Hasbro (HAS) Research | Aerarium Research

Forward Estimates

EPS Estimates

Current Qtr

$1.12

$1.05$1.30

vs $1.30-13.6%

12 analysts

Next Qtr

$1.92

$1.71$2.14

vs $1.68+14.3%

11 analysts

Current Yr

$6.01

$5.84$6.36

vs $5.54+8.5%

13 analysts

Next Yr

$6.41

$5.96$6.80

vs $6.01+6.7%

16 analysts

Revenue Estimates

Current Qtr

$1.06B

$1.04B$1.10B

vs $980.80M+8.0%

11 analysts

Next Qtr

$1.51B

$1.49B$1.64B

vs $1.39B+9.1%

11 analysts

Current Yr

$4.99B

$4.91B$5.14B

vs $4.70B+6.2%

13 analysts

Next Yr

$5.29B

$5.07B$5.55B

vs $4.99B+5.9%

14 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for HAS on EDGAR.

HAS filing events and research context
Filed	Item	Context
Feb 25, 2026	business	Hasbro operates as a franchise-first games, IP, and toy company centered on its "Playing to Win" strategy, which prioritizes "aging up" its consumer base and expanding digital engagement. The company's primary growth engine is the Wizards of the Coast segment, where Magic: The Gathering achieved record revenues through "Universes Beyond" collaborations with brands like Final Fantasy. Digital licensing, led by the Monopoly Go! mobile game, and out-licensing for location-based entertainment, such as Peppa Pig Theme Parks, provide high-margin, capital-light revenue streams. To enhance shareholder value, Hasbro is executing an Operational Excellence program that has delivered $800 million in cost savings and included the divestiture of eOne, which reduced content spend by over 90%. The portfolio balances owned brands like Transformers and Nerf with premier licensed partnerships, including Marvel and Star Wars. Direct-to-consumer growth is driven by platforms such as Hasbro Pulse and D&D Beyond. However, the company faces significant customer concentration, with Amazon and Walmart alone representing 20% of consolidated global net revenues. Future growth initiatives include the rapid adoption of AI and the 2027 release of internally developed digital titles such as Exodus and Warlock.
Feb 25, 2026	mda	Hasbro reported 2025 net revenues of $4.7 billion, a 13.7% increase driven primarily by the Wizards of the Coast and Digital Gaming segment, which grew 44.7% to $2.2 billion. This growth was fueled by record demand for Magic: The Gathering Universes Beyond sets—including Final Fantasy and Spider-Man—and increased licensing revenue from Monopoly Go!. Conversely, the company realized a net loss of $322.4 million, largely due to a $1.02 billion non-cash goodwill impairment in the Consumer Products segment. This impairment was triggered by macroeconomic headwinds and U.S. tariffs, which added $44.9 million to cost of sales. Consumer Products revenues declined 4.2%, as weakness in Nerf and Play-Doh offset gains in Transformers and Beyblade. While North American sales fell, Europe showed strength. A February 2026 Supreme Court ruling against IEEPA tariffs may provide future refunds. Hasbro maintains $776.6 million in cash against $3.3 billion in long-term debt, with projected 2026 capital expenditures of $250 million. The company also noted the impact of the One Big Beautiful Bill Act on R&D expensing and deferred tax assets.
Feb 25, 2026	risk_factors	Hasbro faces substantial financial risk from U.S. trade policy and tariffs, which contributed to a $1.02 billion non-cash goodwill impairment in the Consumer Products segment and $44.9 million in direct costs during 2025. While the Wizards of the Coast and Digital Gaming segment shows strong growth—led by Magic: The Gathering and Monopoly Go!—the Consumer Products segment remains vulnerable to macroeconomic headwinds and declining sales in North America, Asia Pacific, and Latin America. The company's revenue is heavily concentrated in the retail sector, with the top five customers accounting for approximately 35% of consolidated net revenues. Significant seasonality poses further risk, as 60% of annual revenue is recognized in the second half of the year, increasing the potential for inventory obsolescence, underproduction of popular items, or shipping failures. Additionally, Hasbro is exposed to global inflation affecting material, shipping, and warehousing costs, as well as foreign currency volatility involving the Euro, British pound, Canadian dollar, Brazilian real, and Mexican peso. These factors, combined with the volatility of entertainment content release timing, create significant uncertainty for forward-looking financial results.

