Hexcel Corporation (HXL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$0.58	$0.66	+13.8%	—	—	—
Q3 26	$0.44	$0.59	+34.1%	—	—	—
Q2 26	$0.49	$0.52	+6.1%	—	—	—
Q1 26	$0.46	$0.5	+8.7%	—	—	—
Q4 25	$0.42	$0.37	-11.9%	—	—	—
Q3 25	$0.52	$0.52	0.0%	—	—	—
Q2 25	$0.46	$0.47	+2.2%	—	—	—
Q1 25	$0.56	$0.6	+7.1%	—	—	—
Q4 24	$0.42	$0.44	+4.8%	—	—	—
Q3 24	$0.49	$0.43	-12.2%	—	—	—
Q2 24	$0.43	$0.38	-11.6%	—	—	—
Q1 24	$0.48	$0.5	+4.2%	—	—	—
Q4 23	$0.38	$0.5	+31.6%	—	—	—
Q3 23	$0.32	$0.4	+25.0%	—	—	—
Q2 23	$0.33	$0.33	0.0%	—	—	—
Q1 23	$0.3	$0.33	+10.0%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.38	—	—	$1.9B	—
FY24	—	$1.61	—	—	$1.9B	—
FY23	—	$1.25	—	—	$1.8B	—
FY22	—	$1.5	—	—	$1.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$2B	$2B	$2.2B	$2.4B	$1.5B	$1.3B	$1.6B	$1.8B	$1.9B	$1.9B
YoY change	+7.69%	-1.55%	+10.9%	+7.61%	-36.2%	-11.8%	+19.1%	+13.4%	+6.37%	-0.48%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	2B	2B	2.2B	2.4B	1.5B	1.3B	1.6B	1.8B	1.9B	1.9B
Cost of revenue	1.4B	1.4B	1.6B	1.7B	1.3B	1.1B	1.2B	1.4B	1.4B	1.5B
Gross profit	564.6M	551.8M	580.8M	640.4M	239.7M	250.1M	357.1M	433.2M	469.8M	434.8M
Gross margin	28.2%	28%	26.5%	27.2%	16%	18.9%	22.6%	24.2%	24.7%	23%
Research & development	46.9M	49.4M	55.9M	56.5M	46.6M	45.1M	45.8M	52.7M	57.1M	56.4M
Selling, general & administrative	157.6M	151.8M	146M	158.7M	121.1M	135M	148M	163.8M	176.6M	169M
Operating expenses	204.5M	201.2M	209.6M	215.2M	225.6M	198.3M	181.9M	217.9M	283.7M	263.2M
Operating income	360.1M	350.6M	371.2M	425.2M	14.1M	51.8M	175.2M	215.3M	186.1M	171.6M
Operating margin	18%	17.8%	17%	18%	0.94%	3.91%	11.1%	12%	9.78%	9.06%
Non-operating income, net	-400K	—	—	—	—	8.5M	10.8M	-71.6M	—	1.1M
Pretax income	337.6M	323.2M	333.5M	379.7M	-27.7M	22M	149.8M	109.7M	154.9M	135M
Income tax	90.3M	42.5M	62.5M	76.8M	-61M	5.9M	31.6M	12.1M	22.8M	25.6M
Net income	249.8M	284M	276.6M	306.6M	31.7M	16.1M	126.3M	105.7M	132.1M	109.4M
Net margin	12.5%	14.4%	12.6%	13%	2.11%	1.22%	8.01%	5.91%	6.94%	5.78%
EBITDA	453M	455.1M	494.3M	566.9M	155M	198.3M	312.2M	268.5M	310.1M	295M
EPS	2.69	3.13	3.15	3.61	0.38	0.19	1.5	1.25	1.61	1.38
Diluted EPS	2.65	3.09	3.11	3.57	0.38	0.19	1.49	1.24	1.59	1.37

