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Hershey Co. (HSY)

Hershey was incorporated in Delaware on 24 October 1927 as successor to a business founded in 1894 by Milton S. Hershey. It sells chocolate, sweets, mints and other snacks under more than 85 brand names in approximately 65 countries, and calls itself the largest producer of quality chocolate in North America. It reports three segments: North America Confectionery, North America Salty Snacks and International. On 18 November 2025 it bought LesserEvil, a private maker of organic popcorn and puffed snacks sold in the United States and Canada, which it says complements the portfolio and adds manufacturing capacity; a year earlier it bought the Sour Strips candy brand from Actual Candy.

Hershey Co.

Hershey was incorporated in Delaware on 24 October 1927 as successor to a business founded in 1894 by Milton S. Hershey. It sells chocolate, sweets, mints and other snacks under more than 85 brand names in approximately 65 countries, and calls itself the largest producer of quality chocolate in North America. It reports three segments: North America Confectionery, North America Salty Snacks and International. On 18 November 2025 it bought LesserEvil, a private maker of organic popcorn and puffed snacks sold in the United States and Canada, which it says complements the portfolio and adds manufacturing capacity; a year earlier it bought the Sour Strips candy brand from Actual Candy.

The segments

North America Confectionery covers the traditional chocolate and non-chocolate business in the United States and Canada, including gum and refreshment products, protein bars, spreads, snack bites and mixes, and pantry and food service lines. It also holds the retail operations, the Hershey's Chocolate World stores in Hershey, New York, Las Vegas, Niagara Falls and Singapore, and the licensing of certain trademarks and products to third parties around the world. North America Salty Snacks covers salty snacking in the United States, meaning ready-to-eat popcorn, baked and trans fat-free snacks, pretzels and other snacks. International groups the operating segments that are not individually material, with manufacturing in Mexico, Brazil, India and Malaysia mostly for those regions, plus confectionery sold into export markets across Asia, Latin America, the Middle East, Europe and Africa.

The brands

The chocolate range is marketed under Hershey's, Reese's and Kisses, alongside Jolly Rancher, Almond Joy, Brookside, barkTHINS, Cadbury, Good & Plenty, Heath, Kit Kat, Payday, Rolo, Twizzlers, Whoppers and York, with ONE protein bars and the Ice Breakers, Breath Savers and Bubble Yum gum and mint lines. Pantry items cover baking products, toppings and sundae syrups under Hershey's, Reese's, Heath and Lily's, plus Hershey's and Reese's chocolate spreads and snack bites and mixes. Salty snacks are SkinnyPop and LesserEvil popcorn, Pirates Booty baked snacks and Dot's Homestyle Pretzels. Internationally the same brands are joined by regional ones such as Pelon Pelo Rico in Mexico, IO-IO snacks in Brazil and Sofit beverages in India.

Who buys and how it reaches them

Customers are mainly wholesale distributors, chain grocery stores, mass merchandisers, chain drug stores, vending companies, wholesale clubs, convenience stores, dollar stores, concessionaires and department stores, and all but the wholesalers resell to consumers in retail outlets. In 2025 approximately 27% of consolidated net sales went to McLane Company, one of the largest wholesale distributors in the United States to convenience stores, drug stores, wholesale clubs and mass merchandisers and the primary distributor of Hershey products to Walmart. The company puts its marketing on brand equity, product innovation and product quality, spending on identifying, developing, testing, making and marketing new products, and running promotional programmes aimed at customers and advertising aimed at consumers.

Cocoa and the other inputs

Cocoa products, meaning cocoa liquor, butter and powder processed from cocoa beans, are the main raw materials in its chocolate, bought from third-party suppliers who source beans grown mainly in Far Eastern, West African and Central and South American regions, West Africa accounting for approximately 70% of world supply. The filing notes that climate, extreme weather, crop disease and political unrest in producing countries have caused price swings but have never wiped out a country's crop or exports, and that other countries and physical stocks would buffer a large disruption. A trading company in Switzerland handles all of the cocoa procurement, covering price risk management, physical supply and sustainable sourcing oversight, with a focus on real-time access to market intelligence. The company also uses substantial quantities of sugar, corn products, Class II and IV dairy products, wheat products, peanuts, almonds and energy, mostly bought from United States suppliers for its domestic and Canadian operations.

