Revenue growth has rebounded to 12.7% year-over-year in 2026Q1, supported by a structural gross margin expansion to 68.2% from the 45.2% trough observed in 2023Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 4.81B | 4.7B | 4.14B | 5B | 5.86B | 6.42B | 5.47B | 4.72B | 4.58B | 5.21B | 5.02B | 4.45B | 4.28B | 4.08B | 4.09B | 4.29B | 4B | 4.07B | 4.02B | 3.84B | 3.15B | 3.09B | 3B | 3.14B | 2.82B | 2.86B | 3.79B | 4.23B | 3.3B | 3.19B | 3B |
| Revenue Growth % | 12.87% | 13.68% | -17.34% | -14.57% | -8.78% | 17.47% | 15.79% | 3.07% | -12.1% | 3.78% | 12.87% | 3.98% | 4.78% | -0.17% | -4.59% | 7.08% | -1.62% | 1.15% | 4.79% | 21.77% | 2.07% | 3.01% | -4.5% | 11.45% | -1.4% | -24.58% | -10.52% | 28.08% | 3.63% | 6.2% | 5.05% |
| Cost of Goods Sold | 1.45B | 1.4B | 1.46B | 2.13B | 2.4B | 2.55B | 2.29B | 2.22B | 2.2B | 2.44B | 2.31B | 2.06B | 2B | 2.01B | 1.97B | 2.18B | 1.94B | 2.01B | 1.69B | 1.58B | 1.3B | 1.29B | 1.25B | 1.29B | 1.1B | 1.22B | 1.67B | 1.59B | 1.27B | 1.25B | 1.23B |
| COGS % of Revenue | - | 29.74% | 35.39% | 42.66% | 41.06% | 39.68% | 41.88% | 47.08% | 48.09% | 46.82% | 46.12% | 46.23% | 46.85% | 49.28% | 48.28% | 50.76% | 48.44% | 49.34% | 42.09% | 41.08% | 41.37% | 41.66% | 41.76% | 41.04% | 39.03% | 42.83% | 44.2% | 37.67% | 38.41% | 39.08% | 40.99% |
| Gross Profit | 3.36B | 3.3B | 2.67B | 2.87B | 3.45B | 3.87B | 3.18B | 2.5B | 2.38B | 2.77B | 2.7B | 2.39B | 2.27B | 2.07B | 2.11B | 2.11B | 2.06B | 2.06B | 2.33B | 2.26B | 1.85B | 1.8B | 1.75B | 1.85B | 1.72B | 1.63B | 2.11B | 2.64B | 2.04B | 1.94B | 1.77B |
| Gross Margin % | 69.79% | 70.26% | 64.61% | 57.34% | 58.94% | 60.32% | 58.12% | 52.92% | 51.91% | 53.18% | 53.88% | 53.77% | 53.15% | 50.72% | 51.72% | 49.24% | 51.56% | 50.66% | 57.91% | 58.92% | 58.63% | 58.34% | 58.24% | 58.96% | 60.97% | 57.17% | 55.8% | 62.33% | 61.59% | 60.92% | 59.01% |
| Gross Profit Growth % | - | 23.64% | -6.87% | -16.89% | -10.86% | 21.91% | 27.17% | 5.07% | -14.2% | 2.43% | 13.11% | 5.18% | 9.81% | -2.11% | 0.23% | 2.26% | 0.12% | -11.5% | 3% | 22.37% | 2.57% | 3.18% | -5.67% | 7.78% | 5.16% | -22.73% | -19.89% | 29.6% | 4.79% | 9.63% | 3.46% |
| Operating Expenses | 2.2B | 2.25B | 1.98B | 4.41B | 3.04B | 3.11B | 2.67B | 1.85B | 2.05B | 1.96B | 1.92B | 1.7B | 1.64B | 1.6B | 1.56B | 1.52B | 1.48B | 1.47B | 1.83B | 1.74B | 1.47B | 1.49B | 1.45B | 1.51B | 1.5B | 1.42B | 2.22B | 2.25B | 1.69B | 1.58B | 1.44B |
| OpEx % of Revenue | - | 47.76% | 47.92% | 88.1% | 51.98% | 48.43% | 48.94% | 39.1% | 44.68% | 37.63% | 38.18% | 38.21% | 38.3% | 39.27% | 38.23% | 35.38% | 36.87% | 36.19% | 45.62% | 45.38% | 46.68% | 48.28% | 48.47% | 47.98% | 53.18% | 49.77% | 58.55% | 53.07% | 51.16% | 49.62% | 47.94% |
| Selling, General & Admin | 581M | 316.9M | 1.53B | 1.84B | 2.05B | 1.94B | 1.66B | 1.45B | 1.73B | 1.63B | 1.58B | 1.37B | 1.32B | 1.27B | 1.27B | 1.24B | 1.2B | 1.21B | 1.56B | 1.19B | 1.05B | 990.93M | 1B | 1.29B | 1.25B | 1.18B | 1.74B | 1.26B | 1.1B | 1.03B | 1.3B |
| SG&A % of Revenue | - | 6.74% | 37.06% | 36.75% | 35.06% | 30.21% | 30.46% | 30.73% | 37.72% | 31.22% | 31.47% | 30.81% | 30.76% | 31.11% | 31.05% | 28.84% | 30.03% | 29.65% | 38.91% | 31.01% | 33.36% | 32.09% | 33.43% | 41% | 44.37% | 41.17% | 46.03% | 29.7% | 33.19% | 32.26% | 43.34% |
