# Confectioners — company-by-company sector analysis

> Confectioners: Tootsie Roll Industries, Inc. owns the largest revenue base AND the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice.

## Bottom line

Confectioners has underperformed S&P 500 by 15.5% over 52 weeks and 7.2% over 13 weeks. 0 of 3 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 3 beat the sector itself. Tootsie Roll Industries, Inc. leads with revenue of $736 million, based on 1 of 3 comparable companies through Mar 2026.

## Sector relative strength

Confectioners has underperformed S&P 500 by 15.5% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 7.2%. 0 of 3 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is broad. Mondelez International, Inc. is the strongest against the sector itself at +3.7%.

13-week sector return versus NIFTY 500: -7.2%
52-week sector return versus NIFTY 500: -16%
Stocks leading NIFTY: 0/3
Stocks leading sector: 2/3

Central tension: The central tension: current leadership is concentrated, so durability matters more than rank.

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): 52/100 — Thin evidence · provisional; evidence 55%
   - Growth & earnings 20.2/35 | Capital efficiency 7.5/25 | Valuation 10.0/20 | Relative strength 13.8/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 20.2 + 7.5 + 10 + 13.8 = 51.5
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2. The Hershey Company (HSY): 48/100 — Thin evidence · provisional; evidence 55%
   - Growth & earnings 25.4/35 | Capital efficiency 10.6/25 | Valuation 10.0/20 | Relative strength 2.4/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 25.4 + 10.6 + 10 + 2.4 = 48.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. Tootsie Roll Industries, Inc. (TR): 36/100 — Mixed-negative evidence; evidence 78%
   - Growth & earnings 14.4/35 | Capital efficiency 9.4/25 | Valuation 6.9/20 | Relative strength 5.1/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 14.4 + 9.4 + 6.9 + 5.1 = 35.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Market action

Tootsie Roll Industries, Inc. has the strongest one-year price move in Confectioners at +5%. Mondelez International, Inc. leads on Mansfield relative strength against the S&P 500 at -6.3%. 0 of 3 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

### Strongest one-year price performers
1. Tootsie Roll Industries, Inc. (TR): 5.0%
2. Mondelez International, Inc. (MDLZ): 0.4%
3. The Hershey Company (HSY): -2.8%

### Strongest relative strength versus NIFTY 500
1. Mondelez International, Inc. (MDLZ): -6.3%
2. Tootsie Roll Industries, Inc. (TR): -9.2%
3. The Hershey Company (HSY): -16%

## Revenue Scale & Growth Durability

What the numbers say: Tootsie Roll Industries, Inc. is the scale leader at $736 million, Tootsie Roll Industries, Inc.'s growth is 2.5% from a $736 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Tootsie Roll Industries, Inc. is the scale benchmark; Tootsie Roll Industries, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Tootsie Roll Industries, Inc.'s growth falls below Tootsie Roll Industries, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Tootsie Roll Industries, Inc. · $736 million | Not enough peers | 4/8 recent comparable periods | 1/3 companies · 55 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. Tootsie Roll Industries, Inc. (TR): ₹736 Cr

### Revenue growth — fastest growers
1. Tootsie Roll Industries, Inc. (TR): 2.5%

### 20-quarter Revenue history
- MDLZ: 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 | Jun 2026 —
- HSY: 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 | Jun 2026 —
- TR: 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 | Jun 2026 —

### 20-quarter Revenue growth history
- MDLZ: 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% | Jun 2026 —
- HSY: 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% | Jun 2026 —
- TR: 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% | Jun 2026 —

## 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 · 55 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: 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% | Jun 2026 —
- HSY: 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% | Jun 2026 —
- TR: 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% | Jun 2026 —

### 20-quarter Margin change history
- MDLZ: 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 | Jun 2026 —
- HSY: 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 | Jun 2026 —
- TR: 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 | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Tootsie Roll Industries, Inc. leads with $101 million of TTM profit, 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: Tootsie Roll Industries, 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: Tootsie Roll Industries, Inc. · $101 million | Not enough peers | 5/8 recent comparable periods | 1/3 companies · 55 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. Tootsie Roll Industries, Inc. (TR): ₹101 Cr

### Profit growth — fastest growers
1. Tootsie Roll Industries, Inc. (TR): 12%

### 20-quarter Net profit history
- MDLZ: 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 | Jun 2026 —
- HSY: 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 | Jun 2026 —
- TR: 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 | Jun 2026 —

