Companies and Brands

Lego's Homerun Results

Lego heads
Dan Kitwood / Getty Images

Lego’s revenue reached $9.7 billion last year, up 2% from the previous year. However, management pointed out that growth well outpaced the competitive market. Operating income was $2.5 billion, another demonstration of how well the company manages its margins.

CEO Niels B. Christiansen commented, “We are pleased with our performance given that 2023 was the most negative toy market in more than 15 years. We continued to grow on top of three years of extraordinary growth and saw strong momentum in the final quarter of 2023. We significantly outpaced the market, growing share and proving the appeal of our strong, diverse portfolio and the LEGO® System in Play.”

Publicly traded peers Mattel, Hasbro, Funko, and Jakks Pacific had double-digit revenue and sales declines last year. (See which 15 toys were popular when baby boomers were kids.)

Among Lego’s strengths is its nearly 800 products. It continues to churn out new products, which accounted for about half of its sales in the fiscal year. Another strength is its global reach. It does business in 120 countries.

CNBC reported on the strength of the company’s portfolio: “The toymaker’s top-performing brands last year included Lego Icons, Lego Technic, Lego City, Lego Harry Potter and Lego Star Wars. These kits range in size and difficulty, with the company saying the themes make it fun for children to learn building skills while providing a creative outlet for adults.”


Smart Investors Are Quietly Loading Up on These “Dividend Legends”

If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.

Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.