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Heico (HEI.A) Financials

Heico logo
$248.12 -0.22 (-0.09%)
Closing price 03:59 PM Eastern
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$248.34 +0.22 (+0.09%)
As of 04:54 PM Eastern
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Annual Income Statements for Heico

Annual Income Statements for Heico

This table shows Heico's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 121 133 156 186 259 328 314 304 352 404 514
Consolidated Net Income / (Loss)		 139 154 176 208 286 360 336 330 391 444 559
Net Income / (Loss) Continuing Operations		 139 154 176 208 286 360 336 330 391 444 559
Total Pre-Tax Income 		199 225 257 298 356 438 365 387 491 555 678
Total Operating Income		 203 230 265 307 376 457 377 393 497 625 824
Total Gross Profit		 398 434 515 575 691 814 682 727 863 1,153 1,502
Total Revenue		 1,132 1,189 1,376 1,525 1,778 2,056 1,787 1,866 2,208 2,968 3,858
Operating Revenue		 1,132 1,189 1,376 1,525 1,778 2,056 1,787 1,866 2,208 2,968 3,858
Total Cost of Revenue		 734 754 861 950 1,087 1,242 1,105 1,138 1,346 1,815 2,356
Operating Cost of Revenue		 734 754 861 950 1,087 1,242 1,105 1,138 1,346 1,815 2,356
Total Operating Expenses		 195 205 250 268 314 357 305 335 366 528 677
Selling, General & Admin Expense		 195 205 250 268 314 357 305 335 366 528 677
Total Other Income / (Expense), net		 -4.82 -4.69 -8.30 -8.70 -20 -19 -12 -5.84 -5.82 -70 -147
Interest Expense		 5.44 4.63 8.27 9.79 20 22 13 7.29 6.39 73 149
Other Income / (Expense), net		 0.63 -0.07 -0.02 1.09 -0.06 2.44 1.37 1.44 0.57 2.93 2.44
Income Tax Expense		 60 71 81 90 71 78 29 57 100 111 119
Net Income / (Loss) Attributable to Noncontrolling Interest		 17 20 20 22 26 32 22 26 39 41 45
Basic Earnings per Share		 $1.82 $1.60 $1.19 $1.41 $1.96 $2.45 $2.33 $2.25 $2.59 $2.94 $3.71
Weighted Average Basic Shares Outstanding		 66.46M 83.43M 130.95M 131.70M 132.54M 133.64M 134.75M 135.33M 136.01M 137.19M 138.46M
Diluted Earnings per Share		 $1.80 $1.57 $1.17 $1.37 $1.90 $2.39 $2.29 $2.21 $2.55 $2.91 $3.67
Weighted Average Diluted Shares Outstanding		 67.45M 84.76M 133.15M 135.59M 136.70M 137.35M 137.30M 137.85M 138.04M 138.91M 140.20M
Weighted Average Basic & Diluted Shares Outstanding		 66.60M 66.70M 84M 131.90M 132.30M 134.50M 135.22M 135.51M 136.64M 138.25M 138.83M
Cash Dividends to Common per Share		 $0.47 $0.14 $0.16 $0.10 $0.12 $0.14 $0.16 $0.17 $0.18 $0.20 $0.21

