BWX Technologies vs Hexcel
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KIRA’s take AI analyst
I put BWX Technologies and Hexcel side by side, using each one’s latest annual report. Here is what stands out:
- BWX Technologies is the larger business, with $3.2B of revenue in fiscal 2025 against $1.9B for Hexcel, about 1.7 times as much.
- BWX Technologies grew revenue faster (18.3%, against −0.5%).
- BWX Technologies kept more of each dollar of sales as operating profit (12.7% operating margin, against 9.1%).
- BWX Technologies turned more of its sales into free cash flow (9.2% FCF margin, against 8.3%).
- BWX Technologies earned a higher return on the capital invested in it (13.9%, against 6.5%).
- Investors pay more for each dollar of Hexcel’s earnings: a P/E of 35.9x against 34.0x for BWX Technologies.
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
BWX Technologies
BWXT
9/11
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDA
Hexcel
HXL
2/11
Gross marginShare count change
Side by side
Best in the row
| Latest fiscal year | BWXT FY25 | HXL FY25 |
|---|---|---|
| Size | ||
| Market cap | $12.1B | $6.1B |
| Revenue | $3.2B | $1.9B |
| Free cash flow | $295M | $157M |
| Net income | $329M | $109M |
| Growth | ||
| Revenue growth | 18.3% | −0.5% |
| 5-year growth | 8.5% | 4.7% |
| Share count change | 0.0% | −3.6% |
| Profitability | ||
| Gross margin | 22.9% | 23.0% |
| Operating margin | 12.7% | 9.1% |
| Net margin | 10.3% | 5.8% |
| FCF margin | 9.2% | 8.3% |
| Return on capital | 13.9% | 6.5% |
| Return on equity | 28.4% | 7.9% |
| Balance sheet | ||
| Net debt | $1.5B | $922M |
| Net debt / EBITDA | 3.0x | 3.1x |
| Dividends and buybacks | $123M | $508M |
| Valuation & quality | ||
| P/E | 34.0x | 35.9x |
| Piotroski F-score | 7 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.