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Heico Corp (HEI) stock

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NYSE: HEI NYSE Aerospace & Defense Next results ~November 23, 2026

B+ Fundamentals grade

Heico Corp is a US-listed company in the aerospace & defense industry. Its financial year ends in October.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$280

Cash-flow model

Base case. Range ~$210–$370 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 20% above our base value.

Price used: $337.59, November 2, 2026

Heico Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders8 buying, 2 selling9 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds367 adding, 332 cuttingOf 83 active managers that changed their stake, 39 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Heico files

Where Heico stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $5.18bn, up 20.7% on a year earlier, faster than 18.8% a quarter earlier. That growth ranks 168 of 931 among all the companies we cover. Free-cash-flow margin rose to 19.9% from 18.2% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $292 a share, against a share price of $305. At that price, our model says the market is pricing in about 20.9% a year of cash-flow growth for five years, close to the 22.6% a year revenue growth it has delivered.

Source: 10-Q filed August 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 23, 2026 (estimated)

Heico Corp's trailing-twelve-month revenue grew 20.7% year on year, with a free-cash-flow margin of 19.9%. Where it stands out: free-cash-flow margin of 19.9% ranks 1 of 57 aerospace & defense companies we cover.

Our discounted-cash-flow model values the business at ~$280 per share in the base case (~$210–$370 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Several insiders buying shares: 8 insiders bought shares in the open market in the past 90 days, according to their Form 4 filings.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 20.7% over the last 12 months, against a median of 15.5% for aerospace & defense companies we cover.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • High earnings multiple. The shares trade at 56 times the last 12 months' earnings, so expectations are demanding.

Latest results: FY2026 Q3

Filed August 27, 2026
Earnings per share
$1.67 against an average estimate of $1.51: beat by 10.6%
Revenue
$1.41bn, up 23.1% on a year earlier
Share reaction
-1.8% in the first session after the results on August 25, 2026, against +0.3% for the S&P 500
Next report
August 25, 2026; average EPS estimate $1.64

Heico's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+5.1%
  • 1 week+9.0%
  • 1 month+11.6%
  • This year+4.4%
  • 1 year+6.3%
  • 5 years+143.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$5.2B
Operating margin
24.0%
Net margin
16.4%
EPS (TTM, diluted)
$6.01

Growth

Revenue growth
+20.7%
Change in growth rate
+1.9 pts
Share count change
+0.3%

Cash

Free cash flow (TTM)
$1B
FCF margin
19.9%

Earnings

Last results
August 25, 2026
Next results (est.)
November 23, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Results
  4. Financing
  5. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Heico Corp valuation models and calculator

What the price is pricing in

The share price implies about 21.7% a year of cash-flow growth for five years.That is close to the 22.6% a year revenue growth Heico has delivered.

  • Priced in21.7%
  • Last 12 months20.7%
  • 3 years a year25.1%
  • 5 years a year22.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($339.55, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$280
Price used
$339.55close November 3, 2026
Implied change
▼ 17%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Heico Corp's free cash flow after stock-based pay with after-tax interest added back ($1B, FY2026 Q3 TTM), growing 15.4% and 16.9% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$210–~$370 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Heico Corp's free cash flow after stock-based pay ( $1B, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Heico Corp as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.01 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$280 ~$210–$370 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$170 ~$140–$230 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$75 ~$52–$110 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$70 ~$60–$82 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$180 ~$70–$280 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Heico Corp with Aerospace & Defense in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +32%
  • Free-cash-flow margin 1 point lower ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▲ +9%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $87$124$173$237$321$430
8.5% $62$89$124$171$231$308
10% $48$68$96$131$177$235

