Latest Ratios: P/E Ratio 12.3x · EV/EBITDA 7.5x · ROE 17.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.4B | $6.3B | $6.1B | $6.7B | $6.4B | $7.7B | $6.1B | $4.7B | $3.4B | $5.3B | $9.5B |
| Enterprise Value | $5.9B | $7.8B | $7.4B | $8.1B | $8.3B | $9.9B | $8.5B | $7.3B | $5.7B | $7.3B | $10.9B |
| P/E Ratio → | 12.31 | 16.00 | 11.22 | 31.47 | 16.22 | 8.52 | 49.86 | — | — | — | 29.95 |
| P/S Ratio | 0.83 | 1.18 | 1.13 | 1.24 | 1.18 | 1.41 | 1.33 | 1.04 | 0.76 | 1.08 | 1.74 |
| P/B Ratio | 2.18 | 2.83 | 2.69 | 3.14 | 3.12 | 4.91 | 9.98 | 9.54 | 5.15 | 4.20 | 3.94 |
| P/FCF | 10.79 | 15.35 | 10.18 | 9.50 | 25.03 | 23.05 | 36.50 | 72.57 | — | — | 28.93 |
| P/OCF | 7.48 | 10.64 | 7.60 | 7.75 | 14.49 | 15.87 | 21.32 | 27.84 | — | — | 16.07 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.45 | 1.37 | 1.50 | 1.53 | 1.81 | 1.86 | 1.61 | 1.26 | 1.50 | 2.01 |
| EV / EBITDA | 7.46 | 9.84 | 7.86 | 10.30 | 9.11 | 10.30 | 14.99 | 25.75 | 151.88 | — | 13.98 |
| EV / EBIT | 9.48 | 12.79 | 9.96 | 13.83 | 13.07 | 13.66 | 22.65 | 175.21 | — | — | 22.00 |
| EV / FCF | — | 18.85 | 12.35 | 11.48 | 32.48 | 29.63 | 51.01 | 112.21 | — | — | 33.37 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.9% | 48.9% | 50.8% | 47.5% | 45.7% | 48.1% | 48.9% | 43.9% | 39.8% | 37.4% | 46.7% |
| Operating Margin | 11.6% | 11.6% | 12.9% | 10.3% | 12.4% | 13.4% | 8.2% | 0.8% | -5.2% | -6.9% | 9.5% |
| Net Profit Margin | 7.4% | 7.4% | 10.1% | 3.9% | 7.2% | 16.5% | 2.7% | -4.9% | -11.8% | -21.6% | 5.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.7% | 17.7% | 24.6% | 10.2% | 21.7% | 82.9% | 22.4% | -37.7% | -55.4% | -57.6% | 12.4% |
| ROA | 6.0% | 6.0% | 8.3% | 3.4% | 6.3% | 15.1% | 2.3% | -4.1% | -9.3% | -16.6% | 4.8% |
| ROIC | 12.9% | 12.9% | 14.6% | 11.2% | 13.1% | 16.1% | 9.2% | 0.9% | -5.6% | -7.0% | 10.1% |
| ROCE | 11.9% | 11.9% | 13.5% | 11.1% | 13.8% | 16.3% | 9.1% | 0.9% | -5.4% | -7.0% | 10.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.20 | 1.20 | 1.19 | 1.24 | 1.30 | 1.87 | 5.22 | 6.49 | 4.27 | 2.48 | 0.97 |
| Debt / EBITDA | 3.41 | 3.41 | 2.86 | 3.37 | 2.92 | 3.05 | 5.60 | 11.33 | 75.99 | — | 2.97 |
| Net Debt / Equity | — | 0.65 | 0.57 | 0.65 | 0.93 | 1.40 | 3.97 | 5.21 | 3.38 | 1.63 | 0.61 |
| Net Debt / EBITDA | 1.83 | 1.83 | 1.38 | 1.78 | 2.09 | 2.29 | 4.26 | 9.10 | 60.17 | — | 1.86 |
| Debt / FCF | — | 3.50 | 2.17 | 1.98 | 7.46 | 6.58 | 14.51 | 39.64 | — | — | 4.44 |
| Interest Coverage | 5.11 | 5.11 | 6.24 | 4.76 | 4.80 | 2.85 | 1.90 | 0.21 | -1.28 | -3.76 | 5.23 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.15 | 2.15 | 2.38 | 2.33 | 2.30 | 1.80 | 1.84 | 1.76 | 1.88 | 1.92 | 1.95 |
| Quick Ratio | 1.76 | 1.76 | 2.00 | 1.90 | 1.54 | 1.31 | 1.45 | 1.37 | 1.44 | 1.55 | 1.55 |
| Cash Ratio | 0.85 | 0.85 | 1.05 | 0.94 | 0.64 | 0.46 | 0.56 | 0.49 | 0.47 | 0.66 | 0.58 |
| Asset Turnover | — | 0.81 | 0.82 | 0.85 | 0.88 | 0.85 | 0.83 | 0.85 | 0.86 | 0.78 | 0.84 |
| Inventory Turnover | 4.86 | 4.86 | 5.27 | 5.00 | 3.30 | 3.64 | 4.44 | 5.10 | 5.00 | 5.09 | 4.74 |
| Days Sales Outstanding | — | 74.92 | 68.07 | 72.57 | 57.77 | 71.74 | 82.25 | 75.87 | 78.43 | 84.09 | 74.65 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | 5.9% | 5.5% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | 165.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.1% | 6.3% | 8.9% | 3.2% | 6.2% | 11.7% | 2.0% | — | — | — | 3.3% |
| FCF Yield | 9.3% | 6.5% | 9.8% | 10.5% | 4.0% | 4.3% | 2.7% | 1.4% | — | — | 3.5% |
| Buyback Yield | 13.5% | 9.5% | 6.6% | 3.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 13.5% | 9.5% | 6.6% | 3.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 5.9% | 5.5% |
| Shares Outstanding | — | $318M | $343M | $357M | $360M | $357M | $349M | $346M | $345M | $344M | $344M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MAT stock.
Mattel, Inc.'s current P/E ratio is 12.3x. The historical average is 21.2x. This places it at the 8th percentile of its historical range.
Mattel, Inc.'s current EV/EBITDA is 7.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.6x.
Mattel, Inc.'s return on equity (ROE) is 17.7%. The historical average is 12.4%.
Based on historical data, Mattel, Inc. is trading at a P/E of 12.3x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mattel, Inc. has 48.9% gross margin and 11.6% operating margin. Operating margin between 10-20% is typical for established companies.
Mattel, Inc.'s Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Revenue growth remains negative
Metrics are mathematically derived from official filings.
Margin Resilience Amidst Soft Demand
Gross margin held at 48.2% in Q2 2026, down from 50.9% a year earlier, while operating margin swung to 1.0% from -9.8% in Q1, per reported figures.
The sequential operating margin recovery suggests cost discipline is offsetting flat revenue, but the gross margin erosion from the 53.1% peak in Q3 2024 indicates input cost pressures or mix shifts. Net margin turned negative at -1.6% in Q2 2026, reflecting elevated SG&A and interest costs, which may limit near-term earnings power.
Return on Capital Remains Subdued
ROIC dipped to 0.2% in Q2 2026 from 1.6% a year earlier, while ROE turned negative at -0.9%, based on financial statements.
The low and volatile returns on invested capital suggest that Mattel is not consistently compounding shareholder value, with returns heavily dependent on seasonal Q3 peaks. The gap between ROIC and ROE indicates leverage is amplifying equity returns, but the negative ROE in Q2 2026 highlights the fragility of earnings outside the holiday quarter.
Working Capital Swings Signal Seasonality
Cash conversion cycle improved to 49 days in Q2 2026 from 136 days in Q2 2025, driven by faster receivables collection and extended payables, per SEC filings.
The dramatic CCC improvement is largely seasonal, as DSO fell to 61 days from 64 and DPO rose to 129 days from 67, indicating Mattel is leveraging supplier terms. However, DIO remains elevated at 118 days, suggesting inventory build-up ahead of the holiday season, which could pressure cash flow if demand softens.
Leverage Elevated but Stable
Debt-to-equity held at 1.37 in Q2 2026, with interest coverage of 0.43x, down from 3.14x a year earlier, as reported in financial statements.
The stable debt level of $2.7B combined with declining EBITDA has pushed D/EBITDA to 199x in Q2 2026, a figure that appears distorted by seasonal troughs in EBITDA. Interest coverage of 0.43x suggests that operating income is insufficient to cover interest expenses in the quarter, but this is typical for Mattel's seasonality; investors should monitor full-year coverage.
Liquidity Adequate with Seasonal Buffer
Current ratio improved to 1.90 in Q2 2026 from 1.62 a year earlier, while quick ratio rose to 1.26, indicating a stable liquidity position, per balance sheet data.
The current ratio remains above 1.5, providing a cushion against working capital swings, but the quick ratio of 1.26 suggests reliance on inventory to meet short-term obligations. Given the seasonal cash flow pattern, liquidity appears adequate, though a severe demand shock could strain the balance sheet if inventory markdowns are required.
Misapplied Metric: EV/EBITDA
EV/EBITDA of 7.37x appears cheap, but this metric is distorted by Mattel's seasonal EBITDA troughs and high debt, per reported figures.
Using EV/EBITDA on a trailing basis can mislead because EBITDA is heavily concentrated in Q3, making the multiple appear artificially low during off-peak quarters. A more appropriate measure is EV/EBIT or EV/EBITDA on a normalized, full-year basis, which would better reflect the company's true earnings power and leverage. Investors should also consider the impact of sales allowances and inventory reserves, which can obscure underlying profitability.