Hawkins, Inc. (HWKN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+16.5%

$177.26

vs $152.11 price

Levered DCF

$255.88

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

6.71

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	38.58×	26.15×	20.67×	15.32×	17.88×	16.58×	13.54×	16.19×
P/B	5.89×	4.79×	3.83×	2.63×	3.05×	2.56×	1.64×	1.82×
P/S	2.9×	2.26×	1.69×	0.98×	1.19×	1.14×	0.71×	0.71×
EV / EBITDA	19.39×	14.78×	12.08×	8.96×	11.04×	9.84×	7.11×	8.05×
Gross margin	20.6%	21.8%	21.1%	17.7%	18.9%	20.7%	18.7%	17.2%
Operating margin	10.6%	12.4%	11.3%	9.4%	9.2%	9.4%	7.7%	6.6%
Net margin	7.5%	8.7%	8.2%	6.4%	6.7%	6.9%	5.3%	4.4%
Current ratio	2.21×	2.15×	1.96×	2.55×	2.24×	2.31×	2.11×	2.52×
Debt / equity	0.49×	0.35×	0.27×	0.34×	0.45×	0.42×	0.29×	0.39×
Interest coverage	8.52×	22.19×	24.3×	16.84×	50.71×	38.09×	16.6×	10.95×
Dividend yield	0.5%	0.7%	0.9%	1.3%	1.2%	1.5%	2.6%	3.0%
Payout ratio	19.2%	17.4%	17.6%	20.0%	21.5%	24.5%	34.6%	49.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	15.3%	18.3%	18.6%	17.2%	17.0%	15.4%	12.1%	11.2%
Return on invested capital	9.5%	13.2%	13.4%	12.3%	11.0%	9.7%	8.8%	7.9%
Return on assets	8.1%	11.0%	11.2%	10.0%	9.1%	8.5%	7.2%	6.3%
Free cash flow yield	2.7%	3.2%	7.7%	3.2%	1.6%	3.4%	8.9%	8.9%
Earnings yield	2.6%	3.8%	4.8%	6.5%	5.6%	6.0%	7.4%	6.2%
Enterprise value	$3.4B	$2.4B	$1.7B	$1B	$1.1B	$787.3M	$448.6M	$472.2M
Net debt / EBITDA	1.47×	0.99×	0.74×	0.98×	1.39×	1.34×	1.02×	1.29×
Cash conversion cycle (days)	55	61	55	67	74	76	62	67