2022: 2.80FY2023: 2.80FY2024: 2.10FY2025: 2.80 FY2017FY2019FY2021FY2023FY2025
Diluted shares140.2M
FY2016: 127.0MFY2017: 127.0MFY2018: 126.9MFY2019: 128.5MFY2020: 137.6MFY2021: 138.4MFY2022: 138.9MFY2023: 138.8MFY2024: 140.3MFY2025: 140.2M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 28, 2025
RevenueSharevs year before
Consumer Products 2.7B49.4% -4.9%
Wizards of the Coast and Digital Gaming 2.2B40.8% +44.7%
Entertainment 76.8M1.4% -4.4%

10-K 0000046080-26-000011, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 28, 2025
RevenueSharevs year before
Grow Brands 3.5B64.8% +24.4%
Optimize Brands 698.2M13.0% -4.6%
Reinvent Brands 524.0M9.8% -13.7%
Non-Hasbro Branded Film and TV 00.0% -

10-K 0000046080-26-000011, segment and revenue notes (XBRL).

Revenue by region

year to Dec 28, 2025
RevenueSharevs year before
United States 2.8B52.3% +7.9%
International 1.9B35.3% +23.4%

10-K 0000046080-26-000011, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue5.0B5.2B4.6B4.7B5.5B6.4B6.7B5.7B4.7B5.4B
Cost of revenue1.9B2.0B1.9B1.8B1.7B1.9B1.9B1.7B1.2B1.3B
R&D266.4M269.0M246.2M262.2M259.5M315.7M307.9M306.9M294.1M385.6M
SG&A1.1B1.1B1.3B1.0B1.3B1.4B1.7B1.5B1.2B1.2B
Operating income788.0M810.4M331.1M652.1M501.8M763.3M407.7M-1.5B690.0M11.1M
Interest expense97.4M98.3M90.8M101.9M201.1M179.7M171.0M186.3M171.2M163.4M
Pretax income692.5M786.1M270.4M594.3M322.1M581.9M261.5M-1.7B497.0M-102.0M
Income tax159.3M389.5M50.0M73.8M96.7M146.6M58.5M-221.3M102.6M216.2M
Net income551.4M396.6M220.4M520.5M222.5M428.7M203.5M-1.5B385.6M-322.4M
EPS (diluted)4.343.121.744.051.623.101.46-10.732.75-2.30
Diluted shares127.0M127.0M126.9M128.5M137.6M138.4M138.9M138.8M140.3M140.2M
Depreciation & amortization154.5M171.8M168.0M180.8M265.0M280.1M232.5M210.7M163.0M135.5M
EBITDA942.5M982.2M499.0M832.9M766.8M1.0B640.2M-1.3B853.0M146.6M
Operating margin15.7%15.6%7.2%13.8%9.2%11.9%6.1%-26.9%14.5%0.2%
Net margin11.0%7.6%4.8%11.0%4.1%6.7%3.1%-26.1%8.1%-6.0%
Revenue growth-+3.8%-12.1%+3.1%+15.8%+17.5%+3.8%-14.3%-16.9%+13.1%
EPS growth--28.1%-44.2%+133%-60.0%+91.4%-52.9%-835%--184%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash1.3B1.6B1.2B4.6B1.4B1.0B513.1M545.4M695.0M776.6M
Receivables1.3B1.4B1.2B1.4B1.4B1.5B1.1B1.0B919.8M1.1B
Inventory387.7M433.3M443.4M446.1M395.6M552.1M676.8M332.0M274.2M259.8M
Current assets3.2B3.6B3.1B6.7B3.8B3.7B3.0B2.3B2.2B2.6B
Property & equipment267.4M259.7M256.5M255.6M297.2M261.8M304.5M334.3M302.6M247.8M
Goodwill570.6M573.1M485.9M494.6M3.7B3.4B3.5B2.3B2.3B1.3B
Total assets5.1B5.3B5.3B8.9B10.8B10.0B9.3B6.5B6.3B5.6B
Accounts payable319.5M348.5M333.5M343.9M425.5M580.2M427.3M340.6M341.5M335.4M
Current liabilities1.6B1.3B1.3B1.3B2.4B2.5B2.2B2.1B1.4B1.9B
Total debt1.4B1.8B1.7B4.0B4.7B4.0B4.0B3.5B3.4B3.3B
Total liabilities3.2B3.5B3.5B5.9B7.9B7.0B6.4B5.5B5.2B5.0B
Shareholders' equity1.9B1.8B1.8B3.0B2.9B3.1B2.9B1.1B1.2B565.5M
Retained earnings4.1B4.3B4.2B4.4B4.2B4.3B4.1B2.2B2.3B1.6B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow817.3M724.4M646.0M653.1M976.3M817.9M372.9M725.6M847.4M893.2M
Capital spending154.9M134.9M140.4M133.6M125.8M132.7M128.2M135.5M87.2M63.3M
Free cash flow662.4M589.5M505.6M519.5M850.5M685.2M244.7M590.1M760.2M829.9M
Stock-based pay (added back)61.6M56.0M27.9M28.0M49.7M97.8M83.4M72.4M50.8M80.4M
Dividends paid248.9M277.0M309.3M336.6M372.7M374.5M385.3M388.0M389.9M392.5M
Buybacks150.1M151.3M250.1M61.4M00125.0M00-
Acquisitions12.4M0155.5M8.8M4.4B0146.3M00-
Debt raised0493.9M02.4B1.1B144.0M3.8M2.6M498.6M0
Debt repaid0350.0M00275.5M1.2B206.0M359.6M581.3M118.2M
Investing cash flow-138.4M-131.5M-286.5M-60.9M-4.5B242.0M-313.0M117.6M-203.7M-284.4M
Financing cash flow-375.5M-312.2M-737.1M2.8B405.9M-1.5B-553.3M-818.1M-497.5M-531.3M
Dividend per share2.042.282.522.722.722.722.802.802.102.80

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)61.6M56.0M27.9M28.0M49.7M97.8M83.4M72.4M50.8M80.4M
Stock-based pay / revenue1.2%1.1%0.6%0.6%0.9%1.5%1.3%1.3%1.1%1.5%
Operating lease cost------46.2M44.2M35.4M32.8M
Operating lease cash paid---37.7M50.9M53.4M52.4M48.6M40.0M37.9M
Right-of-use assets---126.7M191.8M159.3M118.3M126.7M119.0M105.6M
Operating lease liabilities---144.1M207.8M176.3M131.5M151.6M144.2M131.4M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on HAS in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/HAS/export.csv") into a cell.