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$34.13$57.40$83.06$122.38$104.38$138.68$162.02$158.00$244.57$317.54$337.59
Market value$4.5bn$7.8bn$11.4bn$16.8bn$14.3bn$19.1bn$22.4bn$21.9bn$34.3bn$44.7bn$47.6bn
+ Net debt (− = net cash)$406m$622m$473m$505m$333m$128m$151m$2.3bn$2.1bn$2.0bn$2.3bn
Enterprise value$5.0bn$8.4bn$11.8bn$17.3bn$14.7bn$19.2bn$22.5bn$24.3bn$36.4bn$46.7bn$49.9bn
Multiples
Price / sales 3.3x5.1x6.4x8.2x8.0x10.2x10.1x7.4x8.9x10.0x9.2x
Price / earnings 29.1x41.8x43.8x51.3x45.6x62.8x63.6x54.4x66.7x64.7x56.2x
Price / free cash flow 19.9x29.7x39.6x41.2x37.1x46.9x51.3x55.0x55.8x51.9x46.2x
EV / EBITDA 15.2x22.6x26.1x32.0x31.5x39.6x38.0x32.1x36.4x38.4x36.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

80 /100

Strong moat

How hard Heico's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 14 / 20

    Cash operating profit has been a median 11.0% of total assets over 10 years.

  • Pricing power 14 / 20

    Gross margin has been a median 39.0%, moving by 0.8 percentage points (standard deviation) across 10 years.

  • Durability 17 / 20

    Operating margin has been a median 21.8%; its worst year was 20.0%.

  • Cash conversion 19 / 20

    Free cash flow was positive in 10 of 10 years, at a median 18.7% of revenue.

  • Discipline 16 / 20

    The diluted share count rose 2.4% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.36 +30% $5.4bn +21%
Next $7.23 +14% $6.0bn +11%

Next year's EPS estimate has moved +4.3% in 90 days, across 20 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +4.1% on 90 days ago. In the last 30 days, 1 analyst raised Heico Corp's forecast and 0 cut it.

Consensus EPS forecast Heico Corp, last 90 days
$6.00 $6.50 $7.00 $7.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.11 Current fiscal year, 60 days ago: $6.34 Current fiscal year, 30 days ago: $6.34 Current fiscal year, 7 days ago: $6.36 Current fiscal year, Now: $6.36 $6.36 Next fiscal year, 90 days ago: $6.93 Next fiscal year, 60 days ago: $7.12 Next fiscal year, 30 days ago: $7.21 Next fiscal year, 7 days ago: $7.23 Next fiscal year, Now: $7.23 $7.23

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.11$6.93
60 days ago $6.34$7.12
30 days ago $6.34$7.21
7 days ago $6.36$7.23
Now $6.36$7.23

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $1.51 $1.67 +10.6%
Apr 2026 $1.34 $1.66 +24.2%
Jan 2026 $1.29 $1.35 +4.7%
Oct 2025 $1.22 $1.33 +9.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 25, 2026

No numeric guidance in Heico Corp's latest earnings release (filed August 25, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Heico Corp's revenue by +15.4% next year and +16.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+13.4%, weight 70%) and the company's own record (+20.0%, weight 30%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1458%
Hold1042%
Sell00%

Monthly trend

  1. Oct 20263111024
  2. Sep 20263111024
  3. Aug 2026311722
  4. Jul 2026311822

Counts of recommendations published by analysts covering Heico Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.6%
of tradable shares
Days to cover
1.77
at average volume
Short interest, 1 month
−75%
to October 15, 2026
Held by institutions
81%
of shares
Held by insiders
22.8%
of shares
Employees
11,100
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +6.3%

$317.54 on October 31, 2025 to $337.59

ThenNowEffect
Revenue (last 12 months) $4.3bn $5.2bn +20.7%
Net margin 15.0% 16.4% +9.4%
P/E multiple 69.6x 56.2x −19.2%
Share count 141m 141m −0.3%

Biggest factor: p/e multiple.

Last 3 years +108.9%

$161.58 on November 3, 2023 to $337.59

ThenNowEffect
Revenue (last 12 months) $2.6bn $5.2bn +96.0%
Net margin 15.0% 16.4% +8.8%
P/E multiple 56.3x 56.2x −0.3%
Share count 139m 141m −1.8%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
HEI+9%+7%+17%+33%+36%+4%
Industry peers (median)−6%−11%+13%+22%+16%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
HEI50%42%42%75%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
HEI−17%−19%−14%−15%−13%−27%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 58% from August 29, 2019 to March 18, 2020. Getting back needed a 137% gain, reached on June 4, 2021, 443 days after the low.

