Hershey (HSY) FY2016 results: revenue $7.4 billion, up 0.7% on the year
Hershey Co. (HSY) reported revenue of $7.4 billion for fiscal 2016, the year ended 31 December 2016, up 0.7% on the year before. Net income was $720 million, up 40.4%. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2019.
Revenue
$7.4 billion
+0.7% on the year
FY2009FY2016
Operating margin
16.9%
14.6% a year earlier
FY2009FY2016
Net income
$720 million
+40.4% on the year
FY2009FY2016
Diluted EPS
n/a
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
7,440
7,387
7,422
+0.7%
Cost of revenue
4,271
4,004
4,086
+6.7%
Gross profit
3,170
3,383
3,336
-6.3%
Gross margin
42.6%
45.8%
45.0%
Research and development
47.3
49.3
47.6
-4.1%
Selling, general and administrative
1,891
1,945
1,901
-2.8%
Operating income
1,255
1,076
1,392
+16.7%
Operating margin
16.9%
14.6%
18.8%
Interest expense
91.9
109
87.6
-15.9%
Pre-tax income
1,099
902
1,306
+21.9%
Income tax
379
389
459
-2.4%
Effective tax rate
34.5%
43.1%
35.2%
Net income
720
513
847
+40.4%
Net margin
9.7%
6.9%
11.4%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,013
1,256
844
-19.3%
Capital expenditure
269
357
371
-24.5%
Free cash flow
744
900
474
-17.3%
Free cash flow margin
10.0%
12.2%
6.4%
Cash from investing
-595
-477
-863
Cash from financing
-464
-797
-719
Depreciation and amortisation
302
245
212
+23.2%
Share-based compensation
54.8
51.5
54.1
+6.3%
Buybacks
593
583
577
+1.7%
Dividends paid
499
476
440
+4.9%
Diluted shares, weighted
n/a
n/a
225m
Shares outstanding at period end
212m
217m
221m
-2.1%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
786
998
1,455
-21.3%
Non-controlling interest
41.8
49.5
64.5
-15.4%
Debt
2,980
2,421
2,178
+23.1%
Other liabilities
1,716
1,876
1,932
-8.5%
Total liabilities and equity
5,524
5,344
5,630
+3.4%
Fixed assets
2,177
2,240
2,152
-2.8%
Goodwill
812
684
793
+18.7%
Intangible assets
493
379
295
+29.9%
Investments
n/a
0.0
97.1
Cash and equivalents
297
347
375
-14.3%
Receivables
581
599
597
-3.0%
Inventory
746
751
801
-0.7%
Other assets
418
344
520
+21.6%
Total assets
5,524
5,344
5,630
+3.4%
10-K for the year ended 31 December 2016, filed 22 February 2019: the filing.