Latest Ratios: P/E Ratio -33.4x · EV/EBITDA 11.0x · ROE -36.8%. (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 | $10.9B | $11.6B | $8.0B | $7.1B | $8.5B | $14.1B | $12.9B | $13.6B | $10.3B | $11.5B | $9.9B |
| Enterprise Value | $13.5B | $14.2B | $10.7B | $10.0B | $12.0B | $17.2B | $16.6B | $13.0B | $10.8B | $11.8B | $10.3B |
| P/E Ratio → | -33.36 | — | 20.62 | — | 41.50 | 32.83 | 57.74 | 26.08 | 46.70 | 29.13 | 17.92 |
| P/S Ratio | 2.31 | 2.46 | 1.92 | 1.42 | 1.45 | 2.19 | 2.35 | 2.88 | 2.25 | 2.22 | 1.97 |
| P/B Ratio | 19.02 | 20.47 | 6.71 | 6.52 | 2.96 | 4.56 | 4.35 | 4.53 | 5.88 | 6.31 | 5.24 |
| P/FCF | 13.08 | 13.95 | 10.46 | 13.73 | 42.65 | 20.56 | 15.13 | 26.13 | 20.39 | 19.59 | 15.93 |
| P/OCF | 12.15 | 12.96 | 9.39 | 9.77 | 22.73 | 17.22 | 13.18 | 20.78 | 15.96 | 15.94 | 12.75 |
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 | — | 3.02 | 2.58 | 2.01 | 2.05 | 2.67 | 3.04 | 2.76 | 2.37 | 2.27 | 2.05 |
| EV / EBITDA | 10.97 | 11.55 | 11.83 | — | 10.02 | 10.27 | 14.38 | 14.19 | 19.95 | 11.60 | 10.54 |
| EV / EBIT | 12.74 | 231.26 | 15.97 | — | 27.70 | 22.55 | 31.71 | 18.73 | 29.99 | 13.36 | 13.06 |
| EV / FCF | — | 17.11 | 14.04 | 19.44 | 60.30 | 25.06 | 19.50 | 25.10 | 21.43 | 20.04 | 16.64 |
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 | 70.3% | 70.3% | 64.6% | 57.3% | 58.9% | 60.3% | 58.1% | 52.9% | 51.9% | 53.2% | 53.9% |
| Operating Margin | 22.5% | 22.5% | 16.7% | -30.8% | 7.0% | 11.9% | 9.2% | 13.8% | 7.2% | 15.6% | 15.7% |
| Net Profit Margin | -6.9% | -6.9% | 9.3% | -29.8% | 3.5% | 6.7% | 4.1% | 11.0% | 4.8% | 7.6% | 11.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -36.8% | -36.8% | 33.9% | -75.4% | 6.8% | 14.2% | 7.5% | 21.9% | 12.3% | 21.3% | 30.7% |
| ROA | -5.4% | -5.4% | 6.0% | -18.8% | 2.1% | 4.1% | 2.3% | 7.4% | 4.2% | 7.6% | 11.2% |
| ROIC | 22.4% | 22.4% | 13.0% | -22.2% | 4.9% | 8.9% | 8.2% | 20.6% | 11.4% | 27.5% | 24.8% |
| ROCE | 24.5% | 24.5% | 14.6% | -26.6% | 5.6% | 9.5% | 6.3% | 11.3% | 8.2% | 21.6% | 22.1% |
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 | 6.01 | 6.01 | 2.88 | 3.22 | 1.40 | 1.32 | 1.72 | 1.35 | 0.97 | 1.01 | 0.91 |
| Debt / EBITDA | 2.77 | 2.77 | 3.78 | — | 3.35 | 2.43 | 4.42 | 4.41 | 3.14 | 1.82 | 1.76 |
| Net Debt / Equity | — | 4.64 | 2.29 | 2.72 | 1.23 | 1.00 | 1.26 | -0.18 | 0.30 | 0.15 | 0.23 |
| Net Debt / EBITDA | 2.13 | 2.13 | 3.01 | — | 2.93 | 1.85 | 3.23 | -0.58 | 0.96 | 0.26 | 0.45 |
| Debt / FCF | — | 3.16 | 3.57 | 5.72 | 17.65 | 4.50 | 4.38 | -1.03 | 1.03 | 0.45 | 0.71 |
| Interest Coverage | 0.38 | 0.38 | 3.90 | -8.17 | 2.53 | 4.24 | 2.60 | 6.83 | 3.98 | 9.00 | 8.11 |
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 | 1.38 | 1.38 | 1.60 | 1.13 | 1.37 | 1.52 | 1.60 | 5.37 | 2.42 | 2.90 | 1.99 |
| Quick Ratio | 1.24 | 1.24 | 1.40 | 0.97 | 1.06 | 1.29 | 1.44 | 5.01 | 2.07 | 2.56 | 1.76 |
| Cash Ratio | 0.47 | 0.47 | 0.50 | 0.26 | 0.23 | 0.40 | 0.57 | 3.64 | 0.93 | 1.26 | 0.79 |
| Asset Turnover | — | 0.85 | 0.65 | 0.76 | 0.63 | 0.64 | 0.51 | 0.53 | 0.87 | 0.98 | 0.99 |
| Inventory Turnover | 5.38 | 5.38 | 5.34 | 6.43 | 3.55 | 4.61 | 5.79 | 4.98 | 4.97 | 5.63 | 5.97 |
| Days Sales Outstanding | — | 82.28 | 81.18 | 75.09 | 70.57 | 85.30 | 92.94 | 111.57 | 94.69 | 98.46 | 95.98 |
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 | 3.6% | 3.4% | 4.9% | 5.5% | 4.5% | 2.7% | 2.9% | 2.5% | 3.0% | 2.4% | 2.5% |
| Payout Ratio | — | — | 101.1% | — | 189.3% | 87.4% | 167.5% | 64.7% | 140.3% | 69.8% | 45.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 4.9% | — | 2.4% | 3.0% | 1.7% | 3.8% | 2.1% | 3.4% | 5.6% |
| FCF Yield | 7.6% | 7.2% | 9.6% | 7.3% | 2.3% | 4.9% | 6.6% | 3.8% | 4.9% | 5.1% | 6.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.2% | 1.5% | 0.0% | 0.0% | 0.5% | 2.4% | 1.3% | 1.5% |
| Total Shareholder Yield | 3.6% | 3.4% | 4.9% | 5.7% | 6.0% | 2.7% | 2.9% | 2.9% | 5.4% | 3.7% | 4.0% |
