— Know what they know.
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Not Investment Advice

HSY

NYSE · USD
The Hershey Company
Consumer Defensive · Food Confectioners
CEO Kirk C. Tanner Employees 17,550 R&D / revenue 0.0%
Last price
$170.83+1.27%last session
Market cap
$34.3B
P/E (TTM)
23.1x
From 52w high
−28.7%
From 52w low
+9.4%
1-year return
−7.8%
RSI 14 · vs SMA200
59.7 · −9.9%
IS score
66.9/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

HSY   SPY   XLP (sector ETF) · weekly closes
90100110120Jan 26Apr 26Jul 26Oct 26SPY 116XLP 111HSY 92

Score DNA

Each bar is a 0-100 score within the scored universe
71
Profitability
46
Growth
44
Value
73
Momentum
100
Risk (safety)
76
Quality
55
Balance sheet
76
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: None, Efficient ScalePiotroski 6 / 9Altman Z 4.3Beta 0.103 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
595 open-market sales, $223.2M
Form 144 notices (12m): 29, $702.6M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
4
Last disclosed purchase 2026-09-04
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−60
129 new holders, 176 closed
1,420 filers hold 68.0% · 538 added, 512 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+170
1,168 funds adding shares
998 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
67.4%
20-day avg 56.5%, 50-day avg 55.5%
Latest 10.9 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$11.7B
Revenue growth YoY+4.4%
Gross margin33.3%
Operating income$1.4B
Operating margin12.1%
Net income$883.3M
Net margin7.6%
EPS (diluted)$4.34
Cash flow
Operating cash flow$2.3B
Capital expenditure$528.2M
Free cash flow$1.7B
FCF conversion (FCF / OCF)76.8%
Stock-based compensation$65.5M
FCF less SBC$1.7B
Buybacks$0
Dividends$1.1B
Balance sheet & returns
Cash & short-term investments$925.9M
Total debt$5.4B
Net debt$4.5B
Shareholders' equity$4.6B
Goodwill & intangibles$5.5B
Debt / equity1.23
ROE (TTM)32.2%
ROIC (TTM)14.3%
Operating margin by fiscal year
22.8%FY202121.7%FY202222.9%FY202325.9%FY202412.1%FY2025
Revenue $9.0B (FY2021) to $11.7B (FY2025), a 6.8% CAGR.

Valuation

P/E (TTM)23.1x
EV / EBITDA15.0x
Price / sales2.82x
Price / FCF13.5x
FCF yield7.41%
Buyback yield0.00%
SBC / revenue0.6%
Price / book7.44x
Forward P/E FY202620.1x
Forward P/E FY202717.3x
Forward P/E FY202816.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $195.00 across 11 analysts last quarter is theirs, not ours.

HSY vs industry median

27 companies in Food Confectioners
Gross margin 38.1% 34.8% Operating margin 17.6% 6.2% Net margin 12.2% 6.0% ROIC 14.3% 14.5%
HSY (TTM)Industry median Asset turnover 0.87 vs industry 0.81 · financial leverage 3.06

Earnings delivery

Next report 2026-10-29 · consensus EPS $2.12
83%
beat rate, 10 of 12 quarters
+11.7%
median EPS surprise
7
longest beat streak
+6+4+11-12-9+12+8+22+21+22+15+33
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-26 to 2026-07-30. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
HSY The Hershey Company $34.3B23.1x32.2%12.2%+4.4% −7.8%
K Kellanova $29.0B47.7x32.5%9.5%+18.3% +6.3%
MDLZ Mondelez International, Inc. $81.6B23.4x13.3%16.5%+6.9% +3.7%
KMB Kimberly-Clark Corporation $35.1B18.0x129.4%8.2%−12.3% −11.8%
KVUE Kenvue Inc. $36.3B21.7x15.6%11.5%+1.8% +35.7%
KR The Kroger Co. $37.6B34.4x14.3%1.9%+1.6% —
EL The Estée Lauder Companies $37.9B205.0x4.7%-3.2%+5.1% —
DG Dollar General Corporation $29.7B17.4x19.7%4.9%+4.8% —
12-month window: SPY +15.9%, sector ETF XLP +11.4%. Past returns describe history only.

