HXL HEXCEL CORP /DE/

Overview and Growth

In fiscal 2025, HEXCEL CORP /DE/ recorded $1.89B of revenue, net income of $109.40M, and an operating cash inflow of $230.50M. At $1.89B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 0.5% below fiscal 2024 revenue of $1.90B, marking a top-line contraction. At period end, total assets were $2.70B, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.7x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $434.80M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 23.0% of revenue, showing how much of the top line remained after direct costs. Operations produced $171.60M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 9.1% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $109.40M for the fiscal year. The final earnings result represented 5.8% of revenue, connecting the absolute net income figure with the company’s top-line scale. Income tax expense totaled $25.60M, providing the reported tax component that separates pretax and after-tax earnings. The relationship between net income and period-end equity was 8.7%, indicating the profitability achieved on book capital. Return on period-end assets was 4.0%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $2.70B of assets against $1.45B of liabilities and $1.25B of equity, revealing how the asset base was financed. At period end, current assets of $730.70M compared with current liabilities of $322.70M, defining the company’s short-term resource position. Current assets covered current liabilities by 2.26x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $71.00M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 22.0% of current liabilities, showing how much near-term coverage came from cash alone. Total debt was $993.00M, establishing the amount of borrowing carried within the company’s capital structure. The debt-to-equity relationship was 0.79x, showing how much debt the company carried for each unit of book equity. The debt-to-assets relationship was 36.7%, comparing borrowing with the total asset balance. Relative to total assets, liabilities measured 53.7%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 2.6% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 0.8% lower than fiscal 2024 assets of $2.73B, measuring the company’s own balance-sheet change. Book equity was 18.1% lower than fiscal 2024 equity of $1.53B, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $230.50M, a reported cash inflow that can be compared directly with net income and capital spending. Operating cash flow equaled 2.11x of net income, showing how strongly accounting earnings converted into cash from operations. The cash-flow statement records $73.30M of capital expenditures, the investment amount considered after operating cash generation. Relative to operating cash flow, capital expenditures measured 31.8%, connecting investment intensity with the company’s cash-generation base. The combination of operating cash flow and capital spending produced $157.20M of positive free cash flow for the period. Relative to revenue, free cash flow equaled 8.3%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 5.8%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.