Hasbro develops and monetizes toys, games and intellectual property through Consumer Products, Wizards of the Coast and Digital Gaming, and Entertainment. Its businesses include Magic: The Gathering, Dungeons & Dragons, Monopoly, Nerf, Transformers and Peppa Pig, alongside licensed partner brands.
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A snapshot of what HASBRO, INC. owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000046080-24-000034 | Feb 28, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 29, 20240000046080-25-000027 | Feb 27, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 28, 20250000046080-26-000011 | Feb 25, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Hasbro's recovery is increasingly a Magic-led gaming story rather than a uniform turnaround in toys. In 2025, Wizards' growth supported stronger operating economics and cash generation, but weaker Consumer Products expectations triggered a $1.02 billion goodwill impairment and a GAAP net loss. Results through September 2026 show continued gaming growth and improving Consumer Products profitability, although $55 million of recognized tariff refunds materially benefited the latest quarter. Operating cash flow strengthened, partly through working-capital and tax-payment effects. Debt prefunding, shareholder distributions and substantial digital-development investment compete for that cash. The principal uncertainties are franchise concentration, partner and manufacturing dependence, unsuccessful game development, tariff-refund collection and remaining cyber consequences. The eOne disposal is completed, but settlement of its final holdback does not establish that every retained contractual exposure has ended.
Sources: 10-K · 2025-12-28 · 10-Q · 2026-06-28 · EX-99.1 · 2026-10-20 · EX-2.1 · 2023-08-03
Hasbro combines product sales with royalties, digital games and branded entertainment. Wizards sells trading cards and role-playing products, operates digital experiences and licenses games to outside developers. Consumer Products sells toys and games and licenses merchandise; Entertainment now concentrates on retained Hasbro-branded content following the eOne Film and TV sale. Finished products accounted for 81% of 2025 revenue, so describing the entire company as asset-light would be misleading. Partner licensing can reduce investment needs, while proprietary game development requires substantial funding before commercial success is known. Monopoly Go figures represent Hasbro's recognized revenue, not the game's total consumer spending.
Sources: 10-K · 2025-12-28
Annual revenue was $5,003.3 million in 2023, $4,135.5 million in 2024 and $4,701.3 million in 2025. Those figures are not a clean same-business growth series: 2023 contained 53 weeks and included eOne through its December 27 sale, without discontinued-operations restatement. In 2025, Wizards generated $2,186.9 million of revenue and $1,006.8 million of operating profit, supported by Magic releases and favorable mix. Consumer Products revenue declined to $2,437.6 million. Its $942.6 million operating loss included a $1,021.9 million goodwill impairment; even adding back only that charge leaves $79.3 million, below 2024's $115.3 million profit. That limited calculation is not company-reported adjusted earnings. Consolidated GAAP operating profit was $11.1 million and parent-attributable net loss $322.4 million.
Sources: 10-K · 2023-12-31 · 10-K · 2024-12-29 · 10-K · 2025-12-28
The October 20 release reported September-quarter revenue of $1,595.3 million, up 15%, and GAAP operating profit of $517.3 million. Nine-month revenue reached $3,735.1 million and parent earnings $753.8 million. Magic release strength remained central, while Consumer Products returned to quarterly profitability. However, $55 million of recognized tariff refunds benefited both GAAP and adjusted results, including $48 million in Consumer Products. Collection was not established. Nine-month results also retained a $56.4 million digital-software impairment, whereas the prior-year $1,021.9 million goodwill impairment was excluded from adjusted comparisons. The GAAP rebound therefore greatly exceeds the improvement in recurring economics.
Management raised 2026 guidance to 7–9% constant-currency revenue growth, a 27–28% adjusted operating margin and $1.575–$1.625 billion adjusted EBITDA. These forecasts are not achieved results, reported-dollar growth or GAAP earnings guidance. The company could not provide a forward GAAP reconciliation because discrete charges remained unpredictable.
