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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. With over 100 years of expertise, we deliver play experiences to kids, families, and fans around the world, through physical and digital games, video games, toys, licensed consumer products, location-based entertainment, film, TV and more.
Operating margin is thin at 0.21%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 13.1%, still solid. Margins contracted 14.3pp, which offsets some of the top-line progress.
ROIC dropped from 12.48% to 0.20%, capital efficiency is deteriorating. Operating margin contracted 14.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$5.47B
▲ +13.1% YoY
Net Income (TTM)
-$223M
▼ -183.6% YoY
Op. Margin
2.02%
▼ -14.3pp YoY
ROIC
2.20%
▼ -12.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.02B
▲ +9.2% YoY
Op. Cash Flow (TTM)
$1.09B
▲ +5.4% YoY
Net Debt
$2.52B
Cash & Equiv.
$1.36B
5Y CAGR: -0.4%
5Y CAGR: -0.5%
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