# Confectioners — company-by-company sector analysis

> Confectioners: Mondelez International, Inc. owns the largest revenue base; The Hershey Company has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## 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.

### 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.

### 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.

## Sector relative strength

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%.

13-week sector return versus NIFTY 500: -4.4%
52-week sector return versus NIFTY 500: -14%
Stocks leading NIFTY: 0/3
Stocks leading sector: 1/3

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 3
Combined market value: ₹1.2 L Cr

## 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.

1. Mondelez International, Inc. (MDLZ): 46/100 — Mixed-negative evidence; evidence 83%
   - Growth & earnings 13.9/35 | Capital efficiency 9.3/25 | Valuation 7.5/20 | Relative strength 15.3/20
   - 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.
2. The Hershey Company (HSY): 45/100 — Mixed-negative evidence; evidence 73%
   - Growth & earnings 20.5/35 | Capital efficiency 10.7/25 | Valuation 10.0/20 | Relative strength 4.1/20
   - 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.
3. Tootsie Roll Industries, Inc. (TR): 38/100 — Mixed-negative evidence; evidence 83%
   - Growth & earnings 14.0/35 | Capital efficiency 13.0/25 | Valuation 6.9/20 | Relative strength 3.6/20
   - 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.

## Revenue Scale & Growth Durability

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.

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.

Evidence: Mondelez International, Inc. · $39,304 million | 227.8% versus #2 · The Hershey Company | 7/8 recent comparable periods | 3/3 companies · 57 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Mondelez International, Inc. (MDLZ): ₹39.3K Cr
2. The Hershey Company (HSY): ₹12.0K Cr
3. Tootsie Roll Industries, Inc. (TR): ₹736 Cr

### Revenue growth — fastest growers
1. The Hershey Company (HSY): 12%
2. Mondelez International, Inc. (MDLZ): 7.8%
3. Tootsie Roll Industries, Inc. (TR): 2.5%

### 20-quarter Revenue history
- MDLZ: Jun 2021 ₹6.6K Cr | Sep 2021 ₹7.2K Cr | Dec 2021 ₹7.7K Cr | Mar 2022 ₹7.8K Cr | Jun 2022 ₹7.3K Cr | Sep 2022 ₹7.8K Cr | Dec 2022 ₹8.7K Cr | Mar 2023 ₹9.2K Cr | Jun 2023 ₹8.5K Cr | Sep 2023 ₹9.0K Cr | Dec 2023 ₹9.3K Cr | Mar 2024 ₹9.3K Cr | Jun 2024 ₹8.3K Cr | Sep 2024 ₹9.2K Cr | Dec 2024 ₹9.6K Cr | Mar 2025 ₹9.3K Cr | Jun 2025 ₹9.0K Cr | Sep 2025 ₹9.7K Cr | Dec 2025 ₹10.5K Cr | Mar 2026 ₹10.1K Cr
- HSY: Jun 2021 — | Sep 2021 ₹2.0K Cr | Dec 2021 ₹2.4K Cr | Mar 2022 — | Jun 2022 ₹2.7K Cr | Sep 2022 ₹2.4K Cr | Dec 2022 ₹2.7K Cr | Mar 2023 — | Jun 2023 ₹3.0K Cr | Sep 2023 ₹2.5K Cr | Dec 2023 ₹3.0K Cr | Mar 2024 ₹3.3K Cr | Jun 2024 ₹2.1K Cr | Sep 2024 ₹3.0K Cr | Dec 2024 ₹2.9K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹3.2K Cr | Dec 2025 ₹3.1K Cr | Mar 2026 ₹3.1K Cr
- TR: Jun 2021 ₹115 Cr | Sep 2021 ₹184 Cr | Dec 2021 ₹168 Cr | Mar 2022 ₹141 Cr | Jun 2022 ₹143 Cr | Sep 2022 ₹213 Cr | Dec 2022 ₹190 Cr | Mar 2023 ₹162 Cr | Jun 2023 ₹160 Cr | Sep 2023 ₹250 Cr | Dec 2023 ₹197 Cr | Mar 2024 ₹153 Cr | Jun 2024 ₹151 Cr | Sep 2024 ₹226 Cr | Dec 2024 ₹193 Cr | Mar 2025 ₹148 Cr | Jun 2025 ₹155 Cr | Sep 2025 ₹233 Cr | Dec 2025 ₹196 Cr | Mar 2026 ₹152 Cr

