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Hasbro (HAS) FY2024 10-K Annual Report

Filed: Feb 27, 2025
Consumer Discretionary
Games, Toys & Children's Vehicles (No Dolls & Bicycles)SEC EDGAR
Hasbro Overview

Hasbro (HAS) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 27, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Hasbro FY2024 10-K Analysis

Business Overview

  • • Core business model: Design, manufacture, and market of toys and games, integrated with digital and entertainment content
  • • No new products, services, or segments explicitly introduced or emphasized in this filing year
  • • Strategic focus on corporate governance transparency and compliance, with detailed disclosure of insider trading policies and Code of Conduct availability
  • • No specific quantitative metrics disclosed within the Business section text provided
  • • Unusual emphasis on comprehensive online accessibility of governance documents and real-time updates on Code of Conduct waivers or amendments

Management Discussion & Analysis

  • • Revenue $4,135.5M, down 17.3% YoY from $5,003.3M; decline driven by Entertainment down 88% ($579M) and Consumer Products down 12% ($342.5M); Wizards up 4% ($53.7M)
  • • Operating profit $690M (16.7% margin) vs operating loss $(1,538.8)M (-30.8% margin) in prior year
  • • Best segment: Wizards of the Coast & Digital Gaming with $632M operating profit, 41.8% margin (20% profit growth); worst: Entertainment segment loss $1.6M vs prior $(1,911.5)M mainly from impairments and sale of eOne
  • • Operating cash flow $847.4M up from $725.6M; Capex guidance $225-250M for 2025; $389.9M dividends paid; $83.1M debt repurchased; issued $500M 2034 Notes, retired 2024 Notes ($500M)
  • • Management highlights continued cost savings, supply chain productivity, risks from retail inventory management and inflation pressures, ongoing evaluation of global tax impacts including OECD Pillar 2 starting 2024–2025

Risk Factors

  • • Regulatory risk from licensing with The Walt Disney Company for MARVEL and STAR WARS, with substantial minimum royalty guarantees risking write-offs
  • • Geopolitical risk from tariffs on China-manufactured goods imported to the U.S., increasing costs, reducing sales, and causing order delays or losses
  • • Supply chain risk due to reliance on third-party manufacturers mainly in China, Vietnam, U.S., India, with risks of delays, quality, labor shortages, and cost increases
  • • Competitive risk from digital gaming industry competition and high development costs, with risk of write-offs if digital games fail commercially
  • • Financial risk from customer concentration, with Wal-Mart and Amazon accounting for about 23% of 2024 net revenues combined

Hasbro FY2024 Key Financial Metrics
XBRL

Revenue

$4.1B

▼ -17.3% YoY

Net Income

$386M

▲ +125.9% YoY

Operating Margin

16.7%

▲ +4744bp YoY

Net Margin

9.3%

▲ +3909bp YoY

ROE

32.5%

▲ +16955bp YoY

Total Assets

$6.3B

▼ -3.1% YoY

EPS (Diluted)

$2.75

▲ +125.6% YoY

Operating Cash Flow

$847M

▲ +16.8% YoY

Source: XBRL data from Hasbro FY2024 10-K filing on SEC EDGAR. All figures in USD.

Other Hasbro Annual Reports

FY2025 10-K

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