Is the Confectioners sector outperforming S&P 500?
Confectioners has underperformed S&P 500 by 14.4% over 52 weeks and 4.4% over 13 weeks. 0 of 3 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 3 beat the sector itself.
20-quarter listed-company comparison
Confectioners Stocks
Confectioners: Mondelez International, Inc. owns the largest revenue base; The Hershey Company has the fastest current growth.
The industry itself · before any single company
How has Confectioners moved against S&P 500?
The line below covers 5.2 years. Over the most recent two of them this industry is 34% behind S&P 500. Earnings across its companies fell 20% on average over the last four reported quarters.
BASING · 1y −18.9%⚠Price down, no fundamental support0 of 3 companies ahead of S&P 500 by 5% or more over three months
RS — · 1/3 >200d (−1) · 0/3 lead (+0) · EPS 1/3↑
Confectioners, equal-weighted, based at 200
S&P 500, same base, same start
trailing 12-month earnings per share rising
falling
Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 3 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Confectioners outperforming S&P 500?
Confectioners has underperformed S&P 500 by 14.4% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 4.4%. 0 of 3 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Mondelez International, Inc. is the strongest against the sector itself at +3.8%.
-4.4%Sector vs S&P 500 · 13 weeks
-14.4%Sector vs S&P 500 · 52 weeks
0/3Stocks leading S&P 500
1/3Stocks leading sector
Sector metric: — as of latest available · unclassified · direction unavailable.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
Confectioners has underperformed S&P 500 by 14.4% over 52 weeks and 4.4% over 13 weeks. 0 of 3 covered companies beat the S&P 500 on Mansfield relative strength, while 1 of 3 beat the sector itself. Mondelez International, Inc. leads with revenue of $39,304 million, based on 3 of 3 comparable companies through Mar 2026.
Which Confectioners company is largest by revenue?
Mondelez International, Inc. leads with revenue of $39,304 million, based on 3 of 3 comparable companies through Mar 2026.
Which Confectioners company is growing fastest?
The Hershey Company has the fastest current revenue growth at 11.5%, across 3 of 3 comparable companies.
Which Confectioners company has the strongest 4-Factor Sector Score?
Mondelez International, Inc. ranks first at 46/100 with 83.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Confectioners company reports the most CAPEX?
Mondelez International, Inc. reports the largest latest CAPEX at $312 million, with 3 of 3 companies comparable.
Which Confectioners company has the least gross debt?
Tootsie Roll Industries, Inc. has the lowest comparable gross debt at $14 million. Mondelez International, Inc. has the highest at $21,622 million.
Which Confectioners company has the lowest comparable PEG?
Mondelez International, Inc. has the lowest comparable Guarded PEG at 2.28, among 2 of 3 companies that pass the metric’s comparability rules.
How much history does this Confectioners comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
3
complete canonical membership
Combined market value
$120.3B
Mondelez International, Inc.
Revenue growing
3/3
positive TTM year-on-year growth
Beating S&P 500
0/3
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Mondelez International, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 83.2% evidence confidence.