Quarterly Income Statements for Heico

This table shows Heico's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 93 105 102 103 115 123 137 140 168 157 177
Consolidated Net Income / (Loss)		 103 115 113 114 125 135 148 151 182 171 191
Net Income / (Loss) Continuing Operations		 103 115 113 114 125 135 148 151 182 171 191
Total Pre-Tax Income 		124 146 138 147 142 171 180 184 195 216 235
Total Operating Income		 129 157 149 189 180 209 216 219 227 248 265
Total Gross Profit		 244 267 279 364 347 372 389 394 406 438 457
Total Revenue		 621 688 723 936 896 955 992 1,014 1,030 1,098 1,148
Operating Revenue		 621 688 723 936 896 955 992 1,014 1,030 1,098 1,148
Total Cost of Revenue		 377 421 444 572 550 584 603 620 625 660 690
Operating Cost of Revenue		 377 421 444 572 550 584 603 620 625 660 690
Total Operating Expenses		 114 109 129 175 167 163 173 175 179 190 192
Selling, General & Admin Expense		 114 109 129 175 167 163 173 175 179 190 192
Total Other Income / (Expense), net		 -5.43 -11 -11 -42 -38 -38 -36 -35 -32 -32 -30
Interest Expense		 6.07 11 12 43 39 39 37 35 32 33 32
Other Income / (Expense), net		 0.64 0.34 0.91 1.04 0.68 0.46 0.66 0.65 0.92 0.64 1.66
Income Tax Expense		 21 31 25 34 17 36 33 33 14 45 44
Net Income / (Loss) Attributable to Noncontrolling Interest		 9.98 9.94 11 10 11 12 11 11 14 14 13
Basic Earnings per Share		 $0.68 $0.77 $0.74 $0.75 $0.83 $0.89 $0.99 $1.00 $1.21 $1.13 $1.27
Weighted Average Basic Shares Outstanding		 136.66M 136.92M 137.01M 137.19M 138.27M 138.39M 138.52M 138.46M 138.84M 139.01M 139.14M
Diluted Earnings per Share		 $0.67 $0.76 $0.74 $0.74 $0.82 $0.88 $0.97 $1.00 $1.20 $1.12 $1.26
Weighted Average Diluted Shares Outstanding		 138.58M 138.60M 138.67M 138.91M 139.89M 140.06M 140.31M 140.20M 140.48M 140.60M 140.95M
Weighted Average Basic & Diluted Shares Outstanding		 136.89M 137.00M 138.19M 138.25M 138.36M 138.50M 138.60M 138.83M 138.95M 139.10M 139.21M

Annual Cash Flow Statements for Heico

This table details how cash moves in and out of Heico's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024
Net Change in Cash & Equivalents		 4.73 13 9.35 9.11 7.53 -2.60 350 -299 31 32 -8.95
Net Cash From Operating Activities		 191 173 260 288 328 437 409 444 468 449 672
Net Cash From Continuing Operating Activities		 191 173 260 288 328 437 409 444 468 449 672
Net Income / (Loss) Continuing Operations		 139 154 176 208 286 360 336 330 391 444 559
Consolidated Net Income / (Loss)		 139 154 176 208 286 360 336 330 391 444 559
Depreciation Expense		 48 48 60 65 77 83 89 93 96 130 175
Non-Cash Adjustments To Reconcile Net Income		 28 7.07 13 11 12 28 3.14 20 21 3.75 39
Changes in Operating Assets and Liabilities, net		 -23 -36 9.82 5.16 -47 -34 -18 1.78 -40 -129 -101
Net Cash From Investing Activities		 -25 -186 -308 -458 -114 -281 -199 -183 -396 -2,484 -293
Net Cash From Continuing Investing Activities		 -25 -186 -308 -458 -114 -281 -199 -183 -396 -2,484 -293
Purchase of Property, Plant & Equipment		 -16 -18 -31 -26 -42 -29 -23 -36 -32 -49 -58
Acquisitions		 -8.74 -167 -264 -418 -60 -241 -164 -137 -347 -2,422 -219
Purchase of Investments		 - - -11 -13 -12 -14 -16 -14 -15 -19 -20
Other Investing Activities, net		 -0.04 -0.97 -2.94 -0.55 -0.37 2.83 3.74 3.23 -1.24 5.65 4.26
Net Cash From Financing Activities		 -160 27 57 176 -208 -160 138 -559 -34 2,065 -389
Net Cash From Continuing Financing Activities		 -160 27 57 176 -208 -160 138 -559 -34 2,065 -389
Repayment of Debt		 -160 -132 -170 -191 -208 -284 -68 -506 -213 -1,001 -379
Repurchase of Common Equity		 -1.20 0.00 -3.60 -4.05 -25 -64 -20 -6.13 -26 -15 -30
Payment of Dividends		 -110 -19 -30 -31 -28 -130 -39 -51 -58 -67 -90
Issuance of Debt		 112 174 260 404 56 313 245 0.00 262 1,964 130
Issuance of Common Equity		 0.71 3.67 5.92 5.66 4.03 0.00 21 0.53 0.00 1,189 0.00
Other Financing Activities, net		 -1.39 1.01 -5.81 -7.38 -6.09 4.47 -1.49 4.06 1.42 -6.21 -21
Effect of Exchange Rate Changes		 -0.66 -0.82 1.01 3.17 0.09 0.39 - -0.22 -6.99 2.23 1.28

