Hawkins vs Royal Gold
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KIRA’s take AI analyst
I put Hawkins and Royal Gold 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 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%).
- 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 35.1x against 25.9x for Royal Gold.
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Hawkins
HWKN
3/10
Return on capitalReturn on equityShare count change
Royal Gold
RGLD
7/10
Revenue growth5-year growthGross marginOperating marginNet marginPiotroski F-scoreNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | HWKN FY26 | RGLD FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.8B | $19.9B |
| 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 | 35.1x | 25.9x |
| Piotroski F-score | 4 | 6 |
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.