What happened with HAS today?
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Hasbro sells toys, trading cards and games to retailers, distributors and consumers worldwide. Consumer Products is its largest revenue business, with Wizards of the Coast and Digital Gaming close behind; together they account for nearly all revenue. Wizards makes MAGIC: THE GATHERING collectible card games and DUNGEONS & DRAGONS tabletop role-playing games. Most product sales go through large retailers and distributors, although Hasbro also sells directly through platforms such as Hasbro PULSE. Amazon and Walmart are its largest customers and together supply a substantial share of revenue.
Hasbro also lets other companies use its brands in products, digital games and entertainment, collecting royalties tied to sales or usage. For example, Scopely operates MONOPOLY GO!, a meaningful source of licensing revenue. Hasbro develops some digital games itself, including Magic: The Gathering Arena, rather than relying entirely on licensees.
The business depends on keeping players and shoppers interested through new products and releases. Card-set and game launch schedules affect sales, while toy orders lean toward the holiday season and depend on retailers’ inventory decisions. Third-party manufacturers make most products. Hasbro also uses outside brands, including Marvel and Final Fantasy, so parts of its business depend on maintaining those licenses and staying within the rights and territories they permit.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Hasbro’s profits depend heavily on MAGIC: THE GATHERING demand and digital licensing—watch Scopely’s MONOPOLY GO!, which generated $168 million in Hasbro revenue in 2025.
Mattel competes with Hasbro worldwide for toy and game buyers, entertainment licenses and retailer shelf space, selling brands such as Barbie, Hot Wheels and UNO. Its sales of dolls, toy vehicles and games are worth watching for competition facing Hasbro’s retail products.
Jakks Pacific Inc competes directly with Hasbro for major retailers’ purchases of licensed action figures, dolls, toy vehicles and games. Watch its sales to Target and Walmart: those customers accounted for 26.6% and 26.1% of its 2025 net sales, respectively, making them central to its retail competition with Hasbro.
Hasbro pays The Walt Disney Company to use Marvel and Star Wars characters in toys and games, so demand for those products depends in part on Disney’s franchises. Watch the timing and success of related films and shows, which critically affect consumer interest in Hasbro’s licensed products.
Funko, Inc. sells licensed pop-culture figures and collectibles that compete with Hasbro’s toys and collectibles for fans’ spending. Its Pop! figure sales offer a concrete view of that competition for collectors’ purchases.
Hasbro, Inc. earningsThis company
Hasbro’s report will show whether its toy and game products are bringing in operating profit, and how much Wizards and Digital Gaming contributes.
Read Consumer Products revenue alongside its operating profit, then compare both with Wizards and Digital Gaming. Operating profit is what remains after operating costs; if both Consumer Products figures rise, toy and game sales are contributing more profit, while weak figures alongside stronger Wizards results mean Hasbro’s earnings rely more on its games business.
Mattel, Inc. earningsMAT
Mattel’s toy and game sales will show how demand is holding up in categories where it competes with Hasbro for buyers and shelf space.
Compare Mattel’s toy and game sales with Hasbro’s Consumer Products revenue. Strength at both companies points more toward firmer category demand; Mattel strength alongside Hasbro weakness raises the possibility that Mattel is winning buyers or shelf space, but the reports alone cannot prove that one company took sales from the other.
The Walt Disney Company earningsDIS
Disney’s film and show performance and release timing offer a read on whether interest in Marvel and Star Wars could support demand for Hasbro’s licensed toys and games.
Watch Disney’s account of how its related films and shows are performing and when they are released. Strong audience response and timely releases can support interest in Marvel and Star Wars products; weak response or delays raise the risk of softer demand, but Disney’s report does not measure Hasbro’s toy sales or royalty income.
Retail Sales MoM (Oct)
Retail sales track how much consumers spend at stores and online; stronger demand can lead retailers and ecommerce sellers to order more Hasbro toys and games, while weaker demand can reduce those orders and Hasbro’s product revenue.
If retail sales strengthen, consumers are spending more, which may support retailer orders for Hasbro toys and games; if they weaken, retailers may order less, putting product revenue at risk.