Quarterly Cash Flow Statements for Heico

This table details how cash moves in and out of Heico's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025
Net Change in Cash & Equivalents		 3.12 -15 567 -523 25 7.84 -1.22 -41 3.36 77 20
Net Cash From Operating Activities		 77 78 146 148 112 141 214 206 203 205 231
Net Cash From Continuing Operating Activities		 77 78 146 148 112 141 214 206 203 205 231
Net Income / (Loss) Continuing Operations		 103 115 113 114 125 135 148 151 182 171 191
Consolidated Net Income / (Loss)		 103 115 113 114 125 135 148 151 182 171 191
Depreciation Expense		 27 30 30 44 44 43 44 45 46 49 50
Non-Cash Adjustments To Reconcile Net Income		 -8.86 -9.93 7.52 15 6.98 50 19 -37 20 17 -20
Changes in Operating Assets and Liabilities, net		 -45 -57 -3.88 -24 -64 -87 2.36 48 -44 -32 11
Net Cash From Investing Activities		 -526 -34 -14 -1,910 -71 -14 -27 -181 -288 -52 -358
Net Cash From Continuing Investing Activities		 -526 -34 -14 -1,910 -71 -14 -27 -181 -288 -52 -358
Purchase of Property, Plant & Equipment		 -11 -11 -12 -15 -13 -13 -16 -16 -17 -16 -13
Acquisitions		 -504 -20 -2.47 -1,895 -46 - -9.00 -164 -255 -31 -344
Purchase of Investments		 -12 -2.20 - -4.89 -13 -1.70 -2.10 -3.40 -15 -3.10 -3.99
Other Investing Activities, net		 0.40 -0.04 0.33 4.96 1.16 0.50 0.09 2.52 -1.30 -1.30 2.56
Net Cash From Financing Activities		 449 -60 435 1,241 -17 -118 -189 -65 91 -81 146
Net Cash From Continuing Financing Activities		 449 -60 435 1,241 -17 -118 -189 -65 91 -81 146
Repayment of Debt		 -38 -70 -740 -152 -29 -109 -130 -110 -20 -75 -180
Repurchase of Common Equity		 -18 2.73 -0.04 - -2.81 0.46 -2.48 -25 -3.35 1.94 -0.56
Payment of Dividends		 -25 -14 -21 -6.66 -23 -9.77 -47 -11 -26 -12 -28
Issuance of Debt		 531 25 8.00 1,400 50 - - 80 145 - 350
Issuance of Common Equity		 - - 1,184 - 2.25 - -4.15 - 1.60 4.19 5.89
Other Financing Activities, net		 -1.33 -9.79 5.09 -0.18 -15 -4.16 -5.65 0.75 -7.02 -1.04 -1.40
Other Net Changes in Cash		 - - 0.26 - - -0.69 0.54 - - - 0.32

