Hershey Co. (HSY)

Name: Hershey Co. (HSY): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Hershey Co. (HSY) reported revenue of $2.8 billion for Q2 FY2026, the quarter ended 28 June 2026, up 6.6% on the same quarter a year earlier. Net income was $458 million, up 629.7% on the year. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$2.8 billionup 6.6%

Net income$458 millionup 629.7%

Diluted EPSn/a

QuarterQ2 FY2026ended 28 June 2026

Ratios

From the filings

ROE32.6%

ROCE22.2%

Operating margin17.8%

Net margin12.2%

FCF margin18.3%

Interest cover9.51

Debt to equity1.14

Cash conversion1.78

Share count, 1 yearn/a

Sales CAGR, 3 years3.9%

Profit CAGR, 3 years-18.7%

EPS, TTMn/a

At the close of 21 September 2026

Price$167.90

Market cap$34.1 billion

Stock P/En/a

Price to book7.46

EV / EBITDA14.28

Dividend yieldn/a

Market cap / sales2.80

52-week high$236.28

52-week low$162.31

Price, 1 year-11.7%

Price CAGR, 3 years-6.9%

Price CAGR, 5 years-0.5%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Hershey Co. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on HSY

Filings	19 in twelve months: 12 current reports (8-K), about 5 results of operations; 4 officer or director change; 3 regulation fd disclosure; 1 shareholder vote; 1 charter or bylaw amendment, or fiscal year change
Planned insider sales	29 Form 144 notices in twelve months, $702.6 million; latest 16 September 2026
Options tape	put/call 0.93 by open interest on 23 September 2026; the straddle prices a 2.2% move to 25 September 2026
Holders	9 of the followed funds hold it; largest Geode Capital Management; 4 Schedule 13D or 13G filings in twelve months
Insider trading	408 sales and 0 purchases on Form 4 in twelve months
Congress	1 House trade disclosed in six months
Short interest	9.1 million shares short, 8.59 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	3,030	2,657	3,253	2,074	2,987	2,888	2,805	2,615	3,181	3,091	3,104	2,787
Cost of revenue	1,670	1,534	1,577	1,241	1,755	1,329	1,861	1,818	2,144	1,946	1,881	1,524
Gross profit	1,360	1,123	1,676	834	1,233	1,558	944	796	1,037	1,145	1,223	1,263
Gross margin	45%	42%	52%	40%	41%	54%	34%	30%	33%	37%	39%	45%
SG&A	624	659	618	541	592	623	559	603	601	698	576	621
Operating income	736	464	1,058	288	613	939	369	193	435	445	641	643
Operating margin	24%	17%	33%	14%	21%	33%	13%	7%	14%	14%	21%	23%
Interest expense	41.8	40.1	41.6	44.3	46.6	41.8	50.6	57.3	59.2	57.7	54.8	55.8
Pre-tax income	653	320	986	246	519	723	324	149	372	370	593	588
Tax rate	21%	-9%	19%	26%	14%	-10%	31%	58%	26%	13%	27%	22%
Net income	519	349	797	181	446	797	224	62.7	276	320	435	458
Net margin	17%	13%	25%	9%	15%	28%	8%	2%	9%	10%	14%	16%
Operating cash flow	516	758	569	326	695	942	397	112	842	927	469	419
Capital expenditure	218	223	213	130	128	135	146	85.1	85.9	138	115	89.8
Free cash flow	298	535	356	195	567	807	251	27.1	756	788	354	329
Buybacks	0.0	25.0	494	0.0	0.0	0.0	0.0	0.0	0.0	0.0	69.3	370
Dividends paid	238	238	273	271	270	270	272	271	271	271	288	286
Shares outstanding	n/a	204m	n/a	n/a	n/a	202m	n/a	n/a	n/a	203m	n/a	n/a
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Revenue	7,422	7,387	7,440	7,515	7,791	7,986	8,150	8,971	10,419	11,165	11,202	11,693	12,164
Cost of revenue	4,086	4,004	4,271	4,060	4,216	4,364	4,448	4,923	5,921	6,167	5,901	7,770	7,496
Gross profit	3,336	3,383	3,170	3,455	3,575	3,622	3,701	4,049	4,499	4,998	5,301	3,923	4,668
Gross margin	45.0%	45.8%	42.6%	46.0%	45.9%	45.4%	45.4%	45.1%	43.2%	44.8%	47.3%	33.5%	38.4%
