Hershey - Public Comps and Valuation Multiples

Hershey Overview

About Hershey

Hershey is a leading US confectionery manufacturer (around a $54 billion market, according to Euromonitor), controlling around 36% of the domestic chocolate space. Beyond its namesake label, the firm's mix has expanded over the last 85 years and now consists of 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the US, including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confection business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its mix, Pirate Brands, and Dot's Pretzels over the past few years.

Founded

1927

HQ

Employees

20.0K+

Website

thehersheycompany.com

Sectors

Food & Beverages

Financials

LTM Revenue $11.3B

LTM EBITDA $2.8B

EV

$39.2B

Valuation Multiples

Multiples.vc

Valuation Multiples for 10K+ Public Comps

Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.

Browse Valuation Multiples

Hershey Financials

Hershey has a last 12-month revenue of $11.3B and a last 12-month EBITDA of $2.8B.

In the most recent fiscal year, Hershey achieved revenue of $11.2B and an EBITDA of $3.1B.

Hershey expects next 12-month revenue of XXX and NTM EBITDA of XXX

See Hershey valuation multiples based on analyst estimates

Hershey P&L

	FY 2023	FY 2024	FY 2025	LTM	NTM
Revenue	$11.2B	$11.2B	XXX	XXX	XXX
Gross Profit	$4.5B	$5.0B	XXX	XXX	XXX
Gross Margin	40%	45%	XXX	XXX	XXX
EBITDA	$2.8B	$3.1B	XXX	XXX	XXX
EBITDA Margin	25%	28%	XXX	XXX	XXX
Net Profit	$1.6B	$1.9B	XXX	XXX	XXX
Net Margin	15%	17%	XXX	XXX	XXX
Net Debt	$4.3B	$4.4B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

Hershey Stock Performance

As of April 15, 2025, Hershey's stock price is $170.

Hershey has current market cap of $34.5B, and EV of $39.2B.

See Hershey trading valuation data

Hershey Stock Data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$39.2B	$34.5B	XXX	XXX	XXX	XXX	$8.44

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more

Hershey Valuation Multiples

As of April 15, 2025, Hershey has market cap of $34.5B and EV of $39.2B.

Hershey's trades at 3.5x LTM EV/Revenue multiple, and 14.1x LTM EBITDA.

Analysts estimate Hershey's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

See valuation multiples for Hershey and 10K+ public comps

Hershey Financial Valuation Multiples

	FY 2024	FY 2025E	FY 2026E	FY 2027E
EV	$39.2B	XXX	XXX	XXX
EV/Revenue	3.5x	XXX	XXX	XXX
EV/EBITDA	12.6x	XXX	XXX	XXX
P/E	15.5x	XXX	XXX	XXX
P/E/Growth	-0.7x	XXX	XXX	XXX
EV/FCF	20.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Get Hershey Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.

Hershey Valuation Multiples

Hershey's NTM/LTM revenue growth is 2%

Hershey's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $0.1M for the same period.

Over next 12 months, Hershey's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .

Analysts estimate Hershey's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

See operational valuation multiples for Hershey and other 10K+ public comps

Hershey Operational Valuation Multiples

	FY 2024	NTM	FY 2025E	FY 2026E	FY 2027E
Revenue Growth	0%	XXX	XXX	XXX	XXX
EBITDA Margin	28%	XXX	XXX	XXX	XXX
EBITDA Growth	13%	XXX	XXX	XXX	XXX
Rule of 40 (SaaS-only)	30%	XXX	XXX	XXX	XXX
Revenue per Employee	$0.6M	XXX	XXX	XXX	XXX
Opex per Employee	$0.1M	XXX	XXX	XXX	XXX
S&M Expenses to Revenue	n/a	XXX	XXX	XXX	XXX
G&A Expenses to Revenue	n/a	XXX	XXX	XXX	XXX
R&D Expenses to Revenue	n/a	XXX	XXX	XXX	XXX
Opex to Revenue	21%	XXX	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

Digital Therapeutics

Pharma Analytics

Private Equity

ERP Software

Developer Tools

Consumer SaaS

Streaming Platforms

Explore Valuation Multiples by Industry