Hexcel (HXL) Financials

$88.34 -0.94 (-1.06%)

Closing price 05/19/2026 03:59 PM Eastern

Extended Trading

$89.64 +1.30 (+1.47%)

As of 05/19/2026 07:19 PM Eastern

Annual Income Statements for Hexcel

This table shows Hexcel's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	237	250	284	277	307	32	16	126	106	132	109
Consolidated Net Income / (Loss)	237	250	284	277	307	32	16	126	106	132	109
Net Income / (Loss) Continuing Operations	237	250	284	277	307	32	16	126	106	132	109
Total Pre-Tax Income	318	338	323	334	380	-28	22	150	110	155	135
Total Operating Income	332	360	351	371	425	14	52	175	215	186	172
Total Gross Profit	533	565	552	581	640	240	250	357	433	470	435
Total Revenue	1,861	2,004	1,973	2,189	2,356	1,502	1,325	1,578	1,789	1,903	1,894
Operating Revenue	1,861	2,004	1,973	2,189	2,356	1,502	1,325	1,578	1,789	1,903	1,894
Total Cost of Revenue	1,328	1,440	1,422	1,608	1,715	1,263	1,075	1,221	1,356	1,433	1,459
Operating Cost of Revenue	1,328	1,440	1,422	1,608	1,715	1,263	1,075	1,221	1,356	1,433	1,459
Total Operating Expenses	200	205	201	210	215	226	198	182	218	284	263
Selling, General & Admin Expense	156	158	152	146	159	121	135	148	164	177	169
Research & Development Expense	44	47	49	56	57	47	45	46	53	57	56
Other Operating Expenses / (Income)	-	-	-	7.70	0.00	58	18	-12	1.40	50	38
Total Other Income / (Expense), net	-14	-23	-27	-38	-46	-42	-30	-25	-106	-31	-37
Interest Expense	14	22	27	38	46	42	38	36	34	31	38
Other Income / (Expense), net	-	-0.40	-	-	-	0.00	8.50	11	-72	0.00	1.10
Income Tax Expense	83	90	43	63	77	-61	5.90	32	12	23	26
Other Gains / (Losses), net	2.00	2.50	3.30	5.60	3.70	-1.60	0.00	8.10	8.10	0.00	0.00
Basic Earnings per Share	$2.48	$2.69	$3.13	$3.15	$3.61	$0.38	$0.19	$1.50	$1.25	$1.61	$1.38
Weighted Average Basic Shares Outstanding	95.80M	92.80M	90.60M	87.90M	84.90M	83.80M	84.10M	84.40M	84.60M	82.30M	79.50M
Diluted Earnings per Share	$2.44	$2.65	$3.09	$3.11	$3.57	$0.38	$0.19	$1.49	$1.24	$1.59	$1.37
Weighted Average Diluted Shares Outstanding	97.20M	94.20M	91.90M	89M	85.80M	84M	84.60M	85M	85.50M	83M	80M
Weighted Average Basic & Diluted Shares Outstanding	93.29M	91.51M	89.84M	84.79M	83.34M	83.65M	83.99M	84.28M	84.39M	81.13M	75.87M
Cash Dividends to Common per Share	$0.40	$0.44	$0.47	$0.55	$0.64	$0.17	-	$0.40	$0.50	$0.60	$0.68

This table shows Hexcel's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	39	-18	37	50	40	5.80	29	14	21	46	37
Consolidated Net Income / (Loss)	39	-18	37	50	40	5.80	29	14	21	46	37
Net Income / (Loss) Continuing Operations	39	-18	37	50	40	5.80	29	14	21	46	37
Total Pre-Tax Income	36	-32	46	64	44	0.80	36	22	27	50	46
Total Operating Income	44	48	53	72	53	8.90	44	30	36	61	58
Total Gross Profit	92	103	118	127	107	119	102	112	100	121	135
Total Revenue	420	458	472	500	457	474	457	490	456	491	502
Operating Revenue	420	458	472	500	457	474	457	490	456	491	502
Total Cost of Revenue	328	354	354	374	350	355	354	378	356	370	367
Operating Cost of Revenue	328	354	354	374	350	355	354	378	356	370	367
Total Operating Expenses	48	56	65	55	54	110	58	82	64	60	77
Selling, General & Admin Expense	35	42	49	40	40	48	43	43	41	42	49
Research & Development Expense	13	12	15	15	14	14	14	14	14	14	18
Other Operating Expenses / (Income)	-0.80	1.50	1.20	0.20	0.40	48	1.10	24	8.80	3.70	9.90
Total Other Income / (Expense), net	-7.80	-79	-6.50	-8.10	-8.50	-8.10	-8.20	-8.20	-9.20	-11	-12
Interest Expense	7.80	7.60	6.50	8.10	8.50	8.10	7.80	9.10	9.20	12	12
Other Income / (Expense), net	0.00	-	0.00	0.00	0.00	-	-0.40	0.90	0.00	0.60	-0.30
Income Tax Expense	-0.70	-10	9.90	14	4.20	-5.00	7.10	8.30	6.20	4.00	8.30
Basic Earnings per Share	$0.46	($0.21)	$0.44	$0.61	$0.49	$0.07	$0.36	$0.17	$0.26	$0.59	$0.49
Weighted Average Basic Shares Outstanding	84.60M	84.60M	83.90M	82.50M	81.50M	82.30M	81.10M	80.20M	79.80M	79.50M	75.90M
Diluted Earnings per Share	$0.45	($0.21)	$0.43	$0.60	$0.49	$0.07	$0.35	$0.17	$0.26	$0.59	$0.49
Weighted Average Diluted Shares Outstanding	85.60M	85.50M	84.80M	83.20M	82.10M	83M	81.70M	80.60M	80.30M	80M	76.70M
Weighted Average Basic & Diluted Shares Outstanding	84.11M	84.39M	83.11M	81.75T	81.00T	81.13M	80.41M	79.56M	79.61M	75.87M	75.43M
Cash Dividends to Common per Share	$0.13	-	$0.15	$0.15	$0.15	-	$0.17	$0.17	$0.17	-	$0.18

This table details how cash moves in and out of Hexcel's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-19	-17	25	-27	32	39	24	-16	115	-102	-54
Net Cash From Operating Activities	301	401	429	421	491	264	152	173	257	290	231
Net Cash From Continuing Operating Activities	301	401	429	421	491	264	152	173	257	290	231
Net Income / (Loss) Continuing Operations	237	250	284	277	307	32	16	126	106	132	109
Consolidated Net Income / (Loss)	237	250	284	277	307	32	16	126	106	132	109
Depreciation Expense	76	93	105	123	142	141	138	126	125	124	122
Amortization Expense	1.10	1.70	0.70	1.60	0.90	1.20	3.10	0.70	0.60	0.40	0.10
Non-Cash Adjustments To Reconcile Net Income	6.70	14	14	18	12	40	13	-6.90	84	51	29
Changes in Operating Assets and Liabilities, net	-20	43	25	1.80	30	51	-19	-73	-58	-18	-30
Net Cash From Investing Activities	-305	-367	-354	-188	-367	-51	-28	-55	-51	-87	-76
Net Cash From Continuing Investing Activities	-305	-367	-354	-188	-367	-51	-28	-55	-51	-87	-76
Purchase of Property, Plant & Equipment	-305	-328	-278	-184	-204	-51	-28	-76	-108	-87	-73
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	0.00	0.50	47	0.00	0.00
Other Investing Activities, net	-	-	-	-	-	0.00	0.00	21	10	0.00	-2.70
Net Cash From Financing Activities	-11	-47	-58	-257	-91	-179	-97	-130	-93	-302	-212
Net Cash From Continuing Financing Activities	-11	-47	-58	-257	-91	-179	-97	-130	-93	-302	-212
Repayment of Debt	-136	-485	-782	-604	-827	-558	-104	-151	-191	-160	-489
Repurchase of Common Equity	-146	-111	-150	-358	-143	-25	0.00	0.00	-30	-252	-454
Payment of Dividends	-38	-40	-43	-48	-54	-14	0.00	-34	-42	-49	-54
Issuance of Debt	300	591	895	752	926	422	0.00	50	163	160	780
Other Financing Activities, net	9.70	-1.40	10	0.80	6.30	-3.30	7.10	4.30	7.40	-0.50	5.10
Effect of Exchange Rate Changes	-3.90	-4.70	8.60	-4.00	-0.70	3.70	-2.60	-4.20	1.20	-2.80	3.40
Cash Interest Paid	-	-	-	-	45	42	36	35	35	34	40
Cash Income Taxes Paid	-	-	-	-	57	-0.20	1.20	36	59	42	7.30

