What is Mattel's net debt?

Mattel (MAT) reported net debt of $1.81B in Q1 2026.

How has Mattel's net debt changed year-over-year?

Mattel's net debt increased by 26.0% year-over-year, from $1.44B to $1.81B.

What is the long-term trend for Mattel's net debt?

Over 5 years (2020 to 2025), Mattel's net debt has grown at a -9.9% compound annual growth rate (CAGR), from $2.42B to $1.44B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Mattel MAT Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

MattelMAT

2.8×+1.1×

Dorman ProductsDORM

1.5×+0.1×

International Seaways, Inc.INSW

0.6×-0.3×

Graphic Packaging HoldingGPK

4.5×+0.9×

Centrus EnergyLEU

-16.8×-21.3×

Grand Canyon EducationLOPE

0×0.0×

Other financials

Income statement

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Revenue$862.2M+4.3%

Gross profit$386.8M-5.2%

Operating income-$102.7M-93.8%

Net income$61.0M+251%

EPS (diluted)$0.20+267%

Balance sheet

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Cash & equivalents$866.0M-30.4%

Total debt$2.7B-0.2%

Total equity$2.1B-1.1%

Total assets$6.3B+2.0%

Cash flow

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Operating cash flow-$22.9M-192%

CapEx$44.9M+116%

Free cash flow-$67.8M-1,799%

Valuation

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Market cap$4.08B-31.6%

Enterprise value$5.89B-21.0%

P/E8.2×-3.1×

P/S0.8×-0.3×

Profitability

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Gross margin48%-3.0pp

Operating margin9.2%-3.3pp

Net margin9.3%-0.5pp

FCF margin7.6%-4.4pp

Returns & leverage

See full

Return on equity23.6%-1.9pp

Debt / equity1.3×0.0×

Current ratio2.1×-0.4×

Where this comes from

Calculated from Mattel’s reported figures.

$2.7Btotal debt−$866.0Mcash and equivalents=$1.81B

The official record: Mattel’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mattel's net debt?: Mattel (MAT) reported net debt of $1.81B in Q1 2026.
How has Mattel's net debt changed year-over-year?: Mattel's net debt increased by 26.0% year-over-year, from $1.44B to $1.81B.
What is the long-term trend for Mattel's net debt?: Over 5 years (2020 to 2025), Mattel's net debt has grown at a -9.9% compound annual growth rate (CAGR), from $2.42B to $1.44B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.