HSYHershey

Consumer staples · Confectionery · NYSE

The Hershey Company was incorporated under the laws of the State of Delaware on October 24, 1927 as a successor to a business founded in 1894 by Milton S. Hershey. 10-K, Item 1

Headquarters: Hershey, PA
CEO: Kirk Tanner
Next results: around Feb 4, 2027

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RevenueFY2016–25 $11.7B+4.4% Highest in 10 years 10-K FY2025 · XBRL Net incomeFY2016–25 $883.3M−60.2% FY2024: $2.2B 10-K FY2025 · XBRL Free cash flowFY2016–25 $1.8B−5.3% FY2024: $1.9B 10-K FY2025 · XBRL Operating marginFY2016–25 12.3%−13.5 pts 16.9% in FY2016 10-K FY2025 · XBRL

What changed

10-K filed Feb 17, 2026 against Feb 18, 2025

Area	What changed	Source
Risk factors	3 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Critical audit matters changed	New this year: Accounting for the Provisional Valuation of Identifiable Intangible Assets in the Acquisition of LesserEvil, LLC (“As described in Note 2 to the consolidated financial statements, the Company completed the acquisition of LesserEvil, LLC (“LesserEvil”) on November 18, 2025 for consideration of $815.2 million. As of December 31, 2025, the purchase price that has been provisionally allocated to acquired intangible ”). Same as last year: Valuation of Accrued Liabilities for Trade Promotion Activities	10-K · XBRL
Accounting checks	10 other checks clear, 1 worth a look	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 17, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-18. Quoted as filed.

Furthermore, artificial intelligence (“AI”) technologies have developed rapidly, and our business may be adversely affected if we cannot successfully integrate AI into our business in a timely, cost-effective, and compliant manner. Our competitors may incorporate AI into their business more successfully than us, which could have an…
10-K, Item 1A

All 3 new paragraphs →

Accounting checks

latest 10-K

10 of 11 clear 1 worth a look. Checks, not verdicts.

!
Critical audit matters changedNew this year: Accounting for the Provisional Valuation of Identifiable Intangible Assets in the Acquisition of LesserEvil, LLC (“As described in Note 2 to the consolidated financial statements, the Company completed the acquisition of LesserEvil, LLC (“LesserEvil”) on November 18, 2025 for consideration of $815.2 million. As of December 31, 2025, the purchase price that has been provisionally allocated to acquired intangible ”). Same as last year: Valuation of Accrued Liabilities for Trade Promotion Activities
✓
Receivables -8.9% vs revenue +4.4% (-13.2 pts)
✓
Cash from operations $2.3B vs net income $883.3M (FY ending 2025-12-31)
✓
Inventory +14.0% vs revenue +4.4% (+9.6 pts)
✓
Same auditor in both 10-Ks: Ernst & Young LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 29, 20268-K Quarterly results 8-K item 2.02
Oct 29, 202610-Q Quarterly report (10-Q) period ended Sep 27, 2026

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