NYSE : HXL
Hexcel Corporation — Financial statements
Industrials · Aerospace & Defense · United States
Last price 79.55 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 6.02B
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Financial statements
Hexcel Corporation (HXL) reported revenue of 2.02B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 2.02B | 1.89B | 1.90B | 1.79B | 1.58B | 1.32B |
| Cost of Revenue | 1.51B | 1.46B | 1.43B | 1.36B | 1.22B | 1.07B |
| Gross Profit | 509.30M | 434.80M | 469.80M | 433.20M | 357.10M | 250.10M |
| Selling, General & Admin | 183.10M | 169.00M | 176.60M | 163.80M | 148.00M | 135.00M |
| Research & Development | 65.60M | 56.40M | 57.10M | 52.70M | 45.80M | 45.10M |
| Other Operating Expenses | -24.60M | 5.10M | 1.40M | -19.50M | -600.00K | |
| Operating Expenses | 224.10M | 230.50M | 233.70M | 217.90M | 174.30M | 179.50M |
| Operating Income | 285.20M | 204.30M | 236.10M | 215.30M | 182.80M | 70.60M |
| Interest Expense | -47.50M | -37.70M | -31.20M | -34.00M | -36.20M | -38.30M |
| Earnings From Equity Investments | 8.10M | 8.10M | ||||
| Other Non Operating Income (Expenses) | 600.00K | 1.50M | 1.90M | 10.80M | 8.50M | |
| EBT Excluding Unusual Items | 238.30M | 168.10M | 204.90M | 191.30M | 165.50M | 40.80M |
| Merger & Restructuring Charges | -34.30M | -28.20M | -2.30M | -7.60M | -18.80M | |
| Gain (Loss) on Sale of Investments | -3.00M | |||||
| Gain (Loss) on Sale of Assets | -4.50M | -4.50M | ||||
| Asset Writedown | -47.70M | |||||
| Other Unusual Items | -200.00K | -400.00K | -70.50M | |||
| Pretax Income | 199.30M | 135.00M | 154.90M | 117.80M | 157.90M | 22.00M |
| Income Tax Expense | 27.80M | 25.60M | 22.80M | 12.10M | 31.60M | 5.90M |
| Net Income | 171.50M | 109.40M | 132.10M | 105.70M | 126.30M | 16.10M |
| Net Income to Common | 171.50M | 109.40M | 132.10M | 105.70M | 126.30M | 16.10M |
| Shares Outstanding (Basic) | 76.05M | 79.50M | 82.30M | 84.60M | 84.40M | 84.10M |
| Shares Outstanding (Diluted) | 76.78M | 80.00M | 83.00M | 85.50M | 85.00M | 84.60M |
| EPS (Basic) | 2.26 | 1.38 | 1.61 | 1.25 | 1.50 | 0.19 |
| EPS (Diluted) | 2.23 | 1.37 | 1.59 | 1.24 | 1.49 | 0.19 |
| Free Cash Flow | 209.80M | 157.20M | 202.90M | 148.90M | 96.80M | 123.80M |
| Free Cash Flow Per Share | 2.73 | 1.97 | 2.44 | 1.74 | 1.14 | 1.46 |
| Dividend Per Share | 0.71 | 0.68 | 0.60 | 0.50 | 0.40 | |
| Gross Margin | 25.23% | 22.96% | 24.69% | 24.21% | 22.63% | 18.88% |
| Operating Margin | 14.13% | 10.79% | 12.41% | 12.04% | 11.59% | 5.33% |
| Profit Margin | 8.50% | 5.78% | 6.94% | 5.91% | 8.00% | 1.21% |
| Free Cash Flow Margin | 10.39% | 8.30% | 10.66% | 8.32% | 6.14% | 9.35% |
| EBITDA | 406.50M | 326.60M | 360.10M | 340.10M | 309.00M | 208.60M |
| EBITDA Margin | 20.14% | 17.24% | 18.92% | 19.01% | 19.59% | 15.75% |
| D&A For EBITDA | 121.30M | 122.30M | 124.00M | 124.80M | 126.20M | 138.00M |
| EBIT | 285.20M | 204.30M | 236.10M | 215.30M | 182.80M | 70.60M |
| EBIT Margin | 14.13% | 10.79% | 12.41% | 12.04% | 11.59% | 5.33% |
