HERSHEY CO/THE (HSY.DE) Fundamental Analysis & Valuation

FRA:HSY • US4278661081

192.7 EUR
-0.96 (-0.5%)
Last: Mar 9, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This HSY.DE fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Taking everything into account, HSY scores 5 out of 10 in our fundamental rating. HSY was compared to 64 industry peers in the Food Products industry. HSY has an excellent profitability rating, but there are some minor concerns on its financial health. HSY is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. HSY.DE Profitability Analysis

1.1 Basic Checks

  • In the past year HSY was profitable.
  • In the past year HSY had a positive cash flow from operations.
  • In the past 5 years HSY has always been profitable.
  • Each year in the past 5 years HSY had a positive operating cash flow.
HSY.DE Yearly Net Income VS EBIT VS OCF VS FCFHSY.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B 2.5B

1.2 Ratios

  • HSY has a better Return On Assets (6.43%) than 76.56% of its industry peers.
  • HSY has a better Return On Equity (19.05%) than 85.94% of its industry peers.
  • With an excellent Return On Invested Capital value of 11.14%, HSY belongs to the best of the industry, outperforming 89.06% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for HSY is significantly above the industry average of 7.07%.
  • The last Return On Invested Capital (11.14%) for HSY is well below the 3 year average (18.61%), which needs to be investigated, but indicates that HSY had better years and this may not be a problem.
Industry RankSector Rank
ROA 6.43%
ROE 19.05%
ROIC 11.14%
ROA(3y)13.08%
ROA(5y)13.69%
ROE(3y)37.19%
ROE(5y)43%
ROIC(3y)18.61%
ROIC(5y)19.34%
HSY.DE Yearly ROA, ROE, ROICHSY.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

1.3 Margins

  • HSY's Profit Margin of 7.55% is fine compared to the rest of the industry. HSY outperforms 76.56% of its industry peers.
  • In the last couple of years the Profit Margin of HSY has declined.
  • HSY has a better Operating Margin (12.84%) than 79.69% of its industry peers.
  • In the last couple of years the Operating Margin of HSY has declined.
  • HSY's Gross Margin of 33.55% is in line compared to the rest of the industry. HSY outperforms 53.13% of its industry peers.
  • In the last couple of years the Gross Margin of HSY has declined.
Industry RankSector Rank
OM 12.84%
PM (TTM) 7.55%
GM 33.55%
OM growth 3Y-16.11%
OM growth 5Y-10.52%
PM growth 3Y-21.78%
PM growth 5Y-13.6%
GM growth 3Y-8.07%
GM growth 5Y-5.89%
HSY.DE Yearly Profit, Operating, Gross MarginsHSY.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. HSY.DE Health Analysis

2.1 Basic Checks

  • HSY has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • Compared to 1 year ago, HSY has more shares outstanding
  • HSY has less shares outstanding than it did 5 years ago.
  • The debt/assets ratio for HSY has been reduced compared to a year ago.
HSY.DE Yearly Shares OutstandingHSY.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M
HSY.DE Yearly Total Debt VS Total AssetsHSY.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • An Altman-Z score of 4.80 indicates that HSY is not in any danger for bankruptcy at the moment.
  • HSY has a better Altman-Z score (4.80) than 92.19% of its industry peers.
  • HSY has a debt to FCF ratio of 3.09. This is a good value and a sign of high solvency as HSY would need 3.09 years to pay back of all of its debts.
  • The Debt to FCF ratio of HSY (3.09) is better than 87.50% of its industry peers.
  • HSY has a Debt/Equity ratio of 1.06. This is a high value indicating a heavy dependency on external financing.
  • HSY has a worse Debt to Equity ratio (1.06) than 75.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.06
Debt/FCF 3.09
Altman-Z 4.8
ROIC/WACC1.37
WACC8.11%
HSY.DE Yearly LT Debt VS Equity VS FCFHSY.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 1.19 indicates that HSY should not have too much problems paying its short term obligations.
  • HSY's Current ratio of 1.19 is in line compared to the rest of the industry. HSY outperforms 46.88% of its industry peers.
  • HSY has a Quick Ratio of 1.19. This is a bad value and indicates that HSY is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of HSY (0.72) is worse than 62.50% of its industry peers.
Industry RankSector Rank
Current Ratio 1.19
Quick Ratio 0.72
HSY.DE Yearly Current Assets VS Current LiabilitesHSY.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. HSY.DE Growth Analysis

3.1 Past

  • The earnings per share for HSY have decreased strongly by -32.66% in the last year.
  • HSY shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.06% yearly.
  • The Revenue has been growing slightly by 4.38% in the past year.
  • Measured over the past years, HSY shows a small growth in Revenue. The Revenue has been growing by 7.49% on average per year.
EPS 1Y (TTM)-32.66%
EPS 3Y-9.52%
EPS 5Y0.06%
EPS Q2Q%-36.43%
Revenue 1Y (TTM)4.38%
Revenue growth 3Y3.92%
Revenue growth 5Y7.49%
Sales Q2Q%7.05%

