Hershey (HSY) Operating Margin (2009 - 2026)
Hershey's Operating Margin came in at 23.06% for Q2 2026, up 15.68 percentage points from 7.37% a year earlier and up 2.42 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 Jun 28, 2026, Hershey reported Operating Margin of 17.78%, down 0.94 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 Q2 2026 figure represents the highest quarterly Operating Margin since Q4 2024.
- Year-over-year, Operating Margin increased in three of the last eight quarters, with an average year-over-year change of -2.05 percentage points.
- 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 20.64% (Q1 2026), 14.39% (Q4 2025) and 13.66% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Unilever | 136.33 Bn | 111.70 Bn | - | - |
| 2 | Mondelez International | 76.81 Bn | 70.13 Bn | 3.99 Bn | 20.80% |
| 3 | Hershey | 33.25 Bn | 29.49 Bn | 1.26 Bn | 23.06% |
| 4 | Kraft Heinz | 27.93 Bn | 14.46 Bn | 2.03 Bn | -102.70% |
| 5 | General Mills | 17.97 Bn | 15.62 Bn | 1.49 Bn | 14.43% |
| 6 | Mccormick | 13.05 Bn | 12.93 Bn | 778.20 Mn | 14.27% |
| 7 | J M Smucker | 12.89 Bn | 12.67 Bn | 979.60 Mn | 23.05% |
| 8 | Hormel Foods | 10.99 Bn | 7.67 Bn | 471.52 Mn | 3.75% |
| 9 | Chewy | 7.48 Bn | 4.77 Bn | 1.01 Bn | 2.76% |
| 10 | Conagra Brands | 6.78 Bn | 5.76 Bn | 704.10 Mn | -57.54% |
Historic Data
Download Data
Historic 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% |
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();