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HEICO

NYSE:HEI
Snowflake Description

Excellent balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
HEI
NYSE
$12B
Market Cap
  1. Home
  2. US
  3. Capital Goods
Company description

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The last earnings update was 52 days ago. More info.


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HEI Share Price and Events
7 Day Returns
-0.6%
NYSE:HEI
0.7%
US Aerospace & Defense
-0.3%
US Market
1 Year Returns
35.6%
NYSE:HEI
-7.7%
US Aerospace & Defense
7%
US Market
HEI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
HEICO (HEI) -0.6% 8.8% 24.6% 35.6% 224.5% 255.7%
US Aerospace & Defense 0.7% 4.4% 10.3% -7.7% 40.3% 58.5%
US Market -0.3% 2% 8.5% 7% 37.7% 46.8%
1 Year Return vs Industry and Market
  • HEI outperformed the Aerospace & Defense industry which returned -7.7% over the past year.
  • HEI outperformed the Market in United States of America which returned 7% over the past year.
Price Volatility
HEI
Industry
5yr Volatility vs Market

Value

 Is HEICO undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of HEICO to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for HEICO.

NYSE:HEI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:HEI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.916 (1 + (1- 21%) (5.04%))
0.968
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.968 * 5.96%)
8.5%

Discounted Cash Flow Calculation for NYSE:HEI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for HEICO is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:HEI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.5%)
2019 328.05 Analyst x8 302.35
2020 350.20 Analyst x8 297.48
2021 388.33 Analyst x3 304.02
2022 438.00 Analyst x1 316.04
2023 471.57 Est @ 7.66% 313.61
2024 500.74 Est @ 6.18% 306.91
2025 526.52 Est @ 5.15% 297.43
2026 549.80 Est @ 4.42% 286.25
2027 571.33 Est @ 3.91% 274.15
2028 591.66 Est @ 3.56% 261.67
Present value of next 10 years cash flows $2,959.90
NYSE:HEI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $591.66 × (1 + 2.73%) ÷ (8.5% – 2.73%)
$10,532.67
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $10,532.67 ÷ (1 + 8.5%)10
$4,658.13
NYSE:HEI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,959.90 + $4,658.13
$7,618.03
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,618.03 / 132.97
$57.29
NYSE:HEI Discount to Share Price
Calculation Result
Value per share (USD) From above. $57.29
Current discount Discount to share price of $100.00
= -1 x ($100.00 - $57.29) / $57.29
-74.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of HEICO is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for HEICO's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are HEICO's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:HEI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-31) in USD $2.06
NYSE:HEI Share Price ** NYSE (2019-04-18) in USD $100
United States of America Aerospace & Defense Industry PE Ratio Median Figure of 41 Publicly-Listed Aerospace & Defense Companies 22.19x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 18.18x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of HEICO.

NYSE:HEI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:HEI Share Price ÷ EPS (both in USD)

= 100 ÷ 2.06

48.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HEICO is overvalued based on earnings compared to the US Aerospace & Defense industry average.
  • HEICO is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does HEICO's expected growth come at a high price?
Raw Data
NYSE:HEI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 48.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
8.4%per year
United States of America Aerospace & Defense Industry PEG Ratio Median Figure of 34 Publicly-Listed Aerospace & Defense Companies 1.8x
United States of America Market PEG Ratio Median Figure of 2,109 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:HEI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 48.56x ÷ 8.4%

5.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HEICO is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on HEICO's assets?
Raw Data
NYSE:HEI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-31) in USD $11.20
NYSE:HEI Share Price * NYSE (2019-04-18) in USD $100
United States of America Aerospace & Defense Industry PB Ratio Median Figure of 56 Publicly-Listed Aerospace & Defense Companies 2.64x
United States of America Market PB Ratio Median Figure of 5,184 Publicly-Listed Companies 1.91x
NYSE:HEI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:HEI Share Price ÷ Book Value per Share (both in USD)

