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The Hershey Company cash flow statement

In fiscal 2025, The Hershey Company's operations generated $2.28bn of cash; it spent $455m on capital projects, leaving free cash flow of $1.82bn. It returned $1.09bn in dividends.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Cash from operations1,0669015881,0951,1918441,2561,0131,2501,6001,7641,7002,0832,3282,3232,5322,2772,565
Depreciation and amortisation182197216210201212245302262295292295315379420455504538
Stock-based pay545043505454525551495258676681446572
Capital spending126180324259324371357269258329318442496519771606455443
Free cash flow9397222648368684749007449921,2711,4461,2581,5871,8081,5521,9261,8232,122
Free cash flow after stock pay8866722207868144208486899411,2221,3941,2001,5201,7421,4711,8811,7572,050
Dividends paid2632833043413944404764995265636106416867758891,0851,0851,131
Share buybacks91693855113065775835933002485272114583892654940439

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from The Hershey Company's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to The Hershey Company.