HSY
The Hershey CompanyStock · Consumer StaplesS&P 500 Equal Weight 0.2% · S&P 500 0.04% · Russell 1000 0.04% · US Stock Market 0.04% · Russell 3000 0.03% · MSCI World 0.03% · MSCI ACWI 0.03%$173.32-0.59%
as of market close, Sep 11, 2026
☾ AH — —
HSY financial statements
The full income statement, balance sheet, and cash-flow statement for The Hershey Company (HSY), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2020-12 208.2M2021-12 206.1M2022-12 205.0M2023-12 204.4M2024-12 202.4M2025-09 200.9M2025-12 202.8M2026-03 200.9M2026-06 200.9M-3.5% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 11.7B+4.4% | 11.2B+0.3% | 11.2B+7.2% | 10.4B+16.1% | 8.97B+10.1% | |
| 3.92B-26.0% | 5.30B+6.1% | 5.00B+11.1% | 4.50B+11.1% | 4.05B+9.4% | ||
| Cost of revenue | 7.77B+31.7% | 5.90B-4.3% | 6.17B+4.2% | 5.92B+20.3% | 4.92B+10.7% | |
| Research & development | 61.7M+10.5% | 55.8M+11.5% | 50.0M+6.6% | 46.9M+17.0% | 40.1M+6.7% | |
| Selling, general & administrative | 2.46B+3.7% | 2.37B-2.6% | 2.44B+9.0% | 2.24B+11.7% | 2.00B+5.8% | |
| Restructuring | 59.4M-49.5% | 118M+3316.7% | 3.44M-22.1% | 4.42M-73.4% | 16.6M-47.3% | |
| Amortization of intangibles | 85.4M+0.9% | 84.6M-4.7% | 88.8M+11.4% | 79.7M+52.9% | 52.1M+12.2% | |
| Operating income | 1.44B-50.3% | 2.90B+13.2% | 2.56B+13.3% | 2.26B+10.6% | 2.04B+14.6% | |
| Interest expense | 225M+29.0% | 174M+7.9% | 162M+15.3% | 140M+7.9% | 130M-15.4% | |
| Interest & investment income | 34.6M+299.4% | 8.66M-10.9% | 9.73M+283.2% | 2.54M+4.5% | 2.43M-40.7% | |
| Other non-operating income | -37.1M+85.7% | -259M-9.0% | -237M-15.1% | -206M-73.1% | -119M+13.9% | |
| Pre-tax income | 1.21B-50.9% | 2.47B+13.9% | 2.17B+13.3% | 1.92B+6.7% | 1.80B+20.2% | |
| Income tax | 331M+31.0% | 253M-18.5% | 310M+13.9% | 272M-13.4% | 314M+43.2% | |
| 883M-60.2% | 2.22B+19.3% | 1.86B+13.2% | 1.64B+11.3% | 1.48B+15.5% | ||
| Net income to non-controlling interest | — | — | 0.00 | 0.00-100.0% | 5.31M+261.1% | |
| Dividends per share | $5.35-0.2% | $5.36+23.2% | $4.35+15.0% | $3.78+13.6% | $3.33+8.2% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.59B-4.5% | 3.76B+29.1% | 2.91B+11.1% | 2.62B+16.7% | 2.25B-24.6% | ||
| Cash & equivalents | 926M+26.7% | 731M+81.8% | 402M-13.4% | 464M+40.9% | 329M-71.2% | |
| Accounts receivable | 730M-8.9% | 800M-2.8% | 824M+15.8% | 711M+5.9% | 671M+9.1% | |
| Inventory | 1.43B+14.0% | 1.25B-6.5% | 1.34B+14.3% | 1.17B+18.7% | 989M+2.5% | |
| Prepaid expenses | 504M-48.2% | 974M+181.9% | 346M+27.0% | 272M+5.9% | 257M+1.0% | |
| Other current assets | 303M-57.0% | 704M+496.9% | 118M-8.0% | 128M+0.5% | 128M-19.6% | |
| 13.7B+6.1% | 12.9B+8.8% | 11.9B+8.7% | 10.9B+5.2% | 10.4B+14.0% | ||
| Property, plant & equipment | 3.53B+2.0% | 3.46B+4.5% | 3.31B+19.5% | 2.77B+7.1% | 2.59B+13.2% | |