Mondelez International, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Mondelez International, Inc. · MDLZ
46.0/100 · Mixed-negative evidence · 83% evidence
Exact sum: 13.9 + 9.3 + 7.5 + 15.3 = 46
Decision use: Price leads the evidence: RS versus the benchmark is -2.2%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
13.9/35Growth & earnings
Revenue 7.8% · PAT -23.8% · OPM change 0.7 pp
95% evidence
9.3/25Capital efficiency
ROCE 1.7% · debt/equity 0.84×
80% evidence
7.5/20Valuation
P/E 28.7× · PEG 2.28
50% evidence
15.3/20Relative strength
RS sector 3.8% · RS bench -2.2% · 1Y -2.3%
100% evidence
2. The Hershey Company · HSY
45.3/100 · Mixed-negative evidence · 73% evidence
Exact sum: 20.5 + 10.7 + 10 + 4.1 = 45.3
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20.5/35Growth & earnings
Revenue 11.5% · PAT -33.6% · OPM change 7.4 pp
95% evidence
10.7/25Capital efficiency
ROCE 5.9% · debt/equity 1.13×
80% evidence
10.0/20Valuation
P/E 39.8× · PEG —
0% evidence
4.1/20Relative strength
RS sector -5% · RS bench -10.8% · 1Y -3%
100% evidence
3. Tootsie Roll Industries, Inc. · TR
37.5/100 · Mixed-negative evidence · 83% evidence
Exact sum: 14 + 13 + 6.9 + 3.6 = 37.5
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14.0/35Growth & earnings
Revenue 2.5% · PAT 12.2% · OPM change -0.2 pp
95% evidence
13.0/25Capital efficiency
ROCE 2.1% · debt/equity 0.01×
80% evidence
6.9/20Valuation
P/E 31.2× · PEG 2.46
50% evidence
3.6/20Relative strength
RS sector -1.1% · RS bench -7% · 1Y 7.3%
100% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
Mondelez International, Inc. has the highest Revenue among the 3 Confectioners companies compared here, at $39,304 million. The Hershey Company is next at $11,991 million. The Hershey Company has the highest Revenue growth at 11.5%, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Mondelez International, Inc. is the scale leader at $39,304 million, 227.8% ahead of The Hershey Company. The Hershey Company's growth is 11.5% from a $11,991 million base, with 17 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderMondelez International, Inc. · $39,304 million
Gap227.8% versus #2 · The Hershey Company
Persistence7/8 recent comparable periods
Coverage3/3 companies · 57 observations
Investor read: Mondelez International, Inc. is the scale benchmark; The Hershey Company is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: Mondelez International, Inc.'s growth falls below The Hershey Company's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Mondelez International, Inc. MDLZ$39.3B
2The Hershey Company HSY$12.0B
3Tootsie Roll Industries, Inc. TR$736M
Revenue growthfastest growers
1The Hershey Company HSY12%
2Mondelez International, Inc. MDLZ7.8%
3Tootsie Roll Industries, Inc. TR2.5%
Revenue · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| Mondelez International, Inc. MDLZ | $10.1B | 8.2% | Mar 2026 |
| The Hershey Company HSY | $3.1B | 11% | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | $152M | 2.7% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Mondelez International, Inc. · MDLZ
$6.6B
$7.2B
$7.7B
$7.8B
$7.3B
$7.8B
$8.7B
$9.2B
$8.5B
$9.0B
$9.3B
$9.3B
$8.3B
$9.2B
$9.6B
$9.3B
$9.0B
$9.7B
$10.5B
$10.1B
The Hershey Company · HSY
—
$2.0B
$2.4B
—
$2.7B
$2.4B
$2.7B
—
$3.0B
$2.5B
$3.0B
$3.3B
$2.1B
$3.0B
$2.9B
$2.8B
$2.6B
$3.2B
$3.1B
$3.1B
Tootsie Roll Industries, Inc. · TR
$115M
$184M
$168M
$141M
$143M
$213M
$190M
$162M
$160M
$250M
$197M
$153M
$151M
$226M
$193M
$148M
$155M
$233M
$196M
$152M
Revenue growth · reported quarter history
Mondelez International, Inc. · MDLZ
—
—
—
—
9.5%
8.1%
14%
18%
17%
16%
7.1%
1.4%
-1.9%
1.9%
3.1%
0.3%
7.7%
5.9%
9.3%
8.2%
The Hershey Company · HSY
—
—
—
—
—
19%
16%
—
12%
4.9%
11%
—
-31%
20%
-4.7%
-14%
26%
6.5%
7.0%
11%
Tootsie Roll Industries, Inc. · TR
—
—
—
—
24%
16%
13%
15%
12%
17%
3.7%
-5.6%
-5.6%
-9.6%
-2.0%
-3.3%
2.7%
3.1%
1.6%
2.7%
02 · compare level, then change
Operating Economics & Margin Trend
The Hershey Company has the highest OPM among the 3 Confectioners companies compared here, at 20.6%. Tootsie Roll Industries, Inc. is next at 15.3%. The same company also holds the highest Margin change, at +7.4 percentage points. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: The Hershey Company leads both opm at 20.6% and margin change at +7.4 percentage points.