Pricing, competition and people

Prices and product weights change to accommodate input costs, the competitive environment and profit objectives, with those changes helping to offset rises in raw and packaging materials, fuel, utilities, transportation and employee benefits. Its markets are highly competitive, against multinational, national, regional and local firms and large private companies and retailers, and the filing states that competition turns on product innovation, quality, price, brand recognition and loyalty, marketing, the ability to satisfy consumer preferences, convenience and service. Sales are typically higher in the third and fourth quarters on seasonal and holiday patterns, and since the company manufactures mainly for stock and fills orders within a few days, unfilled orders are not material. At 31 December 2025 it employed approximately 17,550 full-time and 2,045 part-time people worldwide, with collective bargaining agreements covering approximately 28% of them.

From Hershey's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Hershey became

Latest results

Latest quarterQ3 FY2026ended 27 September 2026 · 10-Q filed 29 October 2026
Revenue
$3.3 billion
+3.0% on the year · +17.5% on the quarter
Q4 FY2024Q3 FY2026
Net income
$581 million
+110.2% on the year · +26.9% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$2.88
+111.8% on the year · +27.4% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 17 February 2026
Revenue
$11.7 billion
+4.4% on the year
FY2018FY2025
Net income
$883 million
-60.2% on the year
FY2018FY2025
Diluted EPS
$4.34
-60.3% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsHershey (HSY) reported revenue of $11.7 billion for fiscal 2025, the year ended 31 December 2025, up 4.4% on the year before. Net income was $883 million and diluted earnings per share $4.34. Revenue was $11.2 billion in fiscal 2024, $11.2 billion in fiscal 2023, $10.4 billion in fiscal 2022 and $9.0 billion in fiscal 2021. Net income in the same years was $2.2 billion, $1.9 billion, $1.6 billion and $1.5 billion. Over the twelve months to 27 September 2026, Hershey reported revenue of $12.3 billion and net income of $1.8 billion. Revenue grew 7.5% a year, compounded, over the five years to fiscal 2025. Hershey had 203 million shares outstanding at the latest filed count. At 27 September 2026 it carried $5.1 billion of debt and $677 million of cash. At the close of 6 November 2026 the market cap of Hershey was $36.1 billion, 20.1 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE36.8%
ROCE25.5%
Operating margin20.8%
Net margin14.6%
FCF margin17.3%
Interest cover11.5x
Debt to equity1.05x
Cash conversion1.43x
Share count, last 12 monthsn/a
Sales CAGR, 3 years3.9%
Profit CAGR, 3 years-18.7%
EPS, TTM$8.84

At the close of 6 November 2026

Price$178.05
Market cap$36.1 billion
Stock P/E20.1x
Price to book7.4x
EV / EBITDA13.2x
Dividend yieldn/a
Market cap / sales3.0x
52-week high$236.28
52-week low$157.60
Price, 1 year6.2%
Price CAGR, 3 years-1.7%
Price CAGR, 5 years0.3%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Hershey Co.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
HSYgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. 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. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,3262,6662,3732,7282,6522,9882,4903,0302,6573,2532,0742,9872,8882,8052,6153,1813,0913,1042,7873,276
Cost of revenue1,3131,4211,3731,6201,5081,6051,3581,6701,5341,5771,2411,7551,3291,8611,8182,1441,9461,8811,5241,764
Gross profit1,0131,2451,0001,1081,1451,3821,1321,3601,1231,6768341,2331,5589447961,0371,1451,2231,2631,511
Gross margin44%47%42%41%43%46%45%45%42%52%40%41%54%34%30%33%37%39%45%46%
SG&A553524543552616582572624659618541592623559603601698576621693
Operating income4597214575575278005617364641,058288613939369193435445641643818
Operating margin20%27%19%20%20%27%23%24%17%33%14%21%33%13%7%14%14%21%23%25%
Interest expense30.433.533.836.036.739.440.241.840.141.644.346.641.850.657.359.257.754.855.853.2
Pre-tax income343677403473363759440653320986246519723324149372370593588768
Tax rate1%21%22%16%-9%23%7%21%-9%19%26%14%-10%31%58%26%13%27%22%24%
Net income33653331639939658740751934979718144679722462.7276320435458581
Net margin14%20%13%15%15%20%16%17%13%25%9%15%28%8%2%9%10%14%16%18%
Diluted EPS$1.62$2.57$1.53$1.94$1.92$2.85$1.98$2.52$1.70$3.89$0.89$2.20$3.92$1.10$0.31$1.36$1.57$2.13$2.26$2.88
Operating cash flow679656457446768755294516758569326695942397112842927469419751
Capital expenditure14814199.911915917615421822321313012813514685.185.913811589.8101
Free cash flow53151535732760857914029853535619556780725127.1756788354329650
Buybacks0.02031520.033.72400.00.025.04940.00.00.00.00.00.00.069.33700.0
Dividends paid181181180207207207206238238273271270270272271271271288286285
Shares outstanding206mn/an/an/a205mn/an/an/a204mn/an/an/a202mn/an/an/a203mn/an/an/a
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