3.2 Future

  • The Earnings Per Share is expected to grow by 13.41% on average over the next years. This is quite good.
  • Based on estimates for the next years, HSY will show a small growth in Revenue. The Revenue will grow by 3.23% on average per year.
EPS Next Y34.93%
EPS Next 2Y25.47%
EPS Next 3Y20.45%
EPS Next 5Y13.41%
Revenue Next Year5.69%
Revenue Next 2Y4.01%
Revenue Next 3Y3.61%
Revenue Next 5Y3.23%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
HSY.DE Yearly Revenue VS EstimatesHSY.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5B 10B 15B
HSY.DE Yearly EPS VS EstimatesHSY.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2 4 6 8 10

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2

4. HSY.DE Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 35.36, HSY can be considered very expensive at the moment.
  • 67.19% of the companies in the same industry are cheaper than HSY, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of HSY to the average of the S&P500 Index (26.15), we can say HSY is valued slightly more expensively.
  • A Price/Forward Earnings ratio of 26.21 indicates a quite expensive valuation of HSY.
  • Based on the Price/Forward Earnings ratio, HSY is valued a bit more expensive than 70.31% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of HSY to the average of the S&P500 Index (24.27), we can say HSY is valued inline with the index average.
Industry RankSector Rank
PE 35.36
Fwd PE 26.21
HSY.DE Price Earnings VS Forward Price EarningsHSY.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, HSY is valued a bit more expensive than 73.44% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as HSY.
Industry RankSector Rank
P/FCF 25.86
EV/EBITDA 24.69
HSY.DE Per share dataHSY.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30 40

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of HSY may justify a higher PE ratio.
  • HSY's earnings are expected to grow with 20.45% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.01
PEG (5Y)556.71
EPS Next 2Y25.47%
EPS Next 3Y20.45%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. HSY.DE Dividend Analysis

5.1 Amount

  • HSY has a Yearly Dividend Yield of 2.56%. Purely for dividend investing, there may be better candidates out there.
  • HSY's Dividend Yield is a higher than the industry average which is at 2.43.
  • HSY's Dividend Yield is a higher than the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.56%

5.2 History

  • On average, the dividend of HSY grows each year by 11.76%, which is quite nice.
Dividend Growth(5Y)11.76%
Div Incr Years1
Div Non Decr Years1
HSY.DE Yearly Dividends per shareHSY.DE Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 2026 1 2 3 4 5

5.3 Sustainability

  • 122.87% of the earnings are spent on dividend by HSY. This is not a sustainable payout ratio.
  • HSY's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP122.87%
EPS Next 2Y25.47%
EPS Next 3Y20.45%
HSY.DE Yearly Income VS Free CF VS DividendHSY.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B
HSY.DE Dividend Payout.HSY.DE Dividend Payout, showing the Payout Ratio.HSY.DE Dividend Payout.PayoutRetained Earnings

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HSY.DE Fundamentals: All Metrics, Ratios and Statistics

HERSHEY CO/THE

FRA:HSY (3/9/2026, 7:00:00 PM)