= 100 ÷ 11.20

8.93x

* Primary Listing of HEICO.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HEICO is overvalued based on assets compared to the US Aerospace & Defense industry average.
X
Value checks
We assess HEICO's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. HEICO has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is HEICO expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is HEICO expected to grow at an attractive rate?
  • HEICO's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • HEICO's earnings growth is positive but not above the United States of America market average.
  • HEICO's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:HEI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:HEI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 8.4%
NYSE:HEI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 6.4%
United States of America Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 10.5%
United States of America Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 5.6%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:HEI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:HEI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-10-31 2,373 1
2021-10-31 2,226 379 345 5
2020-10-31 2,110 390 324 10
2019-10-31 1,966 360 295 10
NYSE:HEI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-01-31 1,839 326 273
2018-10-31 1,778 328 259
2018-07-31 1,722 321 246
2018-04-30 1,648 292 224
2018-01-31 1,586 284 210
2017-10-31 1,525 288 186
2017-07-31 1,467 256 177
2017-04-30 1,431 244 173
2017-01-31 1,413 260 166
2016-10-31 1,376 260 156
2016-07-31 1,342 224 150
2016-04-30 1,286 211 143

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • HEICO's earnings are expected to grow by 8.4% yearly, however this is not considered high growth (20% yearly).
  • HEICO's revenue is expected to grow by 6.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:HEI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from HEICO Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HEI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-10-31
2021-10-31 2.51 2.59 2.43 3.00
2020-10-31 2.35 2.45 2.27 7.00
2019-10-31 2.14 2.16 2.11 7.00
NYSE:HEI Past Financials Data
Date (Data in USD Millions) EPS *
2019-01-31 2.06
2018-10-31 1.96
2018-07-31 1.86
2018-04-30 1.70
2018-01-31 1.59
2017-10-31 1.41
2017-07-31 1.34
2017-04-30 1.32
2017-01-31 1.26
2016-10-31 1.19
2016-07-31 1.15
2016-04-30 1.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • HEICO is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess HEICO's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
HEICO has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has HEICO performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare HEICO's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • HEICO's year on year earnings growth rate has been positive over the past 5 years.
  • HEICO's 1-year earnings growth exceeds its 5-year average (30.1% vs 18.5%)
  • HEICO's earnings growth has exceeded the US Aerospace & Defense industry average in the past year (30.1% vs 29.2%).
Earnings and Revenue History
HEICO's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from HEICO Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:HEI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-31 1,839.46 273.41 319.84
2018-10-31 1,777.72 259.23 315.84
2018-07-31 1,722.06 245.53 305.62
2018-04-30 1,647.74 224.14 298.13
2018-01-31 1,585.79 210.21 285.06
2017-10-31 1,524.81 185.99 266.97
2017-07-31 1,466.89 176.57 255.44
2017-04-30 1,431.47 172.88 243.83
2017-01-31 1,413.46 165.85 248.69
2016-10-31 1,376.26 156.19 243.98
2016-07-31 1,341.63 150.18 242.36
2016-04-30 1,285.92 142.55 230.84
2016-01-31 1,226.69 137.00 212.49
2015-10-31 1,188.65 133.36 204.23
2015-07-31 1,152.20 127.22 200.62
2015-04-30 1,142.86 126.22 205.27
2015-01-31 1,133.67 121.48 208.54
2014-10-31 1,132.31 121.29 209.95
2014-07-31 1,127.51 118.98 207.51
2014-04-30 1,103.62 114.56 202.40
2014-01-31 1,059.09 109.89 195.20
2013-10-31 1,008.76 102.40 189.23
2013-07-31 963.74 96.41 181.87
2013-04-30 922.58 90.59 174.54
2013-01-31 901.18 85.93 166.34
2012-10-31 897.35 85.16 164.02
2012-07-31 863.86 79.87 153.51
2012-04-30 835.16 77.14 145.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • HEICO has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • HEICO used its assets more efficiently than the US Aerospace & Defense industry average last year based on Return on Assets.
  • HEICO has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess HEICO's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
HEICO has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is HEICO's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up HEICO's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • HEICO is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • HEICO's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of HEICO's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from HEICO Company Filings, last reported 2 months ago.

