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NASDAQ: HWKN Nasdaq Specialty Chemicals Next results ~January 27, 2027

B Fundamentals grade

Hawkins Inc is a US-listed company in the specialty chemicals industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$83

Cash-flow model

Base case. Range ~$60–$110 across our lower- and higher-growth cases (2.9%–12.9% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 45% below it.

Price used: $152.11, November 2, 2026

Hawkins Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 0 selling5 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds160 adding, 135 cuttingOf 44 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Hawkins files

10-Q filed October 26: Hawkins

Revenue reached $1.14bn in the twelve months to September 2026, up 9.0% on a year earlier and holding broadly the pace set a quarter before. Free cash flow stayed at 8.1% of revenue. Our model value is little changed at $87.69 a share, well below the $135 market price, so the rating remains Sell. To justify $135, the market is effectively pricing in about 14.5% annual cash-flow growth over five years. That assumption sits well above the 8.0% yearly revenue growth the business has actually delivered. The gap between what is priced and what has been achieved underpins the cautious stance.

Source: 10-Q filed October 26, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Hawkins stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.11bn, up 9.3% on a year earlier, slower than 11.2% a quarter earlier. Free-cash-flow margin held at 8.3%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 6 financial-health checks. Our cash-flow model value is $87.69 a share, against a share price of $135. At that price, our model says the market is pricing in about 14.5% a year of cash-flow growth for five years, faster than the 7.4% a year revenue growth it has delivered.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 27, 2027 (estimated)

Hawkins Inc's trailing-twelve-month revenue grew 9.0% year on year, with a free-cash-flow margin of 8.1%. Where it stands out: net margin of 7.5% ranks 9 of 42 specialty chemicals companies we cover.

Our discounted-cash-flow model values the business at ~$83 per share in the base case (~$60–$110 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to 9.0% (-0.3pp vs the prior quarter), the 4th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Hawkins Inc's latest figures clears our strength thresholds.

Things to watch

  • Priced above our value. The share price of $152.11 is 45% above our value per share of $83.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 13.2% over 90 days.

Latest results: FY2027 Q2

Filed October 26, 2026
Earnings per share
$1.36 against an average estimate of $1.53: missed by 11.6%
Revenue
$314m, up 11.9% on a year earlier
Share reaction
+16.3% in the first session after the results on October 26, 2026, against +1.3% for the S&P 500
Guidance given
effective tax rate 25% to 27% (full year)
Next report
October 26, 2026; average EPS estimate $1.18

Hawkins' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.3%
  • 1 week+12.3%
  • 1 month+15.8%
  • This year+7.5%
  • 1 year+7.8%
  • 5 years+325.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
11.1%
Net margin
7.5%
EPS (TTM, diluted)
$4.11

Growth

Revenue growth
+9.0%
Change in growth rate
−0.3 pts
Share count change
−0.2%

Cash

Free cash flow (TTM)
$92.5M
FCF margin
8.1%
Stock pay % of revenue
0.7%

Earnings

Last results
October 26, 2026
Next results (est.)
January 27, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Our research
  3. Results
  4. Guidance
  5. Leadership
  6. Shareholder vote
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Hawkins Inc valuation models and calculator

What the price is pricing in

The share price implies about 17.8% a year of cash-flow growth for five years.That is faster than the 8.0% a year revenue growth Hawkins has delivered.

  • Priced in17.8%
  • Last 12 months9.0%
  • 3 years a year6.8%
  • 5 years a year8.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($153.28, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$83
Price used
$153.28close November 3, 2026
Implied change
▼ 46%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Hawkins Inc's free cash flow after stock-based pay with after-tax interest added back ($84.4M, FY2027 Q2 TTM), growing 7.2% and 7.8% in the next two years (forecasts, guidance and its record), then back to 7.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$60–~$110 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Hawkins Inc's free cash flow after stock-based pay ( $84.4M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Hawkins Inc as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$83 ~$60–$110 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$78 ~$74–$120 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$76 ~$54–$110 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$70 ~$60–$84 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$78 ~$70–$83 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Hawkins Inc with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −27%
  • Revenue growth 5 points higher ▲ +36%
  • Free-cash-flow margin 1 point lower ▼ −14%
  • Last year's free-cash-flow margin change, if it persists ▲ +9%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $48$69$97$134$182$244
8.5% $34$50$70$96$130$174
10% $26$38$53$73$99$133

