Campbell's vs Hershey
Hershey reported revenue of $11.7 billion in fiscal 2025, 1.2 times Campbell's $9.7 billion in fiscal 2026. Campbell's revenue fell 5.0% in its latest year, and Hershey's grew 4.4%. Campbell's had an operating margin of 8.7%, against 12.3% at Hershey. Free cash flow was $678 million at Campbell's and $1.8 billion at Hershey. Their fiscal years end in different months (August 2 and December 31), so the periods don't line up exactly.
Side by side
| Campbell's | Hershey | |
|---|---|---|
| Latest fiscal year | FY2026, Aug 2, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $9.7B | $11.7B |
| Revenue growth | −5.0% | 4.4% |
| Revenue growth a year, last 5 years | 2.8% | 7.5% |
| Gross margin | 28.1% | 33.5% |
| Operating margin | 8.7% | 12.3% |
| Net margin | 4.1% | 7.5% |
| Free cash flow | $678M | $1.8B |
| Free cash flow margin | 7.0% | 15.6% |
| Return on capital | 6.2% | 11.5% |
| Net debt to EBITDA | 5.3x | 2.3x |
| Dividends and buybacks | $496M | $1.1B |
| Change in diluted share count | 0.0% | — |
| Last close | $20.63 | $168.23 |
| P/E at the last close | 15.7× | — |
| Insider trades, last 12 months | bought $6,435, sold $396,709 | bought $445,416, sold $287.8 million |
| Piotroski F-score | 5 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Campbell'sHershey
Operating margin
Percent of revenue
Campbell'sHershey
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Campbell'sHershey
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Campbell's and Hershey pages.