HEXAGON COMPOSITES ASA (HEX.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:HEX • NO0003067902

8.06 NOK
+0.41 (+5.36%)
Last: Feb 3, 2026, 04:16 PM
Fundamental Rating

1

Taking everything into account, HEX scores 1 out of 10 in our fundamental rating. HEX was compared to 112 industry peers in the Machinery industry. Both the profitability and financial health of HEX have multiple concerns. HEX has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • HEX had negative earnings in the past year.
  • HEX had a positive operating cash flow in the past year.
  • HEX had negative earnings in 4 of the past 5 years.
  • The reported operating cash flow has been mixed in the past 5 years: HEX reported negative operating cash flow in multiple years.
HEX.OL Yearly Net Income VS EBIT VS OCF VS FCFHEX.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M -500M 1B -1B

1.2 Ratios

  • HEX has a Return On Assets of -33.58%. This is amonst the worse of the industry: HEX underperforms 91.96% of its industry peers.
  • HEX has a Return On Equity of -64.99%. This is amonst the worse of the industry: HEX underperforms 88.39% of its industry peers.
Industry RankSector Rank
ROA -33.58%
ROE -64.99%
ROIC N/A
ROA(3y)3.62%
ROA(5y)0.99%
ROE(3y)6.4%
ROE(5y)1.43%
ROIC(3y)N/A
ROIC(5y)N/A
HEX.OL Yearly ROA, ROE, ROICHEX.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

1.3 Margins

  • HEX's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 48.59%, HEX is in the better half of the industry, outperforming 66.96% of the companies in the same industry.
  • HEX's Gross Margin has been stable in the last couple of years.
  • The Profit Margin and Operating Margin are not available for HEX so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 48.59%
OM growth 3YN/A
OM growth 5Y39.44%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.13%
GM growth 5Y-0.9%
HEX.OL Yearly Profit, Operating, Gross MarginsHEX.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

More info and screens

2

2. Health

2.1 Basic Checks

  • HEX does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for HEX has been increased compared to 1 year ago.
  • HEX has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for HEX is higher compared to a year ago.
HEX.OL Yearly Shares OutstandingHEX.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
HEX.OL Yearly Total Debt VS Total AssetsHEX.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

  • Based on the Altman-Z score of 1.46, we must say that HEX is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.46, HEX is doing worse than 64.29% of the companies in the same industry.
  • A Debt/Equity ratio of 0.57 indicates that HEX is somewhat dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.57, HEX is doing worse than 61.61% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF N/A
Altman-Z 1.46
ROIC/WACCN/A
WACC9.78%
HEX.OL Yearly LT Debt VS Equity VS FCFHEX.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B 3B

2.3 Liquidity

  • HEX has a Current Ratio of 2.94. This indicates that HEX is financially healthy and has no problem in meeting its short term obligations.
  • HEX has a Current ratio of 2.94. This is amongst the best in the industry. HEX outperforms 86.61% of its industry peers.
  • HEX has a Quick Ratio of 2.94. This is a bad value and indicates that HEX is not financially healthy enough and could expect problems in meeting its short term obligations.
  • HEX has a Quick ratio of 0.90. This is comparable to the rest of the industry: HEX outperforms 41.96% of its industry peers.
Industry RankSector Rank
Current Ratio 2.94
Quick Ratio 0.9
HEX.OL Yearly Current Assets VS Current LiabilitesHEX.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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1

3. Growth

3.1 Past

  • HEX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -337.60%.
  • Looking at the last year, HEX shows a very negative growth in Revenue. The Revenue has decreased by -25.88% in the last year.
  • HEX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.32% yearly.
EPS 1Y (TTM)-337.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-10572%
Revenue 1Y (TTM)-25.88%
Revenue growth 3Y11.13%
Revenue growth 5Y7.32%
Sales Q2Q%-56.98%

3.2 Future

  • The Earnings Per Share is expected to decrease by -4.21% on average over the next years.
  • Based on estimates for the next years, HEX will show a small growth in Revenue. The Revenue will grow by 3.65% on average per year.
EPS Next Y-340.53%
EPS Next 2Y-61.89%
EPS Next 3Y-4.21%
EPS Next 5YN/A
Revenue Next Year-40.16%
Revenue Next 2Y-13.62%
Revenue Next 3Y3.65%
Revenue Next 5YN/A

3.3 Evolution

  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
HEX.OL Yearly Revenue VS EstimatesHEX.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1B 2B 3B 4B 5B
HEX.OL Yearly EPS VS EstimatesHEX.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 2 -2 4 6 8

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0

4. Valuation

4.1 Price/Earnings Ratio

  • HEX reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Also next year HEX is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
HEX.OL Price Earnings VS Forward Price EarningsHEX.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 30

4.2 Price Multiples

  • HEX's Enterprise Value to EBITDA is on the same level as the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 13.52
HEX.OL Per share dataHEX.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 -5 10