Recent 8-K filings

2026-09-02Officer/Director Change; Regulation FD; Exhibits
2026-07-30Earnings Release; Exhibits
2026-06-09Officer/Director Change; Exhibits
2026-05-28Officer/Director Change; Regulation FD; Exhibits
2026-05-08Shareholder Vote; Exhibits
2026-04-30Earnings Release; Exhibits

Context

Shares outstanding200,925,660
Free float98.1%
Institutional ownership68.0%
Beta0.10
Dividend yield3.35%
Last dividend$1.45 on 2026-08-14
50 / 200-day average$173.36 / $189.91
Large-cap Consumer Defensive median P/E23.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (None).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where HSY sits among 3 scored companies in Food Confectioners (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureHSYIndustry medianIndustry percentileSector median
P/E (TTM) 23.1x — 20.0x
PEG (P/E ÷ 3-yr EPS CAGR) —
Price / sales 2.8x — 1.1x
Price / book 7.5x — 2.5x
Price / tangible book —
Price / free cash flow 13.5x — 14.7x
Price / operating cash flow 12.9x — 9.4x
Enterprise value $39.1B — $5.1B
EV / sales 3.2x — 1.3x
EV / EBITDA 15.0x — 12.3x
EV / EBIT 18.8x — 16.5x
EV / free cash flow 15.4x — 18.2x
Earnings yield 4.3% — 3.9%
FCF yield 7.4% — 6.5%
Operating cash flow yield 7.7% — 10.4%
Graham number (per share) $60.53 — $35.68

Profitability (TTM)

MeasureHSYIndustry medianIndustry percentileSector median
Gross margin 38.1% — 34.4%
EBITDA margin 21.5% — 10.7%
Operating margin 17.6% — 7.6%
EBIT margin 17.1% — 6.9%
Net margin 12.2% — 3.3%
NOPAT margin 13.6% — 4.8%
FCF margin 20.9% — 7.6%
Operating cash flow margin 21.8% — 11.1%
R&D / revenue 0.0% — 0.0%
SG&A / revenue 20.5% — 21.1%
Stock comp / revenue 0.6% — 0.5%
Effective tax rate 22.5% — 23.2%

Returns on capital

MeasureHSYIndustry medianIndustry percentileSector median
ROE (on average equity) 32.8% — 10.4%
ROA 10.8% — 4.9%
ROIC 17.7% — 8.2%
ROCE 19.6% — 9.1%
Return on tangible assets 15.1% — 7.2%
Cash ROIC (OCF / invested capital) 28.3% — 15.0%
Gross profitability (GP / assets) 33.2% — 32.4%
ROIC, 3-yr average 16.1% — 6.4%
ROIC, 5-yr average 21.2% — 7.8%
ROE, 5-yr average 43.5% — 11.4%
Incremental ROIC -137.8% — 12.8%

Growth

MeasureHSYIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 7.7% — 3.8%
Revenue growth (QoQ) -10.2% — 4.3%
Revenue CAGR, 3 yr 3.9% — 3.8%
Revenue CAGR, 5 yr 7.0% — 5.1%
Gross profit CAGR, 3 yr -0.9% — 4.0%
Operating income CAGR, 3 yr -4.4% — 4.3%
Net income growth (TTM YoY) -2.7% — 5.6%
Net income CAGR, 3 yr -5.9% — 5.4%
EPS growth (TTM YoY) -3.2% — 4.7%
EPS CAGR, 3 yr -5.8% — 6.8%
EPS CAGR, 5 yr 1.1% — 4.1%
FCF growth (TTM YoY) 61.2% — 23.4%
FCF CAGR, 3 yr 15.4% — 14.6%
Operating cash flow CAGR, 3 yr 5.5% — 6.4%
Book value CAGR, 3 yr 7.5% — 5.3%
Dividend CAGR, 3 yr 1.2% — 1.7%
Sustainable growth rate 8.2% — 8.3%

Margin history & stability

MeasureHSYIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 41.2% — 34.7%
Operating margin, 3-yr average 19.8% — 6.7%
Net margin, 3-yr average 14.2% — 4.2%
FCF margin, 3-yr average 15.8% — 6.5%
Revenue stability (0-1) 0.92 — 0.81
Earnings stability (0-1) 0.00 — 0.34
Margin stability (0-1) 0.92 — 0.95