### 20-quarter Revenue growth history
- MDLZ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 9.5% | Sep 2022 8.1% | Dec 2022 14% | Mar 2023 18% | Jun 2023 17% | Sep 2023 16% | Dec 2023 7.1% | Mar 2024 1.4% | Jun 2024 -1.9% | Sep 2024 1.9% | Dec 2024 3.1% | Mar 2025 0.3% | Jun 2025 7.7% | Sep 2025 5.9% | Dec 2025 9.3% | Mar 2026 8.2%
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 19% | Dec 2022 16% | Mar 2023 — | Jun 2023 12% | Sep 2023 4.9% | Dec 2023 11% | Mar 2024 — | Jun 2024 -31% | Sep 2024 20% | Dec 2024 -4.7% | Mar 2025 -14% | Jun 2025 26% | Sep 2025 6.5% | Dec 2025 7.0% | Mar 2026 11%
- TR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 24% | Sep 2022 16% | Dec 2022 13% | Mar 2023 15% | Jun 2023 12% | Sep 2023 17% | Dec 2023 3.7% | Mar 2024 -5.6% | Jun 2024 -5.6% | Sep 2024 -9.6% | Dec 2024 -2.0% | Mar 2025 -3.3% | Jun 2025 2.7% | Sep 2025 3.1% | Dec 2025 1.6% | Mar 2026 2.7%

## Operating Economics & Margin Trend

What the numbers say: The Hershey Company leads both opm at 20.6% and margin change at +7.4 percentage points.

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.

Evidence: The Hershey Company · 20.6% | 34.6% versus #2 · Tootsie Roll Industries, Inc. | 2/8 recent comparable periods | 3/3 companies · 57 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. The Hershey Company (HSY): 21%
2. Tootsie Roll Industries, Inc. (TR): 15%
3. Mondelez International, Inc. (MDLZ): 8.0%

### Margin change — fastest expanders
1. The Hershey Company (HSY): +7.4 pp
2. Mondelez International, Inc. (MDLZ): +0.7 pp
3. Tootsie Roll Industries, Inc. (TR): −0.2 pp

### 20-quarter OPM history
- MDLZ: Jun 2021 13% | Sep 2021 18% | Dec 2021 16% | Mar 2022 14% | Jun 2022 13% | Sep 2022 8.7% | Dec 2022 9.6% | Mar 2023 16% | Jun 2023 17% | Sep 2023 15% | Dec 2023 13% | Mar 2024 29% | Jun 2024 10% | Sep 2024 13% | Dec 2024 17% | Mar 2025 7.3% | Jun 2025 13% | Sep 2025 7.6% | Dec 2025 9.1% | Mar 2026 8.0%
- HSY: Jun 2021 — | Sep 2021 23% | Dec 2021 24% | Mar 2022 — | Jun 2022 27% | Sep 2022 19% | Dec 2022 20% | Mar 2023 — | Jun 2023 27% | Sep 2023 23% | Dec 2023 24% | Mar 2024 33% | Jun 2024 14% | Sep 2024 21% | Dec 2024 33% | Mar 2025 13% | Jun 2025 7.4% | Sep 2025 14% | Dec 2025 14% | Mar 2026 21%
- TR: Jun 2021 6.0% | Sep 2021 16% | Dec 2021 12% | Mar 2022 15% | Jun 2022 19% | Sep 2022 17% | Dec 2022 14% | Mar 2023 7.9% | Jun 2023 9.2% | Sep 2023 18% | Dec 2023 14% | Mar 2024 7.3% | Jun 2024 10% | Sep 2024 16% | Dec 2024 20% | Mar 2025 16% | Jun 2025 7.8% | Sep 2025 14% | Dec 2025 17% | Mar 2026 15%

### 20-quarter Margin change history
- MDLZ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −0.4 pp | Sep 2022 −9.3 pp | Dec 2022 −6.1 pp | Mar 2023 +2.3 pp | Jun 2023 +4.1 pp | Sep 2023 +6.6 pp | Dec 2023 +3.2 pp | Mar 2024 +13.0 pp | Jun 2024 −6.6 pp | Sep 2024 −2.8 pp | Dec 2024 +4.0 pp | Mar 2025 −22.1 pp | Jun 2025 +2.8 pp | Sep 2025 −4.9 pp | Dec 2025 −7.7 pp | Mar 2026 +0.7 pp
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.8 pp | Dec 2022 −4.0 pp | Mar 2023 — | Jun 2023 −0.2 pp | Sep 2023 +3.3 pp | Dec 2023 +3.9 pp | Mar 2024 — | Jun 2024 −12.9 pp | Sep 2024 −2.0 pp | Dec 2024 +8.2 pp | Mar 2025 −19.3 pp | Jun 2025 −6.5 pp | Sep 2025 −6.8 pp | Dec 2025 −18.1 pp | Mar 2026 +7.4 pp
- TR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +12.8 pp | Sep 2022 +0.6 pp | Dec 2022 +2.4 pp | Mar 2023 −6.9 pp | Jun 2023 −9.6 pp | Sep 2023 +1.7 pp | Dec 2023 0.0 pp | Mar 2024 −0.6 pp | Jun 2024 +1.0 pp | Sep 2024 −2.8 pp | Dec 2024 +5.6 pp | Mar 2025 +8.2 pp | Jun 2025 −2.4 pp | Sep 2025 −1.7 pp | Dec 2025 −3.0 pp | Mar 2026 −0.2 pp

