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

Curtiss-Wright Corporation and Heico Corporation are both Aerospace & Defense companies. Heico Corporation is the larger, with a market value of $36.3B against $20.1B — 1.8× the size. Curtiss-Wright Corporation trades at the lower P/E: 36.9× against 38.2×. 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 (0.35% vs 0.17%). Across the 23 metrics below, Curtiss-Wright Corporation leads on 13 and Heico Corporation on 10.

Valuation

Metric CW HEI.A Aerospace & Defense median
P/E 36.94 38.16 33.00
P/S 5.46 6.26 3.63
P/B 7.20 6.45 3.24
Price to free cash flow 31.40 31.46 34.01
EV/EBITDA 25.34 23.74 18.69
EV/Sales 5.59 6.71 3.94
Earnings yield 2.71% 2.62% 1.31%
Free cash flow yield 3.19% 3.18% 0.00%

Profitability

Metric CW HEI.A 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% 6.43%
Return on assets 10.16% 9.18% 2.70%
Return on invested capital 13.20% 10.62% 1.56%

Growth

Metric CW HEI.A Aerospace & Defense median
Revenue growth (TTM) 10.54% 20.69% 18.43%
EPS growth (last fiscal year) 21.99% 33.51% —
Revenue growth, 5-year CAGR 7.91% 20.21% 9.62%
Net income growth, 5-year CAGR 19.18% 17.07% 0.00%

Health

Metric CW HEI.A 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.A Aerospace & Defense median
Dividend yield 0.35% 0.17% 1.04%
Payout ratio 0.09 0.07 0.00

Size

Metric CW HEI.A Aerospace & Defense median
Market cap 20.10b 36.31b 2.52b

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