ZYBERNO
Stock Report
Updated Aug 29, 2026

HASBRO, INC. (HAS)

NASDAQ

$94.87
Hasbro Inc. is an American multinational toy and board game company headquartered in Pawtucket, Rhode Island. The company designs, develops, manufactures, and markets toys, games, and consumer products under its own brands (Transformers, G.I. Joe, My Little Pony, Nerf, Play-Doh, Monopoly, Scrabble) and under license (Marvel, Star Wars, Disney), targeting children and families globally through retail channels and digital gaming.

Professional Investment Analysis

ZYBERNO SCORE
Is it a great business? Is it getting better?
60.0/100
AVERAGE BUSINESS
HASBRO, INC. (HAS) scores 60/100 — decent metrics but limited evidence of durable competitive advantage.
📊 How is the Zyberno Score calculated? +
VALUATION SIGNAL
MARGIN OF SAFETY
Is this stock cheap or expensive relative to what the business has historically generated for owners?
+57.7%
Undervalued
Is the market underestimating or overestimating what this business is capable of going forward?
-8.3%
Market Overestimates
↑ UNDER
+50%
Brina Gap
-50%
↓ OVER
← OVERVALUED
-100%
Margin of Safety
UNDERVALUED →
+100%
UNDERESTIMATED
GROWTH
DOUBLE
DISCOUNT
EXPENSIVE
HYPE
VALUE
TRAP
0,0
MoS +57.7%  ·  Gap -8.3%

Two independent signals. One tells you if the stock is cheap relative to what the business has historically generated for owners — the Margin of Safety. The other tells you if the market is underestimating what the business is capable of going forward — the Brina Gap.

They are calculated from completely different data sources and answer completely different questions. The Margin of Safety reads the past. The Brina Gap reads the present economics and compares them against what the current stock price is assuming about the future.

When both point in the same direction simultaneously — DOUBLE DISCOUNT — the probability of genuine mispricing is high. The market is wrong on two independent dimensions at once, which is rare and significant.

The most dangerous scenario is not an overvalued stock — those are easy to avoid. It is a VALUE TRAP: a stock that appears cheap historically but where the market is already pricing in stronger growth than the business fundamentals support. Without the Brina Gap signal this looks identical to a genuine opportunity. The matrix separates them instantly.

The Brina Gap is the more powerful of the two signals. Most investors and analytical tools focus on valuation alone — whether a stock is cheap relative to earnings. Far fewer systematically compare what the business economics structurally support against what the stock price is actually assuming. That gap between fundamental growth potential and market expectations is where the most reliable mispricings live, and where this matrix earns its value.

Use this as your first filter. A stock in DOUBLE DISCOUNT territory is worth investigating. Everything else requires either more caution or a specific reason to act.

VALUE TRAP SIGNAL
HASBRO, INC. (HAS) appears cheap historically (Margin of Safety +57.7%) but the Brina Gap (-8.3%) shows the market already prices in stronger growth than fundamentals support. Verify before acting.
🎯 Expected Annual Return
42.5%
Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)
-12.9%
Brina Gap convergence — your return if the market corrects the growth mispricing the Gap measures
5.9%
Yield + growth — what the business alone earns you, even if the market never re-rates
💰 How is Margin of Safety calculated? +
📈 How is Brina Gap calculated? +

Critical Financial Health Indicators

Return on Equity (Profitability):POOR (6.1%)
Debt-to-Equity (Solvency Risk):CRITICAL (5.34x)
Operating Margin (Operational Efficiency):GOOD (20.6%)
Return on Capital (Capital Efficiency):EXCELLENT (21.0%)
📊 Valuation Trilogy
Three interconnected metrics for complete valuation analysis
Click any metric for full methodology and detailed analysis
Zyberno's Verdict

According to Zyberno, HASBRO, INC. (HAS) shows a Value Trap signal — AVERAGE BUSINESS (60/100) with an apparent Margin of Safety of +57.7%, but a Brina Gap of -8.3% reveals the current price still assumes faster growth than the business can deliver.

