HXL on NYSE

Hexcel

Logo: Hexcel, Public domain, via Wikimedia Commons4

American materials company

Hexcel Corporation is an American public industrial materials company, based in Stamford, Connecticut. The company develops and manufactures structural materials.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

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  • TickerHXL on NYSE1
  • IndustryPlastic Materials, Synth Resins & Nonvulcan Elastomers1
  • HeadquartersStamford, United States1
  • Legal formDelaware corporation1
  • Incorporated inDE5
  • Business addressTwo Stamford Plaza, 281 Tresser Blvd., 16Th Floor, Stamford, Ct 069015
  • Filer categoryLarge accelerated filer5

Hexcel Corporation is an American public industrial materials company, based in Stamford, Connecticut. The company develops and manufactures structural materials. Hexcel was formed from the combination of California Reinforced Plastics (founded 1948), Ciba Composites (acquired 1995) and Hercules Composites Products Division (acquired 1995). The company sells its products in commercial, military and recreational markets for use in commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, sports equipment and automotive products. Hexcel works with Airbus Group, The Boeing Company, and others. Since 1980, the firm has publicly traded on the New York Stock Exchange under the ticker symbol HXL.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

23.0%Gross margin7
9.1%Operating margin7
5.8%Net margin7
-0.5%Revenue growth, 20257
8.7%Return on equity7
0.79×Debt to equity7
$157.2MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Commercial Aerospace Market Applications brought in 61% of the revenue Hexcel broke down this way in fiscal 2025.

  1. Commercial Aerospace Market Applications$1.1B761%down 4% from 2024
  2. Space And Defense Market Applications$747.0M739%up 5% from 2024
Products and services by year
Products and services202320242025
Commercial Aerospace Market Applications$1.1B$1.2B$1.1B
Space And Defense Market Applications$720.8M$708.8M$747.0M

Business segments

Composite Materials brought in 80% of the revenue Hexcel broke down this way in fiscal 2025.

  1. Composite Materials$1.5B780%down 1% from 2024
  2. Engineered Products$381.5M720%up 2% from 2024
Business segments by year
Business segments202320242025
Composite Materials$1.5B$1.5B$1.5B
Engineered Products$317.2M$373.2M$381.5M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue77¢$1.5B
  • Research and development3¢$56.4M
  • Selling, general and admin9¢$169.0M
  • Other costs2¢$36.7M
  • Interest2¢$37.7M
  • Income tax1¢$25.6M
  • Profit6¢$109.4M

Out of $1.9B in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending13¢$73.3M
  • Dividends paid9¢$53.9M
  • Share buybacks78¢$454.3M

Out of $230.5M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.7

Financial statements

Revenue8910117$1.9B in 2025−20% since 2019
0$1.0B$2.0B$3.0B2019: $2.4B$2.4B20192020: $1.5B$1.5B2020−36%2021: $1.3B$1.3B2021−12%2022: $1.6B$1.6B2022+19%2023: $1.8B$1.8B2023+13%2024: $1.9B$1.9B2024+6%2025: $1.9B$1.9B2025−0%
Gross profit8910117$434.8M in 2025−32% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $640.4M$640.4M20192020: $239.7M$239.7M2020−63%2021: $250.1M$250.1M2021+4%2022: $357.1M$357.1M2022+43%2023: $433.2M$433.2M2023+21%2024: $469.8M$469.8M2024+8%2025: $434.8M$434.8M2025−7%
Operating income8910117$171.6M in 2025−60% since 2019
0$200.0M$400.0M$600.0M2019: $425.2M$425.2M20192020: $14.1M$14.1M2020−97%2021: $51.8M$51.8M2021+267%2022: $175.2M$175.2M2022+238%2023: $215.3M$215.3M2023+23%2024: $186.1M$186.1M2024−14%2025: $171.6M$171.6M2025−8%
Net income8910117$109.4M in 2025−64% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $306.6M$306.6M20192020: $31.7M$31.7M2020−90%2021: $16.1M$16.1M2021−49%2022: $126.3M$126.3M2022+684%2023: $105.7M$105.7M2023−16%2024: $132.1M$132.1M2024+25%2025: $109.4M$109.4M2025−17%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Net sales$1.9B$1.9B$1.8B
Cost of sales$1.5B$1.4B$1.4B
Gross margin$434.8M$469.8M$433.2M
Selling, general and administrative expenses$169.0M$176.6M$163.8M
Research and technology expenses$56.4M$57.1M$52.7M
Other operating expense (income)$37.8M$50.0M$1.4M
Operating income$171.6M$186.1M$215.3M
Interest expense, net$37.7M$31.2M$34.0M
Other expense (income)-$1.1M$0$71.6M
Total income before income taxes$135.0M$154.9M$109.7M
Income tax expense$25.6M$22.8M$12.1M
Income before equity in earnings$109.4M$132.1M$97.6M
Equity in earnings from affiliated companies$0$0$8.1M
Net income$109.4M$132.1M$105.7M
Basic net income per common share:$1$2$1
Diluted net income per common share:$1$2$1
Basic79.5M shares82.3M shares84.6M shares
Diluted80.0M shares83.0M shares85.5M shares

