Hershey Co. income statement & cash flow
In the fiscal year ended Dec 31, 2025, Hershey Co. reported net income of $883.26M on revenue of $11.69B. Operating cash flow was $2.28B and capital expenditures were $454.62M, leaving $1.82B of free cash flow (operating cash flow minus capital expenditures).
Income statement and cash flow summary
| Fiscal year ended | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.44B | $7.52B | $7.79B | $7.99B | $8.15B | $8.97B | $10.42B | $11.16B | $11.20B | $11.69B |
| Gross profit | $3.17B | $3.46B | $3.58B | $3.62B | $3.70B | $4.05B | $4.50B | $5.00B | $5.30B | $3.92B |
| Operating income | $1.26B | $1.31B | $1.62B | $1.60B | $1.78B | $2.04B | $2.26B | $2.56B | $2.90B | $1.44B |
| Net income | $720.04M | $782.98M | $1.18B | $1.15B | $1.28B | $1.48B | $1.64B | $1.86B | $2.22B | $883.26M |
| Operating cash flow | $1.01B | $1.25B | $1.60B | $1.76B | $1.70B | $2.08B | $2.33B | $2.32B | $2.53B | $2.28B |
| Capital expenditures | $269.48M | $257.68M | $328.60M | $318.19M | $441.63M | $495.88M | $519.48M | $771.11M | $605.94M | $454.62M |
| Reported in | 10-K 2019 | 10-K 2020 | 10-K 2021 | 10-K 2022 | 10-K 2023 | 10-K 2024 | 10-K 2025 | 10-K 2026 | 10-K 2026 | 10-K 2026 |
Margins
Each figure divided by revenue for the same fiscal year.
| Fiscal year ended | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| Dec 2025 | 33.5% | 12.3% | 7.6% |
| Dec 2024 | 47.3% | 25.9% | 19.8% |
| Dec 2023 | 44.8% | 22.9% | 16.7% |
| Dec 2022 | 43.2% | 21.7% | 15.8% |
| Dec 2021 | 45.1% | 22.8% | 16.5% |
Source: SEC EDGAR XBRL company facts for CIK 47111 (raw data). Most recent filing in this dataset: 10-Q filed Oct 29, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.