Hexcel Corporation (HXL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-38.7%

$49.24

vs $80.37 price

Levered DCF

$33.69

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

5.09

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	53.55×	38.94×	59×	39.23×	272.63×	127.61×	20.31×	18.2×
P/B	4.7×	3.38×	3.63×	3.2×	2.93×	2.69×	4.3×	3.81×
P/S	3.1×	2.71×	3.49×	3.15×	3.29×	2.7×	2.64×	2.3×
EV / EBITDA	23.04×	16×	25.11×	18.03×	25.48×	31.91×	12.85×	12.07×
Gross margin	23.0%	24.7%	24.2%	22.6%	18.9%	16.0%	27.2%	26.5%
Operating margin	9.1%	9.8%	12.0%	11.1%	3.9%	0.9%	18.0%	17.0%
Net margin	5.8%	6.9%	5.9%	8.0%	1.2%	2.1%	13.0%	12.6%
Current ratio	2.26×	2.21×	2.74×	2.23×	2.49×	2.93×	2.19×	2.07×
Debt / equity	0.79×	0.48×	0.42×	0.5×	0.55×	0.65×	0.78×	0.72×
Interest coverage	4.55×	5.96×	6.33×	4.84×	1.35×	0.34×	9.35×	9.85×
Dividend yield	0.9%	1.0%	0.7%	0.7%	0.0%	0.3%	0.9%	1.0%
Payout ratio	49.3%	37.3%	39.9%	26.7%	0.0%	44.8%	17.7%	17.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.7%	8.6%	6.2%	8.1%	1.1%	2.1%	21.2%	20.9%
Return on invested capital	5.8%	6.7%	7.4%	5.6%	1.5%	-0.6%	12.0%	12.0%
Return on assets	4.0%	4.8%	3.6%	4.5%	0.6%	1.1%	9.8%	9.8%
Free cash flow yield	5.2%	3.9%	2.4%	1.9%	2.8%	5.3%	4.6%	4.7%
Earnings yield	1.9%	2.6%	1.7%	2.5%	0.4%	0.8%	4.9%	5.5%
Enterprise value	$6.8B	$5.8B	$6.7B	$5.6B	$5.1B	$4.9B	$7.3B	$6B
Net debt / EBITDA	3.13×	1.67×	1.87×	2.12×	3.51×	5.69×	1.87×	1.87×
Cash conversion cycle (days)	101	101	100	108	98	82	81	83