Hexcel vs Intuitive Machines
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KIRAβs take AI analyst
I put Hexcel and Intuitive Machines 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 $210M for Intuitive Machines, about 9.0 times as much.
- Hexcel grew revenue faster (β0.5%, against β7.9%).
- Hexcel kept more of each dollar of sales as operating profit (9.1% operating margin, against β41.5%).
- Hexcel turned more of its sales into free cash flow (8.3% FCF margin, against β26.6%).
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
Hexcel
HXL
6/6
Revenue growthOperating marginNet marginFCF marginPiotroski F-scoreShare count change
Intuitive Machines
LUNR
0/6
Side by side
Best in the row
| Latest fiscal year | HXL FY25 | LUNR FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.1B | $1.9B |
| Revenue | $1.9B | $210M |
| Free cash flow | $157M | β$56.0M |
| Net income | $109M | β$83.3M |
| Growth | ||
| Revenue growth | β0.5% | β7.9% |
| 5-year growth | 4.7% | β |
| Share count change | β3.6% | 88.0% |
| Profitability | ||
| Gross margin | 23.0% | β |
| Operating margin | 9.1% | β41.5% |
| Net margin | 5.8% | β39.7% |
| FCF margin | 8.3% | β26.6% |
| Return on capital | 6.5% | β |
| Return on equity | 7.9% | β |
| Balance sheet | ||
| Net debt | $922M | β$247M |
| Net debt / EBITDA | 3.1x | β |
| Dividends and buybacks | $508M | $20.7M |
| Valuation & quality | ||
| P/E | 35.5x | β |
| Piotroski F-score | 6 | 3 |
Ten years
Revenue
FY16
HXL $2.0B
LUNR β
FY17
HXL $2.0B
LUNR β
FY18
HXL $2.2B
LUNR β
FY19
HXL $2.4B
LUNR β
FY20
HXL $1.5B
LUNR β
FY21
HXL $1.3B
LUNR β
FY22
HXL $1.6B
LUNR $85.9M
FY23
HXL $1.8B
LUNR $79.6M
FY24
HXL $1.9B
LUNR $228M
FY25
HXL $1.9B
LUNR $210M
HXL
LUNR
Operating margin
FY16
HXL 18.0%
LUNR β
FY17
HXL 17.8%
LUNR β
FY18
HXL 17.0%
LUNR β
FY19
HXL 18.1%
LUNR β
FY20
HXL 0.9%
LUNR β
FY21
HXL 3.9%
LUNR β
FY22
HXL 11.1%
LUNR β6.4%
FY23
HXL 12.0%
LUNR β76.8%
FY24
HXL 9.8%
LUNR β25.2%
FY25
HXL 9.1%
LUNR β41.5%
HXL
LUNR
Free cash flow
FY16
HXL $73.5M
LUNR β
FY17
HXL $151M
LUNR β
FY18
HXL $237M
LUNR β
FY19
HXL $287M
LUNR β
FY20
HXL $214M
LUNR β
FY21
HXL $124M
LUNR β
FY22
HXL $96.8M
LUNR β$15.6M
FY23
HXL $149M
LUNR β$75.2M
FY24
HXL $203M
LUNR β$67.7M
FY25
HXL $157M
LUNR β$56.0M
HXL
LUNR
Return on capital
FY16
HXL 14.6%
LUNR β
FY17
HXL 14.7%
LUNR β
FY18
HXL 13.4%
LUNR β
FY19
HXL 14.5%
LUNR β
FY20
HXL 0.5%
LUNR β
FY21
HXL 1.7%
LUNR β
FY22
HXL 6.4%
LUNR β
FY23
HXL 8.8%
LUNR β
FY24
HXL 7.4%
LUNR β
FY25
HXL 6.5%
LUNR β
HXL
LUNR
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.