| Operating lease right-of-use | 325M-3.7% | 338M+9.7% | 308M-5.7% | 326M-7.2% | 352M+56.8% | |
| Goodwill | 3.00B+10.7% | 2.71B+0.4% | 2.70B+3.4% | 2.61B-1.0% | 2.63B+32.4% | |
| Intangible assets | 2.48B+32.1% | 1.87B-0.3% | 1.88B-4.4% | 1.97B-3.5% | 2.04B+57.3% | |
| Deferred tax assets | 27.8M-25.0% | 37.1M-16.6% | 44.5M+9.8% | 40.5M-0.9% | 40.9M+39.2% | |
| Other non-current assets | 1.12B+1.0% | 1.11B+4.8% | 1.06B+12.3% | 945M+8.8% | 868M+56.2% | |
| 3.01B-23.4% | 3.93B+30.6% | 3.01B-7.6% | 3.26B+30.6% | 2.49B+31.8% | ||
| Accounts payable | 1.26B+8.3% | 1.16B+6.7% | 1.09B+11.9% | 971M+40.2% | 692M+19.4% | |
| Accrued liabilities | 971M+20.2% | 807M-7.0% | 868M+4.2% | 833M-2.7% | 856M+9.4% | |
| Short-term & current debt | 503M-16.8% | 605M+98.3% | 305M-59.5% | 754M+26397.1% | 2.84M-99.4% | |
| Current lease liability | 49.6M+22.0% | 40.6M+17.8% | 34.5M+8.5% | 31.8M-12.4% | 36.3M-0.8% | |
| Finance lease liability (current) | 4.50M-20.6% | 5.67M-4.0% | 5.90M+37.7% | 4.29M+20.2% | 3.56M-26.8% | |
| 9.10B+10.6% | 8.23B+5.5% | 7.80B+2.0% | 7.65B-0.1% | 7.66B+11.0% | ||
| Long-term debt | 4.68B+46.7% | 3.19B-15.8% | 3.79B+13.3% | 3.34B-18.2% | 4.09B-0.1% | |
| Non-current lease liability | 286M-6.2% | 305M+10.0% | 277M-6.0% | 295M-5.2% | 311M+70.9% | |
| Operating lease liability (total) | 336M-2.9% | 345M+10.9% | 312M-4.6% | 327M-5.9% | 347M+58.9% | |
| Finance lease liability (total) | 73.5M-0.4% | 73.8M-3.4% | 76.4M+4.0% | 73.5M+6.3% | 69.1M-14.4% | |
| Finance lease liability | 69.0M+1.3% | 68.1M-3.3% | 70.5M+1.9% | 69.2M+5.5% | 65.6M-13.6% | |
| Deferred tax liabilities | 680M+60.2% | 424M+22.7% | 346M+5.3% | 328M+14.0% | 288M+25.8% | |
| Other non-current liabilities | 732M+6.3% | 688M+4.2% | 661M-8.2% | 720M-8.6% | 787M+15.2% | |
| 4.64B-1.7% | 4.71B+15.0% | 4.10B+24.2% | 3.30B+19.7% | 2.76B+23.4% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Additional paid-in capital | 1.43B+3.6% | 1.38B+2.4% | 1.35B+3.8% | 1.30B+2.9% | 1.26B+5.8% | |
| Retained earnings | 5.50B-3.6% | 5.70B+24.9% | 4.56B+27.1% | 3.59B+32.0% | 2.72B+41.0% | |
| Treasury stock | 2.26B-0.8% | 2.28B+26.6% | 1.80B+15.7% | 1.56B+30.2% | 1.20B+55.4% | |
| Accumulated other comprehensive income | -247M+18.6% | -304M-32.1% | -230M+8.8% | -252M-1.3% | -249M+26.3% | |
| Non-controlling interest | — | — | — | — | 0.00-100.0% | |
| Total equity incl. non-controlling | 4.64B-1.7% | 4.71B+15.0% | 4.10B+24.2% | 3.30B+19.7% | 2.76B+23.2% | |
| Total liabilities & equity | 13.7B+6.1% | 12.9B+8.8% | 11.9B+8.7% | 10.9B+5.2% | 10.4B+14.0% | |
| Common shares issued | 222M+0.0% | 222M+0.0% | 222M+0.0% | 222M+0.0% | 222M+0.0% | |
| Common shares outstanding | 203M+0.2% | 202M-1.0% | 204M-0.3% | 205M-0.6% | 206M-1.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 2.28B-10.0% | 2.53B+9.0% | 2.32B-0.2% | 2.33B+11.8% | 2.08B+22.5% | ||
