Hexcel vs Planet Labs
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The short version
- Hexcel is the larger business, with $1.9B of revenue in fiscal 2025 against $308M for Planet Labs, about 6.2 times as much.
- Planet Labs grew revenue faster (25.9%, against β0.5%).
- Hexcel kept more of each dollar of sales as operating profit (9.1% operating margin, against β30.9%).
- Planet Labs turned more of its sales into free cash flow (18.7% FCF margin, against 8.3%).
- Hexcel earned a higher return on the capital invested in it (6.5%, against β70.1%).
| Latest fiscal year | HXL Β· FY25 | PL Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $6.1B | $4.8B |
| Revenue | $1.9B | $308M |
| Free cash flow | $157M | $57.7M |
| Net income | $109M | β$247M |
| Growth | ||
| Revenue growth | β0.5% | 25.9% |
| 5-year growth | 4.7% | 22.1% |
| Share count change | β3.6% | 5.4% |
| Profitability | ||
| Gross margin | 23.0% | 56.1% |
| Operating margin | 9.1% | β30.9% |
| Net margin | 5.8% | β80.2% |
| FCF margin | 8.3% | 18.7% |
| Return on capital | 6.5% | β70.1% |
| Return on equity | 7.9% | β78.4% |
| Balance sheet | ||
| Net debt | $922M | β$193M |
| Net debt / EBITDA | 3.1x | β |
| Dividends and buybacks | $508M | $0.0M |
| Valuation & quality | ||
| P/E | 35.9x | β |
| Piotroski F-score | 6 | 3 |
Revenue
FY17
HXL $2.0B
PL β
FY18
HXL $2.2B
PL β
FY19
HXL $2.4B
PL β
FY20
HXL $1.5B
PL $95.7M
FY21
HXL $1.3B
PL $113M
FY22
HXL $1.6B
PL $131M
FY23
HXL $1.8B
PL $191M
FY24
HXL $1.9B
PL $221M
FY25
HXL $1.9B
PL $244M
FY26
HXL β
PL $308M
HXL
PL
Operating margin
FY17
HXL 17.8%
PL β
FY18
HXL 17.0%
PL β
FY19
HXL 18.1%
PL β
FY20
HXL 0.9%
PL β111.2%
FY21
HXL 3.9%
PL β77.3%
FY22
HXL 11.1%
PL β97.6%
FY23
HXL 12.0%
PL β91.9%
FY24
HXL 9.8%
PL β76.9%
FY25
HXL 9.1%
PL β47.5%
FY26
HXL β
PL β30.9%
HXL
PL
Free cash flow
FY17
HXL $151M
PL β
FY18
HXL $237M
PL β
FY19
HXL $287M
PL β
FY20
HXL $214M
PL β$50.4M
FY21
HXL $124M
PL β$30.1M
FY22
HXL $96.8M
PL β$52.5M
FY23
HXL $149M
PL β$84.4M
FY24
HXL $203M
PL β$88.7M
FY25
HXL $157M
PL β$58.7M
FY26
HXL β
PL $57.7M
HXL
PL
Return on capital
FY17
HXL 14.7%
PL β
FY18
HXL 13.4%
PL β
FY19
HXL 14.5%
PL β
FY20
HXL 0.5%
PL β
FY21
HXL 1.7%
PL β
FY22
HXL 6.4%
PL β70.6%
FY23
HXL 8.8%
PL β85.5%
FY24
HXL 7.4%
PL β69.4%
FY25
HXL 6.5%
PL β41.9%
FY26
HXL β
PL β70.1%
HXL
PL
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.