Hershey (HSY) FY2015 results: revenue $7.4 billion, down 0.5% on the year
Hershey Co. (HSY) reported revenue of $7.4 billion for fiscal 2015, the year ended 31 December 2015, down 0.5% on the year before. Net income was $513 million, down 39.4%. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$7.4 billion
-0.5% on the year
FY2008FY2015
Operating margin
14.6%
18.8% a year earlier
FY2008FY2015
Net income
$513 million
-39.4% on the year
FY2008FY2015
Diluted EPS
n/a
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
7,387
7,422
7,146
-0.5%
Cost of revenue
4,004
4,086
3,865
-2.0%
Gross profit
3,383
3,336
3,281
+1.4%
Gross margin
45.8%
45.0%
45.9%
Research and development
49.3
47.6
47.6
+3.6%
Selling, general and administrative
1,945
1,901
1,923
+2.3%
Operating income
1,076
1,392
1,338
-22.7%
Operating margin
14.6%
18.8%
18.7%
Interest expense
109
87.6
91.5
+24.8%
Pre-tax income
902
1,306
1,251
-30.9%
Income tax
389
459
431
-15.3%
Effective tax rate
43.1%
35.2%
34.4%
Net income
513
847
820
-39.4%
Net margin
6.9%
11.4%
11.5%
$ million except per share. 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.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,256
844
1,191
+48.8%
Capital expenditure
357
371
324
-3.8%
Free cash flow
900
474
868
+89.9%
Free cash flow margin
12.2%
6.4%
12.1%
Cash from investing
-477
-863
-352
Cash from financing
-797
-719
-447
Depreciation and amortisation
245
212
201
+15.8%
Share-based compensation
51.5
54.1
54.0
-4.7%
Buybacks
583
577
306
+1.0%
Dividends paid
476
440
394
+8.1%
Diluted shares, weighted
n/a
225m
227m
Shares outstanding at period end
217m
221m
224m
-1.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
998
1,455
1,605
-31.4%
Non-controlling interest
49.5
64.5
11.2
-23.3%
Debt
2,421
2,178
1,962
+11.1%
Other liabilities
1,876
1,932
1,779
-2.9%
Total liabilities and equity
5,344
5,630
5,357
-5.1%
Fixed assets
2,240
2,152
1,805
+4.1%
Goodwill
684
793
577
-13.7%
Intangible assets
379
295
195
+28.6%
Investments
0.0
97.1
0.0
Cash and equivalents
347
375
1,119
-7.6%
Receivables
599
597
478
+0.4%
Inventory
751
801
660
-6.3%
Other assets
344
520
524
-33.9%
Total assets
5,344
5,630
5,357
-5.1%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.