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	419.5M	457.5M	472.3M	500.4M	456.5M	473.8M	456.5M	489.9M	456.2M	491.3M	501.5M	529.3M
Cost of revenue	327.9M	354.4M	354.1M	373.8M	350M	355.3M	354.1M	378.4M	356.3M	370.3M	366.8M	391.2M
Gross profit	91.6M	103.1M	118.2M	126.6M	106.5M	118.5M	102.4M	111.5M	99.9M	121M	134.7M	138.1M
Gross margin	21.8%	22.5%	25%	25.3%	23.3%	25%	22.4%	22.8%	21.9%	24.6%	26.9%	26.1%
Research & development	13.4M	12.1M	15.1M	14.7M	13.8M	13.5M	13.8M	14.3M	14M	14.3M	17.8M	17.3M
Selling, general & administrative	35.4M	41.9M	49M	39.9M	39.8M	47.9M	43.3M	43M	41.1M	41.6M	49.4M	47.2M
Operating expenses	48M	55.5M	65.3M	54.8M	54M	109.6M	58.2M	81.5M	63.9M	59.6M	77.1M	65.5M
Operating income	43.6M	47.6M	52.9M	71.8M	52.5M	8.9M	44.2M	30M	36M	61.4M	57.6M	72.6M
Operating margin	10.4%	10.4%	11.2%	14.3%	11.5%	1.88%	9.68%	6.12%	7.89%	12.5%	11.5%	13.7%
Non-operating income, net	—	—	—	—	—	—	-400K	900K	—	600K	-300K	100K
Pretax income	35.8M	-31.6M	46.4M	63.7M	44M	800K	36M	21.8M	26.8M	50.4M	45.5M	60.7M
Income tax	-700K	-10.4M	9.9M	13.7M	4.2M	-5M	7.1M	8.3M	6.2M	4M	8.3M	11.4M
Net income	38.7M	-18.2M	36.5M	50M	39.8M	5.8M	28.9M	13.5M	20.6M	46.4M	37.2M	49.3M
Net margin	9.23%	-3.98%	7.73%	9.99%	8.72%	1.22%	6.33%	2.76%	4.52%	9.44%	7.42%	9.31%
EBITDA	75.1M	7.6M	83.9M	102.8M	83.5M	39.9M	73.6M	61.7M	66.9M	92.8M	87.7M	102.8M
EPS	0.46	-0.21	0.44	0.61	0.49	0.07	0.36	0.17	0.26	0.6	0.49	0.65
Diluted EPS	0.45	-0.21	0.43	0.6	0.49	0.07	0.35	0.17	0.26	0.6	0.49	0.64

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.8B	5.6B	5B	6.2B	4.1B	4.4B	5B	6.2B	5.2B	5.9B	6.4B
Enterprise value	5.4B	6.4B	6B	7.2B	4.9B	5.1B	5.6B	6.7B	5.7B	6.8B	7.4B
Shares outstanding	92.8M	90.6M	87.9M	84.9M	83.8M	84.1M	84.4M	84.6M	82.3M	79.5M	79.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.1	19.7	18.2	20.3	128.2	270.6	39.3	59	39.1	53.7	42.8
P/S	2.38	2.84	2.3	2.64	2.7	3.29	3.15	3.49	2.71	3.1	3.24
P/B	3.83	3.75	3.81	4.3	2.69	2.93	3.2	3.63	3.38	4.7	4.93
EV/EBITDA	12	14	12.1	12.7	31.5	25.5	17.9	25	18.5	23	19
EV/Sales	2.71	3.22	2.72	3.06	3.25	3.81	3.54	3.75	3.01	3.59	3.73
Earnings yield	5.23%	5.07%	5.49%	4.93%	0.78%	0.37%	2.54%	1.69%	2.56%	1.86%	2.33%
FCF yield	1.54%	2.69%	4.71%	4.61%	5.26%	2.84%	1.95%	2.39%	3.93%	2.68%	3.98%
PEG	—	—	—	—	—	—	—	—	—	—	0.15

