Revenue growth remains highly seasonal with operating margins trapped in the low single digits, as seen in the 2026Q1 operating margin of just 1.9%.
| Sales/Revenue | 1.56B | 1.55B | 1.47B | 1.48B | 1.49B | 1.43B | 1.37B | 1.21B | 974.17M |
| Revenue Growth % | 5.49% | 5.41% | -0.26% | -0.66% | 4.23% | 4.21% | 12.68% | 24.66% | - |
| Cost of Goods Sold | 842.45M | 936.98M | 764.69M | 828.96M | 846.55M | 859.56M | 781.82M | 693.88M | 537.88M |
| COGS % of Revenue | - | 60.36% | 51.93% | 56.14% | 56.96% | 60.28% | 57.14% | 57.14% | 55.21% |
| Gross Profit | 720.5M | 615.25M | 707.9M | 647.52M | 639.78M | 566.41M | 586.48M | 520.48M | 436.29M |
| Gross Margin % | 46.1% | 39.64% | 48.07% | 43.86% | 43.04% | 39.72% | 42.86% | 42.86% | 44.79% |
| Gross Profit Growth % | - | -13.09% | 9.33% | 1.21% | 12.95% | -3.42% | 12.68% | 19.3% | - |
| Operating Expenses | 612.85M | 497.71M | 619.1M | 586.59M | 599.88M | 556.1M | 520.71M | 512.79M | 420.48M |
| OpEx % of Revenue | - | 32.06% | 42.04% | 39.73% | 40.36% | 39% | 38.06% | 42.23% | 43.16% |
| Selling, General & Admin | 507.52M | 502M | 488.7M | 452.11M | 480.99M | 437.88M | 399.05M | 382.69M | 317.52M |
| SG&A % of Revenue | - | 32.34% | 33.19% | 30.62% | 32.36% | 30.71% | 29.16% | 31.51% | 32.59% |
| Research & Development | 0 | 1.36M | 0 | 0 | 0 | 0 | 2.88M | 0 | 0 |
| R&D % of Revenue | - | 0.09% | - | - | - | - | 0.21% | - | - |
| Other Operating Expenses | 2M | -5.65M | 130.4M | 134.48M | 118.89M | 118.22M | 118.79M | 130.09M | 0 |
| Operating Income | 107.65M | 117.54M | 88.8M | 60.93M | 39.89M | 10.31M | 65.77M | 7.7M | 31.01M |
| Operating Margin % | 6.89% | 7.57% | 6.03% | 4.13% | 2.68% | 0.72% | 4.81% | 0.63% | 3.18% |
| Operating Income Growth % | - | 32.36% | 45.75% | 52.73% | 286.78% | -84.32% | 754.66% | -75.18% | - |
| EBITDA | 251.22M | 258.64M | 218.84M | 182.57M | 159.9M | 131.04M | 192.68M | 132.26M | 121.64M |
| EBITDA Margin % | 16.07% | 16.66% | 14.86% | 12.37% | 10.76% | 9.19% | 14.08% | 10.89% | 12.49% |
| EBITDA Growth % | 13.79% | 18.19% | 19.87% | 14.17% | 22.02% | -31.99% | 45.68% | 8.73% | - |
| D&A (Non-Cash Add-back) | 143.57M | 141.1M | 130.04M | 121.64M | 120.01M | 120.73M | 126.92M | 124.57M | 90.63M |
| EBIT | 107.65M | 117.54M | 85.79M | 60.93M | 39.89M | 18.9M | 71.65M | 5.46M | 31.01M |
| Net Interest Income | -55.01M | -56.47M | -59.24M | -68.31M | -54.56M | -69.01M | -99.48M | -114.22M | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 83.38M |
| Interest Expense | 55.01M | 56.47M | 59.24M | 68.31M | 54.56M | 69.01M | 99.48M | 114.22M | 0 |
| Other Income/Expense | -56.49M | -60.94M | -62.25M | -68.31M | -54.56M | -60.43M | -99.7M | -116.45M | -98.58M |
| Pretax Income | 51.16M | 56.6M | 26.55M | -7.38M | -14.67M | -50.12M | -33.94M | -108.76M | -67.57M |
| Pretax Margin % | 3.27% | 3.65% | 1.8% | -0.5% | -0.99% | -3.51% | -2.48% | -8.96% | -6.94% |
| Income Tax | 15.27M | 16.29M | 9.3M | 2.21M | 1.77M | -11.78M | -9.44M | -23.28M | -8.89M |
| Effective Tax Rate % | 29.84% | 28.78% | 35.01% | -29.9% | -12.06% | 23.51% | 27.81% | 21.4% | 13.16% |
| Net Income | 35.89M | 40.3M | 17.25M | -9.59M | -16.44M | -38.33M | -24.5M | -85.48M | -58.68M |
| Net Margin % | 2.3% | 2.6% | 1.17% | -0.65% | -1.11% | -2.69% | -1.79% | -7.04% | -6.02% |
| Net Income Growth % | 94.74% | 133.58% | 279.95% | 41.66% | 57.12% | -56.46% | 71.34% | -45.67% | - |
| Net Income (Continuing) | 35.89M | 40.3M | 17.25M | -9.59M | -16.44M | -38.33M | -24.5M | -85.48M | -58.68M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.18 | 0.20 | 0.09 | -0.05 | -0.08 | -0.28 | -0.27 | -0.46 | -107.67 |
| EPS Growth % | 113.64% | 122.22% | 280% | 37.5% | 71.43% | -3.7% | 41.3% | 99.57% | - |