NYSE:HEI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-31 1,740.75 608.52 57.86
2018-10-31 1,635.05 532.47 59.60
2018-07-31 1,563.92 623.82 66.98
2018-04-30 1,503.54 683.84 48.23
2018-01-31 1,462.37 669.01 65.69
2017-10-31 1,379.42 673.98 52.07
2017-07-31 1,323.55 434.76 49.49
2017-04-30 1,263.66 460.87 36.73
2017-01-31 1,187.49 417.33 45.91
2016-10-31 1,147.22 458.23 42.96
2016-07-31 1,100.18 509.91 27.19
2016-04-30 1,066.82 562.93 36.79
2016-01-31 1,013.35 594.92 29.89
2015-10-31 984.55 367.60 33.60
2015-07-31 921.40 299.47 31.70
2015-04-30 892.32 326.82 20.68
2015-01-31 848.35 354.92 18.37
2014-10-31 814.59 329.11 20.23
2014-07-31 783.40 386.33 20.94
2014-04-30 755.05 436.59 21.40
2014-01-31 785.74 379.29 15.24
2013-10-31 782.45 377.52 15.50
2013-07-31 743.30 319.54 12.77
2013-04-30 709.90 228.55 16.88
2013-01-31 683.76 254.88 19.09
2012-10-31 786.93 131.82 21.45
2012-07-31 749.68 152.92 13.97
2012-04-30 731.01 174.72 22.26
  • HEICO's level of debt (35%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (48.4% vs 35% today).
  • Debt is well covered by operating cash flow (53.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19.3x coverage).
X
Financial health checks
We assess HEICO's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. HEICO has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is HEICO's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.14%
Current annual income from HEICO dividends. Estimated to be 0.18% next year.
If you bought $2,000 of HEICO shares you are expected to receive $3 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • HEICO's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
  • HEICO's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:HEI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
United States of America Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 1.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2009 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:HEI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-10-31 0.22 1.00
2021-10-31 0.19 2.00
2020-10-31 0.17 3.00
2019-10-31 0.17 4.00
NYSE:HEI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-12-17 0.140 0.161
2018-06-12 0.120 0.147
2018-05-31 0.112 0.148
2018-05-29 0.112 0.151
2017-12-15 0.112 0.167
2017-06-13 0.102 0.190
2017-05-25 0.092 0.195
2017-05-23 0.092 0.196
2016-12-13 0.092 0.217
2016-06-06 0.082 0.230
2016-05-27 0.082 0.240
2016-05-25 0.082 0.242
2015-12-14 0.082 0.280
2015-06-09 0.072 0.266
2015-05-21 0.251 0.838
2015-05-19 0.251 0.817
2014-12-15 0.251 0.825
2014-06-10 0.241 0.921
2014-05-22 0.241 0.876
2014-05-20 0.241 0.890
2014-02-27 0.241 0.803
2014-02-25 0.241 0.771
2013-12-19 0.241 0.833
2013-12-17 0.241 0.799
2013-06-11 0.057 0.227
2013-05-24 0.049 0.234
2013-05-22 0.049 0.249
2012-11-27 0.049 0.272
2012-06-19 0.049 0.318
2012-05-31 0.039 0.242
2012-05-22 0.039 0.233
2011-12-13 0.039 0.223
2011-06-14 0.039 0.226
2011-05-31 0.032 0.184
2011-05-24 0.032 0.180
2010-12-14 0.032 0.211
2010-06-15 0.032 0.279
2010-06-03 0.025 0.260
2010-05-25 0.025 0.245
2009-12-14 0.025 0.252
2009-06-16 0.025 0.310
2009-06-03 0.025 0.315
2009-05-27 0.025 0.340
2009-04-22 0.025 0.403

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • HEICO is not paying a notable dividend for United States of America, therefore no need to check if the payments are stable.
  • HEICO is not paying a notable dividend for United States of America, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of HEICO's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of HEICO's dividends as it is not paying a notable one for United States of America.
Future Payout to shareholders
  • No need to calculate the sustainability of HEICO's dividends in 3 years as they are not expected to pay a notable one for United States of America.
X
Income/ dividend checks
We assess HEICO's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can HEICO afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. HEICO has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of HEICO's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Laurans Mendelson
COMPENSATION $6,753,991
AGE 80
TENURE AS CEO 29.2 years
CEO Bio

Mr. Laurans A. Mendelson has been the Chief Executive Officer of HEICO Corporation since February 1990. Mr. Mendelson served as the Chief Executive Officer and President at HEICO Aerospace Holdings Corp. He served as the President of HEICO Corporation from September 1991 to September 2009. He served as the President of MediTek Health Corporation from May 1994 to July 1996. Mr. Mendelson served as the President of Heico Electronic Technologies Corp. He serves as the Chairman of Mount Sinai NYU Health. He has been the Chairman and Director of HEICO Corporation since December 1990 and 1989 respectively. He is a Member of the Board of Trustees, the Executive Committee and Founders Club of Mount Sinai Medical Center in Miami Beach, Florida and also served as Chairman of Board of Trustee. Mr. Mendelson serves as a Trustee Emeritus of Columbia University. In addition, he served as a Trustee of Columbia University in The City of New York from 1995 to 2001.He currently serves as Trustee Emiritus of Columbia University in The City of New York. He served as a Director of Hawker Pacific Aerospace, which provides overhaul and repair services to the aviation industry, since January 2001. He serves as a Member of Board of Governors at Aerospace Industries Association. He served as Chairman of HEICO Aerospace Holdings Corp. Mr. Mendelson is a Certified Public Accountant.

