Cash flow HEICO Corporation

Equities

HEI

US4228061093

Aerospace & Defense

Market Closed - Nyse Other stock markets 21:00:02 06/02/2026 GMT			5-day change	1st Jan Change
326.67 ^USD	+1.36%		-1.28%	+0.95%

02-02	HEICO to Continue Market Share Gains With Acquisitions, Expanding Portfolio, RBC Says	MT
01-27	HEICO Closes Axillon Fuel Containment Business Acquisition	MT

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Published financial data: HEICO CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: October	2021	2022	2023	2024	2025
Revenues	1.87B	2.21B	2.97B	3.86B	4.49B
Total Revenues	1.87B	2.21B	2.97B	3.86B	4.49B
Cost of Goods Sold, Total	1.14B	1.35B	1.81B	2.36B	2.7B
Gross Profit	727M	863M	1.15B	1.5B	1.79B
Selling General & Admin Expenses, Total	333M	374M	516M	680M	755M
Other Operating Expenses, Total	333M	374M	516M	680M	755M
Operating Income	394M	489M	637M	822M	1.03B
Interest Expense, Total	-7.28M	-6.39M	-72.98M	-149M	-130M
Net Interest Expenses	-7.28M	-6.39M	-72.98M	-149M	-130M
Other Non Operating Income (Expenses)	1.44M	565K	2.93M	2.44M	4.43M
EBT, Excl. Unusual Items	388M	483M	567M	675M	906M
Merger & Related Restructuring Charges	-	-	-21.6M	-	-
Asset Writedown	-	-	-	-7.5M	-
Other Unusual Items	-1.25M	7.63M	9.74M	9.88M	-12.92M
EBT, Incl. Unusual Items	387M	491M	555M	678M	894M
Income Tax Expense	57.3M	100M	111M	118M	148M
Earnings From Continuing Operations	330M	391M	444M	559M	746M
Net Income to Company	330M	391M	444M	559M	746M
Minority Interest	-25.54M	-38.95M	-40.79M	-44.98M	-55.17M
Net Income - (IS)	304M	352M	404M	514M	690M
Net Income to Common Incl Extra Items	304M	352M	404M	514M	690M
Net Income to Common Excl. Extra Items	304M	352M	404M	514M	690M
Per Share Items
Net EPS - Basic	2.25	2.59	2.94	3.71	4.97
Basic EPS - Continuing Operations	2.25	2.59	2.94	3.71	4.97
Basic Weighted Average Shares Outstanding	135M	136M	137M	138M	139M
Net EPS - Diluted	2.21	2.55	2.91	3.67	4.9
Diluted EPS - Continuing Operations	2.21	2.55	2.91	3.67	4.9
Diluted Weighted Average Shares Outstanding	138M	138M	139M	140M	141M
Normalized Basic EPS	1.6	1.93	2.29	2.72	3.68
Normalized Diluted EPS	1.58	1.91	2.26	2.69	3.63
Dividend Per Share	0.17	0.18	0.2	0.21	0.23
Payout Ratio	7.56	6.96	6.78	5.65	4.63
Supplemental Items
EBITDA	487M	586M	767M	997M	1.23B
EBITA	455M	552M	723M	944M	1.17B
EBIT	394M	489M	637M	822M	1.03B
EBITDAR	508M	609M	795M	1.04B	1.27B
Effective Tax Rate - (Ratio)	14.8	20.45	19.97	17.49	16.56
Current Domestic Taxes	59.48M	76.88M	115M	116M	172M
Current Foreign Taxes	13.46M	14.65M	22.71M	24.14M	24.54M
Total Current Taxes	72.94M	91.52M	137M	141M	197M
Deferred Domestic Taxes	-13.35M	9.28M	-23.36M	-19.95M	-45.62M