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$15.93$21.41$15.74$16.77$15.50$31.73$43.94$42.68$75.70$105.29$151.70$152.11
Market value$337m$454m$335m$360m$330m$675m$929m$897m$1.6bn$2.2bn$3.2bn$3.2bn
+ Net debt (− = net cash)$110m$96m$96m$76m$56m$96m$123m$104m$92m$154m$240m$222m
Enterprise value$447m$550m$431m$436m$386m$771m$1.1bn$1.0bn$1.7bn$2.4bn$3.4bn$3.4bn
Multiples
Price / sales 0.8x0.9x0.7x0.6x0.6x1.1x1.2x1.0x1.7x2.3x2.9x2.8x
Price / earnings 18.6x20.1x—14.7x11.6x16.5x18.0x14.9x21.1x26.1x38.8x37.0x
Price / free cash flow 27.7x19.5x43.8x10.2x9.6x29.3x64.8x30.8x13.3x31.5x36.8x34.3x
EV / EBITDA 9.6x9.2x40.6x7.4x6.1x9.8x11.0x8.7x12.4x14.8x19.6x18.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard Hawkins's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.2% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 19.4%, moving by 2.1 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 9.5%; its worst year was -1.3%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 8 of 10 years, at a median 6.7% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 1.7% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.11 +4% $1.2bn +8%
Next $4.68 +14% $1.3bn +8%

Next year's EPS estimate has moved −13.2% in 90 days, across 2 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.53 $1.36 −11.6%
Mar 2026 $0.85 $0.74 −12.8%
Dec 2025 $0.71 $0.70 −2.6%
Sept 2025 $1.23 $1.09 −11.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 26, 2026
  • effective tax rate full year 25% to 27%
    “Our effective tax rate for the full year is expected to be approximately 25% to 27%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Hawkins Inc's revenue by +7.2% next year and +7.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+6.6%, weight 56%) and the company's own record (+7.9%, weight 44%) . How the weights are set.

Analyst recommendations

3 analysts, Oct 2026
Buy267%
Hold133%
Sell00%

Monthly trend

  1. Oct 2026213
  2. Sep 2026213
  3. Aug 2026213
  4. Jul 2026224

Counts of recommendations published by analysts covering Hawkins Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.7%
of tradable shares
Days to cover
6.88
at average volume
Short interest, 1 month
+5%
to September 30, 2026
Held by institutions
79%
of shares
Held by insiders
4.2%
of shares
Employees
1,200
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +7.8%

$141.06 on October 31, 2025 to $152.11

ThenNowEffect
Revenue (last 12 months) $1.0bn $1.1bn +9.3%
Net margin 8.4% 7.3% −12.9%
P/E multiple 34.8x 39.4x +13.0%
Share count 21m 21m +0.2%

Biggest factor: net margin.

Last 3 years +156.1%

$59.40 on November 3, 2023 to $152.11

ThenNowEffect
Revenue (last 12 months) $940m $1.1bn +17.7%
Net margin 6.8% 7.3% +7.4%
P/E multiple 19.6x 39.4x +101.2%
Share count 21m 21m +0.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
HWKN+53%−1%+85%+76%+17%+8%
Industry peers (median)+17%−26%−9%+6%−15%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
HWKN67%50%67%67%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
HWKN−22%−29%−14%−21%−35%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 45% from January 25, 2017 to March 18, 2020. Getting back needed a 81% gain, reached on July 30, 2020, 134 days after the low.

