HEI vs. AMAT

Last updated Jun 9, 2026

HEI (HEICO Corporation) and AMAT (Applied Materials, Inc.) are both stocks. HEI operates in Aerospace & Defense (Industrials), while AMAT operates in Semiconductor Equipment & Materials (Technology). Over the past 10 years, HEI returned 25.42%/yr vs 36.71%/yr for AMAT. At a 0.26 correlation, their price movements are largely independent.

Performance

HEI vs. AMAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HEICO Corporation (HEI) and Applied Materials, Inc. (AMAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEI achieves a 0.01% return, which is significantly lower than AMAT's 91.99% return. Over the past 10 years, HEI has underperformed AMAT with an annualized return of 25.42%, while AMAT has yielded a comparatively higher 36.71% annualized return.

HEI

• 1D: -2.39%
• 1M: 10.59%
• YTD: 0.01%
• 6M: 2.87%
• 1Y: 6.72%
• 3Y*: 25.63%
• 5Y*: 17.50%
• 10Y*: 25.42%

AMAT

• 1D: 8.64%
• 1M: 13.17%
• YTD: 91.99%
• 6M: 83.99%
• 1Y: 197.34%
• 3Y*: 54.75%
• 5Y*: 30.69%
• 10Y*: 36.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HEI vs. AMAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEI HEICO Corporation	0.01%	36.22%	33.05%	16.56%	6.67%	9.06%	16.16%	47.54%	28.51%	53.04%
AMAT Applied Materials, Inc.	91.99%	59.60%	1.13%	67.97%	-37.54%	83.64%	43.29%	89.86%	-34.92%	59.86%

Correlation

The correlation between HEI and AMAT is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 18, 1992	0.26

The correlation between HEI and AMAT shifts across timeframes, from 0.26 (all time) to 0.36 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HEI : $45.63B AMAT : $393.24B
EPS HEI : $5.60 AMAT : $10.61
PE Ratio HEI : 57.77 AMAT : 46.38
PEG Ratio HEI : 2.60 AMAT : 5.90
PS Ratio HEI : 9.29 AMAT : 13.60
PB Ratio HEI : 8.46 AMAT : 16.45
Total Revenue (TTM) HEI : $4.91B AMAT : $29.02B
Gross Profit (TTM) HEI : $943.00M AMAT : $14.21B
EBITDA (TTM) HEI : $1.12B AMAT : $9.92B

Return for Risk

HEI vs. AMAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HEI

HEI Risk / Return Rank: 47
HEI Sharpe Ratio Rank: 49
HEI Sortino Ratio Rank: 45
HEI Omega Ratio Rank: 44
HEI Calmar Ratio Rank: 48
HEI Martin Ratio Rank: 49

AMAT

AMAT Risk / Return Rank: 96
AMAT Sharpe Ratio Rank: 98
AMAT Sortino Ratio Rank: 94
AMAT Omega Ratio Rank: 95
AMAT Calmar Ratio Rank: 97
AMAT Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HEI vs. AMAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HEICO Corporation (HEI) and Applied Materials, Inc. (AMAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HEI	AMAT	Difference
Sharpe ratio: Return per unit of total volatility	0.21	4.15	-3.95
Sortino ratio: Return per unit of downside risk	0.54	3.81	-3.27
Omega ratio: Gain probability vs. loss probability	1.07	1.55	-0.48
Calmar ratio: Return relative to maximum drawdown	0.25	9.29	-9.05
Martin ratio: Return relative to average drawdown	0.60	26.48	-25.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEI vs. AMAT - Sharpe Ratio Comparison

The current HEI Sharpe Ratio is 0.21, which is lower than the AMAT Sharpe Ratio of 4.15. The chart below compares the historical Sharpe Ratios of HEI and AMAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HEI	AMAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	4.15	-3.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.70	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.86	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.43	+0.09

Drawdowns

HEI vs. AMAT - Drawdown Comparison

The maximum HEI drawdown since its inception was -75.50%, smaller than the maximum AMAT drawdown of -85.22%. Use the drawdown chart below to compare losses from any high point for HEI and AMAT.

Drawdown Indicators

	HEI	AMAT	Difference
Max Drawdown Largest peak-to-trough decline	-75.50%	-85.22%	+9.72%
Max Drawdown (1Y) Largest decline over 1 year	-27.11%	-21.37%	-5.74%
Max Drawdown (3Y) Largest decline over 3 years	-27.11%	-49.88%	+22.77%
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	-55.14%	+28.03%
Max Drawdown (10Y) Largest decline over 10 years	-57.73%	-55.14%	-2.59%
Current Drawdown Current decline from peak	-9.65%	-1.90%	-7.75%
Average Drawdown Average peak-to-trough decline	-19.96%	-38.80%	+18.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.14%	7.49%	+3.65%

Volatility

HEI vs. AMAT - Volatility Comparison

The current volatility for HEICO Corporation (HEI) is 13.61%, while Applied Materials, Inc. (AMAT) has a volatility of 19.01%. This indicates that HEI experiences smaller price fluctuations and is considered to be less risky than AMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEI	AMAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.61%	19.01%	-5.40%
Volatility (6M) Calculated over the trailing 6-month period	27.21%	37.52%	-10.31%
Volatility (1Y) Calculated over the trailing 1-year period	32.79%	47.94%	-15.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.59%	43.93%	-16.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.61%	42.81%	-12.20%

Dividends

HEI vs. AMAT - Dividend Comparison

HEI's dividend yield for the trailing twelve months is around 0.07%, less than AMAT's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMAT Applied Materials, Inc.	0.39%	0.69%	0.93%	0.75%	1.05%	0.60%	1.01%	1.36%	2.14%	0.78%	1.24%	2.14%
HEI HEICO Corporation	0.07%	0.07%	0.09%	0.11%	0.12%	0.12%	0.12%	0.12%	0.14%	0.08%	0.22%	0.28%

Financials

HEI vs. AMAT - Profitability Comparison

The chart below illustrates the profitability comparison between HEICO Corporation and Applied Materials, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HEI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HEICO Corporation reported a gross profit of -454.96M and revenue of 1.38B. Therefore, the gross margin over that period was -33.1%.

AMAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a gross profit of 3.95B and revenue of 7.91B. Therefore, the gross margin over that period was 49.9%.

HEI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HEICO Corporation reported an operating income of 350.44M and revenue of 1.38B, resulting in an operating margin of 25.5%.

AMAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported an operating income of 2.52B and revenue of 7.91B, resulting in an operating margin of 31.9%.

HEI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HEICO Corporation reported a net income of 233.80M and revenue of 1.38B, resulting in a net margin of 17.0%.

AMAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a net income of 2.81B and revenue of 7.91B, resulting in a net margin of 35.5%.

Frequently Asked Questions

Can I hold both HEI and AMAT in my portfolio?

HEI and AMAT have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEI or AMAT?

AMAT has higher volatility (19.01%) compared to HEI (13.61%). In terms of maximum drawdown, HEI dropped -75.50% vs AMAT's -85.22%.

Which has better risk-adjusted returns?

AMAT currently has the higher Sharpe Ratio (4.15 vs 0.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.