Hershey 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 aisle. Beyond its namesake label, the firm's portfolio has expanded over the last 85 years and now comprises 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 confectionery business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its portfolio, as well as Pirate Brands and Dot's Pretzels over the past few years.

Founded

1927

HQ

Employees

19.6K

Website

thehersheycompany.com

Sectors

Food & Beverages

Financials (LTM)

Revenue: $12B

EBITDA: $3B

EV

$53B

Valuation Multiples

Multiples.vc

Start free trial

Hershey Financials

Hershey reported last 12-month revenue of $12B and EBITDA of $3B.

In the same LTM period, Hershey generated $5B in gross profit, $3B in EBITDA, and $1B in net income.

Hershey P&L

In the most recent fiscal year, Hershey reported revenue of $12B and EBITDA of $2B.

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

Hershey Stock Performance

Hershey has current market cap of $48B, and enterprise value of $53B.

Hershey's stock price is $235.69.

Hershey Valuation Multiples

Hershey trades at 4.5x EV/Revenue multiple, and 20.4x EV/EBITDA.

Hershey Financial Valuation Multiples

As of March 19, 2026, Hershey has market cap of $48B and EV of $53B.

Equity research analysts estimate Hershey's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Hershey has a P/E ratio of 34.8x.

Hershey Margins & Growth Rates

Hershey's revenue in the last 12 month grew by 4%.

Hershey's revenue per employee in the last FY averaged $0.6M.

Hershey's rule of 40 is 26% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Hershey's rule of X is 32% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Hershey Public Comps

See public comps and valuation multiples for other Food & Beverages comps.

Hershey M&A Activity

Hershey acquired XXX companies to date.

Last acquisition by Hershey was on XXXXXXXX, XXXXX. Hershey acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Hershey Investment Activity

Hershey invested in XXX companies to date.

Hershey made its latest investment on XXXXXXXX, XXXXX. Hershey invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).