HERSHEY CO/THE (HSY.DE) Stock Fundamental Analysis

Europe • Frankfurt Stock Exchange • FRA:HSY • US4278661081

186.68 EUR
+13.46 (+7.77%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

6

HSY gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 67 industry peers in the Food Products industry. While HSY has a great profitability rating, there are some minor concerns on its financial health. HSY does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

9

1. Profitability

1.1 Basic Checks

  • HSY had positive earnings in the past year.
  • In the past year HSY had a positive cash flow from operations.
  • HSY had positive earnings in each of the past 5 years.
  • 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 500M 1B 1.5B 2B 2.5B

1.2 Ratios

  • HSY has a Return On Assets of 10.01%. This is amongst the best in the industry. HSY outperforms 92.54% of its industry peers.
  • With an excellent Return On Equity value of 29.79%, HSY belongs to the best of the industry, outperforming 94.03% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 16.48%, HSY belongs to the top of the industry, outperforming 97.01% 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 7.31%.
  • The 3 year average ROIC (23.99%) for HSY is well above the current ROIC(16.48%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 10.01%
ROE 29.79%
ROIC 16.48%
ROA(3y)15.94%
ROA(5y)15.2%
ROE(3y)47.46%
ROE(5y)50.64%
ROIC(3y)23.99%
ROIC(5y)22.85%
HSY.DE Yearly ROA, ROE, ROICHSY.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

1.3 Margins

  • The Profit Margin of HSY (11.84%) is better than 91.04% of its industry peers.
  • HSY's Profit Margin has improved in the last couple of years.
  • HSY's Operating Margin of 17.27% is amongst the best of the industry. HSY outperforms 95.52% of its industry peers.
  • In the last couple of years the Operating Margin of HSY has grown nicely.
  • HSY has a Gross Margin of 37.74%. This is comparable to the rest of the industry: HSY outperforms 58.21% of its industry peers.
  • In the last couple of years the Gross Margin of HSY has remained more or less at the same level.
Industry RankSector Rank
OM 17.27%
PM (TTM) 11.84%
GM 37.74%
OM growth 3Y4.4%
OM growth 5Y4.06%
PM growth 3Y6.38%
PM growth 5Y6.61%
GM growth 3Y1.55%
GM growth 5Y0.85%
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 10 20 30 40

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6

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so HSY is creating value.
  • HSY has less shares outstanding than it did 1 year ago.
  • HSY has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, HSY has an improved debt to assets ratio.
HSY.DE Yearly Shares OutstandingHSY.DE Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2B 4B 6B 8B 10B

2.2 Solvency

  • HSY has an Altman-Z score of 4.97. This indicates that HSY is financially healthy and has little risk of bankruptcy at the moment.
  • With an excellent Altman-Z score value of 4.97, HSY belongs to the best of the industry, outperforming 86.57% of the companies in the same industry.
  • HSY has a debt to FCF ratio of 3.05. This is a good value and a sign of high solvency as HSY would need 3.05 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 3.05, HSY belongs to the top of the industry, outperforming 85.07% of the companies in the same industry.
  • HSY has a Debt/Equity ratio of 1.07. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.07, HSY is not doing good in the industry: 74.63% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 3.05
Altman-Z 4.97
ROIC/WACC1.99
WACC8.26%
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 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 1.36 indicates that HSY should not have too much problems paying its short term obligations.
  • With a Current ratio value of 1.36, HSY perfoms like the industry average, outperforming 56.72% of the companies in the same industry.
  • HSY has a Quick Ratio of 1.36. This is a bad value and indicates that HSY is not financially healthy enough and could expect problems in meeting its short term obligations.
  • HSY has a Quick ratio of 0.83. This is comparable to the rest of the industry: HSY outperforms 47.76% of its industry peers.
Industry RankSector Rank
Current Ratio 1.36
Quick Ratio 0.83
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 1B 2B 3B

