# Hasbro (HAS) Forecast Calculator

Interactive five-year financial forecast and DCF for Hasbro. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/hasbro/forecast
- Industry: Consumer
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 4720200000 | 519500000 | 832900000 | 520500000 |
| 2022 | 5465400000 | 850500000 | 766800000 | 222500000 |
| 2023 | 6420400000 | 685200000 | 1043400000 | 428700000 |
| 2024 | 5856700000 | 244700000 | 640200000 | 203500000 |
| 2025 | 5003300000 | 590100000 | -1328100000 | -1489300000 |

## Frequently asked questions

### How does Hasbro generate revenue across its different business segments?

Hasbro generates revenue primarily through its Consumer Products segment, which includes traditional toys, and its high-margin Wizards of the Coast and Digital Gaming segment, encompassing tabletop games and digital experiences. A smaller portion of revenue comes from its Entertainment segment, leveraging its intellectual property across various mediums.

### What are the primary drivers of Hasbro's revenue growth?

Hasbro's revenue growth is driven by its diverse portfolio of intellectual property, particularly through its asset-light digital licensing and premium tabletop cards in the Wizards of the Coast segment. Growth also comes from new toy lines and distribution in its Consumer Products segment, alongside strategic investments in internal video game studio development.

### Why is the Wizards of the Coast segment so important to Hasbro's profitability?

The Wizards of the Coast and Digital Gaming segment is crucial to Hasbro's profitability because it accounts for over 90% of the company's operating profit, despite representing only about 46% of total revenue. This segment operates with a highly asset-light model, driven by high-margin digital licensing and premium tabletop cards like Magic: The Gathering.

### What are the key capital expenditure and working capital assumptions in Hasbro's financial model?

The financial model assumes Hasbro's capital expenditures as a percentage of revenue typically run between 2.5% and 3.5%, focused on maintenance, tooling, and capitalized software development. Net working capital is modeled to be positive, requiring cash absorption, with Days Sales Outstanding between 65-75 days and Days Inventory Outstanding between 90-110 days.

### What is the main purpose of the Hasbro financial model and its valuation approach?

The Hasbro financial model aims to provide a comprehensive sum-of-the-parts equity valuation and cash flow forecast. Its primary purpose is to help an equity research analyst determine if the highly profitable Wizards of the Coast segment is adequately priced into the consolidated share price.

### Can I download a financial model for Hasbro, and what is its forecast horizon?

Yes, a downloadable Excel financial model for Hasbro is available. This general corporate model provides a forecast horizon spanning from Fiscal Year 2026 through Fiscal Year 2030.