Hershey Co
HSY- Exchange
- NYSE
- Industry
- Sugar & Confectionery Products
- SEC CIK
- 0000047111
In the last 90 days, Hershey Co insiders filed 0 open-market purchases and 26 sales; 1,424 institutions reported holding it in 13F filings for Q2 2026, worth $22.8B in total; superinvestors Markel Group and Maverick Capital hold it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 30, 2026, 1:12 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 5, 2026 | Feb 6, 2025 | Feb 8, 2024 | Feb 2, 2023 | Feb 3, 2022 |
| Revenue | $11.7B | $11.2B | $11.2B | $10.4B | $8.97B |
| Cost of revenue | $7.77B | $5.90B | $6.17B | $5.92B | $4.92B |
| Gross profit | $3.92B | $5.30B | $5.00B | $4.50B | $4.05B |
| Research and development | $61.7M | $55.8M | $50.0M | $46.9M | $40.1M |
| Selling, general and administrative | $2.46B | $2.37B | $2.44B | $2.24B | $2.00B |
| Operating income | $1.44B | $2.90B | $2.56B | $2.26B | $2.04B |
| Interest expense | $224.8M | $174.3M | $161.5M | $140.1M | $129.8M |
| Income tax | $330.9M | $252.7M | $310.1M | $272.3M | $314.4M |
| Net income | $883.3M | $2.22B | $1.86B | $1.64B | $1.48B |
| Margins and growth | |||||
| Gross margin | 33.5% | 47.3% | 44.8% | 43.2% | 45.1% |
| Operating margin | 12.3% | 25.9% | 22.9% | 21.7% | 22.8% |
| Net margin | 7.6% | 19.8% | 16.7% | 15.8% | 16.5% |
| Revenue growth, year over year | +4.4% | +0.3% | +7.2% | +16.1% | +10.1% |
| Net income growth, year over year | −60.2% | +19.3% | +13.2% | +11.3% | +15.5% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 5, 2026 | Feb 6, 2025 | Feb 8, 2024 | Feb 2, 2023 | Feb 3, 2022 |
| Accounts receivable | $729.5M | $800.4M | $823.6M | $711.2M | $671.5M |
| Inventory | $1.43B | $1.25B | $1.34B | $1.17B | $988.5M |
| Total current assets | $3.59B | $3.76B | $2.91B | $2.62B | $2.25B |
| Goodwill | $3.00B | $2.71B | $2.70B | $2.61B | $2.63B |
| Intangible assets | $2.48B | $1.87B | $1.88B | $1.97B | $2.04B |
| Total assets | $13.7B | $12.9B | $11.9B | $10.9B | $10.4B |
| Accounts payable | $1.26B | $1.16B | $1.09B | $970.6M | $692.3M |
| Short-term debt | $218.5M | $1.31B | $719.8M | $693.8M | $939.4M |
| Total current liabilities | $3.01B | $3.93B | $3.01B | $3.26B | $2.49B |
| Total liabilities | $9.10B | $8.23B | $7.80B | $7.65B | $7.66B |
| Shareholders' equity | $4.64B | $4.71B | $4.10B | $3.30B | $2.76B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 5, 2026 | Feb 6, 2025 | Feb 8, 2024 | Feb 2, 2023 | Feb 3, 2022 |
| Operating cash flow | $2.28B | $2.53B | $2.32B | $2.33B | $2.08B |
| Capital expenditures | $454.6M | $605.9M | $771.1M | $519.5M | $495.9M |
| Free cash flow | $1.82B | $1.93B | $1.55B | $1.81B | $1.59B |
| Depreciation and amortization | $503.7M | $455.3M | $419.8M | $379.0M | $315.0M |
| Stock-based compensation | $65.5M | $44.4M | $81.0M | $66.0M | $66.7M |
| Dividends paid | $1.09B | $1.08B | $889.1M | $775.0M | $686.0M |
| Share buybacks | $0 | $494.2M | $264.9M | $389.0M | $457.9M |
| Investing cash flow | -$1.28B | -$960.3M | -$1.20B | -$787.4M | -$2.22B |
| Financing cash flow | -$803.4M | -$1.30B | -$1.15B | -$1.42B | -$681.1M |
| Net change in cash | $195.1M | $328.8M | -$62.0M | $134.6M | -$814.7M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 0.6% | 0.4% | 0.7% | 0.6% | 0.7% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.