Mattel
MAT · Leisure Products
$16.41
3.1%Thor Industries
THO · Leisure Products
$70.10
0.9%The short version
- Thor Industries is the larger business, with $9.6B of revenue in fiscal 2026 against $5.3B for Mattel, about 1.8 times as much.
- Thor Industries grew revenue faster (0.3%, against −0.6%).
- Mattel turned more of its sales into free cash flow (9.0% FCF margin, against 1.8% FCF margin).
- Mattel earned a higher return on the capital invested in it (13.5%, against 4.4%).
| Latest fiscal year | MAT · FY25 | THO · FY26 |
|---|---|---|
| Size | ||
| Market cap | $4.7B | $3.7B |
| Revenue | $5.3B | $9.6B |
| Free cash flow | $483M | $169M |
| Net income | $398M | $178M |
| Growth | ||
| Revenue growth | −0.6% | 0.3% |
| 5-year growth | 3.1% | −4.9% |
| Share count change | −6.3% | −1.6% |
| Profitability | ||
| Gross margin | 48.7% | 12.6% |
| Operating margin | 10.2% | — |
| Net margin | 7.4% | 1.9% |
| FCF margin | 9.0% | 1.8% |
| Return on capital | 13.5% | 4.4% |
| Return on equity | 17.7% | 4.2% |
| Balance sheet | ||
| Net debt | $1.1B | $448M |
| Net debt / EBITDA | 1.5x | 0.8x |
| Dividends and buybacks | $600M | $224M |
| Valuation & quality | ||
| P/E | 12.1x | — |
| Piotroski F-score | 5 | 6 |
FY17
MAT $4.9B
THO $7.2B
FY18
MAT $4.5B
THO $8.3B
FY19
MAT $4.5B
THO $7.9B
FY20
MAT $4.6B
THO $8.2B
FY21
MAT $5.5B
THO $12.3B
FY22
MAT $5.4B
THO $16.3B
FY23
MAT $5.4B
THO $11.1B
FY24
MAT $5.4B
THO $10.0B
FY25
MAT $5.3B
THO $9.6B
FY26
MAT —
THO $9.6B
MAT
THO
FY17
MAT −6.9%
THO —
FY18
MAT −5.2%
THO —
FY19
MAT 0.8%
THO —
FY20
MAT 8.2%
THO —
FY21
MAT 13.4%
THO —
FY22
MAT 12.4%
THO —
FY23
MAT 10.3%
THO —
FY24
MAT 12.9%
THO —
FY25
MAT 10.2%
THO —
FY26
MAT —
THO —
MAT
THO
FY17
MAT −$157M
THO $304M
FY18
MAT −$102M
THO $328M
FY19
MAT $118M
THO $381M
FY20
MAT $226M
THO $435M
FY21
MAT $408M
THO $395M
FY22
MAT $337M
THO $750M
FY23
MAT $784M
THO $773M
FY24
MAT $665M
THO $406M
FY25
MAT $483M
THO $456M
FY26
MAT —
THO $169M
MAT
THO
FY17
MAT −7.4%
THO 26.1%
FY18
MAT −5.9%
THO 27.4%
FY19
MAT 1.0%
THO 6.9%
FY20
MAT 8.7%
THO 8.7%
FY21
MAT 23.9%
THO 19.2%
FY22
MAT 14.0%
THO 26.2%
FY23
MAT 8.2%
THO 9.0%
FY24
MAT 17.9%
THO 7.1%
FY25
MAT 13.5%
THO 6.5%
FY26
MAT —
THO 4.4%
MAT
THO
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.