Saturday 17 October 2026 Export HSY’s income statement to Excel — free account

Hershey Company (The)

Hershey Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $11.7 billion, up 4.38% from fiscal 2024. In the quarter to June 2026, revenue grew 6.60%, EPS grew 869.2%, free cash flow grew 809.1% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for twenty-five consecutive years, revenue growth for ten; insiders bought in the last twelve months.

170.74 2.06 +1.22%

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Market cap: $33.9B
P/E: 18.9×
Fwd P/E: 23.0×
Dividend yield: 3.35%
F-score: 5/9
Altman Z: 4.24
Beneish M: −2.79
Dividend safety: 57/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Impairment Feb 17, 2026

All filings →

Insider Decisions trades per month

Total buys 0.45

Total sells 275.90

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	3	—	—	—	—	—	—	—	—	—	—	—
Sell	2	1	2	3	6	11	9	10	11	11	8	4

Insider Ownership 1.81%

Capital & Financial Ratios $m

Market Cap 33,890.00

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 18.87

Fwd P/E 23.00

P/S ratio 2.07

P/B ratio 5.52

Past 5Y EPS Growth (6.61%)

This Y EPS Growth 34.50%

Next Y EPS Growth 16.19%

Next Y revenue growth 5.13%

Next 5Y EPS Growth 18.28%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 13.56%

10-year low 10-year high

P/S against its own 10 years 0.92%

10-year low 10-year high

P/B against its own 10 years 3.87%

10-year low 10-year high

EV/Sales against its own 10 years 0.96%

10-year low 10-year high

EV/FCF against its own 10 years 0.92%

10-year low 10-year high

Dividends

Payout Ratio 0.78

Annual Dividend Rate 5.73

Annual Dividend Yield 3.35%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	5.78	1.45 1.45 1.45
2025	5.48	1.37 1.37 1.37 1.37
2024	5.48	1.37 1.37 1.37 1.37
2023	4.46	1.04 1.04 1.19 1.19
2022	3.87	0.90 0.90 1.04 1.04
2021	3.41	0.80 0.80 0.90 0.90
2020	3.15	0.77 0.77 0.80 0.80
2019	2.99	0.72 0.72 0.77 0.77
2018	2.76	0.66 0.66 0.72 0.72
2017	2.55	0.62 0.62 0.66 0.66
2016	2.40	0.58 0.58 0.62 0.62

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	402	731	926	791
Receivables	824	800	730	907
Inventory	1,341	1,254	1,429	1,743
Other	—	—	—	—
	2,912	3,759	3,589	3,956

	2023	2024	2025	Q'26
Payables	1,086	1,159	1,256	1,401
ST’ Debt	1,025	1,912	722	926
Other	—	—	—	—
	3,008	3,929	3,012	3,352

Compound Annual Growth %

	10y	5y	3y
Sales	4.70%	7.49%	3.92%
Cash Flow	6.13%	6.03%	(0.73%)
Earnings	5.58%	(7.13%)	(18.72%)
Book Value	16.04%	15.68%	12.01%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,104	2,787	—	—	—
’25	2,805	2,615	3,181	3,091	11,693
’24	3,253	2,074	2,987	2,888	11,202
’23	2,988	2,490	3,030	2,657	11,165
’22	2,666	2,373	2,728	2,652	10,419
’21	2,296	1,989	2,360	2,326	8,971
’20	2,037	1,707	2,220	2,185	8,150

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	469	419	—	—	—
’25	397	112	842	927	2,277
’24	569	326	695	942	2,532
’23	755	294	516	758	2,323
’22	656	457	446	768	2,328
’21	610	408	386	679	2,083
’20	246	368	481	604	1,700

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	354	329	—	—	—
’25	251	(46)	756	788	1,749
’24	356	195	567	807	1,926
’23	579	140	298	535	1,552
’22	515	357	327	608	1,808
’21	495	295	266	531	1,587
’20	147	281	375	455	1,258

Fiscal quarters ending in the months shown.

