Hershey Co's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Hershey Co (HSY) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Hershey Co vs Its Competitors
- TTM: Trailing 12-month revenue of 12,258M vs 190,919M combined for its competitors (6.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+6.9% annualized vs trailing 12 months), vs accelerating (+2.9%) for its tracked peer group.
- Growth: Hershey Co generated 3.0% revenue growth year over year in Q3 2026, vs 0.2% for its competitors combined.
- Profitability: Its 17.7% net margin compares with 10.6% for the peer group.
- Scale: Hershey Co ranks #2 of 61 companies by market capitalization in the Food Processing industry, holding 11.2% of industry market cap.
- Peer revenue share: Hershey Co accounted for 6.3% of combined revenue among its tracked peer group, up from 6.1% a year earlier.
- Peer differentiation: Revenue per employee of $0.70M compares with $0.41M for the peer group (1.7x).
- Structure: Hershey Co operates in the following segments: North America Confectionery, North America Salty Snacks, International.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
HSY Sales vs. its Competitors, Q3 2026
Hershey Co reported revenue growth of 2.96 % year on year in Q3 2026, above its competitors' combined revenue growth of 0.16 %.
With a net margin of 17.73 %, Hershey Co achieved higher profitability than its competitors (10.58 %).
Hershey Co generated 6.25 % of the combined sales of its peer group, up from 6.09 % a year earlier.
API endpoints for this dataset
Hershey Co vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Hershey Co reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Hershey Co and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Hershey Co | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Hershey Co's competitor groups requires a Commercial License.
For context: the Food Processing industry grew revenue 10.1% year over year, combined, vs 3.0% for Hershey Co. Hershey Co's share of combined industry revenue moved from 2.96% to 2.76%, a loss of 0.19 percentage points.
Hershey Co's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Hershey Co | Yes | Yes | Yes | No |
| Competitors combined (22) | ||||
| High-Confidence Competitors (5) | ||||
| Similar-Size Competitors (5) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 62.50 % (5 of 8) | 62.50 % (5 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
HSY Stock Performance relative to its Competitors
HSY Stock Performance relative to High-Confidence Competitors
HSY Stock Performance relative to Similar-Size Competitors
HSY Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Dupont De Nemours Inc | 282.9% | Outperformed |
| 2 | Utz Brands Inc | 282.9% | Outperformed |
| 3 | The J M Smucker Company | 282.9% | Outperformed |
| 4 | Mondel z International Inc | 282.9% | Outperformed |
| 5 | Tootsie Roll Industries Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Hershey Co's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Hershey Co's Comment on Competition and Industry Peers
Publicly Traded Peers of Hershey Co
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Hershey Co |
- | 12,257.57 |
 Pepsico Inc |
193,211.78 | 98,241.00 |
 Mondel z International Inc |
84,505.60 | 39,898.00 |
 Kellanova |
29,204.00 | 12,670.00 |
 Tyson Foods Inc |
21,186.40 | 55,694.00 |
 Dupont De Nemours Inc |
19,794.85 | 3,526.00 |
| SUBTOTAL | 423,776.46 | 314,808.79 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Hershey Co versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Hershey Co's Competitors Named by the Company
Competitive relationships identified from Hershey Co reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Sow Good Inc | Company report | 85% |
| Six Flags Entertainment Corporation | Company report | 85% |
| SEAS | Company report | 85% |
| United Parks and Resorts Inc | Company report | 85% |
| Nightfood Holdings Inc | Company report | 85% |
| The Hain Celestial Group Inc | Company report | 85% |
| Utz Brands Inc | Company report | 85% |
| Mondel z International Inc | Company report | 85% |
| Tootsie Roll Industries Inc | Company report | 85% |
| Rocky Mountain Chocolate Factory Inc | Company report | 85% |
| The J M Smucker Company | Company report | 85% |
| General Mills Inc | Company report | 85% |
| Post Holdings Inc | Company report | 85% |
| Chase General Corp | Company report | 85% |
| Kellanova | Company report | 85% |
| The Simply Good Foods Company | Company report | 85% |
| Conagra Brands Inc | Company report | 85% |
| Pepsico Inc | Company report | 85% |
| Hormel Foods Corporation | Company report | 85% |
Company report basis, confidence, active dates and source counts for Hershey Co's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Hershey Co's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Hershey Co | North America Confectionery 81.10 % |
| Pepsico Inc | PepsiCo Beverages North America 30.49 % |
| Mondel z International Inc | Europe 35.64 % |
| Kellanova | North America 49.91 % |
| Tyson Foods Inc | Beef 37.15 % |
| Dupont De Nemours Inc | Diversified Industrials 52.87 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Hershey Co's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Hershey Co | - | 698,437 | 102,199 |
| Pepsico Inc | 193,212 | 321,049 | 35,768 |
| Mondel z International Inc | 84,506 | 438,440 | 44,901 |
| Kellanova | 29,204 | 550,870 | 56,217 |
| Tyson Foods Inc | 21,186 | 418,752 | 4,496 |
| Dupont De Nemours Inc | 19,795 | 235,067 | 20,933 |
| PEERS TOTAL | 423,776 | 408,841 | 20,883 |
Hershey Co's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Hershey Co | United States 88.70 % |
| Dupont De Nemours Inc | Asia Pacific 23.77 % |
| The J M Smucker Company | United States 94.68 % |
| Pilgrim s Pride Corporation | United States 55.08 % |
