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Hawkins Inc

hawkinsinc.com

Hawkins Inc (NASDAQ: HWKN) is a water treatment and specialty ingredients company that formulates, manufactures, distributes, and blends chemicals and related products across three segments: Water Treatment, Food and Health Sciences, and Industrial Solutions. Revenue is transactional, generated by selling chemicals, filtration media, equipment, and services directly to industrial, municipal, food, and health sciences customers across the United States. As of March 29, 2026, the company operated with approximately 1,200 employees, all based in the United States. Hawkins grows partly through tuck-in acquisitions, completing three deals in fiscal 2026 including Redbird Chemical ($4.6M), StillWaters Technology ($4.3M), and the MakWood lactate business ($1.9M). Patrick H. Hawkins serves as CEO and President, with Jeffrey P. Oldenkamp as CFO. The company's three segments share raw material suppliers and some manufacturing facilities, creating shared purchasing scale across groups.

Products & Services

Water Treatment segment: chemicals, filtration media, systems, equipment, and services for potable water, municipal and industrial wastewater, industrial process water, non-residential swimming pool water, and agricultural water. Industrial Solutions segment: acids and alkalis including liquid caustic soda, sulfuric acid, hydrochloric acid, urea, phosphoric acid, aqua ammonia, and potassium hydroxide, distributed in bulk or repackaged in smaller quantities, with customer blending services. Food and Health Sciences segment: specialty ingredients including lactate products distributed under the Mak Lak trade name (acquired from MakWood, July 2025).

Revenue Model

Transactional product sales of chemicals, filtration media, equipment, and blended specialty ingredients to industrial, municipal, food, and health sciences customers. Revenue is generated across three reportable segments: Water Treatment, Food and Health Sciences, and Industrial Solutions.

Customers & Markets

End markets include municipal water utilities, industrial manufacturers, chemical processors, electronics, energy, plating and surface finishing, food producers, and health sciences companies. Customers span non-residential swimming pool operators, agricultural water users, and industrial wastewater operators. No customer concentration disclosures were provided in the excerpts.

Geographic Exposure

United States only, based on the filing. All approximately 1,200 employees as of March 29, 2026 are located in the United States. Recent acquisitions (Redbird Chemical in eastern Texas, StillWaters Technology in Alabama) indicate a multi-region domestic footprint.

Financial Snapshot

Revenue
TTM
$1.106B
Gross Margin
TTM
22.2%
Net Income
TTM
$80.63M
Current Assets
2026 Q2
Current Liabilities
2026 Q2
Current Ratio
2026 Q2
226.96%
Total Assets
2026 Q2
Total Liabilities
2026 Q2
Book Value
2026 Q2
$548.2M
Cash
2026 Q2
P/E
TTM
33.15
Free Cash Flow
TTM
$91.69M

Stock Price

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Market Cap: $2.6726 Billion

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