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Side-by-side financial comparison of HEXCEL CORP (HXL) and KRATOS DEFENSE & SECURITY SOLUTIONS, INC. (KTOS). Click either name above to swap in a different company.
HEXCEL CORP is the larger business by last-quarter revenue ($501.5M vs $345.1M, roughly 1.5× KRATOS DEFENSE & SECURITY SOLUTIONS, INC.). HEXCEL CORP runs the higher net margin — 7.4% vs 1.7%, a 5.7% gap on every dollar of revenue. On growth, KRATOS DEFENSE & SECURITY SOLUTIONS, INC. posted the faster year-over-year revenue change (21.9% vs 9.9%). Over the past eight quarters, KRATOS DEFENSE & SECURITY SOLUTIONS, INC.'s revenue compounded faster (11.6% CAGR vs 0.1%).
Hexcel Corporation is an American public industrial materials company, based in Stamford, Connecticut. The company develops and manufactures structural materials. Hexcel was formed from the combination of California Reinforced Plastics, Ciba Composites and Hercules Composites Products Division. The company sells its products in commercial, military and recreational markets for use in commercial and military aircraft, space launch vehicles and satellites, wind turbine blades, sports equipment ...
Kratos Defense & Security Solutions, Inc. is an American technology company with manufacturing concentrations in weapons and military electronics. It is headquartered in San Diego, California, United States. Customers include the U.S. federal government, foreign governments, commercial enterprises and state and local government agencies. The company is divided into 6 divisions.
HXL vs KTOS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $501.5M | $345.1M |
| Net Profit | $37.2M | $5.9M |
| Gross Margin | 26.9% | 24.2% |
| Operating Margin | 11.5% | 2.4% |
| Net Margin | 7.4% | 1.7% |
| Revenue YoY | 9.9% | 21.9% |
| Net Profit YoY | 29.6% | 51.3% |
| EPS (diluted) | $0.49 | $0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $501.5M | — | ||
| Q4 25 | $491.3M | $345.1M | ||
| Q3 25 | $456.2M | $347.6M | ||
| Q2 25 | $489.9M | $351.5M | ||
| Q1 25 | $456.5M | $302.6M | ||
| Q4 24 | $473.8M | $283.1M | ||
| Q3 24 | $456.5M | $275.9M | ||
| Q2 24 | $500.4M | $300.1M |
| Q1 26 | $37.2M | — | ||
| Q4 25 | $46.4M | $5.9M | ||
| Q3 25 | $20.6M | $8.7M | ||
| Q2 25 | $13.5M | $2.9M | ||
| Q1 25 | $28.9M | $4.5M | ||
| Q4 24 | $5.8M | $3.9M | ||
| Q3 24 | $39.8M | $3.2M | ||
| Q2 24 | $50.0M | $7.9M |
| Q1 26 | 26.9% | — | ||
| Q4 25 | 24.6% | 24.2% | ||
| Q3 25 | 21.9% | 22.2% | ||
| Q2 25 | 22.8% | 21.0% | ||
| Q1 25 | 22.4% | 24.3% | ||
| Q4 24 | 25.0% | 24.7% | ||
| Q3 24 | 23.3% | 25.1% | ||
| Q2 24 | 25.3% | 25.7% |
| Q1 26 | 11.5% | — | ||
| Q4 25 | 12.5% | 2.4% | ||
| Q3 25 | 7.9% | 2.0% | ||
| Q2 25 | 6.1% | 1.1% | ||
| Q1 25 | 9.7% | 2.2% | ||
| Q4 24 | 1.9% | 1.1% | ||
| Q3 24 | 11.5% | 2.4% | ||
| Q2 24 | 14.3% | 4.2% |
| Q1 26 | 7.4% | — | ||
| Q4 25 | 9.4% | 1.7% | ||
| Q3 25 | 4.5% | 2.5% | ||
| Q2 25 | 2.8% | 0.8% | ||
| Q1 25 | 6.3% | 1.5% | ||