| Effective Tax Rate | 13.95% | 18.96% | 14.72% | 10.27% | 20.01% | 26.82% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 77.80M | 71.00M | 125.40M | 227.00M | 112.00M | 127.70M |
| Trading Asset Securities | 13.90M | 4.30M | 6.20M | |||
| Cash & Short-Term Investments | 77.80M | 71.00M | 139.30M | 231.30M | 118.20M | 127.70M |
| Receivables | 313.30M | 285.20M | 241.80M | 259.80M | 254.70M | 190.80M |
| Inventory | 357.40M | 328.80M | 356.20M | 334.40M | 319.30M | 245.70M |
| Prepaid Expenses | 45.60M | 35.00M | 35.20M | 33.40M | 30.30M | 36.90M |
| Other Current Assets | 3.90M | 10.70M | 9.00M | 5.30M | 11.90M | 15.20M |
| Total Current Assets | 798.00M | 730.70M | 781.50M | 864.20M | 734.40M | 616.30M |
| Property, Plant & Equipment | 1.57B | 1.64B | 1.62B | 1.71B | 1.71B | 1.80B |
| Long-Term Investments | 5.00M | 5.00M | 5.00M | 8.70M | 57.70M | 44.60M |
| Goodwill | 190.10M | 191.60M | ||||
| Other Intangible Assets | 43.80M | 48.20M | 237.00M | 251.30M | 256.00M | 267.50M |
| Long-Term Deferred Tax Assets | 39.40M | 39.90M | 51.30M | 57.90M | 69.10M | |
| Other Long-Term Assets | 117.30M | 51.90M | 40.10M | 35.00M | 23.90M | 25.10M |
| Total Assets | 2.73B | 2.70B | 2.73B | 2.92B | 2.84B | 2.82B |
| Accounts Payable | 139.40M | 146.60M | 142.30M | 159.10M | 155.50M | 113.20M |
| Accrued Expenses | 162.80M | 162.30M | 190.50M | 140.60M | 138.80M | 114.90M |
| Current Portion of Leases | 7.00M | 6.10M | 7.40M | 10.40M | 11.30M | |
| Other Current Liabilities | 8.50M | 6.80M | 14.60M | 8.80M | 25.10M | 8.20M |
| Total Current Liabilities | 310.70M | 322.70M | 353.50M | 315.90M | 329.80M | 247.60M |
| Long-Term Debt | 932.80M | 993.00M | 700.60M | 699.30M | 723.10M | 822.00M |
| Long-Term Leases | 2.10M | 18.70M | 19.40M | 22.10M | 39.60M | 40.70M |
| Pension & Post-Retirement Benefits | 28.60M | 28.40M | 31.90M | 42.60M | 42.70M | 52.60M |
| Long-Term Deferred Tax Liabilities | 102.70M | 86.70M | 81.20M | 110.60M | 126.40M | 140.00M |
| Other Long-Term Liabilities | 27.90M | 3.80M | 11.10M | 11.50M | 21.50M | 31.00M |
| Total Liabilities | 1.40B | 1.45B | 1.20B | 1.20B | 1.28B | 1.33B |
| Common Stock | 1.10M | 1.10M | 1.10M | 1.10M | 1.10M | 1.10M |
| Additional Paid-In Capital | 1.01B | 994.90M | 970.00M | 936.80M | 905.00M | 878.60M |
| Retained Earnings | 2.39B | 2.31B | 2.25B | 2.17B | 2.10B | 2.01B |
| Treasury Stock | -2.03B | -2.04B | -1.58B | -1.32B | -1.28B | -1.28B |
| Comprehensive Income & Other | -49.90M | -12.90M | -115.00M | -74.10M | -174.40M | -126.50M |
| Shareholders' Equity | 1.32B | 1.25B | 1.53B | 1.72B | 1.55B | 1.49B |
| Total Liabilities & Equity | 2.73B | 2.70B | 2.73B | 2.92B | 2.84B | 2.82B |
| Total Debt | 934.90M | 1.02B | 726.10M | 728.80M | 773.10M | 874.00M |
| Net Cash (Debt) | -857.10M | -947.70M | -586.80M | -497.50M | -654.90M | -746.30M |
| Net Cash Per Share | -11.16 | -11.85 | -7.07 | -5.82 | -7.70 | -8.82 |
| Filing Date Shares Outstanding | 75.70M | 75.87M | 81.13M | 84.39M | 84.28M | 83.99M |
