HERSHEY CO

Listed Company

HSYCIK 0000047111NYSELarge AcceleratedSugar & Confectionery ProductsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$11.69B

Net Income

$883.26M

Total Assets

$13.74B

Equity

$4.64B

Shares Out

202.84M

Op. Cash Flow

$2.28B

Business

HERSHEY CO is a global confectionery leader that manufactures and markets chocolate, sweets, mints and other ready-to-eat snacks. It offers chocolate and non‑chocolate confectionery, gum and mints, protein bars, spreads, popcorn, pretzels, snack bites and pantry items under more than 90 brands including Hershey’s and Reese’s. The company operates through three reportable segments: North America Confectionery, North America Salty Snacks and International. It sells primarily in the United States and Canada, with manufacturing and distribution in Mexico, Brazil, India, Malaysia and exports to roughly 70 countries through wholesalers, retailers, clubs, convenience and vending channels.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	11,693	11,202	11,165	10,419	8,971
Cost of sales	7,770	5,901	6,167	5,921	4,923
Gross profit	3,923	5,301	4,998	4,499	4,049
Selling, marketing and administrative expense	2,461	2,374	2,437	2,236	2,001
Business realignment costs	21	29	441,000	2	4
Operating profit	1,442	2,898	2,561	2,261	2,044
Interest expense, net	190	166	152	138	127
Other (income) expense, net	37	259	237	206	119
Income before income taxes	1,214	2,474	2,172	1,917	1,797
Provision for income taxes	331	253	310	272	314
Net income	883	2,221	1,862	1,645	1,478

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	926	731	402	464	329
Accounts receivabletrade, net	730	800	824	711	671
Inventories	1,429	1,254	1,341	1,173	989
Prepaid expenses and other	504	974	346	272	257
Total current assets	3,589	3,759	2,912	2,620	2,246
Property, plant and equipment, net	3,530	3,459	3,310	2,770	2,586
Goodwill	2,996	2,706	2,696	2,607	2,633
Other intangibles	2,476	1,874	1,879	1,966	2,038
Other non-current assets	1,123	1,112	1,061	945	868
Deferred income taxes	28	37	44	40	41
Total assets	13,741	12,947	11,903	10,949	10,412
Accounts payable	1,256	1,159	1,086	971	692
Accrued liabilities	971	807	868	833	856
Accrued income taxes	64	51	29	7	3
Short-term debt	219	1,307	720	694	939
Current portion of long-term debt	503	605	305	754	3
Total current liabilities	3,012	3,929	3,008	3,257	2,493
Long-term debt	4,681	3,190	3,789	3,344	4,087
Other long-term liabilities	732	688	661	720	787
Deferred income taxes	680	424	346	328	288
Total liabilities	9,105	8,232	7,804	7,649	7,655
Preferred stock, shares issued: none in 2025 and 2024	0	0	0	0	0
Additional paid-in capital	1,427	1,377	1,346	1,297	1,260
Retained earnings	5,495	5,698	4,562	3,590	2,720
Treasurycommon stock shares, at cost: 18,713,369 in 2025 and 19,169,956 in 2024	−2,260	−2,279	−1,800	−1,556	−1,195
Accumulated other comprehensive loss	−247	−304	−230	−252	−249
Total stockholders equity	4,637	4,715	4,099	3,300	2,757
Total liabilities and stockholders equity	13,741	12,947	11,903	10,949	10,412

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	504	455	420	379	315
Stock-based compensation expense	65	44	81	66	67
Deferred income taxes	122	73	16	37	13
Goodwill impairment charges	6	0	0	—	—
Write-down of equity investments	24	243	210	188	114
Unrealized losses (gains) on derivative contracts	530	−514	0	0	—
Other	101	77	103	121	96
Accounts receivabletrade, net	99	4	−102	−38	−15
Inventories	−133	69	−157	−187	21
Prepaid expenses and other current assets	−154	−90	−22	−15	9
Accounts payable and accrued liabilities	163	29	50	216	40
Accrued income taxes	82	−17	−32	5	−30
Contributions to pension and other benefit plans	−16	−16	−28	−79	−51
Other assets and liabilities	−2	−48	−78	−11	21
Net cash provided by operating activities	2,277	2,532	2,323	2,328	2,083
Capital additions (including software)	−455	−606	−771	−519	−496
Receipts (payments) related to equity investments in tax credit qualifying partnerships	12	−285	−257	—	—
Business acquisitions, net of cash and cash equivalents acquired	−756	−76	−166	0	−1,601
Purchase of intangible assets	−74	0	0	—	—
Other investing activities	−6	7	−5	8	3
Net cash used in investing activities	−1,279	−960	−1,199	−787	−2,223
Net (decrease) increase in short-term debt	−1,099	607	26	−246	869
Long-term borrowings, net of debt issuance costs	1,985	0	744	0	0
Repayment of long-term debt and finance leases	−606	−306	−755	−5	−439
Cash dividends paid	−1,085	−1,085	−889	−775	−686
Repurchase of common stock	0	−494	−265	−389	−458
Exercise of stock options	21	15	26	34	50
Payment, Tax Withholding, Share-Based Payment Arrangement	−19	−33	−35	−36	−17
Net cash used in financing activities	−803	−1,297	−1,148	−1,416	−681
Effect of exchange rate changes on cash and cash equivalents	−180,000	54	−38	10	−5
Net (decrease) increase in cash and cash equivalents	195	329	−62	135	−815
Interest paid	196	180	161	132	128
Income taxes paid	141	202	304	221	275

Filings

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