Mattel, Inc. (MAT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MAT SEC filings page.
Mattel, Inc. (MAT) reported $5.5B in revenue over the twelve months to Jun 30, 2026, up 2.9% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Mattel’s revenue is flat, but profitability and cash generation swing materially while share repurchases absorb cash.
Across FY2023–FY2025, revenue remained about$5.4B while operating margin peaked in FY2024 before returning near its FY2023 level, indicating that the earnings improvement was not sustained through sales growth. Operating cash flow then fell from$870M in FY2023 to$593M in FY2025, so the FY2024 rebound did not translate into durable cash conversion.
FY2024 gross margin reached
FY2025 buybacks of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Mattel, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Mattel, Inc. has an operating margin of 10.2%, meaning the company retains $10 of operating profit per $100 of revenue. This strong profitability earns a score of 75/100, reflecting efficient cost management and pricing power. This is down from 12.9% the prior year.
Mattel, Inc.'s revenue declined 0.6% year-over-year, from $5.4B to $5.3B. This contraction results in a growth score of 28/100.
Mattel, Inc. has a moderate D/E ratio of 1.04. This balance of debt and equity financing earns a leverage score of 37/100.
Mattel, Inc.'s current ratio of 2.15 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.
Not available for Mattel, Inc., and counted as zero in the overall score.
Mattel, Inc. earns a strong 17.8% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 77/100. This is down from 23.9% the prior year.
Mattel, Inc. scores 2.82, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Mattel, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Mattel, Inc. generates $1.49 in operating cash flow ($593.3M OCF vs $398.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Mattel, Inc. earns $4.60 in operating income for every $1 of interest expense ($546.4M vs $118.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Mattel, Inc. generated $1.1B in revenue in Q2 2026. This represents an increase of 10.5% from the same quarter a year earlier. Against the prior quarter it is up 30.5%.
Mattel, Inc.'s EBITDA was $59.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 50.8% from the same quarter a year earlier. Against the prior quarter it is up 201.5%.
Mattel, Inc. reported -$18.2M in net income in Q2 2026. This represents a decrease of 134.1% from the same quarter a year earlier. Against the prior quarter it is down 129.8%.
Mattel, Inc. earned -$0.06 per diluted share (EPS) in Q2 2026. This represents a decrease of 137.5% from the same quarter a year earlier. Against the prior quarter it is down 130.0%.
Cash & Balance Sheet
Mattel, Inc. held $523.9M in cash against $2.3B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Mattel, Inc.'s gross margin was 48.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.3 percentage points.
Mattel, Inc.'s operating margin was 1.0% in Q2 2026, reflecting core business profitability. This is down 6.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.9 percentage points.
Mattel, Inc.'s net profit margin was -1.6% in Q2 2026, showing the share of revenue converted to profit. This is down 6.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.7 percentage points.
Mattel, Inc.'s ROE was -0.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 3.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.8 percentage points.
Capital Allocation
Mattel, Inc. invested $70.4M in research and development in Q2 2026. This represents an increase of 42.5% from the same quarter a year earlier. Against the prior quarter it is up 17.4%.
Mattel, Inc. spent $100.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 50.0%.
Not reported for Q2 2026.