Deferred Foreign Taxes	-2.29M	-407K	-3.17M	-2.05M	-2.95M
Total Deferred Taxes	-15.64M	8.88M	-26.53M	-22M	-48.56M
Normalized Net Income	217M	263M	314M	377M	511M
Interest on Long-Term Debt	453K	578K	1.21M	1.66M	1.33M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	68.88M	76.06M	95.77M	111M	121M
Net Rental Expense, Total	21.27M	23.43M	28.24M	38.23M	41.79M
Imputed Operating Lease Interest Expense	2.23M	3.45M	11.05M	18.38M	18.58M
Imputed Operating Lease Depreciation	19.04M	19.98M	17.19M	19.85M	23.22M
Stock-Based Comp., SG&A Exp. (Total)	-	-	-	18.78M	34.38M
Stock-Based Comp., Other (Total)	19.15M	24.83M	30.75M	17.62M	20.44M
Total Stock-Based Compensation	19.15M	24.83M	30.75M	36.39M	54.82M

Fiscal Period: October	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	108M	140M	171M	162M	218M
Total Cash And Short Term Investments	108M	140M	171M	162M	218M
Accounts Receivable, Total	325M	389M	621M	651M	757M
Total Receivables	325M	389M	621M	651M	757M
Inventory	478M	582M	1.01B	1.17B	1.3B
Prepaid Expenses	26.04M	41.93M	49.84M	78.52M	86.38M
Deferred Tax Assets Current	-	-	-	-	-
Total Current Assets	937M	1.15B	1.86B	2.06B	2.36B
Gross Property Plant And Equipment	525M	593M	756M	827M	974M
Accumulated Depreciation	-257M	-277M	-313M	-356M	-408M
Net Property Plant And Equipment	268M	316M	443M	471M	567M
Goodwill	1.45B	1.67B	3.27B	3.38B	3.66B
Other Intangibles, Total	582M	733M	1.36B	1.33B	1.47B
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	260M	221M	265M	345M	444M
Total Assets	3.5B	4.1B	7.2B	7.59B	8.5B
Liabilities
Accounts Payable, Total	85.54M	117M	206M	198M	231M
Accrued Expenses, Total	134M	149M	225M	244M	391M
Short-term Borrowings	-	-	13.53M	-	-
Current Portion of Long-Term Debt	34K	34K	15K	47K	61K
Current Portion of Leases	15.36M	16.28M	24.76M	27.48M	29.03M
Current Income Taxes Payable	964K	12.46M	8.55M	33.53M	19.98M
Unearned Revenue Current, Total	32.74M	58.76M	87.56M	83.9M	79.53M
Other Current Liabilities	25.81M	68.01M	99.92M	76.43M	80.91M
Total Current Liabilities	295M	421M	665M	664M	832M
Long-Term Debt	225M	275M	2.44B	2.2B	2.15B
Long-Term Leases	71.59M	90.34M	128M	135M	129M
Unearned Revenue Non Current	-	-	-	61.84M	84.71M
Pension & Other Post Retirement Benefits	863K	-182K	-	-	-
Deferred Tax Liability Non Current	40.76M	71.16M	132M	114M	107M
Other Non Current Liabilities	316M	262M	275M	351M	350M
Total Liabilities	949M	1.12B	3.64B	3.53B	3.65B
Common Stock, Total	1.36M	1.37M	1.38M	1.39M	1.39M
Additional Paid In Capital	321M	397M	579M	599M	651M
Retained Earnings	1.95B	2.25B	2.61B	3.06B	3.65B
Comprehensive Income and Other	-8.55M	-46.5M	-40.18M	-26.08M	5.58M
Total Common Equity	2.26B	2.61B	3.15B	3.64B	4.31B
