AAR vs Hexcel
AAR is the larger business, with $3.31bn of revenue in fiscal 2026 against $1.89bn for Hexcel (1.7 times as much). AAR grew faster (19.0% against -0.5%). Hexcel kept more of each dollar of sales as profit: a net margin of 5.8% against 5.7%. AAR carries less debt relative to equity (52.5% against 79.4%).
| Latest fiscal year | AARAIR, 2026 | HexcelHXL, 2025 |
|---|---|---|
| Revenue | $3.31bn | $1.89bn |
| Revenue growth | 19.0% | -0.5% |
| Net income | $188m | $109m |
| Operating margin | — | 9.1% |
| Net margin | 5.7% | 5.8% |
| Return on equity | 12.9% | 7.9% |
| Free cash flow | $62.1m | $157m |
| Cash | $84.0m | $71.0m |
| Total debt | $894m | $993m |
| Debt to equity | 52.5% | 79.4% |
| Dividend per share | — | — |
| Dividend yield | — | 0.9% |
| Share buybacks | — | $454m |
| Employees | 7,100 | 5,563 |
| Market value | $4.37bn | $6.32bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | 32 (Weak) | 59 (Moderate) |
| Insider trades, 12 months | 0 buys, 25 sales | 0 buys, 5 sales |