HEX Fundamental Analysis - HEXAGON COMPOSITES ASA

Fundamental Rating

Overall HEX gets a fundamental rating of 3 out of 10. We evaluated HEX against 106 industry peers in the Machinery industry. HEX may be in some trouble as it scores bad on both profitability and health. HEX is valied quite expensively at the moment, while 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.

In the past 5 years HEX reported 4 times negative net income.

The reported operating cash flow has been mixed in the past 5 years: HEX reported negative operating cash flow in multiple years.

1.2 Ratios

HEX has a worse Return On Assets (-17.08%) than 86.79% of its industry peers.

Looking at the Return On Equity, with a value of -37.98%, HEX is doing worse than 84.91% of the companies in the same industry.

Looking at the Return On Invested Capital, with a value of 5.48%, HEX is in line with its industry, outperforming 50.94% of the companies in the same industry.

HEX had an Average Return On Invested Capital over the past 3 years of 3.66%. This is significantly below the industry average of 9.04%.

The 3 year average ROIC (3.66%) for HEX is below the current ROIC(5.48%), indicating increased profibility in the last year.

		Industry Rank	Sector Rank
ROA	-17.08%
ROE	-37.98%
ROIC	5.48%

ROA(3y)3.62%

ROA(5y)0.99%

ROE(3y)6.4%

ROE(5y)1.43%

ROIC(3y)3.66%

ROIC(5y)N/A

1.3 Margins

HEX has a Operating Margin of 7.08%. This is comparable to the rest of the industry: HEX outperforms 56.60% of its industry peers.

In the last couple of years the Operating Margin of HEX has grown nicely.

Looking at the Gross Margin, with a value of 48.59%, HEX is in the better half of the industry, outperforming 65.09% of the companies in the same industry.

HEX's Gross Margin has been stable in the last couple of years.

		Industry Rank	Sector Rank
OM	7.08%
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%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

HEX has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.

The number of shares outstanding for HEX has been increased compared to 1 year ago.

Compared to 5 years ago, HEX has more shares outstanding

Compared to 1 year ago, HEX has a worse debt to assets ratio.

2.2 Solvency

HEX has an Altman-Z score of 2.05. 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.

With a Altman-Z score value of 2.05, HEX perfoms like the industry average, outperforming 46.23% of the companies in the same industry.

HEX has a Debt/Equity ratio of 0.71. This is a neutral value indicating HEX is somewhat dependend on debt financing.

HEX has a worse Debt to Equity ratio (0.71) than 68.87% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	0.71
Debt/FCF	N/A
Altman-Z	2.05

ROIC/WACC0.63

WACC8.75%

2.3 Liquidity

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

HEX's Current ratio of 2.41 is amongst the best of the industry. HEX outperforms 83.96% of its industry peers.

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

HEX's Quick ratio of 0.96 is in line compared to the rest of the industry. HEX outperforms 45.28% 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 -174.47%.

HEX shows a decrease in Revenue. In the last year, the revenue decreased by -5.91%.

Measured over the past years, HEX shows a small growth in Revenue. The Revenue has been growing by 7.32% on average per year.

EPS 1Y (TTM)-174.47%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-87.34%

Revenue 1Y (TTM)-5.91%

Revenue growth 3Y11.13%

Revenue growth 5Y7.32%

Sales Q2Q%-16.11%

3.2 Future

Based on estimates for the next years, HEX will show a very strong growth in Earnings Per Share. The EPS will grow by 30.87% on average per year.

HEX is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.03% yearly.

EPS Next Y-55.39%

EPS Next 2Y19.31%

EPS Next 3Y30.87%

EPS Next 5YN/A

Revenue Next Year-6.9%

Revenue Next 2Y3.99%

Revenue Next 3Y10.03%

Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

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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.

With a Price/Forward Earnings ratio of 10.22, the valuation of HEX can be described as very reasonable.

72.64% of the companies in the same industry are more expensive than HEX, based on the Price/Forward Earnings ratio.

When comparing the Price/Forward Earnings ratio of HEX to the average of the S&P500 Index (34.94), we can say HEX is valued rather cheaply.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	10.22

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HEX is on the same level as its industry peers.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	8.34

4.3 Compensation for Growth

HEX's earnings are expected to grow with 30.87% in the coming years. This may justify a more expensive valuation.

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 (8/21/2025, 4:19:46 PM)

16.8

-0.1 (-0.59%)

Chartmill FA Rating

GICS SectorIndustrials

GICS IndustryGroupCapital Goods

GICS IndustryMachinery

Earnings (Last)08-14 2025-08-14

Earnings (Next)11-06 2025-11-06

Inst Owners21.69%

Inst Owner ChangeN/A

Ins Owners0.33%

Ins Owner ChangeN/A

Market Cap3.53B

Analysts84

Price Target34.68 (106.43%)

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)-1.16%

PT rev (3m)-24.78%

EPS NQ rev (1m)0%

EPS NQ rev (3m)-228.57%

EPS NY rev (1m)0%

EPS NY rev (3m)0%

Revenue NQ rev (1m)-6.91%

Revenue NQ rev (3m)-18.42%

Revenue NY rev (1m)-11.54%

Revenue NY rev (3m)-11.54%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	10.22
P/S	0.73
P/FCF	N/A
P/OCF	14.83
P/B	1.4
P/tB	4.88
EV/EBITDA	8.34

EPS(TTM)-4.32

EYN/A

EPS(NY)1.64

Fwd EY9.78%

FCF(TTM)-0.2

FCFYN/A

OCF(TTM)1.13

OCFY6.74%

SpS23

BVpS12

TBVpS3.45

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-17.08%
ROE	-37.98%
ROCE	7.12%
ROIC	5.48%
ROICexc	5.66%
ROICexgc	9.22%
OM	7.08%
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)3.66%

ROIC(5y)N/A

ROICexc(3y)3.92%

ROICexc(5y)N/A

ROICexgc(3y)7.01%

ROICexgc(5y)N/A

ROCE(3y)4.75%

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5Y30.35%

ROICexc growth 3YN/A

ROICexc growth 5Y39.62%

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-Score5

Asset Turnover0.86

Health

		Industry Rank	Sector Rank
Debt/Equity	0.71
Debt/FCF	N/A
Debt/EBITDA	2.84
Cap/Depr	97.39%
Cap/Sales	5.78%
Interest Coverage	2.35
Cash Conversion	37.85%
Profit Quality	N/A
Current Ratio	2.41
Quick Ratio	0.96
Altman-Z	2.05

F-Score5

WACC8.75%

ROIC/WACC0.63

Cap/Depr(3y)141.66%

Cap/Depr(5y)126.69%

Cap/Sales(3y)9.53%

Cap/Sales(5y)8.9%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-174.47%

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)-5.91%

Revenue growth 3Y11.13%

Revenue growth 5Y7.32%

Sales Q2Q%-16.11%

Revenue Next Year-6.9%

Revenue Next 2Y3.99%

Revenue Next 3Y10.03%

Revenue Next 5YN/A

EBIT growth 1Y64.09%

EBIT growth 3YN/A

EBIT growth 5Y49.64%

EBIT Next Year78.55%

EBIT Next 3Y50.89%

EBIT Next 5YN/A

FCF growth 1Y92.12%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y188.9%

OCF growth 3YN/A

OCF growth 5Y-7.73%

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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