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Mattel, Inc.

MAT Consumer Cyclical Leisure

Mattel, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $5.3 billion, down 0.59% from fiscal 2024.

Revenue
+10.5%
EPS
−137.5%
Free cash flow
+29.4%
Total debt
−0.11%

Quarter to June 2026, against a year earlier

14.98 0.59 −3.79%
Market cap
$4.3B
P/E
10.9×
Fwd P/E
9.7×
Dividend yield
—
F-score
5/9
Altman Z
3.08
Beneish M
−2.50
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.01
Sold, $m 0.59
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell — — — — — — — — 1 — — —
Insider Ownership 2.23%

Capital & Financial Ratios $m

Size
Market Cap 4,280.00
Revenue ttm 5,489.93
Net income ttm 427.37
Free cash flow ttm 434.61
Net debt Q 1,810.03
Valuation
P/E 10.86
Forward P/E 9.65
Price / sales 0.79
Forward P/S Powerpack
Price / FCF 9.96
Price / book 2.17
Financial health
Current ratio Q 1.90 (at or above 1.5: strong)
Debt / equity Q 1.17
Interest coverage Q 0.34
Growth
Revenue growth Q +10.48% (above 0%: growing)
Operating income growth Q −86.15% (below 0%: shrinking)
EPS, this year −8.06% (below 0%: weak)
EPS, next year A +20.28% (at or above 15%: strong)
Revenue, next year A +5.97%
EPS, past 5 yrs +28.06% (at or above 15%: strong)
EPS, next 5 yrs A +8.06%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 1.6×; over the ten years it ranged from 1.1× in 2026 to 2.4× in 2016.
P/E against its own 10 years 23.00%
10-year low 10-year high
P/S against its own 10 years 6.16%
10-year low 10-year high
P/B against its own 10 years 4.66%
10-year low 10-year high
EV/Sales against its own 10 years 6.64%
10-year low 10-year high
EV/FCF against its own 10 years 24.20%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–25
−100.0%/yr
  1. 1.52 ’16
  2. 0.91 ’17 −40
  3. 0.00 ’19 −100
  4. 0.00 ’20
  5. 0.00 ’21
  6. 0.00 ’22
  7. 0.00 ’23
  8. 0.00 ’24
  9. 0.00 ’25
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,261 1,388 1,243 524
Receivables 1,082 1,003 1,098 820
Inventory 572 502 563 830
Other — — — —
3,122 3,127 3,131 2,453
2023 2024 2025 Q'26
Payables 442 399 555 448
ST’ Debt — — — —
Other — — — —
1,342 1,316 1,458 1,290