LeaderThe Hershey Company · 20.6%
Gap34.6% versus #2 · Tootsie Roll Industries, Inc.
Persistence2/8 recent comparable periods
Coverage3/3 companies · 57 observations
Investor read: The Hershey Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1The Hershey Company HSY21%
2Tootsie Roll Industries, Inc. TR15%
3Mondelez International, Inc. MDLZ8.0%
Margin changefastest expanders
1The Hershey Company HSY+7.4 pp
2Mondelez International, Inc. MDLZ+0.7 pp
3Tootsie Roll Industries, Inc. TR−0.2 pp
Operating margin · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| The Hershey Company HSY | 21% | +7.4 pp | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | 15% | −0.2 pp | Mar 2026 |
| Mondelez International, Inc. MDLZ | 8.0% | +0.7 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Mondelez International, Inc. · MDLZ
13%
18%
16%
14%
13%
8.7%
9.6%
16%
17%
15%
13%
29%
10%
13%
17%
7.3%
13%
7.6%
9.1%
8.0%
The Hershey Company · HSY
—
23%
24%
—
27%
19%
20%
—
27%
23%
24%
33%
14%
21%
33%
13%
7.4%
14%
14%
21%
Tootsie Roll Industries, Inc. · TR
6.0%
16%
12%
15%
19%
17%
14%
7.9%
9.2%
18%
14%
7.3%
10%
16%
20%
16%
7.8%
14%
17%
15%
Margin change · reported quarter history
Mondelez International, Inc. · MDLZ
—
—
—
—
−0.4 pp
−9.3 pp
−6.1 pp
+2.3 pp
+4.1 pp
+6.6 pp
+3.2 pp
+13.0 pp
−6.6 pp
−2.8 pp
+4.0 pp
−22.1 pp
+2.8 pp
−4.9 pp
−7.7 pp
+0.7 pp
The Hershey Company · HSY
—
—
—
—
—
−3.8 pp
−4.0 pp
—
−0.2 pp
+3.3 pp
+3.9 pp
—
−12.9 pp
−2.0 pp
+8.2 pp
−19.3 pp
−6.5 pp
−6.8 pp
−18.1 pp
+7.4 pp
Tootsie Roll Industries, Inc. · TR
—
—
—
—
+12.8 pp
+0.6 pp
+2.4 pp
−6.9 pp
−9.6 pp
+1.7 pp
0.0 pp
−0.6 pp
+1.0 pp
−2.8 pp
+5.6 pp
+8.2 pp
−2.4 pp
−1.7 pp
−3.0 pp
−0.2 pp
03 · compare level, then change
Profit Scale & Acceleration
Mondelez International, Inc. has the highest Net profit among the 3 Confectioners companies compared here, at $2,388 million. The Hershey Company is next at $1,094 million. Tootsie Roll Industries, Inc. has the highest Profit growth at 12.2%, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Mondelez International, Inc. leads with $2,388 million of TTM profit, 118.3% above The Hershey Company. Tootsie Roll Industries, Inc. shows 12.2% growth from a $101 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderMondelez International, Inc. · $2,388 million
Gap118.3% versus #2 · The Hershey Company
Persistence3/8 recent comparable periods
Coverage3/3 companies · 57 observations
Investor read: Mondelez International, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Mondelez International, Inc. MDLZ$2.4B
2The Hershey Company HSY$1.1B
3Tootsie Roll Industries, Inc. TR$101M
Profit growthfastest growers
1Tootsie Roll Industries, Inc. TR12%
2Mondelez International, Inc. MDLZ-24%
3The Hershey Company HSY-34%
Net profit · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| Mondelez International, Inc. MDLZ | $547M | 40% | Mar 2026 |
| The Hershey Company HSY | $435M | 94% | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | $18M | 0.0% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Mondelez International, Inc. · MDLZ
$470M
$907M
$905M
$749M
$658M
$454M
$502M
$1.6B
$893M
$977M
$906M
$2.1B
$555M
$806M
$1.4B
$391M
$625M
$558M
$658M
$547M
The Hershey Company · HSY
—
$301M
$445M
—
$533M
$316M
$399M
—
$587M
$407M
$519M
$797M
$181M
$446M
$797M
$224M
$63M
$276M
$320M
$435M
