Mattel, Inc. (MAT) Income Statement
MAT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMAT revenue and net income
Where MAT's revenue goes
2025Each bar shows an amount and its share of revenue. MAT kept 7.4% of revenue as net income.
MAT profit margins
MAT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −0.6% | −0.5% | +3.1% | −0.6% |
| Gross profit | −4.4% | +1.7% | +3.1% | −0.7% |
| Operating income | −10.7% | −2.8% | +10.6% | +1.4% |
| Net income | −26.6% | +0.3% | +26.3% | +0.7% |
| EPS (diluted) | −11.7% | +4.6% | +22.1% | +1.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MAT quarterly EPS vs estimates
Mattel beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: October 20, 2026 (estimate $0.99).
MAT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.35B | $5.38B | $5.44B | $5.43B | $5.46B | $4.59B | $4.50B | $4.51B | $4.88B | $5.45B |
| Cost of revenue | $2.73B | $2.65B | $2.86B | $2.95B | $2.83B | $2.35B | $2.53B | $2.72B | $3.06B | $2.91B |
| Gross profit | $2.61B | $2.73B | $2.58B | $2.48B | $2.63B | $2.24B | $1.98B | $1.80B | $1.82B | $2.55B |
| Research & development | — | $194.1M | $198.6M | $195.5M | $189.4M | $189.5M | $197.2M | $205.4M | $225.2M | $215.3M |
| Sales, general & admin | $1.99B | $1.53B | $972.5M | $1.27B | $1.35B | $1.34B | $1.39B | $1.51B | $1.52B | $1.39B |
| Total operating expenses | $1.99B | $2.04B | $1.50B | $1.81B | $1.90B | $1.87B | $1.94B | $2.03B | $2.16B | $2.03B |
| Operating income | $620.0M | $694.3M | $561.7M | $675.5M | $729.6M | $374.7M | $37.1M | −$234.3M | −$335.7M | $520.0M |
| Interest income | $45.0M | $51.5M | $19.7M | $9.4M | $3.5M | $3.9M | $6.2M | $6.5M | $7.8M | $9.1M |
| Interest expense | $118.7M | $118.8M | $123.8M | $132.8M | $253.9M | $198.3M | $201.0M | $181.9M | $105.2M | $95.1M |
| Income before taxes | $487.4M | $647.4M | $465.4M | $529.8M | $482.6M | $189.1M | −$160.4M | −$417.1M | −$501.2M | $402.0M |
| Income taxes | $89.8M | $105.6M | $269.5M | $135.9M | −$420.4M | $65.5M | $58.3M | $116.2M | $553.3M | $89.1M |
| Net income | $397.6M | $541.8M | $214.4M | $393.9M | $903.0M | $123.6M | −$218.8M | −$533.3M | −$1.05B | $312.9M |
| EBITDA | $774.1M | $987.2M | $561.7M | $875.4M | $956.4M | $569.4M | $285.9M | $38.9M | −$121.3M | $759.5M |
| EPS (diluted) | $1.44 | $1.63 | $1.23 | $1.26 | $1.30 | $0.53 | −$0.32 | −$0.94 | −$1.09 | $1.07 |
| Gross margin | 48.9% | 50.8% | 47.5% | 45.7% | 48.1% | 48.9% | 43.9% | 39.8% | 37.4% | 46.7% |
| Operating margin | 11.6% | 12.9% | 10.3% | 12.4% | 13.4% | 8.2% | 0.8% | −5.2% | −6.9% | 9.5% |
| Net margin | 7.4% | 10.1% | 3.9% | 7.2% | 16.5% | 2.7% | −4.9% | −11.8% | −21.6% | 5.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.13B | $862.2M | $1.77B | $1.74B | $1.02B | $826.6M | $1.65B | $1.84B | $1.08B | $809.5M | $1.62B | $1.92B |
| Cost of revenue | $583.2M | $481.8M | $954.4M | $867.8M | $499.6M | $418.5M | $810.9M | $864.9M | $549.0M | $420.6M | $830.5M | $940.9M |
| Gross profit | $542.1M | $380.3M | $812.1M | $868.3M | $519.0M | $408.1M | $835.5M | $979.0M | $530.7M | $388.9M | $790.2M | $977.9M |
| Research & development | — | $59.9M | — | $54.5M | $49.4M | $46.8M | — | $95.0M | $47.4M | $47.6M | $50.3M | $49.8M |
