Financials 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

Projected Income Statement: HEICO Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,866	2,208	2,968	3,858	4,485	4,999	5,403	5,792
Change	-	18.37%	34.41%	29.97%	16.26%	11.46%	8.09%	7.2%
EBITDA ¹	485.9	593.2	758.3	1,002	1,220	1,365	1,496	1,625
Change	-	22.07%	27.84%	32.17%	21.68%	11.97%	9.58%	8.59%
EBIT ¹	392.9	496.8	625.3	824.5	1,019	1,162	1,281	1,408
Change	-	26.46%	25.86%	31.84%	23.6%	13.99%	10.24%	9.93%
Interest Paid ¹	-7.285	-6.386	-72.98	-149.3	-129.9	-123.8	-113.2	-99.88
Earnings before Tax (EBT) ¹	387.1	491	555.3	677.6	893.6	1,040	1,175	1,322
Change	-	26.86%	13.09%	22.03%	31.87%	16.34%	13.02%	12.55%
Net income ¹	304.2	351.7	403.6	514.1	690.4	774.1	883.7	998.3
Change	-	15.6%	14.76%	27.38%	34.29%	12.12%	14.17%	12.97%
Announcement Date	15/12/21	19/12/22	18/12/23	17/12/24	18/12/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: October	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	417.9	466.7	471.7	509.4	490.3	538.8	569.5	609.6	620.9	687.8	722.9	936.4	896.4	955.4	992.2	1,014	1,030	1,098	1,148	1,209	1,171	1,225	1,275	1,330	1,294	1,349	1,413	1,456
Change	-	11.67%	1.08%	8%	-3.75%	9.88%	5.7%	7.04%	1.85%	10.78%	5.1%	29.54%	-4.28%	6.59%	3.86%	2.16%	1.63%	6.56%	4.53%	5.39%	-3.16%	4.63%	4.07%	4.3%	-2.71%	4.25%	4.72%	3.09%
EBITDA ¹	103.3	119.7	123.7	139.2	122	146.3	152.7	172.3	156.5	186.8	178.9	234.2	224.4	252.4	260.8	264	273.9	297.7	316.4	331.4	313.5	335.1	350.8	368.9	345.3	367.4	392.1	409.1
Change	-	15.85%	3.4%	12.52%	-12.34%	19.84%	4.41%	12.83%	-9.18%	19.37%	-4.24%	30.92%	-4.19%	12.5%	3.29%	1.24%	3.78%	8.66%	6.31%	4.74%	-5.42%	6.88%	4.68%	5.18%	-6.41%	6.42%	6.7%	4.35%
EBIT ¹	80.28	96.75	100.8	115	98.82	122.8	128.7	146.5	129.4	157.1	149.4	189.4	180.2	209.2	216.4	218.6	226.8	248.2	265	279	262.6	282.1	297.1	314.8	298.3	320.8	343.4	359.5
Change	-	20.51%	4.23%	14.07%	-14.09%	24.24%	4.86%	13.79%	-11.65%	21.37%	-4.92%	26.83%	-4.88%	16.06%	3.49%	1.02%	3.73%	9.41%	6.8%	5.28%	-5.87%	7.42%	5.3%	5.98%	-5.25%	7.53%	7.05%	4.69%
Charge d'intérêts ¹	-2.448	-2.083	-1.717	-1.037	-0.796	-0.979	-1.406	-3.205	-6.068	-11.37	-12.12	-43.42	-38.61	-38.51	-36.79	-35.41	-32.46	-32.86	-31.7	-32.85	-32.34	-31.84	-30.51	-29.58	-34.7	-34.7	-34.7	-34.7
Earnings before Tax (EBT) ¹	78.55	94.97	99.28	114.3	98.25	122.1	127.5	143.2	124	146.1	138.2	147.1	142.3	171.1	180.3	183.9	195.3	215.9	235	247.4	232.2	252.6	268.6	288.2	270.3	293.1	316.3	332.7
Change	-	20.91%	4.54%	15.08%	-14.01%	24.28%	4.4%	12.3%	-13.39%	17.79%	-5.41%	6.45%	-3.25%	20.25%	5.39%	1.98%	6.19%	10.58%	8.83%	5.28%	-6.15%	8.8%	6.33%	7.3%	-6.23%	8.44%	7.93%	5.18%
Net income ¹	70.6	70.67	76.89	86.06	86.92	85.01	82.54	97.2	93.03	105.1	102	103.4	114.7	123.1	136.6	139.7	168	156.8	177.3	188.3	180.3	184.7	197.2	211.5	213.5	215.4	236.3	248.6
