A Business at a Glance
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PART I The Company HEICO Corporation through its subsidiaries (collectively, “HEICO,” “we,” “us,” “our” or the “Company”) believes it is the world’s largest manufacturer of Federal Aviation Administration (“FAA”)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (“OEMs”) and their subcontractors. HEICO also believes it is a leading manufacturer of various types of electronic equipment for the aviation, defense, space, medical, telecommunications and electronics industries. The Company was originally organized in 1957 as a holding company known as HEICO Corporation. As part of a reorganization completed in 1993, the original holding company (formerly known as HEICO Corporation) was renamed as HEICO Aerospace Corporation and a new holding corporation known as HEICO Corporation was created.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Aftermarket Replacement Parts | $535M | $695M | $1.04B | $1.66B | $1.92B | 42% |
Electronic Components for Defense, Space and Aerospace | $710M | $672M | $918M | $1.00B | $1.14B | 25% |
Repair and Overhaul Parts and Services | $208M | $265M | $367M | $593M | $749M | 17% |
Specialty Products | $184M | $295M | $363M | $388M | $446M | 10% |
Other Electronic Components | $250M | $300M | $307M | $259M | $271M | 6% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 4.6B | 4.5B | 3.9B | 3.0B | 2.2B | 1.9B |
| Net Income | 713M | 690M | 514M | 404M | 352M | 304M |
| EPS | $5.06 | $4.90 | $3.67 | $2.91 | $2.55 | $2.21 |
| Free Cash Flow | 841M | 861M | 614M | 399M | 436M | 408M |
| ROIC | 10.7% | 13.0% | 11.1% | 10.5% | 13.8% | 11.7% |
| Gross Margin | - | 39.8% | 38.9% | 38.9% | 39.1% | 39.0% |
| Debt/Equity | 0.85 | 0.76 | 0.93 | 1.22 | 0.25 | 0.24 |
| Dividends/Share | $0.24 | $0.23 | $0.21 | $0.20 | $0.18 | $0.17 |
| Operating Income | 1.1B | 1.0B | 824M | 625M | 497M | 393M |
| Operating Margin | 22.7% | 22.7% | 21.4% | 21.1% | 22.5% | 21.1% |
| ROE | 15.8% | 17.4% | 15.2% | 14.0% | 14.4% | 14.3% |
| Shares Outstanding | 141M | 141M | 140M | 139M | 138M | 138M |
HEICO CORP passes 3 of 9 quality checks, indicating weak fundamentals.
HEICO CORP trades at 58.2x trailing earnings, compared to its 15-year median P/E of 52.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 19.3x vs a median of 43.1x. The company's 5-year average ROIC is 12.0% with a gross margin of 39.1%. At current prices, the estimated annualized return to fair value is +32.8%.
HEICO CORP (HEI) has a current P/E ratio of 58.2, compared to its historical median P/E of 52.0. The stock is currently considered Fair based on its historical valuation range.
HEICO CORP (HEI) has a 5-year average return on invested capital (ROIC) of 12.0%. This indicates solid capital allocation.
HEICO CORP (HEI) has a market capitalization of $41.4B. It is classified as a large-cap stock.
Yes, HEICO CORP (HEI) pays a dividend with a trailing twelve-month yield of 0.08%.
Based on historical P/E analysis, HEICO CORP (HEI) appears fair. The current P/E of 58.2 is 12% above its historical median of 52.0. The estimated fair value CAGR (P/E method) is 11.4%.
HEICO CORP (HEI) operates in the Aircraft Engines & Engine Parts industry, within the Industrials sector.
HEICO CORP (HEI) reported annual revenue of $4.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
HEICO CORP (HEI) has a net profit margin of 15.4%. This is a healthy margin.
HEICO CORP (HEI) generated $861 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
HEICO CORP (HEI) has a debt-to-equity ratio of 0.76. This indicates moderate leverage.
HEICO CORP (HEI) reported earnings per share (EPS) of $4.90 in its most recent fiscal year.
HEICO CORP (HEI) has a return on equity (ROE) of 17.4%. This indicates the company generates strong returns for shareholders.
HEICO CORP (HEI) has a 5-year average gross margin of 39.1%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for HEICO CORP (HEI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
HEICO CORP (HEI) has a book value per share of $30.56, based on its most recent annual SEC filing.