Price behaviour

52-week range
$117.67 – $171.21
From 52-week high
−11.2%
vs 50-day average
+17.6%
vs 200-day average
+6.4%
Volatility (1 year)
39%
Beta vs S&P 500
0.66

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±9.0%
After a week
6 up, 6 down
typical move ±10.4%
After a month
6 up, 5 down
typical move ±11.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 26, 2026 +16.3% +1.3% +15.0% —
July 29, 2026 −9.6% +0.1% −5.4% −17.6%
May 13, 2026 −7.1% +1.4% −8.0% −6.0%
January 28, 2026 −9.0% −0.2% −15.9% −2.8%
October 29, 2025 −8.9% −1.1% −22.9% −21.2%
July 30, 2025 +1.6% −0.5% +6.2% +5.8%
May 14, 2025 −1.2% +0.6% +5.6% +13.0%
January 29, 2025 −8.7% +0.1% −2.8% −9.7%
October 30, 2024 −8.8% −2.3% +2.3% +15.0%
July 31, 2024 +17.6% +0.2% +13.5% +20.7%
May 15, 2024 +9.4% +1.0% +14.6% +13.3%
January 31, 2024 −10.2% −0.3% −12.4% +2.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Hawkins Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 3, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Hawkins Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Hawkins Inc
$900M $1B $1.1B $1.2B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $924.3M Revenue (TTM), FY24 Q4: $919.2M Revenue (TTM), FY25 Q1: $923.9M Revenue (TTM), FY25 Q2: $934.4M Revenue (TTM), FY25 Q3: $952.1M Revenue (TTM), FY25 Q4: $974.4M Revenue (TTM), FY26 Q1: $1B Revenue (TTM), FY26 Q2: $1B Revenue (TTM), FY26 Q3: $1.1B Revenue (TTM), FY26 Q4: $1.1B Revenue (TTM), FY27 Q1: $1.1B Revenue (TTM), FY27 Q2: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $924.3M
FY24 Q4 $919.2M
FY25 Q1 $923.9M
FY25 Q2 $934.4M
FY25 Q3 $952.1M
FY25 Q4 $974.4M
FY26 Q1 $1B
FY26 Q2 $1B
FY26 Q3 $1.1B
FY26 Q4 $1.1B
FY27 Q1 $1.1B
FY27 Q2 $1.1B
Revenue growth, TTM YoY Hawkins Inc
-5% 0% 5% 10% 15% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: -0.6% Revenue growth, TTM YoY, FY24 Q4: -1.7% Revenue growth, TTM YoY, FY25 Q1: -1.7% Revenue growth, TTM YoY, FY25 Q2: -0.1% Revenue growth, TTM YoY, FY25 Q3: 3.0% Revenue growth, TTM YoY, FY25 Q4: 6.0% Revenue growth, TTM YoY, FY26 Q1: 9.5% Revenue growth, TTM YoY, FY26 Q2: 11.9% Revenue growth, TTM YoY, FY26 Q3: 11.7% Revenue growth, TTM YoY, FY26 Q4: 11.2% Revenue growth, TTM YoY, FY27 Q1: 9.3% Revenue growth, TTM YoY, FY27 Q2: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 -0.6%
FY24 Q4 -1.7%
FY25 Q1 -1.7%
FY25 Q2 -0.1%
FY25 Q3 3.0%
FY25 Q4 6.0%
FY26 Q1 9.5%
FY26 Q2 11.9%
FY26 Q3 11.7%
FY26 Q4 11.2%
FY27 Q1 9.3%
FY27 Q2 9.0%
Operating margin (TTM) Hawkins Inc
10.5% 11% 11.5% 12% 12.5% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 11.1% Operating margin (TTM), FY24 Q4: 11.3% Operating margin (TTM), FY25 Q1: 12.1% Operating margin (TTM), FY25 Q2: 12.0% Operating margin (TTM), FY25 Q3: 12.0% Operating margin (TTM), FY25 Q4: 12.2% Operating margin (TTM), FY26 Q1: 11.9% Operating margin (TTM), FY26 Q2: 11.6% Operating margin (TTM), FY26 Q3: 11.5% Operating margin (TTM), FY26 Q4: 11.2% Operating margin (TTM), FY27 Q1: 10.7% Operating margin (TTM), FY27 Q2: 11.1% 11.1%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 11.1%
FY24 Q4 11.3%
FY25 Q1 12.1%
FY25 Q2 12.0%
FY25 Q3 12.0%
FY25 Q4 12.2%
FY26 Q1 11.9%
FY26 Q2 11.6%
FY26 Q3 11.5%
FY26 Q4 11.2%
FY27 Q1 10.7%
FY27 Q2 11.1%
FCF margin (TTM) Hawkins Inc
6% 8% 10% 12% 14% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 11.5% FCF margin (TTM), FY24 Q4: 13.0% FCF margin (TTM), FY25 Q1: 10.7% FCF margin (TTM), FY25 Q2: 8.7% FCF margin (TTM), FY25 Q3: 8.4% FCF margin (TTM), FY25 Q4: 7.2% FCF margin (TTM), FY26 Q1: 8.0% FCF margin (TTM), FY26 Q2: 7.5% FCF margin (TTM), FY26 Q3: 8.2% FCF margin (TTM), FY26 Q4: 7.9% FCF margin (TTM), FY27 Q1: 8.3% FCF margin (TTM), FY27 Q2: 8.1% 8.1%

