MATTEL INC

Mattel, Inc. (NASDAQ: MAT) operates as a leading global play and family entertainment company headquartered at corporate.mattel.com. The company designs, manufactures, markets, and sells toys, games, and entertainment products across multiple categories and age groups, from infants through adult collectors.

Mattel's business is organized into two reportable segments: North America and International. The North America segment markets and sells products throughout the United States and Canada, while the International segment operates in European, Latin American, Asian markets, Australia, and New Zealand. During 2025, the three largest customers—Walmart, Target, and Amazon—collectively accounted for approximately 42 percent of worldwide consolidated net sales.

The company owns and operates an iconic portfolio of brands including Barbie, Hot Wheels, Fisher-Price, American Girl, Monster High, Matchbox, Thomas & Friends, Masters of the Universe, and UNO. Mattel also holds significant licensing agreements with major entertainment properties including Disney, NBCUniversal, Warner Bros., Microsoft, WWE, and Formula 1, enabling the production of products tied to franchises such as Toy Story, Jurassic World, Minecraft, and Star Wars.

As of December 31, 2025, Mattel employed approximately 31,000 employees across 34 countries, with roughly 26,000 located outside the United States. The company maintains principal manufacturing facilities in China, Vietnam, Indonesia, Malaysia, Mexico, and Thailand, utilizing both company-owned plants and third-party manufacturers.

Mattel's business model centers on an intellectual property-driven strategy focused on growing toy brands through innovation, expanding direct-to-consumer channels, broadening content offerings in film and television, scaling digital play through mobile games, and optimizing operations through artificial intelligence. The company's advertising and promotion expenses totaled $522.0 million in 2025, representing 9.8 percent of net sales. Mattel's business is highly seasonal, with significant consumer purchasing concentrated during the traditional holiday season, requiring substantial advance production and inventory management to meet peak demand periods.