HEXCEL CORP /DE/ HXL
Hexcel Corporation and its subsidiaries (herein referred to as "Hexcel", "the Company", "we", "us", or "our"), is a global leader in advanced lightweight composites technology. We propel the future of flight and transportation through excellence in advanced material lightweighting solutions that create a better world for us all. Our broad product range includes carbon fiber, specialty reinforcements, prepregs and other fiber-reinforced matrix materials, honeycomb, resins, engineered core and composite structures for use in commercial aerospace, defense and space, and industrial applications.
We are a manufacturer of products within a single industry: Advanced Composites. We have two reportable segments: Composite Materials and Engineered Products. The Composite Materials segment is comprised of our carbon fiber, specialty reinforcements, resin systems, prepregs and other fiber-reinforced matrix materials, and honeycomb core product lines and pultruded profiles. The Engineered Products segment is comprised of lightweight high strength composite structures, radio frequency/electromagnetic interference ("RF/EMI") and microwave absorbing materials, engineered core and specialty machined honeycomb products with added functionality.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.89B | $1.90B | $1.79B | $1.58B | $1.32B | $1.50B | $2.36B | $2.19B | $1.97B | $2.00B |
| Cost of revenue | $1.46B | $1.43B | $1.36B | $1.22B | $1.07B | $1.26B | $1.72B | $1.61B | $1.42B | $1.44B |
| Gross profit | $434.8M | $469.8M | $433.2M | $357.1M | $250.1M | $239.7M | $640.4M | $580.8M | $551.8M | $564.6M |
| R&D | $56.4M | $57.1M | $52.7M | $45.8M | $45.1M | $46.6M | $56.5M | $55.9M | $49.4M | $46.9M |
| SG&A | $169.0M | $176.6M | $163.8M | $148.0M | $135.0M | $121.1M | $158.7M | $146.0M | $151.8M | $157.6M |
| Operating income | $171.6M | $186.1M | $215.3M | $175.2M | $51.8M | $14.1M | $425.2M | $371.2M | $350.6M | $360.1M |
| Interest expense | $37.7M | $31.2M | $34.0M | $36.2M | $38.3M | $41.8M | $45.5M | $37.7M | $27.4M | $22.1M |
| Pre-tax income | $135.0M | $154.9M | $109.7M | $149.8M | $22.0M | -$27.7M | $379.7M | $333.5M | $323.2M | $337.6M |
| Income tax | $25.6M | $22.8M | $12.1M | $31.6M | $5.9M | $61.0M | $76.8M | $62.5M | $42.5M | $90.3M |
| Net income | $109.4M | $132.1M | $105.7M | $126.3M | $16.1M | $31.7M | $306.6M | $276.6M | $284.0M | $249.8M |
| Shares, diluted (wtd. avg.) | $80.0M | $83.0M | $85.5M | $85.0M | $84.6M | $84.0M | $85.8M | $89.0M | $91.9M | $94.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $71.0M | $125.4M | $227.0M | $112.0M | $127.7M | $103.3M | $64.4M | $32.7M | $60.1M | $35.2M |
| Receivables | $249.3M | $212.0M | $234.7M | $222.7M | $160.3M | $125.4M | $227.6M | $260.9M | $248.7M | $245.6M |
| Inventory | $328.8M | $356.2M | $334.4M | $319.3M | $245.7M | $213.5M | $333.1M | $297.8M | $314.0M | $291.0M |
| Total current assets | $730.7M | $781.5M | $864.2M | $734.4M | $616.3M | $535.9M | $704.9M | $675.8M | $656.7M | $607.0M |
| Property, plant and equipment | $1.61B | $1.60B | $1.68B | $1.66B | $1.75B | $1.87B | $1.94B | $1.88B | $1.87B | $1.63B |
| Goodwill | $191.6M | $186.5M | $188.7M | $187.0M | $190.5M | $193.1M | $189.8M | $107.7M | $110.1M | $66.6M |
| Other intangibles | $41.6M | $46.2M | $58.5M | $65.4M | $72.7M | $75.4M | $81.4M | $30.5M | $33.5M | $2.1M |
| Total assets | $2.70B | $2.73B | $2.92B | $2.84B | $2.82B | $2.92B | $3.13B | $2.82B | $2.78B | $2.40B |
| Accounts payable | $146.6M | $142.3M | $159.1M | $155.5M | $113.2M | $70.0M | $157.6M | $161.9M | $144.1M | $137.3M |
| Short-term debt | $0 | $100.0K | $100.0K | $200.0K | $900.0K | $900.0K | $9.5M | $9.4M | $4.3M | $4.3M |
| Total current liabilities | $322.7M | $353.5M | $315.9M | $329.8M | $247.6M | $183.1M | $322.6M | $326.7M | $262.1M | $271.9M |
| Long-term debt | $993.0M | $700.6M | $699.4M | $723.3M | $822.4M | $925.5M | $1.05B | $947.4M | $805.6M | $684.4M |
| Total liabilities | $1.45B | $1.20B | $1.20B | $1.28B | $1.33B | $1.41B | $1.68B | $1.50B | $1.29B | $1.16B |
| Retained earnings | $2.31B | $2.25B | $2.17B | $2.10B | $2.01B | $2.00B | $1.98B | $1.73B | $1.50B | $1.25B |
| Total equity | $1.25B | $1.53B | $1.72B | $1.55B | $1.49B | $1.51B | $1.45B | $1.32B | $1.50B | $1.24B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $230.5M | $289.9M | $257.1M | $173.1M | $151.7M | $264.3M | $491.1M | $421.4M | $428.7M | $401.4M |
| Depreciation and amortisation | $122.3M | $124.0M | $124.8M | $126.2M | $138.0M | $140.9M | $141.7M | $123.1M | $104.5M | $93.3M |
| Stock-based compensation | $14.4M | $22.2M | $20.9M | $20.0M | $19.0M | $15.4M | $18.3M | $16.2M | $17.6M | $16.1M |
| Capital expenditure | $73.3M | $87.0M | $108.2M | $76.3M | $27.9M | $50.6M | $204.1M | $184.1M | $278.1M | $327.9M |
| Investing cash flow | -$76.0M | -$87.0M | -$50.7M | -$54.6M | -$27.9M | -$50.6M | -$367.3M | -$187.5M | -$354.1M | -$366.5M |
| Financing cash flow | -$212.3M | -$301.7M | -$92.6M | -$130.0M | -$96.8M | -$178.5M | -$91.4M | -$257.3M | -$58.3M | -$46.8M |
| Dividends paid | $53.9M | $49.3M | $42.2M | $33.7M | $0 | $14.2M | $4.2M | $48.4M | $42.6M | $39.8M |
| Buybacks | $454.3M | $252.2M | $30.1M | $0 | $0 | $24.6M | $143.0M | $357.7M | $150.3M | $111.1M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-046377.
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