Liquidity (latest quarter)

MeasureHSYIndustry medianIndustry percentileSector median
Cash & short-term investments $791.2M — $279.3M
Net cash (− = net debt) −$4.8B — −$1.0B
Working capital $603.8M — $285.9M
Current ratio 1.18 — 1.43
Quick ratio 0.66 — 0.86
Cash ratio (cash + ST investments / current liabilities) 0.24 — 0.28
Defensive interval (days) 248 days — 251 days

Leverage & solvency (latest quarter)

MeasureHSYIndustry medianIndustry percentileSector median
Total debt $5.6B — $1.8B
Debt / equity 1.23 — 0.75
Net debt / equity 1.06 — 0.55
Debt / assets 40.2% — 31.6%
Debt / capital 55.2% — 43.0%
Debt / EBITDA 2.15 — 2.69
Net debt / EBITDA 1.84 — 2.14
Interest coverage (EBIT / interest) 9.7x — 4.7x
Cash interest coverage 12.4x — 8.2x
Debt payback (years of OCF) 2.1 yrs — 2.8 yrs
Liabilities / assets 67.3% — 56.2%
IS credit model rating AA- — —
Implied credit spread (bps) 100 — 225

Efficiency

MeasureHSYIndustry medianIndustry percentileSector median
Asset turnover 0.88 — 0.94
Fixed asset turnover 3.22 — 4.44
Inventory turnover 4.2 — 6.0
Receivables turnover 14.1 — 12.1
Days sales outstanding 26 days — 30 days
Days inventory outstanding 87 days — 61 days
Days payables outstanding 52 days — 38 days
Cash conversion cycle (days) 61 days — 37 days
Capex / revenue 0.9% — 3.1%
Capex / depreciation 0.21 — 0.92
Operating expense ratio 22.3% — 24.8%

Cash flow & earnings quality

MeasureHSYIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.78 — 1.87
FCF / net income 1.71 — 1.28
FCF / operating cash flow 95.8% — 71.9%
Capex / operating cash flow 4.2% — 29.5%
Accruals ratio -8.5% — -6.1%
Sloan accruals ratio -10.6% — -3.9%
Earnings quality score (0-1) 0.75 — 0.75

Dividends & buybacks

MeasureHSYIndustry medianIndustry percentileSector median
Dividend yield 3.4% — 1.8%
Dividend per share (TTM) $5.73 — $0.64
Payout ratio (dividends / net income) 75.0% — 32.1%
Dividends / FCF 43.9% — 27.4%
Dividend growth (YoY) 2.5% — 1.8%
Buyback yield 1.3% — 0.9%
Shareholder yield (dividends + buybacks) 4.5% — 3.6%
Share count change (YoY) 0.5% — -0.2%
Buybacks, last 5 years $509.2M — $184.1M

Scores & forensic checks

MeasureHSYIndustry medianIndustry percentileSector median
IS score 67 — 53
IS profitability 71 — 32
IS growth 46 — 50
IS value 44 — 49
IS momentum 73 — 73
IS risk (safety) 100 — 80
IS quality 76 — 65
IS balance sheet 55 — 53
IS earnings quality 76 — 76
IS cash flow 81 — 57
Piotroski F-score (0-9) 6 — 6
Altman Z-score 4.3 — 3.2
Beneish M-score −2.91 — −2.71
Ohlson O-score −7.53 — −7.61
IS credit score 81 — 64

Per share

MeasureHSYIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $7.29 — $2.03
Book value per share $22.34 — $16.28
Tangible book per share −$5.94 — $3.52
Revenue per share $59.55 — $41.08
FCF per share $12.46 — $3.18
Operating cash flow per share $13.00 — $4.93
Cash per share $3.87 — $2.81

Size (TTM)

MeasureHSYIndustry medianIndustry percentileSector median
Market cap $34.3B — $4.0B
Revenue $12.2B — $5.2B
EBITDA $2.6B — $426.9M
Net income $1.5B — $167.0M
Free cash flow $2.5B — $345.6M
Total assets $14.0B — $4.8B
Shareholders' equity $4.6B — $1.6B
Employees 18,573 — 9,700