MAT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+10.5% | $862.2M+4.3% | $1.8B+7.3% | $1.7B-5.9% | $1.0B-5.7% | $826.6M+2.1% | $1.6B+1.6% | $1.8B-3.9% |
| Cost of Revenue | $583.2M+16.7% | $475.4M+13.6% | $956.1M+17.9% | $867.7M+0.3% | $499.6M-9.0% | $418.5M-0.5% | $810.9M-2.4% | $864.9M-8.1% |
| Gross Profit | $542.1M+4.5% | $386.8M-5.2% | $810.4M-3.0% | $868.3M-11.3% | $519.0M-2.2% | $408.1M+4.9% | $835.5M+5.7% | $979.0M+0.1% |
| R&D Expenses | $70.4M+42.5% | $59.9M+28.1% | $76.7M+47.0% | $54.5M+16.4% | $49.4M+4.1% | $46.8M-1.7% | $52.2M+3.8% | $46.8M-5.9% |
| Operating Income | $10.9M-86.1% | -$102.7M-93.8% | $141.1M-10.9% | $379.8M-22.2% | $78.5M-5.7% | -$53.0M-49.2% | $158.3M+13.0% | $488.3M+3.1% |
| EBITDA | $59.6M-50.8% | -$58.7M-424.5% | $183.1M-8.9% | $421.4M-20.4% | $121.1M-3.3% | -$11.2M-264.2% | $201.0M+8.8% | $529.2M+1.9% |
| Interest Expense | $31.8M+8.2% | $31.1M+6.3% | $30.7M+4.5% | $29.4M+0.2% | $29.4M-2.1% | $29.2M-2.7% | $29.4M-6.2% | $29.4M-4.4% |
| Income Tax | $228K-98.6% | -$32.5M-6.2% | $17.2M+58.6% | $86.9M-18.3% | $16.2M+76.3% | -$30.6M-47.0% | $10.9M+139.8% | $106.3M-65.6% |
| Net Income | -$18.2M-134.1% | $61.0M+251.4% | $106.6M-24.4% | $278.4M-25.2% | $53.4M-6.2% | -$40.3M-42.6% | $141.0M-4.0% | $372.4M+154.5% |
| EPS (Basic) | -$0.06-137.5% | $0.21+275.0% | $0.35-16.7% | $0.88-20.0% | $0.16-5.9% | -$0.12-50.0% | $0.420.0% | $1.10+168.3% |
| EPS (Diluted) | -$0.06-137.5% | $0.20+266.7% | $0.34-19.0% | $0.88-19.3% | $0.16-5.9% | -$0.12-50.0% | $0.42+2.4% | $1.09+165.9% |
| Diluted Shares (Avg) | 289M-11.2% | 301M-8.1% | N/A | 318M-6.8% | 326M-5.5% | 327M-5.6% | N/A | 341M-4.5% |
Not reported in any period shown, so not listed: SG&A Expenses.
MAT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.4B+1.7% | $6.3B+2.0% | $6.6B+1.5% | $6.6B+1.2% | $6.2B+5.8% | $6.2B+2.3% | $6.5B+1.7% | $6.5B+4.3% |
| Current Assets | $2.5B-12.3% | $2.5B-10.6% | $3.1B+0.1% | $3.2B-0.8% | $2.8B+7.5% | $2.8B+1.9% | $3.1B+0.1% | $3.2B+4.5% |
| Cash & Equivalents | $523.9M-39.8% | $866.0M-30.4% | $1.2B-10.4% | $691.9M-4.4% | $870.5M+20.5% | $1.2B+10.0% | $1.4B+10.0% | $723.5M+58.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $829.8M-4.4% | $676.9M+2.8% | $563.1M+12.2% | $826.6M+12.1% | $867.9M+11.7% | $658.4M-1.6% | $501.7M-12.2% | $737.2M-6.7% |
| Accounts Receivable | $820.3M+3.5% | $686.7M+8.4% | $1.1B+9.4% | $1.4B-5.9% | $792.5M-5.6% | $633.3M-5.9% | $1.0B-7.3% | $1.5B-6.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $1.6B+13.7% | $1.6B+14.4% | $1.4B+0.6% | $1.4B+0.1% | $1.4B+0.6% | $1.4B+0.1% | $1.4B-0.2% | $1.4B+0.6% |
| Total Liabilities | $4.4B+6.9% | $4.2B+3.6% | $4.4B+3.0% | $4.3B+3.1% | $4.1B+3.7% | $4.1B+0.9% | $4.3B-0.2% | $4.2B-0.2% |
| Current Liabilities | $1.3B-25.3% | $1.2B+5.6% | $1.5B+10.8% | $2.0B+52.1% | $1.7B+70.7% | $1.1B+4.3% | $1.3B-2.0% | $1.3B-0.5% |
| Non-Current Liabilities | $3.1B+30.5% | $3.0B+2.8% | $2.9B-0.5% | $2.4B-18.8% | $2.4B-19.5% | $2.9B-0.4% | $3.0B+0.7% | $2.9B-0.1% |
