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General information

Country: UNITED STATES

Sector: Aerospace and Defense

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company`s Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components. 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 flight surfaces of commercial aircraft, as well as for avionics and navigation systems, subcomponents, and other instruments utilized on military aircraft. Its 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 interference shielding; high-speed interface products; high voltage interconnection devices; high voltage advanced power electronics; power conversion products; and underwater locator beacons and emergency locator transmission beacons...
Website: heico.com



Growth: Good revenue growth rate 20.8%, there is acceleration compared to average historical growth rates 14.3%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is positive, +25.9%. On average the margin is improving unsteadily. Gross margin is normal, +38.8%. In the last quarter the company beat the estimated EPS, +7.0%. The company was ahead of estimated EPS in 60% of quarters (showing a gain of +$0.02 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 0.1%. Free cash flow yield -1.2% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 64.1% higher than minimum and 0.0% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 3.6x by EV / Sales multiple , the company can be 70.6% overvalued

Insiders: For the last 3 months insiders sold company shares on $0.1 mln (-0.000% of cap.)

Key Financials (Download financials)

Ticker: HEI-A
Share price, USD:  (+0.5%)168.89
year average price 140.72  


year start price 135.47 2023-05-07

min close price 121.85 2023-05-31

max close price 168.89 2024-05-03

current price 168.89 2024-05-06
Common stocks: 149 391 014

Dividend Yield:  0.1%
FCF Yield LTM: -1.2%
EV / LTM EBITDA: 47.0x
EV / EBITDA annualized: 44.3x
Last revenue growth (y/y):  20.8%
Last growth of EBITDA (y/y):  23.9%
Historical revenue growth:  14.3%
Historical growth of EBITDA:  15.8%
EV / Sales: 12.2x
Margin (EBITDA LTM / Revenue): 25.9%
Fundamental value created in LTM:
Market Cap ($m): 25 231
Net Debt ($m): 454
EV (Enterprise Value): 25 685
Price to Book: 7.7x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-01-31 2023-10-31 2023-07-31 2023-04-30 2023-01-31 2022-10-31
symbol HEI-A HEI-A HEI-A HEI-A HEI-A HEI-A
reportedCurrency USD USD USD USD USD USD
cik 46 619 46 619 46 619 46 619 46 619 46 619
fillingDate 2024-02-28 2023-12-20 2023-08-30 2023-05-24 2023-03-01 2022-12-21
acceptedDate 2024-02-28 16:50:41 2023-12-20 16:41:51 2023-08-30 16:25:01 2023-05-24 16:03:18 2023-03-01 15:26:04 2022-12-21 16:11:10
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4
revenue 896M 936M 723M 688M 621M 610M
costOfRevenue 524M 572M 444M 421M 377M 369M
grossProfit 372M 364M 279M 267M 244M 240M
grossProfitRatio 0.415 0.389 0.386 0.387 0.393 0.394