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-14Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 12$161.95$1,943596,107
2026-10-14Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 2,783$162.51$452,254593,324
2026-10-14Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 2,476$163.67$405,238590,848
2026-10-14Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 4,649$164.28$763,722586,199
2026-10-14Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 80$165.02$13,202586,119
2026-10-13Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 4,123$162.81$671,279601,996
2026-10-13Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 4,997$163.25$815,749596,999
2026-10-13Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 741$164.27$121,724596,258
2026-10-13Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 139$165.21$22,964596,119
2026-10-12Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 211$160.84$33,937615,908
2026-10-12Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 1,664$161.68$269,037614,244
2026-10-12Hershey Trust Co Trustee In Trust For Milton Hershey School
10 percent owner
 Open-market sale 894$162.25$145,049613,350

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunJulAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired3022,694$141,415
Open-market saleDisposed5951,247,784$223.2M
Tax withholdingDisposed38,639$1.5M
—Disposed77,300$953,563
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 29 notices · 3,493,751 shares · $702.6M
FiledFilerShares proposedEst. proceeds
2026-09-16Hershey Trust Co Trustee In Trust For Milton Hershey School730,000$125.2M
2026-08-06Mccalman Jennifer710$128,354
2026-08-05Voskuil Steven E950$171,000
2026-07-20Voskuil Steven E1,500$255,000
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 13 trades (1 purchases) · Senate 5 (5 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-04Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-07-10Dan NewhouseHouseSale$1,001 - $15,0002026-07-20
2026-07-10Daniel Milton NewhouseHouseSale (Full)$1,001 - $15,0002026-07-20
2026-07-09Daniel Milton NewhouseHouseSale (Full)$1,001 - $15,0002026-07-20
2026-04-08Mark WarnerSenatePurchase$1,001 - $15,0002026-05-01
2026-04-08Mark R. WarnerSenatePurchase$1,001 - $15,0002026-05-01
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
2025-11-21Sheldon WhitehouseSenatePurchase$1,001 - $15,0002025-12-01
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.13,131,312$2.3B6.54%
VANGUARD CAPITAL MANAGEMENT LLC9,683,520$1.7B4.82%
VANGUARD PORTFOLIO MANAGEMENT LLC7,271,155$1.3B3.62%
STATE STREET CORP7,227,295$1.3B3.60%
MORGAN STANLEY4,455,185$781.7M2.22%
GEODE CAPITAL MANAGEMENT, LLC4,280,665$748.3M2.13%
Capital World Investors3,500,000$614.1M1.74%
FMR LLC3,004,051$527.1M1.50%
ROYAL BANK OF CANADA2,891,678$507.3M1.44%
GQG Partners LLC2,766,786$485.4M1.38%
Capital Research Global Investors2,699,237$473.6M1.34%
Invesco Ltd.2,022,858$354.9M1.01%
JPMORGAN CHASE & CO1,571,872$285.4M0.78%
BANK OF AMERICA CORP /DE/1,566,662$274.9M0.78%
NORTHERN TRUST CORP1,362,073$239.0M0.68%

Institutional ownership by quarter

2023-092026-0668.0%
% of shares held by 13F filers
2023-092026-061,420
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,42068.0%129538512176
2026-03-311,48062.7%196543466110
2025-12-311,41664.2%17444553189
2025-09-301,36063.7%15848545599
2025-06-301,31964.6%116521444136
2025-03-311,35461.9%166532434141
2024-12-311,35061.2%189433528210
2024-09-301,39962.2%133530477101
2024-06-301,38659.1%155558434117
2024-03-311,36959.1%159535422131
2023-12-311,35258.7%186473444114
2023-09-301,30159.2%117464448156

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-05-14SCHEDULE 13G/ACapital International Investors0.0%174
2026-04-30SCHEDULE 13GVanguard Capital Management7.5%11,134,087
2026-03-27SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-11-13SCHEDULE 13G/ACapital International Investors6.1%9,050,100
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.03%$732.7M
VTSAX0.03%$732.7M
VTI0.03%$732.7M
VSMPX0.03%$732.7M
SCHD0.60%$677.7M
VOO0.04%$605.5M

