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HEICO Corporation

HEI NYSE Categories PDF
Industrials · Aerospace & Defense
Hollywood, FL 33021, United States IPO 1980 heico.com Updated Jun 27, 1:34am
Price
$345.21
Market Cap
$48.1B
Employees
10,000
Beta
1.04
Avg Volume
687,614
CEO
Eric A. Mendelson
Business Description

HEICO Corporation operates as a global enterprise through its various subsidiaries, specializing in the design, manufacturing, and distribution of an extensive range of products and services tailored for the aerospace, defense, and electronics industries. The company's Flight Support Group (FSG) division is a principal supplier of essential replacement components for jet engines and aircraft. Its offerings include specialized thermal insulation products, such as blankets and reusable systems, along with a variety of bespoke parts. The FSG also serves as a distributor for a wide array of hydraulic, pneumatic, structural, interconnect, mechanical, and electro-mechanical components, primarily targeting the commercial, regional, and general aviation sectors. Additionally, this segment provides comprehensive repair and overhaul services, covering jet engine and aircraft parts, avionics, instruments, composites, and flight surfaces for commercial aircraft, as well as navigation systems and various instruments used in military planes. HEICO's Electronic Technologies Group (ETG) delivers a broad and sophisticated portfolio of electronic solutions. This encompasses electro-optical infrared simulation and testing equipment, laser products, and diverse power equipment spanning electro-optical and microwave technologies. The ETG is also proficient in developing electromagnetic and radio frequency interference (RFI) shielding, high-speed interface products, high-voltage interconnection devices, advanced high-voltage power electronics, and power conversion units. Critical safety items like underwater and emergency locator beacons are also produced by this group. Further innovative contributions from the ETG include traveling wave tube amplifiers, microwave power modules, cutting-edge three-dimensional microelectronic and stacked memory products, rugged connectivity solutions, custom-molded cable assemblies designed for harsh environments, and a range of radio frequency and microwave amplifiers, transmitters, and receivers. The segment additionally provides communication and electronic intercept receivers and tuners, self-sealing auxiliary fuel systems, active antenna systems, and nuclear radiation detectors. The company's diverse clientele primarily spans the aviation, defense, space, medical, telecommunications, and general electronics sectors. HEICO Corporation was established in 1957 and its main offices are situated in Hollywood, Florida.