researchAndDevelopmentExpenses 25M 27M 25M 0 0 0
generalAndAdministrativeExpenses 0 0 0 0 0 0
sellingAndMarketingExpenses 0 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 165M 175M 129M 109M 114M 94M
otherExpenses 679 000 1M 906 000 343 000 639 000 0
operatingExpenses 190M 175M 129M 109M 114M 94M
costAndExpenses 715M 747M 574M 531M 491M 463M
interestIncome 0 43M 12M 0 0 0
interestExpense 39M 43M 12M 11M 6M 3M
depreciationAndAmortization 44M 44M 30M 30M 28M 26M
ebitda 225M 234M 180M 187M 157M 172M
ebitdaratio 0.251 0.250 0.249 0.272 0.253 0.282
operatingIncome 182M 189M 149M 157M 129M 146M
operatingIncomeRatio 0.203 0.202 0.207 0.228 0.208 0.240
totalOtherIncomeExpensesNet -39M 1M 906 000 -11M -5M -3M
incomeBeforeTax 142M 147M 138M 146M 124M 143M
incomeBeforeTaxRatio 0.159 0.157 0.191 0.212 0.200 0.235
incomeTaxExpense 17M 34M 25M 31M 21M 33M
netIncome 115M 103M 102M 105M 93M 97M
netIncomeRatio 0.128 0.110 0.141 0.153 0.150 0.159
eps 0.830 0.750 0.740 0.770 0.680 0.710
epsdiluted 0.820 0.740 0.740 0.760 0.670 0.700
weightedAverageShsOut 138M 138M 139M 137M 137M 137M
weightedAverageShsOutDil 140M 140M 139M 139M 139M 138M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-01-31 2023-10-31 2023-07-31 2023-04-30 2023-01-31 2022-10-31
symbol HEI-A HEI-A HEI-A HEI-A HEI-A HEI-A
reportedCurrency USD USD USD USD USD USD
cik 46 619 46 619 46 619 46 619 46 619 46 619
fillingDate 2024-02-28 2023-12-20 2023-08-30 2023-05-24 2023-03-01 2022-12-21
acceptedDate 2024-02-28 16:50:41 2023-12-20 16:41:51 2023-08-30 16:25:01 2023-05-24 16:03:18 2023-03-01 15:26:04 2022-12-21 16:11:10
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4
cashAndCashEquivalents 196M 171M 694M 127M 143M 140M
shortTermInvestments 0 0 0 0 0 0
cashAndShortTermInvestments 196M 171M 694M 127M 143M 140M
netReceivables 581M 621M 458M 465M 427M 389M
inventory 1 069M 1 014M 732M 722M 697M 582M
otherCurrentAssets 67M 50M 47M 53M 51M 42M
totalCurrentAssets 1 912M 1 855M 1 932M 1 367M 1 319M 1 153M
propertyPlantEquipmentNet 328M 322M 285M 274M 274M 226M
goodwill 3 290M 3 274M 2 026M 2 031M 1 994M 1 672M
intangibleAssets 1 366M 1 357M 823M 844M 874M 733M
goodwillAndIntangibleAssets 4 656M 4 632M 2 849M 2 876M 2 868M 2 406M
longTermInvestments -128M -132M -83M -94M 0 0
taxAssets 128M 132M 83M 94M 113M 0
otherNonCurrentAssets 440M 386M 388M 354M 230M 311M
totalNonCurrentAssets 5 424M 5 340M 3 521M 3 504M 3 486M 2 943M
otherAssets 0 0 0 0 0 0
totalAssets 7 336M 7 195M 5 453M 4 870M 4 805M 4 095M
accountPayables 195M 206M 140M 148M 135M 117M
shortTermDebt 5M 18M 17M 19M 2M 2M
taxPayables 23M 190M 7M 4M 26M 12M
deferredRevenue 96M 88M -140M -148M 59M 59M
otherCurrentLiabilities 308M 354M 462M 448M 258M 244M
totalCurrentLiabilities 604M 665M 479M 467M 453M 421M
longTermDebt 2 496M 2 460M 1 198M 736M 781M 289M
deferredRevenueNonCurrent 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 128M 132M 83M 94M 113M 71M
otherNonCurrentLiabilities 426M 380M 389M 368M 372M 522M
