The Hershey Company Financial Ratios — HSY Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	12.83	12.64	14.65	14.07	8.22	11.31	11.86	16.68	25.82	69.83	58.04	48.71	43.32	41.5	15.18
Return on Assets (%)	14.49	14.43	16.23	15.43	9.35	13.25	14.14	17.77	14.51	14.81	15.12	15.4	16.29	17.88	6.62
Return on Capital (%)	10.18	10.15	11.67	11.12	6.5	8.56	9.16	12.13	14.33	21.78	20.66	20.47	21.24	22.35	9.17
Return on Invested Capital (%)	24.84	26.27	26.89	25.34	22.35	22.93	27.84	28.99	23.58	23.28	22.29	23.52	24.92	27.1	10.33
Gross Margin (%)	41.64	43.04	45.91	44.95	45.79	42.6	45.98	45.89	45.36	45.42	45.13	43.18	44.76	47.32	33.55
EBITDA Margin (%)	20.88	20.56	21.8	22.22	22.45	21.24	24.37	25.61	25.14	25.83	26.33	25.35	26.7	30.19	16.81
Operating Margin (%)	17.34	17.4	18.99	19.37	19.13	17.18	20.89	21.83	21.49	22.21	22.82	21.72	22.94	26.13	12.5
Incremental Operating Margin (%)	15.96	18.09	39.98	29.44	69.76	-252.33	387.6	47.38	8.22	57.38	28.83	14.89	40.03	981.89	-298.82
Pretax Margin (%)	15.83	15.29	17.51	17.6	12.21	14.78	14.78	18.1	17.29	18.34	20.03	18.4	19.45	22.08	10.38
Profit Margin (%)	10.34	9.95	11.48	11.41	6.94	9.68	10.42	15.11	14.4	15.69	16.47	15.79	16.68	19.83	7.55
Net Income to Common Margin (%)	10.34	9.95	11.48	11.41	6.94	9.68	10.42	15.11	14.4	15.69	16.47	15.79	16.68	19.83	7.55
Effective Tax Rate (%)	34.68	34.92	34.43	35.15	43.12	34.51	31.88	16.95	16.95	14.69	17.49	14.2	14.28	10.21	27.26
Dvd Payout Ratio (%)	48.35	51.63	48	52	92.82	69.37	72.08	48.3	53.36	50.37	46.1	47.12	47.75	48.84	122.87
Sustainable Growth Rate (%)	6.63	6.12	7.62	6.76	0.59	3.46	3.31	8.62	12.05	34.66	31.28	25.76	22.63	21.23	-3.47

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	1,888	1,907	1,962	2,178	2,421	2,980	2,920	4,458	4,480	4,821	5,376	5,118	5,126	5,448	5,739
ST Debt	140	376	167	636	863	633	859	1,203	765	549	979	1,479	1,059	1,953	771
LT Debt	1,748	1,531	1,795	1,542	1,557	2,347	2,061	3,254	3,715	4,272	4,398	3,639	4,066	3,495	4,967
Total Debt/EBITDA	1.49	1.4	1.26	1.32	1.46	1.89	1.59	2.23	2.23	2.29	2.28	1.94	1.72	1.61	2.92
Net Debt/EBITDA	0.94	0.86	0.54	1.09	1.25	1.7	1.39	1.94	1.84	1.61	1.96	1.61	1.45	1.27	2.24
Total Debt/EBIT	1.79	1.65	1.45	1.51	1.71	2.33	1.86	2.62	2.61	2.66	2.63	2.26	2	1.86	3.92
Net Debt/EBIT	1.13	1.02	0.62	1.25	1.47	2.1	1.62	2.28	2.15	1.87	2.26	1.88	1.69	1.47	3.01
EBITDA to Interest Expense	13.4	13.87	17.02	18.83	20.48	17.18	18.31	13.59	13.2	13.72	18.19	18.86	18.46	19.4	8.74
EBITDA-CapEx/Interest Expense	13.15	13.87	17.02	18.83	20.48	17.18	18.31	13.59	13.2	13.72	18.19	18.86	18.46	19.4	8.42