Income statement (profit and loss)

FY2007FY2008FY2009FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4,9475,1335,2995,6716,0816,6447,1467,4227,3877,4407,5157,7917,9868,1508,97110,41911,16511,20211,69312,258
Cost of revenue3,3153,3753,2463,2563,5493,7843,8654,0864,0044,2714,0604,2164,3644,4484,9235,9216,1675,9017,7707,116
Gross profit1,6321,7582,0532,4152,5322,8603,2813,3363,3833,1703,4553,5753,6223,7014,0494,4994,9985,3013,9235,142
Gross margin33.0%34.2%38.7%42.6%41.6%43.0%45.9%45.0%45.8%42.6%46.0%45.9%45.4%45.4%45.1%43.2%44.8%47.3%33.5%41.9%
Research and developmentn/a28.128.131.133.239.047.647.649.347.345.938.537.137.640.146.950.055.861.7n/a
Selling, general and administrative8961,0731,2091,4261,4781,7041,9231,9011,9451,8911,8851,8751,9061,8912,0012,2362,4372,3742,4612,588
Operating income4595907629051,0551,7081,3381,3921,0761,2551,3131,6241,5961,7832,0442,2612,5612,8981,4422,546
Operating margin9.3%11.5%14.4%16.0%17.4%25.7%18.7%18.8%14.6%16.9%17.5%20.8%20.0%21.9%22.8%21.7%22.9%25.9%12.3%20.8%
Interest expensen/an/an/a97.794.898.591.587.610991.9100147152153130140162174225221
Pre-tax income3404926718099631,0161,2511,3069021,0991,1111,4101,3811,4951,7971,9172,1722,4741,2142,319
Income tax126181235299334355431459389379354239234220314272310253331525
Effective tax rate37.1%36.7%35.0%37.0%34.7%34.9%34.4%35.2%43.1%34.5%31.9%17.0%16.9%14.7%17.5%14.2%14.3%10.2%27.3%22.6%
Net income1843114285106226618208475137207831,1781,1501,2791,4781,6451,8622,2218831,794
Net margin3.7%6.1%8.1%9.0%10.2%9.9%11.5%11.4%6.9%9.7%10.4%15.1%14.4%15.7%16.5%15.8%16.7%19.8%7.6%14.6%
Diluted EPSn/an/an/an/an/an/an/an/an/an/a$3.66$5.58$5.46$6.11$7.11$7.96$9.06$10.92$4.34$8.84
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree 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.

Revenue by segment FY2012 to FY2025

Hershey runs its business by region, so its segments are regions. Revenue by region, below, is a separate split the 10-K also files.

FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
North America Confectioneryn/an/an/an/an/an/an/a6,8157,0857,6828,5369,1239,1199,48081.1%
North America Salty Snacksn/an/an/an/an/an/an/a4104385551,0291,0931,1361,27110.9%
Internationaln/an/an/an/an/an/an/a7616277338539499489428.1%
International and Other8329461,069918907894889n/an/an/an/an/an/an/an/a
North America5,8136,2006,3536,4686,5336,6216,902n/an/an/an/an/an/an/an/a
North America Confectionery FY2019 to FY2025North America Salty Snacks FY2019 to FY2025International FY2019 to FY2025North America FY2012 to FY2018International and Other FY2012 to FY2018
7.1FY20137.4FY20157.5FY20178.0FY20199.0FY202111.2FY202311.7FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Profit by segment FY2012 to FY2025