4.3 Compensation for Growth

  • HEX's earnings are expected to decrease with -4.21% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-61.89%
EPS Next 3Y-4.21%

More info and screens

0

5. Dividend

5.1 Amount

  • No dividends for HEX!.
Industry RankSector Rank
Dividend Yield 0%

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HEXAGON COMPOSITES ASA

OSL:HEX (2/3/2026, 4:16:44 PM)

8.06

+0.41 (+5.36%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)11-06
Earnings (Next)02-12
Inst Owners13.31%
Inst Owner ChangeN/A
Ins Owners0.14%
Ins Owner ChangeN/A
Market Cap2.03B
Revenue(TTM)3.64B
Net Income(TTM)-1.76B
Analysts80
Price Target27.29 (238.59%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-58.6%
Min EPS beat(2)-85.19%
Max EPS beat(2)-32.01%
EPS beat(4)0
Avg EPS beat(4)-1092.94%
Min EPS beat(4)-4072.77%
Max EPS beat(4)-32.01%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-21.8%
Min Revenue beat(2)-30.17%
Max Revenue beat(2)-13.43%
Revenue beat(4)2
Avg Revenue beat(4)-8.69%
Min Revenue beat(4)-30.17%
Max Revenue beat(4)6.6%
Revenue beat(8)3
Avg Revenue beat(8)-4.66%
Revenue beat(12)5
Avg Revenue beat(12)-3.75%
Revenue beat(16)9
Avg Revenue beat(16)0.36%
PT rev (1m)0%
PT rev (3m)-17.05%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-55.56%
EPS NY rev (1m)0%
EPS NY rev (3m)-21.15%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-31.63%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-27.49%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.56
P/FCF N/A
P/OCF 16.63
P/B 0.75
P/tB 2.02
EV/EBITDA 13.52
EPS(TTM)-6.62
EYN/A
EPS(NY)-0.72
Fwd EYN/A
FCF(TTM)-0.26
FCFYN/A
OCF(TTM)0.48
OCFY6.01%
SpS14.46
BVpS10.74
TBVpS3.99
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -33.58%
ROE -64.99%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 48.59%
FCFM N/A
ROA(3y)3.62%
ROA(5y)0.99%
ROE(3y)6.4%
ROE(5y)1.43%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)4.07%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5Y39.44%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-2.13%
GM growth 5Y-0.9%
F-Score4
Asset Turnover0.7
Health
Industry RankSector Rank
Debt/Equity 0.57
Debt/FCF N/A
Debt/EBITDA 5.98
Cap/Depr 67.11%
Cap/Sales 5.12%
Interest Coverage N/A
Cash Conversion 47.24%
Profit Quality N/A
Current Ratio 2.94
Quick Ratio 0.9
Altman-Z 1.46
F-Score4
WACC9.78%
ROIC/WACCN/A
Cap/Depr(3y)141.66%
Cap/Depr(5y)126.69%
Cap/Sales(3y)9.97%
Cap/Sales(5y)9.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-337.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-10572%
EPS Next Y-340.53%
EPS Next 2Y-61.89%
EPS Next 3Y-4.21%
EPS Next 5YN/A
Revenue 1Y (TTM)-25.88%
Revenue growth 3Y11.13%
Revenue growth 5Y7.32%
Sales Q2Q%-56.98%
Revenue Next Year-40.16%
Revenue Next 2Y-13.62%
Revenue Next 3Y3.65%
Revenue Next 5YN/A
EBIT growth 1Y-107.7%
EBIT growth 3YN/A
EBIT growth 5Y49.64%
EBIT Next Year-91.83%
EBIT Next 3Y34.69%
EBIT Next 5YN/A
FCF growth 1Y95.25%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y116.64%
OCF growth 3YN/A
OCF growth 5Y-7.73%

HEXAGON COMPOSITES ASA / HEX.OL FAQ

Can you provide the ChartMill fundamental rating for HEXAGON COMPOSITES ASA?

ChartMill assigns a fundamental rating of 1 / 10 to HEX.OL.


What is the valuation status for HEX stock?

ChartMill assigns a valuation rating of 0 / 10 to HEXAGON COMPOSITES ASA (HEX.OL). This can be considered as Overvalued.


How profitable is HEXAGON COMPOSITES ASA (HEX.OL) stock?

HEXAGON COMPOSITES ASA (HEX.OL) has a profitability rating of 2 / 10.


What is the financial health of HEXAGON COMPOSITES ASA (HEX.OL) stock?

The financial health rating of HEXAGON COMPOSITES ASA (HEX.OL) is 2 / 10.


What is the earnings growth outlook for HEXAGON COMPOSITES ASA?

The Earnings per Share (EPS) of HEXAGON COMPOSITES ASA (HEX.OL) is expected to decline by -340.53% in the next year.