EBIT to Interest Expense	11.12	11.74	14.83	16.41	17.45	13.9	15.69	11.58	11.28	11.8	15.77	16.15	15.86	16.79	6.5
Interest Expense	95	99	92	88	81	92	100	147	152	153	130	140	162	174	225
Common Equity/Total Assets	114.99	113.31	108.52	110.63	117.09	117.22	121.2	95.96	18.57	23.55	28.25	34.81	40.19	45.72	41.6
Long-Term Debt/Equity (%)	198.48	146.03	111.08	101.5	148.65	283.62	221.24	231.25	212.89	190.88	159.49	110.28	99.2	74.13	107.13
Long-Term Debt/Capital (%)	25.05	20.95	23.05	18.22	17.84	24.72	21.32	27.44	61.94	61.24	52.87	40.75	41.03	30.75	43.36
Long-Term Debt/Total Assets (%)	39.67	32.2	33.51	27.43	29.14	42.49	37.11	42.25	45.64	46.78	42.23	33.23	34.16	26.99	36.15
Total Debt/Equity (%)	214.34	181.89	121.41	143.32	231.08	360.06	313.5	316.76	256.73	215.43	194.98	155.11	125.04	115.55	123.76
Total Debt/Capital (%)	27.05	26.1	25.19	25.73	27.73	31.38	30.21	37.59	74.69	69.12	64.64	57.32	51.72	47.92	50.09
Total Debt/Total Assets (%)	42.84	40.1	36.62	38.73	45.29	53.95	52.59	57.87	55.03	52.79	51.63	46.74	43.06	42.08	41.76
Net Debt to Equity	135.59	112.42	52.2	118.65	198	324.18	272.69	274.97	211.67	151.16	168.07	128.93	105.77	91.15	94.97
Net Debt/Capital (%)	19	17.92	12.65	22.29	24.75	29.16	27.35	34.34	67.1	58.01	58.01	50.25	45.6	40.4	41.82
EBITDA	1,270	1,366	1,558	1,649	1,658	1,580	1,832	1,996	2,008	2,105	2,362	2,642	2,981	3,383	1,966
EBITDA-CapEx	1,246	1,366	1,558	1,649	1,658	1,580	1,832	1,996	2,008	2,105	2,362	2,642	2,981	3,383	1,892
Operating Income (Loss)	1,054	1,156	1,357	1,438	1,413	1,278	1,570	1,700	1,717	1,810	2,047	2,263	2,561	2,927	1,462

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.59	0.5	0.79	0.24	0.16	0.16	0.18	0.24	0.25	0.6	0.13	0.14	0.13	0.19	0.31
Current Ratio	1.74	1.44	1.77	1.16	0.83	0.95	0.96	0.93	1.05	1.57	0.9	0.8	0.97	0.96	- -
Quick Ratio	0.93	0.81	1.13	0.55	0.43	0.46	0.47	0.49	0.53	0.93	0.4	0.36	0.41	0.39	0.55
CFO/Avg Current Liab	0.48	0.83	0.83	0.51	0.6	0.49	0.63	0.71	0.8	0.87	0.95	0.81	0.74	0.73	0.66
Common Equity/Total Assets	114.99	113.31	108.52	110.63	117.09	117.22	121.2	95.96	18.57	23.55	28.25	34.81	40.19	45.72	41.6
Long-Term Debt/Equity (%)	198.48	146.03	111.08	101.5	148.65	283.62	221.24	231.25	212.89	190.88	159.49	110.28	99.2	74.13	107.13
Long-Term Debt/Capital (%)	25.05	20.95	23.05	18.22	17.84	24.72	21.32	27.44	61.94	61.24	52.87	40.75	41.03	30.75	43.36
Long-Term Debt/Total Assets (%)	39.67	32.2	33.51	27.43	29.14	42.49	37.11	42.25	45.64	46.78	42.23	33.23	34.16	26.99	36.15
Total Debt/Equity (%)	214.34	181.89	121.41	143.32	231.08	360.06	313.5	316.76	256.73	215.43	194.98	155.11	125.04	115.55	123.76
