A Business at a Glance
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HEXCEL CORP /DE/
HXL
$8.8B
Mkt Cap
$110.28
+0.35%
HEXCEL CORP /DE/ (HXL) has a current P/E ratio of 80.5, compared to its historical median P/E of 28.7. The stock is currently considered Expensive based on its historical valuation range.
HEXCEL CORP /DE/ (HXL) has a 5-year average return on invested capital (ROIC) of 5.8%. This is below average and may indicate limited pricing power.
HEXCEL CORP /DE/ (HXL) has a market capitalization of $12.4B. It is classified as a large-cap stock.
Yes, HEXCEL CORP /DE/ (HXL) pays a dividend with a trailing twelve-month yield of 0.43%. The company also returns capital through share buybacks, with a buyback yield of 3.26%.
Based on historical P/E analysis, HEXCEL CORP /DE/ (HXL) appears expensive. The current P/E of 80.5 is 181% above its historical median of 28.7. The estimated fair value CAGR (P/E method) is -4.0%.
HEXCEL CORP /DE/ (HXL) operates in the Plastic Materials, Synth Resins & Nonvulcan Elastomers industry, within the Materials sector.
HEXCEL CORP /DE/ (HXL) reported annual revenue of $1.9 billion in its most recent fiscal year, based on SEC EDGAR filings.
Hexcel Corporation is an advanced lightweight composite materials manufacturer serving the commercial aerospace, defense, space, and other markets. The company operates through two primary segments: Commercial Aerospace, which supplies carbon fiber, fiberglass, and aramid fiber-based composites to aircraft manufacturers including Airbus and Boeing for programs such as the A320, A350, 737 MAX, and 787, and Defense, Space and Other, which serves military and space applications globally. Hexcel's business model is characterized by long-term sole-source contracts with original equipment manufacturers, generating recurring revenue as production rates increase; the company earns incremental sales through volume growth on existing platforms, with management targeting $500 million in incremental annual sales as Airbus and Boeing achieve publicly disclosed peak build rates, plus over $200 million from defense, space, and regional jet growth. The company operates a capital-intensive manufacturing footprint with multiple production facilities globally, including carbon fiber lines that can be brought online to support rising demand, and maintains inventory buffers to manage supply chain dynamics and customer destocking cycles. Hexcel's competitive moat derives from its sole-source positions on major commercial aircraft programs, extensive qualification and long-term contracts, proprietary advanced material science technology, and a highly trained workforce capable of delivering on-time quality production at scale. The customer base includes Airbus, Boeing, and their supply chain partners, as well as defense contractors and military customers in the U.S., NATO-aligned nations, India, Brazil, and South Korea.
【Commercial aerospace recovery accelerating】 Management expects sustained increases in commercial aircraft production rates at Airbus and Boeing to continue through 2026 and beyond, with the A350 program targeting 12 aircraft per month by 2028, the A320 reaching 75 per month by 2027, the 737 MAX exceeding mid-400s units in 2026, and the 787 tracking toward 90-100 units annually. The company is taking a measured approach to bringing production capacity online to ensure incremental costs align with sustained demand and to protect against potential upside, having brought one carbon fiber line online earlier than expected to support rate increases. Operating leverage from higher sales volumes is expected to be the primary driver of earnings growth in 2026 and beyond, supported by disciplined cost control and productivity improvements. Defense and space markets are expected to provide additional growth tailwinds as defense budgets in the U.S. and allied nations continue to increase due to geopolitical uncertainty and new platform development. Management remains committed to returning leverage to its targeted range of 1.5x–2x net debt to EBITDA during 2026 through cash generation and repayment of revolver borrowings used for share repurchases.
| Metric | Target | Period |
|---|---|---|
| Sales | $2.0 billion–$2.1 billion | FY2026 |
| Adjusted EPS | $2.10–$2.30 | FY2026 |
| Free Cash Flow | greater than $195 million | FY2026 |
Sales (FY2026): “In 2026, we expect sales in the range of $2.0 billion-$2.1 billion, adjusted EPS between $2.10-$2.30, and free cash flow greater than $195 million.”
Adjusted EPS (FY2026): “In 2026, we expect sales in the range of $2.0 billion-$2.1 billion, adjusted EPS between $2.10-$2.30, and free cash flow greater than $195 million.”