| Sales, general & admin | $531.2M | $396.1M | $651.6M | $370.3M | $361.3M | $390.9M | $677.2M | $385.7M | $373.8M | $352.9M | $415.7M | $379.8M |
| Total operating expenses | $531.2M | $465.0M | $651.6M | $488.4M | $440.5M | $461.1M | $677.2M | $490.7M | $447.5M | $424.4M | $650.1M | $504.1M |
| Operating income | $10.9M | −$84.7M | $160.5M | $379.9M | $78.5M | −$53.0M | $158.3M | $488.3M | $83.2M | −$35.5M | $140.1M | $473.9M |
| Interest income | $7.0M | $10.7M | $7.7M | $9.0M | $12.4M | $16.0M | $12.0M | $9.8M | $12.4M | $17.3M | $9.8M | $4.6M |
| Interest expense | $31.8M | $31.1M | $30.7M | $29.4M | $29.4M | $29.2M | $29.4M | $29.4M | $30.0M | $30.1M | $31.3M | $30.7M |
| Income before taxes | −$18.0M | $28.6M | $123.4M | $365.2M | $69.6M | −$70.9M | $151.7M | $478.7M | $66.1M | −$49.1M | $120.0M | $455.7M |
| Income taxes | $200,000 | −$32.4M | $17.2M | $86.9M | $16.2M | −$30.6M | $10.9M | $106.3M | $9.2M | −$20.8M | −$27.3M | $309.3M |
| Net income | −$18.2M | $61.0M | $106.2M | $278.4M | $53.4M | −$40.3M | $140.9M | $372.4M | $56.9M | −$28.3M | $147.3M | $146.3M |
| EBITDA | $13.8M | $103.6M | $196.1M | $436.2M | $152.6M | $10.3M | $233.0M | $563.6M | $157.9M | $32.7M | $242.8M | $538.5M |
| EPS (diluted) | $0.01 | −$0.20 | $0.39 | $0.89 | $0.19 | −$0.03 | $0.35 | $1.14 | $0.19 | −$0.05 | $0.29 | $1.08 |
| Gross margin | 48.2% | 44.1% | 46.0% | 50.0% | 50.9% | 49.4% | 50.7% | 53.1% | 49.2% | 48.0% | 48.8% | 51.0% |
| Operating margin | 1.0% | −9.8% | 9.1% | 21.9% | 7.7% | −6.4% | 9.6% | 26.5% | 7.7% | −4.4% | 8.6% | 24.7% |
| Net margin | −1.6% | 7.1% | 6.0% | 16.0% | 5.2% | −4.9% | 8.6% | 20.2% | 5.3% | −3.5% | 9.1% | 7.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MAT's financial statements (latest annual report filed February 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MAT financial results
In fiscal year 2025 (ended December 31, 2025), Mattel reported revenue of $5.3 billion, down 0.6% from the year before. It had net income of $397.6 million (down 26.6%), a net profit margin of 7.4%. Diluted earnings per share came to $1.44. Over five years revenue grew at an average rate of 3.1% a year.
See the MAT stock overview for the latest quote and news, or the MAT chart for price history and technical indicators.
MAT income statement FAQ
What is Mattel's annual revenue?
Mattel reported total revenue of $5.3 billion for fiscal year 2025, which ended on December 31, 2025. That was down 0.6% from $5.4 billion the previous year.
Is Mattel profitable?
Yes. Mattel reported net income of $397.6 million in fiscal 2025, a net profit margin of 7.4%; its operating margin was 11.6%.
What is Mattel's gross margin?
Mattel's gross margin was 48.9% in fiscal 2025: for every $100 of revenue, Mattel kept $49 after the direct cost of its products and services.
How fast is Mattel growing?
Revenue grew 3.1% a year on average over the last five fiscal years, from $4.6 billion to $5.3 billion.
What are Mattel's earnings per share?
Mattel earned $1.44 per diluted share in fiscal 2025, compared with $1.63 a year earlier.
When will Mattel report its next earnings?
Mattel is expected to report results for the quarter ending September 30, 2026 on October 20, 2026.
When does Mattel's fiscal year end?
Mattel's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 23, 2026.