Price behaviour

52-week range
$260.89 – $374.67
From 52-week high
−9.9%
vs 50-day average
+8.2%
vs 200-day average
+5.8%
Volatility (1 year)
33%
Beta vs S&P 500
1.12

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±6.4%
After a week
7 up, 5 down
typical move ±6.8%
After a month
7 up, 5 down
typical move ±10.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 25, 2026 −1.8% +0.3% −7.8% −13.1%
May 27, 2026 +11.7% +0.5% +6.6% +11.8%
February 25, 2026 −10.7% +0.3% −8.7% −22.2%
December 18, 2025 +6.4% +1.7% +9.1% +13.4%
August 25, 2025 +7.3% 0.0% +2.0% +2.3%
May 27, 2025 +9.8% +1.5% +11.4% +19.9%
February 26, 2025 +13.7% −1.5% +17.9% +17.9%
December 17, 2024 −9.7% −3.4% −8.7% −8.6%
August 26, 2024 +0.3% −0.1% +0.4% +6.5%
May 28, 2024 −2.0% −0.6% +5.2% +4.4%
February 26, 2024 −2.8% −0.2% −2.5% −4.4%
December 18, 2023 +1.1% +1.2% −1.0% −3.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Heico Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: no liquid put with an effective price at or below fair value.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

HEI Heico Corp Grade B+ $335.54

Own 100 shares, sell the $350 call expiring December 18, 2026 (46 days) for $12.40 a share — $1,240 per contract.

Previous session · Bid $12.40, ask $14.40, quoted Mon 2 Nov, 17:25 New York time with HEI at $335.54. Option prices move with the shares: check the live chain at your broker before trading.

  • If HEI ends below $350: you keep your shares and the $1,240 — 3.7% extra on the position, 29.3% a year at that pace.
  • If it ends above $350: your shares are sold at $350, a total return of 8.0% including the premium — at or above our value of ~$280.
$2.7k $0 −$6.5k Our value $280 Break-even $323.14 Price $335.54
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$1,240
Annualised
29.3%
Break-even
$323.14
Max gain
$2,686.5
Chance of selling
~43%