CEO Compensation
  • Laurans's compensation has increased by more than 20% in the past year.
  • Laurans's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the HEICO management team in years:

10
Average Tenure
56
Average Age
  • The average tenure for the HEICO management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Laurans Mendelson

TITLE
Chairman of the Board & CEO
COMPENSATION
$7M
AGE
80
TENURE
29.2 yrs

Eric Mendelson

TITLE
Co-President & Director
COMPENSATION
$8M
AGE
53
TENURE
9.5 yrs

Victor Mendelson

TITLE
Co-President & Director
COMPENSATION
$8M
AGE
51
TENURE
9.5 yrs

Carlos Macau

TITLE
Executive VP
COMPENSATION
$4M
AGE
51
TENURE
6.8 yrs

steve Walker

TITLE
Chief Accounting Officer & Assistant Treasurer
COMPENSATION
$822K
AGE
54
TENURE
6.8 yrs

Joseph Pallot

TITLE
General Counsel
COMPENSATION
$104K
AGE
58
TENURE
10.6 yrs

Thomas Irwin

TITLE
Senior Executive Vice President
COMPENSATION
$2M
AGE
72
TENURE
27.6 yrs

William Harlow

TITLE
Vice President of Acquisitions
COMPENSATION
$492K
AGE
70
TENURE
18.3 yrs
Board of Directors Tenure

Average tenure and age of the HEICO board of directors in years:

12.3
Average Tenure
64
Average Age
  • The average tenure for the HEICO board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Eric Mendelson

TITLE
Co-President & Director
COMPENSATION
$8M
AGE
53
TENURE
27.3 yrs

Victor Mendelson

TITLE
Co-President & Director
COMPENSATION
$8M
AGE
51
TENURE
23.3 yrs

Alan Schriesheim

TITLE
Independent Director
COMPENSATION
$272K
AGE
87
TENURE
35.3 yrs

Laurans Mendelson

TITLE
Chairman of the Board & CEO
COMPENSATION
$7M
AGE
80
TENURE
28.3 yrs

Frank Schwitter

TITLE
Independent Director
COMPENSATION
$214K
AGE
85
TENURE
12.3 yrs

Mark Hildebrandt

TITLE
Independent Director
COMPENSATION
$278K
AGE
62
TENURE
10.6 yrs

Adolfo Henriques

TITLE
Independent Director
COMPENSATION
$215K
AGE
64
TENURE
8.1 yrs

Julie Neitzel

TITLE
Independent Director
COMPENSATION
$220K
AGE
58
TENURE
4.6 yrs

Tom Culligan

TITLE
Independent Director
COMPENSATION
$206K
AGE
66
TENURE
4.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by HEICO insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
23. Jan 19 Buy Alan Schriesheim Individual 22. Jan 19 22. Jan 19 1,445 $79.59 $115,012
11. Jan 19 Sell Thomas Irwin Individual 10. Jan 19 10. Jan 19 -5,000 $77.76 $-388,775
11. Oct 18 Buy Laurans Mendelson Individual 09. Oct 18 09. Oct 18 1,311 $88.21 $115,644
11. Oct 18 Buy Victor Mendelson Individual 09. Oct 18 09. Oct 18 1,311 $88.21 $115,644
10. Oct 18 Buy Eric Mendelson Individual 09. Oct 18 09. Oct 18 1,312 $88.21 $115,732
10. Oct 18 Buy Thomas Culligan Individual 09. Oct 18 09. Oct 18 1,312 $88.21 $115,732
10. Oct 18 Buy Mark Hildebrandt Individual 09. Oct 18 09. Oct 18 1,312 $88.21 $115,732
10. Oct 18 Buy Adolfo Henriques Individual 09. Oct 18 09. Oct 18 1,311 $88.21 $115,644
10. Oct 18 Buy Wolfgang Mayrhuber Individual 09. Oct 18 09. Oct 18 1,313 $88.21 $115,820
10. Oct 18 Buy Julie Neitzel Individual 09. Oct 18 09. Oct 18 1,313 $88.21 $115,820
10. Oct 18 Buy Frank Schwitter Individual 09. Oct 18 09. Oct 18 1,313 $88.21 $115,820
X
Management checks
We assess HEICO's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. HEICO has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Why HEICO Corporation (NYSE:HEI) Is A Buy When Markets Go Down

High quality companies, such as HEICO Corporation, are impacted by general market panic and sell-off, but the fundamentals of these companies stay the same. … View our latest analysis for HEICO. … HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally

Simply Wall St -

What Kind Of Shareholders Own HEICO Corporation (NYSE:HEI)?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … We'd expect to see both institutions and retail investors owning a portion of the company. … institutions are noticeable on the share registry.