The operating profit each segment reports. Costs Hershey does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
North America Confectioneryn/an/an/an/an/an/an/a2,1202,2752,4762,8113,1172,9462,49426.3%
North America Salty Snacksn/an/an/an/an/an/an/a50.875.810116015819924119.0%
Internationaln/an/an/an/an/an/an/a50.5-0.074.21081481123.30.4%
International and Other51.444.640.0-98.1-29.1-11.573.8n/an/an/an/an/an/an/an/a
North America1,6561,8631,9162,0742,040-2,0442,020n/an/an/an/an/an/an/an/a
North America Confectionery FY2019 to FY2025North America FY2012 to FY2018North America Salty Snacks FY2019 to FY2025International and Other FY2012 to FY2018International FY2019 to FY2025
1,907FY20131,976FY2015-2,056FY20172,222FY20192,651FY20213,424FY20232,738FY2025

$ million; the figure over a bar is all the segments together; a year a segment lost money, it hangs below the line. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
North America Confectionery81%91%
North America Salty Snacks11%9%
International8%under 1%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by region FY2012 to FY2025

FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
United States5,4505,8325,9976,1166,1976,2646,5366,7237,0437,8089,1219,7529,77110,25287.7%
Othern/a1,3141,4251,2701,2431,2521,2551,2641,1071,1641,2981,4131,4311,44112.3%
Other Country1,194n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
United StatesOther FY2013 to FY2025Other Country FY2012
7.1FY20137.4FY20157.5FY20178.0FY20199.0FY202111.2FY202311.7FY2025

$ billion; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

First forecast against the result

Hershey's sales growth landed at or above the top of the range in 2 and under it in 2 of the 4 years shown (FY2012 to FY2015).

+4.7FY2012+4.7FY2013−4.3FY2014−12.5FY2015
  • At or above the top of the range
  • Inside the range
  • Under the range

Each bar is the year's result against the top of its first forecast range, in percentage points. Hover a bar for the figures.

Fiscal yearFirst forecast
sales growth		Result
FY20125% to 7%11.7%
FY20135% to 7%11.7%
FY20145% to 7%2.7%
FY20155.5% to 7.5%-5%
FY2026 forecast
Sales growth 4% to 5%, given 5 February 2026. Its result comes with the fourth-quarter results for FY2026.
First forecast
The full-year range the company gave with its fourth-quarter results for the year before, before any later change to it.
Result
The figure the company reported for that year with its next fourth-quarter results.
Years left out
Where the forecast or the result could not be read with confidence. Each figure in the table links to the results release it comes from.

Cash flow

FY2007FY2008FY2009FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow7795201,0669015881,0951,1918441,2561,0131,2501,6001,7641,7002,0832,3282,3232,5322,2772,565
Capital expenditure190263126180324259324371357269258329318442496519771606455443
Free cash flow5892579397222648368684749007449921,2711,4461,2581,5871,8081,5521,9261,8232,122
Free cash flow margin11.9%5.0%17.7%12.7%4.3%12.6%12.1%6.4%12.2%10.0%13.2%16.3%18.1%15.4%17.7%17.4%13.9%17.2%15.6%17.3%
Cash from investing-304-198-150-199-340-473-352-863-477-595-329-1,503-780-531-2,223-787-1,199-960-1,279-1,191
Cash from financingn/an/an/a-71.1-439-587-447-719-797-464-844116-1,081-499-681-1,416-1,148-1,297-803-1,868
Depreciation and amortisation311249182197216210201212245302262295292295315379420455504538
Share-based compensationn/a36.353.849.543.550.554.054.151.554.851.149.351.957.666.766.081.044.465.572.2
Buybacks25660.49.31693855113065775835933002485272114583892654940.0439
Dividends paid2522632632833043413944404764995265636106416867758891,0851,0851,131
Diluted shares, weightedn/a227m228,995230,313229,919228m227m225mn/an/a214m211m211m209m208m207m206m203m203m202m
Shares outstanding at period endn/a227m228m227m225m224m224m221m217m212m211m210m209m208m206m205m204m202m203mn/a
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe 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