## Profit Scale & Acceleration

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.

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.

Evidence: Mondelez International, Inc. · $2,388 million | 118.3% versus #2 · The Hershey Company | 3/8 recent comparable periods | 3/3 companies · 57 observations

Definition: 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 profit — largest
1. Mondelez International, Inc. (MDLZ): ₹2.4K Cr
2. The Hershey Company (HSY): ₹1.1K Cr
3. Tootsie Roll Industries, Inc. (TR): ₹101 Cr

### Profit growth — fastest growers
1. Tootsie Roll Industries, Inc. (TR): 12%
2. Mondelez International, Inc. (MDLZ): -24%
3. The Hershey Company (HSY): -34%

### 20-quarter Net profit history
- MDLZ: Jun 2021 ₹470 Cr | Sep 2021 ₹907 Cr | Dec 2021 ₹905 Cr | Mar 2022 ₹749 Cr | Jun 2022 ₹658 Cr | Sep 2022 ₹454 Cr | Dec 2022 ₹502 Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹893 Cr | Sep 2023 ₹977 Cr | Dec 2023 ₹906 Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹555 Cr | Sep 2024 ₹806 Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹391 Cr | Jun 2025 ₹625 Cr | Sep 2025 ₹558 Cr | Dec 2025 ₹658 Cr | Mar 2026 ₹547 Cr
- HSY: Jun 2021 — | Sep 2021 ₹301 Cr | Dec 2021 ₹445 Cr | Mar 2022 — | Jun 2022 ₹533 Cr | Sep 2022 ₹316 Cr | Dec 2022 ₹399 Cr | Mar 2023 — | Jun 2023 ₹587 Cr | Sep 2023 ₹407 Cr | Dec 2023 ₹519 Cr | Mar 2024 ₹797 Cr | Jun 2024 ₹181 Cr | Sep 2024 ₹446 Cr | Dec 2024 ₹797 Cr | Mar 2025 ₹224 Cr | Jun 2025 ₹63 Cr | Sep 2025 ₹276 Cr | Dec 2025 ₹320 Cr | Mar 2026 ₹435 Cr
- TR: Jun 2021 ₹10 Cr | Sep 2021 ₹25 Cr | Dec 2021 ₹20 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹12 Cr | Sep 2022 ₹27 Cr | Dec 2022 ₹25 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹34 Cr | Dec 2023 ₹29 Cr | Mar 2024 ₹16 Cr | Jun 2024 ₹16 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹23 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹36 Cr | Dec 2025 ₹29 Cr | Mar 2026 ₹18 Cr

### 20-quarter Profit growth history
- MDLZ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 40% | Sep 2022 -50% | Dec 2022 -45% | Mar 2023 109% | Jun 2023 36% | Sep 2023 115% | Dec 2023 80% | Mar 2024 31% | Jun 2024 -38% | Sep 2024 -18% | Dec 2024 52% | Mar 2025 -81% | Jun 2025 13% | Sep 2025 -31% | Dec 2025 -52% | Mar 2026 40%
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 5.0% | Dec 2022 -10% | Mar 2023 — | Jun 2023 10% | Sep 2023 29% | Dec 2023 30% | Mar 2024 — | Jun 2024 -69% | Sep 2024 9.6% | Dec 2024 54% | Mar 2025 -72% | Jun 2025 -65% | Sep 2025 -38% | Dec 2025 -60% | Mar 2026 94%
- TR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 20% | Sep 2022 8.0% | Dec 2022 25% | Mar 2023 8.3% | Jun 2023 25% | Sep 2023 26% | Dec 2023 16% | Mar 2024 23% | Jun 2024 6.7% | Sep 2024 -2.9% | Dec 2024 -21% | Mar 2025 13% | Jun 2025 13% | Sep 2025 9.1% | Dec 2025 26% | Mar 2026 0.0%

## Capacity Spending & Returns On It

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.

