Kartoon Studios (TOON)
Market Price (9/21/2026): $0.5701 | Market Cap: $37.7 MilSector: Communication Services | Industry: Movies & Entertainment
Kartoon Studios (TOON)
Market Price (9/21/2026): $0.5701Market Cap: $37.7 MilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 23%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 19%, FCF Yield is 69% Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -60% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 81%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 80% Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Social Media & Creator Economy. Themes include Video Streaming, and Creator Economy Monetization. | Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -134% | Penny stockMkt Price is 0.6 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -37% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -14%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -16%, Rev Chg QQuarterly Revenue Change % is -43% Key risksTOON key risks include [1] a precarious financial position with a high probability of distress, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 23%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 19%, FCF Yield is 69% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -60% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 81%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 80% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Social Media & Creator Economy. Themes include Video Streaming, and Creator Economy Monetization. |
| Weak multi-year price returns2Y Excs Rtn is -69%, 3Y Excs Rtn is -134% |
| Penny stockMkt Price is 0.6 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -37% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -14%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -16%, Rev Chg QQuarterly Revenue Change % is -43% |
| Key risksTOON key risks include [1] a precarious financial position with a high probability of distress, Show more. |
Qualitative Assessment
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Kartoon Studios (TOON) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Significant Decline in Core Revenue and Widening Operating Losses in Fiscal Q2 2026. Kartoon Studios reported a substantial 43% year-over-year decrease in revenue, falling to $5.8 million for fiscal Q2 2026, compared to $10.3 million in the prior-year period. This decline was primarily attributed to lower production services revenue and the timing of project activity at Mainframe Studios. Concurrently, the company's loss from operations widened to $3.4 million in fiscal Q2 2026, from a $3.2 million operating loss in the previous year's quarter, signaling a deterioration of core business performance.
2. Net Income Driven by Non-Recurring Litigation Settlement, Masking Operational Weaknesses. Despite reporting a net income of $27.0 million for fiscal Q2 2026, a significant improvement from a net loss of $(6.3) million in the prior-year period, this profitability was largely artificial. The positive net income was primarily a result of a non-recurring, non-operating gain of $39.2 million from litigation settlements. This reliance on a one-time gain rather than sustainable operating performance likely raised investor concerns about the company's underlying financial health.
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Kartoon Studios (TOON) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Significant Decline in Core Revenue and Widening Operating Losses in Fiscal Q2 2026. Kartoon Studios reported a substantial 43% year-over-year decrease in revenue, falling to $5.8 million for fiscal Q2 2026, compared to $10.3 million in the prior-year period. This decline was primarily attributed to lower production services revenue and the timing of project activity at Mainframe Studios. Concurrently, the company's loss from operations widened to $3.4 million in fiscal Q2 2026, from a $3.2 million operating loss in the previous year's quarter, signaling a deterioration of core business performance.
2. Net Income Driven by Non-Recurring Litigation Settlement, Masking Operational Weaknesses. Despite reporting a net income of $27.0 million for fiscal Q2 2026, a significant improvement from a net loss of $(6.3) million in the prior-year period, this profitability was largely artificial. The positive net income was primarily a result of a non-recurring, non-operating gain of $39.2 million from litigation settlements. This reliance on a one-time gain rather than sustainable operating performance likely raised investor concerns about the company's underlying financial health.
3. Investor Skepticism and Uncertainty Regarding Strategic Transformation. While Kartoon Studios announced a strategic transformation to focus on owning and commercializing high-value intellectual property, a letter to shareholders on September 8, 2026, detailing this pivot did not resonate well with investors. Analysts indicated a "deeply challenging growth outlook" over the next 3-5 years, citing no clear path to scaling its content library, platform, or IP monetization to meaningfully compete with peers. Investors also voiced concerns about past "empty promises" and the slow commercialization of new IP, further contributing to the stock's decline.