Tootsie Roll Industries, Inc. · TR
$10M
$25M
$20M
$12M
$12M
$27M
$25M
$13M
$15M
$34M
$29M
$16M
$16M
$33M
$23M
$18M
$18M
$36M
$29M
$18M
Profit growth · reported quarter history
Mondelez International, Inc. · MDLZ
—
—
—
—
40%
-50%
-45%
109%
36%
115%
80%
31%
-38%
-18%
52%
-81%
13%
-31%
-52%
40%
The Hershey Company · HSY
—
—
—
—
—
5.0%
-10%
—
10%
29%
30%
—
-69%
9.6%
54%
-72%
-65%
-38%
-60%
94%
Tootsie Roll Industries, Inc. · TR
—
—
—
—
20%
8.0%
25%
8.3%
25%
26%
16%
23%
6.7%
-2.9%
-21%
13%
13%
9.1%
26%
0.0%
04 · compare level, then change
Capacity Spending & Returns On It
Mondelez International, Inc. has the highest CAPEX among the 3 Confectioners companies compared here, at $312 million. The Hershey Company is next at $115 million. Tootsie Roll Industries, Inc. has the highest CAPEX intensity at 5.3%, so level and change sit with different companies. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Mondelez International, Inc. reports $312 million of CAPEX; Tootsie Roll Industries, Inc. has the highest covered intensity at 5.3%. Coverage is only 3 of 3 companies and 57 reported observations, so this is partial evidence—not a complete sector rank.
LeaderMondelez International, Inc. · $312 million
Gap171.3% versus #2 · The Hershey Company
Persistence8/8 recent comparable periods
Coverage3/3 companies · 57 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Mondelez International, Inc. MDLZ$312M
2The Hershey Company HSY$115M
3Tootsie Roll Industries, Inc. TR$8M
CAPEX intensityhighest reinvestment intensity
1Tootsie Roll Industries, Inc. TR5.3%
2The Hershey Company HSY3.7%
3Mondelez International, Inc. MDLZ3.1%
Capital expenditure · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| Mondelez International, Inc. MDLZ | $312M | 3.1% | Mar 2026 |
| The Hershey Company HSY | $115M | 3.7% | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | $8M | 5.3% | Mar 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Mondelez International, Inc. · MDLZ
$194M
$229M
$326M
$167M
$218M
$236M
$285M
$223M
$272M
$285M
$332M
$299M
$367M
$316M
$405M
$277M
$305M
$299M
$398M
$312M
The Hershey Company · HSY
—
$113M
$120M
—
$141M
$100M
$119M
—
$176M
$154M
$218M
$213M
$130M
$128M
$135M
$146M
$85M
$86M
$138M
$115M
Tootsie Roll Industries, Inc. · TR
$9M
$11M
$8M
$6M
$4M
$7M
$6M
$5M
$6M
$9M
$7M
$4M
$4M
$5M
$4M
$3M
$8M
$12M
$12M
$8M
CAPEX intensity · reported quarter history
Mondelez International, Inc. · MDLZ
2.9%
3.2%
4.3%
2.2%
3.0%
3.0%
3.3%
2.4%
3.2%
3.2%
3.6%
3.2%
4.4%
3.4%
4.2%
3.0%
3.4%
3.1%
3.8%
3.1%
The Hershey Company · HSY
—
5.7%
5.1%
—
5.3%
4.2%
4.4%
—
5.9%
6.2%
7.2%
6.5%
6.3%
4.3%
4.7%
5.2%
3.3%
2.7%
4.5%
3.7%
Tootsie Roll Industries, Inc. · TR
7.8%
6.0%
4.8%
4.3%
2.8%
3.3%
3.2%
3.1%
3.8%
3.6%
3.6%
2.6%
2.6%
2.2%
2.1%
2.0%
5.2%
5.2%
6.1%
5.3%
Annual capital allocation · 5-year view
3/3 capacity base · 3/3 OCF · 3/3 CAPEX · 3/3 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Mondelez International, Inc. · MDLZ
$9.3B
$9.7B
$10.4B
$10.2B
$11.4B
The Hershey Company · HSY
$2.6B
$2.8B
$3.3B
$3.5B
$3.5B
Tootsie Roll Industries, Inc. · TR
$216M
$217M
$230M
$226M
$243M
Operating cash flow · fiscal-year history
Mondelez International, Inc. · MDLZ
$4.1B
$3.9B
$4.7B
$4.9B
$4.5B
The Hershey Company · HSY
$2.1B
$2.3B
$2.3B
$2.5B
$2.3B
Tootsie Roll Industries, Inc. · TR
$85M
$72M
$95M
$139M
$131M
