Hawkins vs Koppers
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The short version
- Koppers is the larger business, with $1.9B of revenue in fiscal 2025 against $1.1B for Hawkins, about 1.7 times as much.
- Hawkins grew revenue faster (11.2%, against −10.2%).
- Hawkins kept more of each dollar of sales as operating profit (11.2% operating margin, against 8.9%).
- Hawkins turned more of its sales into free cash flow (7.9% FCF margin, against 3.6%).
- Hawkins earned a higher return on the capital invested in it (13.1%, against 8.1%).
| Latest fiscal year | HWKN · FY26 | KOP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.8B | $767M |
| Revenue | $1.1B | $1.9B |
| Free cash flow | $86.1M | $67.5M |
| Net income | $81.5M | $56.0M |
| Growth | ||
| Revenue growth | 11.2% | −10.2% |
| 5-year growth | 12.7% | 2.4% |
| Share count change | −0.4% | −4.2% |
| Profitability | ||
| Gross margin | 22.6% | 23.8% |
| Operating margin | 11.2% | 8.9% |
| Net margin | 7.5% | 3.0% |
| FCF margin | 7.9% | 3.6% |
| Return on capital | 13.1% | 8.1% |
| Return on equity | 16.4% | 10.5% |
| Balance sheet | ||
| Net debt | $240M | $890M |
| Net debt / EBITDA | 1.4x | 3.7x |
| Dividends and buybacks | $15.7M | $44.6M |
| Valuation & quality | ||
| P/E | 34.3x | — |
| Piotroski F-score | 4 | 8 |
FY17
HWKN $484M
KOP $1.5B
FY18
HWKN $504M
KOP $1.6B
FY19
HWKN $556M
KOP $1.6B
FY20
HWKN $540M
KOP $1.7B
FY21
HWKN $597M
KOP $1.7B
FY22
HWKN $775M
KOP $2.0B
FY23
HWKN $935M
KOP $2.2B
FY24
HWKN $919M
KOP $2.1B
FY25
HWKN $974M
KOP $1.9B
FY26
HWKN $1.1B
KOP —
HWKN
KOP
FY17
HWKN 8.0%
KOP 8.4%
FY18
HWKN −2.3%
KOP 5.4%
FY19
HWKN 6.6%
KOP 7.6%
FY20
HWKN 7.7%
KOP 9.4%
FY21
HWKN 9.4%
KOP 9.3%
FY22
HWKN 9.2%
KOP 7.0%
FY23
HWKN 9.4%
KOP 9.1%
FY24
HWKN 11.3%
KOP 7.1%
FY25
HWKN 12.2%
KOP 8.9%
FY26
HWKN 11.2%
KOP —
HWKN
KOP
FY17
HWKN $23.2M
KOP $34.3M
FY18
HWKN $7.7M
KOP −$31.4M
FY19
HWKN $35.4M
KOP $78.1M
FY20
HWKN $34.4M
KOP $57.3M
FY21
HWKN $23.0M
KOP −$22.0M
FY22
HWKN $14.3M
KOP −$3.0M
FY23
HWKN $29.1M
KOP $25.6M
FY24
HWKN $119M
KOP $42.0M
FY25
HWKN $70.0M
KOP $67.5M
FY26
HWKN $86.1M
KOP —
HWKN
KOP
FY17
HWKN 7.8%
KOP 9.0%
FY18
HWKN −3.0%
KOP 4.8%
FY19
HWKN 9.1%
KOP 12.1%
FY20
HWKN 10.4%
KOP 11.9%
FY21
HWKN 12.6%
KOP 9.9%
FY22
HWKN 13.4%
KOP 7.8%
FY23
HWKN 14.6%
KOP 11.3%
FY24
HWKN 16.3%
KOP 7.8%
FY25
HWKN 16.0%
KOP 8.1%
FY26
HWKN 13.1%
KOP —
HWKN
KOP
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.