totalNonCurrentLiabilities 3 049M 2 972M 1 671M 1 198M 1 267M 699M
otherLiabilities 0 0 0 0 0 0
capitalLeaseObligations 29M 21M 0 0 15M 15M
totalLiabilities 3 654M 3 637M 2 150M 1 665M 1 720M 1 120M
preferredStock 0 0 45M 119M 0 0
commonStock 1M 1M 547 000 1M 1M 1M
retainedEarnings 2 705M 2 606M 2 523M 2 435M 2 329M 2 254M
accumulatedOtherComprehensiveIncomeLoss -26M -40M -17M -18M -19M -46M
othertotalStockholdersEquity 586M 626M 407M 322M 434M 440M
totalStockholdersEquity 3 266M 3 193M 2 959M 2 860M 2 744M 2 648M
totalEquity 3 683M 3 558M 3 303M 3 206M 2 744M 2 648M
totalLiabilitiesAndStockholdersEquity 7 336M 7 195M 5 453M 4 870M 4 805M 4 095M
minorityInterest 416M 365M 344M 346M 340M 328M
totalLiabilitiesAndTotalEquity 7 336M 7 195M 5 453M 4 870M 4 805M 4 095M
totalInvestments -128M -132M -83M -94M 0 0
totalDebt 2 500M 2 478M 1 215M 755M 783M 290M
netDebt 2 304M 2 307M 521M 627M 640M 151M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2024-01-31 2023-10-31 2023-07-31 2023-04-30 2023-01-31 2022-10-31
symbol HEI-A HEI-A HEI-A HEI-A HEI-A HEI-A
reportedCurrency USD USD USD USD USD USD
cik 46 619 46 619 46 619 46 619 46 619 46 619
fillingDate 2024-02-28 2023-12-20 2023-08-30 2023-05-24 2023-03-01 2022-12-21
acceptedDate 2024-02-28 16:50:41 2023-12-20 16:41:51 2023-08-30 16:25:01 2023-05-24 16:03:18 2023-03-01 15:26:04 2022-12-21 16:11:10
calendarYear 2024.000 2023.000 2023.000 2023.000 2023.000 2022.000
period Q1 Q4 Q3 Q2 Q1 Q4
netIncome 115M 114M 113M 115M 103M 110M
depreciationAndAmortization 44M 44M 30M 30M 27M 26M
deferredIncomeTax -4M -4M -13M -11M 980 000 1M
stockBasedCompensation 5M 5M 4M 3M 3M 3M
changeInWorkingCapital -59M -31M -292 000 -53M -62M 7M
accountsReceivables 44M -50M 6M -14M -7M -11M
inventory -50M -38M -11M -23M -52M -28M
accountsPayables -12M 13M -8M 9M -2M 7M
otherWorkingCapital -41M 44M 14M -25M -1M 39M
otherNonCashItems 11M 21M 13M -6M 5M -3M
netCashProvidedByOperatingActivities 112M 148M 146M 78M 77M 144M
investmentsInPropertyPlantAndEquipment -13M -15M -12M -11M -11M -8M
acquisitionsNet -48M -1 895M -2M -20M -504M -172M
purchasesOfInvestments -13M -5M 0 0 4M 12M
salesMaturitiesOfInvestments 0 5M 0 0 0 0
otherInvestingActivites 1M 66 000 327 000 -2M -15M -5M
netCashUsedForInvestingActivites -73M -1 910M -14M -34M -526M -172M
debtRepayment -21M -150M -731M -70M -38M -55M
commonStockIssued 2M 1M 1M 0 0 0
commonStockRepurchased -601 000 15M -36 000 0 0 0
dividendsPaid -14M 0 -14M 0 -14M 0
otherFinancingActivites 19M 1 376M 1 179M 10M 501M 91M
netCashUsedProvidedByFinancingActivities -15M 1 241M 435M -60M 449M 36M
effectOfForexChangesOnCash 1M -2M 264 000 1M 3M -2M
netChangeInCash 25M -523M 567M -15M 3M 6M
cashAtEndOfPeriod 196M 171M 694M 127M 143M 140M
cashAtBeginningOfPeriod 171M 694M 127M 143M 140M 134M
operatingCashFlow 112M 148M 146M 78M 77M 144M
capitalExpenditure -13M -15M -12M -11M -11M -8M
freeCashFlow 98M 133M 134M 67M 66M 136M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

