Hershey (HSY) Operating Margin (2009 - 2026)
Hershey's Operating Margin came in at 24.96% for Q3 2026, up 11.30 percentage points from 13.66% a year earlier and up 1.91 percentage points from the prior quarter.
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Analysis
Hershey (HSY) Operating Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 27, 2026, Hershey reported Operating Margin of 20.77%, up 3.92 percentage points year-over-year; for FY2025, it came in at 12.33%, down 13.54 percentage points from FY2024.
- Operating Margin carries a five-year change of -9.55 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was 25.87% in FY2024 (+2.94 pp), 22.94% in FY2023 (+1.24 pp), 21.70% in FY2022 (-1.08 pp) and 22.78% in FY2021 (+0.91 pp).
- The Q3 2026 figure represents the highest quarterly Operating Margin since Q4 2024.
- Year-over-year, Operating Margin has increased for three consecutive quarters, with an average year-over-year change of -0.17 percentage points over the last eight quarters.
- The fastest year-over-year change in Operating Margin over five years came in Q2 2026 (a gain of 15.68 percentage points), and the weakest in Q1 2025 (a drop of 19.37 percentage points).
- Business Quant data shows HSY's Operating Margin at 23.06% (Q2 2026), 20.64% (Q1 2026) and 14.39% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unilever | 145.23 Bn | 96.68 Bn | - | - |
| 2 | Mondelez International | 84.89 Bn | 77.90 Bn | 3.92 Bn | 17.64% |
| 3 | Hershey | 35.00 Bn | 31.73 Bn | 1.51 Bn | 24.96% |
| 4 | Kraft Heinz | 29.15 Bn | 16.79 Bn | 1.99 Bn | 14.31% |
| 5 | General Mills | 18.91 Bn | 16.55 Bn | 1.49 Bn | 14.43% |
| 6 | J M Smucker | 14.30 Bn | 14.09 Bn | 979.60 Mn | 23.05% |
| 7 | Mccormick | 13.04 Bn | 12.10 Bn | 794.90 Mn | 10.72% |
| 8 | Hormel Foods | 12.29 Bn | 8.96 Bn | 471.52 Mn | 3.75% |
| 9 | Chewy | 9.22 Bn | 6.51 Bn | 1.01 Bn | 2.76% |
| 10 | Lamb Weston Holdings | 7.83 Bn | 7.45 Bn | 266.50 Mn | 4.92% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 27, 2026 | 24.96% |
| Jun 28, 2026 | 23.06% |
| Mar 29, 2026 | 20.64% |
| Dec 31, 2025 | 14.39% |
| Sep 28, 2025 | 13.66% |
| Jun 29, 2025 | 7.37% |
| Mar 30, 2025 | 13.16% |
| Dec 31, 2024 | 32.52% |
| Sep 29, 2024 | 20.52% |
| Jun 30, 2024 | 13.87% |
| Mar 31, 2024 | 32.53% |
| Dec 31, 2023 | 17.47% |
| Oct 1, 2023 | 24.29% |
| Jul 2, 2023 | 22.51% |
| Apr 2, 2023 | 26.77% |
| Dec 31, 2022 | 19.86% |
| Oct 2, 2022 | 20.40% |
| Jul 3, 2022 | 19.24% |
| Apr 3, 2022 | 27.04% |
| Dec 31, 2021 | 19.74% |
API Access
Hershey Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=HSY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "HSY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=HSY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();