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Hexcel Corporation

HXL Industrials Aerospace & Defense

Hexcel Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.9 billion, roughly unchanged from fiscal 2024.

Revenue
+8.81%
EPS
+96.2%
Free cash flow
−47.5%
Total debt
+23.5%

Quarter to September 2026, against a year earlier

80.94 2.45 −2.94%
Market cap
$6.1B
P/E
36.0×
Fwd P/E
34.2×
Dividend yield
0.89%
F-score
6/9
Altman Z
4.71
Beneish M
−2.54
Dividend safety
67/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • Commercial Aerospace
  • Defense Space & Other

Every year since 2016 →

Insider Decisions last twelve months

Bought, $m 0.24
Sold, $m 2.41
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — 1 —
Sell — — 1 — — — — — 1 1 — —
Insider Ownership 1.09%

Capital & Financial Ratios $m

Size
Market Cap 6,100.00
Revenue ttm 2,018.50
Net income ttm 171.50
Free cash flow ttm 209.80
Net debt Q 862.00
Valuation
P/E 35.97 (above 35: high)
Forward P/E 34.20
Price / sales 3.04
Forward P/S Powerpack
Price / FCF 29.24
Price / book 4.63
Financial health
Current ratio Q 2.57 (at or above 1.5: strong)
Debt / equity Q 0.71
Interest coverage Q 4.53
Growth
Revenue growth Q +8.81% (above 0%: growing)
Operating income growth Q +52.22% (above 0%: growing)
EPS, this year +35.57% (at or above 15%: strong)
EPS, next year A +26.41% (at or above 15%: strong)
Revenue, next year A +9.83%
EPS, past 5 yrs +29.24% (at or above 15%: strong)
EPS, next 5 yrs A +30.08% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.5×, against a ten-year median of 3.3×; over the ten years it ranged from 1.7× in 2020 to 5.0× in 2021.
P/E against its own 10 years 53.67%
10-year low 10-year high
P/S against its own 10 years 59.59%
10-year low 10-year high
P/B against its own 10 years 87.31%
10-year low 10-year high
EV/Sales against its own 10 years 59.96%
10-year low 10-year high
EV/FCF against its own 10 years 37.87%
10-year low 10-year high

Dividends raised 5 years running

Yield
0.89%
Annual rate
0.72
Payout ratio
32.3%
Growth, 2018–26
+3.42%/yr
  1. 0.55 ’18
  2. 0.64 ’19 +16
  3. 0.17 ’20 −73
  4. 0.00 ’21 −100
  5. 0.40 ’22
  6. 0.50 ’23 +25
  7. 0.60 ’24 +20
  8. 0.68 ’25 +13
  9. 0.72 ’26 +6
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 227 125 71 78
Receivables 235 212 249 272
Inventory 334 356 329 357
Other 25 37 36 42
864 782 731 798
2023 2024 2025 Q'26
Payables 159 142 147 139
ST’ Debt 6 8 4 5
Other — 4 — —
316 354 323 311

Compound Annual Growth %

10y 5y 3y
Sales 0.17% 4.74% 6.28%
Cash Flow (2.63%) (2.70%) 10.02%
Earnings (7.45%) 28.11% (4.68%)
Book Value 0.59% (3.70%) (6.99%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.48 Actual 0.50

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.50 0.52 Beat by 0.02
Q1 FY26 0.42 0.59 Beat by 0.17
Q2 FY26 0.56 0.66 Beat by 0.10
Q3 FY26 0.48 0.50 Beat by 0.02
Q4 FY26 0.63 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.49 0.64 0.50 — —
’25 0.35 0.17 0.26 0.60 1.37
’24 0.43 0.60 0.49 0.07 1.59
’23 0.50 0.50 0.45 (0.21) 1.24
’22 0.21 0.53 0.31 0.43 1.49
’21 (0.17) 0.03 0.11 0.22 0.19
’20 0.50 (0.01) 0.12 (0.23) 0.38
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 502 529 496 — —
’25 457 490 456 491 1,894
’24 472 500 457 474 1,903
’23 458 454 420 458 1,789
’22 391 393 365 429 1,578
’21 310 320 334 360 1,325
’20 541 379 287 296 1,502
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 19 78 74 — —
’25 (28) 23 110 126 231
’24 (7) 44 90 163 290
’23 (23) 54 68 159 257
’22 (19) 37 38 117 173
’21 (1) 40 25 88 152
’20 9 65 83 107 264
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) 58 51 — —
’25 (55) 8 97 107 157
’24 (36) 21 73 144 203
’23 (41) (3) 59 145 159
’22 (40) 42 18 99 118
’21 (6) 36 20 75 124
’20 (19) 52 76 105 214
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 14.0% a year for ten years. It grew 28.0% a year over the last ten.

