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Hershey HSY Gross margin

Gross margin at other companies

PepsiCo logo
PepsiCoPEP
54.1%-0.7pp
Mondelez International logo
Mondelez InternationalMDLZ
28.8%-4.0pp
General Mills logo
General MillsGIS
33%-2.3pp
Church & Dwight logo
Church & DwightCHD
45.1%-0.4pp
The Kraft Heinz Company logo
The Kraft Heinz CompanyKHC
33.9%-0.7pp
PFG
Performance Food GroupPFGC
11.9%+0.2pp

Other financials

Income statement

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Revenue$3.1B+10.7%
Gross profit$1.2B+29.5%
Operating income$640.7M+73.5%
Net income$435.1M+94.1%

Balance sheet

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Cash & equivalents$877.0M-42.1%
Total debt$5.3B-8.8%
Total assets$13.8B-0.9%

Cash flow

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Operating cash flow$468.8M+18.2%
CapEx$114.6M-21.3%
Free cash flow$354.2M+41.0%

Valuation

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Market cap$35.56B+21.6%
Enterprise value$39.94B+19.6%
P/E32.5×+14.8×
P/S+0.2×

Profitability

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Operating margin14.3%-6.3pp
Net margin9.1%-6.2pp

Returns & leverage

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Return on equity18.9%-31.5pp
Debt / equity1.1×+0.1×
Current ratio1.2×-0.4×

Where this comes from

Calculated from Hershey’s reported figures.

Based on trailing twelve months.

The official record: Hershey’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hershey's gross margin?
Hershey (HSY) reported gross margin of 35% in Q1 2026.
How has Hershey's gross margin changed year-over-year?
Hershey's gross margin decreased by 17.5% year-over-year, from 42.5% to 35%.
What is the long-term trend for Hershey's gross margin?
Over 4 years (2021 to 2025), Hershey's gross margin has grown at a -4.2% compound annual growth rate (CAGR), from 182.8% to 153.9%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.