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Hershey Company (The) HSY

Indexes indicate stock being part of an index ,
Growth Flags show if company had growth for consecutive years ,
Insider Buys alert about insiders buying in the last 12 month

We limit data available in the Overview Report for users who do not have Powerpack

Get access to target analyst prices, predictions, compound annual growth rates and more than four years of historical data.

Insider Decisions

Total buys
0.45
Total sells
243.38
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy 3
Sell 1 2 1 2 3 6 11 9 10 11 11 4
Insider Ownership
1.91%

Capital & Financial Ratios

Market Cap
33,940.00
Revenue
12,163.91
Net Income
1,489.11
Free Cash Flow
2,154.56
Net Debt
4,819.47
Current Ratio
1.18
Debt/Equity
1.23
P/E ratio
22.55
P/S ratio
2.06
P/B ratio
5.49
Past 5Y EPS Growth
14.88%
This Y EPS Growth
34.60%
Next Y EPS Growth
16.42%
Next 5Y EPS Growth
18.94%
in millions of $

Dividends

Payout Ratio
0.48
Annual Dividend Rate
4.77
Annual Dividend Yield
2.47%
total individual payouts
2028 ‡‡‡‡‡
2027 ‡‡‡‡‡
2026 5.78
2025 5.48
2024 5.48
2023 4.46
2022 3.87
2021 3.41
2020 3.15
2019 2.99
2018 2.76
2017 2.55
2016 2.40
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 401.90 730.75 925.86 791.21
Receivables 823.62 800.40 729.55 907.37
Inventory 1,341.00 1,254.09 1,429.25 1,743.32
Other
2,912.10 3,759.46 3,588.90 3,956.24
2023 2024 2025 Q'26
Payables 1,086.18 1,159.18 1,255.70 1,400.82
ST’ Debt 1,024.90 1,911.94 721.87 925.71
Other
3,008.35 3,929.50 3,011.90 3,352.47
in millions of $

Compound Annual Growth

10y 5y 3y
Sales ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Cash Flow ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Earnings ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Book Value ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡

Revenue

Mar Jun Sep Dec Year
’26 3,104.17 2,787.31
’25 2,805.42 2,614.72 3,181.42 3,091.02
11,692.58
’24 3,252.75 2,074.48 2,987.49 2,887.54
11,202.26
’23 2,987.61 2,490.28 3,029.99 2,657.11
11,164.99
’22 2,666.22 2,372.58 2,728.15 2,652.34
10,419.29
’21 2,295.95 1,989.42 2,359.84 2,326.13
8,971.34
’20 2,037.32 1,707.33 2,219.83 2,185.24
8,149.72
in millions of $

Operating Cash Flow

Mar Jun Sep Dec Year
’26 468.81 419.32
’25 396.68 112.22 841.92 926.55
2,277.37
’24 569.13 325.61 695.25 941.60
2,531.60
’23 755.40 294.41 515.73 757.65
2,323.19
’22 656.47 457.31 446.42 767.64
2,327.84
’21 609.64 408.01 386.07 679.17
2,082.88
’20 246.09 367.95 481.22 604.39
1,699.66
in millions of $

Free Cash Flow

Mar Jun Sep Dec Year
’26 354.21 329.49
’25 251.16 (46.47) 755.99 788.47
1,749.15
’24 355.83 195.45 567.30 807.08
1,925.65
’23 579.30 140.00 297.64 535.14
1,552.08
’22 515.40 357.41 327.39 608.16
1,808.36
’21 495.17 294.88 266.22 530.74
1,587.01
’20 146.88 281.39 374.95 454.82
1,258.03
in millions of $

EPS

Mar Jun Sep Dec Year
’26 2.13 2.26
’25 1.10 0.31 1.36 1.57
4.34
’24 3.89 0.89 2.20 3.92
10.92
’23 2.85 1.98 2.52 1.70
9.06
’22 2.57 1.53 1.94 1.92
7.96
’21 1.90 1.45 2.14 1.62
7.11
’20 1.29 1.29 2.14 1.39
6.11

