Funko, Inc.

Consumer Discretionary
Recreational Games/Products/Toys
www.funko.com

Earnings Score
Moat Score
Safety Score

Market Cap $604.29M
PE -24
Debt $150.79M
Cash $28.55M
EV $726.53M
FCF $72.48M

Earnings

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Sales & Net Margins

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Earnings	-$24.86M
EBIT	-$2.00M
ROE	-10%
ROA	-0%
FCF	$72.48M
Equity	$240.43M
Growth Stability	-1K%
PE	-24.31
PEG	-3.74
PB	2.51
P/FCF	8.34
P/S	0.58
Price/Cash	0.05
Debt/Equity	0.63
Debt/FCF	2.08
Net Margins	-2%
Gross Margins	40%
Op. Margins	-0%
Earnings CAGR	3%
Sales Growth YoY	-6%
Sales Growth QoQ	18%
Sales CAGR	13%
FCF CAGR	5%
Equity CAGR	3%
Earnings Stability	-0.05
Earnings Growth YoY	-128%
Earnings Growth QoQ	-15%

Earnings CAGR 5Y	7%
Sales CAGR 5Y	13%
FCF CAGR 5Y	1%
Equity CAGR 5Y	-6%
Earnings CAGR 3Y	-4%
Sales CAGR 3Y	-4%
FCF CAGR 3Y	2%
Equity CAGR 3Y	-24%
Market Cap	$604.29M
Revenue	$1.05B
Assets	$783.57M
Total Debt	$150.79M
Cash	$28.55M
Shares Outstanding	51.78M
EV	726.53M
Earnings Score	6%
Moat Score	14%
Safety Score	61%
Final Score	27%
Working Capital	-12.96M
Current Ratio	0.96
Gross Profit	$419.54M
Shares Growth 3y	11%
Equity Growth QoQ	6%
Equity Growth YoY	-1%

Assets & ROA

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Stockholders Equity & ROE

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Funko Inc is a US-based pop culture consumer products company. It creates whimsical, fun, and different products which enable the customer to express their affinity for their favorite through movie, TV show, video game, musician or sports team. The company holds licenses and the rights to create tens of thousands of characters including Game of Thornes, Walking Dead, Disney, Marvel, Harry Potter, Fallout, and others. Its products include Pop, Dorbz, Mystery Vinyl, Plush, Action Figures, and Others. The company sells its products through a diverse network of retail customers across multiple retail channels, including specialty retailers, mass-market retailers, and e-commerce sites.

SEC Filings

Direct access to Funko, Inc. (FNKO) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Funko, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Funko, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 3%

Stability -5%

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Funko, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Funko, Inc..

Years

Calculation mode

= $1B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$72M	$76M	$80M	$84M	$88M	$93M	$98M	$103M	$108M	$114M	$119M	$1.2B
DCF		$69M	$66M	$63M	$60M	$58M	$55M	$53M	$50M	$48M	$46M	$460M
Value	$1B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	6%	1%	1%	1%	1%	4%	-1%	-15%	-2%
ROA	8%	7%	10%	6%	3%	10%	-1%	-4%	-0%
ROE	12%	1%	3%	4%	1%	11%	-2%	-69%	-10%

Bad Net Margins (-1.81%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	7.72	-23.76	10.29	4.75	2.27	3.2	-1.99	-41.74	2.08
Debt over Equity	1	0.82	0.8	0.75	0.62	0.48	0.51	0.74	0.63
Growth Stability	-	-	-	88%	48%	100%	-40%	-1K%	-1K%

Neutral Debt/FCF ratio (2.08)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Good Debt/Equity ratio (0.63)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-1K%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	21%	33%	16%	-18%	58%	29%	-17%	13%
Earnings YoY growth	-	-86%	151%	25%	-66%	1K%	-118%	2K%	7%
Equity YoY growth	-	29%	5%	3%	6%	23%	-2%	-39%	-6%
FCF YoY growth	-	-134%	-338%	110%	83%	-33%	-267%	-96%	1%