Short answer
Hasbro (HAS) filed its fiscal 2024 10-K annual report with the SEC on Feb 27, 2025. It reported revenue of $4.1B (−17.3% year over year) and net income of $386M.
- Top risk flagged: Regulatory risk from licensing with The Walt Disney Company for MARVEL and STAR WARS, with substantial minimum royalty guarantees risking write-offs
FY2024 key financial metrics · XBRL
- Revenue
- $4.1B
- −17.3% YoY
- Net income
- $386M
- +125.9% YoY
- Operating margin
- 16.7%
- +47.4 pp YoY
- EPS (diluted)
- $2.75
- +125.6% YoY
- ROE
- 32.5%
- +169.6 pp YoY
- Operating cash flow
- $847M
- +16.8% YoY
Source: XBRL data from the Hasbro (HAS) FY2024 10-K on SEC EDGAR. USD.
Hasbro FY2024 10-K analysis
AI summary of each section, grounded in the filing text
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
- 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
Generated from the filing text; verify against the original. How to read a 10-K
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