Results are expected around November 23, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Heico Corp in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Heico Corp
$2B $3B $4B $5B $6B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3B Revenue (TTM), FY24 Q1: $3.2B Revenue (TTM), FY24 Q2: $3.5B Revenue (TTM), FY24 Q3: $3.8B Revenue (TTM), FY24 Q4: $3.9B Revenue (TTM), FY25 Q1: $4B Revenue (TTM), FY25 Q2: $4.1B Revenue (TTM), FY25 Q3: $4.3B Revenue (TTM), FY25 Q4: $4.5B Revenue (TTM), FY26 Q1: $4.6B Revenue (TTM), FY26 Q2: $4.9B Revenue (TTM), FY26 Q3: $5.2B $5.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3B
FY24 Q1 $3.2B
FY24 Q2 $3.5B
FY24 Q3 $3.8B
FY24 Q4 $3.9B
FY25 Q1 $4B
FY25 Q2 $4.1B
FY25 Q3 $4.3B
FY25 Q4 $4.5B
FY26 Q1 $4.6B
FY26 Q2 $4.9B
FY26 Q3 $5.2B
Revenue growth, TTM YoY Heico Corp
0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 34.4% Revenue growth, TTM YoY, FY24 Q1: 38.7% Revenue growth, TTM YoY, FY24 Q2: 41.1% Revenue growth, TTM YoY, FY24 Q3: 43.1% Revenue growth, TTM YoY, FY24 Q4: 30.0% Revenue growth, TTM YoY, FY25 Q1: 23.1% Revenue growth, TTM YoY, FY25 Q2: 17.7% Revenue growth, TTM YoY, FY25 Q3: 13.5% Revenue growth, TTM YoY, FY25 Q4: 16.3% Revenue growth, TTM YoY, FY26 Q1: 16.1% Revenue growth, TTM YoY, FY26 Q2: 18.8% Revenue growth, TTM YoY, FY26 Q3: 20.7% 20.7%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 34.4%
FY24 Q1 38.7%
FY24 Q2 41.1%
FY24 Q3 43.1%
FY24 Q4 30.0%
FY25 Q1 23.1%
FY25 Q2 17.7%
FY25 Q3 13.5%
FY25 Q4 16.3%
FY26 Q1 16.1%
FY26 Q2 18.8%
FY26 Q3 20.7%
Operating margin (TTM) Heico Corp
20% 21% 22% 23% 24% 25% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 21.1% Operating margin (TTM), FY24 Q1: 20.8% Operating margin (TTM), FY24 Q2: 20.7% Operating margin (TTM), FY24 Q3: 21.0% Operating margin (TTM), FY24 Q4: 21.4% Operating margin (TTM), FY25 Q1: 21.8% Operating margin (TTM), FY25 Q2: 22.0% Operating margin (TTM), FY25 Q3: 22.3% Operating margin (TTM), FY25 Q4: 22.7% Operating margin (TTM), FY26 Q1: 22.7% Operating margin (TTM), FY26 Q2: 23.5% Operating margin (TTM), FY26 Q3: 24.0% 24.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 21.1%
FY24 Q1 20.8%
FY24 Q2 20.7%
FY24 Q3 21.0%
FY24 Q4 21.4%
FY25 Q1 21.8%
FY25 Q2 22.0%
FY25 Q3 22.3%
FY25 Q4 22.7%
FY26 Q1 22.7%
FY26 Q2 23.5%
FY26 Q3 24.0%
FCF margin (TTM) Heico Corp
12% 14% 16% 18% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 13.5% FCF margin (TTM), FY24 Q1: 13.3% FCF margin (TTM), FY24 Q2: 14.0% FCF margin (TTM), FY24 Q3: 14.8% FCF margin (TTM), FY24 Q4: 15.9% FCF margin (TTM), FY25 Q1: 17.6% FCF margin (TTM), FY25 Q2: 18.4% FCF margin (TTM), FY25 Q3: 18.2% FCF margin (TTM), FY25 Q4: 19.2% FCF margin (TTM), FY26 Q1: 18.1% FCF margin (TTM), FY26 Q2: 18.9% FCF margin (TTM), FY26 Q3: 19.9% 19.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 13.5%
FY24 Q1 13.3%
FY24 Q2 14.0%
FY24 Q3 14.8%
FY24 Q4 15.9%
FY25 Q1 17.6%
FY25 Q2 18.4%
FY25 Q3 18.2%
FY25 Q4 19.2%
FY26 Q1 18.1%
FY26 Q2 18.9%
