Mattel, Inc.MAT
NasdaqGS•Consumer Cyclical•Leisure
Mattel, Inc., a play and family entertainment company, designs, manufactures, markets, and sells toys, games, and other products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company offers dolls and accessories, books, content, and lifestyle products for children under the Barbie, American Girl, Disney Princess, Disney Frozen, Monster High, Polly Pocket, and KPop Demon Hunters brands; die-cast vehicles, tracks, playsets, and accessories for kids, adults, and collectors under the Hot Wheels, Hot Wheels Monster Trucks, Hot Wheels RC, Matchbox, and Matchbox, and Cars brands; and infant, toddler, and preschool products comprising toys, content, live events, and other consumer products under the Fisher-Price, Little People, Thomas & Friends, and Power Wheels brands. It also provides action figures, building sets, games, and other products under the Masters of the Universe, Mattel Brick Shop, MEGA, UNO, Jurassic World, Minecraft, WWE, Toy Story, Star Wars, Pictionary, Skip-Bo, Phase 10, and Blokus brands; and licensor partner brands, including Disney Pixar, Microsoft, NBCUniversal, and WWE. The company sells its products to retailers, including omnichannel retailers, discount and free-standing toy stores, chain stores, department stores, and other retail outlets; wholesalers; and directly to consumers through retail spaces, boutique stores, agents and distributors, and its e-commerce platforms and third-party e-commerce channels. Mattel, Inc. was founded in 1945 and is headquartered in El Segundo, California.
Mattel, Inc. (MAT) reported trailing twelve months revenue of $5.38B as of March 2026, a 0.3% decline year-over-year. Quarterly revenue reached $862.17M, reflecting a contraction in sales.
Mattel, Inc. generated $498.93M in TTM net income, with quarterly EBITDA of $-58.72M. The operating margin contracted from -6.4% to -11.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-11.9%) and net margin (7.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from -4.9% a year ago, signaling stronger bottom-line efficiency.
MAT trades at a P/E of 8.2x (below the broader market average) and a P/S of 0.8x. The price-to-book ratio of 1.9x reflects a moderate premium to book value.
The company reported negative free cash flow of $-67.83M, indicating cash consumption over the period. The balance sheet shows $6.33B in total assets with $2.33B in long-term debt against $2.11B in stockholders equity for a debt-to-equity ratio of 1.1. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 7.9%. The business may lack pricing power or face rising costs.'
Consistently high ROE averaging 21.7% suggests a durable competitive advantage and efficient capital allocation.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 31.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF consistently trails net income (avg 0.2x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 1.1 — conservative capital structure with low financial risk.
Revenue has softened, declining in 3 quarters. Monitor for further erosion.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares decreased 13.1% — net buybacks are reducing shares outstanding and boosting per-share value.