HEXCEL CORP /DE/
HXL · Plastic Materials, Synth Resins & Nonvulcan Elastomers · 75.4M shares · -0%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $9M (gross $30M, SBC $21M)
Reference price $92.80 · est. market cap ~$7.0B — last insider sale, 2026-02-27 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76Quality advanced-composites supplier with qualified-position moat and top-decile sector-relative returns, but flat sales and cyclical aerospace concentration.
Strengths
- Sector top-decile ROA (90.9th pct), net margin (88.9th) and ROE (81.8th); healthy interest coverage 4.6x and FCF of $157M
- Designed-in carbon-fiber/prepreg positions on Airbus/Boeing and defense platforms create high switching costs
Risks
- Revenue down 0.5% and net income down 17% amid build-rate delays; gross margin compressed on mix, tariffs and inventory actions
- Heavy customer concentration (~52% Airbus+Boeing) and commercial-aerospace cyclicality
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~61% of revenue from one customer/distributor — Approximately 61% of our sales for 2025 were derived from sales to the Commercial Aerospace industry
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
23.0%
Operating margin
9.1%
Net margin
5.8%
Return on equity
8.7%
Return on assets
4.0%
ROIC
6.0%
Revenue growth (QoQ)
2.1%
Net-income growth
-17.2%
Debt / equity
0.8×
Net debt / EBITDA
3.1×
Interest coverage
4.6×
Current ratio
2.3×
Free cash flow
$157M
EBITDA
$294M
Tangible book value
$1.0B
Cash & investments
$71M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-13 | KEATING NEAL J. | Option exercise | 254 | — |
| 2026-05-08 | Stanage Nick L | Option exercise | 2.7K | — |
| 2026-05-08 | Li David H | Option exercise | 2.7K | — |
| 2026-05-08 | Suever Catherine A | Option exercise | 2.7K | — |
| 2026-05-06 | Stanage Nick L | Tax withheld | 42K | $95.85 |
| 2026-05-06 | Stanage Nick L | Option exercise | 50K | $68.15 |
| 2026-05-01 | Gentile Tom | Option exercise | 5.2K | — |
| 2026-05-01 | Gentile Tom | Tax withheld | 2.4K | $92.23 |
| 2026-04-04 | Li David H | Option exercise | 457 | — |
| 2026-03-05 | Fitzsimons Gina | Tax withheld | 4.6K | $91.14 |
| 2026-03-05 | Fitzsimons Gina | Option exercise | 6.5K | $38.94 |
| 2026-02-27 | Evans Amy S | Sell | 1.5K | $92.80 |
| 2026-02-12 | Stanage Nick L | Option exercise | 61K | $50.50 |
| 2026-02-12 | Stanage Nick L | Tax withheld | 46K | $90.69 |
| 2026-01-30 | Lehman Gail E | Tax withheld | 1.1K | $82.81 |
| 2026-01-30 | Fitzsimons Gina | Tax withheld | 222 | $82.81 |
| 2026-01-30 | Fitzsimons Gina | Option exercise | 472 | — |
| 2026-01-30 | Lehman Gail E | Option exercise | 968 | — |
| 2026-01-30 | Lehman Gail E | Tax withheld | 401 | $82.81 |
| 2026-01-30 | Evans Amy S | Tax withheld | 140 | $82.81 |
| 2026-01-30 | Smith Lyndon John | Tax withheld | 263 | $82.81 |
| 2026-01-30 | Stanage Nick L | Tax withheld | 9.1K | $82.81 |
| 2026-01-30 | Lehman Gail E | Tax withheld | 1.1K | $82.81 |
| 2026-01-30 | Fitzsimons Gina | Tax withheld | 633 | $82.81 |
| 2026-01-30 | Lehman Gail E | Option exercise | 968 | — |
| 2026-01-30 | Evans Amy S | Tax withheld | 108 | $82.81 |
| 2026-01-30 | Smith Lyndon John | Option exercise | 214 | — |
| 2026-01-30 | Smith Lyndon John | Tax withheld | 101 | $82.81 |
| 2026-01-30 | Evans Amy S | Option exercise | 267 | — |
