NASDAQ · HWKN

Hawkins, Inc.

Basic Materials · Chemicals - Specialty

$122.63▼ 2.17% ($2.72)at close

As of 4:00 PM ET

52-week

$116.05$186.15

Market cap

$2.56B

P/E

What the market price implies · Reverse DCF

To support a price of $122.63, this model requires revenue to grow by 21.17%/yr over the next 10 years, compounded annually.

Historical revenue grew by 8.76%/yr over the past 4 years. The required annual growth rate is 12.41 percentage points higher.

Selected forecast · Base scenario

4.77%/yr · actual 10-year annualized revenue growth

Year 1 growth: 7.47%

Market-implied · Base operating assumptions + edited margins

21.17%/yr · flat 10-year annualized revenue growth

Reverse DCF solves revenue growth itself using Base operating assumptions and your edited margins. Changing forecast growth alone does not change the implied rate. This is a model-implied requirement, not an analyst forecast.

Valuation

Recommended · Revenue & margin DCF

Price used

$122.63

Estimated value / share

$35.52

Base scenario

This estimate is 71.04% below the price used.

USD · TTM ending 2026-06-28

Year 1 growth 7.47% · Ending margin 7.3% · Discount rate 8.71%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-28
Data refreshed: Sep 11, 2026, 5:16 AM UTC · provider

Why this method?

FCFF is positive, but the series is too unstable to anchor a direct cash-flow CAGR and the business still fails the steady-state comparability checks. Use a revenue-and-margin transition model instead of normalizing and compounding current FCFF.

Is FCFF positive and has it been for 3+ consecutive years? 8 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 286.1%.

Do you have 5+ years of positive FCFF history? 8 consecutive positive FCFF years are available.

Is the business model structurally similar to what it should be in 10 years? 10.0-year FCFF CAGR of 23.9% exceeds the 20.0% sustainability threshold — compounding current cash flows at that historical rate would produce an unreliable forward projection.

Price vs Fundamentals

Why The Stock Is Moving

Likely multiple compressionModerate confidence

1Y Price: -28.11%Revenue (TTM): 9.32%FCF (TTM): 13.18%P/FCF: 63rd pct

What changed

The stock fell 28.11% over the last year. Revenue grew 9.32% over the trailing twelve months. Operating margin moved from 11.84% to 10.31%. Free cash flow grew 13.18% over the trailing twelve months.

What the market seems to be pricing

Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.

What would invalidate this read

This read changes if operating margin (currently 10.31%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.

Performance

Return analysis

Company profile

Hawkins, Inc. is an enterprise engaged in the formulation, production, and distribution of chemicals and specialized ingredients, serving both domestic and international markets.

CEOPatrick H. Hawkins

SectorBasic Materials

IndustryChemicals - Specialty

Employees1,200

IPO dateMar 18, 1980

https://www.hawkinsinc.com

Market multiples

Forward P/E—

EV/EBITDA19.39

Enterprise value$3.4B

Stock splits

Mar 2, 2021↑ Forward

Every 1 shares became 2

+100%

Mar 25, 1997↑ Forward

Every 20 shares became 21

+5%

Mar 27, 1996↑ Forward

Every 20 shares became 21

+5%

Mar 27, 1995↑ Forward

Every 10 shares became 11

+10%

Mar 21, 1994↑ Forward

Every 20 shares became 21

+5%

Mar 22, 1993↑ Forward

Every 20 shares became 21

+5%

Mar 23, 1992↑ Forward

Every 20 shares became 21

+5%

Mar 22, 1991↑ Forward

Every 20 shares became 21

+5%

Profitability & growth

Revenue growth7.64%

Gross margin22.3%▼1.2ppvs FY2025

Operating margin10.31%▼1.7ppvs FY2025

ROE15.61%▼0.8ppvs FY2026

Analyst consensus

RatingBuy

Target price$142.00▲15.80%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est $1.23 · Revenue est $302.7M

View

Dividends

$0.39/shareSemi-annualDividend Achiever · 15yrSafe

HWKN pays a dividend with a 0.32% dividend yield, 15 consecutive years of growth, growing at 9.69% annually, covered 5.5× by free cash flow.

Dividend Yield

0.32%

Annual Div / Share

$0.39

TTM $0.77

5yr CAGR

+9.69%

Doubles every ~7.5yr

Payout Ratio

19.7%

Safe

Dividend Growth Rate

3yr CAGR

+9.74%

5yr CAGR

+9.69%

10yr CAGR

+6.61%

Dividend Safety

10/10Safe

Dividend History

Annual dividends paid per share

YearAnnual DivYoY

2025$0.74+8.8%

2024$0.68+9.7%

2023$0.62+10.7%

2022$0.56+10.9%

2021$0.51+8.4%

2020$0.47+1.3%

2019$0.46+3.4%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$3/yr

$0/mo

In 5 yrs

$5/yr+59%

$0/mo

In 10 yrs

$8/yr+152%

$1/mo

Today	In 5 yrs	In 10 yrs
$3/yr $0/mo	$5/yr+59% $0/mo	$8/yr+152% $1/mo

Yield-on-cost grows from 0.32% → 0.8% over 10yr

Analysis

Dividend Strengths

Dividend Achiever

HWKN has raised its dividend for 15 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 5.5× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Strong dividend growth rate

The 5-year CAGR of 9.69% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.

NASDAQ · HWKN

Hawkins, Inc.

