HEX Fundamental Analysis - HEXAGON COMPOSITES ASA

Fundamental Rating

Taking everything into account, HEX scores 3 out of 10 in our fundamental rating. HEX was compared to 108 industry peers in the Machinery industry. HEX may be in some trouble as it scores bad on both profitability and health. HEX is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year HEX has reported negative net income.

HEX had a positive operating cash flow in the past year.

HEX had negative earnings in 4 of the past 5 years.

In multiple years HEX reported negative operating cash flow during the last 5 years.

1.2 Ratios

Looking at the Return On Assets, with a value of -15.94%, HEX is doing worse than 86.11% of the companies in the same industry.

HEX has a worse Return On Equity (-35.45%) than 85.19% of its industry peers.

Looking at the Return On Invested Capital, with a value of 5.48%, HEX is in line with its industry, outperforming 48.15% of the companies in the same industry.

HEX had an Average Return On Invested Capital over the past 3 years of 3.60%. This is significantly below the industry average of 9.09%.

The 3 year average ROIC (3.60%) for HEX is below the current ROIC(5.48%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	-15.94%
ROE	-35.45%
ROIC	5.48%

ROA(3y)3.93%

ROA(5y)1.18%

ROE(3y)7.04%

ROE(5y)1.81%

ROIC(3y)3.6%

ROIC(5y)N/A

1.3 Margins

HEX has a Operating Margin (7.07%) which is comparable to the rest of the industry.

HEX's Operating Margin has improved in the last couple of years.

With a decent Gross Margin value of 48.70%, HEX is doing good in the industry, outperforming 63.89% of the companies in the same industry.

In the last couple of years the Gross Margin of HEX has remained more or less at the same level.

		Industry Rank	Sector Rank
OM	7.07%
PM (TTM)	N/A
GM	48.7%

OM growth 3YN/A

OM growth 5Y38.72%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-1.78%

GM growth 5Y-0.69%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so HEX is destroying value.

Compared to 1 year ago, HEX has more shares outstanding

Compared to 5 years ago, HEX has more shares outstanding

HEX has a worse debt/assets ratio than last year.

2.2 Solvency

HEX has an Altman-Z score of 2.02. This is not the best score and indicates that HEX is in the grey zone with still only limited risk for bankruptcy at the moment.

HEX has a Altman-Z score (2.02) which is in line with its industry peers.

A Debt/Equity ratio of 0.71 indicates that HEX is somewhat dependend on debt financing.

With a Debt to Equity ratio value of 0.71, HEX is not doing good in the industry: 66.67% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
Debt/Equity	0.71
Debt/FCF	N/A
Altman-Z	2.02

ROIC/WACC0.67

WACC8.22%

2.3 Liquidity

A Current Ratio of 2.41 indicates that HEX has no problem at all paying its short term obligations.

HEX has a better Current ratio (2.41) than 82.41% of its industry peers.

A Quick Ratio of 0.96 indicates that HEX may have some problems paying its short term obligations.

HEX has a Quick ratio of 0.96. This is comparable to the rest of the industry: HEX outperforms 44.44% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	2.41
Quick Ratio	0.96

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

HEX shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -173.10%.

Looking at the last year, HEX shows a decrease in Revenue. The Revenue has decreased by -5.70% in the last year.

HEX shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.37% yearly.

EPS 1Y (TTM)-173.1%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-87.34%

Revenue 1Y (TTM)-5.7%

Revenue growth 3Y11.23%

Revenue growth 5Y7.37%

Sales Q2Q%-16.11%

3.2 Future

HEX is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 30.87% yearly.

The Revenue is expected to grow by 14.48% on average over the next years. This is quite good.

EPS Next Y-55.39%

EPS Next 2Y19.31%

EPS Next 3Y30.87%

EPS Next 5YN/A

Revenue Next Year5.25%

Revenue Next 2Y13.92%

Revenue Next 3Y14.48%

Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for HEX. In the last year negative earnings were reported.

Based on the Price/Forward Earnings ratio of 9.88, the valuation of HEX can be described as reasonable.

Compared to the rest of the industry, the Price/Forward Earnings ratio of HEX indicates a somewhat cheap valuation: HEX is cheaper than 72.22% of the companies listed in the same industry.

