Hawkins, Inc. operates as a water treatment and specialty ingredients company in the United States. The company operates through three segments: Water Treatment, Industrial, and Health and Nutrition. The Water Treatment segment provides chemicals, products, equipment, services, and solutions for potable water, municipal and industrial wastewater, industrial process water, non-residential swimming pool water, and agriculture water. The Industrial segment offers industrial chemicals, products, and services to agriculture, chemical processing, electronics, energy, food, pharmaceutical, and plating industries. This segment manufactures sodium hypochlorite and agricultural products, as well as various food-grade and pharmaceutical products, such as liquid phosphates, lactates, other blended products, and agricultural products; and receives, stores, and distributes various chemicals comprising liquid caustic soda, sulfuric acid, hydrochloric acid, urea, phosphoric acid, aqua ammonia, and potassium hydroxide. It also repackages water treatment chemicals and bulk industrial chemicals; and performs custom blending of chemicals. The Health and Nutrition segment offers ingredient distribution, processing, and formulation solutions to manufacturers of nutraceutical, functional food and beverage, personal care, dietary supplement and other nutritional food, and health and wellness products. This segment offers minerals, vitamins and amino acids, excipients, joint products, botanicals and herbs, sweeteners, and enzymes. Hawkins, Inc. was founded in 1938 and is headquartered in Roseville, Minnesota.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2026
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2026 | $1.1B | $175M | $82M | $86M | 15.3% | 11.2% | -3.3% |
| 2025 | $974M | $160M | $84M | $70M | 18.3% | 6.0% | 11.9% |
| 2024 | $919M | $137M | $75M | $119M | 18.6% | -1.7% | 25.5% |
| 2023 | $935M | $115M | $60M | $29M | 17.2% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 935.10 | 919.16 | 974.43 | 1,083.70 |
| Operating Revenue | - | 918.58 | 905.90 | 960.23 | 1,070.18 |
| Cost Of Revenue | - | 769.98 | 725.53 | 748.89 | 838.64 |
| Gross Profit | - | 165.12 | 193.64 | 225.54 | 245.06 |
| Operating Expense | - | 76.97 | 89.60 | 106.36 | 123.76 |
| Selling General And Administration | - | 76.97 | 89.60 | 106.36 | 123.76 |
| Total Expenses | - | 846.95 | 815.13 | 855.26 | 962.40 |
| Operating Income | - | 88.15 | 104.04 | 119.17 | 121.29 |
| Total Operating Income As Reported | - | 88.15 | 104.04 | 119.17 | 121.29 |
| EBITDA | - | 115.26 | 137.23 | 159.76 | 175.39 |
| Normalized EBITDA | - | 115.26 | 137.23 | 159.76 | 175.39 |
| EBIT | - | 87.82 | 105.43 | 119.82 | 122.85 |
| Interest Expense | - | 5.23 | 4.28 | 5.43 | 13.51 |
| Net Interest Income | - | -5.23 | -4.28 | -5.43 | -13.51 |
| Other Non Operating Income Expenses | - | -0.33 | 1.39 | 0.64 | 1.55 |
| Other Income Expense | - | -0.33 | 1.39 | 0.64 | 1.55 |
| Interest Expense Non Operating | - | 5.23 | 4.28 | 5.43 | 13.51 |
| Net Non Operating Interest Income Expense | - | -5.23 | -4.28 | -5.43 | -13.51 |
| Pretax Income | - | 82.58 | 101.14 | 114.38 | 109.34 |
| Tax Provision | - | 22.54 | 25.78 | 30.04 | 27.79 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Net Income From Continuing And Discontinued Operation | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Net Income From Continuing Operation Net Minority Interest | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Net Income | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Net Income Common Stockholders | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Net Income Including Noncontrolling Interests | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Normalized Income | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Diluted NI Availto Com Stockholders | - | 60.04 | 75.36 | 84.34 | 81.55 |
| Basic Average Shares | 20.95 | 20.85 | 20.86 | 20.80 | - |
| Diluted Average Shares | 21.14 | 21.01 | 21.01 | 20.94 | - |
| Reconciled Depreciation | - | 27.44 | 31.80 | 39.95 | 52.54 |
| Reconciled Cost Of Revenue | - | 769.98 | 725.53 | 748.89 | 838.64 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Hawkins, Inc.this co. | HWKN | $3.2B | 39.04β premium | 5.96 | 15.3% | 19.62 |
| H.B. Fuller Company | FUL | $3.3B | 21.64 | 1.64 | 7.6% | 9.98 |
| The Chemours Company | CC | $3.3B | - | 13.03 | -154.4% | 21.03 |
| Kaiser Aluminum Corporation | KALU | $3.1B | 27.14 | 3.70 | 13.6% | 12.82 |
| Alpha Metallurgical Resources, Inc. | AMR | $2.7B | -44.36 |
| - |
| - |
| - |
| - |
| 1.77 |
| -4.0% |
| 24.96 |
| WD-40 Company | WDFC | $2.7B | 30.11 | 10.19 | 33.8% | 24.47 |
| Quaker Chemical Corporation | KWR | $2.4B | -982.03 | 1.78 | -0.2% | 21.93 |
| Boise Cascade Company | BCC | $2.4B | 18.14 | 1.16 | 6.4% | 6.72 |
| Minerals Technologies Inc. | MTX | $2.4B | -129.26 | 1.39 | -1.1% | 22.86 |
| Peer Median | - | 18.14 | 1.77 | 3.1% | 21.48 | |