| EPS (Basic) | - | 0.20 | 0.09 | -0.05 | -0.08 | -0.28 | -0.27 | -0.46 | -108.00 |
| Diluted Shares Outstanding | 196.63M | 199.48M | 198.91M | 194.72M | 189.82M | 134.7M | 89.89M | 187.57M | 545K |
| Basic Shares Outstanding | 196.63M | 197.45M | 196.11M | 194.72M | 187.96M | 134.7M | 89.89M | 187.57M | 543.34K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Retailer concentration and seasonality
According to the provided quarterly income statements, Hillman's revenue growth has fluctuated between a contraction of 1.4% and a peak expansion of 8.0%, reflecting a clear reliance on the seasonal home improvement cycles that define the company's transactional volume across its primary retail partners.
The top-line performance suggests that Hillman is highly sensitive to the timing of consumer DIY activity, with peak revenue consistently appearing in the third quarter. Investors should monitor whether the company can sustain organic growth outside of these seasonal windows, as the current trajectory appears to lack consistent momentum.
As reported in the financial data, Hillman's gross margins have exhibited significant variance, ranging from a low of 37.8% in 2025Q4 to a high of 51.7% in 2025Q3, indicating that the company's pricing power is frequently offset by fluctuations in commodity costs and inventory management.
The wide spread in gross margins suggests that Hillman struggles to fully pass through cost increases to its big-box retail partners in a timely manner. This volatility warrants further investigation into the company's contractual pricing mechanisms and the impact of raw material price spikes on its bottom line.
Based on the income statement figures, Hillman's operating income has failed to scale consistently with gross profit, as SG&A expenses frequently consume a substantial portion of the margin gains, leaving operating margins in the low single digits for several of the reported periods.
The high fixed-cost burden associated with the company's field service labor force appears to act as a structural ceiling on profitability. This suggests that unless the company can achieve significant automation or labor efficiencies, operating leverage will remain elusive even during periods of top-line growth.
Analysis of the reported figures reveals that stock-based compensation, which reached $4.0 million in 2026Q1, consistently weighs on net income, contributing to the company's periodic net losses and highlighting a disconnect between operational performance and the bottom-line results delivered to shareholders.
The recurring presence of stock-based compensation suggests that the company's reported net income may be understating the true cost of talent acquisition and retention. Investors should monitor whether these non-cash expenses continue to dilute the potential for meaningful earnings growth as the company attempts to scale its robotics segment.
Quick answers to the most common questions about buying HLMN stock.
For fiscal year 2025, Hillman Solutions Corp. (HLMN) reported total revenue of $1.55B. This represents a 59.3% increase compared to $974.2M in 2018.
Hillman Solutions Corp. (HLMN) is profitable, generating $40.3M in net income for the fiscal year ending 2025 with a net profit margin of 2.6%.
Hillman Solutions Corp. (HLMN) reported an operating income of $117.5M, resulting in an operating profit margin of 7.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Hillman Solutions Corp. (HLMN) generated $615.2M in gross profit for the year, representing a gross profit margin of 39.6%. This demonstrates the company's core pricing power and production efficiency.