When comparing the Price/Forward Earnings ratio of HEX to the average of the S&P500 Index (22.19), we can say HEX is valued rather cheaply.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	9.88

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, HEX is valued a bit cheaper than the industry average as 60.19% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	8.04

4.3 Compensation for Growth

A more expensive valuation may be justified as HEX's earnings are expected to grow with 30.87% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y19.31%

EPS Next 3Y30.87%

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5. Dividend

5.1 Amount

HEX does not give a dividend.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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HEXAGON COMPOSITES ASA

OSL:HEX (6/19/2025, 4:19:47 PM)

16.24

+0.24 (+1.5%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryMachinery

Earnings (Last)05-15 2025-05-15/bmo

Earnings (Next)08-14 2025-08-14

Inst Owners21.69%

Inst Owner ChangeN/A

Ins Owners0.33%

Ins Owner ChangeN/A

Market Cap3.41B

Analysts84

Price Target35.09 (116.07%)

Short Float %N/A

Short RatioN/A

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly Dividend0

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)-2127.28%

Min EPS beat(2)-4072.77%

Max EPS beat(2)-181.8%

EPS beat(4)N/A

Avg EPS beat(4)N/A

Min EPS beat(4)N/A

Max EPS beat(4)N/A

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)2

Avg Revenue beat(2)4.43%

Min Revenue beat(2)2.26%

Max Revenue beat(2)6.6%

Revenue beat(4)2

Avg Revenue beat(4)0.78%

Min Revenue beat(4)-5.31%

Max Revenue beat(4)6.6%

Revenue beat(8)4

Avg Revenue beat(8)-0.06%

Revenue beat(12)7

Avg Revenue beat(12)2.24%

Revenue beat(16)9

Avg Revenue beat(16)2.21%

PT rev (1m)-23.89%

PT rev (3m)-27.73%

EPS NQ rev (1m)0%

EPS NQ rev (3m)N/A

EPS NY rev (1m)0%

EPS NY rev (3m)0%

Revenue NQ rev (1m)-5.77%

Revenue NQ rev (3m)N/A

Revenue NY rev (1m)0%

Revenue NY rev (3m)-1.02%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	9.88
P/S	0.7
P/FCF	N/A
P/OCF	14.73
P/B	1.35
P/tB	4.71
EV/EBITDA	8.04

EPS(TTM)-4.24

EYN/A

EPS(NY)1.64

Fwd EY10.12%

FCF(TTM)-0.19

FCFYN/A

OCF(TTM)1.1

OCFY6.79%

SpS23.05

BVpS12

TBVpS3.45

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-15.94%
ROE	-35.45%
ROCE	7.12%
ROIC	5.48%
ROICexc	5.66%
ROICexgc	9.22%
OM	7.07%
PM (TTM)	N/A
GM	48.7%
FCFM	N/A

ROA(3y)3.93%

ROA(5y)1.18%

ROE(3y)7.04%

ROE(5y)1.81%

ROIC(3y)3.6%

ROIC(5y)N/A

ROICexc(3y)3.85%

ROICexc(5y)N/A

ROICexgc(3y)6.89%

ROICexgc(5y)N/A

ROCE(3y)4.67%

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5Y29.26%

ROICexc growth 3YN/A

ROICexc growth 5Y38.65%

OM growth 3YN/A

OM growth 5Y38.72%

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-1.78%

GM growth 5Y-0.69%

F-Score5

Asset Turnover0.86

Health

		Industry Rank	Sector Rank
Debt/Equity	0.71
Debt/FCF	N/A
Debt/EBITDA	2.84
Cap/Depr	94.9%
Cap/Sales	5.62%
Interest Coverage	2.35
Cash Conversion	36.83%
Profit Quality	N/A
Current Ratio	2.41
Quick Ratio	0.96
Altman-Z	2.02

F-Score5

WACC8.22%

ROIC/WACC0.67

Cap/Depr(3y)140.82%

Cap/Depr(5y)126.19%

Cap/Sales(3y)9.47%

Cap/Sales(5y)8.87%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-173.1%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-87.34%

EPS Next Y-55.39%

EPS Next 2Y19.31%

EPS Next 3Y30.87%

EPS Next 5YN/A

Revenue 1Y (TTM)-5.7%

Revenue growth 3Y11.23%

Revenue growth 5Y7.37%

Sales Q2Q%-16.11%

Revenue Next Year5.25%

Revenue Next 2Y13.92%

Revenue Next 3Y14.48%

Revenue Next 5YN/A

EBIT growth 1Y64.09%

EBIT growth 3YN/A

EBIT growth 5Y48.95%

EBIT Next Year78.55%

EBIT Next 3Y50.89%

EBIT Next 5YN/A

FCF growth 1Y92.26%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y181.11%

OCF growth 3YN/A

OCF growth 5Y-8.71%

HEXAGON COMPOSITES ASA (HEX.OL) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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