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The story

1948–1970s

Hexcel, originally named the California Reinforced Plastics Company, was founded in 1948 by a group of engineers from the University of California at Berkeley. The company's first contract was for the research and development of honeycomb materials for use in radar domes on military aircraft. In 1954, the company changed its name to Hexcel Products, Inc. The name was derived from the hexagonal cell-shaped honeycomb materials manufactured by the company.

In the 1960s, Hexcel sold aluminum honeycomb and pre-impregnated fiberglass to Hubert A. Zemke and Dave McCoy for use in building skis.

Hexcel expanded from military and commercial aviation to the United States space program. The landing pads on the lunar module Apollo 11 that carried men to the moon in 1969 were built from Hexcel honeycomb materials.

In 1970, Hexcel licensed the ski from McCoy. A few years later, Hexcel decided to focus on its core aerospace business and sold the ski enterprise to the ski boot maker Hanson Industries.

1980s–2000

In the 1980s, Hexcel purchased Stevens-Genin S.A., a French company that manufactured glass-fiber and woven industrial materials.

In 1981, it provided materials for the nose, doors and wings of the Space Shuttle Columbia. In 1986, Hexcel made most of the material used in the fuselage and wings of the Rutan Voyager – the first aircraft to make a nonstop, around-the-world trip on a single tank of fuel.

2000–2024

In 2017, Hexcel was selected by Airbus to supply the composite materials for the H160 helicopter's fuselage structures and rotor blades. Hexcel acquired the aerospace and defense business of Oxford Performance Materials, a manufacturer of carbon fiber-reinforced 3D printed PEKK parts for commercial aerospace and space and defense applications.

In March 2018, Hexcel opened its manufacturing facility at the Midparc Free Trade Zone in Casablanca, Morocco. The facility oversees the transformation of lightweight honeycomb materials into engineered core parts for aircraft structures, engine nacelles and helicopter blades. Hexcel also signed a strategic alliance with Arkema in Colombes, France, to combine work in carbon fiber and PEKK. The alliance will result in a joint research and development laboratory in France. The companies aim to develop carbon fiber-reinforced thermoplastic tapes to produce lightweight parts for aircraft.

Read the full text

Also in 2018, Hexcel opened a carbon fiber plant at the Les Roches-Roussillon Chemicals Industry Platform in Isère, France. The plant is based at the Osiris Chemicals Industry Platform. Hexcel's composite materials were used as part of a new boat design used in the Tour de France à la voile.

In July 2018, Hexcel opened an integrated factory in Salaise-sur-Sanne near Lyon, manufacturing polyacrylonitrile (PAN), the carbon fiber precursor, the second after its Decatur, Alabama plant.

In December 2018, Hexcel announced the hiring of Colleen Pritchett as President - Aerospace, in America.

On May 1st, 2024, Tom Gentile was named CEO following Nick Stanage’s retirement.

From Wikipedia’s article on Hexcel, shared under CC BY-SA 4.0.6

Leadership

Who has led Hexcel, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (41)

Products and brands

  • composite material

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

1996 – Ciba Composites

1996 – Hercules Composites Products Division

1997 – Fiberite satellite prepreg business

2017 – Oxford Performance Materials Aerospace & Defense Business

Read the full text

2017 – Structil SA

2018 - ARC Technologies

From Wikipedia’s article on Hexcel, shared under CC BY-SA 4.0.6

Timeline

  1. Jan 24, 2014New chief executive Nick L. Stanage becomes CEO15
  2. Jan 10, 2006New chief executive David E. Berges becomes CEO16
  3. Mar 2, 1983Founded Hexcel is founded71

Filings

402 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 260 insider forms, 32 large holders, 42 other. The latest 20:

