Discounted Cash Flow

Heico Corp.

HEI.A · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.4b $156.2m $218.3m 11.3% $2.33
2017 $1.5b (10.8%) $186.0m (19.1%) $248.9m (14.0%) 12.2% (7.5%) $2.21 (-5.2%)
2018 $1.8b (16.6%) $259.2m (39.4%) $286.6m (15.2%) 14.6% (19.6%) $1.96 (-11.3%)
2019 $2.1b (15.6%) $327.9m (26.5%) $408.4m (42.5%) 16.0% (9.4%) $2.45 (25.0%)
2020 $1.8b (-13.1%) $314.0m (-4.2%) $386.2m (-5.4%) 17.6% (10.2%) $2.33 (-4.9%)
2021 $1.9b (4.4%) $304.2m (-3.1%) $407.9m (5.6%) 16.3% (-7.2%) $2.25 (-3.4%)
2022 $2.2b (18.4%) $351.7m (15.6%) $435.9m (6.9%) 15.9% (-2.3%) $2.59 (15.1%)
2023 $3.0b (34.4%) $403.6m (14.8%) $399.3m (-8.4%) 13.6% (-14.6%) $2.94 (13.5%)
2024 $3.9b (30.0%) $514.1m (27.4%) $614.1m (53.8%) 13.3% (-2.0%) $3.71 (26.2%)
2025 $4.5b (16.3%) $690.4m (34.3%) $861.4m (40.3%) 15.4% (15.5%) $4.97 (34.0%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model