Key Stats for Hasbro Stock
- Past-Week Performance: -2.5%
- 52-Week Range: $49 to $107
- Current Price: $92.6
What Happened?
Toy and game giant Hasbro (HAS) built a $1.1 billion adjusted operating profit in FY2025, a company record, even as a $1.0 billion goodwill impairment dragged the GAAP bottom line to a $322.4 million net loss, and the stock now trades at $92.60 against a 52-week low of $49.00.
Q4 2025 earnings, reported February 10, delivered $1.5 billion in revenue, up 31% year-over-year, with adjusted operating profit surging 180% to $315 million as Magic: The Gathering, the flagship collectible card game that anchors the high-margin Wizards of the Coast segment, posted 141% revenue growth on the strength of the Avatar: The Last Airbender and Final Fantasy card sets.
Wizards of the Coast, the gaming division responsible for Magic and Dungeons & Dragons that generates nearly half the company’s revenue at a 46% operating margin, grew full-year revenue 44.7% to $2.2 billion and produced over $1.0 billion in segment operating profit, a margin profile that sits well above comparable gaming-focused peers like Bandai Namco.
Moreover, Gina Goetter, Chief Financial Officer and Chief Operating Officer, stated on the Q4 2025 earnings call that “adjusted operating profit increased 36% to $1.1 billion with an adjusted operating margin of 24.2%, up nearly 400 basis points versus last year, driven by favorable mix and cost productivity,” underscoring that margin expansion arrived through business mix rather than one-time items.
Last March 19, Hasbro and logistics partner GXO opened a 600,000-square-foot U.S. distribution center in Midway, Georgia, projecting $8 million in annual productivity savings, a tangible operational step supporting the Consumer Products segment’s targeted recovery to 6%–8% operating margins in 2026.
Hasbro’s forward case rests on three compounding forces: a $1.0 billion Board-authorized share repurchase program, a 2026 entertainment slate anchored by four Disney film tie-ins spanning Toy Story 5 and Avengers: Doomsday, and a 2027 digital gaming launch pipeline including self-published titles EXODUS and WARLOCK, both in development since 2019, against a consolidated adjusted EBITDA guidance range of $1.4–$1.45 billion.
Wall Street’s Take on HAS Stock
The record $1.1 billion adjusted operating profit Hasbro delivered in 2025 directly validates the 2026 guidance range of $1.4–$1.45 billion in adjusted EBITDA, since the Wizards of the Coast segment alone sustains a 46% operating margin that anchors consolidated margin stability.
TIKR estimates project normalized EPS rising from $5.54 in 2025 to $6.26 in 2027 and $6.82 in 2028, a trajectory supported by Wizards’ compounding Magic: The Gathering player base, now over 1 million organized-play participants, and four Disney film tie-ins lifting Consumer Products revenue in 2026.
Thirteen of 16 analysts covering Hasbro carry a buy or outperform rating, with a mean price target of $112.80 implying 21.8% upside from $92.60, reflecting confidence in the normalized earnings recovery that the $322.4 million GAAP net loss, inflated by a non-cash goodwill charge, actively conceals.
The analyst target range spans $95.00 on the low end to $124.00 on the high, where the downside anchors to continued tariff headwinds absorbing an estimated $60 million in 2026 costs, and the upside hinges on Magic set velocity and the four Disney blockbusters converting into Consumer Products point-of-sale.
What Does the Valuation Model Say?
The TIKR mid-case model targets $126.40 per share by December 2030, underwritten by a 3.4% revenue CAGR and net income margins expanding from 13.6% in 2025 to 17.4% by the forecast horizon, driven by Wizards’ royalty-rich Universes Beyond slate and the $150 million in annual cost savings embedded in 2026 guidance.
The market is pricing Hasbro on a GAAP loss year; the $5.54 normalized EPS tells a fundamentally different story.
Free cash flow rising from $0.69 billion in 2025 to $0.96 billion in 2027 supports the $126.40 TIKR target, with the $1.0 billion buyback authorization and the Midway, Georgia distribution center’s projected $8 million in annual savings compounding the return.
The $1 billion Board-authorized share repurchase program, disclosed February 10, signals management’s conviction that the stock at $92.60 understates the earnings power the 24.2% adjusted EBIT margin already confirmed.
A deterioration in Magic: The Gathering set velocity, which drove 60% revenue growth in 2025 and underwrites the entire Wizards margin profile, would break the TIKR model’s 3.4% revenue CAGR and compress the $126.40 target directly.
The EXODUS video game launch, confirmed for H1 2027 and in development since 2019, is the next binary data point; pre-launch marketing spend stepping up through late 2026 will signal whether Hasbro’s self-published digital strategy justifies the elevated development costs already pressuring Wizards’ forward margins.
Should You Invest in Hasbro, Inc.?
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Pull up HAS stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
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