Minority Interest	286M	370M	412M	427M	541M
Total Equity	2.55B	2.98B	3.56B	4.06B	4.85B
Total Liabilities And Equity	3.5B	4.1B	7.2B	7.59B	8.5B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	136M	137M	138M	139M	139M
ECS Total Common Shares Outstanding	135M	137M	138M	139M	139M
Book Value / Share	16.7	19.08	22.76	26.2	30.9
Tangible Book Value	230M	200M	-1.49B	-1.08B	-828M
Tangible Book Value Per Share	1.7	1.47	-10.75	-7.77	-5.94
Total Debt	312M	382M	2.6B	2.37B	2.31B
Net Debt	204M	242M	2.43B	2.2B	2.09B
Debt Equivalent of Unfunded Proj. Benefit Obligation	863K	-182K	-433K	-1.29M	-1.22M
Debt Equivalent Oper. Leases	170M	187M	226M	306M	334M
Minority Interest, Total (Incl. Fin. Div)	286M	370M	412M	427M	541M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	194M	238M	311M	387M	460M
Inventories - Work In Process, Total	44.89M	59.74M	79.79M	99.11M	120M
Inventories - Finished Goods, Total	239M	285M	622M	685M	715M
Land - (BS)	11.36M	17.58M	19.71M	19.97M	85.13M
Buildings, Total	134M	149M	202M	218M	256M
Machinery, Total	297M	322M	387M	422M	477M
Full Time Employees	5.6K	6.5K	9.6K	10K	11.1K
Accumulated Allowance for Doubtful Accounts (Supple)	10.87M	8.33M	12.62M	11.79M	10.25M
Order Backlog	977M	1.38B	1.86B	1.92B	2.11B

Fiscal Period: October	2021	2022	2023	2024	2025
Net Income	304M	352M	404M	514M	690M
Depreciation & Amortization - CF	31.72M	33.83M	44.14M	53.03M	58.18M
Amortization of Goodwill and Intangible Assets - (CF)	61.3M	62.5M	85.9M	122M	138M
Depreciation & Amortization, Total	93.02M	96.33M	130M	175M	196M
Asset Writedown & Restructuring Costs	-	-	-	7.5M	-
Stock-Based Compensation (CF)	19.15M	24.83M	30.75M	36.39M	54.82M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	13.39M	41.02M	-11.81M	60.41M	28.19M
Change In Accounts Receivable	-26.92M	-33.42M	-77.24M	-19.52M	-82.09M
Change In Inventories	-10.12M	-89.19M	-125M	-133M	-44.85M
Change In Accounts Payable	6.91M	25.57M	10.98M	-9.82M	27.59M
Change In Income Taxes	2.82M	11.6M	-4.5M	20.22M	-19.43M
Change in Other Net Operating Assets	41.62M	39.44M	91.7M	20.68M	83.56M
Cash from Operations	444M	468M	449M	672M	934M
Capital Expenditure	-36.18M	-31.98M	-49.43M	-58.26M	-72.89M
Cash Acquisitions	-136M	-347M	-2.42B	-219M	-630M
Other Investing Activities, Total	-10.77M	-16.54M	-13.24M	-15.65M	-28.98M
Cash from Investing	-183M	-396M	-2.48B	-293M	-732M
Long-Term Debt Issued, Total	-	262M	3.15B	130M	495M
Total Debt Issued	-	262M	3.15B	130M	495M
Short Term Debt Repaid, Total	-	-	-	-13.92M	-
Long-Term Debt Repaid, Total	-505M	-212M	-989M	-365M	-550M
Total Debt Repaid	-505M	-212M	-989M	-379M	-550M
Issuance of Common Stock	5.34M	2.35M	6.71M	7.95M	13.21M
