Balchem vs Hawkins
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KIRA’s take AI analyst
I put Balchem and Hawkins side by side, using each one’s latest annual report. Here is what stands out:
- Hawkins is the larger business, with $1.1B of revenue in fiscal 2026 against $1.0B for Balchem.
- Hawkins grew revenue faster (11.2%, against 8.8%).
- Balchem kept more of each dollar of sales as operating profit (20.2% operating margin, against 11.2%).
- Balchem turned more of its sales into free cash flow (16.7% FCF margin, against 7.9%).
- Investors pay more for each dollar of Hawkins’s earnings: a P/E of 34.3x against 33.3x for Balchem.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Balchem
BCPC
4/8
Gross marginOperating marginNet marginFCF margin
Hawkins
HWKN
4/8
Revenue growth5-year growthReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | BCPC FY25 | HWKN FY26 |
|---|---|---|
| Size | ||
| Market cap | $5.7B | $2.8B |
| Revenue | $1.0B | $1.1B |
| Free cash flow | $173M | $86.1M |
| Net income | $155M | $81.5M |
| Growth | ||
| Revenue growth | 8.8% | 11.2% |
| 5-year growth | 8.1% | 12.7% |
| Share count change | −0.4% | −0.4% |
| Profitability | ||
| Gross margin | 35.7% | 22.6% |
| Operating margin | 20.2% | 11.2% |
| Net margin | 14.9% | 7.5% |
| FCF margin | 16.7% | 7.9% |
| Return on capital | — | 13.1% |
| Return on equity | 12.9% | 16.4% |
| Balance sheet | ||
| Net debt | — | $240M |
| Net debt / EBITDA | — | 1.4x |
| Dividends and buybacks | $136M | $15.7M |
| Valuation & quality | ||
| P/E | 33.3x | 34.3x |
| Piotroski F-score | — | 4 |
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.