This table details how cash moves in and out of Hexcel's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-6.50	129	-141	-11	23	27	-36	-12	13	-20	-17
Net Cash From Operating Activities	68	159	-7.00	44	90	163	-29	23	110	126	19
Net Cash From Continuing Operating Activities	68	159	-7.00	44	90	163	-29	23	110	126	19
Net Income / (Loss) Continuing Operations	39	-18	37	50	40	5.80	29	14	21	46	37
Consolidated Net Income / (Loss)	39	-18	37	50	40	5.80	29	14	21	46	37
Depreciation Expense	32	32	31	31	31	31	30	31	31	31	30
Amortization Expense	0.10	0.10	0.10	0.10	0.10	0.10	0.00	0.10	-	-	0.40
Non-Cash Adjustments To Reconcile Net Income	-0.90	74	14	2.60	2.90	32	11	26	-7.60	-0.60	13
Changes in Operating Assets and Liabilities, net	-1.40	71	-88	-40	16	94	-98	-47	66	49	-62
Net Cash From Investing Activities	-9.30	31	-29	-23	-17	-19	-27	-15	-15	-18	-25
Net Cash From Continuing Investing Activities	-9.30	31	-29	-23	-17	-19	-27	-15	-15	-18	-25
Purchase of Property, Plant & Equipment	-20	-14	-29	-23	-17	-19	-26	-15	-14	-18	-25
Other Investing Activities, net	-	-	0.00	-	-	-	-1.10	-	-1.60	-	0.00
Net Cash From Financing Activities	-64	-63	-104	-32	-52	-114	18	-22	-81	-127	-10
Net Cash From Continuing Financing Activities	-64	-63	-104	-32	-52	-114	18	-22	-81	-127	-10
Repayment of Debt	-25	-55	-0.10	-202	147	-105	-304	-630	-70	-85	-312
Repurchase of Common Equity	-	-	-101	-	-	-	-50	-51	-	-353	0.00
Payment of Dividends	-11	-11	-13	-12	-12	-12	-14	-14	-14	-13	-14
Issuance of Debt	0.10	-	15	80	65	-	390	670	-	320	315
Other Financing Activities, net	2.00	2.70	-5.90	1.60	1.00	2.80	-3.40	1.60	2.30	4.60	0.30
Effect of Exchange Rate Changes	-1.50	2.30	-1.10	-	-	-	1.30	2.30	-0.20	-	-0.40

This table presents Hexcel's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,187	2,401	2,781	2,824	3,129	2,918	2,819	2,837	2,919	2,726	2,704
Total Current Assets	634	607	657	676	705	536	616	734	864	782	731
Cash & Equivalents	52	35	60	33	64	103	128	112	227	125	71
Accounts Receivable	234	246	249	261	228	125	160	223	235	212	249
Inventories, net	307	291	314	298	333	214	246	319	334	356	329
Prepaid Expenses	41	35	34	34	27	38	40	39	43	51	46
Other Current Assets	-	-	-	51	53	43	31	32	25	30	36
Other Current Nonoperating Assets	-	-	-	-	0.00	13	13	9.50	0.00	7.50	0.00
Plant, Property, & Equipment, net	1,426	1,626	1,866	1,877	1,943	1,874	1,746	1,658	1,679	1,597	1,612
Plant, Property & Equipment, gross	2,099	2,378	2,744	2,902	3,075	3,140	3,110	3,088	3,196	3,163	3,322
Accumulated Depreciation	674	753	878	1,026	1,132	1,266	1,364	1,430	1,517	1,566	1,711
Total Noncurrent Assets	128	168	258	272	481	508	457	445	376	347	362
Long-Term Investments	30	53	48	49	47	45	45	48	5.00	5.00	5.00
Goodwill	59	72	149	142	280	278	268	256	251	237	240
Other Noncurrent Operating Assets	39	43	62	81	154	185	145	142	119	105	117
Total Liabilities & Shareholders' Equity	2,187	2,401	2,781	2,824	3,129	2,918	2,819	2,837	2,919	2,726	2,704
Total Liabilities	1,008	1,156	1,286	1,502	1,683	1,408	1,334	1,283	1,202	1,198	1,453
Total Current Liabilities	293	272	262	327	323	183	248	330	316	354	323
Short-Term Debt	-	4.30	4.30	9.40	9.50	0.90	0.90	0.20	0.10	0.10	0.00
Accounts Payable	149	137	144	162	158	70	113	156	159	142	147
Accrued Expenses	81	64	41	70	63	65	73	83	75	99	93
Current Employee Benefit Liabilities	63	67	73	76	74	43	54	70	76	100	79
Other Current Liabilities	-	-	-	9.70	18	3.60	5.70	22	6.00	8.00	3.80
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	0.00	4.20	0.00
Total Noncurrent Liabilities	715	884	1,024	1,175	1,360	1,225	1,086	953	886	844	1,131
Long-Term Debt	577	684	806	947	1,051	926	822	723	699	701	993
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	145	156	153	140	126	111	81	87
Noncurrent Employee Benefit Liabilities	-	-	-	42	53	54	53	43	43	32	28
Other Noncurrent Operating Liabilities	100	159	173	41	100	92	71	61	34	31	23
Total Equity & Noncontrolling Interests	1,180	1,245	1,495	1,322	1,446	1,510	1,486	1,554	1,717	1,528	1,251
Total Preferred & Common Equity	1,180	1,245	1,495	1,322	1,446	1,510	1,486	1,554	1,717	1,528	1,251
Total Common Equity	1,180	1,245	1,495	1,322	1,446	1,510	1,486	1,554	1,717	1,528	1,251
Common Stock	717	740	775	799	831	851	880	906	938	971	996
Retained Earnings	1,044	1,255	1,496	1,727	1,979	1,996	2,013	2,105	2,169	2,252	2,307
Treasury Stock	-458	-575	-731	-1,096	-1,245	-1,277	-1,280	-1,282	-1,316	-1,580	-2,039
Accumulated Other Comprehensive Income / (Loss)	-124	-174	-45	-108	-119	-60	-127	-174	-74	-115	-13