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Stock Movement Drivers
Fundamental Drivers
The -19.8% change in TOON stock from 5/31/2026 to 9/20/2026 was primarily driven by a -12.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.71 | 0.57 | -19.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 37 | 33 | -12.0% |
| P/S Multiple | 1.2 | 1.2 | -3.8% |
| Shares Outstanding (Mil) | 63 | 66 | -5.2% |
| Cumulative Contribution | -19.8% |
Market Drivers
5/31/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TOON | -19.8% | |
| Market (SPY) | 0.9% | 11.9% |
| Sector (XLC) | -4.2% | 11.7% |
Fundamental Drivers
The 0.0% change in TOON stock from 2/28/2026 to 9/20/2026 was primarily driven by a 64.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.57 | 0.57 | 0.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 39 | 33 | -16.5% |
| P/S Multiple | 0.7 | 1.2 | 64.6% |
| Shares Outstanding (Mil) | 48 | 66 | -27.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
2/28/2026 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TOON | 0.0% | |
| Market (SPY) | 11.6% | 13.8% |
| Sector (XLC) | -5.8% | 11.8% |
Fundamental Drivers
The -28.0% change in TOON stock from 8/31/2025 to 9/20/2026 was primarily driven by a -27.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312025 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 0.79 | 0.57 | -28.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 38 | 33 | -13.9% |
| P/S Multiple | 1.0 | 1.2 | 15.8% |
| Shares Outstanding (Mil) | 48 | 66 | -27.7% |
| Cumulative Contribution | -28.0% |
Market Drivers
8/31/2025 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TOON | -28.0% | |
| Market (SPY) | 19.4% | 23.4% |
| Sector (XLC) | 0.5% | 18.7% |
Fundamental Drivers
The -63.7% change in TOON stock from 8/31/2023 to 9/20/2026 was primarily driven by a -51.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 8312023 | 9202026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.57 | 0.57 | -63.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 64 | 33 | -49.0% |
| P/S Multiple | 0.8 | 1.2 | 45.4% |
| Shares Outstanding (Mil) | 32 | 66 | -51.1% |
| Cumulative Contribution | -63.7% |
Market Drivers
8/31/2023 to 9/20/2026| Return | Correlation | |
|---|---|---|
| TOON | -63.7% | |
| Market (SPY) | 75.6% | 22.4% |
| Sector (XLC) | 68.8% | 17.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TOON Return | -24% | -56% | -70% | -58% | 22% | -20% | -96% |
| Peers Return | 13% | -44% | 48% | 34% | 14% | 6% | 53% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 103% |
Monthly Win Rates [3] | |||||||
| TOON Win Rate | 42% | 42% | 25% | 17% | 42% | 44% | |
| Peers Win Rate | 48% | 25% | 47% | 65% | 53% | 51% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| TOON Max Drawdown | -66% | -59% | -86% | -73% | -33% | -55% | |
| Peers Max Drawdown | -27% | -50% | -28% | -24% | -31% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NFLX, DIS, LYV, ROKU, FWONA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/18/2026 (YTD)
How Low Can It Go
| Event | TOON | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.7% | -18.8% |
| % Gain to Breakeven | 18.7% | 23.1% |
| Time to Breakeven | 9 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -15.7% | -7.8% |
| % Gain to Breakeven | 18.6% | 8.5% |
| Time to Breakeven | 675 days | 18 days |
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.1% | 50.9% |
| Time to Breakeven | 7 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -11.6% | -19.2% |
| % Gain to Breakeven | 13.2% | 23.8% |
| Time to Breakeven | 6 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -65.3% | -12.2% |
| % Gain to Breakeven | 188.6% | 13.9% |
| Time to Breakeven | 125 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -64.3% | -6.8% |
| % Gain to Breakeven | 180.0% | 7.3% |
| Time to Breakeven | 124 days | 15 days |
In The Past
Kartoon Studios's stock fell -15.7% during the 2025 US Tariff Shock. Such a loss loss requires a 18.7% gain to breakeven.