Sources: EX-99.1 · 2026-10-20
Operating cash flow rose from $725.6 million in 2023 to $847.4 million in 2024 and $893.2 million in 2025. Lower film-production spending after the disposal helped the transition, while 2025 working-capital requirements absorbed cash. Through September 2026, operating cash flow was $907.3 million versus $490.0 million, supported partly by a smaller operating-balance cash drag. Cash was $850.7 million and separate short-term investments $576.2 million. Debt carrying amounts totaled $3,510.3 million. The $226 million described as deployed toward debt reduction included Treasury purchases to prefund maturities; those purchases did not extinguish debt. Nine-month cash repayments were $152.5 million, dividends $296.1 million and share repurchases $149.3 million. Licensing also entails contractual cash demands that qualify its investment advantages: as of December 28, 2025, fixed royalty or nonrefundable licensing payments were unconditionally due regardless of future sales or performance, net of amounts already paid and recorded as prepaid royalties. The disclosed schedule was $90.4 million in 2026, $112.0 million in 2027, $111.1 million in 2028, $110.7 million in 2029, $102.0 million in 2030 and $100.8 million thereafter. Additional contingent minimum guarantees and performance-based payments dependent on specified future events were excluded from that schedule. The June quarterly report disclosed no material contractual-obligation changes outside normal-course payments and the specified financing, lease and other disclosed developments; it does not establish that this year-end schedule remained unchanged in October. These obligations constrain cash allocation, but the supplied evidence does not allocate them to individual counterparties or franchises.
Sources: 10-K · 2025-12-28 · EX-99.1 · 2026-10-20 · 10-Q · 2026-06-28
Magic's growing contribution increases dependence on successful releases, player engagement and partner intellectual property. Retailers generally make no binding long-term volume commitments, and outsourced manufacturing creates tariff, sourcing and delivery exposure. Capitalized games can require write-offs before launch. The March 28, 2026 cyber incident disrupted orders and reporting; the June quarterly report stated systems and normal operations were restored by June 28, but that did not resolve every legal or financial consequence. Direct incident expense reached $11.8 million through September, with total indirect losses and insurance recovery unestablished. Refinancing flexibility also remains conditional: the $1.1 billion revolver is borrowing capacity, not cash, and actual covenant headroom is undisclosed.
Sources: 10-K · 2025-12-28 · 8-K · 2026-04-01 · 10-Q · 2026-06-28 · EX-99.1 · 2026-10-20 · EX-10.1 · 2026-02-20
USD 4.7013 bn
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 4.7013 bn | 13.7% |
| 2024 | USD 4.1355 bn | — |
Consolidated external net revenue, including eOne through its disposal date in FY2023.
Sources: 10-K · 2025-12-28
USD 5.0033 bn
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 53
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 5.0033 bn | — |
Consolidated external net revenue, including eOne through its disposal date in FY2023.
Sources: 10-K · 2025-12-28
USD -322.4 m
FY2025 · GAAP · consolidated · Attribution: parent · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD -322.4 m | Turned loss-making |
| 2024 | USD 385.6 m | — |
Net earnings or loss attributable to Hasbro, Inc., after noncontrolling interests.
Sources: 10-K · 2025-12-28
USD -1.4893 bn
FY2023 · GAAP · consolidated · Attribution: parent · Reported currency · fiscal weeks: 53
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD -1.4893 bn | — |
Net earnings or loss attributable to Hasbro, Inc., after noncontrolling interests.
Sources: 10-K · 2025-12-28
USD 893.2 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 893.2 m | 5.4% |
| 2024 | USD 847.4 m | — |
GAAP consolidated operating cash flow; not net income or free cash flow.
Sources: 10-K · 2025-12-28
USD 725.6 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency · fiscal weeks: 53
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 725.6 m | — |
GAAP consolidated operating cash flow; not net income or free cash flow.
Sources: 10-K · 2025-12-28
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