MATTEL INC /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MATTEL INC /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	5,457	4,882	4,515	4,505	4,588	5,458	5,435	5,441	5,380	5,348
Cost of revenue	2,902	3,061	2,716	2,527	2,345	2,831	2,953	2,858	2,645	2,742
Gross profit	2,547	1,825	1,799	1,977	2,243	2,627	2,481	2,584	2,734	2,606
Research and development	215	225	205	197	189	189	195	199	194	227
Selling and marketing	635	642	524	550	526	546	534	525	507	522
Operating income	520	-336	-234	37.1	375	730	676	562	694	546
Interest expense	95.1	105	182	201	198	254	133	124	119	119
Interest income	9.14	7.78	6.46	6.17	3.95	3.5	9.4	25.2	51.5	45
Other non-operating income	-32	-68.1	-5.11	-1.88	-2.69	-8.36	-47.8	2.29	-4.48	-13.3
Pre-tax income	402	-501	-415	-160	178	471	504	465	623	459
Income tax	89.1	553	116	58.3	65.5	-420	136	269	106	89.8
Net income	313	-1,055	-533	-219	124	903	394	214	542	398
EBITDA	782	-60.9	37.6	282	568	914	858	739	862	714
EPS, basic	0.91	-3.07	-1.55	-0.63	0.36	2.58	1.11	0.61	1.59	1.25
EPS, diluted	0.91	-3.07	-1.55	-0.63	0.35	2.53	1.10	0.60	1.58	1.24
Shares, basic (weighted)	341	344	345	346	347	350	354	354	340	318
Shares, diluted (weighted)	344	344	345	346	349	357	360	357	343	322
Dividend per share	1.52	0.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	870	1,079	594	630	762	731	761	1,261	1,388	1,243
Receivables	1,115	1,125	970	936	1,034	1,073	860	1,082	1,003	1,098
Inventory	614	601	543	496	528	777	894	572	502	563
Other current assets	342	296	240	186	172	293	214	208	234	227
Total current assets	2,940	3,100	2,347	2,248	2,497	2,875	2,729	3,122	3,127	3,131
Property, plant and equipment	774	785	658	550	474	456	469	466	516	590
Lease right-of-use assets				303	292	325	319	313	326	320
Goodwill	1,388	1,397	1,386	1,391	1,394	1,390	1,379	1,385	1,382	1,390
Intangible assets	660	639	588	553	518	477	425	393	361	337
Other non-current assets	1,392	946	847	833	288	344	385	458	536	560
Total assets	6,494	6,228	5,238	5,325	5,535	6,394	6,178	6,436	6,544	6,640
Accounts payable	665	572	538	459	495	579	471	442	399	555
Accrued liabilities	629	792	694	770	832	992	679	866	879	873
Deferred revenue							46.8	56.9		56.3
Short-term debt	0	250	0	0	0	0	0	0	0	0
Total current liabilities	1,506	1,624	1,250	1,277	1,355	1,598	1,188	1,342	1,316	1,458
Long-term debt	2,134	2,873	2,852	2,847	2,855	2,571	2,326	2,330	2,334	2,332
Lease liabilities				271	249	284	271	260	278	268
Other non-current liabilities	446	484	470	439	465	372	337	355	352	349
Total liabilities	4,086	4,971	4,549	4,817	4,925	4,825	4,121	4,287	4,280	4,407
Total debt	2,134	3,123	2,852	2,847	2,855	2,571	2,326	2,330	2,334	2,332
Paid-in capital	1,791	1,808	1,813	1,826	1,843	1,832	1,808	1,775	1,780	1,788
Retained earnings	3,536	2,169	1,627	1,413	1,554	2,457	2,848	3,062	3,604	4,001
Treasury stock	-2,427	-2,390	-2,355	-2,319	-2,283	-2,220	-2,130	-2,224	-2,567	-3,107
Other comprehensive income	-943	-782	-859	-869	-945	-941	-911	-905	-994	-891
Shareholders' equity	2,408	1,257	689	509	610	1,569	2,056	2,149	2,264	2,233
Total equity	2,408	1,257	689	509	610	1,569	2,056	2,149	2,264	2,233
Total liabilities and equity	6,494	6,228	5,238	5,325	5,535	6,394	6,178	6,436	6,544	6,640

