What is Hershey's EBITDA margin?

Latest reported EBITDA margin for Hershey (HSY) is 16.98% as of the trailing twelve months (TTM) ending March 29, 2026.

How has Hershey EBITDA margin changed year-over-year?

Hershey (HSY) EBITDA margin changed −15.3 percentage points year-over-year on the latest annual filing.

When did Hershey EBITDA margin hit its highest annual value?

Hershey EBITDA margin reached its highest annual value of 27.70% in 2024.

What was Hershey EBITDA margin in 2024?

Hershey (HSY) EBITDA margin in 2024 was 27.70%.

What was Hershey EBITDA margin in 2025?

Hershey (HSY) EBITDA margin in 2025 was 12.39%.

Hershey (HSY) EBITDA Margin — Annual & Quarterly %

TTM

17.0%

YoY change

−15.31pp

Trough year (2025)

12.4%

Peak year (2024)

27.7%

EBITDA Margin history chart for Hershey (HSY) from 1985 to 2025

Latest: 12.4%

EBITDA Margin change chart for Hershey (HSY) from 1985 to 2025

Latest: −15.31pp

EBITDA Margin history table for Hershey (HSY) from 1985 to 2025


2025	12.4%	-15.31pp	Dec 31, 2025	Feb 17, 2026
2024	27.7%	+3.05pp	Dec 31, 2024	Feb 18, 2025
2023	24.7%	+1.28pp	Dec 31, 2023	Feb 20, 2024
2022	23.4%	-1.61pp	Dec 31, 2022	Feb 17, 2023
2021	25.0%	+1.15pp	Dec 31, 2021	Feb 18, 2022
2020	23.8%	+1.00pp	Dec 31, 2020	Feb 17, 2021
2019	22.8%	-0.93pp	Dec 31, 2019	Feb 20, 2020
2018	23.8%	+4.18pp	Dec 31, 2018	Feb 22, 2019
2017	19.6%	-0.48pp	Dec 31, 2017	Feb 27, 2018
2016	20.1%	+3.45pp	Dec 31, 2016	Feb 21, 2017
2015	16.6%	-5.01pp	Dec 31, 2015	Feb 26, 2016
2014	21.6%	+0.02pp	Dec 31, 2014	Feb 20, 2015
2013	21.6%	+1.68pp	Dec 31, 2013	Feb 21, 2014
2012	19.9%	-1.01pp	Dec 31, 2012	Feb 22, 2013
2011	20.9%	+1.48pp	Dec 31, 2011	Mar 19, 2012
2010	19.5%	+1.63pp	Dec 31, 2010	Feb 18, 2011
2009	17.8%	+1.44pp	Dec 31, 2009	Feb 19, 2010
2008	16.4%	+0.78pp	Dec 31, 2008	Feb 20, 2009
2007	15.6%	-8.80pp	Dec 31, 2007	Feb 19, 2008
2006	24.4%	+0.26pp	Dec 31, 2006	Feb 23, 2007
2005	24.2%	+0.08pp	Dec 31, 2005	Feb 28, 2006
2004	24.1%	+0.10pp	Dec 31, 2004	Mar 7, 2005
2003	24.0%	+2.04pp	Dec 31, 2003	Mar 12, 2004
2002	21.9%	+8.70pp	Dec 31, 2002	Dec 31, 2002
2001	13.2%	-5.69pp	Dec 31, 2001	Mar 15, 2002
2000	18.9%	+0.75pp	Dec 31, 2000	Mar 15, 2001
1999	18.2%	+0.12pp	Dec 31, 1999	Mar 13, 2000
1998	18.1%	-0.15pp	Dec 31, 1998	Mar 15, 1999
1997	18.2%	+0.74pp	Dec 31, 1997	Mar 16, 1998
1996	17.5%	-0.00pp	Dec 31, 1996	Mar 17, 1997
1995	17.5%	+0.73pp	Dec 31, 1995	Mar 13, 1996
1994	16.7%	+0.39pp	Dec 31, 1994	Mar 10, 1995
1993	16.3%	+0.03pp	Dec 31, 1993	Mar 11, 1994
1992	16.3%	-0.09pp	Dec 31, 1992	Dec 31, 1992
1991	16.4%	+0.78pp	Dec 31, 1991	Dec 31, 1991
1990	15.6%	+0.09pp	Dec 31, 1990	Dec 31, 1990
1989	15.5%	+0.87pp	Dec 31, 1989	Dec 31, 1989
1988	14.7%	-0.32pp	Dec 31, 1988	Dec 31, 1988
1987	15.0%	-0.21pp	Dec 31, 1987	Dec 31, 1987
1986	15.2%	+0.43pp	Dec 31, 1986	Dec 31, 1986
1985	14.8%	—	Dec 31, 1985	Dec 31, 1985