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Asset Allocation
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| Event | TOON | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -30.1% | -33.7% |
| % Gain to Breakeven | 43.1% | 50.9% |
| Time to Breakeven | 7 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -65.3% | -12.2% |
| % Gain to Breakeven | 188.6% | 13.9% |
| Time to Breakeven | 125 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -64.3% | -6.8% |
| % Gain to Breakeven | 180.0% | 7.3% |
| Time to Breakeven | 124 days | 15 days |
| 2013 Taper Tantrum | ||
| % Loss | -59.1% | -0.2% |
| % Gain to Breakeven | 144.7% | 0.2% |
| Time to Breakeven | 79 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -50.0% | -17.9% |
| % Gain to Breakeven | 100.0% | 21.8% |
| Time to Breakeven | 7 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -50.0% | -15.4% |
| % Gain to Breakeven | 100.0% | 18.2% |
| Time to Breakeven | 7 days | 125 days |
In The Past
Kartoon Studios's stock fell -15.7% during the 2025 US Tariff Shock. Such a loss loss requires a 18.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Kartoon Studios (TOON)
Kartoon Studios Inc. (TOON) is a content and brand management company focused on the creation, production, licensing, and broadcasting of educational and multimedia animated content primarily for children globally. The company, formerly known as Genius Brands International, Inc., manages a diverse portfolio of intellectual properties (IPs) within the children's entertainment sector and also operates its own cartoon channel across various platforms.
The company's main products and services revolve around popular animated series. This includes developing and producing its own original shows like "Ukulele U," "Team Zenko Go!," "Rainbow Rangers," and "Shaq's Garage." In addition to its proprietary content, Kartoon Studios also manages and licenses well-known third-party IPs such as "Cocomelon," "Barbie Productions," and "Octonauts," extending their reach and commercial viability through consumer products and broadcasting rights. The company also acts as a licensing agent for other popular brands, including "Llama Llama" and "Castlevania."
Kartoon Studios primarily serves a broad range of partners including broadcasters, global online streaming platforms, and consumer products licensees who bring its animated characters and stories to children worldwide. Its ultimate market is children across the globe, accessing content through television, streaming services, and a variety of licensed merchandise.
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A smaller-scale Disney or Nickelodeon, focused on creating, distributing, and licensing children's animated content.
Like DreamWorks Animation, but with a stronger emphasis on managing and licensing a diverse portfolio of children's brands, and operating its own cartoon channel.
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Major Products
- Ukulele U: A live-action IP preschool music series.
- Team Zenko Go!: A preschool computer-animated children's streaming television series.
- Rainbow Rangers: An animated series about the adventures of seven magical girls.
- Guava Juice: A 2D animated IP series.
- Shaq's Garage: A children's animated series about secret adventures.
- Cocomelon: Provides 3D animation videos of traditional nursery rhymes and children's songs.
- Eggventurers: A preschool animated series.
- Animated Barbie Series: Animated content produced related to the Barbie brand.
- Octonauts: A children's television series based on children's books.
- Roblox Rumble: An elimination-style competitive reality series.
- Spin Master Content: Animated content developed related to Spin Master Productions.
- Madagascar Content: Animated content derived from the popular movie franchise.
- Bee & PuppyCat: An animated series for which the company also acts as a licensing agent.
Major Services
- Cartoon Channel Operation: The company operates a cartoon channel accessible across various platforms.
- Content Licensing Agency: Acts as a licensing agent for various intellectual properties.
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Kartoon Studios (TOON) primarily sells its content and licensing rights to other companies rather than directly to individuals. Its major customers, as described, fall into the following categories:
- Broadcasters
- Consumer Products Licensees
- Online Platforms
The company description does not provide specific names of individual customer companies within these categories.