CAPEX · reported cash flow · fiscal-year history
Mondelez International, Inc. · MDLZ
$965M
$906M
$1.1B
$1.4B
$1.3B
The Hershey Company · HSY
$496M
$519M
$771M
$606M
$455M
Tootsie Roll Industries, Inc. · TR
$31M
$23M
$27M
$18M
$34M
Free cash flow · fiscal-year history
Mondelez International, Inc. · MDLZ
$3.2B
$3.0B
$3.6B
$3.5B
$3.2B
The Hershey Company · HSY
$1.6B
$1.8B
$1.6B
$1.9B
$1.8B
Tootsie Roll Industries, Inc. · TR
$54M
$49M
$68M
$121M
$96M
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Tootsie Roll Industries, Inc. has the lowest Gross debt among the 3 Confectioners companies compared here, at $14 million. The Hershey Company is next at $5,358 million. The same company also holds the lowest Net debt, at $156 million net cash. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Tootsie Roll Industries, Inc. has the clearest covered balance-sheet capacity with $156 million net cash and gross debt of $14 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderTootsie Roll Industries, Inc. · $14 million
Gap99.7% versus #2 · The Hershey Company
Persistence8/8 recent comparable periods
Coverage3/3 companies · 57 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Tootsie Roll Industries, Inc. TR$14M
2The Hershey Company HSY$5.4B
3Mondelez International, Inc. MDLZ$21.6B
Net debtlowest net debt
1Tootsie Roll Industries, Inc. TR$-156M
2The Hershey Company HSY$4.5B
3Mondelez International, Inc. MDLZ$20.1B
Debt and balance-sheet capacity · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| Mondelez International, Inc. MDLZ | $21.6B | $20.1B | Mar 2026 |
| The Hershey Company HSY | $5.4B | $4.5B | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | $14M | $-156M | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Mondelez International, Inc. · MDLZ
$19.5B
$20.5B
$20.0B
$20.2B
$19.7B
$22.2B
$23.4B
$22.7B
$21.7B
$20.5B
$19.9B
$19.6B
$20.2B
$20.4B
$18.4B
$20.2B
$21.5B
$21.9B
$21.8B
$21.6B
The Hershey Company · HSY
—
$4.3B
$4.5B
—
$5.0B
$5.0B
$4.9B
—
$4.7B
$5.0B
$4.9B
$5.4B
$5.4B
$5.3B
$5.1B
$5.9B
$5.6B
$5.4B
$5.4B
$5.4B
Tootsie Roll Industries, Inc. · TR
$15M
$16M
$16M
$16M
$16M
$13M
$13M
$13M
$15M
$15M
$16M
$16M
$15M
$15M
$15M
$15M
$14M
$14M
$14M
$14M
Net debt · reported quarter history
Mondelez International, Inc. · MDLZ
$17.6B
$17.1B
$16.4B
$18.3B
$17.8B
$20.0B
$21.5B
$20.8B
$20.2B
$18.8B
$18.1B
$18.2B
$18.8B
$18.9B
$17.0B
$18.6B
$20.0B
$20.6B
$19.7B
$20.1B
The Hershey Company · HSY
—
$3.9B
$3.8B
—
$4.6B
$4.7B
$4.6B
—
$4.2B
$4.5B
$4.4B
$4.9B
$4.9B
$4.7B
$4.4B
$4.4B
$4.7B
$4.2B
$4.5B
$4.5B
Tootsie Roll Industries, Inc. · TR
$-124M
$-100M
$-130M
$-130M
$-107M
$-133M
$-136M
$-111M
$-94M
$-120M
$-155M
$-143M
$-116M
$-148M
$-180M
$-162M
$-157M
$-106M
$-163M
$-156M
06 · compare level, then change
Return On Capital Employed
The Hershey Company has the highest ROCE among the 3 Confectioners companies compared here, at 5.9%. Tootsie Roll Industries, Inc. is next at 2.1%. The same company also holds the highest ROCE change, at +2.2 percentage points. 3 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: The Hershey Company leads ROCE at 5.9%, 3.8 percentage points above Tootsie Roll Industries, Inc.. The Hershey Company has the strongest latest improvement at +2.2 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderThe Hershey Company · 5.9%
Gap181% versus #2 · Tootsie Roll Industries, Inc.