Total Debt/Capital (%)	27.05	26.1	25.19	25.73	27.73	31.38	30.21	37.59	74.69	69.12	64.64	57.32	51.72	47.92	50.09
Total Debt/Total Assets (%)	42.84	40.1	36.62	38.73	45.29	53.95	52.59	57.87	55.03	52.79	51.63	46.74	43.06	42.08	41.76
CFO/Total Liabilities	16.67	29.54	31.84	20.58	29.24	21.58	27.03	25.41	27.58	24.65	27.21	30.43	29.77	30.75	25.01
CFO/CapEx	24.9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	30.94
Altman's Z-Score	6.93	7.25	8.03	8.02	7.45	7.71	8.18	7.27	6.23	5.97	6.65	7.39	6.65	6.08	5.03

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	15.4	15.44	15.22	13.81	12.35	12.61	12.85	13.18	13.74	13.77	13.94	15.07	14.55	13.8	15.28
Days Sales Outstanding	23.7	23.65	23.99	26.43	29.55	28.96	28.4	27.7	26.57	26.51	26.17	24.22	25.09	26.46	23.88
Inventory Turnover	6	5.9	5.98	5.59	5.16	5.71	5.42	5.48	5.45	5	5.04	5.48	4.91	4.55	5.79
Days Inventory Outstanding	60.81	61.83	61.04	65.24	70.74	63.96	67.36	66.57	66.92	73	72.39	66.63	74.4	80.25	63.03
Accounts Payable Turnover	8.82	8.74	8.61	8.96	8.27	8.56	7.78	8.28	8.34	8.13	7.78	7.34	7.91	8.08	9.69
Accounts Payable Turnover Days	41.37	41.74	42.37	40.74	44.14	42.65	46.92	44.06	43.74	44.89	46.94	49.71	46.12	45.15	37.65
Cash Conversion Cycle	43.14	43.74	42.66	50.94	56.15	50.26	48.84	50.2	49.75	54.62	51.63	41.14	53.36	61.56	49.26
Inventory to Cash Days	-37.12	-38.19	-37.05	-38.81	-41.19	-35	-38.96	-38.87	-40.35	-46.5	-46.22	-42.41	-49.31	-53.8	-39.15
Inventories	649	633	660	801	751	746	753	785	815	964	989	1,173	1,341	1,254	1,429
Raw Materials	242	257	227	378	353	315	225	237	271	389	395	373	481	478	762
Work In Process	92	78	80	64	68	88	94	107	99	105	110	137	192	205	294
Finished Goods	482	497	518	532	535	529	615	619	615	646	649	855	949	991	1,075
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	13,998	16,252	21,797	23,130	19,558	22,148	24,092	22,507	30,786	31,753	39,997	47,596	38,171	34,372	36,923
- Cash & Cash Equivalents	694	728	1,119	375	347	297	380	588	493	1,144	329	464	402	731	926
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	24	12	11	64	49	42	16	9	6	4	- -	- -	- -	- -	- -
+ Total Debt	1,888	1,907	1,962	2,178	2,421	2,980	2,920	4,458	4,480	4,821	5,376	5,118	5,126	5,448	5,739
Enterprise Value	15,216	17,442	22,651	24,900	21,682	24,873	26,648	26,385	34,778	35,433	45,044	52,250	42,895	39,089	41,736
Total Capital	6,980	7,306	7,787	8,463	8,727	9,498	9,668	11,858	5,998	6,975	8,318	8,929	9,909	11,367	11,456
Total Debt/Capital (%)	27.05	26.1	25.19	25.73	27.73	31.38	30.21	37.59	74.69	69.12	64.64	57.32	51.72	47.92	50.09
Total Debt / EV	0.12	0.11	0.09	0.09	0.11	0.12	0.11	0.17	0.13	0.14	0.12	0.1	0.12	0.14	0.14