Free Cash Flow (FY2026): “In 2026, we expect sales in the range of $2.0 billion-$2.1 billion, adjusted EPS between $2.10-$2.30, and free cash flow greater than $195 million.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.9B | 1.9B | 1.9B | 1.8B | 1.6B | 1.3B |
| Net Income | 118M | 109M | 132M | 106M | 126M | 16M |
| EPS | $1.25 | $1.37 | $1.59 | $1.24 | $1.49 | $0.19 |
| Free Cash Flow | 206M | 157M | 203M | 149M | 97M | 124M |
| ROIC | 6.8% | 6.1% | 6.6% | 8.9% | 5.7% | 1.7% |
| Gross Margin | 24.1% | 23.0% | 24.7% | 24.2% | 22.6% | 18.9% |
| Debt/Equity | 0.79 | 0.81 | 0.48 | 0.42 | 0.50 | 0.59 |
| Dividends/Share | $0.48 | $0.67 | $0.60 | $0.50 | $0.40 | $0.00 |
| Operating Income | 185M | 172M | 186M | 215M | 175M | 52M |
| Operating Margin | 9.5% | 9.1% | 9.8% | 12.0% | 11.1% | 3.9% |
| ROE | 9.3% | 7.9% | 8.1% | 6.5% | 8.3% | 1.1% |
| Shares Outstanding | 113M | 80M | 83M | 85M | 85M | 85M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.9B | 1.9B | 2.0B | 2.0B | 2.2B | 2.4B | 1.5B | 1.3B | 1.6B | 1.8B | 1.9B | 1.9B | 1.9B |
| Gross Margin | 27.4% | 28.6% | 28.2% | 28.0% | 26.5% | 27.2% | 16.0% | 18.9% | 22.6% | 24.2% | 24.7% | 23.0% | 24.1% |
| R&D | 48M | 44M | 47M | 49M | 56M | 57M | 47M | 45M | 46M | 53M | 57M | 56M | 60M |
| SG&A | 149M | 156M | 158M | 152M | 146M | 159M | 121M | 135M | 148M | 164M | 177M | 169M | 175M |
| EBIT | 306M | 332M | 360M | 351M | 371M | 425M | 14M | 52M | 175M | 215M | 186M | 172M | 185M |
| Op. Margin | 16.5% | 17.9% | 18.0% | 17.8% | 17.0% | 18.0% | 0.9% | 3.9% | 11.1% | 12.0% | 9.8% | 9.1% | 9.5% |
| Net Income | 209M | 237M | 250M | 284M | 277M | 307M | 32M | 16M | 126M | 106M | 132M | 109M | 118M |
| Net Margin | 11.3% | 12.7% | 12.5% | 14.4% | 12.6% | 13.0% | 2.1% | 1.2% | 8.0% | 5.9% | 6.9% | 5.8% | 6.1% |
| Non-Recurring | 1.4M | 0 | 0 | 0 | 7.7M | 0 | 53M | 19M | 29M | 1.6M | 7.5M | 28M | 34M |
| Returns on Capital | |||||||||||||
| ROIC | 15.0% | 14.9% | 12.0% | 12.3% | 11.9% | 13.1% | 0.6% | 1.7% | 5.7% | 8.9% | 6.6% | 6.1% | 6.8% |
| ROE | 18.2% | 20.1% | 20.6% | 20.7% | 19.6% | 22.2% | 2.1% | 1.1% | 8.3% | 6.5% | 8.1% | 7.9% | 9.3% |
| ROA | 10.3% | 10.8% | 10.9% | 11.0% | 9.9% | 10.3% | 1.0% | 0.6% | 4.5% | 3.7% | 4.7% | 4.0% | 4.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 318M | 301M | 401M | 429M | 421M | 491M | 264M | 152M | 173M | 257M | 290M | 231M | 278M |
| Free Cash Flow | 58M | -4.3M | 74M | 151M | 237M | 287M | 214M | 124M | 97M | 149M | 203M | 157M | 206M |
| Owner Earnings | 230M | 207M | 292M | 307M | 282M | 331M | 108M | -5.3M | 27M | 111M | 144M | 94M | 141M |
| CapEx | 260M | 305M | 328M | 278M | 184M | 204M | 51M | 28M | 76M | 108M | 87M | 73M | 72M |
| Maint. CapEx | 71M | 76M | 93M | 105M | 123M | 142M | 141M | 138M | 126M | 125M | 124M | 122M | 123M |
| Growth CapEx | 189M | 229M | 235M | 174M | 61M | 62M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 71M | 76M | 93M | 105M | 123M | 142M | 141M | 138M | 126M | 125M | 124M | 122M | 123M |
| CapEx/OCF | 81.8% | 101.4% | 81.7% | 64.9% | 43.7% | 41.6% | 19.1% | 18.4% | 44.1% | 42.1% | 30.0% | 31.8% | 26.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 38M | 40M | 43M | 48M | 4.2M | 14M | 0 | 34M | 42M | 49M | 54M | 54M |
