Hershey Co
Hershey Co returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 28, 2026 | — | 20.24% | — | — | 10.78% | — |
| FY 2026 Q1 | Mar 29, 2026 | — | 15.75% | — | — | 7.87% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | 14.6% | — | 18.89% | 6.62% | — |
| FY 2025 Q3 | Sep 28, 2025 | — | 20.62% | — | — | 10.38% | — |
| FY 2025 Q2 | Jun 29, 2025 | — | 21.93% | — | — | 11.74% | — |
| FY 2025 Q1 | Mar 30, 2025 | — | 22.26% | — | — | 12.5% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | 32.36% | — | 50.4% | 17.88% | — |
| FY 2024 Q3 | Sep 29, 2024 | — | 27.81% | — | — | 14.45% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | 29.39% | — | — | 15.42% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | 33.7% | — | — | 17.63% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | 30.88% | — | 50.33% | 16.29% | — |
| FY 2023 Q3 | Oct 1, 2023 | — | 31.91% | — | — | 16.77% | — |
| FY 2023 Q2 | Jul 2, 2023 | — | 30.38% | — | — | 16.19% | — |
| FY 2023 Q1 | Apr 2, 2023 | — | 29.41% | — | — | 15.61% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | 28.96% | — | 54.31% | 15.4% | — |
| FY 2022 Q3 | Oct 2, 2022 | — | 29.29% | — | — | 15.63% | — |
| FY 2022 Q2 | Jul 3, 2022 | — | 30.33% | — | — | 16.74% | — |
| FY 2022 Q1 | Apr 3, 2022 | — | 28.83% | — | — | 16.41% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | 26.96% | — | 59.2% | 15.12% | — |
| FY 2021 Q3 | Oct 3, 2021 | — | 27.33% | — | 62.4% | 15.33% | — |
| FY 2021 Q2 | Jul 4, 2021 | — | 28.96% | — | 71.45% | 16.14% | — |
| FY 2021 Q1 | Apr 4, 2021 | — | 29.53% | — | 71.47% | 15.69% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | 26.66% | — | 64.36% | 14.81% | — |
| FY 2020 Q3 | Sep 27, 2020 | — | 26.6% | — | 62.56% | 13.48% | — |
| FY 2020 Q2 | Jun 28, 2020 | — | 25.01% | — | 62.56% | 12.84% | — |
| FY 2020 Q1 | Mar 29, 2020 | — | 26.96% | — | 72.36% | 13.36% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | 27.96% | — | 73.28% | 14.51% | — |
| FY 2019 Q3 | Sep 29, 2019 | — | 32.78% | — | 85.63% | 15.7% | — |
| FY 2019 Q2 | Jun 30, 2019 | 26.2% | 32.56% | 88.25% | 89.37% | 16.02% | 18.5 pp |
| FY 2019 Q1 | Mar 31, 2019 | 25% | 34.82% | 72.89% | 94.83% | 14.9% | 17.3 pp |
| FY 2018 Q4 | Dec 31, 2018 | 30.83% | 37.06% | 26.6% | 101.77% | 17.77% | 23.1 pp |
| FY 2018 Q3 | Sep 30, 2018 | 26.58% | 36.47% | 28.81% | 99.3% | 15.15% | 18.9 pp |
| FY 2018 Q2 | Jul 1, 2018 | 26.62% | 36.66% | 28.05% | 108.28% | 16.13% | 18.9 pp |
| FY 2018 Q1 | Apr 1, 2018 | 26.45% | 43.07% | 27.64% | 111.88% | 15.91% | 18.7 pp |
| FY 2017 Q4 | Dec 31, 2017 | 24.87% | 35.95% | — | 92.05% | 14.14% | 17.2 pp |
| FY 2017 Q3 | Oct 1, 2017 | 20.5% | 32.91% | — | 83.63% | 12.5% | 12.8 pp |
| FY 2017 Q2 | Jul 2, 2017 | 20.34% | 34% | -279.96% | 84.99% | 12.29% | 12.6 pp |
| FY 2017 Q1 | Apr 2, 2017 | 20.23% | 32.07% | 38.05% | 74.06% | 11.56% | 12.5 pp |
| FY 2016 Q4 | Dec 31, 2016 | 23.81% | 35.77% | 51.2% | 80.73% | 13.25% | 16.1 pp |
| FY 2016 Q3 | Oct 2, 2016 | 25.01% | 36.53% | -10.28% | 93.17% | 14.48% | 17.3 pp |
| FY 2016 Q2 | Jul 3, 2016 | 24.1% | 39.46% | -61.82% | 80.76% | 13.77% | 16.4 pp |
| FY 2016 Q1 | Apr 3, 2016 | 17.15% | 30.32% | — | 48.87% | 9.27% | 9.4 pp |
| FY 2015 Q4 | Dec 31, 2015 | 18.3% | 30.43% | — | 41.82% | 9.35% | 10.6 pp |
| FY 2015 Q3 | Oct 4, 2015 | 27.28% | 49.17% | — | 41.28% | 8.7% | 19.6 pp |
| FY 2015 Q2 | Jul 5, 2015 | 31.67% | 49.12% | — | 42.37% | 10.74% | 24 pp |
| FY 2015 Q1 | Apr 5, 2015 | 43.92% | 54.87% | — | 58.45% | 15% | 36.2 pp |
| FY 2014 Q4 | Dec 31, 2014 | 43.83% | 51.19% | 44.98% | 55.36% | 15.42% | 36.1 pp |
| FY 2014 Q3 | Sep 28, 2014 | — | — | — | 57.61% | 15.11% | — |
| FY 2014 Q2 | Jun 29, 2014 | — | — | — | 63.21% | 17% | — |
| FY 2014 Q1 | Mar 30, 2014 | — | — | — | 61.43% | 16.18% | — |
| FY 2013 Q4 | Dec 31, 2013 | 37.44% | 37% | -100.56% | 62.12% | 16.23% | 29.7 pp |
| FY 2013 Q3 | Sep 29, 2013 | — | — | — | 67.6% | 15.98% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | — | — | — | 15.55% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | — | 14.91% | — |
| FY 2012 Q4 | Dec 31, 2012 | 51.76% | 52.36% | — | 70.1% | 14.42% | 44.1 pp |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | — | 14.73% | — |
| FY 2012 Q2 | Jul 1, 2012 | — | — | — | — | 14.99% | — |
| FY 2012 Q1 | Apr 1, 2012 | — | — | — | — | 15.11% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | 71.83% | 14.48% | — |
| FY 2011 Q3 | Oct 2, 2011 | — | — | — | — | 15.52% | — |
| FY 2011 Q2 | Jul 3, 2011 | — | — | — | 70.87% | 15.27% | — |
| FY 2011 Q1 | Apr 3, 2011 | — | — | — | 64.21% | 13.17% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | 62.83% | 12.83% | — |
| FY 2010 Q3 | Oct 3, 2010 | — | — | — | 70.38% | 13.08% | — |
| FY 2010 Q2 | Jul 4, 2010 | — | — | — | 86.61% | 13.58% | — |
| FY 2010 Q1 | Apr 4, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Oct 4, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jul 5, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · HSY, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.