EV/Sales	2.5	2.63	3.17	3.36	2.94	3.34	3.55	3.39	4.35	4.35	5.02	5.01	3.84	3.49	3.57
EV/EBITDA	11.98	12.77	14.54	15.1	13.07	15.74	14.55	13.22	17.32	16.83	19.07	19.78	14.39	11.56	21.23
EV/EBIT	14.43	15.09	16.7	17.32	15.34	19.46	16.97	15.52	20.26	19.57	22	23.09	16.75	13.35	28.54
EV/Cash Flow to Firm	23.42	15.05	18.1	27.63	16.65	23.17	20.22	15.32	18.4	19.36	20.57	21.34	17.43	14.54	17.1
EV/Free Cash Flow to Firm	22.6	15.05	18.1	27.63	16.65	23.17	20.22	15.32	18.4	19.36	20.57	21.34	17.43	14.54	16.6
Diluted Market Cap	14,204	16,490	22,091	23,367	19,698	22,269	24,262	22,614	39,878	41,133	40,195	47,837	38,322	34,461	37,011
Diluted Enterprise Value	15,423	17,681	22,946	25,235	21,821	24,994	26,818	26,492	43,870	44,814	45,242	52,491	43,046	39,177	41,824
EV per Share	67.16	77.51	101.04	111.88	98.96	116.16	125.56	125.65	166.04	169.99	217.88	254.21	209.51	192.59	205.7
TTM Sales	6,081	6,644	7,146	7,422	7,387	7,440	7,515	7,791	7,986	8,150	8,971	10,419	11,165	11,202	11,693
TTM EBITDA	1,270	1,366	1,558	1,649	1,658	1,580	1,832	1,996	2,008	2,105	2,362	2,642	2,981	3,383	1,966
TTM Operating Income	1,054	1,156	1,357	1,438	1,413	1,278	1,570	1,700	1,717	1,810	2,047	2,263	2,561	2,927	1,462
TTM Cash Flow to Firm	650	1,159	1,251	901	1,302	1,074	1,318	1,722	1,890	1,831	2,190	2,448	2,462	2,688	2,441
TTM Free Cash Flow to Firm	673	1,159	1,251	901	1,302	1,074	1,318	1,722	1,890	1,831	2,190	2,448	2,462	2,688	2,514

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	23.23	15.06	18.54	27.67	15.68	21.97	19.42	14.13	22.61	24.2	19.3	20.55	16.5	13.61	15.74
EV/EBIT	14.43	15.09	16.7	17.32	15.34	19.46	16.97	15.52	20.26	19.57	22	23.09	16.75	13.35	28.54
Enterprise Value	15,216	17,442	22,651	24,900	21,682	24,873	26,648	26,385	34,778	35,433	45,044	52,250	42,895	39,089	41,736
Low Price	46.24	59.32	72.54	87.88	82.41	82.42	101.61	89.1	100.8	109.88	143.58	190.93	178.82	166.69	140.13
EV/Sales	2.5	2.63	3.17	3.36	2.94	3.34	3.55	3.39	4.35	4.35	5.02	5.01	3.84	3.49	3.57
EV/EBITDA	11.98	12.77	14.54	15.1	13.07	15.74	14.55	13.22	17.32	16.83	19.07	19.78	14.39	11.56	21.23
Price/Earnings	22.26	24.59	26.57	27.31	38.13	30.76	30.77	19.11	26.78	24.83	27.07	28.94	20.5	15.47	41.8
Price/Earnings Average	20.07	23.05	24.53	25.63	40.47	28.82	29.42	17.9	24.44	23.3	23.71	27.37	25.02	17.36	39.85
Price/Earnings High	22.43	25.44	27.7	28.56	47.56	35.03	31.58	20.44	29.55	26.38	27.15	30.32	30.45	19.36	45.71
Price/Earnings Low	16.66	20.2	19.82	23.09	35.2	24.51	27.54	15.89	18.36	17.91	20.09	23.86	19.66	15.23	32.19
Price/Book Value	2.76	3.02	3.75	3.72	3.13	3.42	3.58	3.04	20.36	14.77	13.6	12.49	7.98	5.81	6.46