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	313	-1,055	-533	-219	124	903	394	214	542	398
Depreciation and amortization	262	275	272	245	193	184	182	177	168	168
Stock-based compensation	54	67.1	48.9	56	60.2	60.1	69.1	83.3	79.4	79.7
Deferred income tax	-1.35	-18	13.3	-6.04	-5.3	56.7	69.5	176	-21	-19.4
Change in receivables	-29.7	-3.48	72.4	41	-92.3	-85.6	198	-198	21.4	-60.5
Change in inventory	-68.7	-91.6	-53.8	-22.7	-42.2	-331	-204	261	-24.5	-56.6
Change in payables	13.2	93.8	-47.4	-54.7	17.4	209	-342	136	49.6	65.4
Cash from operations	595	-27.6	-27.3	168	286	485	443	870	801	593
Capital expenditures	-140	-129	-74.7
Acquisitions	-33.2	0	0
Cash from investing	-312	-236	-161	-102	-132	-105	-144	-142	-189	-155
Debt issued	350	989	472	588	0	1,185	0	0	0	592
Debt repaid	-300	0	-750	-608	0	-1,576	-250	0	0	-600
Stock issued	34.1	1.78	0	0	0.06	12.1	27.8	26.7	6.35	9.8
Share buybacks	0					0	0	-203	-400	-600
Dividends paid	-519	-312	0	0
Cash from financing	-281	458	-285	-33.1	-5.84	-402	-261	-227	-449	-621
Exchange rate effect	-24.4	14.5	-11.5	1.88	-15.6	-9.11	-8.11	-0.68	-35.6	37.3
Net change in cash	-23.3	210	-485	35.5	132	-30.8	29.9	500	127	-145
Free cash flow	454	-157	-102
Interest paid	84.8	103	174	191	191	210	129	118	114	116
Income taxes paid	113	118	99.6	72.6	99.5	93.1	89.6	93.6	100	108

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $13.29 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	47.5%	Gross profit / revenue.
Operating margin	7.8%	Operating income / revenue.
EBITDA margin	11.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.8%	Pre-tax income / revenue.
Net margin	7.8%	Net income / revenue.
Operating cash flow margin	12.1%	Cash from operations / revenue.
Effective tax rate	14.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	21.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.7%	Net income / average total assets.
Return on invested capital (ROIC)	9.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	4.8%	Research and development expense / revenue.
Stock-based pay / revenue	1.3%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	3.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-0.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-21.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-6.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	7.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-17.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-5.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	4.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-26.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	0.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	26.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-21.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	4.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	28.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-25.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	10.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	15.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	29.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	1.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-6.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-3.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.90x	Current assets / current liabilities.
Quick ratio	1.04x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.41x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.17x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	36.7%	Total debt / total assets.
Liabilities / assets	68.6%	Total liabilities / total assets.
Net debt	$1.81B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.99x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.49x	Operating income / interest expense.
Working capital	$1.16B	Current assets - current liabilities.
Goodwill and intangibles / assets	32.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$56.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.86x	Revenue / average total assets.
Fixed asset turnover	8.64x	Revenue / average property, plant and equipment.
Inventory turnover	3.47x	Cost of revenue / average inventory.
Days inventory	105 days	365 x average inventory / cost of revenue.
Receivables turnover	6.69x	Revenue / average receivables.
Days sales outstanding	55 days	365 x average receivables / revenue.
Days payables	57 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	103 days	Days inventory + days sales outstanding - days payables.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.48	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$19.00	Revenue / diluted weighted shares.
Operating cash flow per share	$2.31	Cash from operations / diluted weighted shares.
Book value per share	$6.92	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.19	Tangible book value / shares outstanding.
Cash per share	$1.81	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.80B	Share price x shares outstanding.
Enterprise value	$5.61B	Market cap + total debt - cash - short-term investments.
P/E	8.88x	Market cap / net income. Only when net income is positive.
P/S	0.69x	Market cap / revenue.
P/B	1.90x	Market cap / shareholders' equity. Only when equity is positive.
P/OCF	5.70x	Market cap / cash from operations, when positive.
EV/Sales	1.02x	Enterprise value / revenue.
EV/EBIT	13.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.26x	Enterprise value / EBITDA, when both are positive.
Earnings yield	11.3%	Net income / market cap (the inverse of P/E).
Shareholder yield	18.2%	(Dividends paid + share buybacks) / market cap.
PEG	2.18x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was MATTEL INC /DE/'s revenue in fiscal 2025?

MATTEL INC /DE/ reported revenue of $5.35B for fiscal 2025, 0.6% lower than the year before.

Was MATTEL INC /DE/ profitable in fiscal 2025?

Yes. Net income was $397.6M, a net margin of 7.4%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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