HEICO just reported earnings and it was good! HEICO shares were up 12% on the earnings

Revenue: $1.38 billion, up 25% year over year.

Net Income: $233.8 million, up 49% year over year.

Diluted EPS: $1.66, beating the consensus estimate of $1.33 by $0.33.

Operating Margin: Expanded to 25.5%, up from 22.6% in the same quarter last year.

Flight Support Group: Achieved record quarterly net sales of $929.4 million (up 21%) and record operating income of $243.1 million (up 31%).

Electronic Technologies Group: Delivered record quarterly net sales of $459.5 million (up 34%) and record operating income of $121.8 million (up 56%).

Valuation: That's common complaint on HEICO but I think that's the premium that the market is willing to pay for a owner-operator and market monopoly like HEICO. While the forward PE is high at 56x, the historical is actually around 53x so not too much difference.

Using DCF, I view the fair value to be around $300-310. With the current price of $348, I place it as slightly overvalued. I am continuing to hold on.