Hawkins
HWKN · Commodity Chemicals
$132.32
0.6%Royal Gold
RGLD · Gold
$227.42
3.1%The short version
- Hawkins is the larger business, with $1.1B of revenue in fiscal 2026 against $1.0B for Royal Gold.
- Royal Gold grew revenue faster (43.2%, against 11.2%).
- Royal Gold kept more of each dollar of sales as operating profit (61.9% operating margin, against 11.2% operating margin).
- Hawkins earned a higher return on the capital invested in it (13.1%, against 9.7%).
- Investors pay more for each dollar of Hawkins’s earnings: a P/E of 34.3x against 25.2x for Royal Gold.
| Latest fiscal year | HWKN · FY26 | RGLD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.8B | $19.4B |
| Revenue | $1.1B | $1.0B |
| Free cash flow | $86.1M | — |
| Net income | $81.5M | $466M |
| Growth | ||
| Revenue growth | 11.2% | 43.2% |
| 5-year growth | 12.7% | 15.6% |
| Share count change | −0.4% | 5.8% |
| Profitability | ||
| Gross margin | 22.6% | 69.3% |
| Operating margin | 11.2% | 61.9% |
| Net margin | 7.5% | 45.3% |
| FCF margin | 7.9% | — |
| Return on capital | 13.1% | 9.7% |
| Return on equity | 16.4% | 9.1% |
| Balance sheet | ||
| Net debt | $240M | $662M |
| Net debt / EBITDA | 1.4x | 0.8x |
| Dividends and buybacks | $15.7M | $119M |
| Valuation & quality | ||
| P/E | 34.3x | 25.2x |
| Piotroski F-score | 4 | 6 |
FY17
HWKN $484M
RGLD $441M
FY18
HWKN $504M
RGLD $459M
FY19
HWKN $556M
RGLD $423M
FY20
HWKN $540M
RGLD $499M
FY21
HWKN $597M
RGLD $616M
FY22
HWKN $775M
RGLD $603M
FY23
HWKN $935M
RGLD $606M
FY24
HWKN $919M
RGLD $719M
FY25
HWKN $974M
RGLD $1.0B
FY26
HWKN $1.1B
RGLD —
HWKN
RGLD
FY17
HWKN 8.0%
RGLD 33.1%
FY18
HWKN −2.3%
RGLD −16.2%
FY19
HWKN 6.6%
RGLD 33.3%
FY20
HWKN 7.7%
RGLD 39.9%
FY21
HWKN 9.4%
RGLD 54.8%
FY22
HWKN 9.2%
RGLD 47.0%
FY23
HWKN 9.4%
RGLD 50.1%
FY24
HWKN 11.3%
RGLD 59.8%
FY25
HWKN 12.2%
RGLD 61.9%
FY26
HWKN 11.2%
RGLD —
HWKN
RGLD
FY17
HWKN $23.2M
RGLD —
FY18
HWKN $7.7M
RGLD —
FY19
HWKN $35.4M
RGLD —
FY20
HWKN $34.4M
RGLD —
FY21
HWKN $23.0M
RGLD —
FY22
HWKN $14.3M
RGLD —
FY23
HWKN $29.1M
RGLD —
FY24
HWKN $119M
RGLD —
FY25
HWKN $70.0M
RGLD —
FY26
HWKN $86.1M
RGLD —
HWKN
RGLD
FY17
HWKN 7.8%
RGLD 4.1%
FY18
HWKN −3.0%
RGLD −2.3%
FY19
HWKN 9.1%
RGLD 5.0%
FY20
HWKN 10.4%
RGLD 8.8%
FY21
HWKN 12.6%
RGLD —
FY22
HWKN 13.4%
RGLD —
FY23
HWKN 14.6%
RGLD 8.3%
FY24
HWKN 16.3%
RGLD 11.2%
FY25
HWKN 16.0%
RGLD 9.7%
FY26
HWKN 13.1%
RGLD —
HWKN
RGLD
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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.