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Earnings transcript
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HEI
HEICO Corporation
$326.42
2.92
(0.9%)
| Exchange: | NYSE |
| Market Cap: | 45.477B |
| Shares Outstanding: | 74.527M |
Delayed data
About The Company
| Sector: | Industrials | |||||
| Industry: | Aerospace & Defense | |||||
| CEO: | Eric A. Mendelson | |||||
| Full Time Employees: | 10000 | |||||
| Address: |
| |||||
| Website: | https://www.heico.com |
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.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 2,968,105 | 3,857,669 | 4,485,044 |
| Gross Profit | 1,249,261 | 1,612,991 | 1,786,464 |
| EBITDA | 756,767 | 1,000,599 | 1,219,507 |
| Operating Income | 647,592 | 834,294 | 1,018,998 |
| Net Income | 403,596 | 514,109 | 690,385 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 7,195,063 | 7,592,822 | 8,500,433.999 |
| Total Liabilities | 4,001,912 | 3,895,416 | 3,653,901 |
| Total Stockholders Equity | 3,145,995 | 3,636,877 | 4,379,175 |
| Total Debt | 2,498,581 | 2,252,796 | 2,167,945 |
| Cash and Cash Equivalents | 171,048 | 162,103 | 217,781 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 448,735 | 672,370 | 934,266 |
| Capital Expenditure | -49,434 | -58,261 | -72,886 |
| Free Cash Flow | 399,301 | 614,109 | 861,380 |
| Net Income | 444,383 | 559,086 | 745,554 |
| Net Change in Cash | 31,544 | -8,945 | 55,678 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 6,541,075.465 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 7,039,344.629 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 6,806,038.624 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 1,822,394.964 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 1,961,216.663 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 1,896,215.779 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 1,201,028.618 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 1,321,427.240 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 1,265,052.677 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,128,393.642 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,214,349.501 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,174,102.142 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 8.990 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 9.390 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 8.530 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 6 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Record Financial Performance: HEICO Corporation reported record financial results in Q4 2024, as highlighted in the earnings call transcript, with strong revenue and net income figures reflecting robust operational efficiency. Key metrics such as gross profit margin and net profit margin (TTM) indicate a solid profitability profile compared to industry benchmarks.
- Strong Free Cash Flow Generation: Analysis of cash flow statements shows consistent free cash flow (TTM), supported by positive net cash provided by operating activities. This financial flexibility enables reinvestment in growth initiatives and debt management.
- Strategic Acquisitions: The Q4 2024 earnings call emphasized successful acquisitions as a driver of growth, enhancing HEICO’s market position within the aerospace and electronics sectors (as per sectorName and industryName data).
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates HEI intrinsic value between $64.45 – $207.49 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about HEI valuation
Is HEICO Corporation (HEI) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for HEICO Corporation (HEI) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is HEI a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether HEI trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is HEI’s P/E ratio?
You can see HEI’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for HEI?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is HEI a good long-term investment?
Whether HEI fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
HEI
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Daily snapshot
0.9
Trading Metrics:
| Open: | 323.75 | Previous Close: | 323.5 | |
| Day Low: | 315 | Day High: | 330.57 | |
| Year Low: | 256.11 | Year High: | 361.69 | |
| Price Avg 50: | 292.26 | Price Avg 200: | 312.86 | |
| Volume: | 819960 | Average Volume: | 701342 |
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Login — it's freeHEI full analysis
Welcome to MARKETSNAP’s SWOT analysis for HEICO Corporation, or HEI as it’s known on the ticker. If you’re a long-term investor looking to build wealth, you’re in the right place as we dive deep into what makes this company tick, where it shines, and where it might face some turbulence. Let’s break it down with a comprehensive look at HEICO, a player in the aerospace and electronics space, and see if it’s got the potential to be a solid addition…