Repurchase of Common Stock	-3.79M	-25.95M	-14.85M	-29.91M	-22.39M
Common Dividends Paid	-23M	-24.47M	-27.37M	-29.07M	-31.97M
Common & Preferred Stock Dividends Paid	-23M	-24.47M	-27.37M	-29.07M	-31.97M
Other Financing Activities, Total	-32.52M	-35.77M	-63.9M	-89.44M	-54.54M
Cash from Financing	-559M	-33.83M	2.07B	-389M	-151M
Foreign Exchange Rate Adjustments	-216K	-6.99M	2.23M	1.28M	3.78M
Net Change in Cash	-299M	31.21M	31.54M	-8.94M	55.68M
Supplemental Items
Cash Interest Paid	7.36M	6.04M	54.14M	149M	129M
Cash Income Tax Paid (Refund)	66.67M	78.47M	135M	113M	207M
Levered Free Cash Flow	301M	332M	15.41M	367M	670M
Unlevered Free Cash Flow	306M	336M	61.03M	461M	751M
Change In Net Working Capital	16.76M	59.08M	449M	207M	71.81M
Net Debt Issued / Repaid	-505M	50M	2.16B	-249M	-55M

Fiscal Period: October	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.99	8.05	7.05	6.95	8.02
Return on Total Capital	8.36	9.83	8.37	8.16	9.5
Return On Equity %	13.79	14.14	13.6	14.67	16.74
Return on Common Equity	14.34	14.44	14.03	15.16	17.39
Margin Analysis
Gross Profit Margin %	38.99	39.07	38.86	38.93	39.83
SG&A Margin	17.86	16.92	17.39	17.62	16.82
EBITDA Margin %	26.11	26.52	25.85	25.86	27.38
EBITA Margin %	24.41	24.98	24.36	24.48	26.08
EBIT Margin %	21.13	22.15	21.47	21.31	23.01
Income From Continuing Operations Margin %	17.67	17.69	14.97	14.49	16.62
Net Income Margin %	16.31	15.92	13.6	13.33	15.39
Net Avail. For Common Margin %	16.31	15.92	13.6	13.33	15.39
Normalized Net Income Margin	11.64	11.92	10.57	9.77	11.4
Levered Free Cash Flow Margin	16.13	15.03	0.52	9.52	14.94
Unlevered Free Cash Flow Margin	16.38	15.21	2.06	11.94	16.75
Asset Turnover
Asset Turnover	0.53	0.58	0.53	0.52	0.56
Fixed Assets Turnover	7.55	7.56	7.82	8.44	8.65
Receivables Turnover (Average Receivables)	6.26	6.19	5.88	6.07	6.37
Inventory Turnover (Average Inventory)	2.42	2.54	2.27	2.16	2.19
Short Term Liquidity
Current Ratio	3.18	2.74	2.79	3.11	2.83
Quick Ratio	1.47	1.26	1.19	1.22	1.17
Operating Cash Flow to Current Liabilities	1.51	1.11	0.67	1.01	1.12
Days Sales Outstanding (Average Receivables)	58.29	58.99	62.08	60.32	57.28
Days Outstanding Inventory (Average Inventory)	150.91	143.84	160.53	169.69	166.79
Average Days Payable Outstanding	25.6	25.44	26.2	29.44	27.76
Cash Conversion Cycle (Average Days)	183.59	177.39	196.4	200.57	196.3
Long Term Solvency
Total Debt/Equity	12.25	12.83	73.17	58.23	47.64
Total Debt / Total Capital	10.91	11.37	42.25	36.8	32.27
LT Debt/Equity	11.64	12.28	72.09	57.55	47.04
Long-Term Debt / Total Capital	10.37	10.89	41.63	36.37	31.86
Total Liabilities / Total Assets	27.12	27.34	50.55	46.48	42.98