| 2026-01-30 | Merlot Thierry | Option exercise | 698 | — |
| 2026-01-30 | Lehman Gail E | Tax withheld | 401 | $82.81 |
| 2026-01-29 | Fitzsimons Gina | Tax withheld | 298 | $84.56 |
| 2026-01-29 | Lehman Gail E | Option exercise | 1.0K | — |
| 2026-01-29 | Lehman Gail E | Tax withheld | 484 | $84.56 |
| 2026-01-29 | Smith Lyndon John | Option exercise | 384 | — |
| 2026-01-29 | Smith Lyndon John | Tax withheld | 182 | $84.56 |
| 2026-01-29 | Merlot Thierry | Option exercise | 1.6K | — |
| 2026-01-29 | Evans Amy S | Option exercise | 316 | — |
| 2026-01-29 | Evans Amy S | Tax withheld | 127 | $84.56 |
| 2026-01-29 | Fitzsimons Gina | Option exercise | 563 | — |
| 2026-01-29 | Lehman Gail E | Option exercise | 1.0K | — |
| 2026-01-29 | Lehman Gail E | Tax withheld | 488 | $84.56 |
| 2026-01-27 | Fitzsimons Gina | Option exercise | 614 | — |
| 2026-01-27 | Fitzsimons Gina | Tax withheld | 278 | $81.57 |
| 2026-01-27 | Evans Amy S | Option exercise | 324 | — |
| 2026-01-27 | Evans Amy S | Tax withheld | 131 | $81.57 |
| 2026-01-27 | Lehman Gail E | Option exercise | 1.1K | — |
| 2026-01-27 | Lehman Gail E | Tax withheld | 446 | $81.57 |
| 2026-01-27 | Smith Lyndon John | Option exercise | 369 | — |
| 2026-01-27 | Smith Lyndon John | Tax withheld | 146 | $81.57 |
| 2026-01-21 | Fitzsimons Gina | Grant | 1.2K | — |
| 2026-01-21 | Lehman Gail E | Grant | 2.5K | — |
| 2026-01-21 | Merlot Thierry | Grant | 1.8K | — |
| 2026-01-21 | Stanage Nick L | Grant | 20K | — |
| 2026-01-21 | Evans Amy S | Grant | 347 | — |
| 2026-01-21 | Smith Lyndon John | Grant | 557 | — |
| 2026-01-10 | Li David H | Option exercise | 341 | — |
| 2026-01-08 | Stanage Nick L | Tax withheld | 47K | $78.80 |
| 2026-01-08 | Stanage Nick L | Option exercise | 65K | $41.71 |
| 2025-10-29 | Winterlich Patrick | Sell | 3.4K | $73.34 |
| 2025-10-29 | Winterlich Patrick | Option exercise | 3.4K | $41.71 |
| 2025-10-27 | Smith Lyndon John | Option exercise | 2.1K | $41.71 |
| 2025-10-27 | Smith Lyndon John | Sell | 2.1K | $73.02 |
| 2025-10-24 | Merlot Thierry | Option exercise | 2.5K | — |
| 2025-09-02 | Fitzsimons Gina | Sell | 911 | $65.00 |
| 2025-08-28 | Merlot Thierry | Sell | 3.5K | $63.86 |
| 2025-08-28 | Merlot Thierry | Option exercise | 5.4K | $41.71 |
| 2025-08-28 | Merlot Thierry | Sell | 5.4K | $63.86 |
| 2025-07-25 | Smith Lyndon John | Option exercise | 1.7K | — |
| 2025-07-25 | Smith Lyndon John | Tax withheld | 698 | — |
| 2025-05-07 | Li David H | Option exercise | 744 | — |
| 2025-05-02 | Suever Catherine A | Option exercise | 2.1K | — |
| 2025-05-01 | Gentile Tom | Option exercise | 5.2K | $48.53 |
| 2025-05-01 | Gentile Tom | Tax withheld | 2.4K | $48.53 |
| 2025-01-31 | Stanage Nick L | Tax withheld | 19K | $65.20 |
| 2025-01-31 | Evans Amy S | Tax withheld | 406 | $65.20 |
| 2025-01-31 | Evans Amy S | Option exercise | 233 | — |
| 2025-01-31 | Evans Amy S | Tax withheld | 110 | $65.20 |
| 2025-01-31 | Lehman Gail E | Tax withheld | 1.8K | $65.20 |
| 2025-01-31 | Lehman Gail E | Option exercise | 1.2K | — |
| 2025-01-31 | Lehman Gail E | Tax withheld | 495 | $65.20 |
| 2025-01-31 | Fitzsimons Gina | Tax withheld | 1.0K | $65.20 |
| 2025-01-31 | Fitzsimons Gina | Option exercise | 561 | — |
| 2025-01-31 | Fitzsimons Gina | Tax withheld | 264 | $65.20 |
