Curtiss-Wright Corporation (CW) vs Heico Corporation (HEI)

Curtiss-Wright Corporation and Heico Corporation are both Aerospace & Defense companies. Heico Corporation is the larger, with a market value of $35.2B against $18.6B — 1.9× the size. Curtiss-Wright Corporation trades at the lower P/E: 34.4× against 48.8×. Heico Corporation grew revenue faster over the last twelve months: 20.7% against 10.5%. Heico Corporation has the higher net margin (16.4% vs 14.8%) and the lower return on invested capital (10.6% vs 13.2%). Both pay a dividend; Curtiss-Wright Corporation yields more (0.20% vs 0.08%). Across the 23 metrics below, Curtiss-Wright Corporation leads on 15 and Heico Corporation on 8.

Valuation

Metric CW HEI Aerospace & Defense median
P/E 34.36 48.80 31.91
P/S 5.08 8.01 3.62
P/B 6.70 8.25 2.59
Price to free cash flow 29.20 40.24 31.60
EV/EBITDA 23.62 29.92 17.80
EV/Sales 5.21 8.45 3.56
Earnings yield 2.91% 2.05% 1.33%
Free cash flow yield 3.42% 2.49% 0.18%

Profitability

Metric CW HEI Aerospace & Defense median
Gross margin 37.73% 40.40% 25.48%
Operating margin 18.78% 24.04% 4.54%
Net margin 14.81% 16.38% 2.22%
Free cash flow margin 17.38% 19.90% 0.00%
Return on equity 19.75% 18.35% 6.03%
Return on assets 10.16% 9.18% 2.70%
Return on invested capital 13.20% 10.62% 1.56%

Growth

Metric CW HEI Aerospace & Defense median
Revenue growth (TTM) 10.54% 20.69% 18.43%
EPS growth (last fiscal year) 21.99% 33.51% 24.27%
Revenue growth, 5-year CAGR 7.91% 20.21% 9.73%
Net income growth, 5-year CAGR 19.18% 17.07% 0.00%

Health

Metric CW HEI Aerospace & Defense median
Debt to equity 0.35 0.51 0.24
Current ratio 1.60 2.72 2.72
Net debt to EBITDA 0.77 1.61 1.12

Dividend

Metric CW HEI Aerospace & Defense median
Dividend yield 0.20% 0.08% 0.92%
Payout ratio 0.07 0.04 0.33

Size

Metric CW HEI Aerospace & Defense median
Market cap 18.62b 35.19b 2.23b

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