EBIT / Interest Expense	54.1	76.61	8.73	5.51	7.95
EBITDA / Interest Expense	69.79	95.36	10.9	6.94	9.78
(EBITDA - Capex) / Interest Expense	64.82	90.35	10.22	6.55	9.22
Total Debt / EBITDA	0.61	0.63	3.27	2.28	1.82
Net Debt / EBITDA	0.4	0.4	3.06	2.13	1.65
Total Debt / (EBITDA - Capex)	0.66	0.66	3.49	2.42	1.93
Net Debt / (EBITDA - Capex)	0.43	0.42	3.26	2.26	1.75
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.4	18.37	34.41	29.97	16.26
Gross Profit, 1 Yr. Growth %	6.64	18.6	33.7	30.19	18.96
EBITDA, 1 Yr. Growth %	4.6	20.19	31.03	30	23.12
EBITA, 1 Yr. Growth %	4.81	21.14	31.06	30.6	23.87
EBIT, 1 Yr. Growth %	4.5	24.12	30.25	29.01	25.53
Earnings From Cont. Operations, 1 Yr. Growth %	-1.82	18.46	13.76	25.81	33.35
Net Income, 1 Yr. Growth %	-3.11	15.6	14.76	27.38	34.29
Normalized Net Income, 1 Yr. Growth %	5.17	21.19	19.19	20.2	35.64
Diluted EPS Before Extra, 1 Yr. Growth %	-3.49	15.38	14.12	26.12	33.51
Accounts Receivable, 1 Yr. Growth %	19.98	19.64	59.65	4.82	16.31
Inventory, 1 Yr. Growth %	3.2	21.84	74.03	15.51	10.62
Net Property, Plant and Equip., 1 Yr. Growth %	18.72	17.66	40.42	6.24	20.35
Total Assets, 1 Yr. Growth %	-1.39	17.07	75.68	5.53	11.95
Tangible Book Value, 1 Yr. Growth %	1.18K	-13.02	-841.38	-27.42	-23.23
Common Equity, 1 Yr. Growth %	14.29	15.16	20.71	15.6	18.38
Cash From Operations, 1 Yr. Growth %	8.54	5.35	-4.09	49.84	38.95
Capital Expenditures, 1 Yr. Growth %	57.73	-11.61	54.57	17.86	25.1
Levered Free Cash Flow, 1 Yr. Growth %	21.14	10.25	-95.36	2.28K	82.39
Unlevered Free Cash Flow, 1 Yr. Growth %	19.03	9.91	-81.83	654.8	63.07
Dividend Per Share, 1 Yr. Growth %	6.25	5.88	11.11	5	9.52
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.73	11.16	26.13	32.17	22.93
Gross Profit, 2 Yr. CAGR %	-5.46	12.46	25.93	31.93	24.45
EBITDA, 2 Yr. CAGR %	-5.3	12.13	25.5	30.51	26.51
EBITA, 2 Yr. CAGR %	-5.82	12.68	26	30.83	27.19
EBIT, 2 Yr. CAGR %	-7.41	13.89	27.15	29.63	27.26
Earnings From Cont. Operations, 2 Yr. CAGR %	-4.26	7.85	16.09	19.64	29.53
Net Income, 2 Yr. CAGR %	-3.68	5.83	15.18	20.91	30.79
Normalized Net Income, 2 Yr. CAGR %	-5.56	12.9	20.19	19.69	27.68
Diluted EPS Before Extra, 2 Yr. CAGR %	-3.84	5.52	14.75	19.97	29.76
Accounts Receivable, 2 Yr. CAGR %	1.18	19.81	38.21	29.37	10.42
Inventory, 2 Yr. CAGR %	6.65	12.14	45.62	41.79	13.04
Net Property, Plant and Equip., 2 Yr. CAGR %	24.4	18.19	28.54	22.14	13.07
Total Assets, 2 Yr. CAGR %	8.55	7.44	43.41	36.16	8.69
Tangible Book Value, 2 Yr. CAGR %	22.76	233.94	153.95	131.96	-25.36
Common Equity, 2 Yr. CAGR %	16.53	14.72	17.9	18.13	16.98
Cash From Operations, 2 Yr. CAGR %	0.76	6.94	0.52	19.88	44.29
Capital Expenditures, 2 Yr. CAGR %	11.82	18.07	16.89	34.97	21.43