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.

Evidence: Mondelez International, Inc. · $312 million | 171.3% versus #2 · The Hershey Company | 8/8 recent comparable periods | 3/3 companies · 57 observations

Definition: 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.

### CAPEX — largest spenders
1. Mondelez International, Inc. (MDLZ): ₹312 Cr
2. The Hershey Company (HSY): ₹115 Cr
3. Tootsie Roll Industries, Inc. (TR): ₹8 Cr

### CAPEX intensity — highest reinvestment intensity
1. Tootsie Roll Industries, Inc. (TR): 5.3%
2. The Hershey Company (HSY): 3.7%
3. Mondelez International, Inc. (MDLZ): 3.1%

### 20-quarter CAPEX history
- MDLZ: Jun 2021 ₹194 Cr | Sep 2021 ₹229 Cr | Dec 2021 ₹326 Cr | Mar 2022 ₹167 Cr | Jun 2022 ₹218 Cr | Sep 2022 ₹236 Cr | Dec 2022 ₹285 Cr | Mar 2023 ₹223 Cr | Jun 2023 ₹272 Cr | Sep 2023 ₹285 Cr | Dec 2023 ₹332 Cr | Mar 2024 ₹299 Cr | Jun 2024 ₹367 Cr | Sep 2024 ₹316 Cr | Dec 2024 ₹405 Cr | Mar 2025 ₹277 Cr | Jun 2025 ₹305 Cr | Sep 2025 ₹299 Cr | Dec 2025 ₹398 Cr | Mar 2026 ₹312 Cr
- HSY: Jun 2021 — | Sep 2021 ₹113 Cr | Dec 2021 ₹120 Cr | Mar 2022 — | Jun 2022 ₹141 Cr | Sep 2022 ₹100 Cr | Dec 2022 ₹119 Cr | Mar 2023 — | Jun 2023 ₹176 Cr | Sep 2023 ₹154 Cr | Dec 2023 ₹218 Cr | Mar 2024 ₹213 Cr | Jun 2024 ₹130 Cr | Sep 2024 ₹128 Cr | Dec 2024 ₹135 Cr | Mar 2025 ₹146 Cr | Jun 2025 ₹85 Cr | Sep 2025 ₹86 Cr | Dec 2025 ₹138 Cr | Mar 2026 ₹115 Cr
- TR: Jun 2021 ₹9 Cr | Sep 2021 ₹11 Cr | Dec 2021 ₹8 Cr | Mar 2022 ₹6 Cr | Jun 2022 ₹4 Cr | Sep 2022 ₹7 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹5 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹9 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹4 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹4 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹8 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹12 Cr | Mar 2026 ₹8 Cr

### 20-quarter CAPEX intensity history
- MDLZ: Jun 2021 2.9% | Sep 2021 3.2% | Dec 2021 4.3% | Mar 2022 2.2% | Jun 2022 3.0% | Sep 2022 3.0% | Dec 2022 3.3% | Mar 2023 2.4% | Jun 2023 3.2% | Sep 2023 3.2% | Dec 2023 3.6% | Mar 2024 3.2% | Jun 2024 4.4% | Sep 2024 3.4% | Dec 2024 4.2% | Mar 2025 3.0% | Jun 2025 3.4% | Sep 2025 3.1% | Dec 2025 3.8% | Mar 2026 3.1%
- HSY: Jun 2021 — | Sep 2021 5.7% | Dec 2021 5.1% | Mar 2022 — | Jun 2022 5.3% | Sep 2022 4.2% | Dec 2022 4.4% | Mar 2023 — | Jun 2023 5.9% | Sep 2023 6.2% | Dec 2023 7.2% | Mar 2024 6.5% | Jun 2024 6.3% | Sep 2024 4.3% | Dec 2024 4.7% | Mar 2025 5.2% | Jun 2025 3.3% | Sep 2025 2.7% | Dec 2025 4.5% | Mar 2026 3.7%
- TR: Jun 2021 7.8% | Sep 2021 6.0% | Dec 2021 4.8% | Mar 2022 4.3% | Jun 2022 2.8% | Sep 2022 3.3% | Dec 2022 3.2% | Mar 2023 3.1% | Jun 2023 3.8% | Sep 2023 3.6% | Dec 2023 3.6% | Mar 2024 2.6% | Jun 2024 2.6% | Sep 2024 2.2% | Dec 2024 2.1% | Mar 2025 2.0% | Jun 2025 5.2% | Sep 2025 5.2% | Dec 2025 6.1% | Mar 2026 5.3%

## Debt Load & Balance-Sheet Headroom

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.

