Hasbro vs Mattel
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The short version
- Hasbro is the larger business, with $5.4B of revenue in fiscal 2025 against $5.3B for Mattel.
- Hasbro grew revenue faster (13.1%, against −0.6%).
- Mattel kept more of each dollar of sales as operating profit (10.2% operating margin, against 0.2%).
- Hasbro turned more of its sales into free cash flow (15.5% FCF margin, against 9.0%).
- Mattel earned a higher return on the capital invested in it (13.5%, against 0.3%).
- Investors pay more for each dollar of Hasbro’s earnings: a P/E of 21.0x against 12.1x for Mattel.
| Latest fiscal year | HAS · FY25 | MAT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $16.8B | $4.7B |
| Revenue | $5.4B | $5.3B |
| Free cash flow | $830M | $483M |
| Net income | −$322M | $398M |
| Growth | ||
| Revenue growth | 13.1% | −0.6% |
| 5-year growth | −0.4% | 3.1% |
| Share count change | −0.1% | −6.3% |
| Profitability | ||
| Gross margin | 75.8% | 48.7% |
| Operating margin | 0.2% | 10.2% |
| Net margin | −6.0% | 7.4% |
| FCF margin | 15.5% | 9.0% |
| Return on capital | 0.3% | 13.5% |
| Return on equity | −36.8% | 17.7% |
| Balance sheet | ||
| Net debt | $2.5B | $1.1B |
| Net debt / EBITDA | 17.0x | 1.5x |
| Dividends and buybacks | $393M | $600M |
| Valuation & quality | ||
| P/E | 21.0x | 12.1x |
| Piotroski F-score | 5 | 5 |
Revenue
FY16
HAS $5.0B
MAT $5.5B
FY17
HAS $5.2B
MAT $4.9B
FY18
HAS $4.6B
MAT $4.5B
FY19
HAS $4.7B
MAT $4.5B
FY20
HAS $5.5B
MAT $4.6B
FY21
HAS $6.4B
MAT $5.5B
FY22
HAS $6.7B
MAT $5.4B
FY23
HAS $5.7B
MAT $5.4B
FY24
HAS $4.7B
MAT $5.4B
FY25
HAS $5.4B
MAT $5.3B
HAS
MAT
Operating margin
FY16
HAS 15.7%
MAT 9.5%
FY17
HAS 15.6%
MAT −6.9%
FY18
HAS 7.2%
MAT −5.2%
FY19
HAS 13.8%
MAT 0.8%
FY20
HAS 9.2%
MAT 8.2%
FY21
HAS 11.9%
MAT 13.4%
FY22
HAS 6.1%
MAT 12.4%
FY23
HAS −27.0%
MAT 10.3%
FY24
HAS 14.5%
MAT 12.9%
FY25
HAS 0.2%
MAT 10.2%
HAS
MAT
Free cash flow
FY16
HAS $662M
MAT $454M
FY17
HAS $590M
MAT −$157M
FY18
HAS $506M
MAT −$102M
FY19
HAS $520M
MAT $118M
FY20
HAS $851M
MAT $226M
FY21
HAS $685M
MAT $408M
FY22
HAS $245M
MAT $337M
FY23
HAS $590M
MAT $784M
FY24
HAS $760M
MAT $665M
FY25
HAS $830M
MAT $483M
HAS
MAT
Return on capital
FY16
HAS 27.9%
MAT 10.5%
FY17
HAS 20.2%
MAT −7.4%
FY18
HAS 12.3%
MAT −5.9%
FY19
HAS 24.1%
MAT 1.0%
FY20
HAS 8.2%
MAT 8.7%
FY21
HAS 9.3%
MAT 23.9%
FY22
HAS 5.1%
MAT 14.0%
FY23
HAS −23.6%
MAT 8.2%
FY24
HAS 13.9%
MAT 17.9%
FY25
HAS 0.3%
MAT 13.5%
HAS
MAT
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.