HEXCEL CORP /DE/
$79.46
−0.45 (−0.56%) · delayed · Nov 13, 2026
Five-year price
52w $68.07 to $111.74
- Market cap
- $6.0B
- Enterprise value
- $6.9B
- P/E
- 55.0×
- EV / EBIT
- 40.4×
- FCF yield
- 2.6%
- ROIC
- 6.4%
- Debt / equity
- 0.79
- Piotroski F
- 6/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
67
- ○ROIC > 12% (5y avg)5y avg ROIC 6.2%
- ○ROE > 15% (5y avg)5y avg ROE 6.6%
- ●Stable operating marginsMargin volatility 2.8% (σ, 5y)
- ●Earnings convert to cashFCF / net income 257% (5y avg)
- ●Growing revenueRevenue CAGR 5y 4.7%
- ●Shrinking share countDiluted shares -4.8% over 5y
Value
0
- ○P/E below 15P/E 55.0
- ○EV/EBIT below 12EV/EBIT 40.4
- ○FCF yield above 6%FCF yield 2.6%
- ○Price below Graham NumberGraham Number $23.18
- ○P/B below 3P/B 4.8
Safety
40
- ○Debt / equity below 0.5D/E 0.79
- ○Debt payable in < 4 yrs of earningsNet debt $0.9B
- ○Interest coverage > 8xCoverage 4.6x
- ●Current ratio > 1.5Current ratio 2.26
- ●Piotroski F-score ≥ 6F-score 6/9
Graham Defensive
50
- ○Adequate size (revenue > $2B)Revenue $1.9B
- ●Strong condition (current ratio ≥ 2)Current ratio 2.26
- ●Earnings stability (no loss, 10y)10 years of data
- ○Uninterrupted dividendsDividends paid every year on record
- –Earnings growth ≥ 33% (10y, 3y avgs)n/a
- –Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) n/a
- –P/E × P/B ≤ 22.5Product n/a
Valuation lab
What do you have to believe?
At $79.46, the market is pricing in about 16.1% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $922M · 76M shares · 5y revenue CAGR 4.7%
Intrinsic value
$27.36
Price
$79.46
Premium paid
190%
What the price implies
The market is paying for 16.1% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
57% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2,004 | 1,973 | 2,189 | 2,356 | 1,502 | 1,325 | 1,578 | 1,789 | 1,903 | 1,894 |
| Gross profit | 565 | 552 | 581 | 640 | 240 | 250 | 357 | 433 | 470 | 435 |
| Operating income | 360 | 351 | 371 | 425 | 14 | 52 | 175 | 215 | 186 | 172 |
| Operating margin | 18.0% | 17.8% | 17.0% | 18.0% | 0.9% | 3.9% | 11.1% | 12.0% | 9.8% | 9.1% |
| Pre-tax income | 338 | 323 | 334 | 380 | (28) | 22 | 150 | 110 | 155 | 135 |
| Income tax | 90 | 43 | 63 | 77 | (61) | 6 | 32 | 12 | 23 | 26 |
| Net income | 250 | 284 | 277 | 307 | 32 | 16 | 126 | 106 | 132 | 109 |
| EPS (diluted) | — | — | — | — | — | — | — | — | — | — |
| Diluted shares | 94 | 92 | 89 | 86 | 84 | 85 | 85 | 86 | 83 | 80 |
Who owns it