HEICO Corporation (HEI) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Aerospace & Defense
EV/EBITDA
↓
40.28
+9% vs avg
5yr avg: 36.90
30Y Low4.3·High39.8
P/FCF
↑
54.52
+4% vs avg
5yr avg: 52.31
30Y Low12.2·High68.6
P/B Ratio
↑
10.84
↑+31% vs avg
5yr avg: 8.29
30Y Low0.8·High10.2
ROE
↑
17.1%
↓+21% vs avg
5yr avg: 14.1%
30Y Low5%·High19%
Debt/EBITDA
↑
1.81
+9% vs avg
5yr avg: 1.66
30Y Low0.1·High3.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HEI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
HEICO Corporation trades at 68.8x earnings, 10% above its 5-year average of 62.6x, sitting at the 100th percentile of its historical range. Compared to the Industrials sector median P/E of 25.6x, the stock trades at a premium of 169%. On a free-cash-flow basis, the stock trades at 54.5x P/FCF, roughly in line with the 5-year average of 52.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $47.0B | $44.7B | $34.3B | $22.0B | $22.5B | $19.2B | $14.4B | $16.9B | $11.5B | $7.9B | $4.6B |
| Enterprise Value | $48.9B | $46.7B | $36.4B | $24.3B | $22.6B | $19.4B | $14.8B | $17.4B | $11.9B | $8.5B | $5.0B |
| P/E Ratio → | 68.80 | 64.85 | 66.74 | 54.44 | 63.78 | 63.07 | 45.87 | 51.61 | 44.12 | 42.36 | 29.56 |
| P/S Ratio | 10.47 | 9.97 | 8.90 | 7.41 | 10.17 | 10.30 | 8.07 | 8.24 | 6.45 | 5.16 | 3.35 |
| P/B Ratio | 10.84 | 10.21 | 9.29 | 6.89 | 7.54 | 7.54 | 6.46 | 9.00 | 7.01 | 5.70 | 4.01 |
| P/FCF | 54.52 | 51.93 | 55.92 | 55.11 | 51.51 | 47.11 | 37.35 | 41.48 | 39.98 | 31.62 | 21.09 |
| P/OCF | 50.27 | 47.88 | 51.08 | 49.04 | 47.99 | 43.27 | 35.25 | 38.73 | 34.88 | 28.63 | 18.48 |
P/E links to full P/E history page with 30-year chart
HEI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
HEICO Corporation's enterprise value stands at 40.3x EBITDA, 9% above its 5-year average of 36.9x. The Industrials sector median is 13.8x, placing the stock at a 191% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.41 | 9.44 | 8.20 | 10.24 | 10.38 | 8.27 | 8.49 | 6.71 | 5.57 | 3.65 |
| EV / EBITDA | 40.28 | 38.44 | 36.14 | 31.35 | 38.78 | 39.77 | 31.77 | 32.16 | 26.45 | 22.84 | 15.30 |
| EV / EBIT | 48.03 | 45.64 | 44.06 | 38.73 | 45.47 | 49.09 | 39.07 | 37.96 | 31.72 | 27.59 | 18.92 |
| EV / FCF | — | 54.23 | 59.33 | 60.94 | 51.89 | 47.46 | 38.25 | 42.71 | 41.63 | 34.12 | 23.00 |
HEI Profitability
Margins and return-on-capital ratios measuring operating efficiency
HEICO Corporation earns an operating margin of 22.7%, significantly above the Industrials sector average of 4.3%. ROE of 17.1% indicates solid capital efficiency, compared to the sector median of 8.2%. ROIC of 12.6% represents solid returns on invested capital versus a sector median of 6.1%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.8% | 39.8% | 41.8% | 42.1% | 42.5% | 42.7% | 41.8% | 42.8% | 42.1% | 40.7% | 40.7% |
| Operating Margin | 22.7% | 22.7% | 21.6% | 21.8% | 22.1% | 21.2% | 21.1% | 22.4% | 21.1% | 20.2% | 19.5% |
| Net Profit Margin | 15.4% | 15.4% | 13.3% | 13.6% | 15.9% | 16.3% | 17.6% | 16.0% | 14.6% | 12.2% | 11.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.1% | 17.1% | 14.9% | 13.1% | 12.7% | 12.7% | 15.3% | 18.6% | 17.2% | 14.7% | 14.7% |
| ROA | 8.6% | 8.6% | 7.0% | 7.1% | 9.3% | 8.6% | 9.6% | 11.7% | 10.0% | 8.2% | 8.3% |
| ROIC | 12.6% | 12.6% | 11.1% | 11.2% | 12.5% | 11.2% | 11.4% | 15.3% | 13.7% | 13.0% | 14.0% |
| ROCE | 14.0% | 14.0% | 12.4% | 12.7% | 14.2% | 12.1% | 12.6% | 18.2% | 16.2% | 15.1% | 15.8% |
HEI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
HEICO Corporation carries a Debt/EBITDA ratio of 1.8x, which is manageable (44% below the sector average of 3.2x). Net debt stands at $2.0B ($2.2B total debt minus $218M cash). Interest coverage of 7.9x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.50 | 0.50 | 0.61 | 0.78 | 0.10 | 0.10 | 0.34 | 0.30 | 0.33 | 0.49 | 0.40 |
| Debt / EBITDA | 1.81 | 1.81 | 2.23 | 3.22 | 0.52 | 0.51 | 1.62 | 1.04 | 1.18 | 1.81 | 1.40 |
