Mattel reported net income of approximately $897 million for fiscal year 2024, up from $826 million the prior year. The improvement reflects ongoing cost discipline under CEO Ynon Kreiz's Optimizing for Profitable Growth strategy, which has steadily expanded margins since 2018 even as top-line revenue growth has stalled in the post-Barbie film normalization period.
Earnings of Mattel
Net income (USD billions) from 1960 through 2024. Red points mark loss years. The 2018 loss reflects the Toys"R"Us channel collapse and restructuring charges; the 2017 loss reflects prior-year goodwill impairments.
Annual Earnings Of Mattel
| Year | Net Income (USD) | YoY Change |
|---|---|---|
| 2015 | $369M | — |
| 2016 | $318M | −13.8% |
| 2017 | −$1.05B | Loss |
| 2018 | −$531M | Loss |
| 2019 | $176M | Recovery |
| 2020 | $126M | −28.4% |
| 2021 | $903M | +616.7% |
| 2022 | $994M | +10.1% |
| 2023 | $826M | −16.9% |
| 2024 | $897M | +8.6% |
Note: The 2017 loss includes a ~$944M goodwill impairment for the American Girl brand. The 2018 loss includes $450M+ in restructuring and Toys"R"Us-related charges. The 2021 turnaround reflects Kreiz's cost reduction and brand strategy bearing fruit alongside pandemic toy demand.
Mattel P/E Ratio
| Year | P/E Ratio | Note |
|---|---|---|
| 2015 | 26.0x | Declining earnings base |
| 2016 | 30.2x | Further compression |
| 2017 | N/M | Net loss year |
| 2018 | N/M | Net loss year |
| 2019 | 32.9x | Recovery earnings, high multiple |
| 2020 | 42.9x | Depressed earnings base |
| 2021 | 8.2x | Record earnings, compressed P/E |
| 2022 | 7.0x | −14.6% |
| 2023 | 12.6x | Barbie film premium |
| 2024 | 7.6x | Multiple compression post-film |