Hershey (HSY) Operating Margin (2009 - 2026)
Hershey (HSY) posted quarterly Operating Margin of 23.06% for Q2 2026, up 1568.0% year-over-year from 1.38% in Q2 2025, and up 11.71% quarter-over-quarter from 20.64% in Q1 2026.
Hershey (HSY) Operating Margin (2009 - 2026) Analysis & Trends
Hershey (HSY) has reported Operating Margin for 18 consecutive years, with 23.06% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 1568.0% year-over-year to 23.06%; the TTM figure through Jun 2026 stood at 17.78% (down 94.0% YoY), while the FY2025 annual figure was 12.33%, down 1354.0% from the prior year.
- Operating Margin improved to 23.06% in Q2 2026 per HSY's latest filing, from 20.64% in the prior quarter.
- Across five years, Operating Margin topped out at 32.53% in Q1 2024 and bottomed at 7.37% in Q2 2025.
- Historically, Operating Margin has averaged 20.52% across 5 years, with a median of 20.46% in 2022.
- Annual changes were most pronounced in 2025 — Operating Margin slumped 1937 bps — and 2026, when it surged 1568 bps.
- Hershey's Operating Margin stood at 19.86% in 2022, then fell by 12 bps to 17.47% in 2023, then soared by 86 bps to 32.52% in 2024, then plunged by 56 bps to 14.39% in 2025, then surged by 60 bps to 23.06% in 2026.
- Business Quant data shows HSY's Operating Margin at 23.06% in Q2 2026, 20.64% in Q1 2026, and 14.39% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Mondelez International | 80.42 Bn | 78.71 Bn | 3.99 Bn | 20.80% |
| 2 | Hershey | 27.07 Bn | 26.28 Bn | 1.26 Bn | 23.06% |
| 3 | Tootsie Roll Industries | 3.06 Bn | 2.92 Bn | 52.63 Mn | -1.05% |
| 4 | Sow Good | 64.08 Mn | 61.76 Mn | - | - |
| 5 | Rocky Mountain Chocolate Factory | 12.49 Mn | 11.88 Mn | 1.41 Mn | -16.46% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Oct 3, 2021 | 24.36% |