Source: SEC EDGAR filings. Retrieved October 27, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 11.5%
FY24 Q4 13.0%
FY25 Q1 10.7%
FY25 Q2 8.7%
FY25 Q3 8.4%
FY25 Q4 7.2%
FY26 Q1 8.0%
FY26 Q2 7.5%
FY26 Q3 8.2%
FY26 Q4 7.9%
FY27 Q1 8.3%
FY27 Q2 8.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Hawkins took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.1B
  2. Cost of revenue $839M · 77.4%
  3. Gross profit $245M · 22.6%
  4. Selling, general and admin $124M · 11.4%
  5. Operating income $121M · 11.2%
  6. Income tax $27.8M · 2.6%
  7. Interest and other $12M · 1.1%
  8. Net income $81.5M · 7.5%

Shares of revenue. Source: Hawkins's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Mar 2010 2011 Apr 2011 2012 Apr 2012 2013 Mar 2013 2014 Mar 2014 2015 Mar 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Apr 2022 2023 Apr 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Sept 2026
Income
Revenue 257 298 344 350 348 364 414 484 504 556 540 597 775 935 919 974 1,084 1,139
Gross profit 64 62 66 57 62 66 80 98 87 96 101 124 147 165 194 226 245 256
EBITDA 45 39 44 36 41 43 47 60 11 59 63 79 95 116 136 159 174 182
Operating income 39 32 35 25 28 30 31 39 −12 37 42 56 71 88 104 119 121 127
Net income 24 20 23 17 18 19 18 23 −9 24 28 41 52 60 75 84 82 86
Diluted EPS $1.16 $0.98 $1.09 $0.81 $0.85 $0.91 $0.86 $1.06 −$0.43 $1.14 $1.33 $1.93 $2.44 $2.86 $3.59 $4.03 $3.91 $4.11
Growth (year on year)
Revenue — +15.8% +15.5% +1.9% −0.6% +4.5% +13.7% +16.8% +4.3% +10.3% −2.9% +10.5% +29.8% +20.7% −1.7% +6.0% +11.2% +9.0%
EBITDA — −13.3% +11.4% −18.3% +14.4% +6.7% +7.5% +27.6% −82.2% +451.0% +8.0% +24.2% +21.4% +21.3% +17.5% +17.1% +9.2% +8.8%
Operating income — −17.7% +9.8% −27.9% +10.9% +8.3% +2.5% +24.1% −130.4% — +13.2% +34.1% +27.4% +23.8% +18.0% +14.6% +1.8% +4.7%
