Hershey (HSY) stock
Consumer Staples · Packaged Foods & Meats
Hershey (HSY) is a Packaged Foods & Meats company in the Consumer Staples sector, headquartered in Hershey, Pennsylvania. As of October 23, 2026, HSY closed at $169.64, a market capitalization of $34.09 billion, the 303rd largest company in the S&P 500. Over the last twelve months it generated $12.16 billion in revenue (+7% year over year) and $2.23 billion in free cash flow. The stock trades at 23.2x trailing earnings and 17.2x forward earnings.
- 1-year total return: -3.8% (dividends reinvested)
- 5-year return: +1.1% a year
- 52-week range: $156.16 – $239.48
- Gross margin 38.4%, operating margin 23.1%
- Dividend yield: 3.42%
- FI Handbook report card: B- across 10 metrics
- 20th largest of 34 Consumer Staples stocks in the S&P 500
HSY price chart
1Y price change: -6.6% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| HSY | +0.7% | -4.7% | -3.8% | -0.7% | +1.1% | +8.5% | +14.4% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 1980.
HSY key statistics
- Market cap
- $34.1B
- #303 in S&P 500
- P/E (TTM)
- 23.2x
- Forward P/E
- 17.2x
- EPS (TTM)
- $7.32
- Revenue (TTM)
- $12.2B
- +7%
- Free cash flow
- $2.2B
- Gross margin
- 38.4%
- Operating margin
- 23.1%
- Return on equity
- 32.8%
- Dividend yield
- 3.42%
- 52-week range
- $156.16 – $239.48
- Beta
- 0.09
- Price / sales
- 2.8x
- EV / EBITDA
- 14.4x
- Debt / equity
- 1.30x
- Employees
- 17,550
HSY report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth6.6%C
- Gross margin38.4%C
- Operating margin23.1%B
- FCF margin18.3%B
- Return on equity32.8%A
- Net debt / EBITDA1.9xC
- Forward P/E17.2xB
- PEG ratio0.8xA
- Shareholder yield3.4%B
- Share count change / yr296.7%F
Hershey financials
Revenue went from $7.4B in fiscal 2016 to $11.7B in fiscal 2025, growing 5.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.4B | $7.5B | $7.8B | $8.0B | $8.1B | $9.0B | $10.4B | $11.2B | $11.2B | $11.7B |
| Gross profit | $3.2B | $3.5B | $3.6B | $3.6B | $3.7B | $4.0B | $4.5B | $5.0B | $5.3B | $3.9B |
| Operating income | $1.3B | $1.3B | $1.6B | $1.6B | $1.8B | $2.0B | $2.3B | $2.6B | $2.9B | $1.4B |
| Net income | $720.0M | $783.0M | $1.2B | $1.1B | $1.3B | $1.5B | $1.6B | $1.9B | $2.2B | $883.3M |
| Free cash flow | $744.0M | $991.8M | $1.3B | $1.4B | $1.3B | $1.6B | $1.8B | $1.6B | $1.9B | $1.8B |
| Buybacks | $592.5M | $300.3M | $247.5M | $527.2M | $211.2M | $457.9M | $389.0M | $264.9M | $494.2M | $0 |
| Dividends paid | $499.5M | $526.3M | $562.5M | $610.3M | $640.7M | $686.0M | $775.0M | $889.1M | $1.1B | $1.1B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into HSY?
A reverse DCF asks what growth the current price requires. With an enterprise value of $39.2B and $2.2B of trailing free cash flow, Hershey needs to grow free cash flow about 7.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 7.7% a year over the last five years.
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
HSY dividend
- Dividend yield
- 3.42%
- Annual dividend
- $5.81
- Years of increases
- —
- 5-yr dividend growth
- 11.7%
- per year
- Payout ratio
- 77%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
HSY earnings
Next report: October 29, 2026. Hershey has beaten EPS estimates 7 quarters in a row. Last quarter's revenue was $2.8B (+7% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 30, 2026 | $1.43 | $1.90 | +33.1% |
| Apr 30, 2026 | $2.04 | $2.35 | +14.9% |
| Feb 5, 2026 | $1.40 | $1.71 | +21.8% |
| Oct 30, 2025 | $1.06 | $1.30 | +22.2% |
| Jul 30, 2025 | $1.00 | $1.21 | +20.4% |
| May 1, 2025 | $1.93 | $2.09 | +8.0% |
| Feb 6, 2025 | $2.38 | $2.69 | +13.3% |
| Nov 7, 2024 | $2.55 | $2.34 | -8.3% |
Stocks like HSY
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 MDLZ Mondelez International | -2.13% | +8% | $81.4B | 23.5x | Compare |
 KHC Kraft Heinz | -1.16% | +4% | $29.4B | — | Compare |
 TSN Tyson Foods | -0.65% | +13% | $19.9B | 35.0x | Compare |
 GIS General Mills | -2.25% | -23% | $18.4B | — | Compare |
 SJM J.M. Smucker | -2.56% | +32% | $13.9B | 60.7x | Compare |
 MKC McCormick & Company, Incorporat | -1.21% | -26% | $12.9B | 8.7x | Compare |
 HRL Hormel Foods | -1.40% | -6% | $11.6B | 34.0x | Compare |
 WMT Walmart | -1.02% | +13% | $954.1B | 43.4x | Compare |
HSY news
- Why Hershey’s Sneaky Volume Problem Could Spoil Its Q3 on Oct. 29? · Oct 25, 2026
- Is Earnings Optimism Altering The Investment Case For Hershey Stock (HSY)? · Oct 23, 2026
- Hershey (HSY) Could Be 122% Above Fair Value After Earnings Optimism · Oct 23, 2026
- The Consumer Staples Rally Is Masking Hershey’s Deeply Flawed Fundamentals · Oct 23, 2026
- Right on the Dot’s: Why the pretzel brand is key to Hershey’s salty snack ambitions · Oct 22, 2026
HSY stock FAQ
What is HSY's market cap?
Hershey's market capitalization is $34.09 billion as of October 23, 2026, ranking 303rd in the S&P 500.
What is HSY's P/E ratio?
HSY trades at a trailing price-to-earnings ratio of 23.2x and a forward P/E of 17.2x.
Does HSY pay a dividend?
Yes. Hershey pays $5.81 per share a year, a 3.42% yield. Dividends grew 11.7% a year over the last five years.
How much has HSY stock returned?
Including reinvested dividends, HSY returned -3.8% over one year, +1.1% a year over five years, +8.5% a year over ten years through October 23, 2026.
Is HSY stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Hershey must grow free cash flow about 7% a year for the next decade. Its free cash flow grew 8% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does HSY report earnings?
Hershey is expected to report earnings on October 29, 2026. It has beaten EPS estimates 7 quarters in a row.
How many employees does Hershey have?
Hershey has about 17,550 full-time employees, or $693,100 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology