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Mattel Inc MAT Stock Quote

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Morningstar‘s Stock Analysis MAT

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Deceleration of Shipments at Mattel Doesn't Prognosticate Fundamental Trouble

Jaime M. Katz, CFA Senior Equity Analyst

Business Strategy and Outlook

| Jaime M. Katz, CFA |

Mattel continues to harvest gains from its turnaround, delivering above break-even operating margins starting in 2019 and reaching around 14% in 2021. We expect Mattel to produce further adjusted operating margin expansion ahead, helped by the execution of its $250 million cost-saving program. While movement to a capital-light strategy offers lower capital and operating expenditures than in the past (supporting profit growth while allowing for investment in product innovation), profits could be hurt by tactical investments in dolls and vehicles capacity as well as logistics and input cost inflation.

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Company Profile MAT

Business Description

Mattel markets toy products that are sold to its wholesale customers and direct to retail consumers. The company offers products for children and families, including toys for infants and preschoolers, girls and boys, youth electronics, handheld and other games, puzzles, educational toys, media-driven products, and plush and fashion-related toys. Mattel's owned portfolio includes Barbie, Hot Wheels, Fisher-Price, Thomas & Friends, and American Girl. In addition, it currently manufactures toy products for its segments both internally and externally (through manufacturing partners). Just over half of its net sales are generated from North America, while the remainder stem from international markets.

333 Continental Boulevard
El Segundo, CA, 90245-5012
T +1 310 252-2000
Industry Leisure
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 36,300

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