HEI
HEICO Corporation

HEICO CorporationHEI

Industrials · Aerospace & Defense
307.77USD
+1.56%
Sep 23, 2026
HEI overview ready
FAA-Approved Replacement Parts and Repair Services Driving Commercial Aviation Aftermarket
HEICO operates both the Flight Support Group, which produces FAA-approved aircraft and engine replacement parts and provides component repair/overhaul, and the Electronic Technologies Group, which supplies specialized electronic, RF, power, interconnect and electro-optical systems to aerospace, defense, space and other markets.
Narrative is still early
Exposed to the Commercial Aviation Fleet Sustainment narrative through Aftermarket Replacement Parts and Component MRO — component supplier.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Dependence on aerospace and defense spending cycles.
Market Sep 22Filing Jul 31Price action Sep 22Research Aug 20

Conviction Level

NarrativeHeat6.7ThemeHeat7.6PriceAction5.4Valuation8.3CompanyPosition9.3
Price
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Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$17.0B
Avg Volume (60D)
481.0K
60 sessions
Revenue Growth YoY
+16.3%
FY2025 vs FY2024
Gross Margin
+43.0%
Trailing twelve months
Operating Margin
+24.0%
Trailing twelve months
Free Cash Flow Yield
+6.1%
Distance from 200DMA
-4.5%
P/E
20.0x
EV / EBITDA
13.2x
EV / Sales
3.7x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jul 31, 2026
Filed balance-sheet data as of Jul 31, 2026

Fundamentals & Valuation

Both valuation perspectives agree this company is cheap.
HEICO Corporation has a Cheap valuation stance because current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

Company Research

Thesis
HEICO operates both the Flight Support Group, which produces FAA-approved aircraft and engine replacement parts and provides component repair/overhaul, and the Electronic Technologies Group, which supplies specialized electronic, RF, power, interconnect and electro-optical systems to aerospace, defense, space and other markets.
Opportunity
Moderate opportunity
Aircraft fleet utilization, aging installed bases, constrained OEM deliveries and maintenance requirements drive recurring demand for certified replacement parts, component repair, overhaul and distribution services.
Key risk
Dependence on aerospace and defense spending cycles.

Narrative & Theme

Commercial Aviation Fleet Sustainment
Part of Aftermarket Replacement Parts and Component MRO, with strong fit.
HEI has direct, recurring exposure to the commercial aviation installed base through certified replacement parts and repair/overhaul rather than merely being adjacent to airline traffic.
Narrative HeatNeutral6.7 / 10
Theme HeatHeating up7.6 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.

Business & Markets

Industrials · Aerospace & Defense
What they do

HEICO Corporation designs, manufactures, and distributes aerospace, defense, and electronic products and components, operating primarily through its Flight Support Group which provides replacement parts and repair services for jet engines and aircraft components.

How it earns

HEICO generates revenue primarily through transactional sales of aerospace and defense components and repair services.

Products & services
Jet engine and aircraft component replacement parts
Thermal insulation blankets and parts
Hydraulic, pneumatic, structural, interconnect, mechanical, and electro-mechanical components
Repair and overhaul services for jet engines and aircraft components
Customers & end markets
Commercial aviation
Regional aviation
General aviation
Defense sector
Market position

Niche player supplying specialized and hard-to-qualify aerospace and defense components.

Demand drivers
Medium cyclicality

Exposure to aerospace and defense markets subjects the company to industry cycles and defense spending fluctuations.