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The Hershey Company (HSY)
NYSE: HSY · Real-Time Price · USD
176.43
+2.48 (1.43%)
At close: Nov 11, 2026, 4:00 PM EST
176.00
-0.43 (-0.24%)
After-hours: Nov 11, 2026, 7:56 PM EST

Hershey Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
1,794883.262,2211,8621,6451,478
Depreciation & Amortization
537.89503.7455.26419.82378.96315
Asset Writedown & Restructuring Costs
6.46.4----
Loss (Gain) From Sale of Investments
24.4824.48243.31210.48188.29113.76
Stock-Based Compensation
72.1565.4644.4181.0265.9966.71
Other Operating Activities
288.99753.97-363.96119.52157.71114.7
Change in Accounts Receivable
-129.7998.974.46-102.08-38.17-14.64
Change in Inventory
128.45-133.3268.83-157.15-186.9621.46
Change in Accounts Payable
-149.86163.528.950.23216.4839.73
Change in Income Taxes
-92.6882.2-17.09-32.485.01-29.68
Change in Other Net Operating Assets
85.72-171.24-153.76-127.96-104.28-21.66
Operating Cash Flow
2,5652,2772,5322,3232,3282,083
Operating Cash Flow Growth
11.91%-10.04%8.97%-0.20%11.76%22.55%

Investing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-443.07-454.62-605.94-771.11-519.48-495.88
Cash Acquisitions
-756.14-756.14-75.5-165.82--1,601
Sale (Purchase) of Intangibles
--73.6----
Investment in Securities
12.0511.88-285.5-256.82-275.53-128.42
Other Investing Activities
-3.45-6.246.63-4.937.642.54
Investing Cash Flow
-1,191-1,279-960.31-1,199-787.38-2,223

Financing Activities

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Short-Term Debt Issued
--607.0126.05-869.03
Long-Term Debt Issued
-1,985-744.09--
Total Debt Issued
220.441,985607.01770.14-869.03
Short-Term Debt Repaid
--1,099---245.63-
Long-Term Debt Repaid
--606.39-306.36-755.41-4.74-439.44
Total Debt Repaid
-502.79-1,705-306.36-755.41-250.37-439.44
Net Debt Issued (Repaid)
-282.35279.42300.6514.73-250.37429.59
Issuance of Common Stock
20.9321.314.6626.0234.1649.82
Repurchase of Common Stock
-459.11-18.78-527.01-299.92-424.48-474.56
Common Dividends Paid
-1,131-1,085-1,085-889.07-775.03-685.99
Other Financing Activities
-16.63-----
Financing Cash Flow
-1,868-803.36-1,297-1,148-1,416-681.14

Net Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
6.65-0.1854.06-38.259.89-5.08
Miscellaneous Cash Flow Adjustments
-----11.43
Net Cash Flow
-486.33195.11328.84-61.99134.62-814.72

Free Cash Flow

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
2,1221,8231,9261,5521,8081,587
Free Cash Flow Growth
15.26%-5.34%24.07%-14.17%13.95%26.15%
Free Cash Flow Margin
17.31%15.59%17.19%13.90%17.36%17.69%
Free Cash Flow Per Share
10.468.969.467.558.757.64
Levered Free Cash Flow
1,6711,4491,1651,0311,2661,179
Unlevered Free Cash Flow
1,8101,5901,2741,1321,3531,260

Additional Metrics

Fiscal Year
TTMFY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Sep '26 Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
219.53195.93179.78160.73131.76127.73
Cash Income Tax Paid
433.93140.62201.8303.94221.32275.17
Change in Working Capital
-158.1640.1-68.66-369.44-107.92-4.79
SEC Filings: 10-K · 10-Q