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

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	82.42	101.61	89.10	100.80	109.88	143.58	190.93	178.82	166.69	140.13	Analyst estimates 2026–2028 Powerpack
	High	117.79	116.49	114.63	162.20	161.83	194.01	242.64	276.88	211.92	199.00
People
People	Employees	17,980	16,910	16,420	16,140	16,880	18,990	19,865	20,505	20,030	19,595
	Revenue/emp, $m	0.41	0.44	0.47	0.49	0.48	0.47	0.52	0.54	0.56	0.60
Income, $m
Income, $m	Revenue	7,440	7,515	7,791	7,986	8,150	8,971	10,419	11,165	11,202	11,693
	Gross margin, %	42.60	45.98	45.89	45.36	45.42	45.13	43.18	44.76	47.32	33.55
	EBT	1,099	1,111	1,410	1,381	1,495	1,797	1,917	2,172	2,474	1,214
	EBT margin, %	14.78	14.78	18.10	17.29	18.34	20.03	18.40	19.45	22.08	10.38
	Net income	720	757	1,171	1,147	1,275	1,483	1,645	1,862	2,221	883
	Depreciation	306	471	295	292	295	315	379	420	455	504
Per share, $
Per share, $	Revenue	34.74	35.41	37.10	38.13	39.10	43.40	50.69	54.53	55.19	57.63
	Earnings	3.45	3.79	5.76	5.64	6.30	7.34	8.22	9.31	11.22	4.46
	Cash flow	4.73	5.89	7.62	8.42	8.15	10.08	11.33	11.35	12.47	11.22
	Capex	(1.24)	(1.18)	(1.33)	(1.52)	(2.12)	(2.40)	(2.53)	(3.77)	(2.99)	(2.60)
	Free cash flow	3.49	4.71	6.29	6.90	6.04	7.68	8.80	7.58	9.49	8.62
	Book value	3.87	4.39	6.70	8.33	10.74	13.34	16.05	20.02	23.23	22.85
	Shares, m	214	212	210	209	208	207	206	205	203	203
Valuation, ×
Valuation, ×	P/E	30.21	29.90	18.61	26.06	24.31	26.32	27.64	19.17	14.15	40.62
	P/S	2.99	3.17	2.89	3.85	3.90	4.46	4.48	3.52	3.07	3.16
	P/B	26.89	25.54	15.99	17.64	14.19	14.51	14.14	9.59	7.29	7.96
	EV/Sales	3.35	3.50	3.39	4.33	4.32	4.98	4.89	3.92	3.46	3.54
	EV/FCF	33.36	26.35	19.96	23.90	27.99	28.16	28.19	28.17	20.12	23.67
Cash, $m
Cash, $m	Operating cash flow	1,013	1,250	1,600	1,764	1,700	2,083	2,328	2,323	2,532	2,277
	Capex	(266)	(250)	(279)	(318)	(442)	(496)	(519)	(771)	(606)	(528)
	Free cash flow	748	999	1,321	1,446	1,258	1,587	1,808	1,552	1,926	1,749
Balance, $m
Balance, $m	Working capital	(93)	(75)	(179)	108	1,086	(247)	(637)	(96)	(170)	577
	Total debt	2,980	2,920	4,458	4,266	4,603	5,029	4,791	4,814	5,102	5,403
	Net debt	2,683	2,540	3,870	3,773	3,459	4,700	4,327	4,412	4,371	4,477
	Shareholders’ equity	828	932	1,407	1,745	2,238	2,757	3,300	4,099	4,715	4,637
Returns, %
Returns, %	ROA	13.25	14.14	17.77	14.51	14.81	15.12	15.40	16.29	17.88	6.62
	ROIC	22.34	23.64	19.23	18.08	19.56	17.13	18.53	18.81	19.94	9.89
	ROE	76.80	89.01	100.70	72.94	64.21	59.16	54.31	50.33	50.40	18.89

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
MDLZ Mondelez International, Inc.	$80.5B	23.3×	21.3×	+4.13% (above 0%: growing)	+146.94% (above 0%: growing)	+5,060.00% (above 0%: growing)	42.61%	20.80%	Compare
HSY Hershey Company (The)	$33.9B	18.9×	23.0×	+6.60% (above 0%: growing)	+869.16% (above 0%: growing)	+809.05% (above 0%: growing)	45.32%	23.06%
TR Tootsie Roll Industries, Inc.	$2.9B	29.8×	38.6×	−0.56% (below 0%: shrinking)	−22.75% (below 0%: shrinking)	−116.74% (below 0%: shrinking)	34.13%	(1.05%)	Compare
SOWG Sow Good Inc.	$41.6M	— (loss-making)	—	−56.30% (below 0%: shrinking)	n/m	−406.71% (below 0%: shrinking)	(576.11%)	0.00%	Compare
RMCF Rocky Mountain Chocolate Factory, Inc.	$8.5M	— (loss-making)	—	−4.08% (below 0%: shrinking)	n/m	−431.87% (below 0%: shrinking)	23.08%	(16.46%)	Compare
Median of peers	$1.5B	—	—	−2.32%	—	−261.72%	28.61%	(0.52%)

All 5 Confectioners stocks →

Hershey Company (The) (HSY) key facts

Strength: Hershey Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $11.7 billion, up 4.38% from fiscal 2024.
Hershey Company (The) (HSY) is a Confectioners company in the Consumer Defensive sector, listed on the New York Stock Exchange.
As of October 16, 2026, HSY traded at $170.74, a market capitalization of $33.9 billion.
Hershey Company (The) pays an annual dividend of $5.73 per share, a yield of 3.35%, with a payout ratio of 78.2%.
Return on equity was 18.9% and debt-to-equity 1.23.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 4.24 (safe zone) for fiscal 2025.