HASBRO, INC. — #HAS — 02.03.2026 - NASDAQHasbro, Inc.BATS:HASSinnSeed📊 HASBRO, INC. (#HAS) Trump distracted us a bit over the weekend, but we keep going. 🔎 Hasbro is a leading American corporation in toys, tabletop and digital games, and entertainment content. The company develops and manufactures toys, tabletop and digital games, licensed consumer products, and also produces content for film, television, and themed venues. Iconic brands include Monopoly, Transformers, My Little Pony, NERF, Play-Doh, Magic: The Gathering, and Dungeons & Dragons. The Wizards of the Coast division is the main growth engine, especially in the digital and collectible segments. 🔹 Exchange: NASDAQ, ticker — HAS 🔹 Member of the S&P 500 index 🔹 Market cap: ~USD 14B 🔹 Headquarters: Pawtucket, Rhode Island, USA 🔹 Employees: ~5,000 🔹 Presence: 35 countries — Monopoly, Transformers, My Little Pony, NERF, Play-Doh, Magic: The Gathering, and Dungeons & Dragons. 🏛 Founding and development history The company was founded on December 6, 1923 by three brothers—Henry, Hillel, and Herman Hassenfeld, immigrants from Poland—in Providence, Rhode Island. The original name was Hassenfeld Brothers. They started by selling textile remnants, then moved into school supplies, and by the 1940s shifted into toy manufacturing. 📖 Key milestones: ▪️ 1952 — launch of Mr. Potato Head, the first toy advertised on television ▪️ 1964 — release of the first G.I. Joe figure ▪️ 1968 — renamed to Hasbro Industries and went public ▪️ 1977 — first dividend payment ▪️ 1983–1984 — launch of My Little Pony and Transformers; acquisition of Milton Bradley ▪️ 1991 — acquisition of Tonka Corp. ▪️ 1999 — acquisition of Wizards of the Coast (Magic: The Gathering and Dungeons & Dragons franchises) ▪️ 2007 — release of the “Transformers” movie, which launched one of the highest-grossing film series in cinema history ▪️ 2015 — launch of the Hasbro Pulse direct-to-consumer platform ▪️ 2018 — acquisition of Power Rangers; launch of the digital version of MTG Arena ▪️ 2019 — acquisition of Entertainment One for USD 4B (sold in 2023) ▪️ 2022 — acquisition of D&D Beyond; Chris Cocks appointed CEO ▪️ 2023 — sale of eOne’s film and TV business; renewed focus on games and IP For more than 100 years, Hasbro has evolved from a textile business into a global leader in the entertainment industry. 🤝 Licensing deals and partnerships The company actively uses licensing to expand its brands, partnering with major studios. This provides steady royalty income and cross-promotion. ▪️ Disney / #Lucasfilm / #Marvel / Star Wars — licenses renewed in 2025 for Marvel and Star Wars, including integration into Magic: The Gathering. Guaranteed payments to Disney — USD 80M. ▪️ Warner Bros. Discovery (Harry Potter) — multi-year partnership starting in 2027 for toys, games, dolls, roleplay sets, and collectibles. Hasbro is the primary global licensee. ▪️ Mattel — cross-licensing, including Monopoly: Barbie Edition, Transformers × Hot Wheels, Play-Doh × Barbie. Launches across 2023–2025. ▪️ Gambling industry — partnerships with Aristocrat, Evolution, Galaxy Gaming, Bally's, and SciPlay. Launches in 2026 targeted at an adult audience. ▪️ Other — licenses for Peppa Pig, Power Rangers, and integrations into #MTG (The Hobbit, Teenage Mutant Ninja Turtles, Star Trek in 2026). (the latest Star Trek season in 2026 is, in my personal opinion, basically a mockery of the franchise, IMHO) These contracts generate billions in royalties and strengthen brands through multimedia presence. ⚠️ Lawsuits (December 2025 — February 2026) 📰 On January 21, 2026, shareholders Joseph Crocono and Ultan McGloone filed a lawsuit in Rhode Island federal court against Hasbro, CEO Chris Cocks, former Wizards of the Coast head Cynthia Williams, and members of the board of directors. 📁 Core allegations: misleading investors regarding the Magic: The Gathering production strategy. According to the plaintiffs, the company intentionally overproduced MTG sets to artificially inflate revenue and offset losses in other areas. This allegedly led to card devaluation and brand risk. It was also stated that the company repurchased its own shares for USD 125M at inflated prices. 📌 The lawsuit was voluntarily withdrawn by the plaintiffs on February 17, 2026, without a court ruling. Hasbro denies all allegations. No other major scandals were recorded in this period. 💰 Financial performance (FY 2025) Hasbro ended FY 2025 (through December 2025) with noticeable growth, largely driven by Wizards of the Coast (+45% revenue). | However, the company still posted a net loss for the year due to restructuring and weakness in the consumer segment. ✏️ Revenue: 🔹 Full year — USD 4.70B (+14% YoY) 🔹 Q4 — USD 1.45B (+31.3%) ✏️ Profitability (adjusted): 🔹 Operating profit — USD 1.14B (+36%) 🔹 Operating margin — 24.2% (+3.9 pp) 🔹 Adjusted EPS — USD 5.54 🔹 Adjusted EBITDA — USD 1.36B (above guidance) ✏️ Net loss (reported): 🔹 −USD 322M (−USD 2.30 per share) ✏️ Segments: 🔹 Wizards of the Coast — revenue USD 2.2B (+44.7%), operating profit ~USD 1B 🔹 Consumer Products — loss USD 943M ✏️ Balance sheet & multiples: 🔹 Debt/Equity — 5.77 🔹 Current ratio — 1.38 🔹 Return on equity — −44.48% (due to losses) 🔹 Beta — 0.89 ✏️ Dividends & capital return: 🔹 Dividends paid — USD 393M 🔹 Debt reduction — USD 225M 🔴 Import tariffs on goods from China hit Hasbro primarily through COGS (and therefore margins) and secondarily through demand (via higher prices and more cautious retail ordering). China exposure is traditionally high for toy makers, and Hasbro explicitly states in its filings that tariffs on goods produced outside the US increase product costs, may reduce profitability, and can negatively impact sales. Technical analysis: First, the classic step—define the key level: 101.7 Fibonacci retracement zone — 61.8% ~ 93.53 Now let’s dig deeper Look at the big picture 🔗 As we can see, the 101.7 level was broken with volume (blue diamond). A breakout on volume confirms the breakout is not false. Then there were 2 attempts to retest the level; sellers didn’t allow price above the breakout point. (red dots) I see the target of the current move at — 94.00 (in theory, a spike down into the 89.5–88.5 zone is possible—amid supply disruptions and rising costs) Look here (weeks) 🔗 After that, I expect growth. Targets are defined using Fibonacci extensions: 🎯 First target: 112.25 🎯 Second target: 117.20 🗓 On February 20, the US Supreme Court, in a 6–3 decision (Learning Resources, Inc. v. Trump), ruled illegal Trump’s #tariffs imposed under #IEEPA. The idea is based on the market having priced in the headline, but NOT priced in refunds and NOT priced in the possible cancellation of tariffs by July.