FY26 Q3 19.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Oct 2009 2010 Oct 2010 2011 Oct 2011 2012 Oct 2012 2013 Oct 2013 2014 Oct 2014 2015 Oct 2015 2016 Oct 2016 2017 Oct 2017 2018 Oct 2018 2019 Oct 2019 2020 Oct 2020 2021 Oct 2021 2022 Oct 2022 2023 Oct 2023 2024 Oct 2024 2025 Oct 2025 LTM Jul 2026
Income
Revenue 538 617 765 897 1,009 1,132 1,189 1,376 1,525 1,778 2,056 1,787 1,866 2,208 2,968 3,858 4,485 5,177
Gross profit 181 222 274 327 371 398 434 515 575 691 814 682 727 863 1,153 1,502 1,786 2,091
EBITDA 103 127 157 194 220 251 278 326 371 453 541 465 486 593 755 1,000 1,215 1,377
Operating income 88 109 138 163 184 203 230 265 307 376 457 377 393 497 625 824 1,019 1,245
Net income 45 55 73 85 102 121 133 156 186 259 328 314 304 352 404 514 690 848
Diluted EPS $0.54 $0.67 $0.88 $1.02 $1.53 $1.80 $1.57 $1.17 $1.37 $1.90 $2.39 $2.29 $2.21 $2.55 $2.91 $3.67 $4.90 $6.01
Growth (year on year)
Revenue −7.6% +14.6% +24.0% +17.3% +12.4% +12.2% +5.0% +15.8% +10.8% +16.6% +15.6% −13.1% +4.4% +18.4% +34.4% +30.0% +16.3% +20.7%
EBITDA −14.6% +22.8% +23.8% +23.6% +13.6% +14.0% +10.5% +17.3% +14.1% +22.1% +19.2% −13.9% +4.5% +22.1% +27.3% +32.4% +21.5% +27.9%
Operating income −16.6% +23.7% +26.8% +18.0% +12.4% +10.8% +12.9% +15.5% +15.6% +22.7% +21.5% −17.6% +4.3% +26.5% +25.9% +31.8% +23.6% +29.8%
Net income −8.0% +23.1% +32.5% +16.9% +20.3% +18.5% +10.0% +17.1% +19.1% +39.4% +26.5% −4.2% −3.1% +15.6% +14.8% +27.4% +34.3% +32.1%
Diluted EPS −6.7% +22.6% +32.2% +16.4% +49.4% +17.6% −12.8% −25.5% +17.1% +38.7% +25.8% −4.2% −3.5% +15.4% +14.1% +26.1% +33.5% +31.7%
Margins
Gross margin 33.6% 36.0% 35.9% 36.5% 36.8% 35.2% 36.5% 37.5% 37.7% 38.9% 39.6% 38.2% 39.0% 39.1% 38.9% 38.9% 39.8% 40.4%
EBITDA margin 19.2% 20.5% 20.5% 21.6% 21.8% 22.2% 23.4% 23.7% 24.4% 25.5% 26.3% 26.0% 26.0% 26.9% 25.4% 25.9% 27.1% 26.6%
Operating margin 16.4% 17.7% 18.1% 18.2% 18.2% 18.0% 19.3% 19.3% 20.1% 21.2% 22.2% 21.1% 21.1% 22.5% 21.1% 21.4% 22.7% 24.0%
Net margin 8.3% 8.9% 9.5% 9.5% 10.2% 10.7% 11.2% 11.3% 12.2% 14.6% 16.0% 17.6% 16.3% 15.9% 13.6% 13.3% 15.4% 16.4%
Free-cash-flow margin 12.2% 15.0% 15.2% 13.7% 11.3% 15.4% 13.0% 16.6% 17.2% 16.1% 19.9% 21.6% 21.9% 19.7% 13.5% 15.9% 19.2% 19.9%
Cash flow
Cash from operations 76 102 126 139 132 191 173 260 288 328 437 409 444 468 449 672 934 1,111
Capital spending 10 9 9 15 18 16 18 31 26 42 29 23 36 32 49 58 73 81
Free cash flow 66 93 116 123 114 174 155 229 262 287 408 386 408 436 399 614 861 1,030
Stock-based pay 0 1 3 4 — — — — 7 9 10 — — — — — — —
Free cash flow after stock pay 65 91 113 119 — — — — 255 277 398 — — — — — — —
Balance sheet
Cash 7 7 18 21 15 20 34 52 52 60 57 407 108 140 171 162 218 241
Total debt 55 14 40 132 378 329 368 458 674 532 562 740 236 290 2,478 2,229 2,168 2,541
Net debt (negative = net cash) 48 8 23 110 362 309 334 406 622 473 505 333 128 151 2,307 2,067 1,950 2,300
Diluted shares 82m 82m 83m 83m 84m 84m 85m 133m 136m 137m 137m 137m 138m 138m 139m 140m 141m 141m
Returned to shareholders
Dividends 3 4 4 6 120 31 9 11 13 15 19 22 23 24 27 29 32 35
Buybacks 8 0 0 — — — — — — — — — — — — — — —
Total returned 11 4 4 6 120 31 9 11 13 15 19 22 23 24 27 29 32 35

