Hawesko currently appears to be fairly to cheaply valued, with a solid dividend yield but weak price momentum and only moderate operating growth.
The market is pricing the stock relatively conservatively, with a forward P/E ratio of 10.39 and an EV/EBIT ratio of 13.93.
Earnings and EBIT
Hawesko preliminarily reported revenue of 637 million euros and EBIT of 32 million euros for 2024, and described itself in February 2025 as “more resilient than the overall market.”
For the first quarter of 2026, the company reported an increase in earnings and margins.
GuruFocus reports an operating margin of 3.01 percent, a net margin of 1.53 percent, and an EBIT/EBITDA profile for Hawesko that appears solid overall but not outstanding.
Dividend
For 2025, the annual shareholders’ meeting approved a dividend of 1.30 euros per share; for 2026, a dividend of 1.00 euros per share was announced, according to the report.
This corresponds to an attractive yield, but the payout does not appear particularly comfortable given a TTM payout ratio of 106.02 percent.
The dividend history also shows recent declines rather than growth.
Price and Momentum
The 52-week range was most recently between 22.3 and 31.6 euros; the 20-day SMA stood at 24.24 euros.
The 12-1-month momentum stands at -16.38 percent, indicating a weak price trend.
The stock is therefore not expensive from a fundamental perspective, but is clearly under pressure in the market.
Fair Value
The model signals point more toward a discount than an overvaluation: Price/GF Value at 0.67 and Price/DCF (FCF-based) at 0.40 are clearly below 1.0.
At the same time, the forward P/E ratio of 10.39 is at a level that seems quite reasonable for a stable dividend stock.
This results in a fair value that is slightly undervalued, provided Hawesko stabilizes its margins and improves its earnings growth.
Overall Assessment
Hawesko is fundamentally sound but not a growth star: its valuation and dividend appear attractive, while its earnings and share price momentum are rather subdued. My conclusion would be: valued at a level that is fair to slightly undervalued, with a good dividend profile but limited momentum and only a moderate operating margin.