Simply Wall St -

Don't Sell HEICO Corporation (NYSE:HEI) Before You Read This

This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … HEICO has a price to earnings ratio of 45.43, based on the last twelve months. … How Do I Calculate HEICO's Price To Earnings Ratio

Simply Wall St -

Have Insiders Been Buying HEICO Corporation (NYSE:HEI) Shares?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … That means that even when the share price was below the current price of US$91.13, an insider wanted to cash in some shares. … Although they bought at below the recent price of US$91.13 per share, it is good to see that insiders are willing to invest in the company.

Simply Wall St -

Is HEICO Corporation (NYSE:HEI) As Strong As Its Balance Sheet Indicates?

HEICO Corporation (NYSE:HEI), a large-cap worth US$11b, comes to mind for investors seeking a strong and reliable stock investment. … Most investors favour these big stocks due to their strong balance sheet and high market liquidity, meaning there are an abundance of stock in the public market available for trading. … Today I will analyse the latest financial data for HEI to determine is solvency and liquidity and whether the stock is a sound investment.

Simply Wall St -

HEICO Shareholders Have Enjoyed An Impressive 228% Share Price Gain

For example, the HEICO Corporation (NYSE:HEI) share price has soared 228% in the last three years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … HEICO was able to grow its EPS at 24% per year over three years, sending the share price higher.

Simply Wall St -

Interested In HEICO Corporation (NYSE:HEI)? Here's What Its Recent Performance Looks Like

Increase in profitability and industry-beating performance can be essential considerations in a stock for some investors. … How Did HEI's Recent Performance Stack Up Against Its Past. … Furthermore, this one-year growth rate has exceeded its 5-year annual growth average of 18%, indicating the rate at which HEI is growing has accelerated

Simply Wall St -

Should You Worry About HEICO Corporation's (NYSE:HEI) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. … How Does Laurans Mendelson's Compensation Compare With Similar Sized Companies?

Simply Wall St -

HEICO Corporation (NYSE:HEI): How Much Money Comes Back To Investors?

If you are currently a shareholder in HEICO Corporation (NYSE:HEI), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … Today we will examine HEICO’s ability to generate cash flows, as well as the level of capital expenditure it is expected to incur over the next couple of years, which will result in how much money goes to you. … Free cash flow (FCF) is the amount of cash HEICO has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations.

Simply Wall St -

How Do Analysts See HEICO Corporation (NYSE:HEI) Performing In The Next Couple Of Years?

The latest earnings release HEICO Corporation's (NYSE:HEI) announced in October 2018a … confirmed

Simply Wall St -

Company Info

Description

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. This segment also offers traveling wave tube amplifiers and microwave power modules; three-dimensional microelectronic and stacked memory products; harsh environment connectivity products and custom molded cable assemblies; radio frequency and microwave amplifiers, transmitters, and receivers; communications and electronic intercept receivers and tuners; self-sealing auxiliary fuel systems; active antenna systems; and nuclear radiation detectors. The company serves the U.S. and foreign military agencies; prime defense contractors; and commercial and defense satellite and spacecraft manufacturers. HEICO Corporation was founded in 1949 and is headquartered in Hollywood, Florida.

Details
Name: HEICO Corporation
HEI
Exchange: NYSE
Founded: 1949
$12,079,594,234
132,967,534
Website: http://www.heico.com
Address: HEICO Corporation
3000 Taft Street,
Hollywood,
Florida, 33021,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE HEI Common Stock New York Stock Exchange US USD 02. Jan 1968
DB HC1 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0J46 Common Stock London Stock Exchange GB USD 02. Jan 1968
NYSE HEI.A Class A Common Stock New York Stock Exchange US USD 09. Apr 1998
Number of employees
Current staff
Staff numbers
5,400
HEICO employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 23:36
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/28
Last earnings reported: 2019/01/31
Last annual earnings reported: 2018/10/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.