FY2007FY2008FY2009FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity6243187209028571,0371,6051,4559987869151,3991,7392,2342,7573,3004,0994,7154,6374,876
Non-controlling interestn/a31.739.935.323.611.611.264.549.541.816.28.55.83.50.0n/an/an/an/an/a
Short-term borrowingsn/a48324.124.1n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Debtn/a1,5061,5181,8031,8881,9071,9622,1782,4212,9802,9204,4584,2664,6035,0294,7914,8145,1025,4035,126
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.0184182311295277305286252
Finance lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/an/a75.675.965.669.270.568.169.070.4
Other liabilitiesn/a1,2961,3731,5081,6431,8001,7791,9321,8761,7161,7021,8381,8692,0342,2502,4942,6422,7573,3473,568
Total liabilities and equityn/a3,6353,6754,2734,4124,7555,3575,6305,3445,5245,5547,7038,1409,13210,41210,94911,90312,94713,74113,893
Owned
Fixed assetsn/a1,4591,4051,4381,5601,6741,8052,1522,2402,1772,1072,1302,1532,2852,5862,7703,3103,4593,5303,497
Goodwilln/a5555725245175885777936848128211,8011,9861,9882,6332,6072,6962,7062,9962,986
Intangible assetsn/a1111261231122151952953794933691,2781,3411,2952,0381,9661,8791,8742,4762,422
Investmentsn/an/an/an/an/an/a0.097.10.0n/an/an/an/an/an/an/an/an/an/an/a
Cash and equivalents12937.12548856947281,1193753472973805884931,144329464402731926677
Receivablesn/a4554103903994614785975995815885945696156717118248007301,113
Inventoryn/a5935205346496336608017517467537858159649891,1731,3411,2541,4291,609
Other assetsn/a4263893794824555245203444185365267838401,1661,2581,4512,1231,6551,589
Total assetsn/a3,6353,6754,2734,4124,7555,3575,6305,3445,5245,5547,7038,1409,13210,41210,94911,90312,94713,74113,893
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded4.7%7.5%3.9%6.7%
Profit growth, compounded5.6%-7.1%-18.7%31.9%
Return on equity, average60.0%43.0%37.2%19.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn 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.

Questions

What was Hershey's revenue in fiscal 2025?

Hershey (HSY) reported revenue of $11.7 billion for fiscal 2025, the year ended 31 December 2025, up 4.4% on the year before.

How much did Hershey earn in fiscal 2025?

Net income was $883 million for fiscal 2025, and diluted earnings per share $4.34.

What is Hershey's P/E ratio?

At the close of 6 November 2026, Hershey traded at 20.1 times its earnings over the twelve months to 27 September 2026.

What is Hershey's market cap?

The market cap of Hershey was $36.1 billion at the close of 6 November 2026.

How much debt does Hershey have?

At 27 September 2026 Hershey carried $5.1 billion of debt and $677 million of cash.

