TTM
14.1%
YoY change
−13.75pp
Trough year (2007)
9.3%
Peak year (2024)
25.9%
Latest annual
12.1%
Operating Margin history chart for Hershey (HSY) from 1985 to 2025
Latest: 12.1%
Operating Margin change chart for Hershey (HSY) from 1985 to 2025
Latest: −13.75pp
Operating Margin history table for Hershey (HSY) from 1985 to 2025
| 2025 | 12.1% | -13.75pp | ||
| 2024 | 25.9% | +2.94pp | ||
| 2023 | 22.9% | +1.24pp | ||
| 2022 | 21.7% | -1.08pp | ||
| 2021 | 22.8% | +0.91pp | ||
| 2020 | 21.9% | +1.89pp | ||
| 2019 | 20.0% | -0.86pp | ||
| 2018 | 20.8% | +3.36pp | ||
| 2017 | 17.5% | +1.27pp | ||
| 2016 | 16.2% | +2.16pp | ||
| 2015 | 14.0% | -5.29pp | ||
| 2014 | 19.3% | +0.33pp | ||
| 2013 | 19.0% | +1.61pp | ||
| 2012 | 17.4% | +0.05pp | ||
| 2011 | 17.4% | +1.39pp | ||
| 2010 | 16.0% | +1.59pp | ||
| 2009 | 14.4% | +2.88pp | ||
| 2008 | 11.5% | +2.22pp | ||
| 2007 | 9.3% | -10.80pp | ||
| 2006 | 20.1% | +2.27pp | ||
| 2005 | 17.8% | -2.57pp | ||
| 2004 | 20.4% | +1.28pp | ||
| 2003 | 19.1% | +2.14pp | ||
| 2002 | 16.9% | +3.31pp | ||
| 2001 | 13.6% | -1.11pp | ||
| 2000 | 14.8% | +0.69pp | ||
| 1999 | 14.1% | -0.43pp | ||
| 1998 | 14.5% | -0.16pp | ||
| 1997 | 14.6% | +0.53pp | ||
| 1996 | 14.1% | +0.28pp | ||
| 1995 | 13.8% | +0.67pp | ||
| 1994 | 13.2% | +0.05pp | ||
| 1993 | 13.1% | -0.19pp | ||
| 1992 | 13.3% | -0.16pp | ||
| 1991 | 13.5% | +0.56pp | ||
| 1990 | 12.9% | +0.09pp | ||
| 1989 | 12.8% | +0.55pp | ||
| 1988 | 12.3% | +0.19pp | ||
| 1987 | 12.1% | -0.39pp | ||
| 1986 | 12.5% | +0.20pp | ||
| 1985 | 12.3% | — |
- 202512.1%-13.75pp
- 202425.9%+2.94pp
- 202322.9%+1.24pp
- 202221.7%-1.08pp
- 202122.8%+0.91pp
- 202021.9%+1.89pp
- 201920.0%-0.86pp
- 201820.8%+3.36pp
- 201717.5%+1.27pp
- 201616.2%+2.16pp
- 201514.0%-5.29pp
- 201419.3%+0.33pp
- 201319.0%+1.61pp
- 201217.4%+0.05pp
- 201117.4%+1.39pp
- 201016.0%+1.59pp
- 200914.4%+2.88pp
- 200811.5%+2.22pp
- 20079.3%-10.80pp
- 200620.1%+2.27pp
- 200517.8%-2.57pp
- 200420.4%+1.28pp
- 200319.1%+2.14pp
- 200216.9%+3.31pp
- 200113.6%-1.11pp
- 200014.8%+0.69pp
- 199914.1%-0.43pp
- 199814.5%-0.16pp
- 199714.6%+0.53pp
- 199614.1%+0.28pp
- 199513.8%+0.67pp
- 199413.2%+0.05pp
- 199313.1%-0.19pp
- 199213.3%-0.16pp
- 199113.5%+0.56pp
- 199012.9%+0.09pp
- 198912.8%+0.55pp
- 198812.3%+0.19pp
- 198712.1%-0.39pp
- 198612.5%+0.20pp
- 198512.3%—
Operating 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 Operating Margin at Hershey (HSY)
According to Hershey's latest reported financial statements, the company's latest reported operating margin is 14.1%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
Hershey (HSY) most recent annual operating margin stands at 12.12% (2025) – contracted 13.8 percentage points year-over-year.
The highest annual operating margin of 25.87% was reported in 2024. The lowest in the available history was 9.28% in 2007.
Hershey Operating Margin by Year
Hershey Operating Margin 2025: 12.1%
In 2025, Hershey reported operating margin of 12.12%, contracted 13.8 percentage points from 2024.
Hershey Operating Margin 2024: 25.9%
Hershey operating margin in 2024 was 25.87%, expanded 2.9 percentage points from 2023. This figure represents the highest annual value in the available history.
Hershey Operating Margin 2023: 22.9%
2023's operating margin for Hershey came in at 22.94%, expanded 1.2 percentage points from 2022.
Hershey Operating Margin 2022: 21.7%
Hershey posted operating margin of 21.70% in 2022, contracted 1.1 percentage points from 2021.
Hershey Operating Margin 2021: 22.8%
Hershey operating margin in 2021 was 22.78%.
See more financial history for Hershey (HSY).
Sector peers by Operating Margin
Consumer Defensive peers of Hershey (HSY), ranked by their latest operating margin
| 50.7% | |
| 36.8% | |
| 29.3% | |
| 29.3% | |
| 23.2% | |
| 14.8% | |
| 4.2% | |
| 3.8% |
- 50.7%
- 29.3%
- 14.8%
- 4.2%
- 3.8%
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