HEI vs. WM

Last updated Jun 9, 2026

HEI (HEICO Corporation) and WM (Waste Management, Inc.) are both stocks. Both are in the Industrials sector — HEI in Aerospace & Defense, WM in Waste Management. Over the past 10 years, HEI returned 25.42%/yr vs 15.25%/yr for WM. At a 0.23 correlation, their price movements are largely independent.

Performance

HEI vs. WM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HEICO Corporation (HEI) and Waste Management, Inc. (WM). 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 higher than WM's -0.81% return. Over the past 10 years, HEI has outperformed WM with an annualized return of 25.42%, while WM has yielded a comparatively lower 15.25% 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%

WM

• 1D: -1.93%
• 1M: 0.79%
• YTD: -0.81%
• 6M: 3.67%
• 1Y: -7.08%
• 3Y*: 11.63%
• 5Y*: 10.86%
• 10Y*: 15.25%

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

HEI vs. WM - 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%
WM Waste Management, Inc.	-0.81%	10.50%	14.28%	16.20%	-4.49%	43.82%	5.46%	30.45%	5.32%	24.46%

Correlation

The correlation between HEI and WM is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Mar 17, 1992	0.23

The correlation between HEI and WM shifts across timeframes, from -0.04 (1 year) to 0.31 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap HEI : $45.63B WM : $87.41B
EPS HEI : $5.60 WM : $6.91
PE Ratio HEI : 57.77 WM : 31.28
PEG Ratio HEI : 2.60 WM : 2.56
PS Ratio HEI : 9.29 WM : 3.44
PB Ratio HEI : 8.46 WM : 8.72
Total Revenue (TTM) HEI : $4.91B WM : $25.41B
Gross Profit (TTM) HEI : $943.00M WM : $5.61B
EBITDA (TTM) HEI : $1.12B WM : $6.96B

Return for Risk

HEI vs. WM — 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

WM

WM Risk / Return Rank: 24
WM Sharpe Ratio Rank: 26
WM Sortino Ratio Rank: 22
WM Omega Ratio Rank: 23
WM Calmar Ratio Rank: 28
WM Martin Ratio Rank: 23

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. WM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HEICO Corporation (HEI) and Waste Management, Inc. (WM). 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	WM	Difference
Sharpe ratio: Return per unit of total volatility	0.21	-0.38	+0.59
Sortino ratio: Return per unit of downside risk	0.54	-0.41	+0.95
Omega ratio: Gain probability vs. loss probability	1.07	0.95	+0.12
Calmar ratio: Return relative to maximum drawdown	0.25	-0.43	+0.67
Martin ratio: Return relative to average drawdown	0.60	-0.95	+1.55
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. WM - Sharpe Ratio Comparison

The current HEI Sharpe Ratio is 0.21, which is higher than the WM Sharpe Ratio of -0.38. The chart below compares the historical Sharpe Ratios of HEI and WM, 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	WM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	-0.38	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.59	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.78	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.36	+0.15

Drawdowns

HEI vs. WM - Drawdown Comparison

The maximum HEI drawdown since its inception was -75.50%, roughly equal to the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for HEI and WM.

Drawdown Indicators

	HEI	WM	Difference
Max Drawdown Largest peak-to-trough decline	-75.50%	-77.85%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-27.11%	-16.72%	-10.39%
Max Drawdown (3Y) Largest decline over 3 years	-27.11%	-18.14%	-8.97%
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	-18.14%	-8.97%
Max Drawdown (10Y) Largest decline over 10 years	-57.73%	-30.07%	-27.66%
Current Drawdown Current decline from peak	-9.65%	-11.59%	+1.94%
Average Drawdown Average peak-to-trough decline	-19.96%	-17.69%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.14%	7.49%	+3.65%

Volatility

HEI vs. WM - Volatility Comparison

HEICO Corporation (HEI) has a higher volatility of 13.61% compared to Waste Management, Inc. (WM) at 5.91%. This indicates that HEI's price experiences larger fluctuations and is considered to be riskier than WM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEI	WM	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.61%	5.91%	+7.70%
Volatility (6M) Calculated over the trailing 6-month period	27.21%	13.69%	+13.52%
Volatility (1Y) Calculated over the trailing 1-year period	32.79%	18.73%	+14.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.59%	18.55%	+9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.61%	19.51%	+11.10%

Dividends

HEI vs. WM - Dividend Comparison

HEI's dividend yield for the trailing twelve months is around 0.07%, less than WM's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
WM Waste Management, Inc.	1.64%	1.50%	1.49%	1.56%	1.66%	1.38%	1.85%	1.80%	2.09%	1.97%	2.31%	2.89%

Financials

HEI vs. WM - Profitability Comparison

The chart below illustrates the profitability comparison between HEICO Corporation and Waste Management, 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%.

WM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported a gross profit of 0.00 and revenue of 6.23B. Therefore, the gross margin over that period was 0.0%.

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%.

WM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported an operating income of 1.11B and revenue of 6.23B, resulting in an operating margin of 17.9%.

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%.

WM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported a net income of 723.00M and revenue of 6.23B, resulting in a net margin of 11.6%.

Frequently Asked Questions

Can I hold both HEI and WM in my portfolio?

HEI and WM have a correlation of -0.04, 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 WM?

HEI has higher volatility (13.61%) compared to WM (5.91%). In terms of maximum drawdown, HEI dropped -75.50% vs WM's -77.85%.

Which has better risk-adjusted returns?

HEI currently has the higher Sharpe Ratio (0.21 vs -0.38), 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.