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.

Evidence: Tootsie Roll Industries, Inc. · $14 million | 99.7% versus #2 · The Hershey Company | 8/8 recent comparable periods | 3/3 companies · 57 observations

Definition: 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 debt — lowest gross debt
1. Tootsie Roll Industries, Inc. (TR): ₹14 Cr
2. The Hershey Company (HSY): ₹5.4K Cr
3. Mondelez International, Inc. (MDLZ): ₹21.6K Cr

### Net debt — lowest net debt
1. Tootsie Roll Industries, Inc. (TR): ₹-156 Cr
2. The Hershey Company (HSY): ₹4.5K Cr
3. Mondelez International, Inc. (MDLZ): ₹20.1K Cr

### 20-quarter Gross debt history
- MDLZ: Jun 2021 ₹19.5K Cr | Sep 2021 ₹20.5K Cr | Dec 2021 ₹20.0K Cr | Mar 2022 ₹20.2K Cr | Jun 2022 ₹19.7K Cr | Sep 2022 ₹22.2K Cr | Dec 2022 ₹23.4K Cr | Mar 2023 ₹22.7K Cr | Jun 2023 ₹21.7K Cr | Sep 2023 ₹20.5K Cr | Dec 2023 ₹19.9K Cr | Mar 2024 ₹19.6K Cr | Jun 2024 ₹20.2K Cr | Sep 2024 ₹20.4K Cr | Dec 2024 ₹18.4K Cr | Mar 2025 ₹20.2K Cr | Jun 2025 ₹21.5K Cr | Sep 2025 ₹21.9K Cr | Dec 2025 ₹21.8K Cr | Mar 2026 ₹21.6K Cr
- HSY: Jun 2021 — | Sep 2021 ₹4.3K Cr | Dec 2021 ₹4.5K Cr | Mar 2022 — | Jun 2022 ₹5.0K Cr | Sep 2022 ₹5.0K Cr | Dec 2022 ₹4.9K Cr | Mar 2023 — | Jun 2023 ₹4.7K Cr | Sep 2023 ₹5.0K Cr | Dec 2023 ₹4.9K Cr | Mar 2024 ₹5.4K Cr | Jun 2024 ₹5.4K Cr | Sep 2024 ₹5.3K Cr | Dec 2024 ₹5.1K Cr | Mar 2025 ₹5.9K Cr | Jun 2025 ₹5.6K Cr | Sep 2025 ₹5.4K Cr | Dec 2025 ₹5.4K Cr | Mar 2026 ₹5.4K Cr
- TR: Jun 2021 ₹15 Cr | Sep 2021 ₹16 Cr | Dec 2021 ₹16 Cr | Mar 2022 ₹16 Cr | Jun 2022 ₹16 Cr | Sep 2022 ₹13 Cr | Dec 2022 ₹13 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹15 Cr | Dec 2023 ₹16 Cr | Mar 2024 ₹16 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹15 Cr | Dec 2024 ₹15 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹14 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹14 Cr

