Is the business good?
How good a business is MAT?
Mattel, Inc. earns 11% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
11%
Return on invested capital · cost of capital 9.0% · 2.0 points above what the capital costs: growth creates value
- Operating margin
- 9.2%
Operating margin · Leisure median 11% · 12 months to Q1 2026
- Cash conversion
- 0.82×
Cash conversion · 1.22× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- −8.1%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 8.2% |
| FY2021 | 13% |
| FY2022 | 12% |
| FY2023 | 10% |
| FY2024 | 13% |
| FY2025 | 10% |
Details›
- Gross margin12 months to Q1 2026
- 48%
- Operating margin12 months to Q1 2026
- 9.2%
- Net margin12 months to Q1 2026
- 9.3%
- Free cash flow margin
- 7.6%
- R&D as % of revenue
- 4.5%
- Revenue, trailing twelve months
- $5.38B
- Free cash flow, trailing twelve months
- $411M
- Net income, trailing twelve months
- $499M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 11%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.