Hasbro (HAS)

Consumer Discretionary · $16.7B market cap · SEC CIK 0000046080

Next reports on Feb 8, 2027, after the close, with analysts expecting $1.49 in earnings per share.

52-week range $74.78 to $124.00. 2% below its 52-week high and 63% above its low.

The case for HAS

• Generated $830M of free cash flow in FY2025, 15% of revenue.
• Earns 136% on shareholder equity, a figure flattered by a small equity base.
• Revenue growing 18.9% year over year.
• Earnings per share up 68.8%.
• Gross margin of 67% absorbs cost shocks.
• Moves less than the market (beta 0.37).

The case against

• Heavily leveraged. Debt is 3.8× equity.
• Operating profit covers its interest bill only 0.2 times.
• Revenue has shrunk 3.0% a year over five years.
• Value is weak (39/100): 17.5× earnings against a fair 14× for its growth, 3.2× sales, 5.0% free-cash yield.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Consumer Discretionary companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Its dividend figures disagree with each other (a 6.1% yield against about 2.4% implied by its payout ratio and P/E), so the dividend is not counted.
• Each factor except momentum is half fixed thresholds, half rank among the 48 Consumer Discretionary companies.

The financials

The financials, five years deep

Pulled from Hasbro's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Hasbro says it does

Overview 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. Through our franchise-first approach, we unlock value from both new and legacy IP, including MAGIC: THE GATHERING, MONOPOLY, HASBRO GAMES, PLAY-DOH, TRANSFORMERS, DUNGEONS & DRAGONS, NERF, and PEPPA PIG, as well as premier partner brands. Powered by our portfolio of iconic brands and a diversified network of partners and subsidiary studios, we bring fans together wherever they are, from tabletop to screen. For more than a decade, Hasbro has been consistently recognized for its corporate citizenship, including being named one of the…

Risk factors HAS lists in its 10-K

• Strategic Risks Related to Our Business
• Our business will suffer if we are not successful in executing our business strategy
• Our business will suffer if we are unable to develop, publish and commercialize digital games
• Third party licensees and partners of our brands may fail to honor their obligations to us or their actions may put us at risk
• Failure to achieve our anticipated cost-savings may impact our ability to operate efficiently and profitably
• If we are unable to compete effectively with existing or new competitors, our revenues, market share and profitability could decline
• We may not realize the anticipated benefits of acquisitions, dispositions or investments in joint ventures, or those benefits may be delayed or reduced in their realization
• Operational Risks Related to our Business
• An inability to develop, introduce and ship planned products, product lines and new brands in a timely and cost-effective manner could result in excess inventory, a shortage of products or otherwise damage our business
• If we are unable to navigate through global supply chain challenges, our business may be harmed
• If we are unable to expand our direct-to-consumer relationships, our business may be harmed
• The concentration of our customer base means that economic difficulties or changes in the purchasing or promotional policies or patterns of our major customers could have a significant impact on us
• Our substantial business, sales and manufacturing operations outside the U.S. subject us to risks associated with international operations
• Our reliance on third-party manufacturers presents risks to our business
• Our dependence on third-party relationships with studios, content producers and distribution channels to develop and distribute digital games and entertainment content is critical to our business
• If our vendors or third-party outsourcing partners fail to perform, our business may be harmed
• Our success is dependent on the efforts and dedication of our officers and other employees
• Our business may be harmed if we are unable to protect our critical intellectual property rights
• Failure to successfully operate our information systems and implement new technology effectively could disrupt our business or reduce our sales or profitability
• If our electronic data is compromised our business could be significantly harmed
• Global and Economic Risks Relating to our Business
• Economic conditions could impact discretionary consumer spending and harm our business and financial performance
• Public health crises may disrupt our business
• Financial Risks Relating to our Business
• Our quarterly and annual operating results may fluctuate due to seasonality in our business
• We have had and may in the future have significant impairment charges that adversely affect our net earnings
• Changes in foreign currency exchange rates can significantly impact our reported financial performance
• Our indebtedness may limit our availability of cash, cause us to divert cash to fund debt service payments or make it more difficult to take certain other actions
• If we were unable to obtain or service our other external financings, or if the restrictions imposed by such financing were too burdensome, our business would be harmed
• Changes in, or differing interpretations of, income tax laws and rules, and changes in our geographic operating results, may impact our effective tax rate
• Governmental and Legal Risks Relating to our Business
• We are involved in litigation, arbitration or regulatory matters where the outcome is uncertain and which could entail significant expense

Filings

Other Consumer Discretionary companies