This table presents Hexcel's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,776	2,907	2,922	2,846	2,821	2,828	2,862	2,779	2,843	2,758	2,724
Total Current Assets	685	808	810	765	790	808	828	823	847	787	770
Cash & Equivalents	91	106	104	98	86	75	98	89	77	91	54
Accounts Receivable	203	265	257	237	271	283	259	259	271	234	291
Inventories, net	303	355	361	351	354	352	376	382	375	358	340
Prepaid Expenses	43	44	51	49	48	63	60	50	75	66	44
Other Current Assets	33	29	27	31	31	35	36	36	41	39	40
Other Current Nonoperating Assets	13	9.50	9.50	0.00	0.00	0.00	0.00	7.50	7.50	0.00	0.00
Plant, Property, & Equipment, net	1,629	1,651	1,680	1,653	1,658	1,649	1,658	1,605	1,629	1,612	1,593
Plant, Property & Equipment, gross	3,005	3,116	3,163	3,145	3,195	3,212	3,271	3,207	3,298	3,308	3,312
Accumulated Depreciation	1,375	1,465	1,483	1,492	1,537	1,563	1,613	1,602	1,669	1,695	1,719
Total Noncurrent Assets	461	449	432	428	373	371	377	352	367	359	361
Long-Term Investments	47	53	50	52	5.00	5.00	5.00	5.00	5.00	5.00	5.00
Goodwill	253	255	254	251	249	247	248	240	243	241	237
Other Noncurrent Operating Assets	161	141	127	126	120	120	124	107	119	113	119
Total Liabilities & Shareholders' Equity	2,776	2,907	2,922	2,846	2,821	2,828	2,862	2,779	2,843	2,758	2,724
Total Liabilities	1,331	1,285	1,256	1,200	1,189	1,256	1,273	1,247	1,289	1,192	1,458
Total Current Liabilities	284	290	276	253	289	294	300	318	316	286	314
Short-Term Debt	0.30	0.20	0.10	0.10	0.10	0.10	0.10	0.10	0.00	0.00	0.00
Accounts Payable	113	122	118	98	128	125	124	118	111	124	141
Accrued Expenses	61	92	83	71	89	85	80	105	127	86	104
Current Employee Benefit Liabilities	69	61	62	70	67	80	96	88	71	73	67
Other Current Liabilities	40	15	14	14	4.50	3.20	0.40	2.80	2.10	2.90	1.70
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	4.20	4.20	0.00	0.00
Total Noncurrent Liabilities	1,047	995	980	947	901	963	973	929	974	906	1,144
Long-Term Debt	797	769	779	754	715	795	805	787	828	758	998
Noncurrent Deferred & Payable Income Tax Liabilities	121	124	118	112	108	107	106	84	83	92	88
Noncurrent Employee Benefit Liabilities	47	44	45	45	44	31	33	30	31	30	28
Other Noncurrent Operating Liabilities	81	58	38	36	33	30	29	28	32	26	30
Total Equity & Noncontrolling Interests	1,445	1,622	1,666	1,646	1,632	1,571	1,590	1,533	1,554	1,567	1,266
Total Preferred & Common Equity	1,445	1,622	1,666	1,646	1,632	1,571	1,590	1,533	1,554	1,567	1,266
Total Common Equity	1,445	1,622	1,666	1,646	1,632	1,571	1,590	1,533	1,554	1,567	1,266
Common Stock	900	922	927	933	956	961	965	982	987	990	994
Retained Earnings	2,076	2,137	2,169	2,197	2,193	2,230	2,258	2,267	2,266	2,274	2,331
Treasury Stock	-1,282	-1,285	-1,285	-1,316	-1,427	-1,528	-1,580	-1,635	-1,685	-1,686	-2,027
Accumulated Other Comprehensive Income / (Loss)	-249	-152	-145	-168	-89	-91	-54	-81	-14	-11	-31

