The company has issued more shares over this period, which dilutes each existing shareholder’s stake.
Diluted shares outstanding: 137.9M (2021) → 140.8M (2025)
HEICO Corporation operates as a diversified enterprise, involved in the design, manufacturing, and global distribution of specialized products and services primarily for the aerospace, defense, and electronics sectors. Its activities span both domestic and international markets. The company's Flight Support Group division delivers a range of essential components and services. This encompasses producing replacement parts for jet engines and aircraft, as well as fabricating thermal insulation blankets, advanced renewable insulation systems, and various specialty components. The segment also functions as a distributor for critical hydraulic, pneumatic, structural, interconnect, mechanical, and electro-mechanical parts, serving commercial, regional, and general aviation clients. A significant aspect of its operations involves extensive repair and overhaul services for jet engine and aircraft components, avionics, instruments, composites, and flight surfaces on commercial aircraft, alongside maintaining avionics, navigation systems, and other vital instruments utilized in military aircraft. Within its Electronic Technologies Group segment, HEICO develops and supplies advanced technological products. This broad portfolio features electro-optical infrared simulation and testing equipment, electro-optical laser products, and diverse power equipment, including microwave solutions. The segment additionally produces electromagnetic and radio frequency interference (RFI) shielding and suppression filters, high-speed interface products, high voltage interconnection devices, sophisticated advanced power electronics, and power conversion units. Essential safety devices such as underwater and emergency locator transmission beacons are also manufactured. Further specialized electronic offerings include traveling wave tube amplifiers, microwave power modules, three-dimensional microelectronic and stacked memory products, robust connectivity solutions designed for harsh environments, and custom molded cable assemblies. Completing its specialized array are 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. HEICO's varied client base predominantly includes entities within the aviation, defense, space, medical, telecommunications, and broader electronics industries. The corporation, founded in 1957, is headquartered in Hollywood, Florida.
When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.
+23.1% YoY
YoY Growth Rate
Steady revenue growth
+33.1% YoY
YoY Growth Rate
EPS growth accelerating
$0/ year
↓ Declining (-100% vs prior year)
0.0% of revenue
Below sector average (4%)
R&D spend declining — could signal cost-cutting or efficiency
Cash flow positive
$241M cash & investments
Quarterly Free Cash Flow
↑ Burn rate improving
Company generates more cash than it spends — no dilution risk from fundraising
HEICO Corporation is a rare growth stock that's already generating positive cash flow while growing at 23%. The Winston Score doesn't fully credit this transition from "burner" to "earner."
The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.
Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.
ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Earnings growing 25%+ a year. The compounder zone.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Interest coverage above 8. Profits cover interest many times over.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
P/E over 35. The market is pricing in heavy, sustained growth.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
Modest yield. The bulk of any return needs to come from price appreciation.
Full breakdown available with your free trial
See every metric, trend, and what it means for this stock.