### 20-quarter Net debt history
- MDLZ: Jun 2021 ₹17.6K Cr | Sep 2021 ₹17.1K Cr | Dec 2021 ₹16.4K Cr | Mar 2022 ₹18.3K Cr | Jun 2022 ₹17.8K Cr | Sep 2022 ₹20.0K Cr | Dec 2022 ₹21.5K Cr | Mar 2023 ₹20.8K Cr | Jun 2023 ₹20.2K Cr | Sep 2023 ₹18.8K Cr | Dec 2023 ₹18.1K Cr | Mar 2024 ₹18.2K Cr | Jun 2024 ₹18.8K Cr | Sep 2024 ₹18.9K Cr | Dec 2024 ₹17.0K Cr | Mar 2025 ₹18.6K Cr | Jun 2025 ₹20.0K Cr | Sep 2025 ₹20.6K Cr | Dec 2025 ₹19.7K Cr | Mar 2026 ₹20.1K Cr
- HSY: Jun 2021 — | Sep 2021 ₹3.9K Cr | Dec 2021 ₹3.8K Cr | Mar 2022 — | Jun 2022 ₹4.6K Cr | Sep 2022 ₹4.7K Cr | Dec 2022 ₹4.6K Cr | Mar 2023 — | Jun 2023 ₹4.2K Cr | Sep 2023 ₹4.5K Cr | Dec 2023 ₹4.4K Cr | Mar 2024 ₹4.9K Cr | Jun 2024 ₹4.9K Cr | Sep 2024 ₹4.7K Cr | Dec 2024 ₹4.4K Cr | Mar 2025 ₹4.4K Cr | Jun 2025 ₹4.7K Cr | Sep 2025 ₹4.2K Cr | Dec 2025 ₹4.5K Cr | Mar 2026 ₹4.5K Cr
- TR: Jun 2021 ₹-124 Cr | Sep 2021 ₹-100 Cr | Dec 2021 ₹-130 Cr | Mar 2022 ₹-130 Cr | Jun 2022 ₹-107 Cr | Sep 2022 ₹-133 Cr | Dec 2022 ₹-136 Cr | Mar 2023 ₹-111 Cr | Jun 2023 ₹-94 Cr | Sep 2023 ₹-120 Cr | Dec 2023 ₹-155 Cr | Mar 2024 ₹-143 Cr | Jun 2024 ₹-116 Cr | Sep 2024 ₹-148 Cr | Dec 2024 ₹-180 Cr | Mar 2025 ₹-162 Cr | Jun 2025 ₹-157 Cr | Sep 2025 ₹-106 Cr | Dec 2025 ₹-163 Cr | Mar 2026 ₹-156 Cr

## Return On Capital Employed

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.

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.

Evidence: The Hershey Company · 5.9% | 181% versus #2 · Tootsie Roll Industries, Inc. | 2/8 recent comparable periods | 3/3 companies · 54 observations

Definition: 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.

### ROCE — highest
1. The Hershey Company (HSY): 5.9%
2. Tootsie Roll Industries, Inc. (TR): 2.1%
3. Mondelez International, Inc. (MDLZ): 1.7%

### ROCE change — fastest improvers
1. The Hershey Company (HSY): +2.2 pp
2. Mondelez International, Inc. (MDLZ): +0.3 pp
3. Tootsie Roll Industries, Inc. (TR): −0.1 pp

### 20-quarter ROCE history
- MDLZ: Jun 2021 — | Sep 2021 2.4% | Dec 2021 2.3% | Mar 2022 2.1% | Jun 2022 1.8% | Sep 2022 1.3% | Dec 2022 1.6% | Mar 2023 2.8% | Jun 2023 2.7% | Sep 2023 2.6% | Dec 2023 2.2% | Mar 2024 5.1% | Jun 2024 1.6% | Sep 2024 2.2% | Dec 2024 3.2% | Mar 2025 1.4% | Jun 2025 2.3% | Sep 2025 1.5% | Dec 2025 1.9% | Mar 2026 1.7%
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 7.9% | Mar 2022 — | Jun 2022 9.4% | Sep 2022 6.3% | Dec 2022 7.4% | Mar 2023 — | Jun 2023 10% | Sep 2023 7.0% | Dec 2023 9.0% | Mar 2024 13% | Jun 2024 3.3% | Sep 2024 7.0% | Dec 2024 11% | Mar 2025 3.7% | Jun 2025 2.0% | Sep 2025 4.6% | Dec 2025 4.5% | Mar 2026 5.9%
- TR: Jun 2021 — | Sep 2021 3.2% | Dec 2021 2.2% | Mar 2022 2.3% | Jun 2022 2.9% | Sep 2022 3.9% | Dec 2022 2.9% | Mar 2023 1.4% | Jun 2023 1.6% | Sep 2023 4.9% | Dec 2023 3.0% | Mar 2024 1.1% | Jun 2024 1.6% | Sep 2024 3.5% | Dec 2024 3.8% | Mar 2025 2.2% | Jun 2025 1.2% | Sep 2025 3.0% | Dec 2025 3.0% | Mar 2026 2.1%