| Net Debt / Equity | — | 0.45 | 0.57 | 0.73 | 0.06 | 0.06 | 0.16 | 0.27 | 0.29 | 0.45 | 0.36 |
| Net Debt / EBITDA | 1.63 | 1.63 | 2.07 | 3.00 | 0.28 | 0.29 | 0.75 | 0.93 | 1.05 | 1.67 | 1.27 |
| Debt / FCF | — | 2.29 | 3.40 | 5.83 | 0.38 | 0.35 | 0.90 | 1.24 | 1.65 | 2.50 | 1.90 |
| Interest Coverage | 7.88 | 7.88 | 5.54 | 8.61 | 77.89 | 54.13 | 28.73 | 21.18 | 18.90 | 31.44 | 32.07 |
HEI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
HEICO Corporation's current ratio of 2.83x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.28x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.83 | 2.83 | 3.11 | 2.79 | 2.74 | 3.18 | 4.83 | 2.81 | 2.60 | 2.53 | 2.72 |
| Quick Ratio | 1.28 | 1.28 | 1.34 | 1.27 | 1.35 | 1.56 | 2.91 | 1.36 | 1.18 | 1.16 | 1.39 |
| Cash Ratio | 0.26 | 0.26 | 0.24 | 0.26 | 0.33 | 0.37 | 1.69 | 0.20 | 0.21 | 0.21 | 0.20 |
| Asset Turnover | — | 0.53 | 0.51 | 0.41 | 0.54 | 0.53 | 0.50 | 0.69 | 0.67 | 0.61 | 0.67 |
| Inventory Turnover | 2.08 | 2.08 | 1.92 | 1.70 | 2.18 | 2.24 | 2.24 | 2.80 | 2.56 | 2.63 | 2.85 |
| Days Sales Outstanding | — | 61.60 | 61.57 | 76.34 | 64.27 | 63.58 | 55.32 | 56.37 | 51.63 | 53.25 | 53.63 |
HEI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
HEICO Corporation returns 0.1% to shareholders annually — split between a 0.1% dividend yield and 0.0% buyback yield. The payout ratio of 4.6% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 1.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
| Payout Ratio | 4.6% | 4.6% | 5.7% | 6.8% | 7.0% | 7.6% | 6.9% | 5.7% | 5.9% | 6.9% | 6.9% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.5% | 1.5% | 1.5% | 1.8% | 1.6% | 1.6% | 2.2% | 1.9% | 2.3% | 2.4% | 3.4% |
| FCF Yield | 1.8% | 1.9% | 1.8% | 1.8% | 1.9% | 2.1% | 2.7% | 2.4% | 2.5% | 3.2% | 4.7% |
| Buyback Yield | 0.0% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
| Shares Outstanding | — | $141M | $140M | $139M | $138M | $138M | $137M | $137M | $137M | $136M | $133M |
Peer Comparison
Compare HEI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HEIYou | $47B | 68.8 | 40.3 | 54.5 | 39.8% | 22.7% | 17.1% | 12.6% | 1.8 |
 TDG | $75B | 41.4 | 22.6 | 41.3 | 60.1% | 47.2% | — | 20.9% | 6.6 |
 WWD | $26B | 59.8 | 41.7 | 75.3 | 26.8% | 14.3% | 18.6% | 13.3% | 1.2 |
 CW | $28B | 60.0 | 46.1 | 51.5 | 37.2% | 18.2% | 19.4% | 14.1% | 2.1 |
 DRS | $12B | 44.7 | 27.5 | 54.2 | 23.2% | 9.5% | 10.5% | 10.5% | 1.1 |
 SPR | $5B | -2.2 | — | — | -21.7% | -28.3% | — | -50.9% | — |
 HXL | $7B | 71.3 | 28.2 | 24.0 | 23.0% | 9.1% | 7.9% | 6.0% | 3.4 |
 KAI | $4B | 35.2 | 18.5 | 23.3 | 45.2% | 14.9% | 11.0% | 10.1% | 1.8 |
 KTOS | $10B | 417.0 | 112.5 | — | 22.1% | 2.1% | 1.3% | 1.4% | 2.1 |
 HAYW | $3B | 22.1 | 10.0 | 14.4 | 45.6% | 21.1% | 10.0% | 10.2% | 0.0 |
 GE | $374B | 43.8 | 38.2 | 51.4 | 36.8% | 19.1% | 45.3% | 24.7% | 2.1 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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HEI — Frequently Asked Questions
Quick answers to the most common questions about buying HEI stock.
What is HEICO Corporation's P/E ratio?
HEICO Corporation's current P/E ratio is 68.8x. The historical average is 33.6x. This places it at the 100th percentile of its historical range.
What is HEICO Corporation's EV/EBITDA?
HEICO Corporation's current EV/EBITDA is 40.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.5x.
What is HEICO Corporation's ROE?
HEICO Corporation's return on equity (ROE) is 17.1%. The historical average is 12.6%.
Is HEI stock overvalued?
Based on historical data, HEICO Corporation is trading at a P/E of 68.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is HEICO Corporation's dividend yield?
HEICO Corporation's current dividend yield is 0.07% with a payout ratio of 4.6%.
What are HEICO Corporation's profit margins?
HEICO Corporation has 39.8% gross margin and 22.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does HEICO Corporation have?
HEICO Corporation's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.