| Long-Term Debt | $2.3B+34.3% | $2.3B-0.1% | $2.3B-0.1% | $1.7B-25.5% | $1.7B-25.5% | $2.3B+0.2% | $2.3B+0.2% | $2.3B+0.2% |
| Total Equity | $2.0B-8.0% | $2.1B-1.1% | $2.2B-1.4% | $2.3B-2.2% | $2.2B+10.1% | $2.1B+5.1% | $2.3B+5.3% | $2.3B+13.6% |
| Retained Earnings | $4.0B+11.8% | $4.1B+14.0% | $4.0B+11.0% | $3.9B+12.5% | $3.6B+17.0% | $3.6B+17.5% | $3.6B+17.7% | $3.5B+18.8% |
MAT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$179.2M+40.3% | -$22.9M-192.5% | $796.6M-7.6% | $72.0M-53.8% | -$300.1M-18.7% | $24.8M-30.1% | $862.1M-9.2% | $155.8M-36.6% |
| Depreciation & Amortization | $48.7M+14.4% | $44.0M+5.2% | $42.0M-1.7% | $41.6M+1.7% | $42.6M+1.5% | $41.8M-1.3% | $42.8M-4.4% | $40.9M-10.3% |
| Stock-Based Compensation | $19.9M+6.4% | $13.0M-34.8% | N/A | $22.3M+13.4% | $18.7M-5.6% | $19.9M+11.0% | N/A | $19.7M+27.1% |
| Investing Cash Flow | -$51.6M-122.1% | -$143.6M-358.5% | -$57.4M-53.9% | -$42.9M+45.7% | -$23.3M+47.5% | -$31.3M-10.2% | -$37.3M+23.1% | -$79.0M-147.6% |
| Financing Cash Flow | -$114.8M-89.8% | -$208.3M-28.6% | -$194.3M-43.8% | -$203.9M-174.7% | -$60.5M+44.4% | -$161.9M-23.3% | -$135.1M-26.1% | -$74.2M-54.4% |
| Share Buybacks | $100.0M+100.0% | $200.0M+25.0% | $187.5M+42.4% | $202.5M+196.4% | $50.0M-50.0% | $160.0M+60.0% | $131.7M+41.4% | $68.3M+13.9% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
MAT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.2%-2.8pp | 44.9%-4.5pp | 45.9%-4.9pp | 50.0%-3.1pp | 50.9%+1.8pp | 49.4%+1.3pp | 50.7%+2.0pp | 53.1%+2.1pp |
| Operating Margin | 1.0%-6.7pp | -11.9%-5.5pp | 8.0%-1.6pp | 21.9%-4.6pp | 7.7%0.0pp | -6.4%-2.0pp | 9.6%+1.0pp | 26.5%+1.8pp |
| Net Margin | -1.6%-6.9pp | 7.1%+12.0pp | 6.0%-2.5pp | 16.0%-4.2pp | 5.2%0.0pp | -4.9%-1.4pp | 8.6%-0.5pp | 20.2%+12.6pp |
| Return on Equity | -0.9%-3.4pp | 2.9%+4.8pp | 4.8%-1.5pp | 12.3%-3.8pp | 2.5%-0.4pp | -1.9%-0.5pp | 6.2%-0.6pp | 16.1%+8.9pp |
| Return on Assets | -0.3%-1.1pp | 1.0%+1.6pp | 1.6%-0.6pp | 4.2%-1.5pp | 0.9%-0.1pp | -0.7%-0.2pp | 2.2%-0.1pp | 5.7%+3.4pp |
| Current Ratio | 1.90+0.3x | 2.06-0.4x | 2.15-0.2x | 1.60-0.9x | 1.62-1.0x | 2.43-0.1x | 2.38+0.1x | 2.45+0.1x |
| Debt-to-Equity | 1.17+0.4x | 1.110.0x | 1.040.0x | 0.77-0.2x | 0.80-0.4x | 1.10-0.1x | 1.03-0.1x | 1.01-0.1x |
| Asset Turnover | 0.180.0x | 0.140.0x | 0.270.0x | 0.260.0x | 0.160.0x | 0.130.0x | 0.250.0x | 0.280.0x |
Not reported in any period shown, so not listed: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Mattel, Inc. MAT | FY2025 | $5.3B | $398.0M | 7.4% | $4.4B | 47/100 |
| Acushnet Holdings Corp. GOLF | FY2025 | $2.6B | $188.5M | 7.4% | $4.9B | 60/100 |
| Life Time Group Holdings, Inc. LTH | FY2025 | $3.0B | $373.7M | 12.5% | $9.2B | 39/100 |
| Planet Fitness, Inc. PLNT | FY2025 | $1.3B | $219.1M | 16.6% | $3.2B | 67/100 |
| YETI Holdings, Inc. YETI | FY2025 | $1.9B | $165.4M | 8.8% | $3.0B | 73/100 |
| Peloton Interactive, Inc. PTON | FY2026 | $2.4B | $63.2M | 2.6% | $2.2B | 47/100 |
Where Mattel, Inc. Ranks
Frequently Asked Questions
What is Mattel, Inc.'s annual revenue?