Compound Annual Growth %

10y 5y 3y
Sales (0.64%) 3.11% (0.54%)
Cash Flow (2.11%) 15.74% 10.24%
Earnings 0.74% 26.33% 0.31%
Book Value (1.64%) 29.63% 2.79%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.03 Actual 0.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.05 0.89 Miss by 0.16
Q4 FY25 0.53 0.39 Miss by 0.14
Q1 FY26 −0.24 −0.20 Beat by 0.04
Q2 FY26 0.03 0.01 Miss by 0.02
Q3 FY26 0.94 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.20 (0.06) — — —
’25 (0.12) 0.16 0.88 0.34 1.24
’24 (0.08) 0.17 1.09 0.42 1.58
’23 (0.30) 0.08 0.41 0.42 0.60
’22 0.06 0.18 0.80 0.04 1.10
’21 (0.33) (0.02) 2.29 0.63 2.53
’20 (0.61) (0.31) 0.91 0.37 0.36
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 862 1,125 — — —
’25 827 1,019 1,736 1,766 5,348
’24 810 1,080 1,844 1,646 5,380
’23 815 1,087 1,919 1,621 5,441
’22 1,041 1,236 1,756 1,402 5,435
’21 874 1,026 1,762 1,795 5,458
’20 594 732 1,636 1,626 4,588
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (23) (179) — — —
’25 25 (300) 72 797 593
’24 35 (253) 156 862 801
’23 (206) (119) 246 949 870
’22 (144) (281) 150 718 443
’21 (36) (206) (15) 741 485
’20 (174) (295) 27 728 286
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (88) (240) — — —
’25 (11) (340) 23 739 411
’24 5 (288) 64 816 598
’23 (249) (150) 202 907 709
’22 (179) (299) 103 671 294
’21 (32) (241) (55) 705 378
’20 (209) (313) (1) 696 173
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,453 4,881 4,515 4,505 4,588 5,458 5,435 5,441 5,380 5,348 5,490 (0.2%) 5,667 5,971 6,163 +4.8%
Gross margin, % 46.70 37.38 39.84 43.90 48.89 48.13 45.66 47.48 50.82 48.73 47.50 +2.0 pt
EBT 402 (501) (415) (160) 178 471 504 465 623 459 483 +1.5%
EBT margin, % 7.37 (10.27) (9.19) (3.54) 3.87 8.63 9.28 8.55 11.57 8.59 8.80 +1.2 pt
Net income 313 (1,055) (533) (219) 124 903 394 214 542 398 427 +2.7%
Per share, $
Per share, $ Revenue 15.97 14.21 13.09 13.01 13.21 15.59 15.36 15.39 15.80 16.81 19.00 +0.6%
Earnings 0.93 (3.07) (1.54) (0.62) 0.36 2.58 1.11 0.61 1.59 1.25 1.38 +3.3%
Cash flow 1.74 (0.08) (0.08) 0.49 0.82 1.39 1.25 2.46 2.35 1.86 2.31 +0.8%
Capex (0.77) (0.86) (0.44) (0.29) (0.33) (0.31) (0.42) (0.45) (0.60) (0.57) (0.80) (3.2%)
Free cash flow 0.97 (0.95) (0.52) 0.20 0.50 1.08 0.83 2.01 1.76 1.29 1.50 +3.2%
Book value 7.05 3.63 1.93 1.42 1.76 4.48 5.81 6.08 6.65 7.02 6.92 (0.1%)
Shares, m 341 344 345 346 347 350 354 354 340 318 305 (0.8%)
Valuation, ×
Valuation, × P/E 30.62 0.00 0.00 0.00 47.16 8.25 15.97 30.77 11.01 15.62 10.86 15.9
P/S 1.78 1.13 0.76 1.04 1.32 1.38 1.16 1.22 1.12 1.18 0.79 1.2
P/B 4.04 4.41 5.17 9.54 9.94 4.81 3.08 3.09 2.67 2.83 2.17 5.0
EV/Sales 2.05 1.55 1.26 1.55 1.78 1.73 1.47 1.43 1.31 1.50 1.23 1.6
EV/FCF 33.65 (23.24) (31.76) 102.77 47.23 25.04 27.06 10.97 11.80 19.45 15.50 22.3
Cash, $m
Cash, $m Operating cash flow 595 (28) (27) 168 286 485 443 870 801 593 666 0.0%
Capex (262) (297) (152) (101) (113) (108) (148) (160) (203) (182) (232) (4.0%)
Free cash flow 332 (325) (180) 68 173 378 294 709 598 411 435 +2.4%
Balance, $m
Balance, $m Working capital 1,434 1,476 1,097 971 1,141 1,276 1,541 1,780 1,811 1,673 1,164 +1.7%
Net debt 1,457 2,044 2,261 2,291 2,093 1,840 1,564 1,069 946 1,089 1,810 (3.2%)
Shareholders’ equity 2,408 1,247 667 492 610 1,569 2,056 2,149 2,264 2,233 1,998 (0.8%)
Returns, %
Returns, % ROA 4.80 (16.58) (9.30) (4.14) 2.28 15.14 6.27 3.40 8.35 6.03 6.78 +1.2 pt
ROIC 8.41 (6.38) (5.00) 0.83 8.66 13.38 11.66 10.91 13.52 10.28 7.04 +1.9 pt
ROE 12.41 (57.71) (55.73) (37.76) 22.43 82.88 21.73 10.19 24.55 17.68 20.50 +5.3 pt
People
People Employees 32,000 28,000 27,000 24,000 32,100 36,300 33,900 33,000 34,000 31,000 — (0.4%)
Revenue/emp, $m 0.17 0.17 0.17 0.19 0.14 0.15 0.16 0.16 0.16 0.17 — +0.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Mattel, Inc. vs peers in Leisure (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LTH Life Time Group Holdings, Inc. $10.7B 25.2× 27.6× +14.17% (above 0%: growing) +1.13% (above 0%: growing) −193.08% (below 0%: shrinking) 46.89% 17.68% Compare
GOLF Acushnet $4.9B 22.5× 21.3× −1.28% (below 0%: shrinking) +4.56% (above 0%: growing) +39.79% (above 0%: growing) 49.59% 12.37% Compare
PLNT Planet Fitness, Inc. $4.5B 20.4× 18.0× +8.97% (above 0%: growing) +26.09% (above 0%: growing) −62.29% (below 0%: shrinking) 81.84% 28.19% Compare
MAT Mattel, Inc. $4.3B 10.9× 9.7× +10.48% (above 0%: growing) n/m +29.42% (above 0%: growing) 48.17% 0.97%
YETI YETI Holdings, Inc. $3.4B 20.1× 15.1× +8.52% (above 0%: growing) +53.23% (above 0%: growing) −18.84% (below 0%: shrinking) 66.66% 19.33% Compare
OSW OneSpaWorld Holdings Limited $3.1B 36.6× 32.6× +6.97% (above 0%: growing) +16.04% (above 0%: growing) +58.18% (above 0%: growing) 17.97% 10.83% Compare
CALY Callaway Golf Company $2.8B — (loss-making) 25.8× +1.97% (above 0%: growing) +281.82% (above 0%: growing) +101.95% (above 0%: growing) 50.10% 18.75% Compare
PTON Peloton Interactive, Inc. $2.5B 17.2× 16.2× +1.53% (above 0%: growing) +633.33% (above 0%: growing) +112.76% (above 0%: growing) 61.27% 0.00% Compare
PRKS United Parks & Resorts Inc. $1.7B 14.6× 10.4× −1.41% (below 0%: shrinking) −6.85% (below 0%: shrinking) −20.51% (below 0%: shrinking) 47.49% 24.23% Compare
Median of peers $3.3B 20.4× 19.7× +4.47% +21.07% +10.47% 49.85% 18.22%

