Stock HEI HEICO CORPORATION
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Financials HEICO Corporation

Equities

HEI

US4228061093

Aerospace & Defense

Market Closed - Nyse
Other stock markets
 04:00:02 2024-05-23 pm EDT 		5-day change 1st Jan Change
215.9 USD +0.06% Intraday chart for HEICO Corporation +0.63% +20.68%
10:04pm Heico's Recent Stock Strength Reflects Improving Margins, RBC Capital Markets Says MT
03:58pm RBC Raises Price Target on Heico to $235 From $225, Maintains Outperform Rating MT

Valuation

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 14,291 13,243 17,759 19,315 19,279 26,316 - -
Enterprise Value (EV) 1 14,796 13,576 17,887 19,465 21,586 28,166 27,534 26,846
P/E ratio 51.6 x 45.9 x 63.1 x 63.8 x 54.4 x 61.3 x 51.1 x 44.7 x
Yield 0.11% 0.15% 0.13% 0.11% 0.13% 0.1% 0.11% 0.12%
Capitalization / Revenue 6.95 x 7.41 x 9.52 x 8.75 x 6.5 x 6.76 x 6.26 x 5.89 x
EV / Revenue 7.2 x 7.6 x 9.59 x 8.81 x 7.27 x 7.24 x 6.55 x 6.01 x
EV / EBITDA 27.4 x 29.2 x 36.8 x 32.8 x 28.5 x 28.3 x 24.9 x 22.6 x
EV / FCF 36.2 x 35.2 x 43.9 x 44.7 x 54.1 x 50.1 x 40.3 x 34.4 x
FCF Yield 2.76% 2.84% 2.28% 2.24% 1.85% 2% 2.48% 2.91%
Price to Book 9.79 x 7.18 x 8.37 x 8.53 x 6.81 x 8.14 x 6.72 x 5.86 x
Nbr of stocks (in thousands) 134,153 134,943 135,384 136,592 138,187 138,364 - -
Reference price 2 123.3 105.0 139.4 162.6 158.4 215.7 215.7 215.7
Announcement Date 12/16/19 12/21/20 12/15/21 12/19/22 12/18/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,056 1,787 1,866 2,208 2,968 3,890 4,201 4,467
EBITDA 1 540.6 465.2 485.9 593.2 758.3 994.8 1,104 1,189
EBIT 1 457.1 376.6 392.9 496.8 625.3 823.7 924.8 1,007
Operating Margin 22.24% 21.08% 21.06% 22.5% 21.07% 21.17% 22.01% 22.54%
Earnings before Tax (EBT) 1 437.8 364.9 387.1 491 555.3 679 811.1 928.5
Net income 1 327.9 314 304.2 351.7 403.6 495.6 594.3 673.9
Net margin 15.95% 17.57% 16.31% 15.92% 13.6% 12.74% 14.15% 15.09%
EPS 2 2.390 2.290 2.210 2.550 2.910 3.518 4.218 4.827
Free Cash Flow 1 408.4 386.2 407.9 435.9 399.3 562.4 683.8 780.4
FCF margin 19.87% 21.61% 21.86% 19.74% 13.45% 14.46% 16.28% 17.47%
FCF Conversion (EBITDA) 75.55% 83.01% 83.94% 73.48% 52.66% 56.53% 61.93% 65.64%
FCF Conversion (Net income) 124.56% 123% 134.08% 123.94% 98.94% 113.48% 115.06% 115.8%
Dividend per Share 2 0.1400 0.1600 0.1800 0.1800 0.2000 0.2117 0.2333 0.2625
Announcement Date 12/16/19 12/21/20 12/15/21 12/19/22 12/18/23 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: October 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 509.4 490.3 538.8 569.5 609.6 620.9 687.8 722.9 936.4 896.4 951.9 997 1,046 974.1 1,029
EBITDA 1 139.2 122 146.3 152.7 172.3 156.5 186.8 178.9 234.2 224.4 238.5 258.9 273.4 247.8 271.2
EBIT 1 115 98.82 122.8 128.7 146.5 129.4 157.1 149.4 189.4 180.2 197.9 216.4 228.3 205.2 236.8
Operating Margin 22.58% 20.15% 22.79% 22.61% 24.03% 20.85% 22.84% 20.66% 20.23% 20.1% 20.8% 21.71% 21.83% 21.06% 23.01%
Earnings before Tax (EBT) 1 114.3 98.25 122.1 127.5 143.2 124 146.1 138.2 147.1 142.3 162 181.1 192.6 175.2 209
Net income 1 86.06 86.92 85.01 82.54 97.2 93.03 105.1 102 103.4 114.7 115.5 129.7 135.3 133.7 150.3
Net margin 16.89% 17.73% 15.78% 14.49% 15.94% 14.98% 15.28% 14.11% 11.04% 12.8% 12.14% 13.01% 12.94% 13.72% 14.61%
EPS 2 0.6200 0.6300 0.6200 0.6000 0.7000 0.6700 0.7600 0.7400 0.7400 0.8200 0.8182 0.9190 0.9669 0.9430 1.074
Dividend per Share 2 0.0100 0.0800 0.0900 0.0900 - 0.1000 0.1000 0.1000 - - - 0.1067 - 0.1200 -
Announcement Date 12/15/21 2/23/22 5/23/22 8/29/22 12/19/22 2/27/23 5/22/23 8/30/23 12/18/23 2/26/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: October 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 505 333 128 151 2,307 1,850 1,219 530
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.9341 x 0.7158 x 0.2638 x 0.2542 x 3.042 x 1.86 x 1.104 x 0.4456 x
Free Cash Flow 1 408 386 408 436 399 562 684 780
ROE (net income / shareholders' equity) 20.5% 16.9% 14.1% 14.2% 13.8% 13.9% 14.4% 13.9%
ROA (Net income/ Total Assets) 11.7% 9.64% 8.64% - 7.1% 7.62% 8.74% 8.93%
Assets 1 2,811 3,258 3,523 - 5,684 6,503 6,797 7,543
Book Value Per Share 2 12.60 14.60 16.70 19.10 23.30 26.50 32.10 36.80
Cash Flow per Share 2 3.180 2.980 3.220 3.390 3.230 4.640 5.580 6.440
Capex 1 28.9 22.9 36.2 32 49.4 60.8 61.8 65.3
Capex / Sales 1.41% 1.28% 1.94% 1.45% 1.67% 1.56% 1.47% 1.46%
Announcement Date 12/16/19 12/21/20 12/15/21 12/19/22 12/18/23 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for HEICO Corporation

Trading Rating
Investor Rating
ESG Refinitiv
C-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
17
Last Close Price
215.7 USD
Average target price
213.5 USD
Spread / Average Target
-1.03%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Other Aircraft Parts Manufacturing
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