| Research & Development | 383.1M | 385.6M | 294.1M | 306.9M | 307.9M | 315.7M | 259.5M | 262.2M | 246.16M | 269.02M | 266.38M | 242.94M | 222.56M | 207.59M | 201.2M | 197.64M | 201.36M | 181.19M | 191.42M | 167.19M | 171.36M | 150.59M | 157.16M | 143.18M | 153.78M | 125.63M | 208.49M | 711.8M | 424.7M | 386.9M | 0 |
| R&D % of Revenue | - | 8.2% | 7.11% | 6.13% | 5.26% | 4.92% | 4.75% | 5.55% | 5.38% | 5.16% | 5.31% | 5.46% | 5.2% | 5.09% | 4.92% | 4.61% | 5.03% | 4.45% | 4.76% | 4.36% | 5.44% | 4.88% | 5.24% | 4.56% | 5.46% | 4.4% | 5.5% | 16.82% | 12.85% | 12.13% | - |
| Other Operating Expenses | 4M | 1.54B | 155M | 2.26B | 682.9M | 854.2M | 750.4M | 132.9M | 72.61M | 64.62M | 70.69M | 86.17M | 99.79M | 125.88M | 92.37M | 82.44M | 72.47M | 85.03M | 78.27M | 384.52M | 248.66M | 349.32M | 293.75M | 76.05M | 94.58M | 119.86M | 265.68M | 277.3M | 169.2M | 166.6M | 138.3M |
| Operating Income | 1.16B | 1.06B | 690M | -1.54B | 407.7M | 763.3M | 501.8M | 652.1M | 331.05M | 810.36M | 788.05M | 691.93M | 635.38M | 467.09M | 551.78M | 593.98M | 587.86M | 588.6M | 494.3M | 519.35M | 376.36M | 310.52M | 293.01M | 344.62M | 219.29M | 211.33M | -104.28M | 391.9M | 344.9M | 360.2M | 332.3M |
| Operating Margin % | 24.04% | 22.5% | 16.68% | -30.76% | 6.96% | 11.89% | 9.18% | 13.82% | 7.23% | 15.55% | 15.7% | 15.56% | 14.85% | 11.44% | 13.49% | 13.86% | 14.69% | 14.47% | 12.29% | 13.53% | 11.94% | 10.06% | 9.78% | 10.98% | 7.79% | 7.4% | -2.75% | 9.26% | 10.44% | 11.3% | 11.07% |
| Operating Income Growth % | - | 53.33% | 144.84% | -477.43% | -46.59% | 52.11% | -23.05% | 96.98% | -59.15% | 2.83% | 13.89% | 8.9% | 36.03% | -15.35% | -7.1% | 1.04% | -0.13% | 19.08% | -4.82% | 37.99% | 21.2% | 5.98% | -14.97% | 57.15% | 3.77% | 302.66% | -126.61% | 13.63% | -4.25% | 8.4% | 9.09% |
| EBITDA | 1.27B | 1.23B | 902.3M | -879.2M | 1.2B | 1.67B | 1.15B | 918.5M | 542.92M | 1.02B | 978.45M | 889.71M | 840.43M | 695.77M | 743.87M | 790.25M | 756.26M | 769.56M | 660.43M | 675.87M | 523.07M | 490.65M | 439.19M | 508.74M | 403.13M | 437.23M | 159.94M | 669.2M | 514.1M | 526.8M | 470.6M |
| EBITDA Margin % | 26.41% | 26.15% | 21.82% | -17.57% | 20.42% | 26.04% | 21.11% | 19.46% | 11.86% | 19.54% | 19.49% | 20% | 19.65% | 17.04% | 18.19% | 18.44% | 18.9% | 18.92% | 16.42% | 17.61% | 16.6% | 15.89% | 14.65% | 16.21% | 14.31% | 15.31% | 4.22% | 15.81% | 15.56% | 16.52% | 15.67% |
| EBITDA Growth % | 33.58% | 36.24% | 202.63% | -173.52% | -28.48% | 44.91% | 25.62% | 69.18% | -46.67% | 4.04% | 9.97% | 5.86% | 20.79% | -6.47% | -5.87% | 4.49% | -1.73% | 16.52% | -2.28% | 29.21% | 6.61% | 11.72% | -13.67% | 26.2% | -7.8% | 173.36% | -76.1% | 30.17% | -2.41% | 11.94% | 8.31% |
| D&A (Non-Cash Add-back) | 114.1M | 171.3M | 212.3M | 659.6M | 788.1M | 908.7M | 652M | 266.4M | 211.86M | 207.63M | 190.4M | 197.78M | 205.05M | 228.68M | 192.09M | 196.27M | 168.4M | 180.96M | 166.14M | 156.52M | 146.71M | 180.13M | 146.18M | 164.12M | 183.84M | 225.9M | 264.22M | 277.3M | 169.2M | 166.6M | 138.3M |