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · July 31, 2026
What it owns · $9.9bn
Short-term assets $2.7bnLonger-term assets $7.2bn
What it owes, and who funded it · $9.2bn
Short-term liabilities $1.0bnLonger-term liabilities $3.3bnShareholders' equity $4.9bn
  • Short-term assets cover short-term liabilities $2.7bn of assets due within a year against $1.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.7bn short-term assets against $3.3bn of longer-dated liabilities.
  • More cash than debt $241m of cash against $2.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 51% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 10% to 51% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.1bn of operating cash flow against $2.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.2bn against $132m of interest.

From Heico Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$34.9M
Returned to shareholders
3%
of free cash flow
Diluted share count
+0.3%
year over year
Total shareholder yield
0.1%
dividends 0.1% + buybacks 0.0% of market value
Dividend payout ratio
4%
of net income paid out
R&D spending
2.6%
of revenue
Sales & admin spending
16.4%
of revenue
Days sales outstanding
52 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in aerospace & defense
Last 12 months unless stated HEI ATI VVX MOG.A SARO WWD Median
Revenue, last 12 months $5.2bn $5.0bn $5.0bn $4.3bn $6.3bn $4.2bn $769m
Revenue growth, last 12 months 20.7% 9.4% 13.2% 15.7% 12.6% 22.3% 15.5%
Revenue growth, 3-year average 25.1% 6.8% 8.6% 10.3% — 14.7% 12.6%
Revenue growth, latest quarter 23.1% 26.5% 8.9% 15.2% 4.6% 21.2% 15.8%
Gross margin 40.4% 24.5% 8.5% 28.2% 15.0% 29.5% 27.8%
Operating margin 24.0% 16.5% 4.2% 13.3% 9.5% — 9.0%
Operating margin, 3-year average 22.5% 14.4% 4.0% 11.9% 8.4% — 6.0%
Net margin 16.4% 11.1% 2.0% 8.7% 5.1% 13.2% 5.5%
Cash from operations / revenue 21.5% 14.6% 3.4% 11.2% 4.6% 14.0% 5.5%
Free-cash-flow margin 19.9% 8.4% 3.2% 8.1% 3.5% 9.0% 3.4%
Free-cash-flow margin, 3-year average 17.6% 7.6% 3.0% 3.4% 1.9% 9.4% 3.0%
Stock pay / revenue 0.4% 0.6% 0.3% 0.5% 0.3% 0.8% 1.2%
Change in share count 0.3% −3.3% −1.8% −0.3% 4.5% 0.1% 3.9%

Median of all 57 companies we cover in aerospace & defense. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 aerospace & defense companies
Measure Company Peer median Rank
Revenue growth Growth 20.7% 15.5% 17 of 57
Change in growth rate Growth +1.9pp +2.2pp 31 of 57
Gross margin Profitability 40.4% 28.3% 14 of 46
Operating margin Profitability 24.0% 8.5% 4 of 51
Net margin Profitability 16.4% 5.5% 7 of 57
Free-cash-flow margin Cash generation 19.9% 3.4% 1 of 57
Long-term debt as % of assets Balance sheet 25.5% 22.1% 29 of 47
Change in share count Balance sheet 0.3% 2.4% 20 of 51
Days sales outstanding Balance sheet 52 days 53 days 21 of 45

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to October 31, 2025
Segments
Line of business Revenue Share YoY
Flight Support Group $3.1B 69.5% ▲ 18.1%
Electronic Technologies Group $1.4B 31.5% ▲ 11.8%
Corporate $0 0.0% —
Corporate and Eliminations -$45.4M -1.0% —
Geography
Region Revenue Share YoY
North America $2.8B 61.9% ▲ 14.7%
Outside the US $1.7B 38.1% ▲ 18.9%

From Heico Corp's 10-K filed December 22, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$15.4B
Institutions reporting
772
Shares held vs prior quarter
▲ 7.4%
Positions opened / closed
112 / 68

