Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.36, read 2026-11-03
Ethical does not pass the values gate
Price337.67 USD
Fair value273.53
Value readOvervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-23Read Markdown308.64+9.4% to today Accumulation gives way to Markdown first Markdown read since October
2026-10-16Read Accumulation308.64+9.4% to today ✓Markdown gives way to Accumulation
2026-10-02Read Markdown304.61+10.9% to today Markup gives way to Markdown after a 13% slide in 6 weeks
2026-08-22Read Markup350.58-3.7% to today Accumulation gives way to Markup first Markup read since August
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
HEICO Corporation holds its Markup at $337.67. Elevated stress, defensive posture warranted, held for 76 days.
As held on the ledger · 2026-11-04
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 76 days
Price at the screen
$337.67
Valuation
54.39 trailing · 45.15 forward price to earnings
Values screen
FAIL
Beta
1.09
The Workings
Five Screens, Shown in Full
Does not pass. Business activity
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited sector: defense
Fail
Debt load
0.00%
Below 33%
Interest-bearing debt is just 0.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
HEICO does not clear the screen at the business-activity stage. It operates in aerospace and defense, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Overvalued vs our fair value, as of 4 Nov 2026: it trades above our $273.53 fair value estimate, moderate competitive moat, 23.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. The price runs 23.4% above the base estimate.
Third-party analyst targets: 20 covering, consensus Buy. The average target sits +19% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $273.53, with a range of $264.60 to $314.56, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Aerospace parts maker hits ethical wall
HEICO supplies the specialist components that keep both commercial jets and military aircraft in the air longer. Fleets keep ageing and travel volumes keep climbing, so demand for its repairs and parts stays solid.
We pass. The company fails our ethical screen on business activity grounds. Shares also sit at 49.5 times forward earnings, well above our fair value of 269 dollars, despite 25 percent revenue growth, 16 percent margins and 17 percent ROE.
Analyst targets at 400 dollars already price in perfection. Any slowdown in aerospace cycles or margin pressure would hit the multiple hard, and the ethical flag rules it out regardless.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HEI trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-30Markdown$326.35+5.7%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 5.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354.
2026-10-23Markdown · changed$308.64+0.0%Entry 15
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354.
2026-10-02Markdown · changed$304.61-13.1%Entry 13
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 13.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354.
2026-08-25Markup$350.58+0.0%Entry 12
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-24Markup$350.58+0.0%Entry 11
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-23Markup$350.58+0.0%Entry 10
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-22Markup · changed$350.58+0.0%Entry 9
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-21Accumulation$350.58-4.4%Entry 8
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 4.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354. It reported earnings in this window, a natural checkpoint for the thesis.
2026-08-20Accumulation$366.80+0.0%Entry 7
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are up 8%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (20 analysts) rates it buy, with a mean price target of $354. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
