HSY vs. PEP: Hershey vs. PepsiCo Stock Comparison

November 11, 2026

How do Hershey (HSY) and PepsiCo (PEP) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Hershey (HSY) and PepsiCo (PEP) both fall under the Food, Beverage & Tobacco industry group, but HSY is classified in Food Products while PEP is classified in Beverages.

Company profile comparison for Hershey (HSY) and PepsiCo (PEP)
Profile Item	HSY	PEP
Name	The Hershey Company Common Stock	PepsiCo, Inc.
Country/Region	United States	United States
GICS Sector	Consumer Staples	Consumer Staples
GICS Industry Group	Food, Beverage & Tobacco	Food, Beverage & Tobacco
GICS Industry	Food Products	Beverages
GICS Sub-Industry	Packaged Foods & Meats	Soft Drinks & Non-alcoholic Beverages
Market Capitalization	35.79 billion USD	192.61 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	March 17, 1980	June 1, 1972
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

HSY

PEP

GSPC

Hershey (HSY) vs. PepsiCo (PEP), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Hershey (HSY) and PepsiCo (PEP). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Hershey (HSY) and PepsiCo (PEP). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
Total Return (1Y)	3.76%	4.03%
Total Return (3Y, Annualized)	-0.13%	-1.40%
Total Return (5Y, Annualized)	2.04%	0.55%

Risk Profile

Drawdown History

HSY

PEP

GSPC

Hershey (HSY) vs. PepsiCo (PEP), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Hershey (HSY) and PepsiCo (PEP). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
Volatility (1Y, Annualized)	27.95%	21.68%
Beta (5Y)	0.07	0.30
Max Drawdown (5Y)	-45.25%	-30.32%
Avg. Volume (3M)	1.48M	8.86M

Risk-Adjusted Performance

Risk-Return Positioning

HSY and PEP are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
Sharpe Ratio (1Y)	-0.02	-0.01
Sortino Ratio (1Y)	-0.03	-0.02

Profitability

ROE (TTM)

Both Hershey (HSY) at 38.00% and PepsiCo (PEP) at 52.19% turn shareholders’ equity into profit at rates above their industry benchmark ranges for ROE. That is a strong capital-efficiency signal, though leverage and the equity base still matter.

HSY

Food, Beverage & Tobacco industry group

38.00%

HSY: 38.00%
Max: 32.02%
Q3: 16.61%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

PEP

Food, Beverage & Tobacco industry group

52.19%

PEP: 52.19%
Max: 32.02%
Q3: 16.61%
Median: 10.05%
Q1: 4.10%
Min: -10.50%

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their ROE against the Food, Beverage & Tobacco industry group benchmark.

Net Margin (TTM)

Hershey (HSY) at 14.63% retains a top-quartile share of revenue as profit, ahead of PepsiCo (PEP) at 11.09%, which keeps about the industry-typical share.

HSY

Food, Beverage & Tobacco industry group

14.63%

Max: 24.83%
HSY: 14.63%
Q3: 11.22%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

PEP

Food, Beverage & Tobacco industry group

11.09%

Max: 24.83%
Q3: 11.22%
PEP: 11.09%
Median: 5.94%
Q1: 2.05%
Min: -11.49%

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their net margin against the Food, Beverage & Tobacco industry group benchmark.

Operating Margin (TTM)

Hershey (HSY) at 25.55% operates in the top operating margin quartile, ahead of PepsiCo (PEP) at 16.88%, which runs around its industry’s norm.

HSY

Food, Beverage & Tobacco industry group

25.55%

Max: 34.91%
HSY: 25.55%
Q3: 17.57%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

PEP

Food, Beverage & Tobacco industry group

16.88%

Max: 34.91%
Q3: 17.57%
PEP: 16.88%
Median: 11.06%
Q1: 4.15%
Min: -15.06%

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their operating margin against the Food, Beverage & Tobacco industry group benchmark.

Profitability Metrics

Profitability metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
ROE (TTM)	38.00%	52.19%
ROA (TTM)	11.82%	9.02%
Net Margin (TTM)	14.63%	11.09%
Operating Margin (TTM)	25.55%	16.88%
Gross Margin (TTM)	41.95%	54.33%

Growth

Revenue Growth

Both Hershey (HSY) at 4.38% and PepsiCo (PEP) at 2.25% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their Revenue Growth across different time periods.

EPS Growth

PepsiCo (PEP) at -13.67% is around its peer norm for EPS growth, while Hershey (HSY) at -60.26% drops into the bottom quartile, signaling weaker earnings momentum.

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
Revenue Growth (YoY)	4.38%	2.25%
Revenue Growth (3Y CAGR)	3.92%	2.83%
EPS Growth (YoY)	-60.26%	-13.67%
EPS Growth (3Y CAGR)	-18.31%	-2.23%

Financial Strength

Current Ratio (MRQ)

Hershey (HSY) at 1.24 keeps current ratio within its industry’s typical mid-range, while PepsiCo (PEP) at 0.94 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for PEP.

