On this page of StockholderLetter.com we present the latest annual shareholder letter from HASBRO, INC. — ticker symbol HAS. Reading current and past HAS letters to shareholders can bring important insights into the investment thesis.

 •  4/17/2026 Letter Continued (Full PDF)
 •  4/3/2023 HAS Stockholder Letter
 •  4/3/2024 HAS Stockholder Letter
 •  4/4/2025 HAS Stockholder Letter
 •  More "Consumer Goods" Category Stockholder Letters
 •  HAS Benford's Law Stock Score = 98

HAS Shareholder/Stockholder Letter Transcript:

2025
HASBRO ANNUAL
REPORT

Fellow
Shareholders,
Playing to Win, is our strategic roadmap
designed to move Hasbro from turnaround
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digit revenue growth, expanded adjusted
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through dividends, and authorized a new
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Oro prm`omlt`o ep inspiring a lifetime of play   
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Hasbro Mission
to create joy and
community through the
magic of play.
HASBRO 2025 @NNU@L RDPORT
Playing to Win is not just a strategic framework,
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In 2025, Hasbro brands
delighted a total of
Driving Prof itable Growth
Through Play
Wizards of the Coast continued to lead our growth, with
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$1 billion. MAGIC: THE GATHERING fueled the growth,
supported by strong tentpole releases, Secret Lair, and
backlist performance.
Player engagement remains robust. More than one
million unique players participated in Organized Play
in 2025, supported by a global network of over 10,000
active Wizards Play Network stores. This system of
play, spanning tabletop, digital, and licensed gaming
positions MAGIC as one of the strongest franchises in
gaming today.
Our Consumer Products business returned to growth in
the fourth quarter and demonstrated resilience for the
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and operational discipline.
1billion+
people worldwide
1 of every 8 people on the planet
engages with Hasbro brands*
*Based on Hasbro   s 2025 large scale consumer survey.
Delighting One Billion Fans
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one billion kids, families, and fans every year,
nearly one in eight consumers globally.
From TRANSFORMERS on the big screen, to families
visiting PEPPA PIG theme parks, to MAGIC played in
hobby shops and online around the world, our brands
are creating joy at unprecedented scale.
That engagement is the foundation of our growth.
Leaning Into Growth Categories
$1B+
Wizards of the Coast
Operating Profit in 2025
As we look ahead, the play and entertainment
landscape is evolving. The winners increasingly share
common traits. They build communities, encourage
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At Hasbro, we call them GEM2 categories:
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collection, brands that combine gameplay, storytelling,
collecting, and community. They create ongoing
engagement rather than a single purchase.
This model plays directly to Hasbro   s strengths.
Our portfolio includes some of the most powerful
GEM2 franchises in the industry, including MAGIC:
THE GATHERING, DUNGEONS & DRAGONS,
TRANSFORMERS, and MONOPOLY.
Hasbro already leads with fans and collectors and we
partner with the best entertainment companies in the
world to scale those communities globally.
HASBRO 2025 ANNUAL REPORT

Expanding Through Partnership
Partnership is foundational to Hasbro, and we have
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Within Wizards, our Universes Beyond slate continues
to demonstrate the power of combining great gameplay
with beloved global IP, with collaborations spanning
Marvel Super Heroes, Teenage Mutant Ninja Turtles,
The Hobbit, Star Trek, and more.
Evolving Into a Digital-First
Play and IP Company
Central to Playing to Win is our transformation into a
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We also announced a partnership with HBO to develop
a Baldur   s Gate series, further unlocking long-term
value from our storytelling assets across more than
60 active entertainment projects.
In Toys, we secured new collaborations including
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license for the world of Harry Potter and the upcoming
HBO Original series with Warner Bros. Discovery, as
well as partnerships for Voltron and Street Fighter.
These iconic franchises will begin contributing in 2026
and beyond, strengthening our growth pipeline.
Our self-published video game strategy advanced in
2025. Trailers for our upcoming titles, EXODUS and
WARLOCK, have generated more than 100 million views
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our direct participation in digital gaming.
Positioned for Continued Growth
We entered 2026 from a position of strength and we are
building a company designed for longevity, powered
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Playing to Win is not just an aspiration, it is a proven
strategy creating sustainable shareholder value.
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Chris Cocks
Bde`a Du`^rqes` O  ^`o [k_ Ceo`^qlo  
Hasbro
AI at Hasbro
We are embedding AI responsibly across our
operations. In 2025, we moved beyond
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operations, product design, and everyday
productivity under disciplined governance.
We anticipate freeing up more than one million
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and reinvesting that capacity into innovation
and creativity.
HASBRO 2025 ANNUAL REPORT
In Toys, AI-assisted design paired with 3D printing
reduced time from concept to physical prototype
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Great IP plus great storytelling is durable. As
technology evolves, our deep portfolio of owned
brands and our partnerships with world-class
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rather than be displaced by it.

Board of Directors
Doug Bowser
Former President &
Bde`a Om`o[qekc O  ^`o 
of Nintendo of America, Inc.
Hope F. Cochran
Venture Partner at
Madrona Venture Group
Christian P. Cocks
Bde`a Du`^rqes` O  ^`o 
of Hasbro
Lisa Gersh
Outside Advisor; Former Chief
Du`^rqes` O  ^`o la @h`u[k_`o W[kc
Frank D. Gibeau
President of Zynga at
Take-Two Interactive
Darin S. Harris
Bde`a Du`^rqes` O  ^`o la 
Goddard Systems, LLC
Owen Mahoney
Eloj`o Bde`a Du`^rqes` O  ^`o [k_ 
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Laurel J. Richie
Independent Branding Consultant;
Former President of Women   s
National Basketball Association
Richard S. Stoddart
Chair of the Board of Hasbro and
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Carla Vern  n
Bde`a Du`^rqes` O  ^`o 
of The Honest Company
Elizabeth Hamren
Bde`a Du`^rqes` O  ^` 
of AllTrails LLC
Executive Management
Christian Cocks
Bde`a Du`^rqes` O  ^`o 
and Director
John Hight
President, Wizards of the Coast
and Digital Gaming
Gina Goetter
Bde`a Eek[k^e[h O  ^`o [k_ 
Bde`a Om`o[qekc O  ^`o
Tim Kilpin
President, Toys, Board Games,
Licensing and Entertainment
Holly Barbacovi
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[k_ Bde`a P`lmh` O  ^`o
Tarrant Sibley
Du`^rqes` Ve^` Po`pe_`kq   
Bde`a L`c[h O  ^`o [k_ 
Corporate Secretary
Jason Bunge
Du`^rqes` Ve^` Po`pe_`kq [k_ 
Bde`a M[og`qekc O  ^`o
HASBRO 2025 ANNUAL REPORT

4/17/2026 Letter Continued (Full PDF)

 

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