Target Price Range

High
‡‡‡‡‡
‡‡‡‡‡
Average
‡‡‡‡‡
‡‡‡‡‡
Low
‡‡‡‡‡
‡‡‡‡‡

Recommendation Rating

2.4
1
Buy
2
3
Hold
4
5
Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 190.93 178.82 166.69 140.13
Low Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 242.64 276.88 211.92 199.00
High Price
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 19,865 20,505 20,030 19,595
Employees
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 0.52 0.54 0.56 0.60
Revenue/Emp
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 10,419.29 11,164.99 11,202.26 11,692.58 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 43.18% 44.76% 47.32% 33.55%
Gross Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,917.07 2,171.86 2,473.94 1,214.21 ‡‡‡‡‡
EBT
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 18.40% 19.45% 22.08% 10.38% ‡‡‡ ‡‡‡ ‡‡‡
EBT Margin
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,644.82 1,861.79 2,221.24 883.26 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Net Income
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 378.96 419.82 455.26 503.70
Depreciation
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 50.69 54.53 55.19 57.63 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Revenue/Sh
‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡ ‡‡‡‡ 8.22 9.31 11.22 4.46 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡‡
Earnings/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 11.33 11.35 12.47 11.22
Cash Flow/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (2.53) (3.77) (2.99) (2.60) ‡‡‡ ‡‡‡ ‡‡‡
Capex/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 8.80 7.58 9.49 8.62
Free CF/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 16.05 20.02 23.23 22.85 ‡‡‡‡‡
Book Value/Sh
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 205.54 204.74 202.96 202.90 ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡
Shares
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 27.64 20.69 15.11 40.62 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
PE Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.48 3.52 3.07 3.16 ‡‡‡ ‡‡‡ ‡‡‡
PS Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 14.14 9.59 7.29 7.96 ‡‡‡ ‡‡‡ ‡‡‡
PB Ratio
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4.89 3.92 3.46 3.54 ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
EV/Sales
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 28.19 28.17 20.12 23.67
EV/FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 2,327.84 2,323.19 2,531.60 2,277.37 ‡‡‡ ‡‡‡ ‡‡‡
Op' Cash Flow
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (519.48) (771.11) (605.94) (528.22) ‡‡‡‡‡ ‡‡‡‡‡
Capex
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 1,808.36 1,552.08 1,925.65 1,749.15 ‡‡‡‡‡
FCF
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ (636.75) (96.25) (170.04) 577.00
Working Cap'
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4,791.35 4,814.03 5,102.15 5,403.07
Total Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 4,327.46 4,412.13 4,371.41 4,477.21
Net Debt
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 3,299.54 4,099.09 4,714.65 4,636.75
Sh' Equity
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 15.40% 16.29% 17.88% 6.62% ‡‡‡‡‡
ROA
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 18.53% 18.81% 19.94% 9.89%
ROIC
‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ ‡‡‡‡‡ 54.31% 50.33% 50.40% 18.89% ‡‡‡‡‡
ROE
predictions in italic, sparklines do not include predictions

Analyst Commentary (Summary)

Hershey (HSY), the enduring chocolate giant behind Kisses and Reese’s, has powered through the past decade with resilient 5% revenue CAGR, reaching $11.2 billion in 2024 via savvy acquisitions, pricing power, and indulgent demand. Yet, storm clouds gather: 2025 gross margins are forecast to crater to 33.6% from 47.3%, hammered by cocoa prices quadrupling amid West African woes, alongside volume softness from price-fatigued consumers and a wave of insider selling outpacing buys by 50x.

Profitability metrics dazzle historically—EPS tripling to $11.22, FCF per share up 172%—but projections scream caution, with EBT margins halving to 10.4% and net income flipping to zero in 2025 before a 2026 rebound. Shares trade at compressed multiples (15x PE), holding firm defensively, with analyst targets hinting 7% mean upside, 20% high-end potential, or 26% downside peril.

This analysis unpacks Hershey’s operational fortress against commodity tempests, insider signals echoing past cycles, and asymmetric opportunities for dividend hunters—brace for 2025 chop, but eye the post-trough surge like 2020’s snacking boom.

Hershey Company (The) (HSY) Latest News

News by impact score

Fine-tune

9 Sep

3 , 10:29 AM
Hershey faces strong demand for salty snacks but supply may lag in meeting orders. Strong demand signals growth potential while supply delays pose short-term operational risk.

1 Sep

3 , 6:12 PM
Hershey is adding new creme bars and coffee products to expand its brand portfolio and attract broader consumer interest. New creme bars and coffee launches represent incremental product innovation with moderate potential to influence sales and positioning.

26 Aug

3 , 12:05 PM
Hershey questions if Q2 margin rebound can continue amid pricing pressures that reduce volumes. Pricing pressures may constrain Hershey volume growth and limit margin sustainability going forward.

3 , 12:00 PM
Hershey earnings rebound while valuation stays high, prompting assessment of whether the stock is a buy. Rebounding earnings with high valuation moderately affect investor sentiment and near-term stock trajectory.

23 Aug

4 , 12:03 PM
Speculation emerges on Hershey pursuing acquisition of Mondelez as potential major deal. Potential Mondelez acquisition represents major strategic move that could significantly alter Hershey trajectory.

21 Aug

3 , 2:14 PM
Hershey loses market share to Mars-led competition with tougher comparisons expected ahead per RBC. Market share losses to Mars signal competitive pressure that may affect Hershey sales and positioning.

3 , 11:16 AM
RBC highlights concerns that Hershey is losing market share. Market share losses can reduce revenue and pressure stock performance.

20 Aug

3 , 3:08 PM
Hershey expands its Halloween product lineup using data analytics in a move that could shift its core snack strategy. Data-led Halloween lineup expansion may moderately affect product innovation and seasonal sales without fundamentally altering long-term trajectory.

