Hershey Co (HSY)
Operating profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 2,560,867 | 2,623,184 | 2,443,855 | 2,339,721 | 2,260,787 | 2,193,313 | 2,211,524 | 2,211,668 | 2,043,722 | 1,989,665 | 2,026,244 | 1,952,942 | 1,782,698 | 1,663,781 | 1,513,186 | 1,539,883 | 1,595,952 | 1,730,919 | 1,676,367 | 1,582,021 |
| Revenue (ttm) | US$ in thousands | 11,004,030 | 11,070,300 | 10,743,680 | 10,623,500 | 10,318,580 | 10,004,590 | 9,690,530 | 9,341,870 | 8,933,450 | 8,799,400 | 8,656,350 | 8,386,670 | 8,149,720 | 8,032,600 | 7,947,190 | 8,007,080 | 7,986,250 | 7,906,030 | 7,851,200 | 7,835,600 |
| Operating profit margin | 23.27% | 23.70% | 22.75% | 22.02% | 21.91% | 21.92% | 22.82% | 23.67% | 22.88% | 22.61% | 23.41% | 23.29% | 21.87% | 20.71% | 19.04% | 19.23% | 19.98% | 21.89% | 21.35% | 20.19% |
December 31, 2023 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $2,560,867K ÷ $11,004,030K
= 23.27%
The operating profit margin for Hershey Company has shown some variability over the past eight quarters. In Q4 2023, the operating profit margin was 22.94%, slightly lower than the previous quarter's 23.52%. This decline continued a trend of fluctuation in operating profit margins observed throughout the past year. Notably, Q1 and Q2 2023 saw margins of 21.81% and 22.53%, respectively, which were lower than the margins reported in the same quarters of the previous year.
While Q3 2022 saw a peak operating profit margin of 23.70%, the margins in Q4 2022 and Q1 2022 were lower, at 21.72% and 22.76%, respectively. Therefore, it appears that Hershey Company's operating profit margin has not shown consistent improvement or deterioration but has instead experienced fluctuations in performance over the examined period. This suggests that the company's operational efficiency and profitability may have been influenced by various internal and external factors, warranting further investigation into the underlying reasons for these fluctuations.
Peer comparison
Dec 31, 2023