HEICO CORP

Listed Company

HEICIK 0000046619NYSELarge AcceleratedAircraft Engines & Engine PartsFloridaFY ends Oct 31

Period

FY 2025

Revenue

$4.49B

Net Income

$690.38M

Total Assets

$8.50B

Equity

$4.31B

Shares Out

55.05M

Op. Cash Flow

$934.27M

Business

HEICO CORP designs, engineers, manufactures and distributes aerospace and electronic products and provides repair and overhaul services through its subsidiaries. Its main offerings include FAA-approved jet engine and aircraft component replacement parts, repair/overhaul and specialty subcontract manufacturing, together with a broad range of electronic, microwave, electro‑optical, power conversion, memory and harsh‑environment interconnect products. The business operates through two segments: the Flight Support Group, focused on aircraft parts, repair and specialty aerospace components, and the Electronic Technologies Group, focused on mission‑critical electronic subsystems and components. HEICO sells to domestic and foreign commercial airlines, MROs, OEMs, defense and government customers, satellite and spacecraft manufacturers and other industrial end markets via direct sales, distributors and prime contractor relationships.

Summary from filing dated 2025-12-22

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Net sales	4,485	3,858	2,968	2,208	1,866
Cost of sales	2,699	2,356	1,815	1,346	1,138
Selling, general and administrative expenses	767	677	528	366	335
Total operating costs and expenses	3,466	3,033	2,343	1,711	1,473
Operating income	1,019	824	625	497	393
Interest expense	−130	−149	−73	−6	−7
Other income	4	2	3	565,000	1
Income before taxes and noncontrolling interests	894	678	555	491	387
Income tax expense	148	119	111	100	57
Net income from consolidated operations	746	559	444	391	330
Less: Net income attributable to noncontrolling interests	55	45	41	39	26
Net income attributable to HEICO	690	514	404	352	304
Basic (in dollars per share)	4.97	3.71	2.94	2.59	2.25
Diluted (in dollars per share)	4.9	3.67	2.91	2.55	2.21
Basic (in shares)	139	138	137	136	135
Diluted (in shares)	141	140	139	138	138

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Cash and cash equivalents	218	162	171	140	108
Accounts receivable, net	638	538	509	295	245
Contract assets	119	112	112	94	80
Inventories, net	1,295	1,171	1,014	582	478
Prepaid expenses and other current assets	86	79	50	42	26
Total current assets	2,356	2,062	1,855	1,153	937
Property, plant and equipment, net	432	339	322	226	194
Goodwill	3,662	3,380	3,274	1,672	1,450
Intangible assets, net	1,471	1,335	1,357	733	582
Other assets	579	476	386	311	335
Total assets	8,500	7,593	7,195	4,095	3,498
Current maturities of long-term debt	3	4	18	2	2
Trade accounts payable	231	198	206	117	86
Accrued expenses and other current liabilities	578	428	433	290	207
Income taxes payable	20	34	9	12	964,000
Total current liabilities	832	664	665	421	295
Long-term debt, net of current maturities	2,165	2,225	2,460	289	235
Deferred income taxes	107	114	132	71	41
Other long-term liabilities	550	526	380	339	378
Total liabilities	3,654	3,529	3,637	1,120	949
Commitments and contingencies	—	—	—	—	—
Redeemable noncontrolling interests	467	366	365	328	253
Preferred Stock	0	0	0	0	0
Capital in excess of par value	651	599	579	397	321
Deferred compensation obligation	8	7	6	5	5
HEICO stock held by irrevocable trust	−8	−7	−6	−5	−5
Accumulated other comprehensive (loss) income	6	−26	−40	−46	−9
Retained earnings	3,648	3,062	2,606	2,254	1,950
Total HEICO shareholders' equity	4,305	3,637	3,146	2,606	2,263
Noncontrolling interests	74	61	47	42	34
Total shareholders' equity	4,379	3,697	3,193	2,648	2,297
Total liabilities and equity	8,500	7,593	7,195	4,095	3,498

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-10-31	FY 2024 2024-10-31	FY 2023 2023-10-31	FY 2022 2022-10-31	FY 2021 2021-10-31
Depreciation and amortization	196	175	130	96	93
Share-based compensation expense	34	19	15	13	9
Employer contributions to HEICO Savings and Investment Plan	20	18	15	12	10
Change in accrued contingent consideration	13	−10	−686,000	−8	1
Impairment of Intangible Assets	0	8	0	0	—
Amendment and termination of contingent consideration agreement	0	0	−9	0	0
Payment for Contingent Consideration Liability, Operating Activities	−2	−6	−6	0	0
Deferred Income Tax Expense (Benefit)	−49	−22	−27	9	−16
Accounts receivable	−76	−21	−66	−29	−27
Contract assets	−7	1	−12	−4	376,000
Inventories	−45	−133	−125	−89	−10
Prepaid expenses and other current assets	15	−23	6	−10	−5
Trade accounts payable	28	−10	11	26	7
Accrued expenses and other current liabilities	45	22	73	34	34
Income taxes payable	−19	20	−5	12	3
Change in long-term liabilities and assets related to HEICO LCP	24	22	14	15	13
Other	11	54	−10	828,000	2
Net cash provided by operating activities	934	672	449	468	444
Acquisitions, net of cash acquired	−630	−219	−2,422	−347	−137
Capital expenditures	−73	−58	−49	−32	−36
Net Investment Related to HEICO LCP	−33	−20	−19	−15	−14
Other	4	4	6	−1	3
Net cash used in investing activities	−732	−293	−2,484	−396	−183
Payments on revolving credit facility	−550	−365	−989	−212	−505
Proceeds from Issuance of Senior Long-Term Debt	0	0	1,189	0	0
Borrowings on revolving credit facility	495	130	1,964	262	0
Distributions to noncontrolling interests	−38	−34	−37	−25	−28
Cash dividends paid	−32	−29	−27	−24	−23
Redemption of common stock related to stop option exercises	−22	−30	−15	−26	−4
Payment for Contingent Consideration Liability, Financing Activities	−6	−25	−13	−320,000	0
Acquisitions of noncontrolling interests	−6	−27	−3	−9	—
Payments on short-term debt, net	0	−14	−2	0	—
Debt issuance costs	0	0	−10	−1	−1
Proceeds from stock option exercises	13	8	7	2	5
Other	−4	−4	−312,000	−616,000	−1
Net cash (used in) provided by financing activities	−151	−389	2,065	−34	−559
Effect of exchange rate changes on cash	4	1	2	−7	−216,000
Net increase (decrease) in cash and cash equivalents	56	−9	32	31	−299

Filings

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