12 Aug

3 , 4:29 AM
HSY shows two positive factors supporting its position alongside one negative element that may weigh on performance. Mixed signals point to moderate effects on operations and market view without major trajectory shifts.

3 Aug

3 transcript www.fool.com, 8:15 PM
Hershey (HSY) released its Q2 2026 earnings call transcript covering financial results, segment performance, and management outlook. Quarterly earnings and forward guidance typically produce moderate short-term share price movement without fundamentally altering long-term strategy.

2 Aug

3 , 7:08 AM
Hershey raised its outlook despite volume weakness, leading to questions on whether the stock represents a bargain at current levels. Raised outlook amid volume weakness creates moderate shifts in Hershey's near-term market sentiment and valuation views.

1 Aug

3 , 2:27 AM
Hershey reports Q2 supply chain advances and innovation gains that offset commodity price swings. Supply chain progress and innovation provide measurable operational resilience against input cost volatility.

31 Jul

3 www.marketbeat.com, 7:04 AM
Hershey Q2 earnings call covered revenue, profit metrics, segment performance and management outlook on costs and demand. Quarterly earnings and guidance typically move near-term valuation but rarely alter long-term strategy.

30 Jul

4 transcript www.fool.com, 9:15 PM
Hershey (HSY) released its Q2 2026 earnings call transcript detailing financial results, operational updates, and forward outlook. Q2 2026 earnings figures and guidance directly shape near-term valuation and investor positioning.

4 transcript , 5:05 PM
Hershey reported strong confection demand in its Q2 2026 earnings call, with cocoa market conditions also discussed as key factors. Strong confection demand points to solid revenue growth potential that can shift Hershey's performance trajectory.

4 , 12:56 PM
Hershey raised the lower end of its full-year growth outlook after beating second-quarter expectations. Raising full-year growth outlook after a quarterly beat strengthens revenue projections and lifts investor sentiment.

4 qz.com, 9:48 AM
Hershey beat Q2 2026 earnings expectations and raised its full-year outlook. Earnings beat paired with raised annual guidance signals stronger financial results and improved investor outlook.

4 transcript www.marketbeat.com, 8:03 AM
Hershey Q2 earnings call highlighted revenue, EPS results, segment performance, cost pressures, and updated full-year guidance with management commentary on volume trends and strategic priorities. Q2 results and forward guidance from the call directly shape near-term financial expectations and investor positioning for Hershey.

3 transcript app.moby.co, 10:00 PM
Hershey Company held its Q2 2026 earnings call covering financial performance, sales trends, and forward guidance for the period. Quarterly earnings results and guidance typically influence near-term stock movement without altering long-term strategy.

3 , 11:16 AM
Hershey Q2 earnings exceeded estimates due to pricing actions and margin gains. Earnings beat reflects pricing power and margin strength but signals no fundamental long-term trajectory change.

3 www.independent.co.uk, 10:33 AM
Hershey achieves higher profits from growth in salty snacks sales. Salty snacks drive profit gains that moderately improve financial performance.

3 , 9:30 AM
Hershey (HSY) Q2 earnings results are compared to estimates with focus on key metrics. Q2 earnings metrics versus estimates directly affect short-term stock valuation and investor views on performance.

3 , 8:49 AM
Hershey reports upbeat Q2 CY2026 earnings. Upbeat quarterly results signal better than expected sales and profits that can lift near-term stock sentiment.

3 , 6:45 AM
Hershey reported second-quarter 2026 financial results. Quarterly earnings release delivers financial metrics that can shift near-term investor views and stock movement.

29 Jul

3 , 12:09 PM
Hershey (HSY) approaches Q2 earnings amid softer demand and split views on valuation. Softer demand ahead of earnings points to possible pressure on financial results and near-term sentiment.

3 , 8:37 AM
Hershey (HSY) Q2 earnings preview outlines expected financial results, revenue trends, and key metrics investors should monitor ahead of the report release. Earnings preview details upcoming quarterly results that may shift near-term investor sentiment and stock valuation.

3 , 8:07 AM
Anticipation is altering US Halloween timing and consumer purchases, shifting candy demand patterns for seasonal peaks that directly affect confectionery volumes. Halloween drives a major share of annual chocolate sales, so any reshaping of seasonal anticipation can moderately sway near-term revenue and inventory planning.

28 Jul

3 , 11:54 AM
RBC Capital Markets states Hershey is likely to miss Q2 revenue estimates due to soft consumption data. Prediction of Q2 revenue miss from weak consumption data signals moderately noticeable pressure on Hershey financial performance and stock sentiment.

23 Jul

3 , 10:00 AM
Hershey (HSY) earnings are expected to grow, prompting questions on whether investors should buy the stock. Anticipated earnings growth could moderately influence stock valuation and investor sentiment.

6 Jul

3 www.barchart.com, 6:32 AM
Hershey prepares to report quarterly earnings with analyst focus on sales growth, cocoa cost pressures, and volume trends expected to shape near-term stock reaction. Preview sets earnings expectations that can move sentiment but lacks actual results or strategic shifts.