The Hershey Company (HSY) Ratios
The Hershey Company Ratios
MX:HSY's free cash flow for Q3 2026 was $955.11M. For the 2026 fiscal year, MX:HSY's free cash flow was increased by $204.43M and operating cash flow was $750.68M. See a summary of the company’s cash flow.
| Ratios | Dec 25 | Dec 24 | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|---|---|
| Liquidity Ratios | |||||
| Current Ratio | 1.19 | 0.96 | 0.97 | 0.80 | 0.90 |
| Quick Ratio | 0.72 | 0.64 | 0.52 | 0.44 | 0.50 |
| Cash Ratio | 0.31 | 0.19 | 0.13 | 0.14 | 0.13 |
| Solvency Ratio | 0.15 | 0.33 | 0.29 | 0.26 | 0.23 |
| Operating Cash Flow Ratio | 0.76 | 0.64 | 0.77 | 0.71 | 0.84 |
| Short-Term Operating Cash Flow Coverage | 3.15 | 1.33 | 2.28 | 1.61 | 2.21 |
| Net Current Asset Value | $ -5.52B | $ -4.47B | $ -4.89B | $ -5.03B | $ -5.41B |
| Leverage Ratios | |||||
| Debt-to-Assets Ratio | 0.39 | 0.42 | 0.43 | 0.47 | 0.52 |
| Debt-to-Equity Ratio | 1.17 | 1.16 | 1.25 | 1.55 | 1.95 |
| Debt-to-Capital Ratio | 0.54 | 0.54 | 0.56 | 0.61 | 0.66 |
| Long-Term Debt-to-Capital Ratio | 0.50 | 0.40 | 0.48 | 0.50 | 0.59 |
| Financial Leverage Ratio | 2.96 | 2.75 | 2.90 | 3.32 | 3.78 |
| Debt Service Coverage Ratio | 1.75 | 1.37 | 2.07 | 1.37 | 1.80 |
| Interest Coverage Ratio | 6.83 | 16.63 | 15.86 | 16.14 | 15.74 |
| Debt to Market Cap | 0.15 | 0.15 | 0.12 | 0.10 | 0.12 |
| Interest Debt Per Share | 27.60 | 27.70 | 25.82 | 25.58 | 26.63 |
| Net Debt to EBITDA | 2.29 | 1.52 | 1.72 | 1.91 | 2.25 |
| Profitability Margins | |||||
| Gross Profit Margin | 33.27% | 47.32% | 44.76% | 43.18% | 45.13% |
| EBIT Margin | 12.39% | 23.64% | 20.90% | 19.74% | 21.48% |
| EBITDA Margin | 16.70% | 27.70% | 24.66% | 23.38% | 24.99% |
| Operating Profit Margin | 12.12% | 25.87% | 22.94% | 21.70% | 22.78% |
| Pretax Profit Margin | 10.38% | 22.08% | 19.45% | 18.40% | 20.03% |
| Net Profit Margin | 7.55% | 19.83% | 16.68% | 15.79% | 16.47% |
| Continuous Operations Profit Margin | 7.55% | 19.83% | 16.68% | 15.79% | 16.53% |
| Net Income Per EBT | 72.74% | 89.79% | 85.72% | 85.80% | 82.21% |
| EBT Per EBIT | 85.69% | 85.36% | 84.81% | 84.80% | 87.94% |
| Return on Assets (ROA) | 6.43% | 17.16% | 15.64% | 15.02% | 14.19% |
| Return on Equity (ROE) | 19.05% | 47.11% | 45.42% | 49.85% | 53.59% |
| Return on Capital Employed (ROCE) | 13.21% | 32.14% | 28.79% | 29.39% | 25.81% |
| Return on Invested Capital (ROIC) | 9.00% | 23.72% | 22.05% | 21.15% | 18.95% |
| Return on Tangible Assets | 11.15% | 27.76% | 26.72% | 25.80% | 25.73% |
| Earnings Yield | 2.39% | 6.46% | 4.88% | 3.46% | 3.69% |
| Efficiency Ratios | |||||
| Receivables Turnover | 16.03 | 14.00 | 13.56 | 14.65 | 13.36 |
| Payables Turnover | 6.21 | 7.30 | 9.78 | 6.10 | 7.11 |