| Total Common Shares Outstanding | 75.70M | 75.70M | 81.00M | 84.10M | 84.20M | 84.00M |
| Working Capital | 487.30M | 408.00M | 428.00M | 548.30M | 404.60M | 368.70M |
| Book Value Per Share | 17.50 | 16.52 | 18.86 | 20.41 | 18.46 | 17.68 |
| Tangible Book Value | 1.09B | 1.01B | 1.29B | 1.47B | 1.30B | 1.22B |
| Tangible Book Value Per Share | 14.41 | 13.35 | 15.94 | 17.42 | 15.42 | 14.50 |
| Land | 123.90M | 119.20M | 120.60M | 106.90M | 109.20M | |
| Buildings | 766.30M | 727.50M | 733.70M | 656.20M | 671.80M | |
| Machinery | 2.12B | 2.03B | 2.07B | 2.03B | 2.08B | |
| Construction In Progress | 306.40M | 285.50M | 265.00M | 290.00M | 246.60M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 171.50M | 109.40M | 132.10M | 105.70M | 126.30M | 16.10M |
| Depreciation & Amortization | 121.30M | 122.30M | 124.00M | 124.80M | 126.20M | 138.00M |
| Other Amortization | 1.10M | 100.00K | 400.00K | 600.00K | 700.00K | 3.10M |
| Loss (Gain) From Sale of Assets | 4.90M | -800.00K | -19.40M | |||
| Asset Writedown & Restructuring Costs | -1.30M | 9.10M | 28.90M | -1.30M | 900.00K | -5.60M |
| Loss (Gain) From Sale of Investments | 3.00M | -300.00K | ||||
| Loss (Gain) on Equity Investments | -8.10M | -8.10M | ||||
| Stock-Based Compensation | 19.40M | 14.40M | 22.20M | 20.90M | 20.00M | 19.00M |
| Other Operating Activities | 21.30M | 6.30M | -16.70M | 37.80M | -3.10M | -2.60M |
| Change in Accounts Receivable | -38.40M | -22.50M | 10.70M | -8.90M | -62.80M | -40.70M |
| Change in Inventory | -6.60M | 45.40M | -34.00M | -8.90M | -82.40M | -40.40M |
| Change in Accounts Payable | 30.70M | -20.40M | 29.20M | -12.20M | 80.80M | 49.80M |
| Change in Other Net Operating Assets | -22.40M | -38.50M | -6.90M | 4.50M | -5.70M | 15.00M |
| Operating Cash Flow | 296.60M | 230.50M | 289.90M | 257.10M | 173.10M | 151.70M |
| Capital Expenditures | -86.80M | -73.30M | -87.00M | -108.20M | -76.30M | -27.90M |
| Sale of Property, Plant & Equipment | 10.30M | 21.20M | ||||
| Investment in Securities | 47.20M | 500.00K | ||||
| Other Investing Activities | -2.70M | |||||
| Investing Cash Flow | -86.80M | -76.00M | -87.00M | -50.70M | -54.60M | -27.90M |
| Long-Term Debt Issued | 780.00M | 160.30M | 163.00M | 50.00M | ||
| Long-Term Debt Repaid | -489.20M | -160.00M | -188.20M | -150.60M | -103.90M | |
| Net Debt Issued (Repaid) | 176.00M | 290.80M | 300.00K | -25.20M | -100.60M | -103.90M |
| Issuance of Common Stock | 12.70M | 5.10M | 7.40M | 4.30M | 7.10M | |
| Repurchase of Common Stock | -353.40M | -454.30M | -252.70M | -30.10M | ||
| Common Dividends Paid | -53.80M | -53.90M | -49.30M | -42.20M | -33.70M | |
| Other Financing Activities | -2.80M | -2.50M | ||||
| Financing Cash Flow | -221.30M | -212.30M | -301.70M | -92.60M | -130.00M | -96.80M |
| Foreign Exchange Rate Adjustments | -1.20M | 3.40M | -2.80M | 1.20M | -4.20M | -2.60M |
| Net Cash Flow | -12.70M | -54.40M | -101.60M | 115.00M | -15.70M | 24.40M |
