HWKN
Hawkins, Inc.Basic Materials·Chemicals - Specialty
$154.77
$3.2B market cap
Revenue
$1.1B
Free Cash Flow
$86.1M
Rev Growth
+8.4%
FCF Margin
7.9%
P/FCF
37.5x
EV/FCF
40.5x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Hawkins, Inc. blends, manufactures, and distributes chemicals and other specialty ingredients in the United States and internationally. It operates through three segments: Industrial, Water Treatment, and Health and Nutrition. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries. This segment primarily provides acids, alkalis, and food-grade and pharmaceutical salts and in
2-Year Price History
$153.14+77.1%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q4 | 265.9 | 35.6 | 22.1 | 15.5 | 37.7 | 18.2 | -19.6 | 3.9 | 261.5 | 20.9 | 14.8% | 12.0x | 20.4x |
| Act | 2026-Q3 | 244.1 | 32.3 | 18.8 | 14.3 | 35.6 | 21.2 | -14.3 | 8.2 | 278.3 | 20.8 | 11.3% | 9.4x | 19.8x |
| Act | 2026-Q2 | 280.4 | 47.7 | 34.5 | 22.6 | 39.5 | 28.7 | -10.8 | 10.4 | 293.3 | 20.9 | 21.7% | 12.5x | -- |
| Act | 2026-Q1 | 293.3 | 52.0 | 39.8 | 29.2 | 31.5 | 18.0 | -13.5 | 14.5 | 308.7 | 20.8 | 24.9% | 15.9x | -- |
| Act | 2025-Q4 | 245.3 | 35.5 | 24.9 | 16.3 | 30.8 | 19.8 | -11.1 | 5.1 | 159.7 | 20.9 | 24.3% | 23.3x | -- |
Historical Valuation
Multiples vs the company's own history — cheap or rich relative to itself? Historical fiscal years, then TTM, then forward projections (E). Forward rows hold today's price against projected earnings, so the multiple compresses if the company grows into it.
| Year | Price | Rev Gr | EBITDA % | EBITDA | EV/EBITDA | EV/FCF | P/E | P/S |
|---|---|---|---|---|---|---|---|---|
| 2026 | 153.14 | — | 15.5% | 168 | 20.5× | 39.9× | 39.0× | 2.9× |
| TTM | 154.77 | +1.9% | 15.5% | 168 | 0.0× | 0.0× | 0.0× | 0.0× |
EBITDA in reporting-currency $M. Historical multiples use year-end market cap (split-adjusted price history); TTM & forward years use today's.
Valuation & Metrics
Market Stats
Price$154.77
Market Cap$3.2B
Enterprise Value$3.5B
P/S Ratio3.0x
P/FCF37.5x
EV/FCF40.5x
FCF Margin (TTM)7.9%
FCF Yield2.7%
Dividend Yield (TTM)0.6%
Annual Dilution0.1%
CurrencyUSD
TTM Financial Snapshot
Revenue$1.1B
Net Income$81.5M
Free Cash Flow$86.1M
Revenue Growth (YoY)+8.4%
EBITDA Margin15.5%
Net Margin7.5%
FCF Margin7.9%
CapEx % of Revenue5.4%
SBC % of Revenue1.2%
ROIC18.2%
WC Change % Rev-0.2%
Interest Coverage12.4x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.0M
Days to Cover5.0
Change (vs Prior)-16.6%
Need at least 2 settlement dates for chart
Employees
Headcount928
Revenue / Employee$1,167,776
Gross Profit / Employee$264,068
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
45.2%(+19.2% YoY)
296 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
33.7%(+10.7% YoY)
12 filers
Vanguard, iShares, SPDR
Market makers
0.3%(-0.0% YoY)
5 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $477M | $128.65 | −$16.0M | −$1.1M | -0.2% | $5.69T |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $234M | $164.61 | +$58.3M | +$233M | -0.8% | $34.05B |
| STATE STREET CORPPassive | $160M | $106.41 | −$3.6M | +$6.3M | -0.2% | $2.89T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $131M | $153.60 | +$131M | +$131M | — | $4.04T |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $80.6M | $153.60 | +$80.6M | +$80.6M | — | $1.91T |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $80.1M | $90.72 | +$1.2M | +$7.4M | +2.3% | $1.61T |
| DIMENSIONAL FUND ADVISORS LPPassive | $78.9M | $39.89 | −$1.9M | −$22.5M | -0.4% | $480.92B |
| WASATCH ADVISORS INC | $72.1M | $129.27 | −$12.7M | +$10.8M | -2.9% | $14.87B |