| EBIT | 169.1M | 61.4M | 668.2M | -1.52B | 432.5M | 761.6M | 523.2M | 696.2M | 361.23M | 884.42M | 789.89M | 701.04M | 633.09M | 457.41M | 544.54M | 575.41M | 589.83M | 591.3M | 488.2M | 497M | 376.36M | 310.52M | 293.01M | 344.62M | 219.29M | 209.53M | -40.33M | 391.9M | 344.9M | 360.2M | 332.3M |
| Net Interest Income | -133.8M | -134.8M | -123.9M | -163.3M | -159.2M | -174.3M | -193.7M | -71.8M | -68.47M | -76.11M | -88.04M | -93.98M | -89.34M | -100.66M | -84.81M | -82.19M | -76.46M | -58.74M | -29.49M | -4.64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 29.8M | 28.6M | 47.3M | 23M | 11.8M | 5.4M | 7.4M | 30.1M | 22.36M | 22.16M | 9.37M | 3.15M | 3.76M | 4.92M | 6.33M | 6.83M | 5.65M | 2.86M | 17.65M | 29.97M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 163.6M | 163.4M | 171.2M | 186.3M | 171M | 179.7M | 201.1M | 101.9M | 90.83M | 98.27M | 97.41M | 97.12M | 93.1M | 105.58M | 91.14M | 89.02M | 82.11M | 61.6M | 47.14M | 34.62M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -1.15B | -1.16B | -193M | -170.3M | -146.2M | -181.4M | -179.7M | -57.8M | -60.65M | -24.21M | -95.56M | -88.02M | -95.39M | -115.27M | -98.38M | -107.59M | -80.14M | -58.9M | -53.24M | -56.97M | -34.89M | 392K | -32.92M | -100.55M | -115.2M | -115.13M | -121.71M | -118M | -41.4M | -155.7M | -25.4M |
| Pretax Income | 5.5M | -102M | 497M | -1.71B | 261.5M | 581.9M | 322.1M | 594.3M | 270.4M | 786.15M | 692.49M | 603.91M | 539.99M | 351.82M | 453.4M | 486.39M | 507.72M | 529.7M | 441.06M | 462.38M | 341.47M | 310.91M | 260.09M | 244.06M | 104.09M | 96.2M | -225.99M | 273.9M | 303.5M | 204.5M | 306.9M |
| Pretax Margin % | 0.11% | -2.17% | 12.02% | -34.16% | 4.46% | 9.06% | 5.89% | 12.59% | 5.9% | 15.09% | 13.8% | 13.58% | 12.62% | 8.62% | 11.09% | 11.35% | 12.69% | 13.02% | 10.97% | 12.05% | 10.84% | 10.07% | 8.68% | 7.78% | 3.7% | 3.37% | -5.97% | 6.47% | 9.18% | 6.41% | 10.22% |
| Income Tax | 223.7M | 216.2M | 102.6M | -221.3M | 58.5M | 146.6M | 96.7M | 73.8M | 49.97M | 389.54M | 159.34M | 157.04M | 126.68M | 67.89M | 117.4M | 101.03M | 109.97M | 154.77M | 134.29M | 129.38M | 111.42M | 98.84M | 64.11M | 69.05M | 29.03M | 35.4M | -81.36M | 84.9M | 97.1M | 69.5M | 107M |
| Effective Tax Rate % | 4067.27% | -211.96% | 20.64% | 12.95% | 22.37% | 25.19% | 30.02% | 12.42% | 18.48% | 49.55% | 23.01% | 26% | 23.46% | 19.3% | 25.89% | 20.77% | 21.66% | 29.22% | 30.45% | 27.98% | 32.63% | 31.79% | 24.65% | 28.29% | 27.89% | 36.8% | 36% | 31% | 31.99% | 33.99% | 34.86% |
| Net Income | -221.5M | -322.4M | 385.6M | -1.49B | 203.5M | 428.7M | 222.5M | 520.5M | 220.43M | 396.61M | 551.38M | 451.84M | 415.93M | 286.2M | 336M | 385.37M | 397.75M | 374.93M | 306.77M | 333M | 230.06M | 212.07M | 195.98M | 157.66M | -170.67M | 59.73M | -144.63M | 189M | 206.4M | 135M | 199.9M |
| Net Margin % | -4.6% | -6.86% | 9.32% | -29.77% | 3.47% | 6.68% | 4.07% | 11.03% | 4.81% | 7.61% | 10.98% | 10.16% | 9.72% | 7.01% | 8.22% | 8.99% | 9.94% | 9.22% | 7.63% | 8.68% | 7.3% | 6.87% | 6.54% | 5.02% | -6.06% | 2.09% | -3.82% | 4.47% | 6.25% | 4.23% | 6.66% |
| Net Income Growth % | -152% | -183.61% | 125.89% | -831.84% | -52.53% | 92.67% | -57.25% | 136.13% | -44.42% | -28.07% | 22.03% | 8.63% | 45.33% | -14.82% | -12.81% | -3.11% | 6.09% | 22.22% | -7.88% | 44.75% | 8.48% | 8.21% | 24.3% | 192.38% | -385.73% | 141.3% | -176.52% | -8.43% | 52.89% | -32.47% | 28.47% |
