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Hexcel HXL Composite Materials — Research And Development Expense

Other segment segments

Engineered Products
$1.5M+36.4%
Corporate Reconciling Items And Eliminations
$100K-88.9%

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$603M+12.9%

Other financials

Income statement

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Revenue$501.5M+9.9%
Gross profit$134.7M+31.5%
Operating income$57.6M+30.3%
Net income$37.2M+28.7%
EPS (diluted)$0.49+40.0%

Balance sheet

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Cash & equivalents$54.1M-39.3%
Total debt$998.1M+26.8%
Total equity$1.3B-17.4%
Total assets$2.7B-2.0%

Cash flow

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Operating cash flow$19.0M+167%
CapEx$25.2M-3.4%
Free cash flow-$6.2M+88.6%

Valuation

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Market cap$7.36B+39.5%
Enterprise value$8.31B+38.9%
P/E62.6×+20.2×
P/S3.8×+1.0×

Profitability

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Gross margin24.1%0.0pp
Operating margin9.5%+0.1pp
Net margin6.1%-0.5pp
FCF margin10.6%+0.9pp

Returns & leverage

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Return on equity8.4%+0.5pp
Debt / equity0.8×+0.3×
Current ratio2.5×-0.1×

Where this comes from

Reported directly by Hexcel in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Hexcel’s 10-Q, filed April 22, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Hexcel's composite materials — research and development expense?
Hexcel (HXL) reported composite materials — research and development expense of $16.2M in Q1 2026.
How has Hexcel's composite materials — research and development expense changed year-over-year?
Hexcel's composite materials — research and development expense increased by 37.3% year-over-year, from $11.8M to $16.2M.
What is the long-term trend for Hexcel's composite materials — research and development expense?
Over 3 years (2022 to 2025), Hexcel's composite materials — research and development expense has grown at a 8.6% compound annual growth rate (CAGR), from $37.9M to $48.6M.
What does composite materials — research and development expense mean?
Represents investments in the innovation, testing, and development of new composite materials and manufacturing processes. Given the highly engineered nature of the business, this metric is a critical indicator of the company's commitment to maintaining a competitive advantage in aerospace and industrial markets. It highlights the segment's focus on future product differentiation and technological leadership.