| Q4 24 | 1.2% | 1.4% | ||
| Q3 24 | 8.7% | 1.2% | ||
| Q2 24 | 10.0% | 2.6% |
| Q1 26 | $0.49 | — | ||
| Q4 25 | — | $0.03 | ||
| Q3 25 | — | $0.05 | ||
| Q2 25 | — | $0.02 | ||
| Q1 25 | — | $0.03 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | — | $0.02 | ||
| Q2 24 | — | $0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $54.1M | $560.6M |
| Total DebtLower is stronger | $998.1M | — |
| Stockholders' EquityBook value | $1.3B | $2.0B |
| Total Assets | $2.7B | $2.5B |
| Debt / EquityLower = less leverage | 0.79× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $54.1M | — | ||
| Q4 25 | $71.0M | $560.6M | ||
| Q3 25 | $90.5M | $565.9M | ||
| Q2 25 | $77.2M | $783.6M | ||
| Q1 25 | $89.2M | $263.7M | ||
| Q4 24 | $125.4M | $329.3M | ||
| Q3 24 | $98.2M | $301.5M | ||
| Q2 24 | $75.4M | $308.2M |
| Q1 26 | $998.1M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $2.0B | ||
| Q3 25 | $1.6B | $2.0B | ||
| Q2 25 | $1.6B | $2.0B | ||
| Q1 25 | $1.5B | $1.4B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.6B | $1.3B |
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $2.5B | ||
| Q3 25 | $2.8B | $2.4B | ||
| Q2 25 | $2.8B | $2.6B | ||
| Q1 25 | $2.8B | $2.0B | ||
| Q4 24 | $2.7B | $2.0B | ||
| Q3 24 | $2.9B | $1.9B | ||
| Q2 24 | $2.8B | $1.9B |
| Q1 26 | 0.79× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $12.1M |
| Free Cash FlowOCF − Capex | — | $-12.1M |
| FCF MarginFCF / Revenue | — | -3.5% |
| Capex IntensityCapex / Revenue | 3.2% | 7.0% |
| Cash ConversionOCF / Net Profit | — | 2.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-137.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $125.5M | $12.1M | ||
| Q3 25 | $110.2M | $-13.3M | ||
| Q2 25 | $23.3M | $-11.7M | ||
| Q1 25 | $-28.5M | $-29.2M | ||
| Q4 24 | $162.6M | $45.6M | ||
| Q3 24 | $90.1M | $6.1M | ||
| Q2 24 | $44.2M | $-2.7M |
| Q1 26 | — | — | ||
| Q4 25 | $107.3M | $-12.1M | ||
| Q3 25 | $96.5M | $-41.3M | ||
| Q2 25 | $8.0M | $-32.2M | ||
| Q1 25 | $-54.6M | $-51.8M | ||
| Q4 24 | $144.0M | $32.0M | ||
| Q3 24 | $73.3M | $-9.2M | ||
| Q2 24 | $21.3M | $-15.4M |
| Q1 26 | — | — | ||
| Q4 25 | 21.8% | -3.5% | ||
| Q3 25 | 21.2% | -11.9% | ||
| Q2 25 | 1.6% | -9.2% | ||
| Q1 25 | -12.0% | -17.1% | ||
| Q4 24 | 30.4% | 11.3% | ||
| Q3 24 | 16.1% | -3.3% | ||
| Q2 24 | 4.3% | -5.1% |
| Q1 26 | 3.2% | — | ||
| Q4 25 | 3.7% | 7.0% | ||
| Q3 25 | 3.0% | 8.1% | ||
| Q2 25 | 3.1% | 5.8% | ||
| Q1 25 | 5.7% | 7.5% | ||
| Q4 24 | 3.9% | 4.8% | ||
| Q3 24 | 3.7% | 5.5% | ||
| Q2 24 | 4.6% | 4.2% |
| Q1 26 | — | — | ||
| Q4 25 | 2.70× | 2.05× | ||
| Q3 25 | 5.35× | -1.53× | ||
| Q2 25 | 1.73× | -4.03× | ||
| Q1 25 | -0.99× | -6.49× | ||
| Q4 24 | 28.03× | 11.69× | ||
| Q3 24 | 2.26× | 1.91× | ||
| Q2 24 | 0.88× | -0.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HXL
Segment breakdown not available.
KTOS
| Kratos Government Solutions | $276.7M | 80% |
| Non US Government | $65.0M | 19% |
| Norden Millimeter Inc | $5.3M | 2% |
