What is Hexcel's net debt?

Hexcel (HXL) reported net debt of $944M in Q1 2026.

How has Hexcel's net debt changed year-over-year?

Hexcel's net debt increased by 35.2% year-over-year, from $698.1M to $944M.

What is the long-term trend for Hexcel's net debt?

Over 5 years (2020 to 2025), Hexcel's net debt has grown at a 1.4% compound annual growth rate (CAGR), from $883.8M to $947.7M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Hexcel HXL Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cleveland-CliffsCLF

40×—

Armstrong World IndustriesAWI

0.9×-0.1×

LAD

Lithia MotorsLAD

0.4×0.0×

Albertsons CompaniesACI

4.1×+0.4×

Karman Holdings Inc.KRMN

5.9×+2.7×

Pilgrim's Pride CorporationPPC

1.5×+0.9×

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

See full

Return on equity8.4%+0.5pp

Debt / equity0.8×+0.3×

Current ratio2.5×-0.1×

Where this comes from

Calculated from Hexcel’s reported figures.

$998.1Mtotal debt−$54.1Mcash and equivalents=$944M

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 net debt?: Hexcel (HXL) reported net debt of $944M in Q1 2026.
How has Hexcel's net debt changed year-over-year?: Hexcel's net debt increased by 35.2% year-over-year, from $698.1M to $944M.
What is the long-term trend for Hexcel's net debt?: Over 5 years (2020 to 2025), Hexcel's net debt has grown at a 1.4% compound annual growth rate (CAGR), from $883.8M to $947.7M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.