Hershey (HSY) FY2021 results: revenue $9.0 billion, up 10.1% on the year
Hershey Co. (HSY) reported revenue of $9.0 billion for fiscal 2021, the year ended 31 December 2021, up 10.1% on the year before. Net income was $1.5 billion, up 15.5%, and diluted earnings per share $7.11. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.
Revenue
$9.0 billion
+10.1% on the year
FY2014FY2021
Operating margin
22.8%
21.9% a year earlier
FY2014FY2021
Net income
$1.5 billion
+15.5% on the year
FY2014FY2021
Diluted EPS
$7.11
+16.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,083
1,700
1,764
+22.5%
Capital expenditure
496
442
318
+12.3%
Free cash flow
1,587
1,258
1,446
+26.2%
Free cash flow margin
17.7%
15.4%
18.1%
Cash from investing
-2,223
-531
-780
Cash from financing
-681
-499
-1,081
Depreciation and amortisation
315
295
292
+6.8%
Share-based compensation
66.7
57.6
51.9
+15.8%
Buybacks
458
211
527
+116.8%
Dividends paid
686
641
610
+7.1%
Diluted shares, weighted
208m
209m
211m
-0.8%
Shares outstanding at period end
206m
208m
209m
-1.0%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
2,757
2,234
1,739
+23.4%
Non-controlling interest
0.0
3.5
5.8
Debt
5,029
4,603
4,266
+9.3%
Operating lease liabilities
311
182
184
+70.9%
Finance lease liabilities
65.6
75.9
75.6
-13.6%
Other liabilities
2,250
2,034
1,869
+10.6%
Total liabilities and equity
10,412
9,132
8,140
+14.0%
Fixed assets
2,586
2,285
2,153
+13.2%
Goodwill
2,633
1,988
1,986
+32.4%
Intangible assets
2,038
1,295
1,341
+57.3%
Cash and equivalents
329
1,144
493
-71.2%
Receivables
671
615
569
+9.1%
Inventory
989
964
815
+2.5%
Other assets
1,166
840
783
+38.9%
Total assets
10,412
9,132
8,140
+14.0%
10-K for the year ended 31 December 2021, filed 18 February 2022: the filing.