Hasbro Inc banner
Financial profile · Q3 FY2026

Franchise-led revenue is recovering while cash generation remains durable

Hasbro's multi-year record combines sales and earnings that can vary with franchise cycles with consistently positive free cash flow and comparatively modest capital spending. Cash generation has been steadier than reported earnings, and recent revenue recovery is restoring operating leverage.

What is developing

The latest quarter extends the recovery after several years of weaker revenue, with stronger sales translating into improved operating earnings. Free cash flow remained positive, though a quarterly working-capital outflow tempered operating cash conversion.

What matters next

Whether revenue growth broadens beyond Magic and is sustained without relying on working-capital releases.

USD
Metric FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
5B 5.2B 4.6B 4.7B 5.5B 6.4B 5.9B 5B 4.1B 4.7B
(2.3B) (2.4B) (2.2B) (2.2B) (2.3B) (2.5B) (2.4B) (2.1B) (1.5B) (1.7B)
2.7B 2.8B 2.4B 2.5B 3.2B 3.9B 3.5B 2.9B 2.7B 3B
(1.9B) (2B) (2B) (1.8B) (2.5B) (3B) (2.6B) (2.5B) (1.9B) (2B)
(1.6B) (1.6B) (1.7B) (1.5B) (1.7B) (1.9B) (1.7B) (1.6B) (1.5B) (1.5B)
R&D
(266.4m) (269m) (246.2m) (262.2m) (259.5m) (315.7m) (307.9m) (306.9m) (294.1m) (385.6m)
(34.8m) (28.8m) (28.7m) (47.3m) (144.7m) (116.8m) (105.3m) (83m) (68.3m) (66m)
(35.9m) (35.8m) (43.9m) (85.6m) (387.1m) (628.6m) (551.1m) (448.9m) (49.3m) (35.8m)
788m 810.4m 331.1m 652.1m 720.4m 889.3m 851.1m 413.9m 774m 1.1B
(58.4m) (52.5m) (43.5m) (52.1m) (206.1m) (124.5m) (144.7m) (165.7m) (114.5m) (133m)
97.4m 98.3m 90.8m 101.9m 201.1m 179.7m 171m 186.3m 171.2m 163.4m
— — — — (218.6m) (173.4m) (443.4m) (2B) (162.2m) (1.1B)
0 0 — (400k) (4.9m) 200k (400k) — — —
(37.1m) 28.3m (17.2m) (5.4m) 31.3m (9.7m) (1.1m) (600k) (300k) 18.2m
692.5m 786.2m 270.4m 594.2m 322.1m 581.9m 261.5m (1.7B) 497m (102m)
(159.3m) (73.1m) (9.3m) (73.8m) (96.6m) (107.2m) (58.5m) 221.3m (102.6m) (216.2m)
533.2m 713m 261.1m 520.5m 225.4m 474.7m 203m (1.5B) 394.4m (318.2m)
18.2m 0 0 — (2.9m) (6.6m) 500k (1.5m) (8.8m) (4.2m)
551.4m 396.6m 220.4m 520.5m 222.5m 428.7m 203.5m (1.5B) 385.6m (322.4m)
4.34 3.12 1.73 4.05 1.62 3.09 1.47 (10.73) 2.75 (2.30)