### 20-quarter ROCE change history
- MDLZ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.1 pp | Dec 2022 −0.7 pp | Mar 2023 +0.7 pp | Jun 2023 +0.9 pp | Sep 2023 +1.3 pp | Dec 2023 +0.6 pp | Mar 2024 +2.3 pp | Jun 2024 −1.1 pp | Sep 2024 −0.4 pp | Dec 2024 +1.0 pp | Mar 2025 −3.7 pp | Jun 2025 +0.7 pp | Sep 2025 −0.7 pp | Dec 2025 −1.3 pp | Mar 2026 +0.3 pp
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.5 pp | Mar 2023 — | Jun 2023 +0.7 pp | Sep 2023 +0.7 pp | Dec 2023 +1.6 pp | Mar 2024 — | Jun 2024 −6.8 pp | Sep 2024 0.0 pp | Dec 2024 +1.5 pp | Mar 2025 −8.9 pp | Jun 2025 −1.3 pp | Sep 2025 −2.4 pp | Dec 2025 −6.0 pp | Mar 2026 +2.2 pp
- TR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.7 pp | Dec 2022 +0.7 pp | Mar 2023 −0.9 pp | Jun 2023 −1.3 pp | Sep 2023 +1.0 pp | Dec 2023 +0.1 pp | Mar 2024 −0.3 pp | Jun 2024 0.0 pp | Sep 2024 −1.4 pp | Dec 2024 +0.8 pp | Mar 2025 +1.1 pp | Jun 2025 −0.4 pp | Sep 2025 −0.5 pp | Dec 2025 −0.8 pp | Mar 2026 −0.1 pp

## Valuation Against Growth & Quality

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.

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.

Evidence: Mondelez International, Inc. · 2.28× | 7.3% versus #2 · Tootsie Roll Industries, Inc. | 0/8 recent comparable periods | 2/3 companies · 12 observations

Definition: 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 PEG — lowest PEG
1. Mondelez International, Inc. (MDLZ): 2.3
2. Tootsie Roll Industries, Inc. (TR): 2.5

### P/E — lowest P/E
1. Mondelez International, Inc. (MDLZ): 28.7
2. Tootsie Roll Industries, Inc. (TR): 31.2
3. The Hershey Company (HSY): 39.8

### 20-quarter Guarded PEG history
- MDLZ: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 2.6 | Sep 2023 0.4 | Dec 2023 — | Mar 2024 2.3 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 —
- TR: Jun 2021 — | Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 2.5 | Jun 2023 1.9 | Sep 2023 0.9 | Dec 2023 0.9 | Mar 2024 0.8 | Jun 2024 0.9 | Sep 2024 2.0 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 1.8 | Mar 2026 2.5

### 20-quarter P/E history
- MDLZ: Jun 2021 — | Sep 2021 18.5 | Dec 2021 21.8 | Mar 2022 21.0 | Jun 2022 22.5 | Sep 2022 24.4 | Dec 2022 34.0 | Mar 2023 24.3 | Jun 2023 24.2 | Sep 2023 20.7 | Dec 2023 20.0 | Mar 2024 22.2 | Jun 2024 22.5 | Sep 2024 26.1 | Dec 2024 17.5 | Mar 2025 25.2 | Jun 2025 24.7 | Sep 2025 23.4 | Dec 2025 28.5 | Mar 2026 28.7
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 24.8 | Mar 2022 — | Jun 2022 28.1 | Sep 2022 28.1 | Dec 2022 28.8 | Mar 2023 — | Jun 2023 30.9 | Sep 2023 28.7 | Dec 2023 21.6 | Mar 2024 19.3 | Jun 2024 20.4 | Sep 2024 22.3 | Dec 2024 15.5 | Mar 2025 20.9 | Jun 2025 22.2 | Sep 2025 28.1 | Dec 2025 41.9 | Mar 2026 39.8
- TR: Jun 2021 — | Sep 2021 36.5 | Dec 2021 37.5 | Mar 2022 36.3 | Jun 2022 35.4 | Sep 2022 32.7 | Dec 2022 38.6 | Mar 2023 41.0 | Jun 2023 31.3 | Sep 2023 23.8 | Dec 2023 24.5 | Mar 2024 23.6 | Jun 2024 22.3 | Sep 2024 22.9 | Dec 2024 26.6 | Mar 2025 25.9 | Jun 2025 26.8 | Sep 2025 32.6 | Dec 2025 26.7 | Mar 2026 31.3

## Enterprise Value & Book Value

What the numbers say: Mondelez International, Inc. leads both ev/ebitda at 18.6× and p/bv at 2.87×.

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.