Filed

Item

Context

Feb 25, 2026

business

Hasbro operates as a franchise-first games, IP, and toy company centered on its "Playing to Win" strategy, which prioritizes "aging up" its consumer base and expanding digital engagement. The company's primary growth engine is the Wizards of the Coast segment, where Magic: The Gathering achieved record revenues through "Universes Beyond" collaborations with brands like Final Fantasy. Digital licensing, led by the Monopoly Go! mobile game, and out-licensing for location-based entertainment, such as Peppa Pig Theme Parks, provide high-margin, capital-light revenue streams. To enhance shareholder value, Hasbro is executing an Operational Excellence program that has delivered $800 million in cost savings and included the divestiture of eOne, which reduced content spend by over 90%. The portfolio balances owned brands like Transformers and Nerf with premier licensed partnerships, including Marvel and Star Wars. Direct-to-consumer growth is driven by platforms such as Hasbro Pulse and D&D Beyond. However, the company faces significant customer concentration, with Amazon and Walmart alone representing 20% of consolidated global net revenues. Future growth initiatives include the rapid adoption of AI and the 2027 release of internally developed digital titles such as Exodus and Warlock.

Feb 25, 2026

mda

Hasbro reported 2025 net revenues of $4.7 billion, a 13.7% increase driven primarily by the Wizards of the Coast and Digital Gaming segment, which grew 44.7% to $2.2 billion. This growth was fueled by record demand for *Magic: The Gathering* Universes Beyond sets—including *Final Fantasy* and *Spider-Man*—and increased licensing revenue from *Monopoly Go!*. Conversely, the company realized a net loss of $322.4 million, largely due to a $1.02 billion non-cash goodwill impairment in the Consumer Products segment. This impairment was triggered by macroeconomic headwinds and U.S. tariffs, which added $44.9 million to cost of sales. Consumer Products revenues declined 4.2%, as weakness in *Nerf* and *Play-Doh* offset gains in *Transformers* and *Beyblade*. While North American sales fell, Europe showed strength. A February 2026 Supreme Court ruling against IEEPA tariffs may provide future refunds. Hasbro maintains $776.6 million in cash against $3.3 billion in long-term debt, with projected 2026 capital expenditures of $250 million. The company also noted the impact of the One Big Beautiful Bill Act on R&D expensing and deferred tax assets.

Feb 25, 2026

risk_factors

Hasbro faces substantial financial risk from U.S. trade policy and tariffs, which contributed to a $1.02 billion non-cash goodwill impairment in the Consumer Products segment and $44.9 million in direct costs during 2025. While the Wizards of the Coast and Digital Gaming segment shows strong growth—led by Magic: The Gathering and Monopoly Go!—the Consumer Products segment remains vulnerable to macroeconomic headwinds and declining sales in North America, Asia Pacific, and Latin America. The company's revenue is heavily concentrated in the retail sector, with the top five customers accounting for approximately 35% of consolidated net revenues. Significant seasonality poses further risk, as 60% of annual revenue is recognized in the second half of the year, increasing the potential for inventory obsolescence, underproduction of popular items, or shipping failures. Additionally, Hasbro is exposed to global inflation affecting material, shipping, and warehousing costs, as well as foreign currency volatility involving the Euro, British pound, Canadian dollar, Brazilian real, and Mexican peso. These factors, combined with the volatility of entertainment content release timing, create significant uncertainty for forward-looking financial results.

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HAS filing events and research context

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