  1. Oct 5, 20264 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Sep 8, 20264 EDGAR
  4. Sep 3, 2026144 EDGAR
  5. Aug 17, 20264 EDGAR
  6. Aug 14, 2026144 EDGAR
  7. Aug 14, 2026SCHEDULE 13G/A EDGAR
  8. Aug 4, 20264 EDGAR
  9. Jul 30, 20264 EDGAR
  10. Jul 29, 202610-Q EDGAR
  11. Jul 29, 20268-K EDGAR
  12. Jul 28, 20264 EDGAR
  13. Jul 24, 20264 EDGAR
  14. Jul 17, 2026SCHEDULE 13G/A EDGAR
  15. Jul 15, 20264 EDGAR
  16. Jul 13, 20264 EDGAR
  17. Jul 13, 20264 EDGAR
  18. May 29, 2026SD EDGAR
  19. May 28, 20268-K EDGAR
  20. May 19, 20264 EDGAR

The 402 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 32 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Jul 17, 2026SCHEDULE 13G/A
  3. May 18, 2026SCHEDULE 13G/A
  4. May 12, 2026SCHEDULE 13G
  5. Apr 30, 2026SCHEDULE 13G
  6. Apr 30, 2026SCHEDULE 13G
  7. Mar 27, 2026SCHEDULE 13G/A
  8. Feb 17, 2026SCHEDULE 13G/A
  9. Nov 14, 2025SCHEDULE 13G
  10. Nov 14, 2025SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.14,218,892$1.4B0.0%+1,342,438
Earnest Partners LLC4,584,594$458.7M1.7%−120,150
State Street Corp4,373,328$437.6M0.0%−393,620
Vanguard Capital Management LLC3,402,558$340.5M0.0%+4,484
Vanguard Portfolio Management LLC3,143,027$314.5M0.0%+12,316
Massachusetts Financial Services Co /ma/2,471,596$247.3M0.1%+71,477
Bank Of America Corp /de/2,168,182$216.9M0.0%−96,245
Brandes Investment Partners, LP2,134,549$213.6M1.5%−99,776
Geode Capital Management, LLC1,710,646$171.2M0.0%+223,895
UBS Group AG1,693,254$169.4M0.0%−184,796
Dimensional Fund Advisors LP1,507,778$150.9M0.0%−43,002
American Century Companies Inc1,366,162$136.7M0.1%−449,118
Sei Investments Co1,310,027$131.1M0.1%−16,209
Jennison Associates LLC1,193,356$119.4M0.1%+9,040
Morgan Stanley1,188,494$118.9M0.0%−55,403
Northern Trust Corp988,819$98.9M0.0%+196
Alliancebernstein L.P.1,207,813$97.7M0.0%−2,194,596
Charles Schwab Investment Management Inc940,514$94.1M0.0%−49,637
Channing Capital Management, LLC930,063$93.1M2.1%−12,343
Copeland Capital Management, LLC877,777$87.8M1.8%−43,182
Loomis Sayles & Co L P820,224$82.1M0.1%+14,711
Vaughan Nelson Investment Management, L.P.819,193$82.0M0.7%+238,913
Schroder Investment Management Group821,544$81.2M0.1%−272,075
BNP PARIBAS ASSET MANAGEMENT Holding S.A.765,284$76.6M0.1%+86,067
Invesco Ltd.756,917$75.7M0.0%+13,913

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

13 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 24, 2024Jonathan L. JacksonDemocratic, HouseSale$15,001 - $50,000+10.6%Report
Feb 16, 2024Jonathan L. JacksonDemocratic, HouseBuy$15,001 - $50,000−33.0%Report
Feb 10, 2022Lois FrankelDemocratic, HouseSale$1,001 - $15,000+7.5%Report
Apr 9, 2021Sara JacobsDemocratic, HouseSale$15,001 - $50,000+29.2%Report
Feb 25, 2021Lois FrankelDemocratic, HouseBuy$1,001 - $15,000−36.0%Report
Dec 3, 2020Lois FrankelDemocratic, HouseBuy$1,001 - $15,000−50.0%Report
Oct 29, 2020Lois FrankelDemocratic, HouseSale$1,001 - $15,000−39.7%Report
Oct 27, 2020Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000−45.9%Report
Aug 5, 2020Susie LeeDemocratic, HouseSale$1,001 - $15,000+8.4%Report
Jun 9, 2020Lois FrankelDemocratic, HouseBuy$1,001 - $15,000−38.8%Report
Jun 5, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000−51.0%Report
Apr 6, 2020Susie LeeDemocratic, HouseSale$1,001 - $15,000+4.2%Report
Nov 11, 2019Susie LeeDemocratic, HouseBuy$1,001 - $15,000−134.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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