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Mattel (MAT)
Sony Group Corporation (SONY)
Roblox Corporation (RBLX)
Spin Master Corp. (TOY.TO)
Comcast Corporation (CMCSA)
WildBrain (WILD)
Konami Holdings Corporation (KNMCY)
Moonbug Entertainment
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Andy Heyward, Chairman & Chief Executive Officer
Andy Heyward is an Emmy Award-winning producer recognized for creating more episodes of children's television than any other producer. He is the founder of Kartoon Studios (originally Genius Brands International), which was formed in 2013 from the merger of A Squared Entertainment (which he co-founded) and Genius Brands. Previously, Heyward served as Chairman and CEO of DIC Entertainment. He led a buyout of DIC Entertainment in 1986 and later sold a majority interest in the company to Capital Cities/ABC in 1993, which was subsequently acquired by The Walt Disney Company in 1996. In 2000, he re-purchased DIC Entertainment with two venture capital firms and sold it to Cookie Jar Group in 2008. His notable works include co-creating Inspector Gadget and producing series such as Captain Planet and the Planeteers and The Real Ghostbusters.
Brian Parisi, Chief Financial Officer
Brian Parisi was appointed Chief Financial Officer of Kartoon Studios in September 2023. He brings 30 years of experience across the entertainment, media, and high-tech industries, specializing in finance, accounting, M&A, corporate strategy, and business development. Prior to joining Kartoon Studios, Mr. Parisi served as the Chief Financial Officer at Break the Floor Productions, an entertainment production company, where he notably prepared the company for sale and successfully completed two separate transactions with private equity firms. His career also includes roles as Chief Financial Officer at the NFL Hall of Fame Village and leadership positions at Live Nation Entertainment Inc., Warner Bros. Entertainment, and Universal Studios.
Michael Jaffa, Chief Operating Officer, General Counsel and Corporate Secretary
Michael Jaffa serves as the Chief Operating Officer, General Counsel, and Corporate Secretary for Kartoon Studios.
Todd Steinman, President of Toon Media Networks Worldwide
Todd Steinman is the President of Toon Media Networks Worldwide at Kartoon Studios. He is an accomplished growth marketing executive with extensive B2B and B2C experience. Before joining Kartoon Studios, Mr. Steinman served as Vice President in the Direct to Consumer and International division at The Walt Disney Company, a role that included his involvement during the launch of Disney+. He also co-founded M80, a digital media agency that was later acquired by GroupM/WPP, and held various roles at Warner Bros. Records.
Michael Hefferon, President & CCO, Mainframe Studios
Michael Hefferon is the President & CCO of Mainframe Studios. He possesses over 30 years of experience in the entertainment industry as a content creator, producer, and studio head, having created and produced more than 900 half-hours of children's series and feature films.
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- Reliance on Key Intellectual Properties and Licensing Agreements: Kartoon Studios' business model is heavily dependent on the creation, production, and licensing of a portfolio of animated content and brands, including acting as a licensing agent for various IPs. The company’s financial performance is significantly tied to the continued popularity and success of these intellectual properties and its ability to secure and renew favorable licensing agreements with broadcasters, consumer product licensees, and online platforms. A decline in the popularity of key IPs, the loss of significant licensing deals, or the inability to create new successful content could materially impact revenues and profitability.
- Intense Competition and Rapidly Evolving Consumer Preferences: The children's entertainment and content market is highly competitive and dynamic, with numerous large, well-established players and constant shifts in audience tastes and preferences. Kartoon Studios must continuously invest in high-quality content, marketing, and distribution to attract and retain viewers and licensing partners. Failure to anticipate or adapt to changing trends, or intense competition for audience attention and licensing opportunities, could hinder its ability to grow and maintain market share.
- Dependence on Distribution Platforms and Changing Media Consumption Habits: Kartoon Studios operates a cartoon channel across various platforms and distributes its content through broadcasters and online platforms. The company's reach and revenue are therefore reliant on the terms and accessibility of these third-party distribution channels. Shifts in children's media consumption habits, such as a migration away from traditional broadcast or specific online platforms, or changes in platform policies or algorithms, could negatively affect the company's ability to reach its target audience and monetize its content.
