LHX vs. HEI

Last updated Jun 9, 2026

LHX (L3Harris Technologies, Inc.) and HEI (HEICO Corporation) are both stocks. Both operate in the Aerospace & Defense industry within the Industrials sector. Over the past 10 years, LHX returned 16.23%/yr vs 25.42%/yr for HEI. At a 0.32 correlation, their price movements are largely independent.

Performance

LHX vs. HEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L3Harris Technologies, Inc. (LHX) and HEICO Corporation (HEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LHX achieves a 3.68% return, which is significantly higher than HEI's 0.01% return. Over the past 10 years, LHX has underperformed HEI with an annualized return of 16.23%, while HEI has yielded a comparatively higher 25.42% annualized return.

LHX

• 1D: -1.86%
• 1M: 1.23%
• YTD: 3.68%
• 6M: 8.07%
• 1Y: 25.68%
• 3Y*: 19.34%
• 5Y*: 8.93%
• 10Y*: 16.23%

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%

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

LHX vs. HEI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LHX L3Harris Technologies, Inc.	3.68%	42.28%	1.88%	3.67%	-0.48%	14.98%	-2.76%	49.21%	-3.38%	40.80%
HEI HEICO Corporation	0.01%	36.22%	33.05%	16.56%	6.67%	9.06%	16.16%	47.54%	28.51%	53.04%

Correlation

The correlation between LHX and HEI is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 18, 1992	0.32

The correlation between LHX and HEI shifts across timeframes, from 0.32 (all time) to 0.47 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS LHX : $12.29 HEI : $5.60
PE Ratio LHX : 24.58 HEI : 57.77
PEG Ratio LHX : 12.60 HEI : 2.60
PS Ratio LHX : 1.89 HEI : 9.29
Total Revenue (TTM) LHX : $22.48B HEI : $4.91B
Gross Profit (TTM) LHX : $5.50B HEI : $943.00M
EBITDA (TTM) LHX : $3.32B HEI : $1.12B

Return for Risk

LHX vs. HEI — Risk / Return Rank

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

LHX

LHX Risk / Return Rank: 69
LHX Sharpe Ratio Rank: 74
LHX Sortino Ratio Rank: 68
LHX Omega Ratio Rank: 65
LHX Calmar Ratio Rank: 67
LHX Martin Ratio Rank: 70

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

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.

LHX vs. HEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L3Harris Technologies, Inc. (LHX) and HEICO Corporation (HEI). 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.

	LHX	HEI	Difference
Sharpe ratio: Return per unit of total volatility	1.06	0.21	+0.86
Sortino ratio: Return per unit of downside risk	1.58	0.54	+1.04
Omega ratio: Gain probability vs. loss probability	1.19	1.07	+0.12
Calmar ratio: Return relative to maximum drawdown	1.25	0.25	+1.01
Martin ratio: Return relative to average drawdown	3.41	0.60	+2.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LHX vs. HEI - Sharpe Ratio Comparison

The current LHX Sharpe Ratio is 1.06, which is higher than the HEI Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of LHX and HEI, 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

	LHX	HEI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.21	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.64	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.83	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.51	-0.19

Drawdowns

LHX vs. HEI - Drawdown Comparison

The maximum LHX drawdown since its inception was -69.82%, smaller than the maximum HEI drawdown of -75.50%. Use the drawdown chart below to compare losses from any high point for LHX and HEI.

Drawdown Indicators

	LHX	HEI	Difference
Max Drawdown Largest peak-to-trough decline	-69.82%	-75.50%	+5.68%
Max Drawdown (1Y) Largest decline over 1 year	-20.55%	-27.11%	+6.56%
Max Drawdown (3Y) Largest decline over 3 years	-25.98%	-27.11%	+1.13%
Max Drawdown (5Y) Largest decline over 5 years	-38.16%	-27.11%	-11.05%
Max Drawdown (10Y) Largest decline over 10 years	-38.16%	-57.73%	+19.57%
Current Drawdown Current decline from peak	-19.58%	-9.65%	-9.93%
Average Drawdown Average peak-to-trough decline	-21.33%	-19.96%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.56%	11.14%	-3.58%

Volatility

LHX vs. HEI - Volatility Comparison

The current volatility for L3Harris Technologies, Inc. (LHX) is 6.66%, while HEICO Corporation (HEI) has a volatility of 13.61%. This indicates that LHX experiences smaller price fluctuations and is considered to be less risky than HEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LHX	HEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	13.61%	-6.95%
Volatility (6M) Calculated over the trailing 6-month period	19.74%	27.21%	-7.47%
Volatility (1Y) Calculated over the trailing 1-year period	24.33%	32.79%	-8.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.91%	27.59%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.42%	30.61%	-5.19%

Dividends

LHX vs. HEI - Dividend Comparison

LHX's dividend yield for the trailing twelve months is around 1.62%, more than HEI's 0.07% 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%
LHX L3Harris Technologies, Inc.	1.62%	1.64%	2.21%	2.17%	2.15%	1.91%	1.80%	1.45%	1.86%	1.55%	2.01%	2.23%

Financials

LHX vs. HEI - Profitability Comparison

The chart below illustrates the profitability comparison between L3Harris Technologies, Inc. and HEICO Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

LHX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, L3Harris Technologies, Inc. reported a gross profit of 1.40B and revenue of 5.74B. Therefore, the gross margin over that period was 24.4%.

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%.

LHX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, L3Harris Technologies, Inc. reported an operating income of 652.00M and revenue of 5.74B, resulting in an operating margin of 11.4%.

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%.

LHX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, L3Harris Technologies, Inc. reported a net income of 512.00M and revenue of 5.74B, resulting in a net margin of 8.9%.

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%.

Frequently Asked Questions

Can I hold both LHX and HEI in my portfolio?

LHX and HEI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LHX or HEI?

HEI has higher volatility (13.61%) compared to LHX (6.66%). In terms of maximum drawdown, LHX dropped -69.82% vs HEI's -75.50%.

Which has better risk-adjusted returns?

LHX currently has the higher Sharpe Ratio (1.06 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.