| BOWEN HANES & CO INC | $58.4M | $96.46 | +$2.4M | +$11.3M | -0.1% | $4.11B |
| WESTWOOD HOLDINGS GROUP INC | $53.8M | $91.53 | −$8.8M | −$38.2M | -0.3% | $13.73B |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | $48.4M | $124.95 | −$10.5M | −$5.4M | -0.4% | $9.95B |
| Capital World Investors | $43.0M | $167.67 | −$30.4M | +$43.0M | +0.3% | $732.46B |
| NORTHERN TRUST CORPPassive | $40.4M | $146.39 | +$1.5M | +$5.7M | -0.2% | $755.34B |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $36.9M | $87.23 | +$177K | +$1.1M | +0.7% | $645.81B |
| Invesco Ltd. | $35.6M | $109.60 | −$23.8M | +$6.7M | -0.2% | $652.04B |
| MORGAN STANLEY | $32.7M | $56.47 | −$1.8M | −$2.0M | -0.3% | $1.65T |
| FIRST TRUST ADVISORS LP | $28.7M | $51.73 | +$331K | −$8.8M | +0.1% | $139.72B |
| LONDON CO OF VIRGINIA | $26.8M | $153.60 | +$26.8M | +$26.8M | +0.6% | $16.23B |
| CONGRESS ASSET MANAGEMENT CO | $25.4M | $147.02 | +$2.0M | +$25.4M | -0.4% | $13.95B |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $25.4M | $144.06 | +$4.7M | +$25.4M | -0.4% | $30.11B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.42%
avg per quarter
Holders (ex-self)
-0.43%
excl. this stock
Buyers (this Q)
-0.32%
151 buyers · $0.48B in
Sellers (this Q)
-0.20%
108 sellers · $0.07B out
alpha coverage: 91% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-2.8%
how holders react when this stock falls
On quiet Qs
-15.0%
−10% to +10% baseline
On rallies (+10%+)
-16.0%
how they react when this stock rises
Holders' portfolio flow this Q
+0.4%
inflows — adds are organic
Sellers' portfolio flow this Q
+7.1%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.9%
Holder mid (any stock)
-1.0%
Holder rally (any stock)
-2.4%
Biggest decreases this quarter
Capital World Investors−$30.4Mα+0.3Invesco Ltd.−$23.8Mα-0.2BlackRock, Inc.−$16.0Mα-0.2FULLER & THALER ASSET MANAGEMENT, INC.−$15.7Mα-0.1WASATCH ADVISORS INC−$12.7Mα-2.9VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.−$10.5Mα-0.4WESTWOOD HOLDINGS GROUP INC−$8.8Mα-0.3OBERWEIS ASSET MANAGEMENT INC/exited−$6.6MSTATE STREET CORP−$3.6Mα-0.2RENAISSANCE TECHNOLOGIES LLCexited−$2.9M
New buyers this quarter
Top-5 holders · 43.0%
BlackRock, Inc.--
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC--
STATE STREET CORP--
VANGUARD CAPITAL MANAGEMENT LLC--
VANGUARD PORTFOLIO MANAGEMENT LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC1.5MWASATCH ADVISORS INC470KInvesco Ltd.232KCapital World Investors280KVAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.315KWESTWOOD HOLDINGS GROUP INC350KBOWEN HANES & CO INC381KPRICE T ROWE ASSOCIATES INC /MD/55KFULLER & THALER ASSET MANAGEMENT, INC.147KLORD, ABBETT & CO. LLC—
Analyst Coverage
Analyst Coverage
Analyst Ratings
1
Buy: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$589K
3 txns · 2 insiders · 4,587 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-02-05 | BUY | Faulconbridge James A | director | 1,500 | $129.95 | $195K | $6.81M |
| 2026-02-04 | BUY | Faulconbridge James A | director | 1,500 | $129.29 | $194K | $6.58M |
| 2025-11-03 | BUY | Grahek Drew M. | officer: VICE PRESIDENT OF OPERATIONS | 1,587 | $126.34 | $201K | $5.01M |
Order Flow (FINRA, ~3w lag)
8.2%retail-0.8pp
21.2%dark-1.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Hawkins, Inc.: Inorganic Growth Masking Organic Decay and Rising Leverage
Overall Risk
6/10
Fraud
3/10
Dilution
2/10
Insolvency
4/10
Earnings Overstated
5/10
Hidden Liabilities
5/10
Legal
4/10
Audit Warnings
2/10
Hidden Upside
4/10
Contextually Acceptable
6/10