HSY FY 2025 Earnings Report — The Hershey Company Revenue & Financial Results | Market Cap Arena

The Hershey CompanyHSY

FY 2025 Earnings

Reported February 17, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$11.7B	—	$11.2B	—	4.4%
Op. Income	$1.4B	—	$2.9B	—	-51.1%
Gross Margin	33.3%	—	47.3%	—	-14.1pp
Net Margin	7.6%	—	19.8%	—	-12.3pp
EPS (Diluted)	$4.34	—	$10.94	—	-60.3%
Free Cash Flow	$1.7B	—	$1.9B	—	-9.2%

Revenue Flow

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$7.8B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$1.9B
General & Administrative	$560M
SG&A Expenses	$2.5B
Other Expenses	$18M
Operating Expenses	$2.5B
Cost & Expenses	$10.3B
OPERATING INCOME	$1.4B
Interest Income	$28M
Interest Expense	$207M
Other Income/Expenses	-$203M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$331M
Net Income from Continuing Ops	$883M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$883M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$883M
D&A	$0
EBIT	$1.4B
EBITDA	$1.4B
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$11.7B
Cost of Revenue	$7.8B
GROSS PROFIT	$3.9B
R&D Expenses	$0
Selling & Marketing	$1.9B
General & Administrative	$560M
SG&A Expenses	$2.5B
Other Expenses	$18M
Operating Expenses	$2.5B
Cost & Expenses	$10.3B
OPERATING INCOME	$1.4B
Interest Income	$28M
Interest Expense	$207M
Other Income/Expenses	-$203M
INCOME BEFORE TAX	$1.2B
Income Tax Expense	$331M
Net Income from Continuing Ops	$883M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$883M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$883M
D&A	$0
EBIT	$1.4B
EBITDA	$1.4B
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$883M
Depreciation & Amortization	$504M
Stock-Based Compensation	$65M
Deferred Income Tax	$122M
Other Non-Cash Items	$663M
Change in Working Capital	$40M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	-$528M
Acquisitions (Net)	-$756M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$523M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	$279M
Common Stock Repurchased	$0
Common Dividends Paid	-$1.1B
Other Financing Activities	-$19M
NET CASH FROM FINANCING	-$803M
FREE CASH FLOW	$1.7B
Net Change in Cash	$195M

Balance Sheet

Item	Amount
Cash & Equivalents	$926M
Short-Term Investments	$0
Net Receivables	$730M
Inventory	$1.4B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$3.6B
PP&E (Net)	$3.5B
Goodwill	$3.0B
Intangible Assets	$2.5B
Long-Term Investments	$0
Tax Assets	$28M
Other Non-Current Assets	$1.1B
TOTAL NON-CURRENT ASSETS	$10.2B
TOTAL ASSETS	$13.7B
Account Payables	$1.3B
Short-Term Debt	$722M
Deferred Revenue	$0
Other Current Liabilities	$971M
TOTAL CURRENT LIABILITIES	$3.0B
Long-Term Debt	$4.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$680M
Other Non-Current Liabilities	$732M
TOTAL NON-CURRENT LIABILITIES	$6.1B
TOTAL LIABILITIES	$9.1B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$4.6B
TOTAL STOCKHOLDERS' EQUITY	$4.6B
Minority Interest	$0
TOTAL EQUITY	$4.6B
TOTAL LIABILITIES & EQUITY	$13.7B
Total Debt	$5.4B
Net Debt	$4.5B