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The clear emerging threat for Kartoon Studios is the increasing shift in children's entertainment consumption from passively watching animated content towards actively participating, creating, and socializing within interactive, user-generated virtual worlds and metaverse platforms (e.g., Roblox, Minecraft, Fortnite). As children dedicate more of their leisure time and engagement to these immersive, co-creative digital environments, the demand for traditional, professionally produced animated series, which forms the core of Kartoon Studios' content creation and licensing business, could be fundamentally diminished. This represents a potential disruption in the very nature of children's entertainment, moving beyond a change in delivery platform to a change in the form of engagement itself, akin to how Netflix challenged the passive consumption of Blockbuster's rentals or YouTube disrupted traditional linear television viewing.
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Kartoon Studios Inc. (TOON) operates within several significant global addressable markets related to children's entertainment and content licensing.
Children's Animation and Drama Content
The global market for kids' animation shows and drama was valued at approximately USD 7.21 billion by the end of 2025 and is projected to reach USD 12.14 billion by 2033, growing at a compound annual growth rate (CAGR) of 6.733% from 2025 to 2033.
Another estimate places the global kids animation show and drama market size at USD 7.61 billion in 2026, expected to rise to USD 11.9 billion by 2035 with a CAGR of 5.09%. Similarly, it was reported as USD 7.24 billion in 2025, projected to reach USD 10.77 billion by 2034, exhibiting a CAGR of 5.09%. This market encompasses animated shows (2D, 3D, stop motion), live-action series, feature films, and web series for target audiences including preschool, early childhood, and tweens.
Overall Animation Production
The broader global animation market, which includes various types of animation beyond just children's content, was estimated at USD 372.30 billion in 2024 and is expected to reach USD 462.32 billion in 2025. Other research suggests the global animation production market size was approximately USD 465.44 billion in 2025 and is projected to grow to about USD 4.3 trillion by 2034, with a CAGR of 5.17%. The animation production market is also valued at USD 489.51 billion in 2026 and is expected to reach USD 770.52 billion by 2035, growing at a CAGR of 5.17%. Children's animation accounts for 55% of animation production, with 1,320 titles launched globally in 2023.
Entertainment Licensing
The global entertainment licensing market reached USD 363.3 billion by the end of 2025 and is projected to grow to USD 603.069 billion by 2033, demonstrating a CAGR of 6.54% from 2025 to 2033. North America holds a significant share, accounting for 41.20% of the global market revenue in 2025.
A specific segment within licensing, the licensed toy market, is projected to grow from USD 31.7 billion in 2025 to USD 50.1 billion by 2035, at a CAGR of 4.7% globally.
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Kartoon Studios (TOON) is anticipated to drive future revenue growth over the next two to three years through several key initiatives:
- New Premium Intellectual Property (IP) Launches and Monetization: Kartoon Studios is poised for significant growth from the global launch of "Hundred Acre Wood's Winnie & Friends" in 2026, which had a global preview in Christmas Eve 2025. This new franchise is expected to be a major growth driver with substantial revenue and licensing potential. Additionally, the "Stan Lee Universe" is preparing for expanded distribution, collectibles, and consumer products in 2026, leveraging its more than 30-million global fan base as a significant global licensing and franchise opportunity across media, consumer products, and collectibles.
- Growth of Mainframe Studios' Production Services: Mainframe Studios, Kartoon Studios' animation production division, has consistently shown strong performance, reporting record quarters with year-over-year revenue surges. The studio benefits from multi-year contracts with major entertainment partners such as Sony, Disney, Netflix, SpinMaster, and PBS, providing reliable production visibility through 2027. The expansion of Mainframe Studios' production backlog and securing new contracts are expected to drive recurring revenue and ensure long-term visibility. Mainframe Studios achieved profitability in the first quarter of 2025, with over 90% of its 2025 revenue budget already under contract.
