Funko Inc (FNKO)
NASDAQ:FNKO
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Funko
(NASDAQ:FNKO)
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Rating:57Neutral
Price Target:
$5.50
▲(25.86% Upside)
Action:Reiterated
Date:05/09/26
The score is held back primarily by weak financial performance (ongoing losses, leverage, and inconsistent free cash flow) and an unattractive earnings-based valuation signal (negative P/E). These are partially offset by a positive earnings-call backdrop (record margin/EBITDA and reaffirmed guidance) and strong technical trend strength, though momentum looks overbought (RSI ~75).
Positive Factors
Strong licensed IP and brand moat
Funko’s core business monetizes third‑party entertainment IP across Pop!, accessories and experiential lines, creating recurring demand from fandoms. Durable licensing relationships and brand recognition support repeat purchases, retail shelf presence and DTC engagement over multiple product cycles.
Negative Factors
Profitability remains negative
Despite top‑line stabilization, the company has not achieved sustainable net profitability. Negative margins constrain retained earnings and limit ability to self‑fund growth or repay debt, leaving the company exposed to margin pressure from royalties, sourcing costs, or weaker retail demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong licensed IP and brand moat
Funko’s core business monetizes third‑party entertainment IP across Pop!, accessories and experiential lines, creating recurring demand from fandoms. Durable licensing relationships and brand recognition support repeat purchases, retail shelf presence and DTC engagement over multiple product cycles.
Read all positive factors
Funko (FNKO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$291.40M
Dividend YieldN/A
Average Volume (3M)774.14K
Price to Earnings (P/E)―
Beta (1Y)2.24
Revenue Growth-10.39%
EPS Growth-191.24%
CountryUS
Employees1,267
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-1.06
Shares Outstanding55,839,584
10 Day Avg. Volume875,453
30 Day Avg. Volume774,141
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)1.00
Price to Sales (P/S)0.20
P/FCF Ratio-4.86
Enterprise Value/Market Cap1.83
Enterprise Value/Revenue0.58
Enterprise Value/Gross Profit1.75
Enterprise Value/Ebitda19.54
Forecast
1Y Price Target
$6.50Price Target Upside48.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-0.19
Revenue Forecast (FY)$929.71M
Funko Business Overview & Revenue Model
Company Description
Funko, Inc., a pop culture consumer products company, designs, sources, and distributes licensed pop culture products in the United States, Europe, and internationally. The company provides vinyl, blind-packed miniature, and action figures; fashio...
How the Company Makes Money
Funko primarily makes money by designing, sourcing/manufacturing (typically via third-party manufacturers), and selling licensed pop-culture products to retailers and directly to consumers. (1) Wholesale sales to retail and distribution partners: ...
Funko Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The earnings call conveyed net-positive operational and product momentum: Q1 showed healthy POS trends, a record 44% gross margin, core collectibles growth (+17%), and an $11M adjusted EBITDA beat. Product innovation, experiential retail, Loungefly premium success, and strategic hires add to upside. Offsetting risks include modest overall revenue growth (total sales +5%), conservative full-year guidance (flat to +3%), tariff uncertainty (~$20M paid), a planned short-term sales reduction at Loungefly (50% SKU cut), and macro risks like oil price volatility. On balance, positive execution and margin strength outweigh near-term growth and macro uncertainties.Positive Updates
Quarterly Revenue Growth
Total sales up 5% in Q1, driven by Core Collectibles which grew 17% year-over-year.
Negative Updates
Modest Overall Top-Line Growth
Total company sales growth was modest at 5% in Q1 and full-year guidance remains conservative at flat to +3%, indicating limited near-term revenue upside.
Read all updates
Q1-2026 Updates
Positive
Negative
Quarterly Revenue Growth
Total sales up 5% in Q1, driven by Core Collectibles which grew 17% year-over-year.