Basic Materials · Chemicals - Specialty

$122.63▼ 2.17% ($2.72)at close

As of 4:00 PM ET

52-week

$116.05$186.15

Market cap

$2.56B

P/E

What the market price implies · Reverse DCF

To support a price of $122.63, this model requires revenue to grow by 21.17%/yr over the next 10 years, compounded annually.

Historical revenue grew by 8.76%/yr over the past 4 years. The required annual growth rate is 12.41 percentage points higher.

Selected forecast · Base scenario

4.77%/yr · actual 10-year annualized revenue growth

Year 1 growth: 7.47%

Market-implied · Base operating assumptions + edited margins

21.17%/yr · flat 10-year annualized revenue growth

Valuation

Recommended · Revenue & margin DCF

Price used

$122.63

Estimated value / share

$35.52

Base scenario

This estimate is 71.04% below the price used.

USD · TTM ending 2026-06-28

Year 1 growth 7.47% · Ending margin 7.3% · Discount rate 8.71%

Assumption scenarios, not statistical confidence intervals.

Method, dates & sources

Estimated from future revenue, operating margins, and the investment needed to support them.

Price timestamp: Sep 10, 2026, 8:00 PM UTC
Financial statement period: TTM ending 2026-06-28
Data refreshed: Sep 11, 2026, 5:16 AM UTC · provider

Why this method?

Is FCFF positive and has it been for 3+ consecutive years? 8 consecutive positive FCFF years are available.

Is FCFF stable (not swinging >30% year to year)? The largest recent FCFF swing is 286.1%.

Do you have 5+ years of positive FCFF history? 8 consecutive positive FCFF years are available.

Price vs Fundamentals

Why The Stock Is Moving

Likely multiple compressionModerate confidence

1Y Price: -28.11%Revenue (TTM): 9.32%FCF (TTM): 13.18%P/FCF: 63rd pct

What changed

The stock fell 28.11% over the last year. Revenue grew 9.32% over the trailing twelve months. Operating margin moved from 11.84% to 10.31%. Free cash flow grew 13.18% over the trailing twelve months.

What the market seems to be pricing

Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.

What would invalidate this read

This read changes if operating margin (currently 10.31%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.

Performance

Return analysis

Company profile

Hawkins, Inc. is an enterprise engaged in the formulation, production, and distribution of chemicals and specialized ingredients, serving both domestic and international markets.

CEOPatrick H. Hawkins

SectorBasic Materials

IndustryChemicals - Specialty

Employees1,200

IPO dateMar 18, 1980

https://www.hawkinsinc.com

Market multiples

Forward P/E—

EV/EBITDA19.39

Enterprise value$3.4B

Stock splits

Mar 2, 2021↑ Forward

Every 1 shares became 2

+100%

Mar 25, 1997↑ Forward

Every 20 shares became 21

+5%

Mar 27, 1996↑ Forward

Every 20 shares became 21

+5%

Mar 27, 1995↑ Forward

Every 10 shares became 11

+10%

Mar 21, 1994↑ Forward

Every 20 shares became 21

+5%

Mar 22, 1993↑ Forward

Every 20 shares became 21

+5%

Mar 23, 1992↑ Forward

Every 20 shares became 21

+5%

Mar 22, 1991↑ Forward

Every 20 shares became 21

+5%

Profitability & growth

Revenue growth7.64%

Gross margin22.3%▼1.2ppvs FY2025

Operating margin10.31%▼1.7ppvs FY2025

ROE15.61%▼0.8ppvs FY2026

Analyst consensus

RatingBuy

Target price$142.00▲15.80%

Buy

Hold

Sell

Analyst ratings tend to be lagging indicators. Use as one signal among many.

Earnings

Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.

Next report

Nov 4, 2026

Q4 FY26 · EPS est $1.23 · Revenue est $302.7M

View

Dividends

$0.39/shareSemi-annualDividend Achiever · 15yrSafe

HWKN pays a dividend with a 0.32% dividend yield, 15 consecutive years of growth, growing at 9.69% annually, covered 5.5× by free cash flow.

Dividend Yield

0.32%

Annual Div / Share

$0.39

TTM $0.77

5yr CAGR

+9.69%

Doubles every ~7.5yr

Payout Ratio

19.7%

Safe

Dividend Growth Rate

3yr CAGR

+9.74%

5yr CAGR

+9.69%

10yr CAGR

+6.61%

Dividend Safety

10/10Safe

Dividend History

Annual dividends paid per share

YearAnnual DivYoY

2025$0.74+8.8%

2024$0.68+9.7%

2023$0.62+10.7%

2022$0.56+10.9%

2021$0.51+8.4%

2020$0.47+1.3%

2019$0.46+3.4%

Income Projection

Invest

Growth rate:

Reinvest dividends

Today

$3/yr

$0/mo

In 5 yrs

$5/yr+59%

$0/mo

In 10 yrs

$8/yr+152%

$1/mo

Today	In 5 yrs	In 10 yrs
$3/yr $0/mo	$5/yr+59% $0/mo	$8/yr+152% $1/mo

Yield-on-cost grows from 0.32% → 0.8% over 10yr

Analysis

Dividend Strengths

Dividend Achiever

HWKN has raised its dividend for 15 consecutive years — qualifying as a Dividend Achiever, demonstrating long-term commitment to shareholder income.

Well-covered by free cash flow

The dividend is covered 5.5× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.

Strong dividend growth rate

The 5-year CAGR of 9.69% meaningfully outpaces inflation, compounding real income growth for long-term holders.

Risks to Watch

No strong risk signal stands out from the latest period pair.