Annual Balance Sheets for Heico

This table presents Heico's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024
Total Assets		 1,489 1,736 1,998 1,263 447 2,969 3,548 3,498 4,095 7,195 7,593
Total Current Assets		 431 504 543 52 447 814 1,166 937 1,153 1,855 2,062
Cash & Equivalents		 20 34 43 52 - 57 407 108 140 171 162
Accounts Receivable		 150 182 202 - - 274 210 245 295 509 538
Inventories, net		 218 244 286 - 372 420 463 478 582 1,014 1,171
Prepaid Expenses		 8.87 9.37 12 - 21 19 25 26 42 50 79
Other Current Assets		 - - - - 54 43 60 80 94 112 112
Plant, Property, & Equipment, net		 94 106 122 130 0.00 173 169 194 226 322 339
Total Noncurrent Assets		 964 1,127 1,334 1,081 0.00 1,982 2,213 2,367 2,717 5,018 5,191
Goodwill		 686 767 866 1,081 - 1,269 1,383 1,450 1,672 3,274 3,380
Intangible Assets		 201 273 367 - - 551 579 582 733 1,357 1,335
Other Noncurrent Operating Assets		 76 87 101 - - 163 251 335 311 386 476
Total Liabilities & Shareholders' Equity		 1,489 1,736 1,998 121 1,556 2,969 3,548 3,498 4,095 7,195 7,593
Total Liabilities		 675 752 851 0.00 214 1,086 1,316 949 1,120 3,637 3,529
Total Current Liabilities		 152 168 214 0.00 163 289 241 295 421 665 664
Short-Term Debt		 0.42 0.36 0.41 - - 0.91 1.05 1.52 1.65 18 4.11
Accounts Payable		 57 65 73 - - 106 76 86 117 206 198
Accrued Expenses		 93 100 136 - 163 179 162 207 290 433 428
Current Deferred & Payable Income Tax Liabilities		 2.07 3.19 4.62 - - 3.05 1.65 0.96 12 8.55 34
Total Noncurrent Liabilities		 522 583 637 0.00 51 797 1,075 654 699 2,972 2,865
Long-Term Debt		 329 367 458 - - 561 739 235 289 2,460 2,225
Noncurrent Deferred & Payable Income Tax Liabilities		 111 111 65 - 51 51 56 41 71 132 114
Other Noncurrent Operating Liabilities		 82 106 114 - - 185 280 378 339 380 526
Commitments & Contingencies		 0.00 0.00 0.00 - - 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 40 91 100 131 133 188 221 253 328 365 366
Total Equity & Noncontrolling Interests		 775 893 1,048 -11 1,210 1,695 2,011 2,297 2,648 3,193 3,697
Total Preferred & Common Equity		 699 810 963 -11 1,105 1,667 1,980 2,263 2,606 3,146 3,637
Preferred Stock		 - - - - - 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 699 809 963 -11 1,105 1,666 1,980 2,263 2,606 3,146 3,637
Common Stock		 270 286 307 - - 285 301 322 399 580 601
Retained Earnings		 438 548 682 - 1,105 1,397 1,688 1,950 2,254 2,606 3,062
Accumulated Other Comprehensive Income / (Loss)		 -8.29 -25 -25 -11 - -17 -9.15 -8.55 -46 -40 -26
Other Equity Adjustments		 0.00 0.00 0.00 - - 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest		 75 83 84 - 105 28 30 34 42 47 61

