HSY NYSE
The Hershey Company
1W: +0.7%
1M: +1.1%
3M: -8.3%
YTD: -7.2%
1Y: -6.7%
3Y: -6.1%
5Y: +4.4%
$164.51
-3.72 (-2.21%)
After Hours: $165.94 (+1.43, +0.87%)
Weekly Expected Move ±4.2%
$156
$163
$170
$177
$184
Credit Risk of going bust: lower than 82% of companies Debt: 14.2% of company value Bonds: $40.1M held by 122 funds, 36 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.67 (down 99%), The Hershey Company would be worth roughly what it owes.
Total debt $5.61B against a stock market value of $33.80B.
Distance to default 10.16 (Merton model): prices to 2026-10-26, balance sheet 2026-06-28, debt counted $2.76B (short-term plus half of long-term), stock volatility 27.5%; Altman Z 4.15. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.67 (down 99%), The Hershey Company would be worth roughly what it owes.
Total debt $5.61B against a stock market value of $33.80B.
Distance to default 10.16 (Merton model): prices to 2026-10-26, balance sheet 2026-06-28, debt counted $2.76B (short-term plus half of long-term), stock volatility 27.5%; Altman Z 4.15. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Cash Flow Trends
Operating Cash Flow
$2.3B
-10.0% ▼
5Y CAGR: +6.0%
Capital Expenditures
$528M
+12.8% ▲
5Y CAGR: +3.6%
Free Cash Flow
$1.7B
-9.2% ▼
5Y CAGR: +6.8%
Dividends Paid
$1.1B
-0.0% ▼
Buybacks
$0
+100.0% ▲
Net Change in Cash
$195M
-40.7% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | $1.5B | $1.6B | $1.9B | $2.2B | $883M |
| Depreciation & Amort. | $315M | $379M | $420M | $455M | $504M |
| Stock-Based Comp. | $67M | $66M | $81M | $44M | $65M |
| Change in Working Capital | $46M | -$29M | -$342M | -$53M | $40M |
| Other Non-Cash Items | $159M | $231M | $286M | -$209M | $663M |
| Operating Cash Flow | $2.1B | $2.3B | $2.3B | $2.5B | $2.3B |
| — Investing Activities — | |||||
| Capital Expenditures | -$496M | -$519M | -$771M | -$606M | $0 |
| Acquisitions (Net) | -$1.7B | -$276M | -$166M | -$361M | -$756M |
| Investment Purchases | $0 | -$276M | $0 | $0 | $0 |
| Investment Sales | $0 | $276M | $0 | $0 | $0 |
| Other Investing | $3M | $8M | -$262M | $7M | -$523M |
| Investing Cash Flow | -$2.2B | -$787M | -$1.2B | -$960M | -$1.3B |
| — Financing Activities — | |||||
| Net Debt Issuance | $430M | -$250M | $15M | $301M | $279M |
| Stock Repurchased | -$458M | -$389M | -$265M | -$494M | $0 |
| Dividends Paid | -$686M | -$775M | -$889M | -$1.1B | -$1.1B |
| Other Financing | $33M | -$36M | -$9M | -$18M | -$19M |
| Financing Cash Flow | -$681M | -$1.4B | -$1.1B | -$1.3B | -$803M |
| Net Change in Cash | -$815M | $135M | -$62M | $329M | $195M |
| Cash End of Period | $329M | $464M | $402M | $731M | $926M |
| Free Cash Flow | $1.6B | $1.8B | $1.6B | $1.9B | $1.7B |