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	28.2%	28%	26.5%	27.2%	16%	18.9%	22.6%	24.2%	24.7%	23%	26.1%
Operating margin	18%	17.8%	17%	18%	0.94%	3.91%	11.1%	12%	9.78%	9.06%	13.9%
Net margin	12.5%	14.4%	12.6%	13%	2.11%	1.22%	8.01%	5.91%	6.94%	5.78%	7.76%
ROE	20.1%	19%	20.9%	21.2%	2.1%	1.08%	8.13%	6.16%	8.65%	8.75%	10.8%
ROA	10.4%	10.2%	9.79%	9.8%	1.09%	0.57%	4.45%	3.62%	4.85%	4.05%	5.98%
ROIC	13.9%	13.6%	13.4%	13.9%	0.6%	1.74%	6.38%	8.75%	7.55%	6.4%	8.68%
Return on tangible assets	11.1%	11.4%	10.9%	10.8%	1.34%	0.7%	5.43%	4.38%	5.87%	4.92%	6.79%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.23	2.51	2.07	2.19	2.93	2.49	2.23	2.74	2.21	2.26	2.43
Quick ratio	1.16	1.31	1.16	1.15	1.76	1.5	1.26	1.68	1.2	1.25	1.37
Debt / equity	0.55	0.54	0.72	0.73	0.61	0.55	0.47	0.41	0.46	0.79	0.74
Debt / assets	0.29	0.29	0.34	0.34	0.32	0.29	0.25	0.24	0.26	0.37	0.35
Net debt / EBITDA	1.44	1.65	1.87	1.76	5.31	3.51	1.96	1.76	1.86	3.13	2.56
Interest coverage	16.3	12.8	9.85	9.35	0.34	1.57	5.14	4.23	5.96	4.58	5.11
Effective tax rate	26.7%	13.1%	18.7%	20.2%	0%	26.8%	21.1%	11%	14.7%	19%	16.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	21.6	21.8	24.9	27.7	17.9	15.8	18.7	21.1	23.1	23.8	25.7
EPS (basic)	2.69	3.13	3.15	3.61	0.38	0.19	1.5	1.25	1.61	1.38	1.38
EPS (diluted)	2.65	3.09	3.11	3.57	0.38	0.19	1.49	1.24	1.59	1.37	1.98
Book value per share	13.4	16.5	15	17	18	17.7	18.4	20.3	18.6	15.7	17.2
FCF per share	0.79	1.66	2.7	3.38	2.55	1.47	1.15	1.76	2.47	1.98	3.34
Cash per share	0.38	0.66	0.37	0.76	1.23	1.52	1.33	2.68	1.52	0.89	0.83
Capex per share	—	—	—	—	—	0	0.25	0.12	0	0.92	1

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	0%	1.34%	0.58%	0%	3.87%	3.88%
Capex / operating cash flow	—	—	—	—	—	0%	16.7%	5.18%	0%	31.8%	23.1%
Payout ratio	15.9%	15%	17.5%	17.7%	44.8%	0%	26.7%	39.9%	37.3%	49.3%	35.3%
Dividend yield	0.83%	0.76%	0.96%	0.87%	0.35%	0%	0.68%	0.68%	0.96%	0.92%	0.86%

Yield

0.86%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.18

ex-dividend Aug 10, 2026

Payout ratio

35%

of earnings

Dividend growth

3 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 10, 2026	$0.18
May 4, 2026	$0.18
Feb 9, 2026	$0.18
Nov 3, 2025	$0.17
Aug 8, 2025	$0.17
May 2, 2025	$0.17
Feb 7, 2025	$0.17
Nov 1, 2024