| Dividend Yield | N/A | 0.9% | 1.0% | 0.9% | 0.9% | 0.1% | 0.4% | N/A | 0.7% | 0.7% | 0.9% | 1.1% | 0.4% |
| Share Buybacks | 160M | 146M | 111M | 150M | 358M | 143M | 25M | 0 | 0 | 30M | 252M | 454M | 404M |
| Buyback Yield | 4.2% | 3.5% | 2.4% | 2.8% | 7.5% | 2.3% | 0.6% | N/A | N/A | 0.5% | 4.9% | 7.5% | 3.3% |
| Stock-Based Comp | 17M | 18M | 16M | 18M | 16M | 18M | 15M | 19M | 20M | 21M | 22M | 14M | 14M |
| Debt Repayment | 85M | 85M | 0 | 4.1M | 4.2M | 9.0M | 50M | 0 | 0 | 2.5M | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 276M | 474M | 654M | 750M | 924M | 1.1B | 882M | 746M | 661M | 502M | 601M | 948M | 944M |
| Cash & Equiv. | 71M | 52M | 35M | 60M | 33M | 64M | 103M | 128M | 112M | 227M | 125M | 71M | 54M |
| Long-Term Debt | 415M | 577M | 684M | 806M | 947M | 1.1B | 926M | 822M | 723M | 699M | 701M | 993M | 998M |
| Debt/Equity | 0.36 | 0.49 | 0.55 | 0.54 | 0.72 | 0.78 | 0.65 | 0.59 | 0.50 | 0.42 | 0.48 | 0.81 | 0.79 |
| Interest Coverage | 38.2 | 23.4 | 16.3 | 12.8 | 9.8 | 9.3 | 0.3 | 1.4 | 4.8 | 6.3 | 6.0 | 4.6 | 4.4 |
| Equity | 1.1B | 1.2B | 1.2B | 1.5B | 1.3B | 1.4B | 1.5B | 1.5B | 1.6B | 1.7B | 1.5B | 1.3B | 1.3B |
| Total Assets | 2.0B | 2.2B | 2.4B | 2.8B | 2.8B | 3.1B | 2.9B | 2.8B | 2.8B | 2.9B | 2.7B | 2.7B | 2.7B |
| Total Liabilities | 887M | 1.0B | 1.2B | 1.3B | 1.5B | 1.7B | 1.4B | 1.3B | 1.3B | 1.2B | 1.2B | 1.5B | 1.5B |
| Intangibles | 0 | 0 | 2.1M | 34M | 31M | 81M | 75M | 73M | 65M | 59M | 46M | 42M | 47M |
| Retained Earnings | 846M | 1.0B | 1.3B | 1.5B | 1.7B | 2.0B | 2.0B | 2.0B | 2.1B | 2.2B | 2.3B | 2.3B | 2.3B |
| Working Capital | 371M | 341M | 335M | 395M | 349M | 382M | 353M | 369M | 405M | 548M | 428M | 408M | 456M |
| Current Assets | 682M | 634M | 607M | 657M | 676M | 705M | 536M | 616M | 734M | 864M | 782M | 731M | 770M |
| Current Liabilities | 311M | 293M | 272M | 262M | 327M | 323M | 183M | 248M | 330M | 316M | 354M | 323M | 314M |
| Per Share Data | |||||||||||||
| EPS | 2.12 | 2.44 | 2.65 | 3.09 | 3.11 | 3.57 | 0.38 | 0.19 | 1.49 | 1.24 | 1.59 | 1.37 | 1.25 |
| Owner EPS | 2.32 | 2.13 | 3.10 | 3.34 | 3.17 | 3.86 | 1.29 | -0.06 | 0.32 | 1.31 | 1.73 | 1.17 | 1.25 |
| Book Value | 11.64 | 12.13 | 13.21 | 16.27 | 14.86 | 16.84 | 18.10 | 17.53 | 18.34 | 20.14 | 18.39 | 15.66 | 11.26 |
| Cash Flow/Share | 3.22 | 3.10 | 4.26 | 4.66 | 4.74 | 5.72 | 3.17 | 1.79 | 2.04 | 3.02 | 3.49 | 2.89 | 2.14 |
| Dividends/Share | 0.00 | 0.39 | 0.44 | 0.47 | 0.55 | 0.05 | 0.17 | 0.00 | 0.40 | 0.50 | 0.60 | 0.67 | 0.48 |
| Shares Out. | 98.8M | 97.2M | 94.3M | 91.9M | 88.9M | 85.9M | 83.4M | 84.7M | 84.8M | 85.2M | 83.1M | 79.9M | 112.5M |
| Valuation | |||||||||||||
| P/E Ratio | 18.3 | 17.8 | 18.3 | 19.0 | 17.3 | 19.9 | 121.7 | 263.4 | 37.5 | 58.3 | 39.2 | 55.5 | 88.4 |
| P/FCF | 66.3 | N/A | 62.1 | 35.9 | 20.2 | 21.2 | 18.1 | 34.3 | 48.9 | 41.4 | 25.5 | 38.6 | 60.3 |
| EV/EBIT | 13.4 | 14.1 | 14.4 | 17.4 | 15.3 | 16.5 | 324.8 | 92.9 | 29.9 | 29.8 | 30.2 | 40.3 | 72.2 |
| Price/Book | 3.3 | 3.6 | 3.7 | 3.6 | 3.6 | 4.2 | 2.6 | 2.9 | 3.0 | 3.6 | 3.4 | 4.9 | 9.8 |
| Price/Sales | 2.0 | 2.3 | 1.9 | 2.4 | 2.5 | 2.6 | 2.5 | 3.5 | 2.9 | 3.2 | 2.8 | 2.6 | 6.4 |