| The Simply Good Foods Company | North America 97.96 % |
| The Hain Celestial Group Inc | US 45.82 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Hershey Co's Position in Industry Market Structure
Market-capitalization share and concentration across all 51 companies in Hershey Co's industry classification, broader than the peer set above. Market cap in millions of $.Hershey Co ranks #2 of 51 companies by market capitalization in its industry, holding 11.25 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,081, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Mondel z International Inc | 84,968 | 26.27 % |
| 2 | Hershey Co | 36,377 | 11.25 % |
| 3 | Kraft Heinz Co | 29,187 | 9.02 % |
| 4 | Tyson Foods Inc | 21,186 | 6.55 % |
| 5 | General Mills Inc | 1,234 | 5.2% |
| 6 | The J M Smucker Company | 1,234 | 5.2% |
| 7 | Magnum Ice Cream Co N v | 1,234 | 5.2% |
| 8 | Mccormick and Company Incorporated | 1,234 | 5.2% |
| 9 | Hormel Foods Corporation | 1,234 | 5.2% |
| 10 | Lamb Weston Holdings Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Hershey Co's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Hershey Co's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Mondel z International Inc | 84,968 | 16.14 % |
| 2 | Hershey Co | 36,377 | 1.51 % |
| 3 | Kraft Heinz Co | 29,187 | 0.91 % |
| 4 | Tyson Foods Inc | 1,234 | 12.3% |
| 5 | General Mills Inc | 1,234 | 12.3% |
| 6 | The J M Smucker Company | 1,234 | 12.3% |
| 7 | Magnum Ice Cream Co N v | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Hershey Co's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Hershey Co's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Food Processing industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (89 companies). See the full Food Processing industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 41.95 % | 21.54 % (avg) | +20.4 pp |
| Operating Margin | 20.77 % | industry median | +20.0 pp |
| EBITDA Margin | 24.91 % | -0.33 % (avg) | +25.2 pp |
| Capital Intensity (Capex / Revenue) | 3.61 % | 4.82 % (avg) | -1.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Hershey Co's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 3.67 % | 2.51 % | 2.05 % | 10.08 % | 16.13 % | 7.17 % | 0.33 % | 4.38 % |
| Operating Margin | 20.84 % | 19.98 % | 21.87 % | 22.78 % | 21.70 % | 22.94 % | 21.87 % | 12.33 % |
| Return on Invested Capital | 27.47 % | 21.92 % | 20.56 % | 20.50 % | 21.04 % | 20.59 % | 18.88 % | 9.42 % |
| P/E | 19.2x | 27.0x | 24.5x | 26.3x | 28.7x | 20.9x | 17.7x | 42.2x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Hershey Co's Strategic Group Map
Hershey Co is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Hershey Co's trailing-12-month revenue growth of 6.7% and operating margin of 20.8% compares with an average of 4.2% growth and 14.7% margin across its 8 closest peers by combined growth, margin and ROIC -- Hershey Co sits above that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Hershey Co's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Hershey Co falls in the Dog quadrant: relative market share of 0.43x vs its largest competitor, in an industry growing revenue 2.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Hershey Co's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,081 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.61 % vs industry average 4.82 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Hershey Co's dedicated Suppliers and Customers pages, not here.
Hershey Co's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Hershey Co falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Hershey Co's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 20.0 points above the industry median.
- Return on equity 29.7 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+6.9% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.43x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Hershey Co's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Hershey Co | - | 1.21 | 1.17 |
| Pepsico Inc | 0.30 | 0.91 | 2.38 |
| Mondel z International Inc | - | 0.59 | 0.77 |
| Kellanova | 0.08 | 0.74 | 1.39 |
| Tyson Foods Inc | 0.15 | 1.58 | 0.57 |
| Dupont De Nemours Inc | 0.59 | 2.47 | 0.23 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Hershey Co's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Hershey Co | Q3 2026 | +3.0 % | +110.2 % |
| Pepsico Inc | Q3 2026 | +5.6 % | +16.4 % |
| Mondel z International Inc | Q3 2026 | +2.3 % | +74.9 % |
| Kellanova | Q3 2025 | +0.8 % | -15.1 % |
| Tyson Foods Inc | Q2 2026 | -0.1 % | +169.6 % |
| Dupont De Nemours Inc | Q3 2026 | -38.2 % | - |
| PEERS TOTAL | -0.1 % | +12.2 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Hershey Co's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Hershey Co | Q3 2026 | -17.7 % | +17.0 % |
| Pepsico Inc | Q3 2026 | +3.7 % | -7.7 % |
| Mondel z International Inc | Q3 2026 | -15.3 % | -2.0 % |
| Kellanova | Q3 2025 | +5.8 % | +0.7 % |
| Tyson Foods Inc | Q2 2026 | +1.6 % | -30.0 % |
| Dupont De Nemours Inc | Q3 2026 | +1.9 % | -4.1 % |
Hershey Co's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Hershey Co | 12.94% | 16.71% | 38.14% |
| Pepsico Inc | 9.90% | 13.66% | 50.41% |
| Mondel z International Inc | 5.72% | 7.76% | 15.56% |
| Kellanova | 8.26% | 13.13% | 31.51% |
| Tyson Foods Inc | 1.66% | 1.98% | 3.28% |
| Dupont De Nemours Inc | 1.48% | 1.58% | 2.25% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Hershey Co's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Hershey Co | 33.22 | - |
| Pepsico Inc | 17.76 | 1.97 |
| Mondel z International Inc | 20.83 | 2.12 |
| Kellanova | 22.86 | 2.30 |
| Tyson Foods Inc | 36.81 | 0.38 |
| Dupont De Nemours Inc | 71.47 | 5.61 |
| PEERS AVERAGE | 24.57 | 1.35 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.