Net income — −14.8% +11.7% −24.5% +5.7% +6.2% −5.6% +24.3% −140.7% — +16.1% +44.5% +25.8% +16.5% +25.5% +11.9% −3.3% +3.2%
Diluted EPS — −15.5% +11.2% −25.7% +5.6% +5.8% −5.0% +23.8% −140.4% — +16.7% +45.1% +26.4% +17.2% +25.5% +12.3% −3.0% +3.5%
Margins
Gross margin 25.1% 20.8% 19.2% 16.2% 17.7% 18.1% 19.4% 20.3% 17.2% 17.2% 18.7% 20.7% 18.9% 17.7% 21.1% 23.1% 22.6% 22.4%
EBITDA margin 17.6% 13.1% 12.7% 10.2% 11.7% 11.9% 11.3% 12.3% 2.1% 10.5% 11.7% 13.2% 12.3% 12.4% 14.8% 16.3% 16.0% 16.0%
Operating margin 15.1% 10.7% 10.2% 7.2% 8.1% 8.4% 7.5% 8.0% −2.3% 6.6% 7.7% 9.4% 9.2% 9.4% 11.3% 12.2% 11.2% 11.1%
Net margin 9.3% 6.8% 6.6% 4.9% 5.2% 5.3% 4.4% 4.7% −1.8% 4.4% 5.3% 6.9% 6.7% 6.4% 8.2% 8.7% 7.5% 7.5%
Free-cash-flow margin 11.8% 5.4% 4.0% 2.5% 6.4% 1.7% 2.9% 4.8% 1.5% 6.4% 6.4% 3.9% 1.8% 3.1% 13.0% 7.2% 7.9% 8.1%
Cash flow
Cash from operations 39 29 34 35 35 21 36 45 27 48 59 44 43 77 159 111 144 149
Capital spending 8 12 20 27 12 15 24 22 20 13 25 21 29 48 40 41 58 56
Free cash flow 30 16 14 9 22 6 12 23 8 35 34 23 14 29 119 70 86 93
Stock-based pay 1 2 1 2 1 2 2 2 1 2 2 3 4 4 5 6 9 8
Free cash flow after stock pay 30 14 12 7 21 4 10 21 6 33 32 20 11 25 114 64 78 84
Balance sheet
Cash 19 19 29 29 33 19 20 7 5 9 4 3 3 8 7 5 4 7
Total debt — 0 0 0 0 0 130 103 101 85 60 99 126 112 99 159 244 229
Net debt (negative = net cash) −19 −19 −29 −29 −33 −19 110 96 96 76 56 96 123 104 92 154 240 222
Diluted shares 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m 21m
Returned to shareholders
Dividends 7 7 6 7 7 8 8 9 9 12 10 10 11 12 13 15 16 16
Buybacks — — — 0 0 2 5 0 0 4 6 4 9 7 11 21 0 19
Total returned 7 7 6 7 7 10 13 9 9 16 16 14 20 19 25 35 16 35

