COMP <GO>

HWKN vs ASH // EV/EBITDA & P/E VALUATION

Hawkins Inc. (NASDAQ) VS. Ashland Inc. (NYSE) • 15-METRIC TALLY: HWKN 4 — ASH 3

■ METRIC PARITY

LAST: $153.73 (-0.21%) • MKT CAP: $3.20B

valuation

20.2x

LAST: $74.38 (+2.35%) • MKT CAP: $3.41B

valuation

—

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (HWKN VS. ASH) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	HWKN	ASH	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	22.60%	30.10%	-7.50	ASH	/gross-margins <GO>
Return on Invested Capital (ROIC)	12.40%	-20.70%	+33.10	HWKN	/roic <GO>
EV/EBITDA & P/E Valuation ACTIVE	20.2x	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	2.69%	—	—	TIE	/fcf-yield <GO>
Operating Margin	11.20%	-42.50%	+53.70	HWKN	/operating-margins <GO>
Net Profit Margin	7.50%	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	11.20%	-13.70%	+24.90	HWKN	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.49%	2.23%	-1.74	ASH	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	6.57	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	7/9	—	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	78.0	66.2	+11.82	HWKN	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	36.5x	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$3.20B	$3.41B	-$209.7M	ASH	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	HWKN REV	ASH REV	HWKN GROSS %	ASH GROSS %	HWKN FCF	ASH FCF
FY 2025	$1.08B	$1.82B	22.6%	30.1%	$86.1M	—
FY 2024	$974.4M	$2.11B	23.1%	29.2%	$70.0M	—
FY 2023	$919.2M	$2.19B	—	—	$159.5M	—

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

HWKN // BETA —

ASH // BETA —