Hexcel Corp filed its 10-Q with the SEC, and its figures are now in our data. Revenue over the twelve months to Q3 2026 was $2.02 billion, which rose 7.6% on the year before. That growth rate was up 2.2 percentage points on the rate a quarter earlier.

Profitability

The trailing gross margin was 25.2%. The trailing operating margin was 12.2%, up 5.9 percentage points from a year earlier. The trailing net margin was 8.5%. Net income over the twelve months was $171.5 million, which rose 149.3% on the year before.

Cash flow

Operating cash flow over the twelve months was $296.6 million, up 10.8% on the year before. Capital spending was $86.8 million, or 4.3% of revenue. Free cash flow, operating cash flow less capital spending, was $209.8 million, up 8.2% on the year before. Free cash flow was 10.4% of revenue (the free-cash-flow margin), up 0.1 percentage points from a year earlier.

Share count

The average diluted share count fell 5.3% over the year.

Against its own history

Today’s free-cash-flow margin of 10.4% is higher than 63% of the company’s own past quarterly readings, which have ranged from 4.2% to 17.8%. Today’s operating margin of 12.2% is higher than 66% of the company’s own past quarterly readings, which have ranged from −4.9% to 18.0%. Today’s twelve-month revenue growth rate of 7.6% is higher than 52% of the company’s own past quarterly readings, which have ranged from −44.4% to 21.8%.

Guidance

The company kept its 2026 guidance for Sales: $2.02 billion to $2.12 billion. The company kept its 2026 guidance for Adjusted diluted earnings per share: $2.30 to $2.40.

What it means for value

In our model, growth 5 percentage points lower would lower the value by 29.4%, and 5 percentage points higher would raise it by 38.3%. A free-cash-flow margin 1 percentage point lower would lower it by 9.7%.

What to watch

The next filing will provide updated figures for revenue, operating cash flow, and free cash flow to show if the recent trends continue. It will also disclose the latest gross, operating, and net margins alongside the average diluted share count. Investors will look to see if the company maintains its current position relative to its historical performance ranges.