MAT MATTEL INC /DE/

Overview and Growth

MATTEL INC /DE/ generated $5.35B of revenue in fiscal 2025, with net income of $397.58M and an operating cash inflow of $593.25M. At $5.35B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line contracted 0.6% from $5.38B in fiscal 2024; this top-line contraction left the company with a smaller revenue base. The company reported diluted EPS of $1.24, adding a shareholder-level measure to the absolute income figures considered below. The per-share result recorded a 21.5% decrease from fiscal 2024 diluted EPS of $1.58. At period end, total assets were $6.64B, framing the scale of the company’s operating and financing commitments. Revenue equaled 0.81x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $2.61B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 48.7% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $546.42M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 10.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $397.58M for the fiscal year. Measured against reported revenue, net income produced a 7.4% margin after operating costs and the remaining recognized items. The earnings statement records $459.49M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 8.6% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $89.77M, providing the reported tax component that separates pretax and after-tax earnings. The effective relationship between income tax and positive pretax income was 19.5%, without assuming a statutory-rate comparison. Return on period-end equity was 17.8%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 6.0%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

At period end, the $6.64B asset base was financed through $4.41B of liabilities and $2.23B of equity. The near-term balance sheet paired $3.13B of current assets with $1.46B of current liabilities at the reporting date. At 2.15x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $1.24B, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 85.2% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $2.33B, adding a fixed financing obligation alongside the company’s equity capital. The debt-to-equity relationship was 1.04x, showing how much debt the company carried for each unit of book equity. Relative to total assets, debt measured 35.1%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 66.4%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 18.7%, a balance-sheet composition measure rather than a liquidity forecast. The asset base changed 1.5% from $6.54B in fiscal 2024, leaving current total assets higher year over year. Book equity was 1.4% lower than fiscal 2024 equity of $2.26B, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $593.25M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 1.49x, showing the relationship between accrual earnings and operating cash.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.