Q3 FY26 · Ended Sep 27, 2026 · View SEC filing
Magic's maker outearns the entire toy business
On 46.8% of revenue, Wizards of the Coast earned 71.0% of operating profit, more than twice Consumer Products.
For investorsHow much of the margin jump outlasts the tariff refund?
For foundersRenting fandoms: the playbook and its royalty price
The filing credits a one-time tariff refund and lower tariffs, so part of this margin is not a run rate.
Royalties paid rose 24.3% against revenue's 15.0%, as growth leaned on licensed fandoms like The Hobbit and Marvel.
Capital spending took 1.8% of revenue, leaving free cash flow equal to 17.1% of revenue this quarter.
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Business Lens describes Hasbro from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