This table displays calculated financial ratios and metrics derived from Hexcel's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.31%	7.69%	-1.55%	10.94%	7.61%	-36.22%	-11.83%	19.10%	13.39%	6.37%	-0.48%
EBITDA Growth	8.41%	10.93%	0.24%	8.80%	14.50%	-72.49%	28.94%	55.36%	-14.00%	15.38%	-4.96%
EBIT Growth	8.88%	8.21%	-2.53%	5.88%	14.55%	-96.68%	327.66%	208.46%	-22.74%	29.51%	-7.20%
NOPAT Growth	14.84%	7.36%	15.44%	-0.94%	12.45%	-97.09%	284.07%	264.68%	38.56%	-17.15%	-12.38%
Net Income Growth	13.28%	5.31%	13.69%	-2.61%	10.85%	-89.66%	-49.21%	684.47%	-16.31%	24.98%	-17.18%
EPS Growth	15.09%	8.61%	16.60%	0.65%	14.79%	-89.36%	-50.00%	684.21%	-16.78%	28.23%	-13.84%
Operating Cash Flow Growth	-5.35%	33.36%	6.80%	-1.70%	16.54%	-46.18%	-42.60%	14.11%	48.53%	12.76%	-20.49%
Free Cash Flow Firm Growth	-72.46%	180.83%	-151.31%	735.90%	-53.13%	-8.58%	47.10%	-19.19%	-24.35%	113.35%	-73.26%
Invested Capital Growth	14.56%	10.24%	19.07%	0.01%	9.01%	-4.98%	-6.68%	-0.72%	3.58%	-4.08%	3.48%
Revenue Q/Q Growth	-0.37%	0.94%	1.45%	2.30%	0.14%	-15.16%	5.12%	4.58%	1.60%	0.86%	0.93%
EBITDA Q/Q Growth	1.34%	2.20%	2.22%	1.43%	0.58%	-42.78%	35.26%	8.20%	-19.26%	-11.24%	21.79%
EBIT Q/Q Growth	1.25%	1.52%	1.80%	0.71%	0.38%	-89.31%	617.86%	17.95%	-30.98%	-17.22%	44.40%
NOPAT Q/Q Growth	1.36%	2.11%	11.96%	-7.00%	2.58%	-94.60%	544.70%	12.20%	9.96%	-17.71%	44.93%
Net Income Q/Q Growth	0.42%	2.29%	11.20%	-7.37%	2.37%	-74.50%	172.52%	16.73%	-34.31%	22.20%	59.01%
EPS Q/Q Growth	0.83%	3.11%	11.55%	-6.04%	2.88%	-74.15%	173.08%	17.32%	-34.39%	21.37%	61.18%
Operating Cash Flow Q/Q Growth	3.61%	-5.22%	1.32%	5.72%	16.85%	-28.72%	-11.55%	20.29%	19.69%	1.26%	-13.86%
Free Cash Flow Firm Q/Q Growth	31.61%	-30.77%	-224.81%	124.23%	-2.80%	-47.79%	5.22%	-36.45%	690.09%	62.32%	-58.16%
Invested Capital Q/Q Growth	-2.42%	0.27%	5.92%	-2.95%	-2.21%	-4.57%	-3.90%	0.80%	-2.99%	-8.58%	-2.75%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.63%	28.17%	27.96%	26.53%	27.19%	15.95%	18.88%	22.63%	24.21%	24.69%	22.96%
EBITDA Margin	22.02%	22.69%	23.10%	22.65%	24.10%	10.40%	15.20%	19.83%	15.04%	16.32%	15.58%
Operating Margin	17.86%	17.97%	17.77%	16.96%	18.05%	0.94%	3.91%	11.10%	12.03%	9.78%	9.06%
EBIT Margin	17.86%	17.95%	17.77%	16.96%	18.05%	0.94%	4.55%	11.79%	8.03%	9.78%	9.12%
Profit (Net Income) Margin	12.74%	12.46%	14.39%	12.64%	13.02%	2.11%	1.22%	8.01%	5.91%	6.94%	5.78%
Tax Burden Percent	74.54%	73.99%	87.87%	82.94%	80.75%	-114.44%	73.18%	84.31%	96.35%	85.28%	81.04%
Interest Burden Percent	95.73%	93.86%	92.18%	89.84%	89.30%	-196.45%	36.48%	80.54%	76.34%	83.23%	78.17%
Effective Tax Rate	26.08%	26.75%	13.15%	18.74%	20.23%	0.00%	26.82%	21.09%	11.03%	14.72%	18.96%
Return on Invested Capital (ROIC)	15.67%	14.99%	15.06%	13.73%	14.77%	0.42%	1.72%	6.53%	8.92%	7.42%	6.52%
ROIC Less NNEP Spread (ROIC-NNEP)	13.56%	12.44%	11.92%	10.55%	11.20%	2.97%	-1.38%	4.53%	-7.88%	2.27%	2.53%
Return on Net Nonoperating Assets (RNNOA)	4.69%	5.62%	5.67%	5.91%	7.38%	1.72%	-0.65%	1.78%	-2.46%	0.73%	1.35%
Return on Equity (ROE)	20.36%	20.61%	20.73%	19.64%	22.15%	2.14%	1.07%	8.31%	6.46%	8.14%	7.87%
Cash Return on Invested Capital (CROIC)	2.10%	5.25%	-2.35%	13.72%	6.15%	5.53%	8.64%	7.26%	5.41%	11.58%	3.11%
Operating Return on Assets (OROA)	15.74%	15.68%	13.53%	13.25%	14.29%	0.47%	2.10%	6.58%	4.99%	6.59%	6.36%
Return on Assets (ROA)	11.23%	10.89%	10.96%	9.87%	10.30%	1.05%	0.56%	4.47%	3.67%	4.68%	4.03%
Return on Common Equity (ROCE)	20.36%	20.61%	20.73%	19.64%	22.15%	2.14%	1.07%	8.31%	6.46%	8.14%	7.87%
Return on Equity Simple (ROE_SIMPLE)	20.11%	20.07%	19.00%	20.92%	21.20%	2.10%	1.08%	8.13%	6.16%	8.65%	0.00%
Net Operating Profit after Tax (NOPAT)	246	264	304	302	339	9.87	38	138	192	159	139
NOPAT Margin	13.20%	13.16%	15.43%	13.78%	14.40%	0.66%	2.86%	8.76%	10.71%	8.34%	7.34%
Net Nonoperating Expense Percent (NNEP)	2.11%	2.55%	3.15%	3.17%	3.57%	-2.55%	3.11%	2.00%	16.80%	5.14%	4.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	6.07%	7.93%	7.12%	6.20%
Cost of Revenue to Revenue	71.37%	71.83%	72.04%	73.47%	72.81%	84.05%	81.12%	77.37%	75.79%	75.31%	77.04%
SG&A Expenses to Revenue	8.39%	7.86%	7.69%	6.67%	6.74%	8.06%	10.19%	9.38%	9.16%	9.28%	8.92%
R&D to Revenue	2.38%	2.34%	2.50%	2.55%	2.40%	3.10%	3.40%	2.90%	2.95%	3.00%	2.98%
Operating Expenses to Revenue	10.77%	10.20%	10.20%	9.57%	9.14%	15.02%	14.97%	11.53%	12.18%	14.91%	13.90%
Earnings before Interest and Taxes (EBIT)	332	360	351	371	425	14	60	186	144	186	173
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	410	455	456	496	568	156	201	313	269	311	295
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.61	3.71	3.65	3.74	4.25	2.64	2.89	3.17	3.64	3.41	4.72
Price to Tangible Book Value (P/TBV)	3.80	3.93	4.05	4.19	5.27	3.24	3.52	3.79	4.26	4.03	5.84
Price to Revenue (P/Rev)	2.29	2.30	2.77	2.26	2.61	2.65	3.24	3.12	3.49	2.73	3.12
Price to Earnings (P/E)	17.94	18.47	19.22	17.87	20.04	125.82	266.53	38.95	59.10	39.40	53.93
Dividend Yield	0.91%	0.88%	0.79%	0.99%	0.89%	1.39%	0.00%	0.69%	0.68%	0.96%	0.92%
Earnings Yield	5.57%	5.42%	5.20%	5.60%	4.99%	0.79%	0.38%	2.57%	1.69%	2.54%	1.85%
Enterprise Value to Invested Capital (EV/IC)	2.84	2.83	2.80	2.65	2.96	2.09	2.33	2.60	3.07	2.76	3.14
Enterprise Value to Revenue (EV/Rev)	2.55	2.60	3.12	2.66	3.01	3.17	3.73	3.48	3.75	3.03	3.60
Enterprise Value to EBITDA (EV/EBITDA)	11.59	11.47	13.52	11.73	12.49	30.52	24.54	17.53	24.95	18.60	23.10
Enterprise Value to EBIT (EV/EBIT)	14.29	14.49	17.57	15.67	16.68	338.07	81.96	29.48	46.73	31.03	39.47
Enterprise Value to NOPAT (EV/NOPAT)	19.33	19.76	20.23	19.29	20.91	482.96	130.37	39.67	35.05	36.38	49.02
Enterprise Value to Operating Cash Flow (EV/OCF)	15.78	12.99	14.37	13.81	14.45	18.04	32.58	31.68	26.12	19.92	29.57
Enterprise Value to Free Cash Flow (EV/FCFF)	144.39	56.43	0.00	19.30	50.21	36.90	26.01	35.71	57.81	23.30	102.88
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.55	0.54	0.72	0.73	0.61	0.55	0.47	0.41	0.46	0.79
Long-Term Debt to Equity	0.49	0.55	0.54	0.72	0.73	0.61	0.55	0.47	0.41	0.46	0.79
Financial Leverage	0.35	0.45	0.48	0.56	0.66	0.58	0.47	0.39	0.31	0.32	0.53
Leverage Ratio	1.81	1.89	1.89	1.99	2.15	2.05	1.92	1.86	1.76	1.74	1.95
Compound Leverage Factor	1.74	1.78	1.74	1.79	1.92	-4.02	0.70	1.50	1.34	1.45	1.53
Debt to Total Capital	32.83%	35.62%	35.14%	41.99%	42.30%	38.02%	35.66%	31.76%	28.95%	31.44%	44.26%
Short-Term Debt to Total Capital	0.00%	0.22%	0.19%	0.41%	0.38%	0.04%	0.04%	0.01%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	32.83%	35.40%	34.95%	41.57%	41.92%	37.98%	35.62%	31.76%	28.95%	31.44%	44.26%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	67.17%	64.38%	64.86%	58.01%	57.70%	61.98%	64.34%	68.24%	71.05%	68.56%	55.74%
Debt to EBITDA	1.41	1.51	1.78	1.93	1.87	5.93	4.09	2.31	2.60	2.26	3.37
Net Debt to EBITDA	1.21	1.32	1.54	1.77	1.67	4.98	3.23	1.80	1.74	1.84	3.11
Long-Term Debt to EBITDA	1.41	1.51	1.77	1.91	1.85	5.93	4.08	2.31	2.60	2.26	3.37
Debt to NOPAT	2.35	2.61	2.66	3.17	3.13	93.86	21.72	5.23	3.65	4.42	7.14
Net Debt to NOPAT	2.01	2.28	2.31	2.90	2.80	78.87	17.17	4.08	2.44	3.59	6.59
Long-Term Debt to NOPAT	2.35	2.59	2.65	3.14	3.10	93.77	21.69	5.23	3.65	4.41	7.14
Altman Z-Score	4.74	4.62	4.60	4.19	4.43	3.33	3.63	4.28	5.16	4.88	4.72
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.17	2.23	2.51	2.07	2.19	2.93	2.49	2.23	2.74	2.21	2.26
Quick Ratio	0.98	1.03	1.18	0.90	0.91	1.25	1.16	1.01	1.46	0.95	0.99
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	33	92	-47	301	141	129	190	154	116	248	66
Operating Cash Flow to CapEx	98.59%	122.42%	154.15%	228.90%	240.62%	522.33%	543.73%	226.87%	237.62%	333.22%	314.46%
Free Cash Flow to Firm to Interest Expense	2.32	4.18	-1.73	8.00	3.11	3.09	4.96	4.24	3.42	7.94	1.76
Operating Cash Flow to Interest Expense	21.20	18.16	15.65	11.18	10.79	6.32	3.96	4.78	7.56	9.29	6.11
Operating Cash Flow Less CapEx to Interest Expense	-0.30	3.33	5.50	6.29	6.31	5.11	3.23	2.67	4.38	6.50	4.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.87	0.76	0.78	0.79	0.50	0.46	0.56	0.62	0.67	0.70
Accounts Receivable Turnover	7.96	8.36	7.98	8.59	9.64	8.51	9.27	8.24	7.82	8.52	8.21
Inventory Turnover	4.45	4.81	4.70	5.26	5.44	4.62	4.68	4.32	4.15	4.15	4.26
Fixed Asset Turnover	1.40	1.31	1.13	1.17	1.23	0.79	0.73	0.93	1.07	1.16	1.18
Accounts Payable Turnover	8.20	10.06	10.10	10.51	10.74	11.10	11.73	9.09	8.62	9.51	10.10
Days Sales Outstanding (DSO)	45.84	43.67	45.72	42.48	37.84	42.88	39.36	44.30	46.66	42.84	44.45
Days Inventory Outstanding (DIO)	82.06	75.83	77.67	69.42	67.12	79.00	77.99	84.48	87.99	87.94	85.68
Days Payable Outstanding (DPO)	44.50	36.28	36.13	34.72	33.99	32.90	31.11	40.18	42.35	38.38	36.13
Cash Conversion Cycle (CCC)	83.40	83.22	87.26	77.18	70.98	88.99	86.23	88.61	92.31	92.40	93.99
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,674	1,845	2,197	2,197	2,395	2,276	2,124	2,109	2,184	2,095	2,168
Invested Capital Turnover	1.19	1.14	0.98	1.00	1.03	0.64	0.60	0.75	0.83	0.89	0.89
Increase / (Decrease) in Invested Capital	213	171	352	0.20	198	-119	-152	-15	75	-89	73
Enterprise Value (EV)	4,750	5,213	6,161	5,818	7,094	4,767	4,942	5,484	6,715	5,774	6,817
Market Capitalization	4,255	4,613	5,458	4,943	6,145	3,988	4,291	4,920	6,247	5,204	5,900
Book Value per Share	$12.48	$13.57	$16.64	$15.36	$17.14	$18.08	$17.71	$18.46	$20.41	$0.00	$15.71
Tangible Book Value per Share	$11.86	$12.78	$14.99	$13.70	$13.82	$14.75	$14.52	$15.42	$17.42	$0.00	$12.70
Total Capital	1,756	1,934	2,305	2,279	2,506	2,437	2,309	2,278	2,416	2,229	2,244
Total Debt	577	689	810	957	1,060	926	823	724	700	701	993
Total Long-Term Debt	577	684	806	947	1,051	926	822	723	699	701	993
Net Debt	494	600	702	875	949	778	651	564	468	570	917
Capital Expenditures (CapEx)	305	328	278	184	204	51	28	76	108	87	73
Debt-free, Cash-free Net Working Capital (DFCFNWC)	289	304	339	326	327	250	242	293	321	303	337
Debt-free Net Working Capital (DFNWC)	341	339	399	359	392	354	370	405	548	428	408
Net Working Capital (NWC)	341	335	395	349	382	353	369	405	548	428	408
Net Nonoperating Expense (NNE)	8.50	14	20	25	33	-22	22	12	86	27	30
Net Nonoperating Obligations (NNO)	494	600	702	875	949	766	638	554	468	567	917
Total Depreciation and Amortization (D&A)	78	95	105	125	143	142	141	127	125	124	122
Debt-free, Cash-free Net Working Capital to Revenue	15.55%	15.18%	17.17%	14.88%	13.90%	16.67%	18.26%	18.56%	17.97%	15.91%	17.79%
Debt-free Net Working Capital to Revenue	18.33%	16.93%	20.21%	16.38%	16.63%	23.54%	27.90%	25.66%	30.65%	22.50%	21.54%
Net Working Capital to Revenue	18.33%	16.72%	20.00%	15.95%	16.23%	23.48%	27.83%	25.64%	30.65%	22.49%	21.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.48	$2.69	$3.13	$3.15	$3.61	$0.00	$0.19	$1.50	$1.25	$1.61	$1.38
Adjusted Weighted Average Basic Shares Outstanding	95.80M	92.80M	90.60M	87.90M	84.90M	83.80M	84.10M	84.40M	84.60M	82.30M	79.50M
Adjusted Diluted Earnings per Share	$2.44	$2.65	$3.09	$3.11	$3.57	$0.00	$0.19	$1.49	$1.24	$1.59	$1.37
Adjusted Weighted Average Diluted Shares Outstanding	97.20M	94.20M	91.90M	89M	85.80M	84M	84.60M	85M	85.50M	83M	80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	93.29M	91.51M	89.84M	84.79M	83.34M	83.65M	83.99M	84.28M	84.39M	81.13M	75.87M
Normalized Net Operating Profit after Tax (NOPAT)	246	264	304	302	339	9.87	38	138	192	159	139
Normalized NOPAT Margin	13.20%	13.16%	15.43%	13.78%	14.40%	0.66%	2.86%	8.76%	10.71%	8.34%	7.34%
Pre Tax Income Margin	17.10%	16.84%	16.38%	15.23%	16.12%	-1.84%	1.66%	9.49%	6.13%	8.14%	7.13%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	23.41	16.28	12.80	9.85	9.35	0.34	1.57	5.14	4.23	5.96	4.58
NOPAT to Interest Expense	17.30	11.94	11.11	8.00	7.45	0.24	0.99	3.82	5.63	5.09	3.69
EBIT Less CapEx to Interest Expense	1.91	1.44	2.65	4.96	4.86	-0.87	0.85	3.03	1.04	3.18	2.64
NOPAT Less CapEx to Interest Expense	-4.20	-2.90	0.96	3.12	2.97	-0.97	0.26	1.71	2.45	2.30	1.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.15%	15.93%	15.00%	17.50%	17.68%	44.80%	0.00%	26.68%	39.92%	37.32%	49.27%
Augmented Payout Ratio	77.74%	60.41%	67.92%	146.82%	64.32%	122.40%	0.00%	26.68%	68.40%	228.24%	464.53%