Evidence: Mondelez International, Inc. · 18.6× | 13.1% versus #2 · The Hershey Company | 0/8 recent comparable periods | 3/3 companies · 54 observations

Definition: 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/EBITDA — lowest EV/EBITDA
1. Mondelez International, Inc. (MDLZ): 18.6
2. The Hershey Company (HSY): 21.4
3. Tootsie Roll Industries, Inc. (TR): 24.6

### P/BV — lowest P/BV
1. Mondelez International, Inc. (MDLZ): 2.9
2. Tootsie Roll Industries, Inc. (TR): 3.3
3. The Hershey Company (HSY): 9.2

### 20-quarter EV/EBITDA history
- MDLZ: Jun 2021 — | Sep 2021 17.1 | Dec 2021 18.9 | Mar 2022 18.9 | Jun 2022 18.3 | Sep 2022 19.0 | Dec 2022 24.3 | Mar 2023 22.8 | Jun 2023 21.4 | Sep 2023 17.9 | Dec 2023 17.3 | Mar 2024 14.1 | Jun 2024 14.4 | Sep 2024 16.3 | Dec 2024 12.5 | Mar 2025 19.0 | Jun 2025 18.1 | Sep 2025 18.3 | Dec 2025 18.1 | Mar 2026 18.6
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 17.0 | Mar 2022 — | Jun 2022 19.5 | Sep 2022 19.5 | Dec 2022 19.5 | Mar 2023 — | Jun 2023 20.6 | Sep 2023 19.6 | Dec 2023 15.0 | Mar 2024 13.6 | Jun 2024 14.1 | Sep 2024 15.3 | Dec 2024 11.5 | Mar 2025 14.5 | Jun 2025 14.9 | Sep 2025 17.4 | Dec 2025 21.3 | Mar 2026 21.5
- TR: Jun 2021 — | Sep 2021 25.7 | Dec 2021 25.5 | Mar 2022 24.1 | Jun 2022 20.3 | Sep 2022 17.8 | Dec 2022 20.9 | Mar 2023 25.2 | Jun 2023 21.9 | Sep 2023 16.5 | Dec 2023 17.4 | Mar 2024 18.1 | Jun 2024 17.4 | Sep 2024 19.1 | Dec 2024 16.7 | Mar 2025 15.8 | Jun 2025 17.9 | Sep 2025 23.7 | Dec 2025 20.9 | Mar 2026 24.6

### 20-quarter P/BV history
- MDLZ: Jun 2021 — | Sep 2021 2.9 | Dec 2021 3.3 | Mar 2022 3.1 | Jun 2022 3.1 | Sep 2022 2.8 | Dec 2022 3.4 | Mar 2023 3.4 | Jun 2023 3.5 | Sep 2023 3.3 | Dec 2023 3.5 | Mar 2024 3.3 | Jun 2024 3.2 | Sep 2024 3.5 | Dec 2024 2.9 | Mar 2025 3.4 | Jun 2025 3.3 | Sep 2025 3.1 | Dec 2025 2.7 | Mar 2026 2.9
- HSY: Jun 2021 — | Sep 2021 — | Dec 2021 13.9 | Mar 2022 — | Jun 2022 15.4 | Sep 2022 15.7 | Dec 2022 14.7 | Mar 2023 — | Jun 2023 15.0 | Sep 2023 13.8 | Dec 2023 10.3 | Mar 2024 9.6 | Jun 2024 9.3 | Sep 2024 9.3 | Dec 2024 7.3 | Mar 2025 7.4 | Jun 2025 7.5 | Sep 2025 8.4 | Dec 2025 8.0 | Mar 2026 9.2
- TR: Jun 2021 — | Sep 2021 2.7 | Dec 2021 3.0 | Mar 2022 3.1 | Jun 2022 3.2 | Sep 2022 2.9 | Dec 2022 3.6 | Mar 2023 4.0 | Jun 2023 3.2 | Sep 2023 2.6 | Dec 2023 2.7 | Mar 2024 2.8 | Jun 2024 2.6 | Sep 2024 2.5 | Dec 2024 2.5 | Mar 2025 2.5 | Jun 2025 2.7 | Sep 2025 3.3 | Dec 2025 2.8 | Mar 2026 3.3

## 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.

### Strongest one-year price performers
1. Tootsie Roll Industries, Inc. (TR): 7.3%
2. Mondelez International, Inc. (MDLZ): -2.3%
3. The Hershey Company (HSY): -3.0%

### Strongest relative strength versus NIFTY 500
1. Mondelez International, Inc. (MDLZ): -2.2%
2. Tootsie Roll Industries, Inc. (TR): -7.0%
3. The Hershey Company (HSY): -11%

## What can make this comparison misleading?
- 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.

## Every company
- Mondelez International, Inc. (MDLZ) — market value ₹80.2K Cr; latest fundamentals Mar 2026
- The Hershey Company (HSY) — market value ₹37.2K Cr; latest fundamentals Mar 2026
- Tootsie Roll Industries, Inc. (TR) — market value ₹2.9K Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Mar 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### 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.

Narrative sector analysis: https://www.sectoralpha.in/sectors/confectioners