Share structure

Shares outstanding200,925,660
Float197,162,724
Free float98.1%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$9.0B$10.4B$11.2B$11.2B$11.7B
Cost of revenue$4.9B$5.9B$6.2B$5.9B$7.8B
Gross profit$4.0B$4.5B$5.0B$5.3B$3.9B
R&D$0$0$0$0$0
SG&A$2.0B$2.2B$2.4B$2.3B$2.5B
Operating income$2.0B$2.3B$2.6B$2.9B$1.4B
EBITDA$2.2B$2.4B$2.8B$3.1B$1.4B
Pretax income$1.8B$1.9B$2.2B$2.5B$1.2B
Income tax$314.4M$272.3M$310.1M$252.7M$330.9M
Net income$1.5B$1.6B$1.9B$2.2B$883.3M
EPS, diluted$7.11$7.96$9.06$10.94$4.34
Diluted shares207.8M206.6M205.5M203.5M203.3M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$329.3M$463.9M$401.9M$730.7M$925.9M
Receivables$671.5M$711.2M$823.6M$800.4M$729.5M
Inventory$988.5M$1.2B$1.3B$1.3B$1.4B
Total current assets$2.2B$2.6B$2.9B$3.8B$3.6B
PP&E, net$2.6B$2.8B$3.6B$3.8B$3.5B
Goodwill & intangibles$4.7B$4.6B$4.9B$4.9B$5.5B
Total assets$10.4B$10.9B$11.9B$12.9B$13.7B
Accounts payable$692.3M$970.6M$630.5M$807.9M$1.3B
Total current liabilities$2.5B$3.3B$3.0B$3.9B$3.0B
Long-term debt$4.0B$3.3B$3.7B$3.1B$4.7B
Total liabilities$7.7B$7.6B$7.8B$8.2B$9.1B
Shareholders' equity$2.8B$3.3B$4.1B$4.7B$4.6B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$1.5B$1.6B$1.9B$2.2B$883.3M
Depreciation & amortization$315.0M$379.0M$419.8M$455.3M$503.7M
Stock-based compensation$66.7M$66.0M$81.0M$44.4M$65.5M
Change in working capital$46.3M−$29.4M−$341.9M−$53.1M$40.1M
Operating cash flow$2.1B$2.3B$2.3B$2.5B$2.3B
Capital expenditure−$495.9M−$519.5M−$771.1M−$605.9M−$528.2M
Free cash flow$1.6B$1.8B$1.6B$1.9B$1.7B
Investing cash flow−$2.2B−$787.4M−$1.2B−$960.3M−$1.3B
Net debt issued / repaid$429.6M−$250.4M$14.7M$300.6M$279.4M
Buybacks−$457.9M−$389.0M−$264.9M−$494.2M$0
Dividends paid−$686.0M−$775.0M−$889.1M−$1.1B−$1.1B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin45.1%43.2%44.8%47.3%33.3%
Operating margin22.8%21.7%22.9%25.9%12.1%
Net margin16.5%15.8%16.7%19.8%7.6%
FCF margin17.7%17.4%13.9%17.2%17.7%
ROE59.2%54.3%50.3%50.4%18.9%
ROIC21.6%24.4%24.9%27.6%11.3%
ROA15.1%15.4%16.3%17.9%6.6%
Debt / equity1.951.551.251.161.17
Interest coverage14.8x14.7x14.4x15.2x6.4x
Current ratio0.900.800.970.961.19
Revenue growth+10.1%+16.1%+7.2%+0.3%+4.4%
EPS growth+16.6%+11.9%+13.7%+20.4%−60.2%
P/E at year end24.6x26.8x19.3x15.0x41.9x
EV / EBITDA at year end18.5x20.0x14.8x12.3x22.0x
FCF yield at year end4.37%4.10%4.31%5.77%5.58%
Dividend payout46.4%47.1%47.8%48.8%122.9%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
North America Confectionery Segment$7.7B$8.5B$9.1B$9.1B$9.5B
North America Salty Snacks Segment$555.4M$1.0B$1.1B$1.1B$1.3B