| Shares Outstanding | — | $140M | $140M | $139M | $139M | $138M | $138M | $128M | $127M | $127M | $127M |
High Financial Leverage
Based on current market pricing, Hasbro trades at a forward P/E of 14.31, which appears to reflect a conglomerate discount that fails to distinguish the high-margin Wizards of the Coast gaming engine from the more cyclical and capital-intensive traditional toy manufacturing segment.
The valuation gap between Hasbro and pure-play gaming peers suggests that investors are applying a discount for the company's legacy toy business, which historically carries lower growth prospects. If the market begins to re-rate the company as an IP licensing house, the current forward multiple may prove conservative, provided the digital royalty stream continues to scale.
According to historical financial data, Hasbro's ROIC has struggled to consistently exceed 8%, peaking at 8.2% in 2025Q3, which indicates that the company has faced significant challenges in generating adequate returns on its invested capital during its recent period of strategic restructuring.
The volatility in ROIC, including the negative readings observed in 2023Q4, highlights the impact of large-scale asset impairments and the integration costs of past acquisitions. Investors should monitor whether the shift toward a licensing-heavy model can sustainably lift returns by reducing the capital intensity of the overall business.
As reported in recent quarterly filings, Hasbro's cash conversion cycle has fluctuated significantly, reaching 76 days in 2026Q1, which reflects the inherent difficulty in managing inventory and receivables across both the high-velocity digital gaming segment and the seasonal physical toy business.
The inconsistency in DSO and DIO metrics suggests that the company is still refining its supply chain and distribution strategy following the divestiture of entertainment assets. A more stable CCC would be a key indicator that management has successfully optimized its working capital requirements for the new business model.
Based on reported figures, Hasbro's debt-to-equity ratio has climbed to 5.74 as of 2026Q1, a trend that appears driven by a shrinking equity base rather than debt accumulation, signaling that the company's balance sheet remains vulnerable to further non-cash charges or operational volatility.
While interest coverage ratios have shown some recovery, the high leverage levels relative to historical norms warrant close monitoring, as they limit the company's capacity for aggressive capital allocation. The current debt profile suggests that deleveraging remains a critical priority for management to restore long-term financial stability.
The most commonly misapplied metric for Hasbro is the traditional P/E ratio, which obscures the company's transition into a high-margin IP licensing firm by treating it as a stagnant toy manufacturer subject to the terminal decline of physical retail play.
Investors should instead focus on EV/EBITDA or segment-specific margins, as these better capture the cash-generating power of the Wizards of the Coast gaming ecosystem. Relying on traditional toy industry valuation benchmarks likely leads to an underestimation of the long-term value inherent in the company's core intellectual property portfolio.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HAS stock.
Hasbro, Inc.'s current P/E ratio is -33.4x. The historical average is 24.7x.
Hasbro, Inc.'s current EV/EBITDA is 11.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
Hasbro, Inc.'s return on equity (ROE) is -36.8%. The historical average is 10.9%.
Based on historical data, Hasbro, Inc. is trading at a P/E of -33.4x. Compare with industry peers and growth rates for a complete picture.
Hasbro, Inc.'s current dividend yield is 3.65%.
Hasbro, Inc. has 70.3% gross margin and 22.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Hasbro, Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.