- Expansion and Monetization of Toon Media Networks: The company's Toon Media Networks, which includes Kartoon Channel!, Ameba, and Frederator, is a significant growth driver. Kartoon Channel! achieved its strongest month ever in October 2025, reaching all-time highs in subscription revenue, subscriber growth, and total watch time. The platform continues to scale globally across various distribution models, including AVOD, SVOD, FAST, and linear television, reaching audiences in over 60 international territories. Kartoon Channel! has also consistently been rated as the number one kids' streaming app on the Apple App Store, outperforming competitors like Netflix, YouTube Kids, Disney+, and PBS Kids. The streaming business of Kartoon Channel! achieved profitability in the first quarter of 2024.
- Artificial Intelligence (AI) Animation Initiatives: Kartoon Studios is actively developing and implementing Artificial Intelligence animation initiatives, including its 'STAN A.I.' unit. These AI initiatives are strategically designed to reduce production costs while simultaneously increasing content output and accelerating development speed. The company is integrating AI and machine learning across multiple business units to enhance efficiency, utilizing platforms like Nvidia's Omniverse.
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Share Repurchases
- Kartoon Studios announced a strategic share retirement that included 348,127 shares being retired to enhance shareholder value and reduce shares outstanding.
- In October 2022, Genius Brands International (now Kartoon Studios) repurchased 419,336 shares of common stock at $1.99 per share in a private transaction.
- The company's Q2 2025 financial summary indicated ongoing share repurchase activity.
Share Issuance
- In April 2024, Kartoon Studios completed the initial closing of a registered direct offering for up to $7.0 million, issuing 3,900,000 shares of common stock and 100,000 pre-funded warrants.
- The number of shares outstanding for Kartoon Studios increased by 23.38% year-over-year.
Inbound Investments
- Kartoon Studios secured approximately $7.3 million in equity financing from a single institutional investor in October 2025, aimed at fueling global content rollouts and expansion.
- In December 2024, ARMISTICE CAPITAL, LLC acquired 4,607,156 shares of Kartoon Studios Inc. at $0.59 per share, establishing a 9.99% position in the company.
Outbound Investments
- In 2022, Kartoon Studios acquired Canada's WOW! Unlimited Media.
- Also in 2022, Kartoon Studios made a strategic investment to become the largest shareholder in Germany's Your Family Entertainment AG (FRA:RTV).
Capital Expenditures
- In the trailing twelve months, capital expenditures for Kartoon Studios were -$163,000.
- Capital expenditures were reported at $117,000, which consumed most of the -$3.5 million in operating cash flow for a relevant period.
- Projected expenses for new productions in 2024 were about $10 million, focused on investments in digital platforms and content creation.
Peer Outperformance in Movies & Entertainment
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Wireless Telecommunication Services | 3 | -15.1% | 26.4% | 41.6% | ECHO 262% · TMUS 42% · SHEN -60% |
| Publishing | 5 | 21.6% | 20.2% | 18.4% | NYT 49% · NWSA 40% · SCHL 18% |