Revenue by region · FY2025

North America Segment$10.3B · 88%
International and Other Segment$1.4B · 12%

Street estimates by fiscal year

Next report 2026-10-29 · consensus EPS $2.12 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$12.3B$12.2B – $12.3B$8.49$8.38 – $8.651320.1x
2027$12.6B$12.5B – $12.7B$9.86$9.43 – $10.351317.3x
2028$12.9B$12.7B – $13.1B$10.44$9.61 – $10.76716.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-30$1.43$1.90+32.9%$2.6B$2.8B+5.8%
2026-04-30$2.04$2.35+15.2%$3.0B$3.1B+2.5%
2026-02-05$1.40$1.71+22.1%$3.0B$3.1B+3.7%
2025-10-30$1.07$1.30+21.5%$3.1B$3.2B+2.0%
2025-07-30$0.99$1.21+21.9%$2.5B$2.6B+3.6%
2025-05-01$1.94$2.09+7.7%$2.8B$2.8B+0.5%
2025-02-06$2.40$2.69+12.1%$2.8B$2.9B+1.7%
2024-11-07$2.56$2.34−8.6%$3.1B$3.0B−2.9%
2024-08-01$1.44$1.27−11.8%$2.3B$2.1B−9.9%
2024-05-03$2.76$3.07+11.2%$3.1B$3.3B+4.5%
2024-02-08$1.95$2.02+3.6%$2.7B$2.7B−2.2%
2023-10-26$2.45$2.60+6.1%$3.0B$3.0B+2.5%
2023-07-27$1.91$2.01+5.2%$3.0B$2.5B−16.3%
2023-04-27$2.66$2.96+11.3%$2.9B$3.0B+2.8%
2023-02-02$1.77$2.02+14.1%$2.6B$2.7B+2.9%
2022-11-04$2.10$2.17+3.3%$2.6B$2.7B+4.2%
2022-07-28$1.69$1.80+6.5%$2.2B$2.4B+6.0%
2022-04-28$2.10$2.53+20.5%$2.5B$2.7B+7.7%
2022-02-03$1.62$1.69+4.3%$2.3B$2.3B+2.7%
2021-10-28$2.01$2.10+4.5%$2.3B$2.4B+3.0%
2021-07-29$1.43$1.47+2.8%$2.0B$2.0B+0.0%
2021-04-29$1.80$1.92+6.7%$2.1B$2.3B+8.6%
2021-02-04$1.43$1.49+4.2%$2.1B$2.2B+4.4%
2020-11-06$1.72$1.86+8.1%$2.1B$2.2B+8.1%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.606-150.706-220.406-290.607-060.307-130.407-200.607-270.408-030.308-100.308-170.208-240.308-31
Week ofNotionalSharesTrades
2026-08-31$329.9M1,875,80257,352
2026-08-24$239.2M1,294,66646,144
2026-08-17$267.1M1,435,53750,282
2026-08-10$339.5M1,856,28553,437
2026-08-03$378.8M2,114,93265,287
2026-07-27$626.4M3,468,84981,213

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1567.4%
DateShort shareShort volumeTotal volume
2026-10-1567.4%427,569634,721
2026-10-1448.9%210,397430,500
2026-10-1363.2%319,216504,715
2026-10-1250.6%255,235504,625
2026-10-0965.4%279,895427,811
2026-10-0868.6%366,636534,076
2026-10-0752.9%217,422411,161
2026-10-0662.8%321,888512,436
2026-10-0551.3%319,693623,518
2026-10-0254.8%272,397496,637
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+0.6Jan+3.9Feb+1.2Mar+1.1Apr+1.1May-0.1Jun+2.4Jul-0.4Aug-0.2Sep-1.6Oct+1.1Nov+1.2Dec
MonthAvg returnUp yearsYears
Jan+0.6%65%20
Feb+3.9%75%20
Mar+1.2%67%21
Apr+1.1%55%20
May+1.1%50%20
Jun−0.1%55%20
Jul+2.4%55%20
Aug−0.4%45%20
Sep−0.2%50%20
Oct−1.6%35%20
Nov+1.1%55%20
Dec+1.2%45%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1459.7
MFI64.9
ADX31.1
Stochastic %K / %D84.8 / 71.1
Williams %R-7.7
CCI140
TSI / signal-14.8 / -27.8
Chaikin money flow-0.12
ATR$3.42
Bollinger width8.8%
Volume vs 20-day avg1.25x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$163.96 (+4.2%)
SMA 50$172.97 (−1.2%)
SMA 200$189.52 (−9.9%)
EMA 21$165.82 (+3.0%)
EMA 50$170.26 (+0.3%)
EMA 200$181.09 (−5.7%)
Bollinger upper$171.16 (−0.2%)
Bollinger lower$156.75 (+9.0%)
Parabolic SAR$160.18 (+6.6%)
Open the live chart, 110+ indicators

