HEICO CORP (HEI) Fundamental Analysis & Valuation

NYSE:HEI • US4228061093

290 USD
-16.84 (-5.49%)
At close: Mar 12, 2026
291 USD
+1 (+0.34%)
After Hours: 3/12/2026, 8:04:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This HEI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

7

Taking everything into account, HEI scores 7 out of 10 in our fundamental rating. HEI was compared to 78 industry peers in the Aerospace & Defense industry. While HEI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. HEI shows excellent growth, but is valued quite expensive already. This makes HEI very considerable for growth investing!


Dividend Valuation Growth Profitability Health

8

1. HEI Profitability Analysis

1.1 Basic Checks

  • HEI had positive earnings in the past year.
  • In the past year HEI had a positive cash flow from operations.
  • Each year in the past 5 years HEI has been profitable.
  • Each year in the past 5 years HEI had a positive operating cash flow.
HEI Yearly Net Income VS EBIT VS OCF VS FCFHEI 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 2025 200M 400M 600M 800M 1B

1.2 Ratios

  • With an excellent Return On Assets value of 7.88%, HEI belongs to the best of the industry, outperforming 82.05% of the companies in the same industry.
  • HEI has a Return On Equity of 15.83%. This is in the better half of the industry: HEI outperforms 78.21% of its industry peers.
  • With a decent Return On Invested Capital value of 10.60%, HEI is doing good in the industry, outperforming 79.49% of the companies in the same industry.
  • HEI had an Average Return On Invested Capital over the past 3 years of 9.64%. This is in line with the industry average of 9.32%.
  • The last Return On Invested Capital (10.60%) for HEI is above the 3 year average (9.64%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 7.88%
ROE 15.83%
ROIC 10.6%
ROA(3y)6.83%
ROA(5y)7.56%
ROE(3y)14.33%
ROE(5y)13.99%
ROIC(3y)9.64%
ROIC(5y)10.07%
HEI Yearly ROA, ROE, ROICHEI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

1.3 Margins

  • The Profit Margin of HEI (15.38%) is better than 89.74% of its industry peers.
  • HEI's Profit Margin has declined in the last couple of years.
  • HEI has a Operating Margin of 22.71%. This is amongst the best in the industry. HEI outperforms 87.18% of its industry peers.
  • In the last couple of years the Operating Margin of HEI has grown nicely.
  • The Gross Margin of HEI (39.62%) is better than 76.92% of its industry peers.
  • HEI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 22.71%
PM (TTM) 15.38%
GM 39.62%
OM growth 3Y0.33%
OM growth 5Y1.51%
PM growth 3Y-1.13%
PM growth 5Y-2.61%
GM growth 3Y0.65%
GM growth 5Y0.86%
HEI Yearly Profit, Operating, Gross MarginsHEI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. HEI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HEI is creating some value.
  • HEI has more shares outstanding than it did 1 year ago.
  • HEI has more shares outstanding than it did 5 years ago.
  • HEI has a better debt/assets ratio than last year.
HEI Yearly Shares OutstandingHEI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M 100M
HEI Yearly Total Debt VS Total AssetsHEI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B

2.2 Solvency

  • HEI has an Altman-Z score of 7.05. This indicates that HEI is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of HEI (7.05) is better than 71.79% of its industry peers.
  • The Debt to FCF ratio of HEI is 2.98, which is a good value as it means it would take HEI, 2.98 years of fcf income to pay off all of its debts.
  • HEI has a better Debt to FCF ratio (2.98) than 83.33% of its industry peers.
  • HEI has a Debt/Equity ratio of 0.56. This is a neutral value indicating HEI is somewhat dependend on debt financing.
  • HEI has a Debt to Equity ratio of 0.56. This is comparable to the rest of the industry: HEI outperforms 42.31% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 2.98
Altman-Z 7.05
ROIC/WACC1.07
WACC9.9%
HEI Yearly LT Debt VS Equity VS FCFHEI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.3 Liquidity

  • HEI has a Current Ratio of 3.06. This indicates that HEI is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of HEI (3.06) is comparable to the rest of the industry.
  • HEI has a Quick Ratio of 1.41. This is a normal value and indicates that HEI is financially healthy and should not expect problems in meeting its short term obligations.
  • Looking at the Quick ratio, with a value of 1.41, HEI is in line with its industry, outperforming 44.87% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.06
Quick Ratio 1.41
HEI Yearly Current Assets VS Current LiabilitesHEI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. HEI Growth Analysis

