Hexcel Corporation (HXL)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	433,200	357,100	250,100	239,700	640,400
Revenue	US$ in thousands	1,758,000	1,541,500	1,286,400	1,460,600	2,310,200
Gross profit margin		24.64%	23.17%	19.44%	16.41%	27.72%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $433,200K ÷ $1,758,000K
= 24.64%

The gross profit margin of Hexcel Corp. has shown a fluctuating trend over the past five years, ranging from 15.95% in 2020 to 27.19% in 2019. The company experienced a significant increase in gross profit margin in 2019, followed by a decline in the subsequent years. In 2021, the gross profit margin was 18.88%, slightly lower than the previous year. However, there was a notable improvement in 2022 when the margin increased to 22.63%. This positive momentum continued in 2023, with the gross profit margin reaching 24.21%, reflecting an upward trend in profitability. Overall, Hexcel Corp.'s gross profit margin has demonstrated variability but has shown signs of improvement in recent years.