According to Zyberno's DCF model, HASBRO, INC. (HAS) trades at $94.87 against an estimated intrinsic value per share of $224.39 — a +57.7% Margin of Safety based on Owner Earnings of $1.02B TTM, projected at 55.4% growth for 10 years with a 2.5% terminal growth rate. The Brina Gap of -8.3% weakens the case: based on the company's ROIC (21.0%) and reinvestment rate (-8.0%), the business can fundamentally grow at -1.7% — but the current enterprise value implies the market expects 6.6%. This places HAS in the Value Trap quadrant of the Brina Matrix — a value-trap signal where the apparent discount is undermined by overpriced growth expectations. Zyberno's model translates this into a 5-year expected return of 42.5% annually.

Over the trailing twelve months, HAS generated $1.02B in Owner Earnings. Capital was deployed as follows: $7.70M returned via share buybacks, $393.10M paid as dividends, $71.70M invested in capital expenditures. Reinvestment rate: -8.0%. Owner Earnings have grown at 55.4% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY
A. Market Valuation

Market Price & Capitalization (2)

Current Price:94.87
Market Cap:$13.43B

Valuation Multiples (4)

P/B Ratio:18.39x
P/S Ratio:2.39x
Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$16.97B
Ev Ebitda Ratio:12.69x
Pfcf Ratio:13.16x

Price Action & Momentum (3)

Momentum Percentile:60 / 100
% of 52-Week High:88.7%
B. Profitability Assessment

Return Metrics (7)

ROA:0.6%
Reinvestment Rate:-8.0%
Fundamental Growth Rate (g):-1.7%
Market-Implied Growth Rate:6.6%

Margin Analysis (3)

Operating Margin Ttm:20.6%
Net Margin Ttm:0.7%
Ebitda Margin:23.8%

TTM Performance (3)

Gross Margin Ttm:75.6%
Operating Margin Ttm:20.6%
Net Margin Ttm:0.7%

Yield Metrics (3)

Earnings Yield:$0.22
Owner Earnings Yield:$7.60
Dividend Yield:2.9%
C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

EPS Surprise vs Expected:116.7%
Latest Earnings Filed:2026-07-30

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-1.2%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):22.7%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):50.3%
Operating Cash Flow Growth Rate (Linear):63.2%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):37.2%
D. Financial Stability

Liquidity Ratios (3)

Current Ratio:1.66x
Quick Ratio:1.46x
Cash Ratio:0.00x

Leverage Analysis (3)

Debt To Equity Ttm:5.34x
Debt-to-Equity Ratio:5.34x
Debt To Ebitda:2.65x

Coverage Ratios (2)

Interest Coverage Ratio:0.07x
Times Interest Earned:0.07

Capital Structure (4)

Working Capital:1,134,300,000.00
Cash And Cash Equivalents:0.00
Long Term Debt:$3.04B
Net Debt:$3.54B
DIVISION II: FINANCIAL STATEMENTS ANALYSIS
A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $5.63B
Linear Growth: -1.2%
📊 Click to view full HAS Revenue analysis & methodology →
Cost Of Revenue Ttm:$1.37B

Profitability Breakdown (2)

Gross profit TTM: $4.25B
Linear Growth: 4.2%
📊 Click to view full HAS Gross Profit analysis & methodology →
Operating income TTM: $1.16B
Linear Growth: 37.2%
📊 Click to view full HAS Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: $36.90M
Linear Growth: 22.7%
📊 Click to view full HAS Net Income analysis & methodology →
Income Before Tax:$350.80M
Ebitda Ttm:1,337,400,000.00

Operating Expenses (5)

Operating Expenses:3,811,800,000.00
R And D Expense:399,200,000.00
Sga Expense:1,219,300,000.00
Income Tax Expense:$231.10M
Interest Expense:169,500,000.00

Expense Ratios (3)

R And D To Revenue Percentage:30.9%
Sga To Revenue Percentage:94.5%
Ebitda Margin:23.8%
B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$6.04B
Current Assets:$2.85B
Ppe Net:261,800,000.00
Goodwill:1,256,200,000.00
Intangible Assets:$426.40M