Mattel, Inc. (MAT) reported $5.3B in total revenue for fiscal year 2025. This represents a -0.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mattel, Inc.'s revenue growing?
Mattel, Inc. (MAT) revenue declined by 0.6% year-over-year, from $5.4B to $5.3B in fiscal year 2025.
Is Mattel, Inc. profitable?
Yes, Mattel, Inc. (MAT) reported a net income of $398.0M in fiscal year 2025, with a net profit margin of 7.4%.
What is Mattel, Inc.'s EBITDA?
Mattel, Inc. (MAT) had EBITDA of $714.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mattel, Inc. have?
As of fiscal year 2025, Mattel, Inc. (MAT) had $1.2B in cash and equivalents against $2.3B in long-term debt.
What is Mattel, Inc.'s gross margin?
Mattel, Inc. (MAT) had a gross margin of 48.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mattel, Inc.'s operating margin?
Mattel, Inc. (MAT) had an operating margin of 10.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mattel, Inc.'s net profit margin?
Mattel, Inc. (MAT) had a net profit margin of 7.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Mattel, Inc.'s return on equity (ROE)?
Mattel, Inc. (MAT) has a return on equity of 17.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mattel, Inc.'s operating cash flow?
Mattel, Inc. (MAT) generated $593.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mattel, Inc.'s total assets?
Mattel, Inc. (MAT) had $6.6B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Mattel, Inc. spend on research and development?
Mattel, Inc. (MAT) invested $227.4M in research and development during fiscal year 2025.
What is Mattel, Inc.'s current ratio?
Mattel, Inc. (MAT) had a current ratio of 2.15 as of fiscal year 2025, which is generally considered healthy.
What is Mattel, Inc.'s debt-to-equity ratio?
Mattel, Inc. (MAT) had a debt-to-equity ratio of 1.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mattel, Inc.'s return on assets (ROA)?
Mattel, Inc. (MAT) had a return on assets of 6.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mattel, Inc.'s P/E ratio?
Mattel, Inc. (MAT) trades at 10.2x earnings, its market capitalization divided by net income of $427.8M net income, trailing 12 months to June 30, 2026. The market capitalization is $4.4B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Mattel, Inc.'s price-to-sales ratio?
Mattel, Inc. (MAT) trades at 0.8x sales, its market capitalization divided by revenue of $5.5B revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.4B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Mattel, Inc.'s Altman Z-Score?
Mattel, Inc. (MAT) has an Altman Z-Score of 2.82, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Mattel, Inc.'s Piotroski F-Score?
Mattel, Inc. (MAT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mattel, Inc.'s earnings high quality?
Mattel, Inc. (MAT) has an earnings quality ratio of 1.49x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mattel, Inc. cover its interest payments?
Mattel, Inc. (MAT) has an interest coverage ratio of 4.60x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mattel, Inc.?
Mattel, Inc. (MAT) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.