BWX Technologies
BWXT · Aerospace & Defense
$127.19
0.1%Hexcel
HXL · Aerospace & Defense
$79.62
2.0%The short version
- 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% operating margin).
- BWX Technologies turned more of its sales into free cash flow (9.2% FCF margin, against 8.3% FCF margin).
- 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 33.0x for BWX Technologies.
| Latest fiscal year | BWXT · FY25 | HXL · FY25 |
|---|---|---|
| Size | ||
| Market cap | $11.7B | $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 | 33.0x | 35.9x |
| Piotroski F-score | 7 | 6 |
FY16
BWXT $1.6B
HXL $2.0B
FY17
BWXT $1.7B
HXL $2.0B
FY18
BWXT $1.8B
HXL $2.2B
FY19
BWXT $1.9B
HXL $2.4B
FY20
BWXT $2.1B
HXL $1.5B
FY21
BWXT $2.1B
HXL $1.3B
FY22
BWXT $2.2B
HXL $1.6B
FY23
BWXT $2.5B
HXL $1.8B
FY24
BWXT $2.7B
HXL $1.9B
FY25
BWXT $3.2B
HXL $1.9B
BWXT
HXL
FY16
BWXT 15.1%
HXL 18.0%
FY17
BWXT 17.3%
HXL 17.8%
FY18
BWXT 16.9%
HXL 17.0%
FY19
BWXT 17.2%
HXL 18.1%
FY20
BWXT 16.9%
HXL 0.9%
FY21
BWXT 16.3%
HXL 3.9%
FY22
BWXT 15.6%
HXL 11.1%
FY23
BWXT 15.4%
HXL 12.0%
FY24
BWXT 14.1%
HXL 9.8%
FY25
BWXT 12.7%
HXL 9.1%
BWXT
HXL
FY16
BWXT $187M
HXL $73.5M
FY17
BWXT $125M
HXL $151M
FY18
BWXT $60.0M
HXL $237M
FY19
BWXT $97.2M
HXL $287M
FY20
BWXT −$58.6M
HXL $214M
FY21
BWXT $75.0M
HXL $124M
FY22
BWXT $46.4M
HXL $96.8M
FY23
BWXT $212M
HXL $149M
FY24
BWXT $255M
HXL $203M
FY25
BWXT $295M
HXL $157M
BWXT
HXL
FY16
BWXT —
HXL 14.6%
FY17
BWXT —
HXL 14.7%
FY18
BWXT 32.6%
HXL 13.4%
FY19
BWXT 24.3%
HXL 14.5%
FY20
BWXT 21.5%
HXL 0.5%
FY21
BWXT 16.6%
HXL 1.7%
FY22
BWXT 14.0%
HXL 6.4%
FY23
BWXT 14.4%
HXL 8.8%
FY24
BWXT 14.9%
HXL 7.4%
FY25
BWXT 13.9%
HXL 6.5%
BWXT
HXL
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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.