| Integrated Telecommunication Services | 21 | -16.1% | 3.2% | -25.7% | IQST 1481% · GSAT 229% · AD 154% |
| Movies & Entertainment ← | 24 | -1.1% | 72.3% | -34.3% | IMAX 221% · MSGS 128% · BATRA 116% |
| Alternative Carriers | 4 | 29.6% | 15.9% | -42.7% | IRDM 14% · UNIT -41% · LUMN -45% |
| Advertising | 19 | -18.5% | -10.1% | -61.8% | APP 316% · EVC 50% · OMC 29% |
| Broadcasting | 15 | -13.8% | -21.2% | -68.8% | FOXA 85% · NXST 26% · WBD 11% |
| Interactive Media & Services | 30 | -38.1% | -35.1% | -71.0% | GOOGL 154% · META 88% · EVER 13% |
| Interactive Home Entertainment | 8 | -51.8% | -55.1% | -87.6% | TTWO 41% · RBLX -39% · PINS -65% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 94.20 |
| Mkt Cap | 30.8 |
| Rev LTM | 15,741 |
| Op Inc LTM | 650 |
| FCF LTM | 1,088 |
| FCF 3Y Avg | 1,265 |
| CFO LTM | 1,770 |
| CFO 3Y Avg | 1,788 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.5% |
| Rev Chg 3Y Avg | 13.0% |
| Rev Chg Q | 8.1% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Inc Chg LTM | 12.1% |
| Op Inc Chg 3Y Avg | 32.6% |
| Op Mgn LTM | 8.7% |
| Op Mgn 3Y Avg | 7.4% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 19.3% |
| CFO/Rev 3Y Avg | 14.9% |
| FCF/Rev LTM | 16.1% |
| FCF/Rev 3Y Avg | 11.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Content Production and Distribution | 35 | 28 | 39 | 57 | 3 |
| Media Advisory and Advertising Services | 4 | 5 | 5 | 5 | 5 |
| Total | 39 | 33 | 44 | 62 | 8 |
| $ Mil | 2025 |
|---|---|
| Share-Based Compensation | -0 |
| Impairment of Intangible Assets | -1 |
| Media Advisory and Advertising Services | -2 |
| Depreciation Expense | -3 |
| Content Production and Distribution | -7 |
| Total | -13 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Media Advisory and Advertising Services | -2 | 0 | -1 | -9 | -3 |
| Content Production and Distribution | -22 | -21 | -76 | -37 | -123 |
| Total | -25 | -21 | -77 | -46 | -126 |
Price Behavior
| Market Price | $0.57 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 08/28/2009 | |
| Distance from 52W High | -54.4% | |
| 50 Days | 200 Days | |
| DMA Price | $0.61 | $0.67 |
| DMA Trend | down | down |
| Distance from DMA | -6.7% | -15.1% |
| 3M | 1YR | |
| Volatility | 53.8% | 63.9% |
| Downside Capture | 268.98 | 187.99 |
| Upside Capture | -25.59 | 111.36 |
| Correlation (SPY) | 5.2% | 23.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.62 | 0.44 | 0.75 | 0.69 | 1.15 | 0.96 |
| Up Beta | -0.70 | 0.75 | 3.18 | 1.87 | 1.71 | 0.56 |
| Down Beta | -6.12 | -0.56 | -1.21 | -1.15 | 0.01 | 0.92 |
| Up Capture | 48% | 12% | 33% | 80% | 112% | 80% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 8 | 17 | 28 | 59 | 112 | 321 |
| Down Capture | -78% | 118% | 97% | 85% | 139% | 109% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 13 | 25 | 36 | 68 | 138 | 398 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TOON | |
|---|---|---|---|---|
| TOON | -31.3% | 63.7% | -0.35 | - |
| Sector ETF (XLC) | -5.8% | 15.4% | -0.59 | 19.2% |
| Equity (SPY) | 16.9% | 12.9% | 0.94 | 23.7% |
| Gold (GLD) | 19.1% | 29.3% | 0.60 | 12.3% |
| Commodities (DBC) | 46.3% | 20.6% | 1.73 | -6.6% |
| Real Estate (VNQ) | 4.9% | 13.6% | 0.10 | 9.4% |
| Bitcoin (BTCUSD) | -30.6% | 44.3% | -0.70 | 18.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TOON | |
|---|---|---|---|---|
| TOON | -47.8% | 74.8% | -0.55 | - |