| Inventory Turnover | 5.46 | 4.71 | 4.60 | 5.05 | 4.98 |
| Fixed Asset Turnover | 3.03 | 2.95 | 3.09 | 3.76 | 3.47 |
| Asset Turnover | 0.85 | 0.87 | 0.94 | 0.95 | 0.86 |
| Working Capital Turnover Ratio | 57.46 | -84.14 | -30.46 | -23.58 | 21.38 |
| Cash Conversion Cycle | 30.89 | 53.68 | 68.97 | 37.40 | 49.28 |
| Days of Sales Outstanding | 22.77 | 26.08 | 26.93 | 24.91 | 27.32 |
| Days of Inventory Outstanding | 66.86 | 77.57 | 79.37 | 72.32 | 73.29 |
| Days of Payables Outstanding | 58.74 | 49.97 | 37.32 | 59.84 | 51.33 |
| Operating Cycle | 89.63 | 103.64 | 106.29 | 97.24 | 100.61 |
| Cash Flow Ratios | |||||
| Operating Cash Flow Per Share | 11.20 | 12.47 | 11.35 | 11.33 | 10.08 |
| Free Cash Flow Per Share | 8.61 | 9.49 | 7.58 | 8.80 | 7.68 |
| Dividend Paid and CapEx Coverage Ratio | 1.41 | 1.50 | 1.40 | 1.80 | 1.76 |
| Capital Expenditure Coverage Ratio | 4.31 | 4.18 | 3.01 | 4.48 | 4.20 |
| Operating Cash Flow Coverage Ratio | 0.42 | 0.46 | 0.45 | 0.45 | 0.39 |
| Operating Cash Flow to Sales Ratio | 0.19 | 0.23 | 0.21 | 0.22 | 0.23 |
| Free Cash Flow Yield | 4.73% | 5.60% | 4.07% | 3.80% | 3.97% |
| Valuation Ratios | |||||
| Price-to-Earnings (P/E) Ratio | 41.93 | 15.44 | 20.50 | 28.94 | 27.07 |
| Price-to-Sales (P/S) Ratio | 3.16 | 3.07 | 3.42 | 4.57 | 4.46 |
| Price-to-Book (P/B) Ratio | 7.98 | 7.29 | 9.31 | 14.42 | 14.51 |
| Price-to-Free Cash Flow (P/FCF) Ratio | 21.15 | 17.85 | 24.59 | 26.32 | 25.20 |
| Price-to-Operating Cash Flow Ratio | 16.24 | 13.58 | 16.43 | 20.45 | 19.20 |
| Price-to-Earnings Growth (PEG) Ratio | -0.69 | 0.75 | 1.50 | 2.43 | 1.63 |
| Enterprise Value Multiple | 21.24 | 12.59 | 15.58 | 21.45 | 20.09 |
| Enterprise Value | 41.47B | 39.09B | 42.90B | 52.25B | 45.04B |
| EV to EBITDA | 21.24 | 12.59 | 15.58 | 21.45 | 20.09 |
| EV to Sales | 3.55 | 3.49 | 3.84 | 5.01 | 5.02 |
| EV to Free Cash Flow | 23.71 | 20.30 | 27.64 | 28.89 | 28.38 |
| EV to Operating Cash Flow | 18.21 | 15.44 | 18.46 | 22.45 | 21.63 |
| Tangible Book Value Per Share | -5.84 | -1.14 | -4.09 | -6.20 | -9.26 |
| Shareholders’ Equity Per Share | 22.81 | 23.23 | 20.02 | 16.05 | 13.34 |
| Tax and Other Ratios | |||||
| Effective Tax Rate | 0.27 | 0.10 | 0.14 | 0.14 | 0.17 |
| Revenue Per Share | 57.52 | 55.19 | 54.53 | 50.69 | 43.40 |
| Net Income Per Share | 4.35 | 10.94 | 9.09 | 8.00 | 7.15 |
| Tax Burden | 0.73 | 0.90 | 0.86 | 0.86 | 0.82 |
| Interest Burden | 0.84 | 0.93 | 0.93 | 0.93 | 0.93 |
| Research & Development to Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A to Revenue | 0.21 | 0.20 | 0.22 | 0.22 | 0.22 |
| Stock-Based Compensation to Revenue | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 |
| Income Quality | 2.58 | 1.14 | 1.25 | 1.42 | 1.40 |
Currency in USD