About The Hershey Company

The Hershey Company, operating with its various subsidiaries, serves as a key manufacturer and distributor of both sweet confections and general household pantry items. Its market reach extends across the United States and globally. The enterprise strategically divides its operations into three main business segments: North America Confectionery, North America Salty Snacks, and an International division. Its extensive product catalog features a wide array of offerings. This includes various chocolate and non-chocolate candies, as well as refreshing chewing gums and mints. Beyond traditional treats, Hershey also supplies pantry essentials such as baking ingredients, dessert toppings, a range of beverages, and sundae syrups. Furthermore, their snack collection encompasses diverse items like spreads, meat snacks, various bars and snack bites, popcorn, and protein bars. The company markets its broad product line under numerous iconic brand names. Its extensive brand portfolio includes household names such as Hershey's, Reese's, Kisses, Jolly Rancher, Kit Kat, Twizzlers, York, and Ice Breakers, alongside other popular confectionery brands like Almond Joy, Cadbury, Heath, Payday, Rolo, and Whoppers. The snack segment features well-known names like SkinnyPop, Pirates Booty, Paqui, Dot's Homestyle Pretzels, and ONE Bar, complemented by international offerings such as Pelon Pelo Rico, IO-IO, and Sofit. Hershey distributes its merchandise through a comprehensive network of channels. These include wholesale distributors, major grocery store chains, large-scale retailers, pharmacies, vending machine operators, warehouse clubs, convenience stores, discount stores, concession stands, and department stores. Established in 1894, The Hershey Company maintains its corporate headquarters in Hershey, Pennsylvania.

https://www.thehersheycompany.com

Key executives

NameTitlePayBorn
Kirk C. TannerPresident, Chief Executive Officer & Director$2.9M1969
Steven E. VoskuilSenior Vice President of Strategic Projects$2.4M1968
Deepak BhatiaChief Technology Officer$2.2M1974
Jason R. ReimanSenior Vice President of Supply Chain Modernization$2.0M1972
Dave HulaysSenior Vice President & Chief Financial Officer$1.5M1972
James TuroffSenior Vice President, General Counsel & Secretary—1977
Jennifer L. McCalmanVice President & Chief Accounting Officer—1979
Natalie Rothman S. SchechtmanSenior VP & Chief Human Resources Officer—1971

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Mr. Tanner President and CEO2025$456,731$14.7M$1.4M$16.8M
Ms. Buck Special Advisor; Former Chairman of the Board, President and CEO2025$1.4M$6.5M$3.7M$16.1M
Mr. Archambault President U.S.2025$745,673$8.1M$1.2M$12.8M
Mr. Voskuil Senior Vice President, CFO2025$790,000$6.7M$1.3M$9.1M
Mr. Reiman Senior Vice President, Chief Supply Chain Officer2025$765,000$3.7M$1.1M$5.8M
Mr. Bhatia Senior Vice President, Chief Technology Officer2025$725,000$3.3M$1.2M$5.5M

Employees

15k201815k201915k202017k202118k202219k202319k202418k2025

Dividends

Ex-dateAmountPaid
2026-08-14$1.4522026-09-15
2026-05-15$1.4522026-06-15
2026-02-17$1.4522026-03-16
2025-11-17$1.372025-12-15
2025-08-15$1.372025-09-15
2025-05-16$1.372025-06-16
2025-02-14$1.372025-03-14
2024-11-18$1.372024-12-16

Moat model

None · Efficient Scale · 2026-06-28
Cost advantage30
Intangibles14
Switching costs12
Network effect50
Efficient scale100
Our component scores (0-100) and overall 35.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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