Hasbro, Inc. (HAS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-15.4%

$100.94

vs $119.37 price

Levered DCF

$89.44

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.96

Safe zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-36.01×	20.11×	-4.76×	39.6×	31.94×	57.62×	25.95×	46.43×
P/B	21.57×	6.71×	6.67×	2.85×	4.53×	4.42×	4.51×	5.84×
P/S	2.47×	1.88×	1.42×	1.38×	2.13×	2.34×	2.86×	2.24×
EV / EBITDA	11.86×	11.9×	-11.63×	9.49×	10.05×	14.07×	13.48×	18.79×
Gross margin	63.8%	64.6%	57.3%	58.9%	60.3%	58.1%	52.9%	51.9%
Operating margin	0.2%	16.7%	-30.8%	7.0%	11.9%	9.2%	13.8%	7.2%
Net margin	-6.9%	9.3%	-29.8%	3.5%	6.7%	4.1%	11.0%	4.8%
Current ratio	1.38×	1.6×	1.13×	1.37×	1.52×	1.6×	5.37×	2.42×
Debt / equity	6.32×	2.95×	3.29×	1.41×	1.34×	1.76×	1.35×	0.97×
Interest coverage	0.07×	4.03×	-8.26×	2.38×	4.25×	2.5×	6.4×	3.64×
Dividend yield	3.4%	5.0%	5.5%	4.8%	2.7%	2.9%	2.5%	3.0%
Payout ratio	-121.7%	101.1%	-26.1%	189.3%	87.4%	167.5%	64.7%	140.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-59.9%	33.3%	-140.2%	7.2%	14.2%	7.7%	17.4%	12.6%
Return on invested capital	0.3%	11.0%	-26.7%	4.3%	7.3%	4.0%	7.5%	6.7%
Return on assets	-5.8%	6.1%	-22.8%	2.2%	4.3%	2.1%	5.9%	4.2%
Free cash flow yield	7.1%	9.8%	7.3%	2.5%	5.0%	6.6%	3.8%	4.9%
Earnings yield	-2.8%	5.0%	-21.0%	2.5%	3.1%	1.7%	3.9%	2.2%
Enterprise value	$14.2B	$10.5B	$10B	$11.6B	$16.8B	$16.5B	$13B	$10.8B
Net debt / EBITDA	2.19×	3.08×	-3.42×	2.87×	1.85×	3.17×	-0.55×	0.91×
Cash conversion cycle (days)	66	64	74	108	81	88	128	113