Peers: Food Products

CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Mondelez International, Inc. MDLZ$83.5 billion20.8215.3%13.7%6.0%0.823.1%
Hershey Co. HSY$36.1 billion20.1436.8%20.8%6.7%1.05n/a
Archer-Daniels-Midland Co. ADM$33.3 billion13.6410.4%n/a1.0%0.373.0%
Kraft Heinz Co. KHC$29.2 billionn/a-9.6%-13.4%-1.5%0.506.5%
Tyson Foods, Inc. TSN$21.0 billion36.853.2%2.3%2.9%0.44n/a
Bunge Global SA BG$19.1 billion16.667.1%n/a55.5%1.032.9%
General Mills Inc. GIS$19.0 billionn/a-12.0%-1.1%-4.5%1.836.9%
J.M. Smucker Co. SJM$13.9 billion61.004.0%9.0%5.1%1.173.4%
McCormick & Co. Inc. MKC$13.0 billion8.7621.3%13.4%13.2%0.723.9%
Hormel Foods Corp. HRL$12.1 billion34.834.4%4.7%0.7%0.365.3%
Tootsie Roll Industries Inc. TR$2.9 billion34.628.7%10.9%0.2%0.010.9%
John B. Sanfilippo & Son, Inc. JBSS$650 million11.4915.2%7.0%3.1%0.287.3%
All 35 in Food Products
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Mondelez International, Inc. MDLZ$83.5 billion20.8215.3%13.7%6.0%0.823.1%
Hershey Co. HSY$36.1 billion20.1436.8%20.8%6.7%1.05n/a
Archer-Daniels-Midland Co. ADM$33.3 billion13.6410.4%n/a1.0%0.373.0%
Kraft Heinz Co. KHC$29.2 billionn/a-9.6%-13.4%-1.5%0.506.5%
Tyson Foods, Inc. TSN$21.0 billion36.853.2%2.3%2.9%0.44n/a
Bunge Global SA BG$19.1 billion16.667.1%n/a55.5%1.032.9%
General Mills Inc. GIS$19.0 billionn/a-12.0%-1.1%-4.5%1.836.9%
J.M. Smucker Co. SJM$13.9 billion61.004.0%9.0%5.1%1.173.4%
McCormick & Co. Inc. MKC$13.0 billion8.7621.3%13.4%13.2%0.723.9%
Hormel Foods Corp. HRL$12.1 billion34.834.4%4.7%0.7%0.365.3%
Darling Ingredients Inc. DAR$7.9 billion13.5311.4%14.5%14.9%0.75n/a
Lamb Weston Holdings, Inc. LW$7.6 billion30.1914.1%7.8%2.6%2.172.7%
Smithfield Foods Inc. SFD$7.6 billion8.4712.8%7.6%-0.6%0.296.1%
Conagra Brands Inc. CAG$7.3 billionn/a-29.8%-15.2%-1.8%1.218.0%
Campbell's Co. CPB$6.9 billion17.6610.5%8.7%-5.0%1.856.7%
Pilgrims Pride Corp. PPC$6.8 billion21.138.3%3.4%-0.1%0.88n/a
Ingredion Inc. INGR$5.7 billion10.4312.4%11.3%-1.0%0.393.6%
Post Holdings, Inc. POST$3.6 billion15.269.5%9.6%6.2%2.48n/a
Beyond Meat, Inc. BYND$3.1 billionn/a509.4%-121.5%-14.1%5.77n/a
Freshpet, Inc. FRPT$3.1 billion25.5310.7%8.8%11.7%0.32n/a
Tootsie Roll Industries Inc. TR$2.9 billion34.628.7%10.9%0.2%0.010.9%
Marzetti Co. MZTI$2.9 billion16.5516.5%11.5%-0.9%0.193.8%
Utz Brands, Inc. UTZ$2.1 billionn/a-5.7%-1.1%0.5%1.32n/a
J&J Snack Foods Corp. JJSF$1.7 billionn/an/an/an/a0.033.5%
Flowers Foods Inc. FLO$1.4 billion25.774.2%2.7%2.5%1.4614.7%
Simply Good Foods Co. SMPL$1.1 billionn/a-10.7%-13.2%-6.5%0.24n/a
Bellring Brands, Inc. BRBR$1.1 billion6.44n/a13.3%5.9%n/an/a
Seneca Foods Corp. SENEA$1.0 billion8.7214.8%8.2%12.1%0.24n/a
John B. Sanfilippo & Son, Inc. JBSS$650 million11.4915.2%7.0%3.1%0.287.3%
Mama's Creations, Inc. MAMA$632 million78.914.4%4.5%53.9%0.03n/a
Vital Farms, Inc. VITL$409 millionn/a-8.1%-3.8%5.2%0.42n/a
Once Upon a Farm, PBC OFRM$389 millionn/an/an/an/a0.00n/a
Lifeway Foods, Inc. LWAY$327 million30.9412.9%6.5%25.6%0.26n/a
B&G Foods, Inc. BGS$204 millionn/a-17.9%3.6%-4.9%6.3826.5%
Medifast Inc. MED$143 millionn/a-22.7%-11.6%-30.3%0.000.0%
2 companies share its SEC industry code (Sugar & Confectionery Products); the rest are the names nearest in size in its wider industry, Food Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on HSY

Dividends$5.48 a share in FY2025
Filings18 in twelve months: 11 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 sales27 Form 144 notices in twelve months, $702.3 million; latest 16 September 2026
Options tapeput/call 0.73 by open interest at the 6 November 2026 close; the straddle prices a 3.3% move to 13 November 2026
13F holders1,421 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading811 sales and 3 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest8.8 million shares short, 6.51 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 5 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q27 September 202629 October 2026EDGAR
10-Q28 June 202630 July 2026EDGAR
10-Q29 March 202630 April 2026EDGAR
10-K31 December 202517 February 2026EDGAR
10-Q28 September 202530 October 2025EDGAR
10-Q29 June 202530 July 2025EDGAR
10-Q/A30 March 20253 July 2025EDGAR
10-Q/A30 March 202520 May 2025EDGAR
10-Q30 March 20251 May 2025EDGAR
10-K31 December 202418 February 2025EDGAR

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