3.1 Past

  • HEI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 25.37%, which is quite impressive.
  • Measured over the past years, HEI shows a quite strong growth in Earnings Per Share. The EPS has been growing by 16.50% on average per year.
  • HEI shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 16.08%.
  • The Revenue has been growing by 20.21% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)25.37%
EPS 3Y24.45%
EPS 5Y16.5%
EPS Q2Q%12.5%
Revenue 1Y (TTM)16.08%
Revenue growth 3Y26.64%
Revenue growth 5Y20.21%
Sales Q2Q%14.4%

3.2 Future

  • Based on estimates for the next years, HEI will show a quite strong growth in Earnings Per Share. The EPS will grow by 18.60% on average per year.
  • The Revenue is expected to grow by 10.46% on average over the next years. This is quite good.
EPS Next Y15.04%
EPS Next 2Y13.86%
EPS Next 3Y13.58%
EPS Next 5Y18.6%
Revenue Next Year12.96%
Revenue Next 2Y9.02%
Revenue Next 3Y7.93%
Revenue Next 5Y10.46%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
HEI Yearly Revenue VS EstimatesHEI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B
HEI Yearly EPS VS EstimatesHEI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2 4 6 8 10

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3

4. HEI Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 57.31, the valuation of HEI can be described as expensive.
  • Compared to the rest of the industry, the Price/Earnings ratio of HEI is on the same level as its industry peers.
  • The average S&P500 Price/Earnings ratio is at 25.71. HEI is valued rather expensively when compared to this.
  • Based on the Price/Forward Earnings ratio of 45.51, the valuation of HEI can be described as expensive.
  • HEI's Price/Forward Earnings ratio is in line with the industry average.
  • HEI is valuated expensively when we compare the Price/Forward Earnings ratio to 23.82, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 57.31
Fwd PE 45.51
HEI Price Earnings VS Forward Price EarningsHEI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60

4.2 Price Multiples

  • HEI's Enterprise Value to EBITDA ratio is in line with the industry average.
  • HEI's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. HEI is cheaper than 67.95% of the companies in the same industry.
Industry RankSector Rank
P/FCF 48.12
EV/EBITDA 34.08
HEI Per share dataHEI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • HEI has an outstanding profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as HEI's earnings are expected to grow with 13.58% in the coming years.
PEG (NY)3.81
PEG (5Y)3.47
EPS Next 2Y13.86%
EPS Next 3Y13.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. HEI Dividend Analysis

5.1 Amount

  • HEI has a yearly dividend return of 0.08%, which is pretty low.
  • Compared to an average industry Dividend Yield of 0.34, HEI pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, HEI's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.08%

5.2 History

  • On average, the dividend of HEI grows each year by 7.53%, which is quite nice.
  • HEI has been paying a dividend for at least 10 years, so it has a reliable track record.
  • As HEI did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)7.53%
Div Incr Years7
Div Non Decr Years7
HEI Yearly Dividends per shareHEI Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.05 0.1 0.15 0.2

5.3 Sustainability

  • HEI pays out 4.69% of its income as dividend. This is a sustainable payout ratio.
  • HEI's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP4.69%
EPS Next 2Y13.86%
EPS Next 3Y13.58%
HEI Yearly Income VS Free CF VS DividendHEI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
HEI Dividend Payout.HEI Dividend Payout, showing the Payout Ratio.HEI Dividend Payout.PayoutRetained Earnings

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HEI Fundamentals: All Metrics, Ratios and Statistics

HEICO CORP

NYSE:HEI (3/12/2026, 8:04:00 PM)

After market: 291 +1 (+0.34%)