192.7

-0.96 (-0.5%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)02-05
Earnings (Next)04-29
Inst Owners88.65%
Inst Owner ChangeN/A
Ins Owners0.24%
Ins Owner ChangeN/A
Market Cap39.06B
Revenue(TTM)11.69B
Net Income(TTM)883.26M
Analysts67.59
Price Target195.22 (1.31%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.56%
Yearly Dividend4.63
Dividend Growth(5Y)11.76%
DP122.87%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)20.5%
Min EPS beat(2)20.39%
Max EPS beat(2)20.62%
EPS beat(4)4
Avg EPS beat(4)17.02%
Min EPS beat(4)6.26%
Max EPS beat(4)20.83%
EPS beat(8)6
Avg EPS beat(8)8.59%
EPS beat(12)10
Avg EPS beat(12)7.54%
EPS beat(16)14
Avg EPS beat(16)8.15%
Revenue beat(2)2
Avg Revenue beat(2)1.96%
Min Revenue beat(2)1.19%
Max Revenue beat(2)2.73%
Revenue beat(4)3
Avg Revenue beat(4)1.49%
Min Revenue beat(4)-0.59%
Max Revenue beat(4)2.73%
Revenue beat(8)5
Avg Revenue beat(8)-0.59%
Revenue beat(12)7
Avg Revenue beat(12)-0.46%
Revenue beat(16)11
Avg Revenue beat(16)0.73%
PT rev (1m)15.98%
PT rev (3m)20.21%
EPS NQ rev (1m)11.88%
EPS NQ rev (3m)12.69%
EPS NY rev (1m)17.94%
EPS NY rev (3m)22.72%
Revenue NQ rev (1m)1.7%
Revenue NQ rev (3m)1.87%
Revenue NY rev (1m)1.94%
Revenue NY rev (3m)2.11%
Valuation
Industry RankSector Rank
PE 35.36
Fwd PE 26.21
P/S 3.87
P/FCF 25.86
P/OCF 19.86
P/B 9.76
P/tB N/A
EV/EBITDA 24.69
EPS(TTM)5.45
EY2.83%
EPS(NY)7.35
Fwd EY3.82%
FCF(TTM)7.45
FCFY3.87%
OCF(TTM)9.7
OCFY5.03%
SpS49.81
BVpS19.75
TBVpS-5.05
PEG (NY)1.01
PEG (5Y)556.71
Graham Number49.22
Profitability
Industry RankSector Rank
ROA 6.43%
ROE 19.05%
ROCE 13.99%
ROIC 11.14%
ROICexc 12.17%
ROICexgc 29.05%
OM 12.84%
PM (TTM) 7.55%
GM 33.55%
FCFM 14.96%
ROA(3y)13.08%
ROA(5y)13.69%
ROE(3y)37.19%
ROE(5y)43%
ROIC(3y)18.61%
ROIC(5y)19.34%
ROICexc(3y)19.85%
ROICexc(5y)20.49%
ROICexgc(3y)42.97%
ROICexgc(5y)47.25%
ROCE(3y)25.08%
ROCE(5y)26.14%
ROICexgc growth 3Y-21.82%
ROICexgc growth 5Y-11.95%
ROICexc growth 3Y-19.39%
ROICexc growth 5Y-12.71%
OM growth 3Y-16.11%
OM growth 5Y-10.52%
PM growth 3Y-21.78%
PM growth 5Y-13.6%
GM growth 3Y-8.07%
GM growth 5Y-5.89%
F-Score4
Asset Turnover0.85
Health
Industry RankSector Rank
Debt/Equity 1.06
Debt/FCF 3.09
Debt/EBITDA 2.44
Cap/Depr 104.87%
Cap/Sales 4.52%
Interest Coverage 7.66
Cash Conversion 113.61%
Profit Quality 198.03%
Current Ratio 1.19
Quick Ratio 0.72
Altman-Z 4.8
F-Score4
WACC8.11%
ROIC/WACC1.37
Cap/Depr(3y)140.55%
Cap/Depr(5y)143.23%
Cap/Sales(3y)5.61%
Cap/Sales(5y)5.47%
Profit Quality(3y)122.7%
Profit Quality(5y)117.24%
High Growth Momentum
Growth
EPS 1Y (TTM)-32.66%
EPS 3Y-9.52%
EPS 5Y0.06%
EPS Q2Q%-36.43%
EPS Next Y34.93%
EPS Next 2Y25.47%
EPS Next 3Y20.45%
EPS Next 5Y13.41%
Revenue 1Y (TTM)4.38%
Revenue growth 3Y3.92%
Revenue growth 5Y7.49%
Sales Q2Q%7.05%
Revenue Next Year5.69%
Revenue Next 2Y4.01%
Revenue Next 3Y3.61%
Revenue Next 5Y3.23%
EBIT growth 1Y-49.96%
EBIT growth 3Y-12.82%
EBIT growth 5Y-3.82%
EBIT Next Year62.91%
EBIT Next 3Y25.58%
EBIT Next 5Y15.17%
FCF growth 1Y-9.17%
FCF growth 3Y-1.1%
FCF growth 5Y7.01%
OCF growth 1Y-10.04%
OCF growth 3Y-0.73%
OCF growth 5Y6.17%

HERSHEY CO/THE / HSY.DE FAQ

What is the fundamental rating for HSY stock?

ChartMill assigns a fundamental rating of 5 / 10 to HSY.DE.


Can you provide the valuation status for HERSHEY CO/THE?

ChartMill assigns a valuation rating of 2 / 10 to HERSHEY CO/THE (HSY.DE). This can be considered as Overvalued.


What is the profitability of HSY stock?

HERSHEY CO/THE (HSY.DE) has a profitability rating of 7 / 10.


Can you provide the PE and PB ratios for HSY stock?

The Price/Earnings (PE) ratio for HERSHEY CO/THE (HSY.DE) is 35.36 and the Price/Book (PB) ratio is 9.76.


Can you provide the expected EPS growth for HSY stock?

The Earnings per Share (EPS) of HERSHEY CO/THE (HSY.DE) is expected to grow by 34.93% in the next year.