| Net Income (Continuing) | -218.2M | -318.2M | 394.4M | -1.49B | 203M | 435.3M | 225.4M | 520.5M | 220.43M | 396.61M | 533.15M | 446.87M | 413.31M | 283.93M | 336M | 385.37M | 397.75M | 374.93M | 306.77M | 333M | 230.06M | 212.07M | 195.98M | 175.01M | 75.06M | 60.8M | -144.63M | 189M | 206.4M | 135M | 199.9M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 25.9M | 27M | 27.4M | 25.1M | 29.1M | 61.1M | 64.4M | 0 | 0 | 0 | 22.7M | 40.17M | 42.73M | 45.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.55 | -2.30 | 2.75 | -10.73 | 1.47 | 3.10 | 1.62 | 4.05 | 1.74 | 3.12 | 4.34 | 3.57 | 3.20 | 2.17 | 2.55 | 2.82 | 2.74 | 2.48 | 2.00 | 1.97 | 1.29 | 1.09 | 0.96 | 0.85 | -0.98 | 0.35 | -0.82 | 0.93 | 1.00 | 0.68 | 0.98 |
| EPS Growth % | -154.79% | -183.64% | 125.63% | -829.93% | -52.58% | 91.36% | -60% | 132.76% | -44.23% | -28.11% | 21.57% | 11.56% | 47.47% | -14.9% | -9.57% | 2.92% | 10.48% | 24% | 1.52% | 52.71% | 18.35% | 13.54% | 12.94% | 186.73% | -380% | 142.68% | -188.17% | -7% | 47.06% | -30.61% | 27.27% |
| EPS (Basic) | - | -2.30 | 2.77 | -10.73 | 1.47 | 3.11 | 1.62 | 4.07 | 1.75 | 3.17 | 4.40 | 3.61 | 3.24 | 2.20 | 2.58 | 2.88 | 2.86 | 2.69 | 2.18 | 2.13 | 1.38 | 1.19 | 1.11 | 0.91 | -0.99 | 0.35 | -0.82 | 0.97 | 1.04 | 0.70 | 1.03 |
| Diluted Shares Outstanding | 142.6M | 140.2M | 140.3M | 138.8M | 138.9M | 138.4M | 137.55M | 128.5M | 126.89M | 127.03M | 126.97M | 126.69M | 129.89M | 131.79M | 131.93M | 136.7M | 145.67M | 152.78M | 155.23M | 171.21M | 178.34M | 194.56M | 204.14M | 185.49M | 174.16M | 170.66M | 176.38M | 203.23M | 206.4M | 198.53M | 203.98M |
| Basic Shares Outstanding | 140.5M | 140.2M | 139.4M | 138.8M | 138.7M | 138M | 137.26M | 127.9M | 126.13M | 125.04M | 125.29M | 125.01M | 128.41M | 130.19M | 130.07M | 133.82M | 139.08M | 139.49M | 140.88M | 156.05M | 166.71M | 178.21M | 176.56M | 173.26M | 172.4M | 170.66M | 176.38M | 194.85M | 198.46M | 192.86M | 194.08M |
| Dividend Payout Ratio | - | - | 101.12% | - | 189.34% | 87.36% | 167.48% | 64.67% | 140.3% | 69.84% | 45.14% | 49.97% | 52.14% | 54.55% | 67.1% | 39.97% | 33.45% | 29.73% | 34.9% | 28.26% | 32.72% | 27.77% | 18.92% | 13.23% | - | 34.67% | - | 24.07% | 20.49% | 29.41% | 16.51% |
Segmental Revenue Volatility
According to recent financial disclosures, Hasbro's revenue trajectory has shifted from double-digit declines in 2024 to a 12.7% year-over-year growth rate in 2026Q1, suggesting that the company's pivot toward high-margin digital licensing and core gaming IP is beginning to stabilize top-line performance after significant historical volatility.
The transition from negative growth in 2024 to positive expansion in early 2026 indicates that the company is successfully moving past the inventory-heavy cycles that previously plagued its consumer products division. Investors should monitor whether this growth is sustainable or merely a reflection of easier year-over-year comparisons following the divestiture of non-core entertainment assets.