This table displays calculated financial ratios and metrics derived from Hexcel's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	75,870,417.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	75,870,417.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.49
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	15.03%	6.54%	3.19%	10.15%	8.82%	3.56%	-3.35%	-2.10%	-0.07%	3.69%	9.86%
EBITDA Growth	4.44%	10.29%	-10.26%	11.12%	11.17%	-49.56%	-12.38%	-39.94%	-19.98%	132.00%	19.70%
EBIT Growth	6.86%	17.53%	-15.76%	17.13%	20.41%	-81.30%	-17.20%	-56.96%	-31.43%	596.63%	30.82%
NOPAT Growth	38.59%	-0.03%	-15.15%	17.98%	6.83%	93.65%	-14.73%	-67.04%	-41.73%	-12.40%	32.72%
Net Income Growth	44.40%	-149.19%	-14.52%	17.65%	2.84%	131.87%	-20.82%	-73.00%	-48.24%	700.00%	28.72%
EPS Growth	45.16%	-147.73%	-14.00%	20.00%	8.89%	133.33%	-18.60%	-71.67%	-46.94%	742.86%	40.00%
Operating Cash Flow Growth	78.48%	36.25%	70.09%	-17.38%	32.50%	2.26%	-307.14%	-47.29%	22.31%	-22.82%	166.67%
Free Cash Flow Firm Growth	-176.46%	-186.53%	3,457.01%	152.63%	106.34%	465.08%	692.86%	-84.07%	1,135.78%	-110.59%	-7.08%
Invested Capital Growth	7.63%	3.58%	1.48%	0.19%	1.79%	-4.08%	-1.49%	0.45%	-2.72%	3.48%	-0.77%
Revenue Q/Q Growth	-7.66%	9.06%	3.24%	5.95%	-8.77%	3.79%	-3.65%	7.32%	-6.88%	7.69%	2.08%
EBITDA Q/Q Growth	-18.79%	5.45%	5.93%	22.50%	-18.76%	-52.15%	84.00%	-16.03%	8.25%	38.71%	-5.06%
EBIT Q/Q Growth	-28.87%	9.17%	11.13%	35.73%	-26.88%	-83.05%	392.13%	-29.45%	16.50%	72.22%	-7.58%
NOPAT Q/Q Growth	-6.94%	-25.04%	24.89%	35.43%	-15.74%	35.87%	-45.01%	-47.64%	48.95%	104.28%	-16.69%
Net Income Q/Q Growth	-8.94%	-147.03%	300.55%	36.99%	-20.40%	-85.43%	398.28%	-53.29%	52.59%	125.24%	-19.83%
EPS Q/Q Growth	-10.00%	-146.67%	304.76%	39.53%	-18.33%	-85.71%	400.00%	-51.43%	52.94%	126.92%	-16.95%
Operating Cash Flow Q/Q Growth	27.10%	133.82%	-104.40%	731.43%	103.85%	80.47%	-117.53%	181.75%	372.96%	13.88%	-84.86%
Free Cash Flow Firm Q/Q Growth	-16.53%	63.42%	120.71%	496.32%	-85.97%	2,007.73%	-55.03%	-88.02%	988.09%	-118.07%	494.47%
Invested Capital Q/Q Growth	-1.32%	-2.99%	3.29%	1.33%	0.25%	-8.58%	6.08%	3.32%	-2.92%	-2.75%	1.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.84%	22.54%	25.03%	25.30%	23.33%	25.01%	22.43%	22.76%	21.90%	24.63%	26.86%
EBITDA Margin	17.93%	17.33%	17.79%	20.56%	18.31%	8.44%	16.12%	12.61%	14.66%	18.89%	17.57%
Operating Margin	10.39%	10.40%	11.20%	14.35%	11.50%	1.88%	9.68%	6.12%	7.89%	12.50%	11.49%
EBIT Margin	10.39%	10.40%	11.20%	14.35%	11.50%	1.88%	9.59%	6.31%	7.89%	12.62%	11.43%
Profit (Net Income) Margin	9.23%	-3.98%	7.73%	9.99%	8.72%	1.22%	6.33%	2.76%	4.52%	9.44%	7.42%
Tax Burden Percent	108.10%	57.59%	78.66%	78.49%	90.45%	725.00%	80.28%	61.93%	76.87%	92.06%	81.76%
Interest Burden Percent	82.11%	-66.39%	87.71%	88.72%	83.81%	8.99%	82.19%	70.55%	74.44%	81.29%	79.41%
Effective Tax Rate	-1.96%	0.00%	21.34%	21.51%	9.55%	-625.00%	19.72%	38.07%	23.13%	7.94%	18.24%
Return on Invested Capital (ROIC)	8.59%	6.07%	7.10%	9.12%	8.64%	12.11%	6.55%	3.11%	5.04%	10.22%	8.22%
ROIC Less NNEP Spread (ROIC-NNEP)	7.67%	-4.01%	6.26%	8.17%	7.46%	0.76%	5.55%	2.41%	4.00%	8.86%	7.01%
Return on Net Nonoperating Assets (RNNOA)	3.11%	-1.25%	2.36%	3.35%	3.02%	0.24%	2.30%	1.12%	1.73%	4.73%	4.08%
Return on Equity (ROE)	11.70%	4.82%	9.45%	12.48%	11.66%	12.36%	8.85%	4.23%	6.76%	14.96%	12.30%
Cash Return on Invested Capital (CROIC)	0.68%	5.41%	6.78%	8.23%	6.72%	11.58%	8.33%	4.63%	7.01%	3.11%	7.58%
Operating Return on Assets (OROA)	6.51%	6.47%	7.05%	9.23%	7.60%	1.27%	6.47%	4.17%	5.27%	8.80%	8.05%
Return on Assets (ROA)	5.78%	-2.47%	4.87%	6.43%	5.76%	0.83%	4.27%	1.82%	3.01%	6.59%	5.23%
Return on Common Equity (ROCE)	11.70%	4.82%	9.45%	12.48%	11.66%	12.36%	8.85%	4.23%	6.76%	14.96%	12.30%
Return on Equity Simple (ROE_SIMPLE)	9.77%	0.00%	6.10%	6.81%	6.80%	0.00%	8.12%	5.66%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	44	33	42	56	47	65	35	19	28	57	47
NOPAT Margin	10.60%	7.28%	8.81%	11.26%	10.40%	13.62%	7.77%	3.79%	6.07%	11.51%	9.39%
Net Nonoperating Expense Percent (NNEP)	0.92%	10.08%	0.84%	0.96%	1.18%	11.35%	1.00%	0.70%	1.04%	1.36%	1.21%
Return On Investment Capital (ROIC_SIMPLE)	-	1.38%	-	-	-	2.90%	1.53%	0.78%	1.19%	2.52%	2.08%
Cost of Revenue to Revenue	78.16%	77.46%	74.97%	74.70%	76.67%	74.99%	77.57%	77.24%	78.10%	75.37%	73.14%
SG&A Expenses to Revenue	8.44%	9.16%	10.37%	7.97%	8.72%	10.11%	9.49%	8.78%	9.01%	8.47%	9.85%
R&D to Revenue	3.19%	2.64%	3.20%	2.94%	3.02%	2.85%	3.02%	2.92%	3.07%	2.91%	3.55%
Operating Expenses to Revenue	11.44%	12.13%	13.83%	10.95%	11.83%	23.13%	12.75%	16.64%	14.01%	12.13%	15.37%
Earnings before Interest and Taxes (EBIT)	44	48	53	72	53	8.90	44	31	36	62	57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	75	79	84	103	84	40	74	62	67	93	88
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.36	3.64	3.77	3.30	3.19	3.41	2.92	2.93	3.21	4.72	4.90
Price to Tangible Book Value (P/TBV)	3.96	4.26	4.45	3.91	3.78	4.03	3.46	3.47	3.80	5.84	6.03
Price to Revenue (P/Rev)	3.14	3.49	3.41	2.80	2.69	2.73	2.37	2.43	2.68	3.12	3.20
Price to Earnings (P/E)	34.35	59.10	61.80	48.45	46.96	39.40	35.93	51.74	73.18	53.93	52.74
Dividend Yield	0.74%	0.68%	0.72%	0.88%	0.93%	0.96%	1.13%	1.13%	1.05%	0.92%	0.85%
Earnings Yield	2.91%	1.69%	1.62%	2.06%	2.13%	2.54%	2.78%	1.93%	1.37%	1.85%	1.90%
Enterprise Value to Invested Capital (EV/IC)	2.72	3.07	3.00	2.58	2.52	2.76	2.33	2.31	2.56	3.14	3.24
Enterprise Value to Revenue (EV/Rev)	3.48	3.75	3.76	3.19	3.06	3.03	2.74	2.82	3.04	3.60	3.69
Enterprise Value to EBITDA (EV/EBITDA)	18.40	24.95	20.46	17.28	16.52	18.60	17.22	20.46	23.51	23.10	23.08
Enterprise Value to EBIT (EV/EBIT)	29.46	46.73	32.98	27.32	25.70	31.03	29.19	38.93	47.64	39.47	38.38
Enterprise Value to NOPAT (EV/NOPAT)	35.20	35.05	36.65	30.67	29.96	36.38	33.80	45.56	59.38	49.02	47.42
Enterprise Value to Operating Cash Flow (EV/OCF)	28.55	26.12	24.76	22.33	20.18	19.92	19.25	21.41	21.29	29.57	25.71
Enterprise Value to Free Cash Flow (EV/FCFF)	417.14	57.81	44.59	31.39	37.85	23.30	27.71	49.98	35.98	102.88	42.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.41	0.44	0.51	0.51	0.46	0.51	0.53	0.48	0.79	0.79
Long-Term Debt to Equity	0.46	0.41	0.44	0.51	0.51	0.46	0.51	0.53	0.48	0.79	0.79
Financial Leverage	0.40	0.31	0.38	0.41	0.40	0.32	0.42	0.47	0.43	0.53	0.58