| 2025-01-31 | Winterlich Patrick | Tax withheld | 2.9K | $65.20 |
| 2025-01-31 | Winterlich Patrick | Option exercise | 1.7K | — |
| 2025-01-31 | Winterlich Patrick | Tax withheld | 788 | $65.20 |
| 2025-01-31 | Merlot Thierry | Option exercise | 968 | — |
| 2025-01-30 | Fitzsimons Gina | Option exercise | 473 | — |
| 2025-01-30 | Merlot Thierry | Option exercise | 1.4K | — |
| 2025-01-30 | Chevrier Philippe | Option exercise | 599 | — |
| 2025-01-30 | Chevrier Philippe | Tax withheld | 205 | $66.10 |
| 2025-01-30 | Fitzsimons Gina | Tax withheld | 250 | $66.10 |
| 2025-01-30 | Lehman Gail E | Option exercise | 968 | — |
| 2025-01-30 | Lehman Gail E | Tax withheld | 457 | $66.10 |
| 2025-01-30 | Evans Amy S | Option exercise | 267 | — |
| 2025-01-30 | Evans Amy S | Tax withheld | 126 | $66.10 |
| 2025-01-30 | Winterlich Patrick | Option exercise | 1.4K | — |
| 2025-01-30 | Winterlich Patrick | Tax withheld | 640 | $66.10 |
| 2025-01-29 | Lehman Gail E | Tax withheld | 487 | $65.70 |
| 2025-01-29 | Evans Amy S | Tax withheld | 149 | $65.70 |
| 2025-01-29 | Winterlich Patrick | Option exercise | 1.5K | — |
| 2025-01-29 | Winterlich Patrick | Tax withheld | 739 | $65.70 |
| 2025-01-29 | Chevrier Philippe | Tax withheld | 243 | $65.70 |
| 2025-01-29 | Fitzsimons Gina | Option exercise | 563 | — |
| 2025-01-29 | Fitzsimons Gina | Tax withheld | 298 | $65.70 |
| 2025-01-29 | Chevrier Philippe | Option exercise | 708 | — |
| 2025-01-29 | Lehman Gail E | Option exercise | 1.0K | — |
| 2025-01-29 | Evans Amy S | Option exercise | 316 | — |
| 2025-01-27 | Winterlich Patrick | Tax withheld | 2.8K | $67.13 |
| 2025-01-27 | Winterlich Patrick | Option exercise | 3.3K | $43.96 |
| 2025-01-15 | Merlot Thierry | Grant | 3.6K | — |
| 2025-01-15 | Fitzsimons Gina | Grant | 2.1K | — |
| 2025-01-15 | Lehman Gail E | Grant | 4.4K | — |
| 2025-01-15 | Evans Amy S | Grant | 861 | — |
| 2025-01-15 | Winterlich Patrick | Grant | 6.3K | — |
| 2025-01-15 | Stanage Nick L | Grant | 45K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
- Airbus 39% of rev
- Boeing 13% of rev
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-28 | 1.02 | filing ↗ |
| 2026-05-15 | Exec/director changeShareholder voteOtherExhibits | filing ↗ |
| 2026-04-30 | OtherExhibits | filing ↗ |
| 2026-04-22 | ResultsReg FDOtherExhibits | filing ↗ |
| 2026-04-01 | Material agreement1.02Debt obligationExhibits | filing ↗ |
| 2026-03-13 | Exec/director changeExhibits | filing ↗ |
| 2026-03-04 | Material agreementExec/director changeExhibits | filing ↗ |
| 2026-01-28 | ResultsReg FDOtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-28 | 2026-05-28 | 0001140361-26-023151 ↗ |
| 8-K | 2026-05-15 | 2026-05-14 | 0001140361-26-021511 ↗ |
| 8-K | 2026-04-30 | 2026-04-27 | 0001140361-26-018290 ↗ |
| 10-Q | 2026-04-22 | 2026-03-31 | 0001193125-26-170597 ↗ |
| 8-K | 2026-04-22 | 2026-04-22 | 0001193125-26-170559 ↗ |
| 8-K | 2026-04-01 | 2026-03-31 | 0001140361-26-012536 ↗ |
| 8-K | 2026-03-13 | 2026-03-10 | 0000930413-26-000764 ↗ |
| 8-K | 2026-03-04 | 2026-03-03 | 0001140361-26-007728 ↗ |
| 10-K | 2026-02-11 | 2025-12-31 | 0001193125-26-046377 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0001193125-26-027293 ↗ |
| 8-K | 2025-11-17 | 2025-11-17 | 0000930413-25-003469 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0000930413-25-003404 ↗ |