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 6 checks passed · September 27, 2026
What it owns · $1.0bn
Short-term assets $257mLonger-term assets $755m
What it owes, and who funded it · $1.0bn
Short-term liabilities $113mLonger-term liabilities $336mShareholders' equity $564m
  • Short-term assets cover short-term liabilities $257m of assets due within a year against $113m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $257m short-term assets against $336m of longer-dated liabilities.
  • More cash than debt $7m of cash against $229m of debt.
  • Debt below 40% of shareholders' equity Debt is 41% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 38% to 41% over five years.
  • A year's operating cash flow covers at least 20% of debt $149m of operating cash flow against $229m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Hawkins Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$18.6M
Dividends (TTM)
$16.1M
Returned to shareholders
38%
of free cash flow
Buybacks, last 3 fiscal years
$31.9M
Diluted share count
−0.2%
year over year
Total shareholder yield
1.1%
dividends 0.5% + buybacks 0.6% of market value
Dividend payout ratio
19%
of net income paid out
Sales & admin spending
11.3%
of revenue
Days sales outstanding
48 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in specialty chemicals
Last 12 months unless stated HWKN BCPC ALTO ECVT PRM SXT Median
Revenue, last 12 months $1.1bn $1.1bn $943m $869m $757m $1.7bn $906m
Revenue growth, last 12 months 9.0% 9.4% 1.1% 39.8% 24.2% 9.5% 5.4%
Revenue growth, 3-year average 6.8% 6.2% −10.1% 4.6% 33.0% 6.3% 0.9%
Revenue growth, latest quarter 11.9% 8.6% 12.5% 42.0% 31.5% 10.6% 8.3%
Gross margin 22.4% 36.5% 6.8% 21.3% 54.7% 35.1% 28.8%
Operating margin 11.1% 20.7% 3.8% 9.4% −50.6% 14.5% 4.3%
Operating margin, 3-year average 11.6% 19.8% −1.8% 11.8% −13.6% 12.7% 5.5%
Net margin 7.5% 15.4% 5.5% −7.1% −44.9% 9.7% 0.8%
Cash from operations / revenue 13.1% 20.2% 6.9% 17.1% 16.9% 6.9% 6.9%
Free-cash-flow margin 8.1% 15.8% 5.3% 8.3% 12.8% −1.0% 4.3%
Free-cash-flow margin, 3-year average 8.1% 15.6% 1.4% 12.9% 19.9% 3.3% 5.1%
Stock pay / revenue 0.7% 1.8% 0.3% 1.2% 2.3% 1.0% 1.0%
Change in share count −0.2% −1.6% 4.0% −3.5% 6.7% 0.5% 0.1%

Median of all 42 companies we cover in specialty chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 specialty chemicals companies
Measure Company Peer median Rank
Revenue growth Growth 9.0% 6.0% 13 of 42
Change in growth rate Growth -0.3pp +1.3pp 28 of 42
Gross margin Profitability 22.4% 31.5% 28 of 40
Operating margin Profitability 11.1% 3.8% 9 of 39
Net margin Profitability 7.5% 1.7% 9 of 42
Free-cash-flow margin Cash generation 8.1% 4.8% 11 of 42
Stock pay as % of revenue Cash generation 0.7% 1.0% 15 of 36
Long-term debt as % of assets Balance sheet 22.6% 26.8% 16 of 36
Change in share count Balance sheet -0.2% 0.0% 16 of 37
Days sales outstanding Balance sheet 48 days 59 days 10 of 30

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 29, 2026
Segments
Line of business Revenue Share YoY
Water Treatment $543M 50.1% ▲ 21.7%
Food and Health Sciences $321M 29.6% ▼ 0.6%
Industrial Solutions $220M 20.3% ▲ 7.0%
Products and services
Line of business Revenue Share YoY
Manufacturedblendedorrepackagedproducts $656M 60.6% ▲ 18.7%
Nutrition $138M 12.7% ▼ 4.5%
Food $99.3M 9.2% ▼ 4.0%
Bulk $96.2M 8.9% ▲ 9.4%
Agricultural $52.6M 4.9% ▲ 15.0%
Pharmaceutical $27.9M 2.6% ▲ 7.8%
Other $13.5M 1.2% ▼ 4.9%

From Hawkins Inc's 10-K filed May 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.3B
Institutions reporting
333
Shares held vs prior quarter
▼ 1.0%
Positions opened / closed
48 / 27