Leverage Ratio	1.82	1.76	1.76	1.78	1.76	1.74	1.77	1.81	1.78	1.95	1.97
Compound Leverage Factor	1.49	-1.17	1.54	1.58	1.48	0.16	1.45	1.28	1.33	1.59	1.56
Debt to Total Capital	31.42%	28.95%	30.45%	33.60%	33.62%	31.44%	33.93%	34.75%	32.60%	44.26%	44.08%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	31.41%	28.95%	30.45%	33.59%	33.62%	31.44%	33.93%	34.75%	32.60%	44.26%	44.08%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	68.58%	71.05%	69.55%	66.40%	66.38%	68.56%	66.07%	65.25%	67.40%	55.74%	55.92%
Debt to EBITDA	2.26	2.60	2.16	2.33	2.30	2.26	2.62	3.20	3.13	3.37	3.22
Net Debt to EBITDA	1.82	1.74	1.88	2.09	2.01	1.84	2.31	2.88	2.73	3.11	3.03
Long-Term Debt to EBITDA	2.26	2.60	2.16	2.33	2.30	2.26	2.62	3.20	3.13	3.37	3.22
Debt to NOPAT	4.33	3.65	3.87	4.13	4.17	4.42	5.15	7.12	7.90	7.14	6.62
Net Debt to NOPAT	3.47	2.44	3.38	3.72	3.64	3.59	4.53	6.41	6.90	6.59	6.23
Long-Term Debt to NOPAT	4.33	3.65	3.87	4.13	4.17	4.41	5.15	7.12	7.90	7.14	6.62
Altman Z-Score	4.73	5.05	5.11	4.54	4.44	4.66	4.24	4.16	4.63	4.59	4.73
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.03	2.74	2.74	2.75	2.76	2.21	2.59	2.69	2.75	2.26	2.45
Quick Ratio	1.32	1.46	1.24	1.22	1.19	0.95	1.10	1.10	1.14	0.99	1.10
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-115	-42	8.71	52	7.29	154	69	8.28	90	-16	64
Operating Cash Flow to CapEx	346.94%	1,152.17%	-24.39%	193.01%	536.31%	874.19%	-109.20%	152.29%	804.38%	689.56%	75.40%
Free Cash Flow to Firm to Interest Expense	-14.75	-5.54	1.34	6.41	0.86	18.97	8.86	0.91	9.79	-1.40	5.44
Operating Cash Flow to Interest Expense	8.72	20.92	-1.08	5.46	10.60	20.07	-3.65	2.56	11.98	10.82	1.61
Operating Cash Flow Less CapEx to Interest Expense	6.21	19.11	-5.49	2.63	8.62	17.78	-7.00	0.88	10.49	9.25	-0.53
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.62	0.63	0.64	0.66	0.67	0.67	0.66	0.67	0.70	0.70
Accounts Receivable Turnover	8.01	7.82	6.73	6.85	7.62	8.52	7.13	6.77	7.61	8.21	7.06
Inventory Turnover	4.07	4.15	3.90	3.96	3.94	4.15	3.90	3.96	3.94	4.26	4.08
Fixed Asset Turnover	1.07	1.07	1.09	1.11	1.14	1.16	1.16	1.15	1.15	1.18	1.21
Accounts Payable Turnover	12.62	8.62	11.03	11.64	12.90	9.51	11.66	12.19	11.62	10.10	11.39
Days Sales Outstanding (DSO)	45.55	46.66	54.27	53.32	47.92	42.84	51.21	53.92	47.94	44.45	51.73
Days Inventory Outstanding (DIO)	89.61	87.99	93.69	92.19	92.61	87.94	93.63	92.27	92.71	85.68	89.44
Days Payable Outstanding (DPO)	28.92	42.35	33.08	31.36	28.29	38.38	31.30	29.94	31.42	36.13	32.04
Cash Conversion Cycle (CCC)	106.25	92.31	114.88	114.16	112.24	92.40	113.55	116.25	109.23	93.99	109.13
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,251	2,184	2,256	2,286	2,292	2,095	2,222	2,296	2,229	2,168	2,205
Invested Capital Turnover	0.81	0.83	0.81	0.81	0.83	0.89	0.84	0.82	0.83	0.89	0.88
Increase / (Decrease) in Invested Capital	160	75	33	4.40	40	-89	-34	10	-62	73	-17
Enterprise Value (EV)	6,133	6,715	6,773	5,898	5,778	5,774	5,167	5,299	5,697	6,817	7,146
Market Capitalization	5,528	6,247	6,149	5,184	5,076	5,204	4,474	4,553	5,035	5,900	6,207
Book Value per Share	$19.49	$20.41	$19.45	$18.90	$0.00	$0.00	$18.89	$19.32	$19.69	$15.71	$16.69
Tangible Book Value per Share	$16.52	$17.42	$16.49	$15.93	$0.00	$0.00	$15.93	$16.30	$16.66	$12.70	$13.56
Total Capital	2,401	2,416	2,347	2,366	2,395	2,229	2,320	2,382	2,325	2,244	2,264
Total Debt	754	700	715	795	805	701	787	828	758	993	998
Total Long-Term Debt	754	699	715	795	805	701	787	828	758	993	998
Net Debt	605	468	624	715	702	570	693	746	662	917	939
Capital Expenditures (CapEx)	20	14	29	23	17	19	26	15	14	18	25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	415	321	415	439	430	303	416	455	411	337	402
Debt-free Net Working Capital (DFNWC)	513	548	501	514	528	428	505	532	501	408	456
Net Working Capital (NWC)	513	548	501	514	528	428	505	532	501	408	456
Net Nonoperating Expense (NNE)	5.75	52	5.11	6.36	7.69	59	6.58	5.08	7.07	10	9.89
Net Nonoperating Obligations (NNO)	605	468	624	715	702	567	690	742	662	917	939
Total Depreciation and Amortization (D&A)	32	32	31	31	31	31	30	31	31	31	31
Debt-free, Cash-free Net Working Capital to Revenue	23.56%	17.97%	23.03%	23.71%	22.79%	15.91%	22.04%	24.23%	21.90%	17.79%	20.73%
Debt-free Net Working Capital to Revenue	29.11%	30.65%	27.79%	27.79%	27.99%	22.50%	26.76%	28.34%	26.72%	21.54%	23.52%
Net Working Capital to Revenue	29.10%	30.65%	27.78%	27.78%	27.99%	22.49%	26.76%	28.34%	26.72%	21.54%	23.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.46	($0.21)	$0.44	$0.61	$0.49	$0.07	$0.36	$0.17	$0.26	$0.59	$0.49
Adjusted Weighted Average Basic Shares Outstanding	84.60M	84.60M	83.90M	82.50M	81.50M	82.30M	81.10M	80.20M	79.80M	79.50M	75.90M
Adjusted Diluted Earnings per Share	$0.45	($0.21)	$0.43	$0.60	$0.49	$0.07	$0.35	$0.17	$0.26	$0.59	$0.49
Adjusted Weighted Average Diluted Shares Outstanding	85.60M	85.50M	84.80M	83.20M	82.10M	83M	81.70M	80.60M	80.30M	80M	76.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	84.11M	84.39M	83.11M	81.75T	81.00T	81.13M	80.41M	79.56M	79.61M	75.87M	75.43M
Normalized Net Operating Profit after Tax (NOPAT)	31	33	42	56	47	6.23	35	19	28	57	47
Normalized NOPAT Margin	7.28%	7.28%	8.81%	11.26%	10.40%	1.31%	7.77%	3.79%	6.07%	11.51%	9.39%
Pre Tax Income Margin	8.53%	-6.91%	9.82%	12.73%	9.64%	0.17%	7.89%	4.45%	5.87%	10.26%	9.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.59	6.26	8.14	8.86	6.18	1.10	5.62	3.40	3.91	5.34	4.86
NOPAT to Interest Expense	5.70	4.38	6.40	6.96	5.59	7.97	4.55	2.04	3.01	4.87	3.99
EBIT Less CapEx to Interest Expense	3.08	4.45	3.72	6.04	4.20	-1.20	2.27	1.71	2.42	3.78	2.72
NOPAT Less CapEx to Interest Expense	3.19	2.57	1.99	4.13	3.61	5.67	1.20	0.36	1.52	3.30	1.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	24.92%	39.92%	44.52%	43.08%	44.13%	37.32%	40.56%	58.86%	77.18%	49.27%	45.71%
Augmented Payout Ratio	43.63%	68.40%	175.98%	43.08%	277.43%	228.24%	202.73%	230.80%	223.84%	464.53%	388.87%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, investor-friendly trend snapshot for Hexcel (NYSE: HXL) based on the quarterly statements provided for the last four years. The focus is on identifying meaningful directional changes in revenue, profitability, cash flow, and the balance sheet that may impact the stock's earnings power and capital allocation picture going forward.

