The Hershey CoMEX:HSY 74 Piotroski F-Score is 4 as of Jun. 26, 2026, which is 33% below its 10-year median of 6.00. GuruFocus rates MEX:HSY with a GF Score™ of 74/100 and a GF Value™ of MXN3,699.50 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,911 Consumer Packaged Goods companies, The Hershey Co ranks worse than 66.93% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
The Hershey Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for The Hershey Co's Piotroski F-Score or its related term are showing as below:
MEX:HSY'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 6 Max: 8
Current: 4
During the past 13 years, the highest Piotroski F-Score of The Hershey Co was 8. The lowest was 4. And the median was 6.
The Hershey Co (MEX:HSY) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
The Hershey Co Piotroski F-Score Related Terms
The Hershey Co Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for The Hershey Co's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:HSY vs TR, MDLZ, SOWG: Piotroski F-Score Comparison
For the Confectioners subindustry, The Hershey Co's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
The Hershey Co Piotroski F-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, The Hershey Co's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where The Hershey Co's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 1180.949 + 5068.869 + 5762.13 + 7846.118 = MXN19,858 Mil. Cash Flow from Operations was 2112.938 + 15444.275 + 16683.235 + 8453.838 = MXN42,694 Mil. Revenue was 49233.048 + 58360.568 + 55655.997 + 55976.512 = MXN219,226 Mil. Gross Profit was 14993.184 + 19029.062 + 20613.231 + 22049.141 = MXN76,685 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(285755.31 + 256938.311 + 249103.707 + 247421.672 + 249595.884) / 5 = MXN257762.9768 Mil. Total Assets at the begining of this year (Mar25) was MXN285,755 Mil. Long-Term Debt & Capital Lease Obligation was MXN89,405 Mil. Total Current Assets was MXN67,956 Mil. Total Current Liabilities was MXN54,815 Mil.
Net Income was 3313.997 + 8787.801 + 16613.463 + 4586.79 = MXN33,302 Mil.
Revenue was 38004.687 + 58824.653 + 60221.668 + 57393.823 = MXN214,445 Mil. Gross Profit was 15274.294 + 24272.607 + 32500.334 + 19318.003 = MXN91,365 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(205623.517 + 227456.427 + 248519.349 + 270015.849 + 285755.31) / 5 = MXN247474.0904 Mil. Total Assets at the begining of last year (Mar24) was MXN205,624 Mil. Long-Term Debt & Capital Lease Obligation was MXN112,456 Mil. Total Current Assets was MXN98,284 Mil. Total Current Liabilities was MXN61,705 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
The Hershey Co's current Net Income (TTM) was 19,858.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
The Hershey Co's return on assets of this year was 0.06949325. The Hershey Co's return on assets of last year was 0.16195643.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
The Hershey Co's gearing of this year was 0.34684955. The Hershey Co's gearing of last year was 0.45441725.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
The Hershey Co's current ratio of this year was 1.23973515. The Hershey Co's current ratio of last year was 1.5928067.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
The Hershey Co's number of shares in issue this year was 203.931. The Hershey Co's number of shares in issue last year was 203.141.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
The Hershey Co's gross margin of this year was 0.3497969. The Hershey Co's gross margin of last year was 0.42605475.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
The Hershey Co's asset turnover of this year was 0.76718128. The Hershey Co's asset turnover of last year was 1.04290032.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
=
Que. 1
+
Que. 2
+
Que. 3
+
Que. 4
+
Que. 5
+
Que. 6
+
Que. 7
+
Que. 8
+
Que. 9
=
1
+
1
+
0
+
1
+
1
+
0
+
0
+
0
+
0
=
4
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
The Hershey Co has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The Hershey Co (MEX:HSY) has a Piotroski F-Score of 4 as of Jun. 26, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on The Hershey Co and its competitors. This is 33% below median its historical median of 6.00. Over the past decade, The Hershey Co's Piotroski F-Score has ranged from 4.00 to 8.00. According to the industry distribution chart, The Hershey Co ranks #1279 out of 1911 companies in the Consumer Packaged Goods industry, placing it in the top 66.9%.
Is The Hershey Co's Piotroski F-Score too high?
The Hershey Co's current Piotroski F-Score of 4 is 33% below median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 8.00. The Consumer Packaged Goods industry median Piotroski F-Score is 5.00. The Hershey Co's value of 4 is 20% below this industry median. Based on the distribution chart, The Hershey Co ranks #1279 out of 1911 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, The Hershey Co has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Hershey Co's Piotroski F-Score compare to TR and MDLZ?
According to the Consumer Packaged Goods industry distribution chart, The Hershey Co ranks #1279 out of 1911 companies for Piotroski F-Score. This places The Hershey Co in the lower half of its industry. The industry median Piotroski F-Score is 5.00. The Hershey Co's value of 4 is 20% below this benchmark. Historically, The Hershey Co's own Piotroski F-Score has ranged from 4.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.00, The Hershey Co has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Consumer Packaged Goods company?
The median Piotroski F-Score among Consumer Packaged Goods companies is 5.00, based on 1,911 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. The Hershey Co's current Piotroski F-Score of 4 is 20% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on The Hershey Co and its competitors. For the Consumer Packaged Goods industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Hershey Co's current Piotroski F-Score is 4, which is 33% below median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Hershey Co stock overvalued right now?
Based on GuruFocus' analysis, The Hershey Co (MEX:HSY) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN3,699.50, compared to a current price of MXN3,090.00 — trading 16.5% below its estimated fair value. The current Piotroski F-Score is 4, which is 33% below median its 10-year median of 6.00 and 20% below the Consumer Packaged Goods industry median of 5.00. The Hershey Co's overall GF Score™ is 74/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For The Hershey Co (MEX:HSY), the current Piotroski F-Score is 4 as of Jun. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is The Hershey Co (MEX:HSY) Overvalued in 2026?
Based on GuruFocus' analysis, The Hershey Co stock appears to be undervalued.
The current stock price of MXN3,090.00 is trading 16.5% below its estimated GF Value™ of MXN3,699.50.
GuruFocus considers The Hershey Co to be Modestly Undervalued.
Key valuation signals for MEX:HSY:
Piotroski F-Score: 4 (33% below median its 10-year median of 6.00)
GF Value™: MXN3,699.50 vs. price of MXN3,090.00 (16.5% below fair value)
Industry Position: 20% below the Consumer Packaged Goods median (#1279 of 1911)
No single metric tells the full story. See the MEX:HSY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hershey is a leading US confectionery manufacturer (around a $55 billion market, according to Euromonitor), controlling 35% of the domestic chocolate aisle. Beyond its namesake label, the firm's portfolio has expanded over the last 85 years and now comprises 100 brands, including Reese's, Kit Kat, Kisses, and Ice Breakers. Hershey's products are sold in about 80 countries, albeit with just a high-single-digit percentage of sales coming from markets outside the US, including Brazil, India, and Mexico. The firm has sought inorganic opportunities to extend its reach beyond its core confectionery business, adding Amplify Snack Brands and its Skinny Pop ready-to-eat popcorn to its portfolio, as well as Pirate Brands, Dot's Pretzels, and LesserEvil over the past few years.
74GF Score
Get the complete analysis for MEX:HSY
Piotroski F-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:HSY has been successfully added to your 
