Hershey annual operating margin
2012
2013
2014
2015
2016
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2018
2019
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2021
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2024
2025
Hershey Operating Margin Growth & History (HSY)
Hershey's operating margin was 12.33% for fiscal 2025.
View full Hershey company overviewHershey annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 12.33% | −13.54 pp |
| 2024 | 2024-12-31 | 25.87% | +2.94 pp |
| 2023 | 2023-12-31 | 22.94% | +1.24 pp |
| 2022 | 2022-12-31 | 21.70% | −1.08 pp |
| 2021 | 2021-12-31 | 22.78% | +0.91 pp |
| 2020 | 2020-12-31 | 21.87% | +1.89 pp |
| 2019 | 2019-12-31 | 19.98% | −0.86 pp |
| 2018 | 2018-12-31 | 20.84% | +3.36 pp |
| 2017 | 2017-12-31 | 17.48% | +0.61 pp |
| 2016 | 2016-12-31 | 16.87% | +2.82 pp |
| 2015 | 2015-12-31 | 14.05% | −4.71 pp |
| 2014 | 2014-12-31 | 18.76% | −55.58 pp |
| 2013 | 2013-12-31 | 74.34% | −39.50 pp |
| 2012 | 2012-12-31 | 113.83% | — |
Hershey quarterly operating margin
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-28 | 23.06% | +15.68 pp |
| Q1 2026 | 2026-03-29 | 20.64% | +7.48 pp |
| Q4 2025 | 2025-12-31 | 14.39% | −18.13 pp |
| Q3 2025 | 2025-09-28 | 13.66% | −6.86 pp |
| Q2 2025 | 2025-06-29 | 7.37% | −6.50 pp |
| Q1 2025 | 2025-03-30 | 13.16% | −19.37 pp |
| Q4 2024 | 2024-12-31 | 32.52% | +15.05 pp |
| Q3 2024 | 2024-09-29 | 20.52% | −3.76 pp |
| Q2 2024 | 2024-06-30 | 13.87% | −8.64 pp |
| Q1 2024 | 2024-03-31 | 32.53% | +5.75 pp |
| Q4 2023 | 2023-12-31 | 17.47% | −2.38 pp |
| Q3 2023 | 2023-10-01 | 24.29% | +3.89 pp |
| Q2 2023 | 2023-07-02 | 22.51% | +3.27 pp |
| Q1 2023 | 2023-04-02 | 26.77% | −0.27 pp |
| Q4 2022 | 2022-12-31 | 19.86% | +0.12 pp |
| Q3 2022 | 2022-10-02 | 20.40% | −3.96 pp |
| Q2 2022 | 2022-07-03 | 19.24% | −3.71 pp |
| Q1 2022 | 2022-04-03 | 27.04% | +2.95 pp |
| Q4 2021 | 2021-12-31 | 19.74% | +1.20 pp |
| Q3 2021 | 2021-10-03 | 24.36% | −3.18 pp |
| Q2 2021 | 2021-07-04 | 22.96% | +0.50 pp |
| Q1 2021 | 2021-04-04 | 24.09% | +5.30 pp |
| Q4 2020 | 2020-12-31 | 18.54% | +4.70 pp |
| Q3 2020 | 2020-09-27 | 27.54% | +5.95 pp |
| Q2 2020 | 2020-06-28 | 22.45% | −0.75 pp |
| Q1 2020 | 2020-03-29 | 18.79% | −2.97 pp |
| Q4 2019 | 2019-12-31 | 13.84% | −7.35 pp |
| Q3 2019 | 2019-09-29 | 21.59% | +2.05 pp |
| Q2 2019 | 2019-06-30 | 23.20% | +5.18 pp |
| Q1 2019 | 2019-03-31 | 21.76% | −2.60 pp |
| Q4 2018 | 2018-12-31 | 21.19% | +3.96 pp |
| Q3 2018 | 2018-09-30 | 19.54% | −3.16 pp |
| Q2 2018 | 2018-07-01 | 18.02% | −1.25 pp |
| Q1 2018 | 2018-04-01 | 24.37% | +13.87 pp |
| Q4 2017 | 2017-12-31 | 17.23% | +3.08 pp |
| Q3 2017 | 2017-10-01 | 22.70% | +4.03 pp |
| Q2 2017 | 2017-07-02 | 19.27% | +3.23 pp |
| Q1 2017 | 2017-04-02 | 10.49% | −8.07 pp |
| Q4 2016 | 2016-12-31 | 14.15% | −3.82 pp |
| Q3 2016 | 2016-10-02 | 18.67% | +3.22 pp |
| Q2 2016 | 2016-07-03 | 16.04% | +15.57 pp |
| Q1 2016 | 2016-04-03 | 18.56% | −1.26 pp |
| Q4 2015 | 2015-12-31 | 17.97% | +7.47 pp |
| Q3 2015 | 2015-10-04 | 15.45% | −2.83 pp |
| Q2 2015 | 2015-07-05 | 0.48% | −17.09 pp |
| Q1 2015 | 2015-04-05 | 19.82% | −9.31 pp |
| Q4 2014 | 2014-12-31 | 10.50% | — |
| Q3 2014 | 2014-09-28 | 18.28% | — |
| Q2 2014 | 2014-06-29 | 17.57% | — |
| Q1 2014 | 2014-03-30 | 29.13% | — |
Hershey operating margin trends
Over the last five reported fiscal years, Hershey's operating margin decreased from 21.87% to 12.33%, a change of −9.55 percentage points. The latest reported quarter, Q2 2026, shows 23.06%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Hershey filings at SEC.gov ↗