Price/Book Value Average	2.49	2.83	3.46	3.49	3.32	3.2	3.42	2.85	18.58	13.86	11.91	11.81	9.74	6.51	6.16
Price/Book Value High	2.78	3.12	3.91	3.89	3.9	3.89	3.67	3.26	22.47	15.69	13.64	13.08	11.85	7.27	7.06
Price/Book Value Low	2.07	2.48	2.8	3.14	2.89	2.73	3.2	2.53	13.96	10.65	10.09	10.3	7.65	5.71	4.97
Price/Tangible Book Value	55.48	66.16	27.67	62.77	-232.56	-38.67	-66.27	-12.51	-17.73	-25.75	-18.4	-29.86	-45.64	-148.12	-31.13
Price/Tangible Book Value Average	50.03	62.01	25.55	58.9	-246.84	-36.24	-63.36	-11.72	-16.18	-24.16	-16.11	-28.25	-55.68	-166.16	-29.67
Price/Tangible Book Value High	55.91	68.44	28.85	65.65	-290.08	-44.04	-68.01	-13.38	-19.57	-27.35	-18.45	-31.29	-67.78	-185.35	-34.04
Price/Tangible Book Value Low	41.53	54.34	20.64	53.08	-214.69	-30.82	-59.32	-10.4	-12.16	-18.57	-13.65	-24.62	-43.77	-145.79	-23.97
Price/Sales	2.3	2.45	3.05	3.12	2.65	2.98	3.21	2.89	3.85	3.9	4.46	4.57	3.42	3.07	3.16
Price/Sales Average	2.08	2.29	2.82	2.92	2.81	2.79	3.07	2.71	3.52	3.66	3.9	4.32	4.17	3.44	3.01
Price/Sales High	2.32	2.53	3.18	3.26	3.3	3.39	3.29	3.09	4.25	4.14	4.47	4.79	5.08	3.84	3.45
Price/Sales Low	1.72	2.01	2.28	2.64	2.44	2.37	2.87	2.4	2.64	2.81	3.31	3.77	3.28	3.02	2.43
Price/Cash Flow	23.81	14.84	18.29	27.39	15.57	21.85	19.28	14.07	17.45	18.68	19.2	20.45	16.43	13.58	16.21
Price/Cash Flow Average	21.47	13.91	16.89	25.7	16.52	20.48	18.44	13.17	15.93	17.53	16.82	19.34	20.05	15.23	15.46
Price/Cash Flow High	24	15.36	19.07	28.65	19.42	24.89	19.79	15.04	19.26	19.85	19.26	21.42	24.4	16.99	17.73
Price/Cash Flow Low	17.82	12.19	13.65	23.16	14.37	17.42	17.26	11.69	11.97	13.48	14.25	16.86	15.76	13.36	12.48
Price/Free Cash Flow Average	20.95	14.12	17.12	25.97	16.64	20.59	18.57	13.24	20.63	22.71	16.9	19.44	20.13	15.27	15.01
Price/Free Cash Flow High	23.41	15.58	19.33	28.94	19.56	25.02	19.93	15.12	24.95	25.71	19.35	21.53	24.5	17.03	17.22
Price/Free Cash Flow Low	17.39	12.37	13.83	23.4	14.47	17.51	17.38	11.75	15.5	17.46	14.32	16.94	15.82	13.4	12.12
EV/Sales Average	2.28	2.47	2.94	3.18	3.1	3.16	3.41	3.2	4.02	4.11	4.47	4.77	4.59	3.86	3.42
EV/Sales High	2.52	2.71	3.3	3.51	3.59	3.76	3.63	3.59	4.75	4.59	5.03	5.23	5.5	4.26	3.86
EV/Sales Low	1.92	2.19	2.4	2.89	2.73	2.74	3.21	2.9	3.14	3.26	3.87	4.21	3.7	3.44	2.84
EV/EBITDA Average	10.9	12.02	13.47	14.29	13.8	14.86	13.97	12.51	15.98	15.9	16.96	18.8	17.21	12.79	20.35
EV/EBITDA High	12.07	13.18	15.14	15.8	15.99	17.69	14.89	14.01	18.91	17.77	19.12	20.64	20.6	14.11	22.99
EV/EBITDA Low	9.21	10.64	10.99	12.99	12.17	12.89	13.17	11.32	12.5	12.63	14.7	16.62	13.87	11.4	16.91
