HXL
HEXCEL CORP /DE/
Materials • CIK: 0000717605
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Market Cap
$5.87B
P/E (TTM)
53.7x
Rev Growth (TTM)
-0.5%
Net Margin (TTM)
5.8%
FCF Yield (TTM)
2.7%
FCF Margin (TTM)
8.3%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$157M
Q4 '25
$107M+11%
Q3 '25
$97M+1106%
FCF Margin
TTM8.3%
Q4 '2521.8%+3%
Sector: 0.8%Above Avg
OCF Margin12.2%
OCF/NI2.11x
CapEx Coverage3.1x
FCF Yield2.7%
FCF Growth (2Y)+18%
Cash Conversion Cycle
108 days
DSO: 48+DIO: 91−DPO: 31
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM8.7%
Div Yield0.9%
+Buyback (TTM)7.7%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)0.9%
FCF Payout Ratio34.3%
Free Cash Flow (TTM)$157.2M
Stock Repurchases (TTM)$454.3M
Capital Return / FCF323.3%
Est. Dividends Paid (TTM)$53.9M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
5.9%
Stable
-0.0% YoY-1.8%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
7.3%
8Q: 9.6%
Asset Turnover
0.68x
8Q: 0.67x
Leverage (1+D/E)
1.79x
D/E: 0.79x
DuPont: 9.0% ≈ 5.9% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
1.17x
8Q:1.15x
+4.0%
Invested Cap Turn
0.81x
8Q:0.80x
+3.6%
CapEx Intensity
3.1%
8Q:3.1%
CapEx/Depreciation
0.61x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $1.9B | $491.3M↑7.7% | $456.2M↓6.9% | $489.9M↑7.3% | $456.5M↓3.7% | $473.8M↑3.8% | $456.5M↓8.8% | $500.4M↑5.9% | $472.3M |
Operating Income | $171.6M | $61.4M↑70.6% | $36.0M↑20.0% | $30.0M↓32.1% | $44.2M↑396.6% | $8.9M↓83.0% | $52.5M↓26.9% | $71.8M↑35.7% | $52.9M |
Net Income | $109.4M | $46.4M↑125.2% | $20.6M↑52.6% | $13.5M↓53.3% | $28.9M↑398.3% | $5.8M↓85.4% | $39.8M↓20.4% | $50.0M↑37.0% | $36.5M |
Operating Cash Flow | $230.5M | $125.5M↑13.9% | $110.2M↑373.0% | $23.3M↑181.8% | $-28.5M↓117.5% | $162.6M↑80.5% | $90.1M↑103.8% | $44.2M↑731.4% | $-7.0M |
Free Cash Flow | $157.2M | $107.3M↑11.2% | $96.5M↑1106.3% | $8.0M↑114.7% | $-54.6M↓137.9% | $144.0M↑96.5% | $73.3M↑244.1% | $21.3M↑159.7% | $-35.7M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
53.7x
Volatile
8Q: 160.6x+2368%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
53.7x
vs – sector
Cash Flow
41.9x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
9.1P/E per %ROIC
ROIC: 5.9%
Shareholder Returns
Dividend
0.9%
Buyback
7.7%
Total Yield
8.7%
Market Cap$5.87B
EV$6.59B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
69/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Below Avg
7.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
5.9%
8Q:–
Flat
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 7.3%
Asset Turnover: 0.68x
Earnings Quality
Cash Conversion
2.11x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin23.0%
Capital Efficiency
Invested Capital Turnover0.81x
Working Capital
Cash Conversion Cycle108 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
58/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-0.5%
OpInc Growth YoY
589.9%
EPS Growth YoY
-14.0%
FCF 3Y CAGR
17.5%
Growth Quality Analysis
✓Efficient Growth: Free cash flow growing faster than revenue
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
23.0%
Operating
9.1%
Above Avg in sector
Net
5.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+2.5 pts
FCF: 8.3% | Net: 5.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $922.00M
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.79x
Balance sheet risk & solvency analysis