HIGHBuilt-inProduct / Revenue mix
70%
Flight Support Group
“10-K Item 1: 'Our Flight Support Group ("FSG")...accounted for 70%, 68% and 60% of our net sales in fiscal 2025, 2024 and 2023, respectively.'”
HEI · Concentration risk · 10-K extracted
Heico (HEI) concentration risks
Updated
The most significant concentration Heico discloses is Flight Support Group at 70%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Heico’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH1
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inGeographic
38%
foreign customers
“10-K Item 1A: 'approximately 38% of our consolidated net sales in fiscal 2025 derived from sales to foreign customers'”
MEDIUMBuilt-in & outside partyProduct / Revenue mix
31%
defense and homeland security products
“10-K Item 1A: 'In fiscal 2025, approximately 31% of our net sales were derived from the sale of defense, commercial and defense satellite and spacecraft components, and homeland security products.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is dominated by a high-share product segment: the Flight Support Group accounted for 70% of net sales in fiscal 2025, a structural exposure reflecting the company's strategic emphasis on aviation aftermarket parts and repair services. This is the engine of the business by revenue share, and its performance is leveraged to commercial aviation traffic and the pace at which airlines consume maintenance cycles — macro variables that move with the economic cycle but are not dependent on a single counterparty. Two moderate exposures layer on top. Foreign customers contributed approximately 38% of consolidated net sales in fiscal 2025, a structural feature of selling aerospace parts globally; no single country or customer name is disclosed. Defense, commercial and defense satellite, and homeland security products represented approximately 31% of net sales in fiscal 2025, a mixed-character concentration that combines structural (defense budget allocation) and dependency (program-by-program award cycles) elements. Taken together, the profile is tilted heavily toward commercial aviation aftermarket with meaningful but secondary defense and international exposure. The combination provides some diversification — commercial and defense cycles do not always move in tandem — though the Flight Support Group's dominant share means the company's overall results are most sensitive to airline industry health. There is no disclosed customer concentration or single-counterparty supply risk that would create a sharp, binary risk event.
For the engine’s reasoning on HEI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Aerospace & Defense
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| HEI● | Heico Corporation | 1 | 2 | 0 | 3 |
| AVAV | AeroVironment, Inc. | 1 | 1 | 2 | 4 |
| ACHR | Archer Aviation Inc. | 1 | 0 | 0 | 1 |
| AXON | Axon Enterprise, Inc. | 0 | 2 | 0 | 2 |
| AIR | AAR Corp. | 0 | 0 | 1 | 1 |
| ATRO | Astronics Corporation | 0 | 0 | 1 | 1 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.