| Free Cash Flow | 209.80M | 157.20M | 202.90M | 148.90M | 96.80M | 123.80M |
| Free Cash Flow Margin | 10.39% | 8.30% | 10.66% | 8.32% | 6.14% | 9.35% |
| Free Cash Flow Per Share | 2.73 | 1.97 | 2.44 | 1.74 | 1.14 | 1.46 |
| Levered Free Cash Flow | 204.06M | 118.42M | 217.26M | 123.81M | 117.72M | 162.49M |
| Unlevered Free Cash Flow | 232.65M | 141.89M | 236.36M | 144.46M | 139.65M | 183.32M |
| Cash Interest Paid | 40.20M | 40.20M | 33.50M | 34.60M | 35.40M | 36.10M |
| Cash Income Tax Paid | 7.30M | 7.30M | 42.20M | 59.10M | 35.90M | 1.20M |
| Change in Working Capital | -36.70M | -36.00M | -1.00M | -25.50M | -70.10M | -16.30M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.11B | 5.88B | 5.08B | 6.20B | 4.95B | 4.35B |
| Enterprise Value | 6.97B | 6.55B | 5.78B | 6.86B | 5.66B | 5.12B |
| Last Close Price | 77.84 | 73.47 | 61.64 | 71.83 | 56.90 | 49.73 |
| PE Ratio | 36.18 | 53.77 | 38.45 | 58.69 | 39.22 | 269.92 |
| Forward PE | 29.49 | 34.13 | 27.85 | 32.38 | 36.99 | 48.67 |
| PS Ratio | 3.03 | 3.11 | 2.67 | 3.47 | 3.14 | 3.28 |
| PB Ratio | 4.45 | 4.70 | 3.32 | 3.61 | 3.19 | 2.92 |
| P/TBV Ratio | 5.61 | 5.82 | 3.93 | 4.23 | 3.82 | 3.57 |
| P/FCF Ratio | 29.14 | 37.42 | 25.03 | 41.66 | 51.17 | 35.10 |
| P/OCF Ratio | 20.61 | 25.52 | 17.52 | 24.13 | 28.62 | 28.65 |
| PEG Ratio | 0.96 | 2.06 | 1.61 | 1.09 | 0.62 | 0.48 |
| EV/Sales Ratio | 3.45 | 3.46 | 3.04 | 3.83 | 3.59 | 3.86 |
| EV/EBITDA Ratio | 17.15 | 20.05 | 16.05 | 20.17 | 18.32 | 24.53 |
| EV/EBIT Ratio | 24.44 | 32.06 | 24.49 | 31.86 | 30.96 | 72.48 |
| EV/FCF Ratio | 33.23 | 41.66 | 28.49 | 46.07 | 58.47 | 41.34 |
| Debt / Equity Ratio | 0.71 | 0.81 | 0.47 | 0.42 | 0.50 | 0.59 |
| Debt / EBITDA Ratio | 2.21 | 2.97 | 1.93 | 2.05 | 2.38 | 3.90 |
| Debt / FCF Ratio | 4.46 | 6.48 | 3.58 | 4.89 | 7.99 | 7.06 |
| Net Debt / Equity Ratio | 0.65 | 0.76 | 0.38 | 0.29 | 0.42 | 0.50 |
| Net Debt / EBITDA Ratio | 2.11 | 2.90 | 1.63 | 1.46 | 2.12 | 3.58 |
| Net Debt / FCF Ratio | 4.08 | 6.03 | 2.89 | 3.34 | 6.76 | 6.03 |
| Asset Turnover | 0.74 | 0.70 | 0.67 | 0.62 | 0.56 | 0.46 |
| Inventory Turnover | 4.22 | 4.26 | 4.15 | 4.15 | 4.32 | 4.68 |
| Quick Ratio | 1.26 | 1.10 | 1.08 | 1.55 | 1.13 | 1.29 |
| Current Ratio | 2.57 | 2.26 | 2.21 | 2.74 | 2.23 | 2.49 |
| Return on Equity (ROE) | 11.86% | 7.87% | 8.14% | 6.46% | 8.31% | 1.07% |
| Return on Assets (ROA) | 6.50% | 4.70% | 5.23% | 4.68% | 4.04% | 1.54% |
| Return on Invested Capital (ROIC) | 11.21% | 7.68% | 9.30% | 8.73% | 6.59% | 2.23% |
| Return on Capital Employed (ROCE) | 11.80% | 8.60% | 10.00% | 8.30% | 7.30% | 2.70% |
| Earnings Yield | 2.76% | 1.86% | 2.60% | 1.70% | 2.55% | 0.37% |
| FCF Yield | 3.43% | 2.67% | 4.00% | 2.40% | 1.95% | 2.85% |
| Dividend Yield | 0.89% | 0.88% | 0.96% | 0.68% | 0.68% | |
| Payout Ratio | 32.26% | 49.27% | 37.32% | 39.92% | 26.68% | |
| Buyback Yield / Dilution | 5.45% | 3.61% | 2.92% | -0.59% | -0.47% | -0.71% |
| Total Shareholder Return | 6.34% | 4.49% | 3.88% | 0.09% | 0.21% | -0.71% |