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Throughout this report "Mattel" refers to Mattel, Inc. and/or one or more of its subsidiaries. Mattel is a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world.
10.22% operating margin is respectable but not wide. ROIC at 9.26%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 0.6% YoY. Margins deteriorated 2.7pp alongside, both lines moving the wrong way.
Free cash flow declined 27% versus the prior year, cash generation momentum has weakened. ROIC dropped from 12.05% to 9.26%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$5.38B
▼ -0.6% YoY
Net Income (TTM)
$499M
▼ -26.6% YoY
Op. Margin
9.23%
▼ -2.7pp YoY
ROIC
8.39%
▼ -2.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$411M
▼ -27.5% YoY
Op. Cash Flow (TTM)
$545M
▼ -25.9% YoY
Net Debt
$1.81B
Cash & Equiv.
$866M
5Y CAGR: +3.1%
5Y CAGR: +16.4%
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