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$419.5M	$457.5M	$472.3M	$500.4M	$456.5M	$473.8M	$456.5M	$489.9M	$456.2M	$491.3M	$501.5M	$529.3M
YoY change	+15%	+6.54%	+3.19%	+10.1%	+8.82%	+3.56%	-3.35%	-2.1%	-0.07%	+3.69%	+9.86%	+8.04%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	35.2M	60.1M	32.7M	64.4M	103.3M	127.7M	112M	227M	125.4M	71M
Receivables	245.6M	248.7M	260.9M	227.6M	125.4M	160.3M	222.7M	234.7M	212M	249.3M
Inventory	291M	314M	297.8M	333.1M	213.5M	245.7M	319.3M	334.4M	356.2M	328.8M
Total current assets	607M	656.7M	675.8M	704.9M	535.9M	616.3M	734.4M	864.2M	781.5M	730.7M
Property, plant & equipment	2.4B	2.9B	3.2B	3.3B	3.3B	1.1B	1B	945M	869.2M	845.2M
Goodwill & intangibles	144.4M	297.4M	284.6M	280.4M	555.6M	535M	512M	502.6M	474M	479.6M
Total assets	2.4B	2.8B	2.8B	3.1B	2.9B	2.8B	2.8B	2.9B	2.7B	2.7B
Accounts payable	137.3M	144.1M	161.9M	157.6M	70M	113.2M	155.5M	159.1M	142.3M	146.6M
Short-term debt	4.3M	4.3M	9.4M	9.5M	900K	900K	200K	100K	100K	—
Total current liabilities	271.9M	262.1M	326.7M	322.6M	183.1M	247.6M	329.8M	315.9M	353.5M	322.7M
Long-term debt	684.4M	805.6M	947.4M	1.1B	925.5M	822.4M	723.3M	699.4M	700.6M	993M
Total liabilities	1.2B	1.3B	1.5B	1.7B	1.4B	1.3B	1.3B	1.2B	1.2B	1.5B
Shareholders' equity	1.2B	1.5B	1.3B	1.4B	1.5B	1.5B	1.6B	1.7B	1.5B	1.3B
Total debt	688.7M	809.9M	956.8M	1.1B	926.4M	823.3M	723.5M	699.5M	700.7M	993M
Net debt	653.5M	749.8M	924.1M	995.7M	823.1M	695.6M	611.5M	472.5M	575.3M	922M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	97.7M	227M	85.9M	75.4M	98.2M	125.4M	89.2M	77.2M	90.5M	71M	54.1M	62.2M
Receivables	236.8M	234.7M	271M	283.1M	258.6M	212M	258.6M	271.4M	234.3M	249.3M	291M	299.2M
Inventory	350.8M	334.4M	353.8M	351.5M	376M	356.2M	381.5M	375.4M	357.6M	328.8M	339.8M	345.2M
Total current assets	765.4M	864.2M	789.7M	807.6M	828M	781.5M	822.5M	847.4M	787.4M	730.7M	769.7M	792.2M
Property, plant & equipment	-1.5B	945M	-1.5B	-1.6B	-1.6B	869.2M	-1.6B	-1.7B	-1.7B	845.2M	-1.7B	-1.7B
Goodwill & intangibles	250.6M	502.6M	248.7M	246.8M	247.7M	474M	240.2M	243.2M	482.4M	479.6M	474.8M	471.2M
Total assets	2.8B	2.9B	2.8B	2.8B	2.9B	2.7B	2.8B	2.8B	2.8B	2.7B	2.7B	2.7B
Accounts payable	97.8M	159.1M	128.1M	124.8M	124.2M	142.3M	117.7M	111.1M	124.4M	146.6M	140.7M	144.6M
Short-term debt	100K	100K	100K	100K	100K	100K	100K	—	—	—	—	—
Total current liabilities	252.9M	315.9M	288.6M	293.7M	300M	353.5M	317.5M	315.5M	286M	322.7M	313.7M	326.4M
Long-term debt	754.1M	699.4M	714.6M	794.9M	805.1M	700.6M	787.1M	827.7M	757.9M	993M	998.1M	959.4M