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

3

3. Growth

3.1 Past

  • The earnings per share for HSY have decreased strongly by -16.21% in the last year.
  • HSY shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 10.11% yearly.
  • Looking at the last year, HSY shows a small growth in Revenue. The Revenue has grown by 4.71% in the last year.
  • Measured over the past years, HSY shows a small growth in Revenue. The Revenue has been growing by 7.00% on average per year.
EPS 1Y (TTM)-16.21%
EPS 3Y9.28%
EPS 5Y10.11%
EPS Q2Q%-44.44%
Revenue 1Y (TTM)4.71%
Revenue growth 3Y7.68%
Revenue growth 5Y7%
Sales Q2Q%6.49%

3.2 Future

  • HSY is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 2.75% yearly.
  • Based on estimates for the next years, HSY will show a small growth in Revenue. The Revenue will grow by 3.41% on average per year.
EPS Next Y-35.36%
EPS Next 2Y-12.7%
EPS Next 3Y-3.89%
EPS Next 5Y2.75%
Revenue Next Year3.72%
Revenue Next 2Y3.63%
Revenue Next 3Y3.36%
Revenue Next 5Y3.41%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 30.21 indicates a quite expensive valuation of HSY.
  • Compared to the rest of the industry, the Price/Earnings ratio of HSY indicates a slightly more expensive valuation: HSY is more expensive than 62.69% of the companies listed in the same industry.
  • HSY is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 27.67, which is the current average of the S&P500 Index.
  • HSY is valuated quite expensively with a Price/Forward Earnings ratio of 30.84.
  • HSY's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. HSY is more expensive than 70.15% of the companies in the same industry.
  • HSY's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 27.20.
Industry RankSector Rank
PE 30.21
Fwd PE 30.84
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HSY indicates a slightly more expensive valuation: HSY is more expensive than 73.13% of the companies listed in the same industry.
  • HSY's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 25.27
EV/EBITDA 19.64
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

  • HSY has an outstanding profitability rating, which may justify a higher PE ratio.
  • A cheap valuation may be justified as HSY's earnings are expected to decrease with -3.89% in the coming years.
PEG (NY)N/A
PEG (5Y)2.99
EPS Next 2Y-12.7%
EPS Next 3Y-3.89%

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

5

5. Dividend

5.1 Amount

  • HSY has a Yearly Dividend Yield of 2.88%.
  • Compared to an average industry Dividend Yield of 2.76, HSY pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, HSY pays a better dividend.
Industry RankSector Rank
Dividend Yield 2.88%

5.2 History

  • On average, the dividend of HSY grows each year by 12.83%, which is quite nice.
Dividend Growth(5Y)12.83%
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 1 2 3 4 5

5.3 Sustainability

  • 79.75% of the earnings are spent on dividend by HSY. This is not a sustainable payout ratio.
  • The dividend of HSY is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP79.75%
EPS Next 2Y-12.7%
EPS Next 3Y-3.89%
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 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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HERSHEY CO/THE

FRA:HSY (2/5/2026, 7:00:00 PM)