As reported in quarterly filings, Hasbro achieved a gross margin of 68.2% in 2026Q1, a significant improvement from the 45.2% trough observed in 2023Q4, which appears to validate the strategic shift toward high-margin digital gaming and intellectual property licensing over capital-intensive physical toy manufacturing.
The sustained gross margin profile, consistently hovering near 70% in recent quarters, suggests that the Wizards of the Coast segment is exerting a greater influence on the overall profitability mix. This structural shift likely provides a buffer against the inflationary pressures on resin and freight that typically compress margins for traditional toy manufacturers.
Based on the provided income statement data, Hasbro's operating margin reached 27.0% in 2026Q1, demonstrating a marked improvement in operating leverage as the company successfully reduced its SG&A burden from the elevated levels seen during the 2024 fiscal year when restructuring costs were at their peak.
The reduction in SG&A expenses relative to gross profit suggests that management's 'Blueprint 2.0' strategy is effectively streamlining the cost base. This operating leverage indicates that the company is better positioned to convert incremental revenue into bottom-line profit compared to the previous period of heavy investment in entertainment production.
As evidenced by the 2025Q2 net loss of $855.8 million followed by a return to profitability, Hasbro's reported net income remains highly sensitive to non-operating items and one-time charges, necessitating a focus on operating income to gauge the true health of the core business operations.
The wide swings in net income appear to be driven by significant impairment charges and divestiture-related accounting, which obscure the underlying cash-generating capability of the gaming and toy segments. Analysts should treat the recent EPS recovery with caution until the company demonstrates several consecutive quarters of clean, non-adjusted earnings growth.
While the shift toward digital gaming is promising, the company's historical reliance on the fourth-quarter toy season remains a potential vulnerability, as evidenced by the 2024Q4 performance where operating margins compressed to 5.4% despite the high-margin potential of the Wizards of the Coast segment.
Short-term investors may focus on the risk that the gaming segment's growth could decelerate if player engagement with core titles like Magic: The Gathering reaches saturation. Furthermore, the company's continued exposure to the discretionary consumer spending environment warrants monitoring, as any downturn could disproportionately impact the lower-margin consumer products division.
Quick answers to the most common questions about buying HAS stock.
For fiscal year 2025, Hasbro, Inc. (HAS) reported total revenue of $4.70B. This represents a 56.6% increase compared to $3.00B in 1996.
Hasbro, Inc. (HAS) reported a net loss of $322.4M for the fiscal year ending 2025.
Hasbro, Inc. (HAS) reported an operating income of $1.06B, resulting in an operating profit margin of 22.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Hasbro, Inc. (HAS) generated $3.30B in gross profit for the year, representing a gross profit margin of 70.3%. This demonstrates the company's core pricing power and production efficiency.