Hasbro (HAS) 10-K Summary — Year Ended Dec 29, 2024
Hasbro reported a decrease in annual revenue, while operating income and net income turned positive. The company highlighted a significant impairment from its joint venture investment in the Discovery Family Channel.
Key takeaway
Year ended Dec 29, 2024 · FY2025 10-K
Hasbro reported a decrease in annual revenue, while operating income and net income turned positive. The company highlighted a significant impairment from its joint venture investment in the Discovery Family Channel.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$4.1B
Revenue reported for the fiscal year.
Operating income
$690M
Income from operations reported for the year.
Net income
$385.6M
Net income reported for the year.
Operating cash flow
$847.4M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 26, 2021 | $6.4B | n/a |
| Dec 25, 2022 | $5.9B | -8.8% |
| Dec 31, 2023 | $5B | -14.6% |
| Dec 29, 2024 | $4.1B | -17.3% |
Business overview
The filing describes Hasbro as a play and entertainment company. The Business overview section outlines its operations in toys, games, and related media, but specific product lines or market segments are not detailed in the supplied context.
Financial performance
Revenue declined compared to the prior year. Operating income and net income were both positive, contrasting with a net loss in the previous period. Operating cash flow was reported as over eight hundred million.
Material risks
The filing states a material risk factor section covering multiple unspecified risks. A concrete risk identified is an impairment loss on the joint venture investment in the Discovery Family Channel, which significantly impacted other expense.
Liquidity and capital
The filing discusses partial payments of the 2026 Notes and the issuance of the 2034 Notes. It also notes an investment in short-term treasury bills related to the 2034 Notes that matured in the fourth quarter.
What to watch
Monitor the performance of the Discovery Family Channel joint venture investment for potential further impairments or recoveries.