Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026

Hillman Solutions Corp. (HLMN)

A forensic read on Hillman Solutions Corp. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Safe

Financial health

2.8

Distress distance

Clean

Earnings quality

Forensic signals

43.6

P / E (ttm)

3.3%

ROE

$1.8B

Market cap

5.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Hillman Solutions Corp. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 2.8, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

3.9%

FY2025

Return on invested capital. Return on invested capital is 3.9% in the latest fiscal year and rising from 1% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.

105d

FY2024→FY2025

Inventory days. Days inventory outstanding moved from 97 to 105 FY2024→FY2025 (against revenue (COGS not disclosed); inventory +20% vs +5% in revenue). Inventory is building a little faster than sales — watch for markdowns.

+0.9%/yr

FY2022–FY2025

Share count. Diluted share count changed +3% over the last 3 years to FY2025 (+0.9%/yr). Roughly flat — buybacks ($12M) are about offsetting stock comp ($14M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$1.55B

Revenue Growth YoY+5.4%

Revenue CAGR (3yr)+1.5%

Net Margin2.6%

Free Cash Flow$35.1M

Return on Equity3.3%

Debt / Equity0.56x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.