Persistence2/8 recent comparable periods
Coverage3/3 companies · 54 observations
Investor read: The Hershey Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1The Hershey Company HSY5.9%
2Tootsie Roll Industries, Inc. TR2.1%
3Mondelez International, Inc. MDLZ1.7%
ROCE changefastest improvers
1The Hershey Company HSY+2.2 pp
2Mondelez International, Inc. MDLZ+0.3 pp
3Tootsie Roll Industries, Inc. TR−0.1 pp
Return on capital · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| The Hershey Company HSY | 5.9% | +2.2 pp | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | 2.1% | −0.1 pp | Mar 2026 |
| Mondelez International, Inc. MDLZ | 1.7% | +0.3 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Mondelez International, Inc. · MDLZ
—
2.4%
2.3%
2.1%
1.8%
1.3%
1.6%
2.8%
2.7%
2.6%
2.2%
5.1%
1.6%
2.2%
3.2%
1.4%
2.3%
1.5%
1.9%
1.7%
The Hershey Company · HSY
—
—
7.9%
—
9.4%
6.3%
7.4%
—
10%
7.0%
9.0%
13%
3.3%
7.0%
11%
3.7%
2.0%
4.6%
4.5%
5.9%
Tootsie Roll Industries, Inc. · TR
—
3.2%
2.2%
2.3%
2.9%
3.9%
2.9%
1.4%
1.6%
4.9%
3.0%
1.1%
1.6%
3.5%
3.8%
2.2%
1.2%
3.0%
3.0%
2.1%
ROCE change · reported quarter history
Mondelez International, Inc. · MDLZ
—
—
—
—
—
−1.1 pp
−0.7 pp
+0.7 pp
+0.9 pp
+1.3 pp
+0.6 pp
+2.3 pp
−1.1 pp
−0.4 pp
+1.0 pp
−3.7 pp
+0.7 pp
−0.7 pp
−1.3 pp
+0.3 pp
The Hershey Company · HSY
—
—
—
—
—
—
−0.5 pp
—
+0.7 pp
+0.7 pp
+1.6 pp
—
−6.8 pp
0.0 pp
+1.5 pp
−8.9 pp
−1.3 pp
−2.4 pp
−6.0 pp
+2.2 pp
Tootsie Roll Industries, Inc. · TR
—
—
—
—
—
+0.7 pp
+0.7 pp
−0.9 pp
−1.3 pp
+1.0 pp
+0.1 pp
−0.3 pp
0.0 pp
−1.4 pp
+0.8 pp
+1.1 pp
−0.4 pp
−0.5 pp
−0.8 pp
−0.1 pp
07 · compare level, then change
Valuation Against Growth & Quality
Mondelez International, Inc. has the lowest Guarded PEG among the 3 Confectioners companies compared here, at 2.28×. Tootsie Roll Industries, Inc. is next at 2.46×. The same company also holds the lowest P/E, at 28.7×. 2 of 3 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Mondelez International, Inc. has the lowest comparable Guarded PEG at 2.28×, 7.3% below Tootsie Roll Industries, Inc.. Only 2 of 3 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderMondelez International, Inc. · 2.28×
Gap7.3% versus #2 · Tootsie Roll Industries, Inc.