Read all positive updates
Company Guidance
Funko reiterated full‑year guidance and gave Q2 targets after a strong Q1: Q1 sales were up 5% (Core Collectibles +17%), gross margin hit a record 44% and adjusted EBITDA was $11M. For Q2 management expects sales up low‑single to mid‑single digits and adjusted EBITDA of $5M–$10M, and reaffirmed full‑year guidance of sales flat to +3% with adjusted EBITDA $70M–$80M and gross margin expected to be ~42%–44% for the balance of the year. Management pointed to supportive POS/sell‑through trends (Q1 POS +6% global; wholesale +12%; U.S. +6%, Europe +28%), noted they’ve paid about $20M in IEEPA tariffs and are pursuing refunds (timing uncertain), and said they’re watching oil prices even though current tariff rates are slightly better than planned.Funko Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
42
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 918.39M | 908.21M | 1.05B | 1.10B | 1.32B | 1.03B |
| Gross Profit | 304.62M | 292.17M | 434.53M | 363.30M | 434.02M | 380.99M |
| EBITDA | 27.36M | 14.28M | 72.65M | -7.28M | 35.75M | 133.28M |
| Net Income | -57.85M | -67.36M | -14.72M | -154.08M | -8.04M | 43.90M |
Balance Sheet | ||||||
| Total Assets | 625.87M | 685.23M | 707.25M | 804.64M | 1.09B | 967.50M |
| Cash, Cash Equivalents and Short-Term Investments | 34.30M | 42.15M | 34.66M | 36.45M | 19.20M | 83.56M |
| Total Debt | 277.83M | 291.65M | 260.31M | 362.35M | 347.08M | 238.63M |
| Total Liabilities | 456.73M | 499.42M | 470.90M | 566.61M | 701.46M | 570.95M |
| Stockholders Equity | 169.14M | 185.81M | 233.02M | 231.94M | 368.22M | 321.64M |
Cash Flow | ||||||
| Free Cash Flow | -7.33M | -38.09M | 90.73M | -4.20M | -99.28M | 59.60M |
| Operating Cash Flow | 27.29M | -5.12M | 123.52M | 30.93M | -40.13M | 87.36M |
| Investing Cash Flow | -33.75M | -31.90M | -25.23M | -39.80M | -78.06M | -27.38M |
| Financing Cash Flow | 13.23M | 42.04M | -99.24M | 25.60M | 54.64M | -28.63M |
Funko Technical Analysis
Positive
4.37
Price Trends
4.13
Positive
4.12
Positive
3.66
Positive
Market Momentum
0.26
Positive
62.59
Neutral
45.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FNKO, the sentiment is Positive. The current price of 4.37 is below the 20-day moving average (MA) of 4.78, above the 50-day MA of 4.13, and above the 200-day MA of 3.66, indicating a bullish trend. The MACD of 0.26 indicates Positive momentum. The RSI at 62.59 is Neutral, neither overbought nor oversold. The STOCH value of 45.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FNKO.
Funko Risk Analysis
Funko disclosed 62 risk factors in its most recent earnings report. Funko reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Funko Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $253.84M | -11.85 | 3.24% | 5.97% | -21.02% | -82.84% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | $4.39B | 17.72 | 22.75% | ― | -0.25% | 2.23% | |
58 Neutral | $12.47B | 15.74 | -48.30% | 3.44% | 12.74% | -152.25% | |
57 Neutral | $291.40M | -2.41 | -32.19% | ― | -10.39% | -191.24% | |
45 Neutral | $153.08M | -10.95 | -79.63% | ― | -18.44% | 91.45% | |
44 Neutral | $14.80M | -9.12 | -8.77% | ― | -19.38% | -33.51% |
* Consumer Cyclical Sector Average
FNKO
Funko
5.21
1.30
33.25%
HAS
Hasbro
88.10
23.89
37.21%
JAKK
Jakks Pacific
22.18
3.29
17.45%
MAT
Mattel
15.09
-3.92
-20.62%
DOGZ
Dogness (International)
1.02
-22.64
-95.69%
PLBY
Playboy
1.32
-0.30
-18.52%
Funko Corporate Events
Business Operations and StrategyFinancial Disclosures
Funko Posts Strong Q1 2026 Results, Turnaround Progressing
Positive
May 7, 2026
Funko reported strong financial results for the first quarter ended March 31, 2026, with net sales rising 5.3% year over year to $200.9 million and gross margin improving to a record 44.2% as Core Collectibles grew 16.8%, offsetting declines in Lo...
Business Operations and StrategyFinancial Disclosures
Funko Posts Weak 2025 Results Amid Gradual Operational Improvement
Negative
Mar 12, 2026
On March 12, 2026, Funko reported fourth-quarter and full-year 2025 results showing continued pressure on sales and profitability but some operational improvement late in the year. Fourth-quarter 2025 net sales fell 7% year over year to $273.1 mil...
Business Operations and StrategyExecutive/Board Changes
Funko Names Andrew Oddie Chief International Officer Abroad
Positive
Mar 6, 2026
On March 4, 2026, Funko, Inc. and its subsidiary Funko UK, Ltd amended the existing service agreement with executive Andrew Oddie, formalizing his change in role to Chief International Officer. Under the revised terms, Oddie will no longer reside ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Funko Extends Credit Facility, Adjusts Loan Covenant Terms
Neutral
Feb 13, 2026
On February 13, 2026, Funko Acquisition Holdings, a subsidiary of Funko, Inc., and its key domestic subsidiaries executed a fifth amendment to their senior credit agreement with a lender group led by JPMorgan Chase, extending the loan maturity fro...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.