Top buyers and sellers, Q2 2026: 367 institutions bought and 332 sold ; the biggest buyer was Price T Rowe Associates Inc (+2.9M shares) and the biggest seller Capital World Investors (−696K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.4B 3.9M 9.1% ▼ 4.6%
Price T Rowe Associates Inc $1.1B 3.2M 7.4% ▲ 825.3%
Capital International Investors $1B 2.9M 6.7% ▲ 8.5%
Vanguard Portfolio Management LLC $798M 2.2M 5.2% ▲ 0.2%
State Street Corp $597M 1.7M 3.9% ▼ 3.5%
Capital World Investors $595M 1.7M 3.9% ▼ 29.4%
FMR LLC $516M 1.4M 3.4% ▼ 5.0%
Vanguard Capital Management LLC $495M 1.4M 3.2% ▲ 4.2%
UBS Group AG $488M 1.4M 3.2% ▲ 52.4%
Morgan Stanley $422M 1.2M 2.7% ▲ 15.8%
Geode Capital Management, LLC $276M 778K 1.8% ▼ 1.6%
Nuveen, LLC $256M 719K 1.7% ▼ 4.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Heico Corp's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $2.4M 9 trades by 8 insiders, last 12 months Insider sales History → $471,149 2 trades by 2 insiders · 0% under pre-set plans
Net ▲ $1.9M net buying
Insider Date Trade Shares Price Value
Cheruvatath Nandakumar Director October 8, 2026 Buy 795 $220.30 $175,142
Henriques Adolfo Director October 8, 2026 Buy 795 $220.30 $175,142
Schriesheim Alan Director October 8, 2026 Buy 795 $220.30 $175,142
Fine Carol F. Director October 8, 2026 Buy 795 $220.30 $175,142
Neitzel Julie Director October 8, 2026 Buy 592 $294.93 $174,601
Hildebrandt Mark H Director October 8, 2026 Buy 795 $220.30 $175,142
Culligan Thomas M Director October 8, 2026 Buy 795 $220.30 $175,142
Mendelson Victor H Co-COB and Co-CEO October 8, 2026 Buy 795 $220.30 $175,142
Rowen Bradley K Chief Accounting Officer June 10, 2026 Sell 1,326 $241.63 $320,401
Neitzel Julie Director April 15, 2026 Sell 676 $223.00 $150,748
Cheruvatath Nandakumar Director March 4, 2026 Buy 4,082 $244.95 $999,886

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 14 trades and filings

No trades in Heico Corp disclosed in the last 12 months; 14 earlier trades on record.

  • Val T. Hoyle(D-OR 4):Sale (full), $1,001 - $15,000, traded September 23, 2025, filed October 10, 2025
  • Jefferson Shreve(R-IN 6):Sale (partial), $15,001 - $50,000, traded April 17, 2025, filed May 8, 2025
  • Jefferson Shreve(R-IN 6):Purchase, $15,001 - $50,000, traded March 13, 2025, filed April 11, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 23, 2026 estimated from the company's past filing pattern, not announced

  • August 25, 2026
  • May 27, 2026
  • February 25, 2026
  • December 18, 2025
  • August 25, 2025
  • May 27, 2025

Recent SEC filings

Data status

When each part of this page on Heico Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Heico Corp in brief

What does Heico Corp do?
Heico Corp is a US-listed company in the aerospace & defense industry. Its financial year ends in October.
What is Heico Corp's stock ticker?
Heico Corp trades under the ticker HEI on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Heico Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Heico Corp reported revenue of $5.2B, 20.7% higher than a year earlier, according to its SEC filings.
What is Heico Corp's free cash flow?
Heico Corp's free-cash-flow margin is 19.9% of revenue over the trailing twelve months, ranking 1 of the 57 aerospace & defense companies we cover.
What is Heico Corp's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Heico Corp's free cash flow after stock-based pay gives ~$280 per share in the base case, and ~$210–$370 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Heico Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Price T Rowe Associates Inc and Capital International Investors. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Heico Corp's market cap?
On November 2, 2026, Heico Corp's market capitalisation was about $47.6B, with a price-to-earnings ratio of 56.2 and net debt of $2.3B. Market figures come from third-party market data and may be delayed.
Does Heico Corp pay a dividend?
Yes: Heico Corp paid $34.9M in dividends over the trailing twelve months, a dividend yield of 0.07% and a payout ratio of 4.1%.
How much debt does Heico Corp have?
Heico Corp's debt-to-equity ratio is 51.4%, from its latest balance sheet (10.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Heico Corp's competitors?
In our Aerospace & Defense peer group, the companies closest to Heico Corp are ATI Inc, V2x, Inc., Moog Inc., Standardaero, Inc. and Woodward, Inc. The side-by-side comparison below sets their revenue, margins and growth against Heico Corp's.
Are insiders buying or selling Heico Corp stock?
Over the last 12 months, Heico Corp's directors and officers reported 9 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Heico Corp's next earnings date?
Around November 23, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Heico Corp announces its own schedule.