Latest revenue
$3.10B
as of 2026-03-29
Latest net income
$435.1M
as of 2026-03-29
Net margin
14.0%
as of 2026-03-29
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $10.64B
- Enterprise value
- $16.00B
- P/E (trailing)
- 12.0×
- Forward P/E
- —
- P/B
- 4.21×
- Dividend yield
- 2.9%
- 52-wk high
- $239.48
- 52-wk low
- $154.37
- Beta
- —
- Shares out
- 54.6M
5-year trend
What this company does
Hershey makes and sells chocolate, candy, gum, and salty snacks, including iconic brands like Hershey's, Reese's, and Kisses, mostly through North American retailers. The company generates revenue almost entirely from packaged confectionery and snack sales, with Q1 2026 net sales of $3.1 billion up 11% year-over-year. Gross margin expanded sharply to 39.4% from 33.7%, driving net income to nearly double to $435 million as cocoa cost pressures eased and pricing held.
Generated from HSY's filing dated 2024-02-20
Key risks
- Cocoa cost exposure: $105M unrealized derivative losses in Q1 2026 follow $271M in Q1 2025, signaling continued commodity-hedging volatility.
- Leverage and rising interest burden: $5.36B total debt with interest expense up 12% YoY to $49.8M; cash paid for interest nearly doubled to $70M.
- Receivables surged 34% to $975M (from $730M), consuming $248M of operating cash flow and hinting at channel/customer payment stress.
Generated from HSY's filing dated 2024-02-20
Profitability
Gross margin
33.5%
29.1%Operating margin
12.3%
52.3%Net margin
7.6%
61.9%Return on equity
19.0%
59.6%Return on assets
6.4%
62.5%Leverage
Debt / equity
1.96×
12.5%Long-term debt / equity
1.01×
49.2%Debt / assets
66.3%
4.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-29 | $3.10B | +10.6% | $435.1M | +94.1% | 14.0% |
Q4 2025 2025-12-31 | $3.09B | +7.0% | $320.0M | -59.8% | 10.4% |
Q3 2025 2025-09-28 | $3.18B | +6.5% | $276.3M | -38.1% | 8.7% |
Q2 2025 2025-06-29 | $2.61B | +26.0% | $62.7M | -65.3% | 2.4% |
Q1 2025 2025-03-30 | $2.81B | -13.8% | $224.2M | -71.9% | 8.0% |
Q4 2024 2024-12-31 | $2.89B | — | $796.6M | — | 27.6% |
Q3 2024 2024-09-29 | $2.99B | -1.4% | $446.3M | -13.9% | 14.9% |
Q2 2024 2024-06-30 | $2.07B | -16.7% | $180.9M | -55.6% | 8.7% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Sugar & Confectionery Products · SIC 2060
Your notes
Keep private notes on HSY — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$445.4K
Insider selling
$116.0M
Net activity
−$115.5M
Distinct insiders
11
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns HSY
Institutional value
$9.16B
Total shares held
45.2M
Distinct holders
792
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 9.6M | $2.00B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 7.2M | $1.50B | — | New |
| 3 | Invesco Ltd. | 1.7M | $353.9M | — | New |
| 4 | STIFEL FINANCIAL CORP | 1.2M | $253.5M | — | New |
| 5 | DIMENSIONAL FUND ADVISORS LP | 1.2M | $251.7M | — | New |
| 6 | Bank of New York Mellon Corp | 1.1M | $236.9M | — | New |
| 7 | UBS Group AG | 1.1M | $228.1M | — | New |
| 8 | Legal & General Group Plc | 1.0M | $210.1M | — | New |
| 9 | ENVESTNET ASSET MANAGEMENT INC | 1.0M | $209.9M | — | New |
| 10 | VANGUARD FIDUCIARY TRUST CO | 836.0K | $173.8M | — | New |
| 11 | DEUTSCHE BANK AG\ | 686.5K | $142.7M | — | New |
| 12 | JANE STREET GROUP, LLC | 672.2K | $139.8M | — | New |
| 13 | WELLS FARGO & COMPANY/MN | 580.9K | $120.8M | — | New |
| 14 | EQUITY INVESTMENT CORP | 548.1K | $114.0M | — | New |
| 15 | CITIGROUP INC | 515.8K | $107.2M | — | New |
| 16 | LPL Financial LLC | 478.0K | $99.4M | — | New |
| 17 | Swiss National Bank | 434.9K | $90.4M | — | New |
| 18 | Nuveen, LLC | 392.9K | $81.7M | — | New |
| 19 | Mitsubishi UFJ Asset Management Co., Ltd. | 338.1K | $70.3M | — | New |
| 20 | Sumitomo Mitsui Trust Group, Inc. | 337.8K | $70.2M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Gross margin jumped to 39.4% from 33.7% YoY—how much reflects cocoa hedge gains versus pricing, and what's the sustainable run-rate?
- 2
Operating cash flow rose only 18% despite net income nearly doubling—why did receivables balloon $247M, signaling channel stuffing concerns?
- 3
With $105M unrealized derivative losses and cocoa near record highs, what's your hedge coverage for 2H 2026 and 2027?
Refreshed when HSY files a new report · last from 2024-02-20