Foundation Sweep — share basis uncertain
F4 · No share count served at all (TSN-class: diluted-only or untagged) · no usable share count on any served annual statement — unverifiable, not disproven
This page shows our last published analysis, from Aug 30, 2026.
It is not being updated, and new reports can't be run for this company.
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What this page is: Delvantic's full research page for The Hershey Company Common Stock (HSY) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
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More for machine readers: site briefing at
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The Hershey Company Common Stock
HSY NYSE
Consumer Defensive · Confectioners
Hershey, PA 17033, United States
thehersheycompany.com
Price
$179.05
Market Cap
$36.0B
Employees
17,550
Beta
0.10
Avg Volume
1,393,530
Last Dividend
$5.73
CEO
Mr. Kirk C. Tanner
The Hershey Company Common Stock represents ownership in The Hershey Company, a leading consumer packaged goods business focused on confectionery and snack foods. The company develops, manufactures, and markets a broad portfolio of chocolate and other confectionery products, along with salty snacks and related treats for everyday consumption. Its products are sold through grocery, convenience, mass retail, club, drug, and specialty channels, making it an important participant in the global packaged food market. The Hershey Company operates through North America Confectionery, North America Salty Snacks, and International segments, reflecting its mix of branded sweets, snack offerings, and overseas distribution. Headquartered in Hershey, Pennsylvania, The Hershey Company remains recognized for its portfolio of widely known household brands and its role in branded snacking and confectionery distribution.
Runs with full report
Price Overview
Price at report time
$179.05
as of Aug 30, 6:38pm (22d ago)
Change · Aug 30
-2.27 (-1.25%)
Day Range
$179.00 – $184.10
52-Week Range
$161.43 – $239.48
50-Day MA
$178.97
200-Day MA
$192.49
Volume
821,400.00
Right now · live
Log in to get the live feed
Members see the real-time price and the move since this report (over 22d).
Share Structure
Outstanding
200,915,508.00
Float
144,614,232.00
Free Float
72.0%
Normal free float
— 72.0% of shares trade freely, ~28% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E · trailing (TTM) (Price per dollar of earnings over the past year — not a run-rate or forward P/E)
HEXStock Price / EPS (Diluted)
40.73
Stock Price: $179.05
EPS (Diluted): N/A
EPS (Diluted): N/A
EPS not available in income statement
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
7.83
Stock Price: $179.05
Total Equity: $4.64B
Shares: 202,839,656
Total Equity: $4.64B
Shares: 202,839,656
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
20.80
Market Cap: $35.98B
Total Debt: $5.40B
Cash: $925.86M
EBITDA: $1.95B
Total Debt: $5.40B
Cash: $925.86M
EBITDA: $1.95B
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$40.5B
Market Cap: $35.98B
Total Debt: $5.40B
Cash: $925.86M
Total Debt: $5.40B
Cash: $925.86M
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
33.5%
Gross Profit: $3.92B
Revenue: $11.69B
Revenue: $11.69B
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
12.3%
Operating Income: $1.44B
Revenue: $11.69B
Revenue: $11.69B
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
7.6%
Net Income: $883.26M
Revenue: $11.69B
Revenue: $11.69B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
19.0%
Net Income: $883.26M
Total Equity: $4.64B
Total Equity: $4.64B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
11.5%
Operating Income: $1.44B
Tax Rate: 27.3%
Equity: $4.64B
Total Debt: $5.40B
Cash: $925.86M
Tax Rate: 27.3%
Equity: $4.64B
Total Debt: $5.40B
Cash: $925.86M
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
1.19
Current Assets: $3.59B
Current Liabilities: $3.01B
Current Liabilities: $3.01B
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
1.17
Short-Term Debt: $721.87M
Long-Term Debt: $4.68B
Total Debt: $5.40B
Total Equity: $4.64B
Long-Term Debt: $4.68B
Total Debt: $5.40B
Total Equity: $4.64B
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$57.64
Revenue: $11.69B
Shares: 202,839,656
Shares: 202,839,656
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$22.86
Total Equity: $4.64B
Shares: 202,839,656
Shares: 202,839,656
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$8.99
Operating CF: $2.28B
CapEx: -$454.62M
Shares: 202,839,656
CapEx: -$454.62M
Shares: 202,839,656
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
3.2%
Last Dividend: $5.73
Stock Price: $179.05