### 20-quarter Profit growth history
- MDLZ: 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% | Jun 2026 —
- HSY: 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% | Jun 2026 —
- TR: 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% | Jun 2026 —

## Return On Capital Employed

What the numbers say: The Hershey Company leads ROCE at 6%, 2.1 percentage points above Mondelez International, Inc.. The Hershey Company has the strongest latest improvement at +4 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 · 6% | 53.8% versus #2 · Mondelez International, Inc. | 3/8 recent comparable periods | 3/3 companies · 56 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): 6.0%
2. Mondelez International, Inc. (MDLZ): 3.9%
3. Tootsie Roll Industries, Inc. (TR): 2.1%

### ROCE change — fastest improvers
1. The Hershey Company (HSY): +4.0 pp
2. Mondelez International, Inc. (MDLZ): +1.6 pp
3. Tootsie Roll Industries, Inc. (TR): −0.1 pp

### 20-quarter ROCE history
- MDLZ: 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% | Jun 2026 3.9%
- HSY: 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% | Jun 2026 6.0%
- TR: 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% | Jun 2026 —

### 20-quarter ROCE change history
- MDLZ: 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 | Jun 2026 +1.6 pp
- HSY: 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 | Jun 2026 +4.0 pp
- TR: 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 | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Tootsie Roll Industries, Inc. has the lowest comparable PEG at 2.46×. Only 1 of 3 companies have earnings and growth steady enough for the ratio to mean anything, 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: Tootsie Roll Industries, Inc. · 2.46× | Not enough peers | 0/8 recent comparable periods | 1/3 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. Tootsie Roll Industries, Inc. (TR): 2.5

### P/E — lowest P/E
1. Mondelez International, Inc. (MDLZ): 21.3
2. The Hershey Company (HSY): 24.5
3. Tootsie Roll Industries, Inc. (TR): 31.2

### 20-quarter PEG history
- MDLZ: 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 — | Jun 2026 —
- TR: 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 | Jun 2026 —

### 20-quarter P/E history
- MDLZ: 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 | Jun 2026 21.3
- HSY: 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 | Jun 2026 24.5
- TR: 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 | Jun 2026 —


## 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: Revenue, Net profit, Valuation have fewer than three usable current readings.

## Every company
- Mondelez International, Inc. (MDLZ) — market value ₹79.2K Cr; latest fundamentals Jun 2026
- The Hershey Company (HSY) — market value ₹36.0K Cr; latest fundamentals Jun 2026
- Tootsie Roll Industries, Inc. (TR) — market value ₹3.0K Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-08-04.
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

### Is the Confectioners sector outperforming S&P 500?

Confectioners has underperformed S&P 500 by 15.5% over 52 weeks and 7.2% over 13 weeks. 0 of 3 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 3 beat the sector itself.

### Which Confectioners company is largest by revenue?

Tootsie Roll Industries, Inc. leads with revenue of $736 million, based on 1 of 3 comparable companies through Mar 2026.

### Which Confectioners company is growing fastest?

Tootsie Roll Industries, Inc. has the fastest current revenue growth at 2.5%, across 1 of 3 comparable companies.

### Which Confectioners company has the strongest 4-Factor Sector Score?

Mondelez International, Inc. ranks first at 51.5/100 with 54.8% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Confectioners company has the lowest comparable PEG?

Tootsie Roll Industries, Inc. has the lowest comparable PEG at 2.46, among 1 of 3 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Confectioners comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 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.

### Which Confectioners company is the biggest?

Tootsie Roll Industries, Inc. is the largest, with trailing-twelve-month revenue of $736 million. That covers 1 of 3 companies with comparable reporting through Mar 2026.

### 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?

Tootsie Roll Industries, Inc. earns the most, at $101 million of trailing-twelve-month net profit, from 1 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 6%, 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 PEG — where a LOWER number is cheaper — Tootsie Roll Industries, Inc. screens cheapest at 2.46×. Only 1 of 3 companies have earnings and growth steady enough for the ratio to mean anything, 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.

### Is the Confectioners sector beating the market?

Confectioners has underperformed S&P 500 by 15.5% over the last 52 weeks and 7.2% 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 51.5 out of 100 with 54.8% evidence confidence, from 20.2 points on growth and earnings, 7.5 on capital efficiency, 10 on valuation and 13.8 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, ending Jun 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 $118,180 million of combined market value. Mondelez International, Inc. is the largest at $79,233 million, about 67% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

### 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 15.5% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

### 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 Jun 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.