HEICO Corporation
Rank #386Capital ReturnHEI-A · NYSE · Industrials
HEICO Corporation (HEI-A) — Rank #386 by gross profitability (GP/assets 0.18) · ROE 14.0% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0000046619 · all metrics point-in-time as of the filing date.
About
HEICO Corporation provides aerospace, defense, and electronic related products and services in the United States and internationally.
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Its Flight Support Group segment offers jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components and assemblies. This segment also distributes hydraulic, pneumatic, structural, interconnect, mechanical, and electro-mechanical components for the commercial, regional, and general aviation markets; and offers repair and overhaul services for jet engine and aircraft component parts, avionics, instruments, composites, and commercial aircraft surfaces, as well as for avionics and navigation systems, subcomponents, and other military aircraft instruments. The company's Electronic Technologies Group segment provides electro-optical infrared simulation and test equipment; electro-optical laser products; electro-optical, microwave, and other power equipment; electromagnetic and radio frequency (RF) interference shielding and suppression filters; power electronics; power conversion and interface products; interconnection devices; and underwater locator and emergency locator transmission beacons. This segment also offers traveling wave tube amplifiers and microwave power modules; memory products and specialty semiconductors; environment connectivity products and molded cable assemblies; RF and microwave products; communications and electronic intercept receivers and tuners; self-sealing auxiliary fuel systems; active antenna systems and airborne antennas; nuclear radiation detectors; power amplifiers; ceramic-to-metal feedthroughs and connectors; technical surveillance countermeasures equipment; RF receivers and sources; radiation assurance, embedded computing, and silicone solutions; test sockets and adapters; and electronic components and rotary joint assemblies.
The company was incorporated in 1957 and is headquartered in Hollywood, Florida.
- Industry
- Aerospace & Defense
- Sector
- Industrials
- State
- FL
- Filer Category
- Large accelerated filer
- Fiscal Year End
- October 31
- Website
- heico.com
Price History
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
$31.18B
P/E (annual)
45.5
P/S (annual)
7.0
P/B
6.3
P/OCF (annual)
33.4
Shareholder Yield
-0.3%
Employees
11,100
Industry
Aerospace & Defense
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 2/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
15.9%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 0.4% — per-share value needs a total required return of 16.3% once share-count change is priced in.
vs. own 6-year median revenue growth: 17.3%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
11.1%
r = 10% (base)
15.9%
r = 12%
20.0%
Net debt / market cap: -0.8%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.18
Primary signal (Novy-Marx).
38th pctl of 22 SIC 37 peers
Return on equity
14.0%
Gross margin
39.8%
86th pctl of 22 SIC 37 peers
Revenue growth (YoY)
16.3%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
26.6%
Revenue CAGR (5Y)
20.2%
Earnings CAGR (3Y)
25.2%
FCF CAGR (3Y)
25.5%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.85
70th pctl of 21 SIC 37 peers (best = lowest)
Current ratio
2.72×
71st pctl of 22 SIC 37 peers
Quick ratio
0.97×
Net cash
$237.45M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$861.38M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
0.25
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
—
Stock-based comp intensity.
Dividend safety
Composite score
4.2 / 5
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.