| Sector ETF (XLC) | 6.7% | 21.0% | 0.23 | 25.0% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 25.2% |
| Gold (GLD) | 19.1% | 18.8% | 0.83 | 5.1% |
| Commodities (DBC) | 11.2% | 19.5% | 0.45 | 4.1% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 18.7% |
| Bitcoin (BTCUSD) | 12.5% | 52.5% | 0.42 | 18.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TOON | |
|---|---|---|---|---|
| TOON | -28.8% | 127.7% | 0.19 | - |
| Sector ETF (XLC) | 9.1% | 22.1% | 0.46 | 14.3% |
| Equity (SPY) | 15.1% | 18.0% | 0.72 | 13.3% |
| Gold (GLD) | 12.1% | 16.4% | 0.61 | 1.6% |
| Commodities (DBC) | 8.3% | 18.1% | 0.37 | 4.8% |
| Real Estate (VNQ) | 4.4% | 20.7% | 0.18 | 8.9% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 7.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 9/17/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/14/2026 | -2.1% | 0.6% | -10.2% |
| 5/15/2026 | -3.9% | -5.8% | 78.5% |
| 11/14/2025 | -7.2% | -9.7% | 8.1% |
| 8/14/2025 | -3.0% | -1.6% | 7.1% |
| 5/15/2025 | 17.4% | 28.0% | 23.8% |
| 11/14/2024 | -0.2% | -10.0% | -27.2% |
| 8/14/2024 | 2.8% | 5.0% | -2.3% |
| 6/21/2024 | -1.0% | 1.0% | -6.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 4 | 5 | 4 |
| # Negative | 7 | 6 | 7 |
| Median Positive | 4.9% | 5.0% | 16.0% |
| Median Negative | -3.0% | -7.7% | -10.2% |
| Max Positive | 17.4% | 28.0% | 78.5% |
| Max Negative | -14.9% | -25.8% | -33.3% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/14/2026 | -2.1% | 0.6% | -10.2% |
| 5/15/2026 | -3.9% | -5.8% | 78.5% |
| 11/14/2025 | -7.2% | -9.7% | 8.1% |
| 8/14/2025 | -3.0% | -1.6% | 7.1% |
| 5/15/2025 | 17.4% | 28.0% | 23.8% |
| 11/14/2024 | -0.2% | -10.0% | -27.2% |
| 8/14/2024 | 2.8% | 5.0% | -2.3% |
| 6/21/2024 | -1.0% | 1.0% | -6.9% |
| 4/9/2024 | 0.6% | -5.2% | -29.9% |
| 4/3/2023 | 7.0% | 5.1% | -6.2% |
| 8/17/2022 | -14.9% | -25.8% | -33.3% |
| SUMMARY STATS | |||
| # Positive | 4 | 5 | 4 |
| # Negative | 7 | 6 | 7 |
| Median Positive | 4.9% | 5.0% | 16.0% |
| Median Negative | -3.0% | -7.7% | -10.2% |
| Max Positive | 17.4% | 28.0% | 78.5% |
| Max Negative | -14.9% | -25.8% | -33.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/09/2024 | 10-K |
| 09/30/2023 | 11/17/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/22/2023 | 10-Q |
| 12/31/2022 | 04/13/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/14/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/31/2025 | 10-K |
| 09/30/2024 | 11/14/2024 | 10-Q |
| 06/30/2024 | 08/14/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 04/09/2024 | 10-K |
| 09/30/2023 | 11/17/2023 | 10-Q |
| 06/30/2023 | 08/14/2023 | 10-Q |
| 03/31/2023 | 05/22/2023 | 10-Q |
| 12/31/2022 | 04/13/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/17/2022 | 10-Q |
| 03/31/2022 | 05/16/2022 | 10-Q |
| 12/31/2021 | 04/06/2022 | 10-K |
| 09/30/2021 | 11/15/2021 | 10-Q |
| 06/30/2021 | 08/16/2021 | 10-Q |
| 03/31/2021 | 05/18/2021 | 10-Q |
| 12/31/2020 | 03/31/2021 | 10-K |
| 09/30/2020 | 11/16/2020 | 10-Q |
| 06/30/2020 | 08/14/2020 | 10-Q |
| 03/31/2020 | 05/18/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
Industry Resources
| Communication Services Resources |
| Variety |
| The Hollywood Reporter |
| Adweek |
| Movies & Entertainment Resources |
| Deadline |
| IndieWire |
| Screen Daily |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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