Company Analysis

The Hershey Company (HSY)

NYSE: HSY · Sugar & Confectionery Products · Hershey, PA · filing with the SEC since 1994
Grade6.1
◀ Past 7.0● Present 6.0▶ Future 5.2
1 est.

The grade of The Hershey Company

Nine metrics read from its own filings, by tense
Headline grade
6.1/10
◀ Past7.030% of the headline
● Present6.040% of the headline
▶ Future5.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.0/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
5.1/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2017-02-27.

weight 33% of this tense · 51st percentile among 42 sector filers · read for itself

From the record

The Hershey Company's filings since 2017 show 1 warning event: an auditor change (8-K item 4.01, the latest 2017-02-27) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
8.1/10

What has it actually done, year after year?

+5.7% a year over 9 filed years; profitable in 9 of 9.

weight 45% of this tense · 81st percentile among 42 sector filers · read for its customers

From the record

The Hershey Company's 9 filed years say what it did: revenue went from $7.5 billion in fiscal 2017 to $12 billion in fiscal 2025, up 5.7% a year; it rose in 8 of 8 years; it never fell from a peak; net income was positive in 9 of 9 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span5.7%top 32% of its family
  • the share of years revenue rosetop 10% of its family
  • the share of filed years with a profittop 24% of its family
  • the deepest fall from a revenue peak0.0%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
7.7/10

How has it treated the people who own it?

SI estimate 7.7/10, confidence 35 of 100 (one part).

weight 22% of this tense · 77th percentile among 42 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the cash returned against operating cash flow, which ranks in the top 23% of 42 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: cash returned against operating cash flow, the one part on file, ranked among 42 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: The Hershey Company's shareholder treatment is put at 7.7 of 10 with a confidence of 35 of 100, because read from one part only, the cash returned against operating cash flow, which ranks in the top 23% of 42 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

6.0/1040% of the headline grade · 3 of 3 filed

Financial health

as filed
6.2/10

Is it financially healthy right now?

ROE 19%: 19¢ of profit per shareholder dollar. Leverage 66%: owes 66¢ per asset dollar.

weight 45% of this tense · 62nd percentile among 42 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, The Hershey Company earned about 19 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 29 cents per dollar of everything the company owns. Leverage: it owed about 66 cents per dollar of assets (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 25% of its family
  • return on equitytop 9% of its family
  • gross profit against assetstop 30% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.4/10

How strong is its position in its industry?

top 26% of 42 in its family; net margin 7.6%.

weight 33% of this tense · 74th percentile among 42 sector filers · read for its customers

From the record

The Hershey Company's standing among 42 graded names in its industry family: revenue of $12 billion in fiscal 2025 ranks in the top 27% by size; a net margin of 7.6% ranks in the top 20%; revenue growth of 3.9% a year over the last 3 filed years ranks in the top 32% (its annual reports).

What it rests on

  • revenue against the family$11.69Btop 27% of its family
  • net margin7.6%top 20% of its family
  • three-year revenue growth3.9%top 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
3.6/10

What are the people in charge doing?

bottom 36% of 26 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 36th percentile among 26 sector filers · read for its shareholders

From the record

The Hershey Company's leadership, from its insiders' filings and its current reports: the chief executive on the record is Tanner, Kirk (President and CEO, as filed), filing under that title since 2025-08-20, 1.2 years (bottom 20% of its family); most of the 27 officers and directors filing now have filed since the record of its people begins (2025-04-23), a floor of 1.6 years the record cannot see past, so that part is not read; 12 officer or director changes were reported on Form 8-K since 2023-11-13, against the 27 people in charge now (top 48%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge12 in three years among 27 peopletop 48% of its family
  • the chief executive's years on the record1.2 yearsbottom 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

5.2/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
5.7/10

How much room does it have to grow?

top 43% of 42 in its family for room to expand.

weight 45% of this tense · 57th percentile among 42 sector filers · read for itself

From the record

The Hershey Company's room to grow, from the newest filed statements (fiscal 2025): cash of $926 million against debt of $4.7 billion leaves -27.3% of its assets as net cash, bottom 20% of its family; cash from operations less capital spending is 15.6% of revenue (top 11%); a gross margin of 33.5% (top 30%); research spending of 0.5% of revenue (top 50%) (its annual report).

What it rests on

  • cash less debt against assets-27.3%bottom 20% of its family
  • cash from operations less capital spending against revenue15.6%top 11% of its family
  • gross margin33.5%top 30% of its family
  • research spending against revenue0.5%top 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.8/10

What could actually drive growth from here?

top 42% of 42 in its family for growth drivers.

weight 33% of this tense · 58th percentile among 42 sector filers · read for its customers

From the record

The Hershey Company's growth drivers, from the filed years to fiscal 2025: revenue grew 3.9% a year over the last three filed years against 5.7% over all 9, slowing (top 42% of its family); the newest year grew 4.4% (top 35%); research spending grew 9.5% a year (top 40%); capital spending grew -4.3% a year (bottom 49%) (its annual reports). The Hershey Company reported 3 lines of business in fiscal 2025: North America Confectionery at $9.5 billion, North America Salty Snacks at $1.3 billion, International at $942 million. 2 of 3 grew in the latest filed year, and the largest line is 81% of revenue (its annual report).

What it rests on

  • three-year growth against the whole span-1.8 points a yeartop 42% of its family
  • the newest year's revenue growth4.4%top 35% of its family
  • three-year growth of research spending9.5%top 40% of its family
  • three-year growth of capital spending-4.3%bottom 49% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
3.2/10

Did its newest year beat what its own record pointed to?

bottom 32% of 39 in its family for expectations against reality.

weight 22% of this tense · 32nd percentile among 39 sector filers · read for its shareholders

From the record

The Hershey Company's newest year against its own record: revenue of $12 billion in fiscal 2025 came in 0.7% above the $12 billion its prior three years' pace pointed to (top 50% of its family); net income of $883 million against a prior three-year average of $1.9 billion (bottom 27%); a net margin of 7.6% against 17.4% before (bottom 19%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace0.7%top 50% of its family
  • net income against the prior three years' average-54%bottom 27% of its family
  • net margin against its prior average-9.9 pointsbottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton HSY · research, not advice