Implied
14.0%
10 years, reported
28.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 2,004 1,973 2,189 2,356 1,502 1,325 1,578 1,789 1,903 1,894 2,018 (0.6%) 2,080 2,310 2,553 +10.5%
Gross margin, % 28.17 27.96 26.53 27.19 15.95 18.88 22.63 24.21 24.69 22.96 25.23 (5.2) pt
EBT 338 323 334 380 (28) 22 150 110 155 135 199 (9.7%)
EBT margin, % 16.84 16.38 15.23 16.12 (1.84) 1.66 9.49 6.13 8.14 7.13 9.87 (9.7) pt
Net income 250 284 277 307 32 16 126 106 132 109 172 (8.8%)
Per share, $
Per share, $ Revenue 21.60 21.78 24.90 27.75 17.93 15.75 18.69 21.15 23.12 23.82 26.63 +1.1%
Earnings 2.69 3.13 3.15 3.61 0.38 0.19 1.50 1.25 1.61 1.38 2.25 (7.1%)
Cash flow 4.33 4.73 4.79 5.78 3.15 1.80 2.05 3.04 3.52 2.90 3.91 (4.3%)
Capex (3.53) (3.07) (2.09) (2.40) (0.60) (0.33) (0.65) (1.16) (1.06) (0.92) (1.15) (13.9%)
Free cash flow 0.79 1.66 2.70 3.38 2.55 1.47 1.40 1.88 2.47 1.98 2.77 +10.7%
Book value 13.41 16.50 15.04 17.03 18.02 17.66 18.41 20.29 18.57 15.73 17.47 +1.8%
Shares, m 93 91 88 85 84 84 84 85 82 80 77 (1.7%)
Valuation, ×
Valuation, × P/E 19.29 19.70 18.20 20.31 124.33 272.63 39.27 58.17 38.94 53.17 35.97 66.4
P/S 2.41 2.83 2.30 2.64 2.70 3.29 3.15 3.44 2.71 3.10 3.04 2.9
P/B 3.88 3.74 3.81 4.30 2.69 2.93 3.20 3.58 3.38 4.70 4.63 3.6
EV/Sales 2.74 3.21 2.73 3.07 3.25 3.82 3.55 3.71 3.02 3.59 3.47 3.3
EV/FCF 74.63 42.08 25.17 25.22 22.88 40.85 47.50 41.64 28.31 43.26 33.35 39.2
Cash, $m
Cash, $m Operating cash flow 401 429 421 491 264 152 173 257 290 231 297 (6.0%)
Capex (328) (278) (184) (204) (51) (28) (55) (98) (87) (73) (87) (15.3%)
Free cash flow 74 151 237 287 214 124 118 159 203 157 210 +8.8%
Balance, $m
Balance, $m Working capital 335 395 349 382 353 369 405 548 428 408 487 +2.2%
Net debt 654 750 934 1,013 827 701 634 479 583 926 862 +3.9%
Shareholders’ equity 1,245 1,495 1,322 1,446 1,510 1,486 1,554 1,717 1,528 1,251 1,324 +0.1%
Returns, %
Returns, % ROA 10.89 10.96 9.87 10.30 1.05 0.56 4.47 3.67 4.68 4.03 6.25 (6.9) pt
ROIC 11.86 9.76 10.28 10.81 0.38 1.48 5.01 6.13 5.51 4.93 7.04 (6.9) pt
ROE 20.61 20.73 19.64 22.15 2.14 1.07 8.31 6.46 8.14 7.87 11.86 (12.7) pt
People
People Employees 6,155 6,259 6,626 6,977 4,647 4,863 5,328 5,590 5,894 5,563 — (1.1%)
Revenue/emp, $m 0.33 0.32 0.33 0.34 0.32 0.27 0.30 0.32 0.32 0.34 — +0.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Hexcel manufactures lightweight composite materials and structures used primarily in aircraft, defense and space equipment. Its customers use these materials where strength, durability and low weight matter. The company also sells products for industrial applications, including automobiles, recreational equipment and electronics.