Total liabilities	1.2B	1.2B	1.2B	1.3B	1.3B	1.2B	1.2B	1.3B	1.2B	1.5B	1.5B	1.4B
Shareholders' equity	1.6B	1.7B	1.6B	1.6B	1.6B	1.5B	1.5B	1.6B	1.6B	1.3B	1.3B	1.3B
Total debt	754.2M	699.5M	714.7M	795M	805.2M	700.7M	787.2M	827.7M	757.9M	993M	998.1M	959.4M
Net debt	656.5M	472.5M	628.8M	719.6M	707M	575.3M	698M	750.5M	667.4M	922M	944M	897.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	249.8M	284M	276.6M	306.6M	31.7M	16.1M	126.3M	105.7M	132.1M	109.4M
Depreciation & amortization	93.3M	104.5M	123.1M	141.7M	140.9M	138M	126.2M	124.8M	124M	122.3M
Stock-based compensation	16.1M	17.6M	16.2M	18.3M	15.4M	19M	20M	20.9M	22.2M	14.4M
Change in working capital	-7.8M	23.6M	-42.2M	6.8M	224.8M	-79.1M	-142.6M	-15.9M	-23.3M	22.9M
Operating cash flow	415.9M	434.2M	412.3M	488.1M	385.6M	88.9M	126.8M	199M	238.5M	230.5M
Capital expenditure	—	—	—	—	—	0	21.2M	10.3M	0	-73.3M
Investing cash flow	-38.6M	-76M	-3.4M	-163.2M	0	0	21.7M	57.5M	0	-76M
Dividends paid	-39.8M	-42.6M	-48.4M	-54.2M	-14.2M	0	-33.7M	-42.2M	-49.3M	-53.9M
Share repurchases	-111.1M	-150.3M	-357.7M	-143M	-24.6M	0	0	-30.1M	-252.2M	-454.3M
Financing cash flow	30.9M	-375.5M	-258.1M	215.3M	-259.2M	-206.9M	-134.3M	-100M	-301.2M	-517.4M
Net change in cash	408.2M	-17.3M	150.8M	540.2M	126.4M	-118M	14.2M	156.5M	-62.7M	-362.9M
Free cash flow	73.5M	150.6M	237.3M	287M	213.7M	123.8M	96.8M	148.9M	202.9M	157.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	38.7M	-18.2M	36.5M	50M	39.8M	5.8M	28.9M	13.5M	20.6M	46.4M	37.2M	49.3M
Depreciation & amortization	31.5M	31.6M	31M	31M	31M	31M	29.8M	30.8M	30.9M	30.8M	30.4M	30.1M
Stock-based compensation	2.6M	2.6M	13.1M	3.3M	2.9M	2.9M	9.7M	2.7M	1M	1M	9.3M	5.2M
Change in working capital	24.1M	38.2M	-63.7M	-15.3M	7.3M	33.9M	-59.3M	22.3M	45.5M	14.4M	-57.3M	-16.7M
Operating cash flow	90.9M	33.6M	13.8M	62.7M	72.2M	75.3M	8.4M	23.3M	110.2M	125.5M	19M	77.7M
Capital expenditure	10.3M	0	—	—	—	0	—	-15.3M	-13.7M	-18.2M	-25.2M	-19.7M
Investing cash flow	10.3M	44.7M	—	—	0	0	-1.1M	-15.3M	-15.3M	-18.2M	-25.2M	-19.7M
Dividends paid	-10.6M	-10.5M	-12.6M	-12.4M	-12.2M	-12.1M	-13.8M	-13.7M	-13.5M	-12.9M	-13.7M	-13.6M
Share repurchases	-30.1M	0	-100.7M	-101.1M	-50.4M	0	-50.4M	-50.5M	0	-353.4M	0	0
Financing cash flow	-800K	-65.6M	-98.4M	-33.4M	-52.7M	-116.7M	-278.4M	-20M	-87.8M	-131.4M	-10.6M	-53.8M
Net change in cash	100.4M	12.7M	-84.6M	29.3M	19.5M	-41.4M	-271.1M	-12M	7.1M	-24.1M	-16.8M	4.2M
Free cash flow	48.4M	145.2M	-35.7M	21.3M	73.3M	144M	-54.6M	8M	96.5M	107.3M	-6.2M	58M

Hexcel Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history