Heico is an aerospace and defense supplier that focuses on creating niche replacement parts for commercial aircraft and components for defense products. In commercial aerospace, Heico is the largest independent producer of replacement aircraft parts. In the defense market, the company produces niche subcomponents used in targeting technology as well as simulation equipment, among other categories. It operates as two segments: the flight support group,or FSG, and the electronic technologies group, or ETG, both of which supply the aerospace and defense sectors to different degrees. The company is persistently acquisitive, focusing on companies in similar or adjacent markets that are generating strong cash flow with the potential for growth.

Financial Strength

5/10

Name	Current	Vs Industry
Cash-To-Debt	0.09
Equity-to-Asset	0.46
Debt-to-Equity	0.71
Debt-to-EBITDA	2.68
Interest Coverage	5.49
Piotroski F-Score	5/9	0 1 2 3 4 5 6 7 8 9
Altman Z-Score	6.09	Distress Grey Safe
Beneish M-Score	-2.46	Manipulator Not Manipulator
WACC vs ROIC		WACC ROIC

Growth Rank

10/10

	Name	Current	Vs Industry		Vs History
	3-Year Revenue Growth Rate	18
	3-Year EBITDA Growth Rate	17.1
	3-Year EPS without NRI Growth Rate	8.3
	3-Year FCF Growth Rate	0.7
	3-Year Book Growth Rate	15.8
	Future 3-5Y EPS without NRI Growth Rate	16.24
	Future 3-5Y Total Revenue Growth Rate	14.78

Momentum Rank

3/10

	Name	Current	Vs Industry		Vs History
	5-Day RSI	23.39
	9-Day RSI	38.1
	14-Day RSI	50.7
	6-1 Month Momentum %	67.02
	12-1 Month Momentum %	67.02

Liquidity Ratio

	Name	Current	Vs Industry		Vs History
	Current Ratio	3.52
	Quick Ratio	1.57
	Cash Ratio	0.37
	Days Inventory	157.05
	Days Sales Outstanding	45.78
	Days Payable	29.99

Dividend & Buy Back

	Name	Current	Vs Industry		Vs History
	Dividend Yield %	0.1
	Dividend Payout Ratio	0.06
	3-Year Dividend Growth Rate	7.7
	Forward Dividend Yield %	0.1
	5-Year Yield-on-Cost %	0.17
	3-Year Average Share Buyback Ratio	-0.8
	Shareholder Yield %	-5.98

Profitability Rank

9/10

	Name	Current	Vs Industry		Vs History
	Gross Margin %	38.78
	Operating Margin %	20.74
	Net Margin %	12.63
	FCF Margin %	14.05
	ROE %	14.27
	ROA %	6.88
	ROIC %	10.47
	ROC (Joel Greenblatt) %	61.46
	ROCE %	12.42
	Years of Profitability over Past 10-Year	10

GF Value Rank

9/10

	Name	Current	Vs Industry		Vs History
	PE Ratio	55.13
	Forward PE Ratio	52.36
	PE Ratio without NRI	55.13
	Shiller PE Ratio	74.9
	Price-to-Owner-Earnings	59.12
	PEG Ratio	6.64
	PS Ratio	6.97
	PB Ratio	7.16
	Price-to-Free-Cash-Flow	49.6
	Price-to-Operating-Cash-Flow	44.72
	EV-to-EBIT	39.59
	EV-to-Forward-EBIT	31.6
	EV-to-EBITDA	32.49
	EV-to-Forward-EBITDA	25.78
	EV-to-Revenue	8.24
	EV-to-Forward-Revenue	6.75
	EV-to-FCF	58.69
	Price-to-Projected-FCF	2.97
	Price-to-DCF (Earnings Based)	3.37
	Price-to-DCF (FCF Based)	3.28
	Price-to-Median-PS-Value	1.17
	Price-to-Peter-Lynch-Fair-Value	5.6
	Earnings Yield (Greenblatt) %	2.53
	FCF Yield %	1.84
	Forward Rate of Return (Yacktman) %	11.59

GF Value: $257.7

LTS:0J46

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