290

-16.84 (-5.49%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryAerospace & Defense
Earnings (Last)02-27
Earnings (Next)05-25
Inst Owners75.38%
Inst Owner Change4.14%
Ins Owners22.62%
Ins Owner Change3.64%
Market Cap40.45B
Revenue(TTM)4.63B
Net Income(TTM)712.62M
Analysts78.46
Price Target379.94 (31.01%)
Short Float %4.85%
Short Ratio3.53
Dividend
Industry RankSector Rank
Dividend Yield 0.08%
Yearly Dividend0.23
Dividend Growth(5Y)7.53%
DP4.69%
Div Incr Years7
Div Non Decr Years7
Ex-Date01-05
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)3.69%
Min EPS beat(2)1.74%
Max EPS beat(2)5.63%
EPS beat(4)4
Avg EPS beat(4)6.15%
Min EPS beat(4)1.74%
Max EPS beat(4)9.81%
EPS beat(8)7
Avg EPS beat(8)7.74%
EPS beat(12)11
Avg EPS beat(12)7.09%
EPS beat(16)13
Avg EPS beat(16)4.51%
Revenue beat(2)1
Avg Revenue beat(2)-0.46%
Min Revenue beat(2)-0.96%
Max Revenue beat(2)0.03%
Revenue beat(4)3
Avg Revenue beat(4)0.8%
Min Revenue beat(4)-0.96%
Max Revenue beat(4)2.31%
Revenue beat(8)4
Avg Revenue beat(8)0.35%
Revenue beat(12)7
Avg Revenue beat(12)0.76%
Revenue beat(16)11
Avg Revenue beat(16)1%
PT rev (1m)0%
PT rev (3m)7.03%
EPS NQ rev (1m)0.9%
EPS NQ rev (3m)2.6%
EPS NY rev (1m)0.92%
EPS NY rev (3m)3.75%
Revenue NQ rev (1m)1.46%
Revenue NQ rev (3m)2.7%
Revenue NY rev (1m)1.01%
Revenue NY rev (3m)3.31%
Valuation
Industry RankSector Rank
PE 57.31
Fwd PE 45.51
P/S 8.73
P/FCF 48.12
P/OCF 44.46
P/B 8.98
P/tB N/A
EV/EBITDA 34.08
EPS(TTM)5.06
EY1.74%
EPS(NY)6.37
Fwd EY2.2%
FCF(TTM)6.03
FCFY2.08%
OCF(TTM)6.52
OCFY2.25%
SpS33.21
BVpS32.28
TBVpS-7.49
PEG (NY)3.81
PEG (5Y)3.47
Graham Number60.62
Profitability
Industry RankSector Rank
ROA 7.88%
ROE 15.83%
ROCE 12.78%
ROIC 10.6%
ROICexc 10.95%
ROICexgc 36.01%
OM 22.71%
PM (TTM) 15.38%
GM 39.62%
FCFM 18.15%
ROA(3y)6.83%
ROA(5y)7.56%
ROE(3y)14.33%
ROE(5y)13.99%
ROIC(3y)9.64%
ROIC(5y)10.07%
ROICexc(3y)9.9%
ROICexc(5y)10.38%
ROICexgc(3y)33.39%
ROICexgc(5y)33.47%
ROCE(3y)11.62%
ROCE(5y)12.13%
ROICexgc growth 3Y-0.02%
ROICexgc growth 5Y1.82%
ROICexc growth 3Y-0.9%
ROICexc growth 5Y1.04%
OM growth 3Y0.33%
OM growth 5Y1.51%
PM growth 3Y-1.13%
PM growth 5Y-2.61%
GM growth 3Y0.65%
GM growth 5Y0.86%
F-Score8
Asset Turnover0.51
Health
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF 2.98
Debt/EBITDA 2
Cap/Depr 34.38%
Cap/Sales 1.49%
Interest Coverage 250
Cash Conversion 72.61%
Profit Quality 117.99%
Current Ratio 3.06
Quick Ratio 1.41
Altman-Z 7.05
F-Score8
WACC9.9%
ROIC/WACC1.07
Cap/Depr(3y)36.14%
Cap/Depr(5y)36.1%
Cap/Sales(3y)1.6%
Cap/Sales(5y)1.64%
Profit Quality(3y)114.39%
Profit Quality(5y)120.24%
High Growth Momentum
Growth
EPS 1Y (TTM)25.37%
EPS 3Y24.45%
EPS 5Y16.5%
EPS Q2Q%12.5%
EPS Next Y15.04%
EPS Next 2Y13.86%
EPS Next 3Y13.58%
EPS Next 5Y18.6%
Revenue 1Y (TTM)16.08%
Revenue growth 3Y26.64%
Revenue growth 5Y20.21%
Sales Q2Q%14.4%
Revenue Next Year12.96%
Revenue Next 2Y9.02%
Revenue Next 3Y7.93%
Revenue Next 5Y10.46%
EBIT growth 1Y19.75%
EBIT growth 3Y27.05%
EBIT growth 5Y22.02%
EBIT Next Year35.42%
EBIT Next 3Y17.48%
EBIT Next 5Y19.29%
FCF growth 1Y94.74%
FCF growth 3Y25.49%
FCF growth 5Y17.4%
OCF growth 1Y88.1%
OCF growth 3Y25.93%
OCF growth 5Y17.96%

HEICO CORP / HEI FAQ

What is the ChartMill fundamental rating of HEICO CORP (HEI) stock?

ChartMill assigns a fundamental rating of 7 / 10 to HEI.


Can you provide the valuation status for HEICO CORP?

ChartMill assigns a valuation rating of 3 / 10 to HEICO CORP (HEI). This can be considered as Overvalued.


Can you provide the profitability details for HEICO CORP?

HEICO CORP (HEI) has a profitability rating of 8 / 10.


Can you provide the financial health for HEI stock?

The financial health rating of HEICO CORP (HEI) is 6 / 10.


What is the earnings growth outlook for HEICO CORP?

The Earnings per Share (EPS) of HEICO CORP (HEI) is expected to grow by 15.04% in the next year.