Stock Price: $179.05
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
122.9%
Dividends Paid: -$1.09B
Net Income: $883.26M
Net Income: $883.26M
Industry Benchmarks
Compares HSY against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Income Statement (Annual)
Last updated: Aug 30, 2026 8:26pm (22d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $9.0B | $10.4B | $11.2B | $11.2B | $11.7B |
| Cost of Revenue | $4.9B | $5.9B | $6.2B | $5.9B | $7.8B |
| Gross Profit | $4.0B | $4.5B | $5.0B | $5.3B | $3.9B |
| Operating Expenses | $2.0B | $2.2B | $2.4B | $2.4B | $2.5B |
| Operating Income | $2.0B | $2.3B | $2.6B | $2.9B | $1.4B |
| Net Income | $1.5B | $1.6B | $1.9B | $2.2B | $883.3M |
| EBITDA | $2.4B | $2.6B | $3.0B | $3.4B | $1.9B |
| EPS | — | — | — | — | — |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Aug 30, 2026 8:22pm (22d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $329.3M | $463.9M | $401.9M | $730.7M | $925.9M |
| Total Current Assets | $2.2B | $2.6B | $2.9B | $3.8B | $3.6B |
| Total Assets | $10.4B | $10.9B | $11.9B | $12.9B | $13.7B |
| Current Liabilities | $2.5B | $3.3B | $3.0B | $3.9B | $3.0B |
| Long-Term Debt | $4.1B | $3.3B | $3.8B | $3.2B | $4.7B |
| Total Liabilities | $7.7B | $7.6B | $7.8B | $8.2B | $9.1B |
| Total Equity | $2.8B | $3.3B | $4.1B | $4.7B | $4.6B |
| Retained Earnings | $2.7B | $3.6B | $4.6B | $5.7B | $5.5B |
Cash Flow (Annual)
Last updated: Aug 30, 2026 8:30pm (22d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $2.1B | $2.3B | $2.3B | $2.5B | $2.3B |
| Capital Expenditure | -$495.9M | -$519.5M | -$771.1M | -$605.9M | -$454.6M |
| Free Cash Flow | $1.6B | $1.8B | $1.6B | $1.9B | $1.8B |
| Acquisitions (net) | -$1.6B | $0 | -$165.8M | -$75.5M | -$756.1M |
| Net Debt Issued / (Repaid) | -$439.4M | -$4.7M | -$11.3M | -$306.4M | $1.4B |
| Dividends Paid | -$686.0M | -$775.0M | -$889.1M | -$1.1B | -$1.1B |
| Stock Buybacks | -$457.9M | -$389.0M | -$264.9M | -$494.2M | $0 |
| Net Change in Cash | -$814.7M | $134.6M | -$62.0M | $328.8M | $195.1M |
Growth Trends (YoY %)
Last updated: Aug 30, 2026 8:26pm (22d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +16.1% | +7.2% | +0.3% | +4.4% |
| Gross Profit Growth | +11.1% | +11.1% | +6.1% | -26.0% |
| Operating Income Growth | +10.6% | +13.3% | +13.2% | -50.3% |
| Net Income Growth | +11.3% | +13.2% | +19.3% | -60.2% |
| EBITDA Growth | +11.9% | +12.9% | +12.5% | -42.0% |
Dividend History (Last 20)
Last updated: Aug 30, 2026 6:38pm (22d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-08-14 | $1.45 | — | — | — |
| 2026-05-15 | $1.45 | — | — | — |
| 2026-02-17 | $1.45 | — | — | — |
| 2025-11-17 | $1.37 | — | — | — |
| 2025-08-15 | $1.37 | — | — | — |
| 2025-05-16 | $1.37 | — | — | — |
| 2025-02-14 | $1.37 | — | — | — |
| 2024-11-18 | $1.37 | — | — | — |
| 2024-08-16 | $1.37 | — | — | — |
| 2024-05-16 | $1.37 | — | — | — |
| 2024-02-16 | $1.37 | — | — | — |
| 2023-11-16 | $1.19 | — | — | — |
| 2023-08-17 | $1.19 | — | — | — |
| 2023-05-18 | $1.04 | — | — | — |
| 2023-02-16 | $1.04 | — | — | — |
| 2022-11-17 | $1.04 | — | — | — |
| 2022-08-18 | $1.04 | — | — | — |
| 2022-05-19 | $0.90 | — | — | — |
| 2022-02-17 | $0.90 | — | — | — |
| 2021-11-18 | $0.90 | — | — | — |
Deep Analysis
0Company Classification
1Industry Landscape
2Company Momentum
3Forward Projection
4aDCF Valuation
4bEarnings Power Value
4cAnchored PE
4dReverse DCF
4eRevenue-Based DCF
4fAnchored P/S
4gScenario Analysis
4hDividend Discount Model
4iBook Value Analysis
4jInsider Activity
4fCash Flow Quality
4gDebt Maturity Risk
4hMacro Environment
4iSector Intelligence
4jRevenue Confidence
4kSensitivity Analysis
4lSector Demand Cycle
5AI Investigation
5bThesis Evaluation
6Valuation Synthesis
computed
not applicable
not yet run 0 computed · 6 not applicable · 18 not yet run
Risk : Reward — upside vs downside from this company's own quarters
Not computed yet
Why there is no ratio: Risk:reward has not been computed for this name yet — its report predates the mechanical valuation chain. It is added, at $0, the next time a report or the nightly touches this ticker.
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for HSY — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for HSY — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
Skipped in the Qwen lane lane by design —
the GPT seat runs only in the full report.
Grok Reading
Skipped in the Qwen lane lane by design —
the Grok seat runs only in the full report.
Advanced Analysis Forensic deep-dive · separate lenses
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My Notes
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v1.1.653 · 3f9310b2 · 2026-09-22 14:00:33