186.68

+13.46 (+7.77%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)10-30
Earnings (Next)02-05
Inst Owners89.13%
Inst Owner ChangeN/A
Ins Owners0.19%
Ins Owner ChangeN/A
Market Cap37.86B
Revenue(TTM)11.49B
Net Income(TTM)1.36B
Analysts66.21
Price Target168.32 (-9.84%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.88%
Yearly Dividend4.47
Dividend Growth(5Y)12.83%
DP79.75%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)20.61%
Min EPS beat(2)20.39%
Max EPS beat(2)20.83%
EPS beat(4)4
Avg EPS beat(4)14.92%
Min EPS beat(4)6.26%
Max EPS beat(4)20.83%
EPS beat(8)6
Avg EPS beat(8)6.32%
EPS beat(12)10
Avg EPS beat(12)6.89%
EPS beat(16)14
Avg EPS beat(16)7.08%
Revenue beat(2)2
Avg Revenue beat(2)1.9%
Min Revenue beat(2)1.19%
Max Revenue beat(2)2.62%
Revenue beat(4)3
Avg Revenue beat(4)0.97%
Min Revenue beat(4)-0.59%
Max Revenue beat(4)2.62%
Revenue beat(8)4
Avg Revenue beat(8)-1.28%
Revenue beat(12)7
Avg Revenue beat(12)-0.53%
Revenue beat(16)11
Avg Revenue beat(16)1.12%
PT rev (1m)0.8%
PT rev (3m)14.62%
EPS NQ rev (1m)0.73%
EPS NQ rev (3m)1.23%
EPS NY rev (1m)0.12%
EPS NY rev (3m)-2.2%
Revenue NQ rev (1m)0.3%
Revenue NQ rev (3m)0.13%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)1.3%
Valuation
Industry RankSector Rank
PE 30.21
Fwd PE 30.84
P/S 3.89
P/FCF 25.27
P/OCF 19.48
P/B 9.79
P/tB N/A
EV/EBITDA 19.64
EPS(TTM)6.18
EY3.31%
EPS(NY)6.05
Fwd EY3.24%
FCF(TTM)7.39
FCFY3.96%
OCF(TTM)9.58
OCFY5.13%
SpS48.02
BVpS19.08
TBVpS-1.61
PEG (NY)N/A
PEG (5Y)2.99
Graham Number51.51
Profitability
Industry RankSector Rank
ROA 10.01%
ROE 29.79%
ROCE 19.16%
ROIC 16.48%
ROICexc 18.51%
ROICexgc 39.09%
OM 17.27%
PM (TTM) 11.84%
GM 37.74%
FCFM 15.39%
ROA(3y)15.94%
ROA(5y)15.2%
ROE(3y)47.46%
ROE(5y)50.64%
ROIC(3y)23.99%
ROIC(5y)22.85%
ROICexc(3y)25.42%
ROICexc(5y)24.68%
ROICexgc(3y)57.82%
ROICexgc(5y)56.6%
ROCE(3y)30.24%
ROCE(5y)28.38%
ROICexgc growth 3Y3.23%
ROICexgc growth 5Y-4.21%
ROICexc growth 3Y8.1%
ROICexc growth 5Y0.23%
OM growth 3Y4.4%
OM growth 5Y4.06%
PM growth 3Y6.38%
PM growth 5Y6.61%
GM growth 3Y1.55%
GM growth 5Y0.85%
F-Score4
Asset Turnover0.85
Health
Industry RankSector Rank
Debt/Equity 1.07
Debt/FCF 3.05
Debt/EBITDA 1.97
Cap/Depr 105.99%
Cap/Sales 4.57%
Interest Coverage 9.57
Cash Conversion 92.48%
Profit Quality 130%
Current Ratio 1.36
Quick Ratio 0.83
Altman-Z 4.97
F-Score4
WACC8.26%
ROIC/WACC1.99
Cap/Depr(3y)151.29%
Cap/Depr(5y)152.21%
Cap/Sales(3y)5.77%
Cap/Sales(5y)5.65%
Profit Quality(3y)93.33%
Profit Quality(5y)97.13%
High Growth Momentum
Growth
EPS 1Y (TTM)-16.21%
EPS 3Y9.28%
EPS 5Y10.11%
EPS Q2Q%-44.44%
EPS Next Y-35.36%
EPS Next 2Y-12.7%
EPS Next 3Y-3.89%
EPS Next 5Y2.75%
Revenue 1Y (TTM)4.71%
Revenue growth 3Y7.68%
Revenue growth 5Y7%
Sales Q2Q%6.49%
Revenue Next Year3.72%
Revenue Next 2Y3.63%
Revenue Next 3Y3.36%
Revenue Next 5Y3.41%
EBIT growth 1Y-21.53%
EBIT growth 3Y12.42%
EBIT growth 5Y11.34%
EBIT Next Year-6.38%
EBIT Next 3Y6.56%
EBIT Next 5Y6.23%
FCF growth 1Y8.78%
FCF growth 3Y6.4%
FCF growth 5Y5.9%
OCF growth 1Y-1.75%
OCF growth 3Y6.52%
OCF growth 5Y7.49%

HERSHEY CO/THE / HSY.DE FAQ

What is the fundamental rating for HSY stock?

ChartMill assigns a fundamental rating of 6 / 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 9 / 10.


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

The Price/Earnings (PE) ratio for HERSHEY CO/THE (HSY.DE) is 30.21 and the Price/Book (PB) ratio is 9.79.


Can you provide the expected EPS growth for HSY stock?

The Earnings per Share (EPS) of HERSHEY CO/THE (HSY.DE) is expected to decline by -35.36% in the next year.