HEICO (HEI) analysis

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Health is debt against a parts catalogue, not against the airline. Quality is the margin of the alternative against the original's price. Growth follows flight hours and the new part numbers that get approved. P/E is read against a year with a large fleet in the air, not against that peak. Shareholder return is the dividend, checked against cash. Do not read it as a cost advantage already closed.

The P/E of a year of many flight hours is not normal earnings. EV/EBITDA is read without treating every part on the aircraft as if it already had an alternative. Do not use TransDigm's multiple, which sells the original, as if the margin were the same. A dash if the HEI cache is cold.

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Not advice on HEICO. Vaultflake does not treat the alternative as approved on the whole aircraft or the price as unbeatable. Read the filings. A past dividend is not a right. The table is a snapshot, not a target price.

Questions from this report