A composite combines materials with different properties. Hexcel makes carbon fiber and other reinforcements, resins, adhesives and honeycomb cores, as well as products that combine them. One example is prepreg: fiber reinforcement combined with resin before a customer shapes and cures it into a finished component. Hexcel’s materials can be found in aircraft wings and other structures, engine fan blades and cases, rotorcraft blades, satellites and launch vehicles.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Commercial Aerospace 1,147 60.56%
Defense Space & Other 747 39.44%
Gross margin 22.96%
Operating margin 9.06%
Pre-tax margin 7.13%

Revenue by segment since 2016

Hexcel Corporation vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SARO StandardAero, Inc. $8.4B 25.4× 19.9× +4.63% (above 0%: growing) +42.86% (above 0%: growing) +263.74% (above 0%: growing) 16.80% 10.53% Compare
LOAR Loar Holdings Inc. $6.8B 113× 104× +38.99% (above 0%: growing) −27.59% (below 0%: shrinking) +46.45% (above 0%: growing) 54.16% 26.21% Compare
KTOS Kratos Defense & Security Solutions, Inc. $6.3B 197× 209× +35.73% (above 0%: growing) 0.00% +14.29% (above 0%: growing) 22.47% (1.04%) Compare
HXL Hexcel Corporation $6.1B 36.0× 34.2× +8.81% (above 0%: growing) +96.15% (above 0%: growing) −47.46% (below 0%: shrinking) 23.27% 11.04%
BETA BETA Technologies, Inc. $5.7B — (loss-making) — (loss-making) +98.16% (above 0%: growing) n/m −71.45% (below 0%: shrinking) 72.09% (723.20%) Compare
AVAV AeroVironment, Inc. $5.2B — (loss-making) 268× +5.68% (above 0%: growing) n/m +76.92% (above 0%: growing) 25.93% (2.26%) Compare
VSEC VSE Corporation $4.6B 60.0× 36.8× +65.04% (above 0%: growing) +513.33% (above 0%: growing) +217.04% (above 0%: growing) 17.02% 10.90% Compare
KRMN Karman Holdings Inc. $4.3B 111× 80.9× +58.18% (above 0%: growing) +120.00% (above 0%: growing) +17.67% (above 0%: growing) 42.97% 19.13% Compare
PL Planet Labs PBC $4.1B — (loss-making) — (loss-making) +58.14% (above 0%: growing) n/m −48.55% (below 0%: shrinking) 56.55% (11.64%) Compare
Median of peers $5.4B 111× 92.5× +48.57% +42.86% +32.06% 34.45% 4.75%

All 94 Aerospace & Defense stocks →

From the latest earnings call

Updated

  • CEO Thomas Gentile said Hexcel is restarting production lines and hiring to meet aircraft demand, although those preparations put near-term pressure on margins.
  • Gentile said purchase orders support at least 80 A350 shipsets in 2026, while demand signals point to around 100 in 2027.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 113.34%
Held by the ten largest 61.60%
Holder Shares Stake Change
BlackRock 14.22m 18.80% +1.34m
Vanguard 7.15m 9.46% +26.83k
T. Rowe Price 5.86m 7.75% +802.65k
EARNEST PARTNERS LLC 4.58m 6.06% −120.15k
State Street 4.37m 5.78% −393.62k
MFS Investment Management 2.47m 3.27% +71.48k
Bank of America 2.17m 2.87% −96.24k
BRANDES INVESTMENT PARTNERS, LP 2.13m 2.82% −99.78k
UBS 1.91m 2.53% −178.08k
Geode Capital Management 1.71m 2.26% +223.90k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Hexcel Corporation (HXL) Latest News

29 Oct

Impact 3 · · Zacks

28 Oct

Impact 4 · · PR Newswire

23 Oct

Impact 4 · · StockStory
Impact 4 · · Simply Wall St.
Impact 3 · · StockStory

22 Oct

Impact 4 · · The Motley Fool
Impact 4 · · MarketBeat
Impact 4 · · The Motley Fool transcript
Impact 4 · · StockStory
Impact 3 · · TIKR
Impact 3 · · The Motley Fool
Impact 3 · · Zacks
Impact 3 · · TIKR

21 Oct

Impact 4 · · Investing.com
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press
Impact 3 · · StockStory

20 Oct

Impact 3 · · Zacks
Impact 3 · · StockStory

15 Oct

Impact 3 · · Zacks

14 Oct

Impact 3 · · Zacks
Impact 3 · · StockStory

23 Sep

Impact 3 · · MT Newswires

21 Sep

Impact 4 · · Business Wire

27 Aug

Impact 3 ·

21 Aug

Impact 3 ·

7 Aug

Impact 3 · · The Motley Fool transcript

1 Aug

Impact 4 ·

HXL metrics, ten years each

stockrow.com/HXL · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com