| Depreciation & amortization | 504M+10.6% | 455M+8.4% | 420M+10.8% | 379M+20.3% | 315M+6.8% | |
| Intangible amortization | 85.4M+0.9% | 84.6M-4.7% | 88.8M+11.4% | 79.7M+52.9% | 52.1M+12.2% | |
| Share-based compensation | 65.5M+47.4% | 44.4M-45.2% | 81.0M+22.8% | 66.0M-1.1% | 66.7M+15.8% | |
| Deferred income taxes | 122M+67.0% | 73.2M+351.1% | 16.2M-56.0% | 36.9M+175.8% | 13.4M-50.2% | |
| Change in receivables | -99.0M-2121.0% | -4.46M-104.4% | 102M+167.5% | 38.2M+160.7% | 14.6M-73.6% | |
| Change in inventory | 133M+293.7% | -68.8M-143.8% | 157M-15.9% | 187M+971.3% | -21.5M-114.1% | |
| Other operating activities | 101M+32.1% | 76.6M-25.8% | 103M-14.5% | 121M+25.8% | 96.0M-15.4% | |
| -1.28B-33.2% | -960M+19.9% | -1.20B-52.2% | -787M+64.6% | -2.22B-318.4% | ||
| Capital expenditure | 455M-25.0% | 606M-21.4% | 771M+48.4% | 519M+4.8% | 496M+12.3% | |
| Free cash flow | 1.82B-5.3% | 1.93B+24.1% | 1.55B-14.2% | 1.81B+13.9% | 1.59B+26.2% | |
| Acquisitions | 756M+901.5% | 75.5M-54.5% | 166M | 0.00-100.0% | 1.60B | |
| Other investing activities | 6.24M+194.2% | -6.63M-234.3% | 4.93M+164.6% | -7.64M-200.9% | -2.54M-203.9% | |
| -803M+38.0% | -1.30B-12.9% | -1.15B+18.9% | -1.42B-107.8% | -681M-36.4% | ||
| Long-term debt issued | 1.98B | 0.00-100.0% | 744M | 0.00 | 0.00-100.0% | |
| Long-term debt repaid | 606M+97.9% | 306M-59.4% | 755M+15833.6% | 4.74M-98.9% | 439M-37.6% | |
| Net short-term debt | -1.10B-281.0% | 607M+2230.2% | 26.0M+110.6% | -246M-128.3% | 869M+1981.1% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00-100.0% | 494M+86.5% | 265M-31.9% | 389M-15.1% | 458M+116.8% | |
| Dividends paid | 1.09B+0.0% | 1.08B+22.0% | 889M+14.7% | 775M+13.0% | 686M+7.1% | |
| FX effect on cash | -180K-100.3% | 54.1M+241.3% | -38.3M-486.9% | 9.89M+294.8% | -5.08M+27.4% | |
| Net change in cash | 195M-40.7% | 329M+630.5% | -62.0M-146.0% | 135M+116.5% | -815M-225.2% | |
| Interest paid | 196M+9.0% | 180M+11.9% | 161M+22.0% | 132M+3.2% | 128M-15.4% | |
| Income taxes paid | 141M-30.3% | 202M-33.6% | 304M+37.3% | 221M-19.6% | 275M+27.7% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 36.9B+7.7% | 34.3B | — | — | 39.9B+25.7% | |
| P/E | 41.8×+170.8% | 15.4×-81.8% | 84.7×-19.5% | 105.2×+289.7% | 27.0×+8.8% | |
| P/S | 3.2×+3.2% | 3.1× | — | — | 4.4×+14.2% | |
| P/B | 8.0×+9.5% | 7.3× | — | — | 14.5×+1.9% | |
| P/FCF | 20.3×+13.8% | 17.8× | — | — | 25.1×-0.3% | |
| Earnings yield | 2.4%-63.1% | 6.5%+448.8% | 1.2%+24.2% | 0.95%-74.3% | 3.7%-8.1% | |
| FCF yield | 4.9%-12.1% | 5.6% | — | — | 4.0%+0.3% | |
| Dividend yield | 2.9%-7.1% | 3.2%+35.7% | 2.3%+42.9% | 1.6%-5.1% | 1.7%-14.8% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: HSY’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HSY filings on SEC EDGAR → Not investment advice.