Revenue momentum improved in 2025, with Q4 2025 operating revenue at 491.3 million, up from 473.8 million in Q4 2024 (approximately +3.7% year over year).
Q4 2025 net income from continuing operations reached 46.4 million, yielding a diluted earnings per share of 0.59, marking a strong quarterly profitability level within 2025.
Operating cash flow from continuing activities in Q4 2025 was robust at 125.5 million; after roughly 18.2 million in capex, estimated free cash flow for the quarter was about 107 million, underscoring solid cash generation.
Gross profit in Q4 2025 was 121.0 million on 491.3 million of revenue, delivering a gross margin around 24.6%, consistent with mid-20s margins observed in the period.
The company maintained a steady dividend policy, with cash dividends per share at 0.17, reflecting ongoing shareholder returns.
Capital allocation in 2025 shows routine reinvestment and steady capex activity (about 18–29 million per quarter), indicating ongoing maintenance and capacity upkeep without unusually intense expenditure.
Balance-sheet liquidity has remained solid, with cash levels generally in the 70–100 million range across 2025 quarters and no significant reliance on short-term debt in several periods.
Long-term debt has been fairly stable, typically in the 758–827 million range across 2024–2025, suggesting a conservative and manageable leverage profile rather than aggressive borrowing.
Net change in cash for Q4 2025 was negative, about -19.5 million, despite positive operating cash flow, reflecting financing/investing outflows during the quarter.
In Q4 2025, a sizable stock repurchase (353.4 million) contributed to a net financing outflow (-126.8 million) even as debt issuance of 320 million occurred, indicating a dominant equity-based cash outlay relative to new financing in that quarter.