SEC forms

Show financial reports only

SEC form 10
2024-02-28 00:00 ET
HEICO Corporation published news for 2023 q4
SEC form 10
2023-12-20 00:00 ET
HEICO Corporation reported for 2023 q3
SEC form 10
2023-08-30 00:00 ET
HEICO Corporation reported for 2023 q2
SEC form 8
2023-08-28 00:00 ET
HEICO Corporation reported for 2023 q2
SEC form 10
2023-05-24 00:00 ET
HEICO Corporation reported for 2023 q1
SEC form 8
2023-05-22 00:00 ET
HEICO Corporation reported for 2023 q1
SEC form 6
2023-04-12 17:28 ET
HEICO Corporation published news for 2023 q1
SEC form 6
2023-03-20 16:43 ET
HEICO Corporation published news for 2022 q4
SEC form 10
2023-03-01 15:26 ET
HEICO Corporation reported for 2022 q4
SEC form 10
2023-03-01 00:00 ET
HEICO Corporation reported for 2022 q4
SEC form 6
2023-02-27 17:09 ET
HEICO Corporation reported for 2022 q4
SEC form 8
2023-02-27 00:00 ET
HEICO Corporation reported for 2022 q4
SEC form 6
2023-02-03 07:47 ET
HEICO Corporation published news for 2022 q4
SEC form 6
2022-12-21 16:24 ET
HEICO Corporation published news for 2022 q3
SEC form 10
2022-12-21 16:11 ET
HEICO Corporation reported for 2022 q3
SEC form 10
2022-12-21 00:00 ET
HEICO Corporation reported for 2022 q3
SEC form 6
2022-12-19 16:42 ET
HEICO Corporation reported for 2022 q3
SEC form 8
2022-12-19 00:00 ET
HEICO Corporation reported for 2022 q3
SEC form 10
2022-08-31 15:16 ET
HEICO Corporation reported for 2022 q2
SEC form 10
2022-08-31 00:00 ET
HEICO Corporation reported for 2022 q2
SEC form 6
2022-08-29 17:19 ET
HEICO Corporation published news for 2022 q2
SEC form 8
2022-08-29 00:00 ET
HEICO Corporation reported for 2022 q2
SEC form 6
2022-08-09 10:59 ET
HEICO Corporation published news for 2022 q2
SEC form 6
2022-07-29 14:45 ET
HEICO Corporation published news for 2022 q2
SEC form 10
2022-05-25 16:21 ET
HEICO Corporation reported for 2022 q1
SEC form 10
2022-05-25 00:00 ET
HEICO Corporation reported for 2022 q1
SEC form 6
2022-05-23 17:18 ET
HEICO Corporation published news for 2022 q1
SEC form 8
2022-05-23 00:00 ET
HEICO Corporation reported for 2022 q1
SEC form 6
2022-04-12 14:46 ET
HEICO Corporation published news for 2022 q1
SEC form 6
2022-03-21 16:32 ET
HEICO Corporation published news for 2021 q4
SEC form 10
2022-02-25 15:35 ET
HEICO Corporation published news for 2021 q4
SEC form 10
2022-02-25 00:00 ET
HEICO Corporation published news for 2021 q4
SEC form 6
2022-02-23 17:04 ET
HEICO Corporation published news for 2021 q4
SEC form 8
2022-02-23 00:00 ET
HEICO Corporation published news for 2021 q4
SEC form 6
2022-02-04 14:14 ET
HEICO Corporation published news for 2021 q4
SEC form 10
2021-12-21 16:06 ET
HEICO Corporation published news for 2021 q3
SEC form 10
2021-12-21 00:00 ET
HEICO Corporation published news for 2021 q3
SEC form 6
2021-12-15 16:49 ET
HEICO Corporation published news for 2021 q3
SEC form 8
2021-12-15 00:00 ET
HEICO Corporation published news for 2021 q3
SEC form 10
2021-08-26 16:04 ET
HEICO Corporation published news for 2021 q2
SEC form 10
2021-08-26 00:00 ET
HEICO Corporation published news for 2021 q2
SEC form 6
2021-08-24 16:55 ET
HEICO Corporation published news for 2021 q2
SEC form 8
2021-08-24 00:00 ET
HEICO Corporation published news for 2021 q2
SEC form 10
2021-05-27 14:38 ET
HEICO Corporation published news for 2021 q1
SEC form 10
2021-05-27 00:00 ET
HEICO Corporation published news for 2021 q1
SEC form 6
2021-05-25 17:19 ET
HEICO Corporation published news for 2021 q1
SEC form 8
2021-05-25 00:00 ET
HEICO Corporation published news for 2021 q1
SEC form 6
2021-03-24 16:41 ET
HEICO Corporation published news for 2020 q4
SEC form 6
2021-03-23 14:53 ET
HEICO Corporation published news for 2020 q4
SEC form 10
2021-02-25 15:21 ET
HEICO Corporation published news for 2020 q4
SEC form 6
2021-02-23 17:23 ET
HEICO Corporation published news for 2020 q4
SEC form 6
2021-02-05 17:00 ET
HEICO Corporation published news for 2020 q4
SEC form 10
2020-12-23 15:22 ET
HEICO Corporation published news for 2020 q3
SEC form 6
2020-12-21 17:16 ET
HEICO Corporation published news for 2020 q3
SEC form 6
2020-12-14 17:13 ET
HEICO Corporation published news for 2020 q3