202512.4%-15.31pp
202427.7%+3.05pp
202324.7%+1.28pp
202223.4%-1.61pp
202125.0%+1.15pp
202023.8%+1.00pp
201922.8%-0.93pp
201823.8%+4.18pp
201719.6%-0.48pp
201620.1%+3.45pp
201516.6%-5.01pp
201421.6%+0.02pp
201321.6%+1.68pp
201219.9%-1.01pp
201120.9%+1.48pp
201019.5%+1.63pp
200917.8%+1.44pp
200816.4%+0.78pp
200715.6%-8.80pp
200624.4%+0.26pp
200524.2%+0.08pp
200424.1%+0.10pp
200324.0%+2.04pp
200221.9%+8.70pp
200113.2%-5.69pp
200018.9%+0.75pp
199918.2%+0.12pp
199818.1%-0.15pp
199718.2%+0.74pp
199617.5%-0.00pp
199517.5%+0.73pp
199416.7%+0.39pp
199316.3%+0.03pp
199216.3%-0.09pp
199116.4%+0.78pp
199015.6%+0.09pp
198915.5%+0.87pp
198814.7%-0.32pp
198715.0%-0.21pp
198615.2%+0.43pp
198514.8%—

EBITDA Margin values are taken from Hershey's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About EBITDA Margin at Hershey (HSY)

According to Hershey's latest reported financial statements, the company's latest reported EBITDA margin is 17.0%. EBITDA margin is EBITDA divided by revenue — earnings before interest, taxes, depreciation, and amortization as a percentage of sales. By stripping out non-cash charges and capital-structure effects, it approximates operating cash profitability and is widely used to compare companies with different asset bases and leverage.

Headline figure above is from the reporting period ending March 29, 2026 (reported April 30, 2026). Chart and table below cover the full reported history back to 1985.

2025's annual EBITDA margin for Hershey (HSY) came in at 12.39% – contracted 15.3 percentage points year-over-year.

27.70% stands as the all-time-high annual EBITDA margin, posted in 2024, against a low of 12.39% during 2025.

Hershey EBITDA Margin by Year

Hershey EBITDA Margin 2025: 12.4%

In 2025, Hershey reported EBITDA margin of 12.39%, contracted 15.3 percentage points from 2024. This figure represents the lowest annual value in the available history.

Hershey EBITDA Margin 2024: 27.7%

Hershey EBITDA margin in 2024 was 27.70%, expanded 3.0 percentage points from 2023. This figure represents the highest annual value in the available history.

Hershey EBITDA Margin 2023: 24.7%

2023's EBITDA margin for Hershey came in at 24.66%, expanded 1.3 percentage points from 2022.

Hershey EBITDA Margin 2022: 23.4%

Hershey posted EBITDA margin of 23.38% in 2022, contracted 1.6 percentage points from 2021.

Hershey EBITDA Margin 2021: 25.0%

Hershey EBITDA margin in 2021 was 24.99%.

See more financial history for Hershey (HSY).

Sector peers by EBITDA Margin

Consumer Defensive peers of Hershey (HSY), ranked by their latest EBITDA margin


Altria Group (MO)	53.6%
Philip Morris International (PM)	42.8%
Coca-Cola (KO)	37.8%
Monster Beverage (MNST)	31.0%
Procter & Gamble (PG)	26.8%
PepsiCo (PEP)	15.8%
Walmart (WMT)	6.1%
Costco (COST)	4.9%

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