# The Hershey Company (HSY) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Consumer Defensive / Food & Staples Retailing. Price $173.15, market value $34.8 billion.

## Valuation
- **P/E (trailing): 23.7×**. The Hershey Company trades at 23.7× trailing earnings. The Consumer Defensive median in the September 2026 study was 20.1×. Forward P/E is 17.5×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 2.9×**. Each dollar of revenue is priced at 2.9×.
- **Price / book: 7.6×**. The shares trade at 7.6× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 14.8×**. Enterprise value is 14.8× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 6.4%**. Free cash flow equals 6.4% of the market value. Above 5% is generally attractive.
- **Earnings yield: 4.2%**. The inverse of the P/E: 4.2% of the price is earned each year.

## Profitability
- **Gross margin: 38.4%**. The Hershey Company keeps 38.4% of revenue after the direct cost of what it sells.
- **Operating margin: 17.8%**. 17.8% of revenue is left after running the business, a healthy level in most sectors.
- **Net margin: 7.6%**. 7.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 19.0%**. 19.0% on shareholders' equity is solid.
- **Return on invested capital: 17.4%**. Return on all capital, debt included, is 17.4%: comfortably above what that capital costs.
- **Return on assets: 10.8%**. Each dollar of assets produces 10.8% of profit.

## Growth
- **Revenue growth (1 yr): 4.4%** (3-yr 3.9%/yr, 5-yr 7.5%/yr). Revenue grew 4.4% over the last year, against 7.5% a year compounded over five years: growth is slowing.
- **Free-cash-flow growth (3 yr): 0.3%/yr**. Free cash flow has compounded at 0.3% a year over three years.

## Financial health
- **Debt to equity: 1.12**. Debt is 1.12 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Current ratio: 1.19** (quick 1.19). Current assets cover the next year's liabilities 1.19 times.
- **Altman Z-score: 4.01**. A Z-score of 4.01 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.35%** ($5.64 per share, trailing). The Hershey Company yields 3.35%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 123%** (50% of free cash flow). The dividend exceeds earnings (123% payout), though free cash flow still covers it.
- **Consecutive years of increases: 26**. 26 straight years of increases (the data covers 26 years, so this may be longer): a record very few companies hold.
- **Dividend growth (5 yr): 11.7%/yr** (1-yr 0.0%). The dividend has compounded at 11.7% a year over five years, doubling roughly every 6 years at that pace.

## Analyst view
- **Analyst consensus: buy** (21 analysts). 21 analysts cover The Hershey Company; the consensus is buy, with an average price target of $205.52 (+19% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -4.5%** (YTD -3.5%, 3-mo -6.2%). The shares are down 4.5% over twelve months including dividends.
- **From 52-week high: -27.7%** (7.3% above the low). Trading 28% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 38**. An RSI of 38 is neutral.
- **Beta (1 yr): -0.11** (volatility 27%). Beta of -0.11 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HSY · Page: https://foliofundamentals.com/stocks/hsy

Not investment advice.