Research and development	47.6	49.3	47.3	45.9	38.5	37.1	37.6	40.1	46.9	50.0	55.8	61.7	n/a
Selling, general and administrative	1,901	1,969	1,891	1,885	1,875	1,906	1,891	2,001	2,236	2,437	2,374	2,461	2,495
Operating income	1,392	1,038	1,255	1,313	1,624	1,596	1,783	2,044	2,261	2,561	2,898	1,442	2,163
Operating margin	18.8%	14.0%	16.9%	17.5%	20.8%	20.0%	21.9%	22.8%	21.7%	22.9%	25.9%	12.3%	17.8%
Interest expense	87.6	109	91.9	100	147	152	153	130	140	162	174	225	227
Pre-tax income	1,306	902	1,099	1,111	1,410	1,381	1,495	1,797	1,917	2,172	2,474	1,214	1,922
Income tax	459	389	379	354	239	234	220	314	272	310	253	331	433
Effective tax rate	35.2%	43.1%	34.5%	31.9%	17.0%	16.9%	14.7%	17.5%	14.2%	14.3%	10.2%	27.3%	22.5%
Net income	847	513	720	783	1,178	1,150	1,279	1,478	1,645	1,862	2,221	883	1,489
Net margin	11.4%	6.9%	9.7%	10.4%	15.1%	14.4%	15.7%	16.5%	15.8%	16.7%	19.8%	7.6%	12.2%
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Operating cash flow	844	1,256	1,013	1,250	1,600	1,764	1,700	2,083	2,328	2,323	2,532	2,277	2,657
Capital expenditure	371	357	269	258	329	318	442	496	519	771	606	455	428
Free cash flow	474	900	744	992	1,271	1,446	1,258	1,587	1,808	1,552	1,926	1,823	2,228
Free cash flow margin	6.4%	12.2%	10.0%	13.2%	16.3%	18.1%	15.4%	17.7%	17.4%	13.9%	17.2%	15.6%	18.3%
Depreciation and amortisation	212	245	302	262	295	292	295	315	379	420	455	504	529
Share-based compensation	54.1	51.5	54.8	51.1	49.3	51.9	57.6	66.7	66.0	81.0	44.4	65.5	69.3
Buybacks	577	583	593	300	248	527	211	458	389	265	494	0.0	439
Dividends paid	440	476	499	526	563	610	641	686	775	889	1,085	1,085	1,117
Diluted shares, weighted	225m	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding at period end	221m	217m	212m	211m	210m	209m	208m	206m	205m	204m	202m	203m	n/a
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015 †	FY2016 †	FY2017 †	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	TTM
Total assets	5,630	5,344	5,524	5,554	7,703	8,140	9,132	10,412	10,949	11,903	12,947	13,741	13,973
Cash and equivalents	375	347	297	380	588	493	1,144	329	464	402	731	926	791
Receivables	597	599	581	588	594	569	615	671	711	824	800	730	907
Inventory	801	751	746	753	785	815	964	989	1,173	1,341	1,254	1,429	1,743
Goodwill	793	684	812	821	1,801	1,986	1,988	2,633	2,607	2,696	2,706	2,996	2,986
Long-term debt	1,793	2,057	2,348	2,361	3,260	4,234	4,529	4,089	4,098	4,094	3,795	5,185	5,189
Long-term debt including finance leases	1,542	1,557	2,347	2,061	3,254	3,531	4,090	4,087	3,344	3,789	3,190	4,681	4,685
Operating lease liabilities	n/a	n/a	n/a	n/a	0.0	184	182	311	295	277	305	286	262
Finance lease liabilities	n/a	n/a	n/a	n/a	n/a	75.6	75.9	65.6	69.2	70.5	68.1	69.0	70.3
Shareholders' equity	1,455	998	786	915	1,399	1,739	2,234	2,757	3,300	4,099	4,715	4,637	4,563
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	4.7%	7.5%	3.9%	7.7%
Profit growth, compounded	5.6%	-7.1%	-18.7%	-2.7%
Return on equity, average	60.0%	43.0%	37.2%	19.0%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

Filing	Period	Filed	Where
10-Q	28 June 2026	30 July 2026	EDGAR
10-Q	29 March 2026	30 April 2026	EDGAR
10-K	31 December 2025	17 February 2026	EDGAR
10-Q	28 September 2025	30 October 2025	EDGAR
10-Q	29 June 2025	30 July 2025	EDGAR
10-Q/A	30 March 2025	3 July 2025	EDGAR
10-Q/A	30 March 2025	20 May 2025	EDGAR
10-Q	30 March 2025	1 May 2025	EDGAR
10-K	31 December 2024	18 February 2025	EDGAR
10-Q	29 September 2024	7 November 2024	EDGAR

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