What is Heico Corp worth?
With the base-case assumptions below, a discounted cash flow model on Heico Corp's reported free cash flow gives $185.83 per share. The share price was $308.53 on September 25, 2026, 66% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $106.50 | -65% |
| Base | 15.0% | 9.0% | $185.83 | -40% |
| Bull | 20.0% | 8.0% | $333.54 | +8% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $245.89 | $264.62 | $287.51 | $316.12 | $352.91 |
| 8.0% | $200.77 | $212.92 | $227.27 | $244.49 | $265.54 |
| 9.0% | $167.94 | $176.25 | $185.83 | $197.01 | $210.22 |
| 10.0% | $143.05 | $148.96 | $155.65 | $163.30 | $172.12 |
| 11.0% | $123.57 | $127.90 | $132.74 | $138.18 | $144.35 |
Where the presets come from
Base: years 1 to 5 grow at Heico Corp's revenue growth rate over the last 5 fiscal years (20.2% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions