Hasbro, Inc.

Hasbro, Inc. (HAS) Market Cap

Hasbro, Inc. has a market capitalization of —.

No quote data available.

CEO: Christian Cocks

Sector: Consumer Cyclical

Industry: Leisure

IPO Date: 1980-03-17

Website: http://shop.hasbro.com/en-us

Hasbro, Inc. (HAS) - Company Information

Market Cap: -|Sector: Consumer Cyclical

Company Profile

Hasbro, Inc., alongside its various subsidiaries, operates as a global leader in the play and entertainment industry. Its Consumer Products segment focuses on the procurement, marketing, and global distribution of toys and games. This division further amplifies its brands by out-licensing trademarks, characters, and intellectual property rights to third parties, enabling the creation and sale of a diverse range of branded consumer goods, such as apparel and toys. Its extensive product catalog encompasses action figures, arts and crafts supplies, fashion dolls and other figurines, playsets, preschool toys, plush items, sports-action blasters and accessories, toy vehicles, and specialty play items, in addition to various traditional games. The company also offers licensed merchandise spanning apparel, publishing, home goods, electronics, and toy products. Through its Wizards of the Coast and Digital Gaming segment, Hasbro cultivates its brands by developing immersive trading card games, role-playing games, and digital gaming experiences, leveraging intellectual property from both Hasbro and Wizards of the Coast. The Entertainment segment is devoted to the conception, acquisition, production, distribution, and commercialization of top-tier entertainment content. This includes feature films, scripted and unscripted television programs, family-friendly shows, digital media, and live performances. Hasbro distributes its offerings through an expansive network, reaching diverse channels including various retailers, distributors, wholesalers, discount and drug stores, mail-order and catalog vendors, department stores, and other traditional brick-and-mortar establishments, as well as a significant presence among e-commerce retailers. Consumers can also acquire products directly through the company's Hasbro PULSE e-commerce website. Established in 1923, Hasbro, Inc. maintains its corporate headquarters in Pawtucket, Rhode Island.

Analyst Sentiment

80%
Strong Buy

From 16 Active Polls

1Y Forecast: $109.00

▲ +0.0% Potential Upside

Consensus Target Metrics

Low Bound

$85

Median

$112

High Bound

$123

Average

$109

Price & Moving Averages

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🎯 Wall Street Analyst Intelligence Report

1-Year structural target targets, chart projections, and sentiment maps.

Average 1Y Target
$109.00
▲ +16.03% Upside
Low Target
$85.00
-10% Risk
Median Target
$112.00
19% Mid
High Target
$123.00
31% Max

Consensus Trend Projection

Trailing closures vs. 12-month metrics map.

Analyst Vote Distribution

Aggregate institutional coverage sentiment weights.

Sentiment volume allocation data unavailable.

valuation & financial ratiosdetailed financials

Historical valuation matrix unavailable.

📘 Full Research Report

ℹ️

AI-Generated Research: This report is for informational purposes only.

📘 HASBRO INC (HAS) — Investment Overview

🧩 Business Model Overview

Hasbro converts owned and licensed intellectual property (IP)—including classic board games, tabletop roleplaying, and entertainment franchises—into consumer products and media-adjacent experiences. The value chain runs from (1) IP development and rights management, to (2) product design and manufacturing/fulfillment (toys and games), to (3) distribution through retail channels and e-commerce, and (4) monetization via digital games, content licensing, and branded experiences. The company’s recurring “engine” is the ability to translate IP demand into multiple formats (physical, digital, and licensing) while using the same franchises across years.

💰 Revenue Streams & Monetisation Model

Hasbro monetizes primarily through:

  • Consumer product sales (physical toys and games): largely transactional, with margin influenced by product mix, promotions, and supply-chain efficiency.
  • Licensing and royalties: partially recurring as long as franchises remain in use across media and partners; tends to be less capital-intensive than manufacturing.
  • Digital gaming and media-related revenue: more variable, but typically offers better scalability when franchises achieve audience traction.

Margin drivers are dominated by (1) gross margin management through mix and sourcing discipline, (2) operating leverage from overhead absorption, and (3) working-capital control (inventory and receivables). Over time, the mix shift toward licensing/digital can improve the earnings profile by reducing manufacturing intensity.

🧠 Competitive Advantages & Market Positioning

Hasbro’s moat is primarily driven by Intangible Assets (IP) and multi-format monetisation. Classic franchises and storytelling ecosystems (e.g., tabletop roleplaying, collectible game experiences, and widely recognized game brands) create durable consumer recognition and partner interest. While any single product cycle can be volatile, the ability to extend a franchise across physical formats, digital experiences, and licensing raises the economic value of the underlying IP base.

Competitive benchmarking:

  • Mattel: stronger emphasis on proprietary consumer characters and broad retail execution; less reliant on third-party entertainment tie-ins than an IP-license-heavy model.
  • LEGO (LEGO Group): a highly efficient construction system with deep consumer engagement; competition is often won through product-engine design and franchise stickiness rather than licensing alone.
  • Spin Master: notable franchise development and toy-gaming synergies; competes for shelf space and seasonal demand with a portfolio that can refresh quickly.

Positioning contrast: Hasbro’s differentiated focus is the monetization of a portfolio of globally recognized games and storytelling IP across multiple channels (retail products plus licensing/digital). In contrast, Mattel and LEGO tend to leverage proprietary brand ecosystems and product systems with durable merchandising advantages. Hasbro’s competitive strength is the breadth and reusability of its IP franchises, which enables it to repackage value across formats and partners.

🚀 Multi-Year Growth Drivers

  • Franchise lifecycle monetization: multi-year extension of game and entertainment IP into new product lines, content releases, and partner activations.
  • Licensing and entertainment tie-in opportunities: rights-driven demand can expand through continued media presence and cross-promotional partnerships.
  • Digital and adjacent experiences: digital games and media-adjacent formats can increase lifetime value per franchise holder when product-market fit is achieved.
  • Board games and tabletop engagement trends: sustained consumer interest in in-home social entertainment supports TAM expansion beyond traditional toy cycles.
  • Operational discipline and portfolio focus: reallocating resources toward higher-velocity franchises and improving supply-chain efficiency supports structural margin resilience.

Over a 5–10 year horizon, the principal TAM expansion comes from greater share of leisure spending directed to branded in-home entertainment and from extending the value of IP franchises across more formats and distribution partners.

⚠ Risk Factors to Monitor

  • IP concentration and franchise durability risk: monetization depends on maintaining franchise relevance and successful cycles of content/product alignment.
  • Consumer demand cyclicality: discretionary spending swings can pressure sell-through and increase promotional intensity.
  • Retail and channel bargaining power: reliance on major retail partners can limit pricing power and increase inventory-related risk.
  • Supply-chain and working-capital volatility: manufacturing lead times, transportation costs, and forecasting errors can affect cash generation.
  • Intellectual property and rights management: licensing terms, partner performance, and IP litigation/infringement outcomes can alter expected monetization.
  • Product safety and regulatory compliance: consumer product regulations and safety standards can drive costs and restrict SKUs.

📊 Valuation & Market View

Equity markets for consumer brands with entertainment/IP exposure often apply a blend of valuation frameworks, including EV/EBITDA and P/E, with periodic reference to P/S when near-term earnings visibility is constrained by product-cycle dynamics. Key drivers that typically move valuation expectations include:

  • Quality of earnings: whether operating results show durability from IP-driven demand and mix improvement.
  • Gross margin and operating leverage: evidence of sustained cost control and better product mix.
  • Free cash flow conversion: working-capital discipline and reduced inventory drag.
  • Franchise monetization momentum: licensing and digital contributions that reduce manufacturing intensity.

A constructive market view typically aligns with a path toward more stable franchise cash flows and reduced earnings volatility from manufacturing exposure.

🔍 Investment Takeaway

Hasbro’s long-term investment case rests on intangible IP assets and the company’s capability to monetize franchises across physical, digital, and licensing channels. While the company operates in a cyclical consumer environment, the economic rationale strengthens when franchise durability and mix shift toward less manufacturing-intensive revenue streams support resilient margins and cash generation. The primary diligence focus is the durability of the IP portfolio, the execution of franchise cycles, and the discipline of working-capital management.


⚠ AI-generated — informational only. Validate using filings before investing.

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📊 AI Financial Analysis

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Earnings Data: Q Ending 2026-06-28

"HAS delivered a strong rebound in Q2’26 with revenue of $1.140B (+14.4% YoY; +14.0% QoQ from Q1’26). Net income was $160.9M (+118.4% YoY; -19.3% QoQ), and EPS was $1.13 (diluted $1.12). Profitability remains resilient: gross margin was 76.1% in Q2’26 versus 68.2% in Q1’26 and 74.6% in Q2’25, though net margin moderated QoQ to 14.1% (from 19.9% in Q1’26). Operating income was $252.5M (operating margin 22.2%), still well above Q2’25’s 22.8% level despite the sequential decline. Cash flow quality is solid. Operating cash flow was $266.7M and free cash flow was $247.7M; free cash flow covered dividends paid of $99.1M. The company continues to return capital while maintaining liquidity (cash & short-term investments of $1.378B). Balance sheet leverage is high in absolute terms (total debt $3.54B; net debt ~$2.66B), but equity is positive and improving versus earlier periods, with total assets rising to $6.04B. Total shareholder returns are likely strong given the stock’s 1-year price change of +87.3% (well above the 20% momentum threshold). With a current price near $97 and consensus target around $109.6, valuation sentiment appears supportive."

Revenue Growth

Strong

Q2’26 revenue grew +14.4% YoY ($1.14B vs. $0.981B) and +14.0% QoQ ($1.14B vs. $1.00B). The sequential trend is accelerating after weaker prior-year quarter dynamics.

Profitability

Positive

Gross margin expanded to 76.1% in Q2’26 (vs. 68.2% QoQ and 74.6% YoY). However net income declined QoQ: net margin fell to 14.1% from 19.9% (while still up sharply YoY). EPS remains positive at $1.13.

Cash Flow Quality

Good

Operating cash flow was $266.7M and free cash flow was $247.7M in Q2’26. FCF meaningfully covered dividends ($99.1M). Buybacks continued (repurchased $33.8M), supporting shareholder yield with adequate cash generation.

Leverage & Balance Sheet

Neutral

Leverage remains elevated (net debt ~$2.66B; total debt ~$3.54B). That said, liquidity is ample (cash & ST investments ~$1.38B) and total equity is positive at ~$730M, suggesting improved resilience versus earlier reported periods.

Shareholder Returns

Strong

Price momentum is very strong: +87.3% 1Y change. Dividend yield is modest (~0.8%), but capital returns (dividends + buybacks) add to total return, likely resulting in a high overall value creation profile.

Analyst Sentiment & Valuation

Positive

Consensus price target is ~$109.6 versus current price ~$97.2, implying upside. Valuation multiples appear elevated in the provided ratios (e.g., P/E ~15.8), but the strong momentum and earnings recovery support sentiment.

Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.

RevenueEarningsP/E RatioSharesDebtMargin %

Fundamentals Overview

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Hasbro reported another strong Q2 2026 led by Wizards/Magic, delivering 16% net revenue growth and raising full-year revenue to 5%–7% on constant currency. Magic grew 32% in Q2 and drove operating profit higher, with supply-chain execution highlighted by historic Strixhaven and Marvel Super Heroes launches. However, reported profitability took a meaningful hit from digital portfolio tightening: a $56M non-cash impairment lowered adjusted EPS by 2% and pulled overall adjusted operating margin down ~40 bps (Wizards margin down 560 bps). Management’s confidence for Magic durability rests on player base expansion, lapsed player re-engagement, and double-digit distribution growth/WPN expansion, while guidance embeds Magic’s typical Q4 volatility due to release timing. Consumer Products continues a steady low-single-digit growth trajectory (margin 6%–8%), with cyber impact smaller than expected (~$25M vs $40M–$60M). The company also increased the annual repurchase target to at least $200M, signaling cash confidence despite ongoing digital spend optimization.

AI IconGrowth Catalysts

  • Magic: The Gathering up 32% in Q2 and 34% in first half; continued benefits from Secrets of Strixhaven (largest premiere release in brand history) and Marvel Super Heroes (largest day-one release)
  • Consumer Products: third consecutive quarter of growth; GEM Squared categories outperformance driven by gamified, entertainment-driven multi-purchase/multi-generational demand
  • Strong Magic franchise expansion from Universes Beyond and expanded distribution plus real player growth/learnings on lapsed player re-engagement

Business Development

  • Multi-year licensing agreement with Nintendo to develop Legend of Zelda-inspired products (collaboration to begin showing in 2027; product reveals at San Diego Comic-Con later this week)
  • Universes Beyond and partner execution: Tonies launched first Hasbro Gaming for Toniebox 2 (strongest pre-orders in Tonies history)
  • Kayou brought My Little Pony trading cards to the U.S.
  • Aristocrat: Monopoly Big Board Bucks became a top new premium slot title from Hasbro partners