Business History
Price History (1 Year)
Last updated: Jun 27, 2026 1:34am (8h ago)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 21, 2026 7:00pm (5d ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
69.46
Stock Price: $345.21
EPS (Diluted): 4.97
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
10.26
Stock Price: $345.21
Total Equity: $4.31B
Shares: 140,771,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
37.85
Market Cap: $48.09B
Total Debt: $2.17B
Cash: $217.78M
EBITDA: $1.22B
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$46.2B
Market Cap: $48.09B
Total Debt: $2.17B
Cash: $217.78M
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
39.8%
Gross Profit: $1.79B
Revenue: $4.49B
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
22.7%
Operating Income: $1.02B
Revenue: $4.49B
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
15.4%
Net Income: $690.39M
Revenue: $4.49B
ROE (Profit from shareholder equity)
CALC
Net Income / Total Equity
16.0%
Net Income: $690.39M
Total Equity: $4.31B
ROIC (Profit from all invested capital)
CALC
NOPAT / Invested Capital
13.6%
Operating Income: $1.02B
Tax Rate: 16.6%
Equity: $4.31B
Total Debt: $2.17B
Cash: $217.78M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.83
Current Assets: $2.36B
Current Liabilities: $832.00M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
0.50
Short-Term Debt: $3.36M
Long-Term Debt: $2.16B
Total Debt: $2.17B
Total Equity: $4.31B
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$31.86
Revenue: $4.49B
Shares: 140,771,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$30.58
Total Equity: $4.31B
Shares: 140,771,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$6.12
Operating CF: $934.27M
CapEx: -$72.89M
Shares: 140,771,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.1%
Last Dividend: N/A
Stock Price: $345.21
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
Dividends Paid: N/A
Net Income: $690.39M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares HEI against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:00pm (5d ago)
Metric 2021 2022 2023 2024 2025
Revenue $1.9B $2.2B $3.0B $3.9B $4.5B
Cost of Revenue $1.1B $1.3B $1.7B $2.2B $2.7B
Gross Profit $796.3M $938.8M $1.2B $1.6B $1.8B
Operating Expenses $401.4M $450.9M $601.7M $778.7M $767.5M
Operating Income $394.9M $487.9M $647.6M $834.3M $1.0B
Net Income $304.2M $351.7M $403.6M $514.1M $690.4M
EBITDA $486.2M $592.7M $756.8M $1.0B $1.2B
EPS $2.25 $2.59 $2.94 $3.71 $4.97
EPS (Diluted)
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:00pm (5d ago)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $108.3M $139.5M $171.0M $162.1M $217.8M
Total Current Assets $937.4M $1.2B $1.9B $2.1B $2.4B
Total Assets $3.5B $4.1B $7.2B $7.6B $8.5B
Current Liabilities $294.9M $420.9M $665.3M $663.9M $832.0M
Long-Term Debt $235.0M $288.6M $2.5B $2.2B $2.2B
Total Liabilities $948.9M $1.1B $4.0B $3.9B $4.1B
Total Equity $2.3B $2.6B $3.1B $3.6B $4.3B
Retained Earnings $1.9B $2.3B $2.6B $3.1B $3.6B
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:00pm (5d ago)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $444.1M $467.9M $448.7M $672.4M $934.3M
Capital Expenditure -$36.2M -$32.0M -$49.4M -$58.3M -$72.9M
Free Cash Flow $407.9M $435.9M $399.3M $614.1M $861.4M
Acquisitions (net) -$136.5M -$347.3M -$2.4B -$219.3M -$629.8M
Debt Repayment
Dividends Paid
Stock Buybacks -$3.8M -$25.9M -$14.8M -$29.9M -$22.4M
Net Change in Cash -$298.6M $31.2M $31.5M -$8.9M $55.7M
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 1:34am (8h ago)
Metric 2026 2027 2028 2029
Revenue $5.3B
$5.1B – $5.4B
$5.8B
$5.5B – $6.1B
$6.3B
$6.3B – $6.3B
$6.8B
$6.5B – $7.0B
EBITDA $1.5B
$1.4B – $1.5B
$1.6B
$1.5B – $1.7B
$1.8B
$1.7B – $1.8B
$1.9B
$1.8B – $2.0B
Net Income $849.3M
$797.4M – $897.8M
$947.2M
$888.3M – $1.1B
$1.1B
$980.8M – $1.2B
$1.3B
$1.2B – $1.3B
EPS
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:00pm (5d ago)
Metric 2022 2023 2024 2025
Revenue Growth +18.4% +34.4% +30.0% +16.3%
Gross Profit Growth +17.9% +33.1% +29.1% +10.8%
Operating Income Growth +23.6% +32.7% +28.8% +22.1%
Net Income Growth +15.6% +14.8% +27.4% +34.3%
EBITDA Growth +21.9% +27.7% +32.2% +21.9%
Dividend History (Last 20)
Last updated: Jun 21, 2026 7:00pm (5d ago)
Date Dividend Declaration Record Payment
2026-07-01 $0.13 2026-06-12 2026-07-01 2026-07-15
2025-07-01 $0.12 2025-06-11 2025-07-01 2025-07-15
2025-01-03 $0.11 2024-12-17 2025-01-03 2025-01-17
2024-07-01 $0.11 2024-06-20 2024-07-01 2024-07-15
2024-01-03 $0.10 2023-12-18 2024-01-04 2024-01-19
2023-06-30 $0.10 2023-06-12 2023-07-03 2023-07-17
2023-01-04 $0.10 2022-12-19 2023-01-05 2023-01-23
2022-06-30 $0.09 2022-06-20 2022-07-01 2022-07-15
2022-01-05 $0.09 2021-12-20 2022-01-06 2022-01-20
2021-06-30 $0.09 2021-06-08 2021-07-01 2021-07-15
2021-01-06 $0.08 2020-12-21 2021-01-07 2021-01-21
2020-06-30 $0.08 2020-06-09 2020-07-01 2020-07-15
2020-01-08 $0.08 2019-12-16 2020-01-09 2020-01-23
2019-06-28 $0.07 2019-06-12 2019-07-01 2019-07-15
2019-01-02 $0.07 2018-12-17 2019-01-03 2019-01-17
2018-07-10 $0.06 2018-06-12 2018-07-11 2018-07-19
2018-01-02 $0.09 2017-12-15 2018-01-03 2018-01-17
2017-06-30 $0.08 2017-06-13 2017-07-05 2017-07-19
2016-12-30 $0.09 2016-12-15 2017-01-04 2017-01-18
2016-06-30 $0.08 2016-06-06 2016-07-05 2016-07-19
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for HEI — it's generated by the pipeline (market-narrative step).
Community AI Feedback
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My Notes personal — only you see this
Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30