Heico Corp.
HEI - Insider Information
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+ FollowMarket Cap$44.77B
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Earnings Call Q3 2026
August 26, 2026 - AI Summary
Record Q3 results with strong YoY growth (23% sales, 33% net income) + margin/cash strength
- Net sales $1,413.1M (+23% YoY); operating income $355.2M (+34% YoY); net income $235.4M (+33% YoY); EPS $1.67 (vs. $1.26 in Q3 FY25).
- Electronic Technologies Group (ETG) hit all-time quarterly highs: operating income +55% and net sales +36% YoY.
- Flight Support Group (FSG) also hit all-time highs: operating income +24% and net sales +18% YoY.
- Consolidated EBITDA $415.2M (+31% YoY) and net debt/EBITDA improved to 1.57x (from 1.60x).
Organic growth is broad-based and supported by strong demand/backlog
- FSG: 12% organic sales growth across all product lines; management also emphasized ~20% organic operating income growth (investors’ key profitability metric).
- ETG: 18% organic net sales growth; demand strengthening tied to “other electronics/defense/aerospace products,” with higher aerospace mix helping margins.
- Bookings/backlog described as strong and expanding, with customers requesting expediting/pull-forward and then continuing to place additional orders (i.e., not behaving like a simple timing shift).
Margins expanding; “cash margins” outperform GAAP due to intangibles amortization
- FSG operating margin 25.9% (up from 24.7%); management noted acquisition-related intangible amortization consumed ~200 bps, but cash margin/EBITDA ~28.5% (vs. 27.4% prior year).
- ETG operating margin 26.0% (up from 22.8%); intangibles consumed ~390 bps, with cash margin ~29.9% (vs. 26.6% in Q3 FY25).
- Surprising/positive investor takeaway: despite large GAAP intangible amortization, cash margins are very high and rising, reinforcing management’s “earnings are opinion, cash flow is fact” framing.
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$148.91
55.9% downside
Current Fair Value
55.9% downsideOvervalued by 55.9% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $44.77 Billion |
|---|---|
| Enterprise Value | $47.07 Billion |
| Annual dividend | $0.25 |
| Dividend yield | 0.08% |
| Earnings per Share | $4.97 |
| Beta | 1.09 |
| Outstanding Shares | 139,702,000 |
Return
| Return on Equity | 16.87% |
|---|---|
| Return on Assets | 8.53% |
| Return on Invested Capital | 13.81% |
Valuation & Multiples
| P/E Ratio | 52.86 |
|---|---|
| PEG | 161.34 |
| Price to Sales | 9.12 |
| Price to Book Ratio | 8.44 |
| Enterprise Value to Revenue | 9.09 |
| Enterprise Value to EBIT | 38.16 |
| Enterprise Value to Net Income | 55 |
| Total Debt to Enterprise | 0.05 |
| Debt to Equity | 0.51 |
Revenue Sources
No data
Last Earnings Call
Report Date
August 25, 2026
EPS Estimate
$1.52
Consensus analyst estimateRevenue Estimate
$1.36 B
Consensus analyst estimateNext Earnings Call
Expected Date
December 17, 2026
EPS Estimate
$1.62
Consensus analyst estimateRevenue Estimate
$1.43 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.0000▼ 54.02% |
|---|---|
| Total Calls | -▼ 100.00% |
| Total Puts | 7,200▼ 94.58% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 1.30%▼ 30.07% |
|---|---|
| Total Invested | $552.97M▼ 96.46% |
| Investors Holding | 242▼ 559.00% |
About Heico Corp.
6,000 employees
CEO: Laurans Mendelson
HEICO Corporation is an aerospace and electronics company that focuses on niche markets. HEICO’s products are found in aircraft, spacecraft, defense equipment, medical equipment, and telecommunications systems.