All 28 Leisure stocks →

Pay and ownership Proxy statement filed 14 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 15.06m 17.64m —
2024 37.80m 31.44m 114.00
2023 18.95m 30.83m 102.00
2022 11.89m (6.69m) 108.00
2021 16.13m 26.71m 102.00

Ownership

Directors and executive officers, together 1.90%
EdgePoint Investment Group Inc.150 Bloor Street West, Suite 16.30%
The Vanguard Group100 Vanguard Blvd. Malvern, Pennsylvania 11.90%
PRIMECAP Management Company177 E. Colorado Blvd., 11.40%
BlackRock, Inc.50 Hudson YardsNew York, New York 10.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Mattel, Inc. (MAT) Latest News

6 Nov

Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · MarketBeat transcript
Impact 3 · · Investing.com
Impact 3 · · StockStory
Impact 3 · · Business Wire

28 Oct

Impact 3 · · Business Wire

22 Oct

Impact 4 · · 24/7 Wall St.

21 Oct

Impact 4 · · Stocktwits
Impact 4 · · Insider Monkey
Impact 3 · · Business Wire

19 Oct

Impact 4 · · cfodive.com
Impact 4 · · Business Wire
Impact 3 · · retaildive.com

13 Oct

Impact 3 · · Zacks

9 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · LA Times

8 Oct

Impact 4 · · Business Wire

7 Oct

Impact 4 · · TheStreet
Impact 4 · · Barchart

6 Oct

Impact 4 · · retaildive.com
Impact 4 · · Proactive Investors
Impact 3 ·
Impact 3 · · StockStory

4 Oct

Impact 4 · · TheStreet

2 Oct

Impact 4 ·
Impact 4 · · qz.com
Impact 4 · · Stocktwits
Impact 4 · · Simply Wall St.

1 Oct

Impact 4 · · Stocktwits
Impact 3 · · Insider Monkey

MAT metrics, ten years each

stockrow.com/MAT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com