Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionFunko Inc. Class A Common Stock (FNKO)
Fair value (2 models)
Not available
ACCE price target
$6.80
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $6.83 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
53
out of 100
Analysts
50% buy
2 covering
1-year return
+117.5%
Dividend yield
0.00%
Funko Inc. Class A Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Funko designs and licenses collectible pop-culture figures, including its Funko Pop vinyl line, plus apparel and home goods, selling through retailers such as Walmart, Target and GameStop, its own site, and an in-house pipeline of licensed properties from film, TV and gaming. Its edge is the breadth of licenses it controls and a 42.2% gross margin, which reflects pricing power on a franchise with a long collector base. Revenue growth of 7.4% is the number to watch, and the question is whether it converts into operating profit, since the operating margin is still slightly negative at -1.6% and ROE is -1.0%. At a 10.6x forward P/E on a roughly $383M market cap, the stock is priced for a turnaround that has not yet shown up in the operating line, so the case rests on margin repair. Its score of 53/100 and absence from any major index mean it is a small, under-followed name that warrants a deeper look only if the next few quarters show operating leverage.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Earnings collapsing despite revenue growth
Revenue grew 7.4% year over year, but earnings fell 79.4%, and operating margin is -1.6% against a 42.2% gross margin, so costs are absorbing the sales gains.
high
Heavy free cash burn
Free cash flow was $-38,085,000 with debt-to-equity at 1.58, leaving little room to service debt without new borrowing or equity.
moderate
Elevated short interest
Short interest sits at 17.9% of float, a meaningful bet against the stock that can add volatility around any news.
moderate
Sharp sequential revenue drop
Revenue fell 26.4% quarter over quarter, which sits uneasily with the 6.8% five-year revenue CAGR and needs explaining.
AI research notes
AI-assisted·How I use AIWritten Oct 21, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 7.4% year over year, ahead of its 6.8% average annual pace over the last five years.
Analysts' mean price target of $7.25 sits 5.5% above the current share price, and half of covering analysts rate it Buy or Strong Buy.
Latest quarterly earnings beat expectations by 227.8%, with earnings per share of 0.23 against an expected loss of 0.18.
Why it could disappoint
Free cash flow over the last twelve months was negative at -$38M, so the business is consuming cash rather than generating it.
Return on invested capital of -11.5% shows the company is currently destroying value on the capital it deploys.
Debt is 1.58 times equity, and the diluted share count rose 4.5% last fiscal year, diluting existing holders.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 5, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where FNKO's valuation models land
Price
$6.83
Model fair valueConfidence: low
about $9.21
Model
Fair value
Upside
Analyst consensus
Sales comps
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Quality
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