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DCF valuation

What is Hawkins Inc worth?

With the base-case assumptions below, a discounted cash flow model on Hawkins Inc's reported free cash flow gives $106.37 per share. The share price was $153.00 on November 10, 2026, 44% above that value.

Inputs from the filings

Free cash flow, fiscal 2026
$86.1M
Average free cash flow, last 5 years
$63.8M
Cash
$7.1M
balance sheet of September 27, 2026
Debt
$229M
balance sheet of September 27, 2026
Diluted shares, fiscal 2026
20,861,860
Revenue growth per year, last 5 years
12.7%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear7.5%5.0%2.0%10.0%$61.83-60%
Base12.5%7.5%2.5%9.0%$106.37-30%
Bull17.5%10.5%3.0%8.0%$195.11+28%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$140.44$151.00$163.90$180.03$200.77
8.0%$114.90$121.74$129.83$139.54$151.41
9.0%$96.29$100.97$106.37$112.67$120.12
10.0%$82.15$85.48$89.26$93.57$98.54
11.0%$71.08$73.52$76.25$79.32$82.80

Where the presets come from

Base: years 1 to 5 grow at Hawkins Inc's revenue growth rate over the last 5 fiscal years (12.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Hawkins Inc company page