| FCF Yield | 1.5% | -0.1% | 1.6% | 2.8% | 4.9% | 4.7% | 5.5% | 2.9% | 2.0% | 2.4% | 3.9% | 2.6% | 1.7% |
| Market Cap | 3.8B | 4.2B | 4.6B | 5.4B | 4.8B | 6.1B | 3.9B | 4.2B | 4.7B | 6.2B | 5.2B | 6.1B | 12.4B |
| Avg. Price | 38.15 | 44.26 | 41.40 | 51.49 | 62.21 | 71.42 | 44.40 | 54.09 | 54.45 | 67.51 | 64.71 | 61.34 | 110.28 |
| Year-End Price | 38.85 | 43.42 | 48.45 | 58.82 | 53.93 | 70.94 | 46.26 | 50.05 | 55.81 | 72.28 | 62.26 | 75.97 | 110.28 |
HEXCEL CORP /DE/ passes 3 of 9 quality checks, indicating weak fundamentals.
HEXCEL CORP /DE/ trades at 80.5x trailing earnings, compared to its 15-year median P/E of 28.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 53.2x vs a median of 35.1x. The company's 5-year average ROIC is 5.8% with a gross margin of 22.7%. Total shareholder yield (dividends + buybacks) is 3.7%. At current prices, the estimated annualized return to fair value is -29.8%.
HEXCEL CORP /DE/ (HXL) has a net profit margin of 5.8%. This is a modest margin.
HEXCEL CORP /DE/ (HXL) generated $157 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HEXCEL CORP /DE/ (HXL) has a debt-to-equity ratio of 0.81. This indicates moderate leverage.
HEXCEL CORP /DE/ (HXL) reported earnings per share (EPS) of $1.37 in its most recent fiscal year.
HEXCEL CORP /DE/ (HXL) has a return on equity (ROE) of 7.9%. This indicates moderate shareholder returns.
HEXCEL CORP /DE/ (HXL) has a 5-year average gross margin of 22.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 15 years of financial data for HEXCEL CORP /DE/ (HXL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HEXCEL CORP /DE/ (HXL) has a book value per share of $15.66, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects sustained increases in commercial aircraft production rates at Airbus and Boeing to continue through 2026 and beyond, with the A350 program targeting 12 aircraft per month by 2028, the A320 reaching 75 per month by 2027, the 737 MAX exceeding mid-400s units in 2026, and the 787 tracking toward 90-100 units annually. The company is taking a measured approach to bringing production capacity online to ensure incremental costs align with sustained demand and to protect against potential upside, having brought one carbon fiber line online earlier than expected to support rate increases. Operating leverage from higher sales volumes is expected to be the primary driver of earnings growth in 2026 and beyond, supported by disciplined cost control and productivity improvements. Defense and space markets are expected to provide additional growth tailwinds as defense budgets in the U.S. and allied nations continue to increase due to geopolitical uncertainty and new platform development. Management remains committed to returning leverage to its targeted range of 1.5x–2x net debt to EBITDA during 2026 through cash generation and repayment of revolver borrowings used for share repurchases.
Based on recent SEC filings and earnings calls, HEXCEL CORP /DE/ (HXL) has provided the following forward guidance: Sales: $2.0 billion–$2.1 billion (FY2026); Adjusted EPS: $2.10–$2.30 (FY2026); Free Cash Flow: greater than $195 million (FY2026).
No recent press releases.