CALM vs. HSY

Last updated Apr 1, 2026

Compare and contrast key facts about Cal-Maine Foods, Inc. (CALM) and The Hershey Company (HSY).

Performance

CALM vs. HSY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cal-Maine Foods, Inc. (CALM) and The Hershey Company (HSY). The values are adjusted to include any dividend payments, if applicable.

CALM vs. HSY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALM Cal-Maine Foods, Inc.	0.34%	-15.61%	87.00%	14.48%	51.87%	-1.38%	-12.19%	2.09%	-3.90%	0.62%
HSY The Hershey Company	14.99%	10.98%	-6.51%	-17.88%	21.86%	29.58%	5.90%	40.20%	-2.92%	12.33%

Fundamentals

Market Cap CALM : $3.81B HSY : $42.26B
EPS CALM : $23.81 HSY : $4.34
PE Ratio CALM : 3.32 HSY : 47.85
PS Ratio CALM : 0.91 HSY : 3.61
PB Ratio CALM : 1.42 HSY : 9.11
Total Revenue (TTM) CALM : $4.21B HSY : $11.69B
Gross Profit (TTM) CALM : $1.77B HSY : $3.89B
EBITDA (TTM) CALM : $1.64B HSY : $1.82B

Returns By Period

In the year-to-date period, CALM achieves a 0.34% return, which is significantly lower than HSY's 14.99% return. Over the past 10 years, CALM has underperformed HSY with an annualized return of 7.26%, while HSY has yielded a comparatively higher 10.91% annualized return.

CALM

• 1D: 0.62%
• 1M: -9.14%
• YTD: 0.34%
• 6M: -13.82%
• 1Y: -5.42%
• 3Y*: 16.50%
• 5Y*: 21.29%
• 10Y*: 7.26%

HSY

• 1D: -2.65%
• 1M: -12.02%
• YTD: 14.99%
• 6M: 12.73%
• 1Y: 25.29%
• 3Y*: -3.88%
• 5Y*: 8.11%
• 10Y*: 10.91%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

CALM vs. HSY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CALM

CALM Risk / Return Rank: 34
CALM Sharpe Ratio Rank: 34
CALM Sortino Ratio Rank: 30
CALM Omega Ratio Rank: 30
CALM Calmar Ratio Rank: 37
CALM Martin Ratio Rank: 38

HSY

HSY Risk / Return Rank: 72
HSY Sharpe Ratio Rank: 74
HSY Sortino Ratio Rank: 70
HSY Omega Ratio Rank: 64
HSY Calmar Ratio Rank: 73
HSY Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CALM vs. HSY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cal-Maine Foods, Inc. (CALM) and The Hershey Company (HSY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CALM	HSY	Difference
Sharpe ratio Return per unit of total volatility	-0.16	0.94	-1.10
Sortino ratio Return per unit of downside risk	-0.00	1.52	-1.52
Omega ratio Gain probability vs. loss probability	1.00	1.18	-0.18
Calmar ratio Return relative to maximum drawdown	-0.15	1.54	-1.69
Martin ratio Return relative to average drawdown	-0.29	4.84	-5.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CALM vs. HSY - Sharpe Ratio Comparison

The current CALM Sharpe Ratio is -0.16, which is lower than the HSY Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of CALM and HSY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CALM	HSY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	0.94	-1.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.37	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.47	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.51	-0.12

Correlation

The correlation between CALM and HSY is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CALM vs. HSY - Dividend Comparison

CALM's dividend yield for the trailing twelve months is around 9.98%, more than HSY's 2.68% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CALM Cal-Maine Foods, Inc.	9.98%	10.90%	2.82%	7.51%	3.17%	0.09%	0.00%	0.98%	1.03%	0.00%	2.70%	4.10%
HSY The Hershey Company	2.68%	3.01%	3.24%	2.39%	1.67%	1.76%	2.07%	2.03%	2.57%	2.24%	2.32%	2.50%

Drawdowns

CALM vs. HSY - Drawdown Comparison

The maximum CALM drawdown since its inception was -74.08%, which is greater than HSY's maximum drawdown of -49.15%. Use the drawdown chart below to compare losses from any high point for CALM and HSY.

Drawdown Indicators

	CALM	HSY	Difference
Max Drawdown Largest peak-to-trough decline	-74.08%	-49.15%	-24.93%
Max Drawdown (1Y) Largest decline over 1 year	-37.00%	-17.00%	-20.00%
Max Drawdown (5Y) Largest decline over 5 years	-37.00%	-45.25%	+8.25%
Max Drawdown (10Y) Largest decline over 10 years	-39.79%	-45.25%	+5.46%
Current Drawdown Current decline from peak	-30.57%	-18.25%	-12.32%
Average Drawdown Average peak-to-trough decline	-30.29%	-13.05%	-17.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.08%	5.40%	+13.68%

Volatility

CALM vs. HSY - Volatility Comparison

Cal-Maine Foods, Inc. (CALM) has a higher volatility of 7.88% compared to The Hershey Company (HSY) at 6.54%. This indicates that CALM's price experiences larger fluctuations and is considered to be riskier than HSY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CALM	HSY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	6.54%	+1.34%
Volatility (6M) Calculated over the trailing 6-month period	18.30%	18.84%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	33.31%	27.07%	+6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.28%	22.20%	+10.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.06%	23.22%	+7.84%

Financials

CALM vs. HSY - Profitability Comparison

The chart below illustrates the profitability comparison between Cal-Maine Foods, Inc. and The Hershey Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CALM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Cal-Maine Foods, Inc. reported a gross profit of 207.39M and revenue of 769.50M. Therefore, the gross margin over that period was 27.0%.

HSY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, The Hershey Company reported a gross profit of 1.14B and revenue of 3.09B. Therefore, the gross margin over that period was 37.0%.

CALM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Cal-Maine Foods, Inc. reported an operating income of 147.50M and revenue of 769.50M, resulting in an operating margin of 19.2%.

HSY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, The Hershey Company reported an operating income of 444.91M and revenue of 3.09B, resulting in an operating margin of 14.4%.

CALM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Cal-Maine Foods, Inc. reported a net income of 102.76M and revenue of 769.50M, resulting in a net margin of 13.4%.

HSY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, The Hershey Company reported a net income of 320.02M and revenue of 3.09B, resulting in a net margin of 10.4%.