EV/EBIT Average	13.13	14.21	15.46	16.39	16.19	18.37	16.3	14.68	18.69	18.49	19.57	21.95	20.03	14.78	27.37
EV/EBIT High	14.54	15.57	17.38	18.12	18.76	21.86	17.38	16.44	22.12	20.67	22.06	24.1	23.98	16.3	30.91
EV/EBIT Low	11.09	12.58	12.62	14.9	14.28	15.94	15.37	13.28	14.63	14.68	16.96	19.4	16.14	13.17	22.74
Last Price	61.78	72.22	97.23	103.93	89.27	103.43	113.51	107.18	146.98	152.33	193.47	231.57	186.44	169.35	181.98
High Price	62.26	74.71	101.37	108.69	111.35	117.79	116.49	114.63	162.2	161.83	194.01	242.64	276.88	211.92	199
Enterprise Value Average	13,841	16,422	20,978	23,572	22,882	23,477	25,592	24,957	32,086	33,475	40,071	49,669	51,297	43,276	40,013
Enterprise Value High	15,325	18,003	23,579	26,057	26,519	27,948	27,281	27,950	37,966	37,413	45,155	54,525	61,412	47,729	45,189
Enterprise Value Low	11,695	14,539	17,116	21,426	20,179	20,374	24,123	22,589	25,105	26,585	34,730	43,897	41,335	38,549	33,244

Shares Outstanding	225	224	224	221	217	212	211	210	209	208	206	205	204	202	203
Diluted Weighted Avg Shares	230	228	227	225	221	215	214	211	271	270	208	207	206	203	203
Basic Weighted Avg Shares	227	225	224	223	219	214	212	210	209	208	207	206	205	203	203
Revenue per Share	26.84	29.53	31.88	33.35	33.71	34.74	35.41	37.1	38.13	39.1	43.4	50.69	54.53	55.19	57.63
EBITDA per Share	5.6	6.07	6.95	7.41	7.57	7.38	8.63	9.5	9.59	10.1	11.43	12.85	14.56	16.67	9.69
Operating Income per Share	4.65	5.14	6.05	6.46	6.45	5.97	7.4	8.1	8.2	8.68	9.9	11.01	12.51	14.42	7.21
Basic EPS, GAAP	2.78	2.94	3.66	3.81	2.34	3.36	3.69	5.61	5.49	6.13	7.15	8	9.09	10.94	4.35
Basic EPS from Cont Ops	2.78	2.94	3.66	3.81	2.34	3.36	3.56	5.58	5.47	6.12	7.17	8	9.09	10.94	4.35
Diluted EPS, GAAP	2.74	2.89	3.61	3.77	2.32	3.34	3.66	5.58	4.24	4.74	7.11	7.96	9.06	10.92	4.34
Diluted EPS from Cont Ops	2.74	2.89	3.61	3.77	2.32	3.34	3.54	5.55	4.23	4.72	7.14	7.96	9.06	10.92	4.34
Dividend per Share	1.34	1.52	1.76	1.98	2.17	2.33	2.48	2.68	2.91	3.07	3.32	3.77	4.34	5.34	5.35
Cash Flow per Share	2.59	4.87	5.31	3.79	5.73	4.73	5.89	7.62	8.42	8.15	10.08	11.33	11.35	12.47	11.22
Free Cash Flow per Basic Share	2.49	4.87	5.31	3.79	5.73	4.73	5.89	7.62	8.42	8.15	10.08	11.33	11.35	12.47	10.86
Cash & Equivalents per Share	3.06	3.24	4.99	2.12	1.58	1.39	1.79	2.8	2.35	5.49	1.59	2.26	1.96	3.6	4.56
Book Value per Share	22.37	23.94	25.94	27.95	28.56	30.24	31.71	35.2	7.22	10.32	14.23	18.54	23.37	29.17	28.18
Tangible Book Value per Share	1.11	1.09	3.51	1.66	-0.38	-2.67	-1.71	-8.56	-8.29	-5.92	-10.52	-7.75	-4.09	-1.14	-5.85

The Hershey Company

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)