HSY

Food, Beverage & Tobacco industry group

1.24

Max: 4.01
Q3: 2.35
Median: 1.53
HSY: 1.24
Q1: 1.02
Min: 0.33

PEP

Food, Beverage & Tobacco industry group

0.94

Max: 4.01
Q3: 2.35
Median: 1.53
Q1: 1.02
PEP: 0.94
Min: 0.33

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their current ratio against the Food, Beverage & Tobacco industry group benchmark.

Debt / Equity (MRQ)

Hershey (HSY) at 1.11 is near its industry mid-range for debt-to-equity ratio, while PepsiCo (PEP) at 2.31 sits above its benchmark range, pointing to a heavier debt load relative to equity.

HSY

Food, Beverage & Tobacco industry group

1.11

Max: 2.19
HSY: 1.11
Q3: 1.11
Median: 0.68
Q1: 0.33
Min: 0.00

PEP

Food, Beverage & Tobacco industry group

2.31

PEP: 2.31
Max: 2.19
Q3: 1.11
Median: 0.68
Q1: 0.33
Min: 0.00

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their debt-to-equity ratio against the Food, Beverage & Tobacco industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
Current Ratio (MRQ)	1.24	0.94
Debt / Equity (MRQ)	1.11	2.31
Net Debt / EBITDA	1.52	2.12

Dividends

Dividend Yield (TTM)

PepsiCo (PEP) at 4.07% delivers top-quartile income for its industry, while Hershey (HSY) at 3.23% pays a more typical yield — both are credible income propositions, PEP the richer one.

HSY

Food, Beverage & Tobacco industry group

3.23%

Max: 9.38%
Q3: 3.77%
HSY: 3.23%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

PEP

Food, Beverage & Tobacco industry group

4.07%

Max: 9.38%
PEP: 4.07%
Q3: 3.77%
Median: 1.76%
Q1: 0.00%
Min: 0.00%

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their dividend yield against the Food, Beverage & Tobacco industry group benchmark.

Dividend Payout Ratio (TTM)

Both Hershey (HSY) at 64.77% and PepsiCo (PEP) at 73.02% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

HSY

Food, Beverage & Tobacco industry group

64.77%

Max: 199.19%
Q3: 81.03%
HSY: 64.77%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

PEP

Food, Beverage & Tobacco industry group

73.02%

Max: 199.19%
Q3: 81.03%
PEP: 73.02%
Median: 41.52%
Q1: 0.00%
Min: 0.00%

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their payout ratio against the Food, Beverage & Tobacco industry group benchmark.

Dividend Metrics

Dividend metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
Dividend Yield (TTM)	3.23%	4.07%
Dividend Payout Ratio (TTM)	64.77%	73.02%

Valuation

P/E Ratio (TTM)

Both Hershey (HSY) at 20.14 and PepsiCo (PEP) at 17.78 land around their industries’ usual P/E ratio levels — neither is getting a clear earnings-multiple discount or premium versus peers.

HSY

Food, Beverage & Tobacco industry group

20.14

Max: 52.52
Q3: 30.78
HSY: 20.14
Median: 18.76
Q1: 12.77
Min: 4.72

PEP

Food, Beverage & Tobacco industry group

17.78

Max: 52.52
Q3: 30.78
Median: 18.76
PEP: 17.78
Q1: 12.77
Min: 4.72

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their P/E ratio against the Food, Beverage & Tobacco industry group benchmark.

P/S Ratio (TTM)

PepsiCo (PEP) at 1.96 is priced about in line with its industry on P/S ratio, while Hershey (HSY) at 2.92 sits in the pricier quartile — HSY costs more per dollar of sales.

HSY

Food, Beverage & Tobacco industry group

2.92

Max: 4.64
HSY: 2.92
Q3: 2.27
Median: 1.17
Q1: 0.52
Min: 0.00

PEP

Food, Beverage & Tobacco industry group

1.96

Max: 4.64
Q3: 2.27
PEP: 1.96
Median: 1.17
Q1: 0.52
Min: 0.00

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their P/S ratio against the Food, Beverage & Tobacco industry group benchmark.

P/B Ratio (MRQ)

Measured against book value, both Hershey (HSY) at 7.34 and PepsiCo (PEP) at 8.65 look expensive — each P/B ratio sits above its industry’s benchmark range.

HSY

Food, Beverage & Tobacco industry group

7.34

HSY: 7.34
Max: 6.35
Q3: 3.07
Median: 1.58
Q1: 0.82
Min: 0.00

PEP

Food, Beverage & Tobacco industry group

8.65

PEP: 8.65
Max: 6.35
Q3: 3.07
Median: 1.58
Q1: 0.82
Min: 0.00

Hershey (HSY) vs. PepsiCo (PEP): A comparison of their P/B ratio against the Food, Beverage & Tobacco industry group benchmark.

Valuation Metrics

Valuation metrics for Hershey (HSY) and PepsiCo (PEP)
Metric	HSY	PEP
P/E Ratio (TTM)	20.14	17.78
P/S Ratio (TTM)	2.92	1.96
P/B Ratio (MRQ)	7.34	8.65
Free Cash Flow Yield (TTM)	4.67%	4.70%