Hershey Company (The) (HSY) FY2025 10-K Annual Report

Filed: Feb 17, 2026
Consumer Staples
Sugar & Confectionery ProductsSEC EDGAR

Hershey Company (The) (HSY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 17, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

Hershey Company (The) FY2025 10-K Analysis

Business Overview

  • Core business model: Global confectionery and snack manufacturer with segments in North America Confectionery, North America Salty Snacks, and International markets
  • New acquisitions: LesserEvil organic popcorn (Nov 2025) and Sour Strips sour candy (Nov 2024), expanding snack portfolio and manufacturing capacity
  • Strategic shift: Multi-year Advancing Agility & Automation Initiative launched in Feb 2024 to enhance supply chain, reduce costs, and automate processes
  • Quantitative metric: Total workforce about 19,595 employees worldwide as of Dec 31, 2025, with 28% covered by collective bargaining agreements
  • Noteworthy fact: 27% of consolidated net sales in 2025 made to major distributor McLane Company, emphasizing distribution concentration

Management Discussion & Analysis

  • Data insufficient to extract revenue, profitability, segment, cash flow, or forward-looking details from provided text

Risk Factors

  • Regulatory risk: Commodity price volatility oversight by CFTC affecting cocoa costs, primary incremental cost to business
  • Geopolitical/macro risk: Uncertain macroeconomic environment in emerging international markets restrains profitable growth investments
  • Operational risk: Integration of multiple acquisitions (LesserEvil, Sour Strips, Weaver assets) creates manufacturing capacity and synergies challenge
  • Competitive risk: Expansion into organic and healthy snacks segments intensifies competition against specialty brands like LesserEvil acquired in 2025
  • Financial risk: Inflationary pressures and higher manufacturing costs persist despite strategic price increases, pressuring gross margins

Hershey Company (The) FY2025 Key Financial Metrics
XBRL

Revenue

$11.7B

+4.4% YoY

Net Income

$883M

-60.2% YoY

Gross Margin

33.5%

-1377bp YoY

Operating Margin

12.3%

-1354bp YoY

Net Margin

7.6%

-1227bp YoY

ROE

19.0%

-2806bp YoY

Total Assets

$13.7B

+6.1% YoY

Operating Cash Flow

$2.3B

-10.0% YoY

Source: XBRL data from Hershey Company (The) FY2025 10-K filing on SEC EDGAR. All figures in USD.

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