Persistence0/8 recent comparable periods
Coverage2/3 companies · 12 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Mondelez International, Inc. MDLZ2.3
2Tootsie Roll Industries, Inc. TR2.5
P/Elowest P/E
1Mondelez International, Inc. MDLZ28.7
2Tootsie Roll Industries, Inc. TR31.2
3The Hershey Company HSY39.8
Valuation · company comparison
2/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Tootsie Roll Industries, Inc. TR | 2.5 | 31.3 | Mar 2026 |
| Mondelez International, Inc. MDLZ | 2.3 | 28.7 | Mar 2026 |
| The Hershey Company HSY | — | 39.8 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Mondelez International, Inc. · MDLZ
—
—
—
—
—
—
—
—
2.6
0.4
—
2.3
—
—
—
—
—
—
—
—
Tootsie Roll Industries, Inc. · TR
—
—
—
—
—
—
—
2.5
1.9
0.9
0.9
0.8
0.9
2.0
—
—
—
—
1.8
2.5
P/E · reported quarter history
Mondelez International, Inc. · MDLZ
—
18.5
21.8
21.0
22.5
24.4
34.0
24.3
24.2
20.7
20.0
22.2
22.5
26.1
17.5
25.2
24.7
23.4
28.5
28.7
The Hershey Company · HSY
—
—
24.8
—
28.1
28.1
28.8
—
30.9
28.7
21.6
19.3
20.4
22.3
15.5
20.9
22.2
28.1
41.9
39.8
Tootsie Roll Industries, Inc. · TR
—
36.5
37.5
36.3
35.4
32.7
38.6
41.0
31.3
23.8
24.5
23.6
22.3
22.9
26.6
25.9
26.8
32.6
26.7
31.3
08 · compare level, then change
Enterprise Value & Book Value
Mondelez International, Inc. has the lowest EV/EBITDA among the 3 Confectioners companies compared here, at 18.6×. The Hershey Company is next at 21.4×. The same company also holds the lowest P/BV, at 2.87×. 3 of 3 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 19 reported observations across the 20-quarter window.
What the numbers say: Mondelez International, Inc. leads both ev/ebitda at 18.6× and p/bv at 2.87×.
LeaderMondelez International, Inc. · 18.6×
Gap13.1% versus #2 · The Hershey Company
Persistence0/8 recent comparable periods
Coverage3/3 companies · 54 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1Mondelez International, Inc. MDLZ18.6
2The Hershey Company HSY21.4
3Tootsie Roll Industries, Inc. TR24.6
P/BVlowest P/BV
1Mondelez International, Inc. MDLZ2.9
2Tootsie Roll Industries, Inc. TR3.3
3The Hershey Company HSY9.2
Enterprise and book valuation · company comparison
3/3 level · 3/3 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Tootsie Roll Industries, Inc. TR | 24.6 | 3.3 | Mar 2026 |
| The Hershey Company HSY | 21.5 | 9.2 | Mar 2026 |
| Mondelez International, Inc. MDLZ | 18.6 | 2.9 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Mondelez International, Inc. · MDLZ
—
17.1
18.9
18.9
18.3
19.0
24.3
22.8
21.4
17.9
17.3
14.1
14.4
16.3
12.5
19.0
18.1
18.3
18.1
18.6
The Hershey Company · HSY
—
—
17.0
—
19.5
19.5
19.5
—
20.6
19.6
15.0
13.6
14.1
15.3
11.5
14.5
14.9
17.4
21.3
21.5
Tootsie Roll Industries, Inc. · TR
—
25.7
25.5
24.1
20.3
17.8
20.9
25.2
21.9
16.5
17.4
18.1
17.4
19.1
16.7
15.8
17.9
23.7
20.9
24.6
P/BV · reported quarter history
Mondelez International, Inc. · MDLZ
—
2.9
3.3
3.1
3.1
2.8
3.4
3.4
3.5
3.3
3.5
3.3
3.2
3.5
2.9
3.4
3.3
3.1
2.7
2.9
The Hershey Company · HSY
—
—
13.9
—
15.4
15.7
14.7
—
15.0
13.8
10.3
9.6
9.3
9.3
7.3
7.4
7.5
8.4
8.0
9.2
Tootsie Roll Industries, Inc. · TR
—
2.7
3.0
3.1
3.2
2.9
3.6
4.0
3.2
2.6
2.7
2.8
2.6
2.5
2.5
2.5
2.7
3.3
2.8
3.3
09 · let price answer last
Market action
Tootsie Roll Industries, Inc. has the strongest one-year price move in Confectioners at +7.3%. Mondelez International, Inc. leads on Mansfield relative strength against the S&P 500 at -2.2%. 0 of 3 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Confectioners comparison names 5 specific ways its own evidence can mislead, all listed below. All 3 companies here report on comparable dates, so no rank carries a stale marker. 1 of the 8 ranked sections has fewer than three usable current readings. A high growth rate can still be a low-base artefact.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- Thin comparisons: Valuation have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 3 companies in the canonical Confectioners membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals |
|---|---|---|---|---|