AI IconFinancial Highlights

  • Net revenue: $1.14B, up 16% YoY (Wizards +27% to $664M; Consumer Products +5% to $463M)
  • Adjusted operating profit: $282M, up 14% YoY; adjusted operating margin 24.8% down ~40 bps (impairment + incremental operating expenses tied to tightening digital gaming scope for 2028+)
  • Adjusted EPS (diluted): $1.28, down 2% YoY due to the digital write-off
  • First half: net revenue $2.1B up 15%; adjusted operating profit $569M up 21%; adjusted operating margin expanded 150 bps, largely Magic outperformance
  • Total Hasbro adjusted EBITDA: $330M in quarter (+9%); $670M first half (+16%)
  • Cost transformation: $70M contributed vs $150M full-year commitment
  • Cyber event: revenue impact Q2 lost ~$25M vs prior assumption $40M-$60M; operations fully restored ahead of schedule
  • Wizards operating margin: 40.7%, down 560 bps YoY due to impairment; despite this, segment operating profit +12% to $270M

AI IconCapital Funding

  • Share repurchase target increased from $100M to a minimum of $200M for the year
  • Returned $239M to shareholders via dividends and share repurchases through first half
  • Debt reduction: $147M contributed toward debt reduction through first half
  • Board authorized the third-quarter dividend

AI IconStrategy & Ops

  • Digital portfolio actions: canceled several games scheduled for release in 2028+; recorded $56M non-cash write-down for related capitalized costs
  • Digital strategy priorities: focus on trading card games and role-playing games; shift more development to lower-cost regions with Montreal as base; co-develop/co-publish with partners for cost advantages
  • Digital spend outlook: 2026 peak year; total digital spend to decrease at least 25% annually by 2028
  • Magic supply chain/supply capability: increased initial print and distribution runs; re-runs taking longer but mitigated by higher starting production
  • Print and capacity scaling: increasing fundamental capacity with print partners to support 2027/2028 demand

AI IconMarket Outlook

  • Full-year guidance raised: consolidated revenue growth 5%-7% YoY on constant currency basis; adjusted operating margin raised to 25%-26%
  • Full-year adjusted EBITDA: $1.45B-$1.5B
  • Wizards: revenue growth low double digits; operating margins low 40% range (benefiting from volume growth offsetting higher royalties, digital game impairments, and operating expense)
  • Consumer Products: revenue growth low single digits; adjusted operating margin 6%-8%; expects lost Q2 revenue recouped in back half behind entertainment slate and accelerated holiday innovation
  • Back-half operating margin buoyed by cost productivity across distribution, advertising/promotion, and operating expenses

AI IconRisks & Headwinds

  • Digital gaming impairments/portfolio tightening: $56M non-cash write-down; adjusted operating margin down ~40 bps overall and Wizards margin down 560 bps
  • Re-run/print timing: reprints taking longer than prior cycle, requiring larger initial print runs and capacity planning
  • Macro/trade policy and oil headwinds referenced as continuing headwinds
  • Holiday season uncertainty and retail shelf reset timing creating potential back-half volatility for Consumer Products
  • Q4 Magic comp sensitivity: guidance assumes Q4 down low single digits unchanged; attributed partly to comping a ginormous 2025 Q4 and Magic Q1 2027 timing (early February vs mid/late January)

Q&A: Analyst Interest

  • Topic: Magic growth durability on a higher base (2026 H2 and 2027+): Management cited Magic player base growth (new players plus reacquiring lapsed players) and the buying math (people playing/purchasing cards). They emphasized double-digit distribution growth, WPN growth, and more mass-market accounts to improve product access and experience.
  • Topic: Updated full-year guidance “puts and takes” and upside/downside mapping: Management said the raise largely “passes through” front-half upside, with back-half Wizards guidance unchanged. They explained Magic back-half math: Q3 up mid-single digits and Q4 down low single digits, driven by a Q4/Q1 release-timing swing (~$40M) tied to 2027’s early-February Q1.
  • Topic: Magic supply and print capacity mechanics plus longer-term deliverability: Management stated confidence in supplying Magic, contrasting 2025 (chasing demand, leaving demand on table) vs 2026 (larger initial print runs to meet distribution push and then backlist/reorders). They said reruns take longer but aren’t a core constraint due to upfront capacity and growing print-partner facility capacity for 2027/2028.

Sentiment: MIXED

Note: This summary was synthesized by AI from the HAS Q2 2026 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.

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© 2026 Stock Market Info — Hasbro, Inc. (HAS) Financial Profile