Change	-	0.11%	8.8%	11.93%	1%	-2.2%	-2.91%	17.77%	-4.3%	13%	-2.95%	1.38%	10.9%	7.37%	10.91%	2.28%	20.24%	-6.65%	13.11%	6.18%	-4.25%	2.45%	6.75%	7.27%	0.93%	0.91%	9.71%	5.18%
Announcement Date	23/02/21	25/05/21	24/08/21	15/12/21	23/02/22	23/05/22	29/08/22	19/12/22	27/02/23	22/05/23	30/08/23	18/12/23	26/02/24	28/05/24	26/08/24	17/12/24	26/02/25	27/05/25	25/08/25	18/12/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: HEICO Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	128	151	2,307	2,067	1,950	1,365	373	-651
Change	-	17.97%	1,427.81%	-10.4%	-5.66%	-30.01%	-72.67%	-274.53%
Announcement Date	15/12/21	19/12/22	18/12/23	17/12/24	18/12/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: HEICO Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	36.18	31.98	49.43	58.26	72.89	78.34	81.66	86.93
Change	-	-11.61%	54.57%	17.86%	25.1%	7.48%	4.23%	6.46%
Free Cash Flow (FCF) ¹	407.9	435.9	399.3	614.1	861.4	894.8	1,054	1,159
Change	-	6.86%	-8.39%	53.8%	40.27%	3.88%	17.83%	9.91%
Announcement Date	15/12/21	19/12/22	18/12/23	17/12/24	18/12/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: HEICO Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	26.05%	26.86%	25.55%	25.98%	27.19%	27.31%	27.69%	28.05%
EBIT Margin (%)	21.06%	22.5%	21.07%	21.37%	22.72%	23.24%	23.7%	24.3%
EBT Margin (%)	20.75%	22.24%	18.71%	17.56%	19.92%	20.79%	21.74%	22.83%
Net margin (%)	16.31%	15.92%	13.6%	13.33%	15.39%	15.48%	16.36%	17.24%
FCF margin (%)	21.86%	19.74%	13.45%	15.92%	19.21%	17.9%	19.51%	20.01%
FCF / Net Income (%)	134.08%	123.94%	98.94%	119.45%	124.77%	115.6%	119.31%	116.08%
Profitability
ROA	8.64%	-	7.1%	6.95%	8.58%	9.6%	10.35%	11.15%
ROE	14.12%	14.22%	13.8%	15.16%	17.23%	16.27%	16.11%	16.16%
Financial Health
Leverage (Debt/EBITDA)	0.26x	0.25x	3.04x	2.06x	1.6x	1x	0.25x	-
Debt / Free cash flow	0.31x	0.35x	5.78x	3.37x	2.26x	1.53x	0.35x	-
Capital Intensity
CAPEX / Current Assets (%)	1.94%	1.45%	1.67%	1.51%	1.63%	1.57%	1.51%	1.5%
CAPEX / EBITDA (%)	7.45%	5.39%	6.52%	5.81%	5.98%	5.74%	5.46%	5.35%
CAPEX / FCF (%)	8.87%	7.34%	12.38%	9.49%	8.46%	8.75%	7.74%	7.5%
Items per share
Cash flow per share ¹	3.221	3.389	3.231	4.796	6.637	6.743	7.942	8.755
Change	-	5.21%	-4.67%	48.43%	38.38%	1.6%	17.78%	10.23%
Dividend per Share ¹	0.18	0.18	0.2	0.21	0.23	0.251	0.275	0.3028
Change	-	0%	11.11%	5%	9.52%	9.11%	9.57%	10.12%
Book Value Per Share ¹	16.66	19.08	23.28	26.2	31.11	36.55	41.28	46.47
Change	-	14.49%	22.01%	12.56%	18.74%	17.5%	12.94%	12.57%
EPS ¹	2.21	2.55	2.91	3.67	4.9	5.499	6.233	7.046
Change	-	15.38%	14.12%	26.12%	33.51%	12.23%	13.35%	13.04%
Nbr of stocks (in thousands)	135,384	136,592	138,187	138,598	139,206	139,410	139,410	139,410
Announcement Date	15/12/21	19/12/22	18/12/23	17/12/24	18/12/25	-	-	-