Liability Structure (4)

Total Liabilities:5,306,900,000.00
Current Liabilities:1,715,300,000.00
Long Term Debt:$3.04B
Short Term Debt:$497.00M

Equity & Capital (3)

Equity:$730.30M
Retained Earnings:$1.71B
Common Stock:600,000,000.00

Working Capital Items (3)

Accounts Receivable:751,700,000.00
Inventory:353,200,000.00
Accounts Payable:374,900,000.00

Special Items (2)

Contract Liabilities:166,000,000.00
Stock Based Compensation:21,100,000.00
C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $1.09B
Linear Growth: 63.2%
Free cash flow TTM: $1.02B
Linear Growth: 50.3%
📊 Click to view full HAS Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$472.10M
Capital Expenditures Ttm:71,700,000.00

Financing Activities (3)

Financing Cash Flow:$215.10M
Dividends Paid Ttm:393,100,000.00
Stock Repurchase:7,700,000.00

Capital Transactions (3)

Common Stock Issuance:0.00
Long Term Debt Issuance:$399.40M
Long Term Debt Repayments:$68.40M

Non-Cash Items (1)

Depreciation Amortization Ttm:176,000,000.00
DIVISION III: OPERATIONAL METRICS
A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):0.25
Eps diluted TTM: $0.21
Linear Growth: 21.8%
📊 Click to view full HAS EPS analysis & methodology →
Earnings Per Share Ttm:$0.26

Revenue & Cash Per Share (3)

Sales Per Share Ttm:39.76
Operating Cash Flow Per Share:$6.31
Fcf Per Share Ttm:7.21

Book Value & Capital (2)

Book Value Per Share:$5.16
Cash Per Share:-999.00

Dividend Policy (1)

Dividend Payout Ratio:-999.00x
B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.98x
Working Capital Turnover Ttm:4.96x

Receivables Management (2)

Receivables Turnover Ttm:7.49x
Days Sales Outstanding Ttm:48.74

Inventory Management (2)

Inventory Turnover Ttm:3.89x
Days Inventory Outstanding Ttm:93.77

Payables & Cash Cycle (2)

Days Payable Outstanding:99.53
Cash Conversion Cycle:42.98
C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:40.00
Quality Score:40.00

Market Metrics (2)

Beta:0.00x
Volatility Category:unknown
DIVISION IV: INVESTMENT ANALYSIS
A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $1.02B
Linear Growth: 55.4%
📊 Click to view full HAS Owner Earnings analysis & methodology →
Owner Earnings Per Share:$7.21
Owner Earnings Yield:$7.60

Growth Assessment (1)

Owner Earnings Growth Rate:$55.35

Damodaran Growth Analysis (4)

Reinvestment Rate:-8.0%
Fundamental Growth Rate (g):-1.7%
Market-Implied Growth Rate:6.6%

Intrinsic Value Models (1)

Margin of Safety (1)

Return Scenarios (2)

Investment Assessment (1)

Buffett Assessment:Excellent margin of safety
B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):-1.2%
Net Income Growth Rate (Linear):22.7%
Operating Income Growth Rate (Linear):37.2%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):50.3%
Operating Cash Flow Growth Rate (Linear):63.2%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):4.2%
Book Value Growth Rate (Linear):-38.4%
Owner Earnings Growth Rate:$55.35
C. Company Profile & Context

Corporate Information (6)

Symbol:HAS
Company Name:HASBRO, INC.
Sector:Unknown
Industry:Games, Toys & Children's Vehicles (No Dolls & Bicycles)
Exchange:NASDAQ
Country:United States

Market Classification (3)

Market Cap Category:N/A
Price Category:high
Volume Category:N/A

Share Structure (3)

Shares Outstanding:141.60M
Shares Outstanding Basic:141.60M
Shares Outstanding Diluted:143.10M

Data Processing Info (3)

Processing Version:v3.0
Last Updated:2026-08-29 10:28:39 UTC
Data Timestamp:2026-08-29T10:28:39.631769
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