Hexcel vs Joby Aviation
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KIRAβs take AI analyst
I put Hexcel and Joby Aviation side by side, using each oneβs latest annual report. Here is what stands out:
- Hexcel is the larger business, with $1.9B of revenue in fiscal 2025 against $53.4M for Joby Aviation, about 35 times as much.
- Joby Aviation grew revenue faster (39,183.1%, against β0.5%).
- Hexcel kept more of each dollar of sales as operating profit (9.1% operating margin, against β1,346.9%).
- Hexcel turned more of its sales into free cash flow (8.3% FCF margin, against β1,055.3%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Hexcel
HXL
5/6
Operating marginNet marginFCF marginReturn on equityShare count change
Joby Aviation
JOBY
1/6
Revenue growth
Side by side
Best in the row
| Latest fiscal year | HXL FY25 | JOBY FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.1B | $4.6B |
| Revenue | $1.9B | $53.4M |
| Free cash flow | $157M | β$564M |
| Net income | $109M | β$930M |
| Growth | ||
| Revenue growth | β0.5% | 39,183.1% |
| 5-year growth | 4.7% | β |
| Share count change | β3.6% | 18.1% |
| Profitability | ||
| Gross margin | 23.0% | β |
| Operating margin | 9.1% | β1,346.9% |
| Net margin | 5.8% | β1,740.5% |
| FCF margin | 8.3% | β1,055.3% |
| Return on capital | 6.5% | β |
| Return on equity | 7.9% | β80.1% |
| Balance sheet | ||
| Net debt | $922M | β |
| Net debt / EBITDA | 3.1x | β |
| Dividends and buybacks | $508M | $0.0M |
| Valuation & quality | ||
| P/E | 35.9x | β |
| Piotroski F-score | 6 | β |
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.

