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Hasbro Inc HAS

Morningstar Rating
$50.84 +0.43 (0.85%)
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Company Report

Top-Line Growth Remains Elusive at Hasbro, but Profitability Gains on the Upswing

Hasbro continues to hold a leading position in the nearly $30 billion North American retail toy industry (Circana), developing, manufacturing, and marketing well-known global brands that include Transformers, My Little Pony, and Nerf. The firm operates a relatively differentiated business model, thanks to its digital properties exposure, content creation ability, and key licensing arrangements, abilities can be better monetized with the divestiture of Entertainment One (EOne) entertainment-related assets complete. Production capabilities support Hasbro's multimedia presence, as does Discovery Family, a joint venture that brings Hasbro's brands to television, bolstering the firm's brand blueprint strategy. Hasbro has historically dominated the big-screen, building brand loyalty and generating new streams of revenue from its licensing businesses (like Star Wars and Marvel). We think Hasbro and the toy industry have modest runway for growth ahead through international growth (Asia-Pacific and emerging markets still provide longer-term growth potential through share gains) and acquisitions of strategic players that fit into Hasbro's portfolio (most recently D&D Beyond).

Price vs Fair Value

HAS is trading within a range we consider fairly valued.
Price
$50.42
Fair Value
$12.00
Uncertainty
Medium
1-Star Price
$883.60
5-Star Price
$29.70
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Opportunities exist from entertainment, bolstered by the Discovery Family network, owned production capabilities, and film tie-ins, supporting product demand.

Bears

The market for traditional toys could continue to shrink as a percentage of the total as technology plays a more dominant role in product selection and children shift to more digital toys at a younger age.

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News

Trading Information

Previous Close Price
$50.41
Day Range
$50.4751.42
52-Week Range
$42.6773.58
Bid/Ask
$50.84 / $50.87
Market Cap
$7.05 Bil
Volume/Avg
363,796 / 1.9 Mil

Key Statistics

Price/Earnings (Normalized)
14.61
Price/Sales
1.40
Dividend Yield (Trailing)
5.55%
Dividend Yield (Forward)
5.55%
Total Yield
5.55%

Company Profile

Hasbro is a branded play company providing children and families around the world with entertainment offerings based on a world-class brand portfolio. From toys and games to television programming, motion pictures, and a licensing program, Hasbro reaches customers by leveraging its well-known brands such as Transformers, Nerf, and Magic: The Gathering. Ownership stakes in Discovery Family, which offers programming around Hasbro brands, and production capabilities has helped bolster Hasbro's multichannel presence. The firm acquired EOne in 2019, bolting on popular family properties like Peppa Pig and PJ Masks, and since has pruned noncore lines from the tie-up. Furthermore, the addition of Dungeons & Dragons Beyond in 2022, offered the firm access to 10 million digital tabletop players.
Sector
Consumer Cyclical
Industry
Leisure
Stock Style Box
Small Value
Total Number of Employees
6,490

Competitors

Valuation

Metric
HAS
MAT
DIS
Price/Earnings (Normalized)
14.6117.5527.70
Price/Book Value
6.443.232.02
Price/Sales
1.401.292.28
Price/Cash Flow
7.528.0716.13
Price/Earnings
HAS
MAT
DIS

Financial Strength

Metric
HAS
MAT
DIS
Quick Ratio
0.641.550.69
Current Ratio
1.602.330.84
Interest Coverage
−2.483.753.37
Quick Ratio
HAS
MAT
DIS

Profitability

Metric
HAS
MAT
DIS
Return on Assets (Normalized)
5.34%2.23%4.22%
Return on Equity (Normalized)
18.15%6.85%8.71%
Return on Invested Capital (Normalized)
9.49%4.71%5.86%
Return on Assets
HAS
MAT
DIS
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