Hasbro, Inc. (HAS) — Fundamental Analysis & Key Financial Ratios

Kaplio's reading: Hasbro, Inc.

Updated on October 21, 2026 · accounts published on October 20, 2026

Reading of October 20, 2026: A business at record margins that still carries a heavy debt load

Hasbro trades at a P/E of 16.4, 40 % below its ten-year median of 27.2, with record margins but net debt at 11.3× fiscal 2025 EBITDA.

• Is Hasbro expensive or cheap? Its P/E has been lower only 1 % of the time over the past decade and sits 40 % below its ten-year median.
• How is the business doing? Operating margin of 26 % over the last 12 months, against a 10 % average across fiscal years 2014-2025.
• How strong is the balance sheet? Net debt was $19.13 per share in fiscal 2025, about 18 % of the current price, while the dividend yields 2.6 %.
• Would the balance sheet survive a recession? Net debt is 11.3× fiscal 2025 EBITDA, nearly four times the 3.0× ceiling considered healthy for a cyclical company.
• What to expect from the next earnings? Analysts expect EPS of $1.54 for the quarter due February 9, 2027; Hasbro has beaten estimates in 8 of the last 8 quarters.

Is Hasbro expensive or cheap?

Over the last 12 months Hasbro trades at a P/E of 16.4, 40 % below its ten-year median of 27.2 and 10 % below the 18.2 median of its sector. Over the past decade it has been cheaper only 1 % of the time. In a cyclical business that reading needs care: the P/E sits well under its three-year average of 30.5, which in this sector can signal peak earnings rather than a bargain. EV/sales of 3.0× in fiscal 2025 is above its ten-year average of 2.5×, and the stock is up 50 % in 12 months, within 1 % of its 52-week high of $109.52.

How is the business doing?

Revenue grew 14 % over the last 12 months and the operating margin reached 26 %, far above the 10 % average of fiscal 2014-2025. Fiscal 2025, at 23 %, was already the best of those 12 years. ROIC of 22 % over the last 12 months is 12.5 points above the sector median of 9 %. The longer record is much less steady: ROIC topped 10 % in only 3 of the last 10 fiscal years and fell to −26.7 % in 2023. The ROE of 135 % reflects a thin equity base, with P/B at 16.4×, more than exceptional returns.

How strong is the balance sheet?

At the end of fiscal 2025 Hasbro carried $25.42 of debt per share against $6.29 of cash, leaving net debt of $19.13, about 18 % of the current price. Debt to equity of 3.74 over the last 12 months is high and also explains the inflated ROE. The Altman Z-score of 3.4 sits in the safe zone, while the Piotroski score is a middling 5 of 9. Shareholders receive a 2.6 % dividend yield over the last 12 months, and the dividend per share has risen for 4 consecutive fiscal years through 2025.

Would the balance sheet survive a recession?

In consumer cyclicals, profits can shrink fast when spending falls, so the real test is how a company holds up across a full cycle. That is why the sector looks at five-year averages and at debt against cash earnings. Hasbro passes on the Altman Z-score (3.4, above the 2.99 safe line) and on inventory turnover (5.4× in fiscal 2025, above the 4.0× bar). It falls short where a downturn would hurt most: net debt of 11.3× EBITDA against a healthy ceiling of 3.0×, a five-year average ROIC of 4.2 % against 12 %, a five-year operating margin of 5.5 % against 8 %, and a current ratio of 1.40, just under 1.5.

What to expect from the next earnings?

On October 20, 2026 Hasbro reported EPS of $2.90 against $1.86 expected, a 56 % beat and its eighth in eight quarters. Even so, the 2026 EPS consensus barely moved over the last 30 days, from $6.13 to $6.14 to $6.13 among 7 analysts, so the latest beat has not yet lifted full-year estimates. Of the 33 analysts covering the company, 17 rate it a buy, 16 a hold and none a sell. The next report is due on February 9, 2027, with expected EPS of $1.54 for the quarter.

How this was prepared: the data comes from companies' official filings, collected by a professional provider, and from Kaplio's analysis engine (trailing-12-month ratios, 10 years of history and sector medians computed across US-listed companies). The text is written from that data alone, every figure is checked against it before publication, and it is reviewed when the company reports results. This is not investment advice.