Top buyers and sellers, Q2 2026: 160 institutions bought and 135 sold ; the biggest buyer was Giverny Capital Inc (+95K shares) and the biggest seller Westwood Holdings Group Inc (−126K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $449M 3.2M 19.4% ▲ 1.7%
Kayne Anderson Rudnick Investment Management LLC $203M 1.4M 8.8% ▼ 6.4%
State Street Corp $151M 1.1M 6.5% ▲ 1.7%
Vanguard Capital Management LLC $121M 854K 5.2% ▲ 0.3%
Geode Capital Management, LLC $77.8M 548K 3.4% ▲ 5.0%
Vanguard Portfolio Management LLC $77.4M 545K 3.3% ▲ 3.9%
Dimensional Fund Advisors LP $73.1M 515K 3.2% ▲ 0.2%
Bowen Hanes & Co Inc $58.4M 381K 2.5% 0.0%
Wasatch Advisors LP $55.4M 390K 2.4% ▼ 17.1%
Capital World Investors $40.9M 288K 1.8% ▲ 2.8%
Northern Trust Corp $39.2M 276K 1.7% ▲ 5.0%
Charles Schwab Investment Management Inc $34.3M 241K 1.5% ▲ 0.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Hawkins Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $850,934 5 trades by 4 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $850,934 net buying
Insider Date Trade Shares Price Value
Oldenkamp Jeffrey P. EXECUTIVE VP AND CFO August 27, 2026 Buy 1,290 $119.00 $153,510
Lange Douglas A. VP - WATER TREATMENT GROUP August 25, 2026 Buy 910 $118.75 $108,062
Faulconbridge James A Director February 5, 2026 Buy 1,500 $129.95 $194,925
Faulconbridge James A Director February 4, 2026 Buy 1,500 $129.29 $193,935
Grahek Drew M. VICE PRESIDENT OF OPERATIONS November 3, 2025 Buy 1,587 $126.34 $200,502

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 27, 2027 estimated from the company's past filing pattern, not announced

  • October 26, 2026
  • July 29, 2026
  • May 13, 2026
  • January 28, 2026
  • October 29, 2025
  • July 30, 2025

Recent SEC filings

Data status

When each part of this page on Hawkins Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Hawkins Inc in brief

What does Hawkins Inc do?
Hawkins Inc is a US-listed company in the specialty chemicals industry. Its financial year ends in March.
What is Hawkins Inc's stock ticker?
Hawkins Inc trades under the ticker HWKN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Hawkins Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Hawkins Inc reported revenue of $1.1B, 9.0% higher than a year earlier, according to its SEC filings.
What is Hawkins Inc's free cash flow?
Hawkins Inc's free-cash-flow margin is 8.1% of revenue over the trailing twelve months, ranking 11 of the 42 specialty chemicals companies we cover.
What is Hawkins Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Hawkins Inc's free cash flow after stock-based pay gives ~$83 per share in the base case, and ~$60–$110 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Hawkins Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Kayne Anderson Rudnick Investment Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Hawkins Inc buying back stock, and does it pay a dividend?
Hawkins Inc spent $18.6M on share repurchases over the trailing twelve months, and its diluted share count fell 0.2% over the year.
What is Hawkins Inc's market cap?
On November 2, 2026, Hawkins Inc's market capitalisation was about $3.2B, with a price-to-earnings ratio of 37.0 and net debt of $222M. Market figures come from third-party market data and may be delayed.
Does Hawkins Inc pay a dividend?
Yes: Hawkins Inc paid $16.1M in dividends over the trailing twelve months, a dividend yield of 0.51% and a payout ratio of 18.7%.
How much debt does Hawkins Inc have?
Hawkins Inc's debt-to-equity ratio is 40.6%, from its latest balance sheet (38.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Hawkins Inc's competitors?
In our Specialty Chemicals peer group, the companies closest to Hawkins Inc are Balchem Corp, Alto Ingredients, Inc., Ecovyst Inc., Perimeter Solutions, Inc. and Sensient Technologies Corp. The side-by-side comparison below sets their revenue, margins and growth against Hawkins Inc's.
Are insiders buying or selling Hawkins Inc stock?
Over the last 12 months, Hawkins Inc's directors and officers reported 5 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Hawkins Inc's next earnings date?
Around January 27, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Hawkins Inc announces its own schedule.