| Mondelez International, Inc. MDLZ | $80.2B | $62.5 | 2026-07-28 | Mar 2026 |
| The Hershey Company HSY | $37.2B | $183 | 2026-07-28 | Mar 2026 |
| Tootsie Roll Industries, Inc. TR | $2.9B | $39.1 | 2026-07-28 | Mar 2026 |
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 3 Confectioners companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-28. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-28 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Questions investors ask · short, speakable answers
Confectioners company comparison FAQs
These 17 answers restate the Confectioners comparison above in question form. Every one is computed from the same 3 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.
Which Confectioners company is the biggest?
Mondelez International, Inc. is the largest, with trailing-twelve-month revenue of $39,304 million, ahead of The Hershey Company at $11,991 million. That covers 3 of 3 companies with comparable reporting through Mar 2026.
Which Confectioners company is growing fastest?
The Hershey Company has the fastest revenue growth at 11.5% year on year, across 3 of 3 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Confectioners company has the best profit margins?
The Hershey Company has the highest operating margin at 20.6%, from 3 of 3 comparable companies. The Hershey Company shows the biggest recent improvement, at +7.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Confectioners company makes the most profit?
Mondelez International, Inc. earns the most, at $2,388 million of trailing-twelve-month net profit, from 3 of 3 comparable companies. Tootsie Roll Industries, Inc. has the fastest profit growth at 12.2%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Confectioners company earns the highest return on capital?
The Hershey Company leads on return on capital employed at 5.9%, across 3 of 3 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Confectioners stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Mondelez International, Inc. screens cheapest at 2.28×. Only 2 of 3 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Confectioners company has the strongest balance sheet?
Tootsie Roll Industries, Inc. carries the lowest comparable gross debt at $14 million, from 3 of 3 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Confectioners company is investing most in new capacity?
Mondelez International, Inc. reports the largest capital spending at $312 million, across 3 of 3 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.
Is the Confectioners sector beating the market?
Confectioners has underperformed S&P 500 by 14.4% over the last 52 weeks and 4.4% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 0 of 3 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.
Which Confectioners stock has the strongest price momentum?
Mondelez International, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Confectioners company scores highest for research priority?
Mondelez International, Inc. scores 46 out of 100 with 83.2% evidence confidence, from 13.9 points on growth and earnings, 9.3 on capital efficiency, 7.5 on valuation and 15.3 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Confectioners companies does this comparison cover, and over what period?
It compares 3 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Confectioners sector?
The 3 Confectioners companies on this page carry $120,336 million of combined market value. Mondelez International, Inc. is the largest at $80,202 million, about 67% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.
How is the Confectioners sector performing?
0 of the 3 covered Confectioners companies are beating S&P 500 on Mansfield relative strength. The sector itself is 14.4% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.
How many Confectioners stocks are listed in the US?
This comparison covers 3 listed Confectioners companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Mar 2026. Membership is the full industry list — nothing is dropped for having thin data.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.