The Hershey Company (HSY)

Hershey Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 29, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,094	883.26	2,221	1,862	1,645	1,483
Depreciation & Amortization	517.14	503.7	455.26	419.82	378.96	315
Stock-Based Compensation	69.03	65.46	44.41	81.02	65.99	66.71
Other Adjustments	657.84	784.85	-120.65	330	345.99	223.15
Change in Receivables	-75.55	98.97	4.46	-102.08	-38.17	-14.64
Changes in Inventories	69.68	-133.32	68.83	-157.15	-186.96	21.46
Changes in Accounts Payable	-150.93	163.5	28.9	50.23	216.48	39.73
Changes in Income Taxes Payable	121.07	82.2	-17.09	-32.48	5.01	-29.68
Changes in Other Operating Activities	40.64	-171.24	-153.76	-127.96	-104.28	-21.66
Operating Cash Flow	2,349	2,277	2,532	2,323	2,328	2,083
Operating Cash Flow Growth	-0.41%	-10.04%	8.97%	-0.20%	11.76%	22.55%
Capital Expenditures	-423.69	-454.62	-605.94	-771.11	-519.48	-495.88
Purchases of Intangible Assets	-36.8	-73.6	-	-	-	-
Purchases of Investments	-	11.88	-285.5	-256.82	-275.53	-128.42
Payments for Business Acquisitions	-	-756.14	-75.5	-165.82	-	-1,601
Other Investing Activities	6.95	-6.24	6.63	-4.93	7.64	2.54
Investing Cash Flow	-1,249	-1,279	-960.31	-1,199	-787.38	-2,223
Net Short-Term Debt Issued (Repaid)	18.99	-1,099	607.01	26.05	-245.63	869.03
Long-Term Debt Issued	-1,986	-	1,985	744.09	-	-
Long-Term Debt Repaid	-606.2	-606.39	-306.36	-755.41	-4.74	-439.44
Net Long-Term Debt Issued (Repaid)	-2,592	-606.39	1,678	-11.32	-4.74	-439.44
Issuance of Common Stock	29.52	21.3	14.66	26.02	34.16	49.82
Repurchase of Common Stock	-86.44	-18.78	-527.01	-299.92	-424.48	-474.56
Net Common Stock Issued (Repurchased)	-56.93	2.52	-512.35	-273.91	-390.32	-424.74
Common Dividends Paid	-1,102	-1,085	-1,085	-889.07	-775.03	-685.99
Financing Cash Flow	-1,743	-803.36	-1,297	-1,148	-1,416	-681.14
Effect of Exchange Rate Changes on Cash and Cash Equivalents	4.37	-0.18	54.06	-38.25	9.89	-5.08
Net Cash Flow	-638.28	195.11	328.84	-61.99	134.62	-814.72
Free Cash Flow	1,926	1,823	1,926	1,552	1,808	1,587
Free Cash Flow Growth	5.65%	-5.34%	24.07%	-14.17%	13.95%	26.15%
FCF Margin	16.06%	15.59%	17.19%	13.90%	17.36%	17.69%
Free Cash Flow Per Share	9.46	8.96	9.46	7.55	8.75	7.64
Levered Free Cash Flow	-1,305	-831.66	4,283	1,258	1,184	1,736
Unlevered Free Cash Flow	1,438	1,039	2,378	1,577	1,729	1,515

Updated Apr 30, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q