Hawkins vs Koppers
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KIRA’s take AI analyst
I put Hawkins and Koppers side by side, using each one’s latest annual report. Here is what stands out:
- 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%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Hawkins
HWKN
8/11
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityNet debt / EBITDA
Koppers
KOP
3/11
Gross marginPiotroski F-scoreShare count change
Side by side
Best in the row
| Latest fiscal year | HWKN FY26 | KOP FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.8B | $761M |
| 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 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.