05/20/26 02:08 AM ETAI Generated. May Contain Errors.

Hexcel Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Hexcel's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Hexcel's net income appears to be on a downward trend, with a most recent value of $109.40 million in 2025, falling from $237.20 million in 2015. The previous period was $132.10 million in 2024. See where experts think Hexcel is headed by visiting Hexcel's forecast page.

Hexcel's total operating income in 2025 was $171.60 million, based on the following breakdown:

Total Gross Profit: $434.80 million
Total Operating Expenses: $263.20 million

Over the last 10 years, Hexcel's total revenue changed from $1.86 billion in 2015 to $1.89 billion in 2025, a change of 1.8%.

Hexcel's total liabilities were at $1.45 billion at the end of 2025, a 21.3% increase from 2024, and a 44.2% increase since 2015.

In the past 10 years, Hexcel's cash and equivalents has ranged from $32.70 million in 2018 to $227 million in 2023, and is currently $71 million as of their latest financial filing in 2025.

Over the last 10 years, Hexcel's book value per share changed from 12.48 in 2015 to 15.71 in 2025, a change of 25.8%.

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Financial statements for NYSE:HXL last updated on 4/23/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Hexcel (HXL) Financials

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Hexcel (HXL) Financials

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Hexcel Financials - Frequently Asked Questions

When does Hexcel's financial year end?

How has Hexcel's net income changed over the last 10 years?

What is Hexcel's operating income?

How has Hexcel's revenue changed over the last 10 years?

How much debt does Hexcel have?

How much cash does Hexcel have?

How has Hexcel's book value per share changed over the last 10 years?

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