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Mattel Inc key statistics and ratios

In fiscal 2025, Mattel Inc had return on equity of 17.7%, an operating margin of 10.2%, debt equal to 105.2% of equity and a current ratio of 2.15. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin50.0%50.5%50.2%53.1%53.6%49.8%49.2%46.7%37.4%39.8%43.9%48.9%48.1%45.7%47.5%50.8%48.7%47.5%
Operating margin13.5%15.4%16.6%15.9%18.0%10.9%9.5%9.5%−6.9%−5.2%0.8%8.2%13.4%12.4%10.3%12.9%10.2%7.8%
Net margin9.7%11.7%12.3%12.1%13.9%8.3%6.5%5.7%−21.6%−11.8%−4.9%2.7%16.5%7.2%3.9%10.1%7.4%7.8%
Free-cash-flow margin16.6%8.1%9.2%18.1%8.9%12.9%10.9%8.3%−3.2%−2.3%2.6%4.9%7.5%6.2%14.4%12.4%9.0%9.3%
Return on equity20.9%26.5%29.3%27.4%28.6%16.1%13.2%12.4%−57.5%−54.8%−36.5%22.1%82.9%21.7%10.2%24.6%17.7%20.2%
Return on assets11.1%13.4%13.9%12.7%13.9%7.6%5.6%4.8%−16.6%−9.3%−4.1%2.3%15.1%6.3%3.4%8.3%6.0%6.6%
Asset turnover1.141.151.131.051.000.920.860.840.770.790.850.840.920.860.860.830.810.84
Current ratio2.412.393.312.073.232.931.821.951.911.881.761.841.802.302.332.382.151.90
Debt to equity29.7%45.7%59.7%49.2%49.3%71.2%79.9%96.6%250.6%420.9%570.2%475.3%165.7%114.3%109.3%103.8%105.2%116.8%
Interest cover (operating income ÷ interest)10.2x13.9x13.8x11.5x14.9x8.2x6.3x5.5xn/mn/m0.2x1.9x2.9x5.1x4.5x5.8x4.6x3.5x
Effective tax rate19.9%19.1%20.8%17.8%17.8%15.0%20.4%22.2%———36.9%—26.9%57.9%17.0%19.5%14.9%
R&D as % of revenue3.2%3.0%2.9%3.0%3.1%3.5%3.8%3.9%4.6%4.5%4.4%4.1%3.5%3.6%3.6%3.6%4.3%4.8%
SG&A as % of revenue25.3%24.0%22.4%———————————————
Capital spending as % of revenue0.8%0.9%1.4%1.7%1.9%1.9%2.0%2.6%2.6%1.7%1.1%1.3%1.4%2.0%1.6%2.5%2.1%2.8%
Free cash flow ÷ net income170.5%69.0%74.9%150.0%63.5%155.4%168.6%145.2%———183.1%45.2%85.4%365.7%122.8%121.4%119.9%
Dividends ÷ net income51.3%42.5%41.2%54.5%54.7%103.2%139.4%165.7%——————————
Dividends and buybacks ÷ free cash flow30.1%156.1%145.9%42.1%171.8%89.2%82.7%114.1%——0.0%—0.0%0.0%25.9%60.1%124.3%134.6%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $6.4bn
Short-term assets $2.5bnLonger-term assets $3.9bn
What it owes, and who funded it · $3.3bn
Short-term liabilities $1.3bnShareholders' equity $2.0bn
  • Short-term assets cover short-term liabilities $2.5bn of assets due within a year against $1.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $524m of cash against $2.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 117% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 164% to 117% over five years.
  • A year's operating cash flow covers at least 20% of debt $666m of operating cash flow against $2.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $429m against $123m of interest.

From Mattel Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

62 /100

Moderate moat

How hard Mattel's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 23.6% of total assets over 8 years.

  • Pricing power 13 / 20

    Gross margin has been a median 46.7%, moving by 4.6 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 8.0%; its worst year was -13.3%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 6.2% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 12.6% over five years; stock-based pay has been a median 1.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (67 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BC vs MATHAS vs MATMAT vs PII

More: Leisure Products stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Mattel Inc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Mattel Inc.