Levered Free Cash Flow, 2 Yr. CAGR %	5.13	15.56	-77.37	5.21	559.3
Unlevered Free Cash Flow, 2 Yr. CAGR %	3.38	14.38	-55.31	17.11	250.83
Dividend Per Share, 2 Yr. CAGR %	10.19	6.07	8.47	8.01	7.24
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.62	2.42	18.43	27.4	26.64
Gross Profit, 3 Yr. CAGR %	1.74	1.96	19.14	27.33	27.46
EBITDA, 3 Yr. CAGR %	2.52	2.53	18.1	26.98	28
EBITA, 3 Yr. CAGR %	2.33	2.43	18.5	27.52	28.47
EBIT, 3 Yr. CAGR %	1.68	2.09	19.1	27.77	28.25
Earnings From Cont. Operations, 3 Yr. CAGR %	4.9	2.78	9.78	19.24	24.04
Net Income, 3 Yr. CAGR %	5.48	2.36	8.73	19.11	25.21
Normalized Net Income, 3 Yr. CAGR %	3.59	2.63	14.96	20.19	24.79
Diluted EPS Before Extra, 3 Yr. CAGR %	5.17	2.18	8.31	18.42	24.32
Accounts Receivable, 3 Yr. CAGR %	8.93	6.99	31.84	26.04	24.86
Inventory, 3 Yr. CAGR %	5.98	11.49	29.83	34.8	30.53
Net Property, Plant and Equip., 3 Yr. CAGR %	20.13	22.11	25.18	20.63	21.54
Total Assets, 3 Yr. CAGR %	9.65	11.32	26.58	29.47	27.56
Tangible Book Value, 3 Yr. CAGR %	1.1	9.44	335.64	67.27	60.45
Common Equity, 3 Yr. CAGR %	17.41	16.07	16.69	17.13	18.21
Cash From Operations, 3 Yr. CAGR %	10.57	2.27	3.13	14.83	25.93
Capital Expenditures, 3 Yr. CAGR %	-4.75	3.39	29.16	17.21	31.6
Levered Free Cash Flow, 3 Yr. CAGR %	12.28	6.81	-60.42	6.86	26.39
Unlevered Free Cash Flow, 3 Yr. CAGR %	10.72	5.52	-38.05	14.66	30.78
Dividend Per Share, 3 Yr. CAGR %	13.59	8.74	7.72	7.3	8.51
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	6.27	7.69	10.8	13.42	20.21
Gross Profit, 5 Yr. CAGR %	7.13	8.46	10.8	13.03	21.23
EBITDA, 5 Yr. CAGR %	7.99	9.46	11.16	12.92	21.4
EBITA, 5 Yr. CAGR %	8.14	9.7	11.22	12.96	21.9
EBIT, 5 Yr. CAGR %	7.74	9.71	11.19	12.33	22.3
Earnings From Cont. Operations, 5 Yr. CAGR %	13.36	13.47	9.24	9.22	17.29
Net Income, 5 Yr. CAGR %	14.26	13.59	9.26	9.41	17.07
Normalized Net Income, 5 Yr. CAGR %	8.48	9.76	9.93	9.14	19.89
Diluted EPS Before Extra, 5 Yr. CAGR %	13.56	13.23	8.9	8.96	16.43
Accounts Receivable, 5 Yr. CAGR %	9.95	11.82	19.81	15.44	22.82
Inventory, 5 Yr. CAGR %	10.8	11.13	20.35	22.74	22.83
Net Property, Plant and Equip., 5 Yr. CAGR %	17.14	19.43	23.43	22.12	20.19
Total Assets, 5 Yr. CAGR %	11.85	10.27	22.08	20.66	19.1
Tangible Book Value, 5 Yr. CAGR %	-3.07	-15.25	46.13	47.8	115.12
Common Equity, 5 Yr. CAGR %	18.63	17.55	17.61	16.89	16.8
Cash From Operations, 5 Yr. CAGR %	11.33	10.17	6.44	8.98	17.96
Capital Expenditures, 5 Yr. CAGR %	3.23	4.23	3.38	15.02	26.01
Levered Free Cash Flow, 5 Yr. CAGR %	6.17	11.15	-40.84	6.17	21.94
Unlevered Free Cash Flow, 5 Yr. CAGR %	6	10.74	-22.98	10.01	23.95
Dividend Per Share, 5 Yr. CAGR %	15.7	13.16	11.51	8.45	7.53