HSY Hershey margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 87

Gross margin

41.9%

Operating margin

20.8%

EBITDA margin

24.9%

Net margin

14.6%

The Hershey shows a gross margin of 41.9%, an operating margin of 20.8%, an EBITDA margin of 24.9%, and a net margin of 14.6%. All reported margins improved year over year, led by EBITDA margin with an increase of 5.4 percentage points.

HSY margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Hershey's margins averaged 41.43% gross, 19.99% operating, 22.73% EBITDA, and 14.31% net. All four current margins are above their three-year averages.

HSY margin expansion

Year-over-year margin changes in percentage points

The biggest expansion was in EBITDA margin, which rose by 5.4 percentage points. The other available margins also improved.

Gross margin expansion

4.2pp

Operating margin expansion

4pp

EBITDA margin expansion

5.4pp

Net margin expansion

2.8pp

HSY Gross margin

Across the last 3 years, Hershey's gross margin averaged 41.43%. The current gross margin stands at 41.9%, 0.5 percentage points above its three-year average. Gross margin was highest at 47.3% in Dec 2024 and lowest at 33.5% in Dec 2025.

HSY Operating margin

Hershey's operating margin averaged 19.99% across the past 3 years. Compared with its three-year average, Hershey's current operating margin is 20.8% and is 0.8 percentage points above its three-year average. Over the last 3 years, Hershey's operating margin peaked at 25.9% in Dec 2024 and reached a low of 12.3% in Dec 2025.

HSY EBITDA margin

The average EBITDA margin for Hershey was 22.73% across the past 3 years. Hershey's current EBITDA margin is 24.9% and is 2.2 percentage points above its three-year average. The EBITDA margin for Hershey moved between 16.3% in Dec 2025 and 27.6% in Dec 2024.

HSY Net margin

Hershey's net margin averaged 14.31% during the last 3 years. Hershey currently reports a net margin of 14.6%, 0.3 percentage points above its three-year average. Over the last 3 years, Hershey's net margin peaked at 19.8% in Dec 2024 and reached a low of 7.6% in Dec 2025.

HSY margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 41.9%, HSY stands above the Consumer Defensive sector and its peers average. In comparison with its Consumer Defensive sector average of 36.4%, Hershey's gross margin is 15% higher.

HSY margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Hershey's gross margin?

As of Sep 27, 2026, HSY has a gross margin of 41.9%.

What is Hershey's operating margin?

The current operating margin for HSY is 20.8% as of Sep 27, 2026.

What is Hershey's EBITDA margin?

As of Sep 27, 2026, HSY has an EBITDA margin of 24.9%.

What is Hershey's net margin?

For the period ending Sep 27, 2026, HSY recorded a net margin of 14.6%.

What are the average margins of HSY?

Across the last 3 years, HSY averaged 41.4% gross, 20.0% operating, 22.7% EBITDA, and 14.3% net.

What are the highest historical margins of HSY?

Hershey's highest recorded margins during the past 5 years were 47.3% gross in Dec 2024, 25.9% operating in Dec 2024, 27.6% EBITDA in Dec 2024, and 19.8% net in Dec 2024.

What are the lowest historical margins of HSY?

Looking back across 5 years, HSY reached its lowest margins at 33.5% gross in Dec 2025, 12.3% operating in Dec 2025, 16.3% EBITDA in Dec 2025, and 7.6% net in Dec 2025.