Hershey Company (The)

Consumer Staples Packaged Foods & Meats Hershey, Pennsylvania Last filing Feb 17, 2026 · FY2025

                    Revenue
                    FY2025
                
$11.7B
                    3y CAGR +3.9%
                    
                    P64
                    
                    +4.4%
                    
                    Net income
                    FY2025
                
$883.3M
                    Net margin +7.6%
                    
                    P56
                    
                    -60.2%
                    
                    Total assets
                    FY2025
                
$13.7B
                    ROA +6.4%
                    
                    P56
                    
                    +6.1%
                    
                    Operating cash flow
                    FY2025
                
$2.3B
                    FCF margin +15.6%
                    
                    P81
                    
                    -10.0%

19 yrs · FY2007–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 5 years

Total assets $13.7B

Total liabilities $9.1B

Shareholders equity $4.6B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	7.9%	6.5%	3.6%	4.5%	3.7%
Accounts Receivable	6.2%	7.1%	7.4%	6.8%	7.5%
Inventory	12.2%	11.2%	12.0%	11.3%	11.0%
Prepaid Expenses	4.3%	8.7%	3.1%	2.6%	2.9%
Total Current Assets	30.7%	33.6%	26.1%	25.1%	25.0%
Property,Plant and Equipment	30.2%	30.9%	29.6%	26.6%	28.8%
Goodwill	25.6%	24.2%	24.1%	25.0%	29.4%
Intangible Assets	21.2%	16.7%	16.8%	18.9%	22.7%
Deferred Tax Assets	0.2%	0.3%	0.4%	0.4%	0.5%
Other Noncurrent Assets	9.6%	9.9%	9.5%	9.1%	9.7%
Total Assets	117.5%	115.6%	106.6%	105.1%	116.1%
Liabilities
Accounts Payable	10.7%	10.3%	9.7%	9.3%	7.7%
Accrued Liabilities	8.8%	7.7%	8.0%	8.1%	9.6%
Current Portion of Long Term Debt	6.2%	17.1%	9.2%	13.9%	10.5%
Total Current Liabilities	25.8%	35.1%	26.9%	31.3%	27.8%
Long Term Debt	40.0%	28.5%	33.9%	32.1%	45.6%
Deferred Tax Liabilities	5.8%	3.8%	3.1%	3.2%	3.2%
Other Noncurrent Liabilities	6.3%	6.1%	5.9%	6.9%	8.8%
Total Liabilities	77.9%	73.5%	69.9%	73.4%	85.3%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	12.2%	12.3%	12.1%	12.4%	14.0%
Retained Earnings	47.0%	50.9%	40.9%	34.5%	30.3%
Treasury Stock	19.3%	20.3%	16.1%	14.9%	13.3%
Accumulated Other Comprehensive Income	-2.1%	-2.7%	-2.1%	-2.4%	-2.8%
Total Stockholders Equity	39.7%	42.1%	36.7%	31.7%	30.7%
Total Liabilitiesand Equity	117.5%	115.6%	106.6%	105.1%	116.1%

Income Statement

Revenue, expense, and profitability

11 accounts · 5 years

Revenue $11.7B

Operating income $1.4B

Net income $883.3M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	66.5%	52.7%	55.2%	56.8%	54.9%
Other Income Expense Gross Profit	33.5%	47.3%	44.8%	43.2%	45.1%
Expenses Selling,General and Administrative	21.0%	21.2%	21.8%	21.5%	22.3%
Expenses Other Operating Expenses	0.2%	0.3%	0.0%	0.0%	0.0%
Other Income Expense Operating Income	12.3%	25.9%	22.9%	21.7%	22.8%
Other Income Expense Other Income/expense	-1.9%	-3.8%	-3.5%	-3.3%	-2.7%
Other Income Expense Income Before Tax	10.4%	22.1%	19.5%	18.4%	20.0%
Income Tax Income Tax Expense	2.8%	2.3%	2.8%	2.6%	3.5%
net Income net Income	7.6%	19.8%	16.7%	15.8%	16.5%
net Income Comprehensive Income	8.0%	19.2%	16.9%	15.8%	17.5%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $2.3B

Investing cash flow $-1.3B

Financing cash flow $-803.4M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	7.6%	19.8%	16.7%	15.8%	16.5%
Operating Activities Depreciation and Amortization	4.3%	4.1%	3.8%	3.6%	3.5%
Operating Activities Stock Based Compensation	0.6%	0.4%	0.7%	0.6%	0.7%
Operating Activities Deferred Income Taxes	1.0%	0.7%	0.1%	0.4%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	0.5%	-0.5%	-3.1%	-0.3%	0.5%
Operating Activities Other Non Cash Items	5.5%	-1.9%	2.6%	2.2%	1.8%
Operating Activities net Cash From Operating Activities	19.5%	22.6%	20.8%	22.3%	23.2%
Investing Activities Capital Expenditures	-3.9%	-5.4%	-6.9%	-5.0%	-5.5%
Investing Activities Business Acquisitions	-6.5%	-0.7%	-1.5%	0.0%	-17.8%
Investing Activities Proceeds From Sale of Investments	0.1%	-2.5%	-2.3%	—	—
Investing Activities Other Investing Activities	-0.7%	0.1%	-0.0%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	-10.9%	-8.6%	-10.7%	-7.6%	-24.8%
Financing Activities Proceeds From Debt	17.0%	0.0%	6.7%	0.0%	0.0%
Financing Activities Repayment of Debt	-14.6%	2.7%	-6.5%	-2.4%	4.8%
Financing Activities Repurchase of Common Stock	0.0%	-4.4%	-2.4%	-3.7%	-5.1%
Financing Activities Dividends Paid	-9.3%	-9.7%	-8.0%	-7.4%	-7.6%
Financing Activities Proceeds From Stock Issuance	0.2%	0.1%	0.2%	0.3%	0.6%
Financing Activities Tax Withholding On Stock Based Compensation	-0.2%	-0.3%	-0.3%	-0.3%	-0.2%
Financing Activities net Cash From Financing Activities	-6.9%	-11.6%	-10.3%	-13.6%	-7.6%
Cash Reconciliation Effect of Exchange Rate On Cash	-0.0%	0.5%	-0.3%	0.1%	-0.1%
Cash Reconciliation net Change In Cash	1.7%	2.9%	-0.6%	1.3%	-9.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
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%
FCF margin	+15.6%	+17.2%	+13.9%	+17.4%	+17.7%
Growth
Revenue CAGR (3y)	+3.9%	+7.7%	+11.1%	+9.3%	+4.8%
Returns
ROE	+19.0%	+47.1%	+45.4%	+49.8%	+53.6%
ROA	+6.4%	+17.2%	+15.6%	+15.0%	+14.2%
ROIC	+11.5%	+28.6%	+25.8%	+25.4%	+22.6%
Liquidity
Current ratio	1.19x	0.96x	0.97x	0.80x	0.90x
Quick ratio	0.55x	0.39x	0.41x	0.36x	0.40x
Leverage
D/E	1.96x	1.75x	1.90x	2.32x	2.78x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.85x	0.87x	0.94x	0.95x	0.86x
Cash conversion cycle	+31d	+32d	+42d	+37d	+49d

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Hershey Company (The)

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