Quarterly Balance Sheets for Heico

This table presents Heico's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 7/31/2022 1/31/2023 4/30/2023 7/31/2023 1/31/2024 4/30/2024 7/31/2024 1/31/2025 4/30/2025 7/31/2025
Total Assets		 3,787 4,805 4,870 5,453 7,336 7,366 7,422 7,891 8,092 8,532
Total Current Assets		 1,082 1,319 1,367 1,932 1,912 1,969 2,027 2,103 2,283 2,386
Cash & Equivalents		 134 143 127 694 196 204 203 165 242 262
Accounts Receivable		 273 326 361 355 472 504 526 523 591 598
Inventories, net		 546 697 722 732 1,069 1,088 1,125 1,219 1,244 1,310
Prepaid Expenses		 43 51 53 47 67 62 69 77 80 83
Other Current Assets		 87 102 103 103 109 110 104 118 125 133
Plant, Property, & Equipment, net		 203 274 274 285 328 327 330 349 359 438
Total Noncurrent Assets		 2,503 3,211 3,230 3,236 5,096 5,070 5,065 5,439 5,450 5,708
Goodwill		 1,541 1,994 2,031 2,026 3,290 3,285 3,292 3,491 3,530 3,646
Intangible Assets		 639 874 844 823 1,366 1,333 1,300 1,447 1,434 1,514
Other Noncurrent Operating Assets		 323 343 354 388 440 452 473 501 486 548
Total Liabilities & Shareholders' Equity		 3,787 4,805 4,870 5,453 7,336 7,366 7,422 7,891 8,092 8,532
Total Liabilities		 998 1,720 1,665 2,150 3,654 3,555 3,496 3,656 3,620 3,882
Total Current Liabilities		 346 453 467 479 604 559 615 618 665 711
Short-Term Debt		 1.73 1.62 19 17 4.74 4.38 4.21 3.95 3.79 3.73
Accounts Payable		 108 135 148 140 195 195 207 208 230 231
Accrued Expenses		 234 291 296 316 382 354 399 360 383 468
Current Deferred & Payable Income Tax Liabilities		 2.46 26 4.10 7.15 23 6.03 3.55 47 48 9.01
Total Noncurrent Liabilities		 652 1,267 1,198 1,671 3,049 2,996 2,882 3,038 2,956 3,170
Long-Term Debt		 244 781 736 1,198 2,496 2,385 2,255 2,350 2,274 2,444
Noncurrent Deferred & Payable Income Tax Liabilities		 48 113 94 83 128 120 117 109 100 127
Other Noncurrent Operating Liabilities		 360 372 368 389 426 490 510 579 581 599
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 297 340 346 344 366 368 329 424 436 438
Total Equity & Noncontrolling Interests		 2,493 2,744 2,860 2,959 3,317 3,443 3,597 3,811 4,035 4,212
Total Preferred & Common Equity		 2,452 2,699 2,818 2,914 3,266 3,389 3,540 3,747 3,968 4,141
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,452 2,699 2,818 2,914 3,266 3,389 3,540 3,747 3,968 4,141
Common Stock		 319 390 400 408 587 600 615 620 639 652
Retained Earnings		 2,171 2,329 2,435 2,523 2,705 2,825 2,954 3,180 3,329 3,489
Accumulated Other Comprehensive Income / (Loss)		 -38 -19 -18 -17 -26 -36 -29 -54 -0.41 0.88
Other Equity Adjustments		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest		 40 45 42 45 50 53 57 64 68 71

Annual Metrics And Ratios for Heico

This table displays calculated financial ratios and metrics derived from Heico's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 10/31/2014 10/31/2015 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020 10/31/2021 10/31/2022 10/31/2023 10/31/2024
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 12.25% 4.98% 15.78% 10.79% 16.59% 15.63% -13.07% 4.40% 18.37% 34.41% 29.97%
EBITDA Growth		 13.79% 10.22% 17.33% 14.43% 21.69% 19.77% -14.08% 4.46% 21.83% 27.72% 32.17%
EBIT Growth		 10.59% 12.54% 15.56% 15.99% 22.24% 22.16% -17.74% 4.32% 26.14% 26.31% 31.62%
NOPAT Growth		 12.35% 10.29% 15.99% 17.54% 41.16% 24.49% -7.68% -3.45% 18.08% 26.61% 35.93%
Net Income Growth		 11.41% 10.66% 14.71% 17.89% 37.57% 25.92% -6.64% -1.82% 18.46% 13.76% 25.81%
EPS Growth		 17.65% 10.66% 14.71% 17.89% 38.69% 25.79% -4.18% -3.49% 15.38% 14.12% 26.12%
Operating Cash Flow Growth		 44.64% -9.35% 50.24% 11.00% 13.95% 33.15% -6.46% 8.54% 5.35% -4.09% 49.84%
Free Cash Flow Firm Growth		 235.20% -123.49% -62.08% 1,009.79% 126.47% -239.03% 109.54% 30.63% -124.21% -4,067.56% 118.52%
Invested Capital Growth		 -1.84% 17.36% 18.50% -22.48% -80.74% 923.60% 7.41% 4.40% 16.77% 87.58% 4.53%
Revenue Q/Q Growth		 0.43% 3.16% 2.58% 3.95% 3.23% 3.25% -6.06% 4.67% 4.75% 12.37% 2.04%
EBITDA Q/Q Growth		 -0.63% 6.16% 3.24% 4.50% 3.59% 3.64% -5.96% 5.79% 5.83% 8.91% 3.06%
EBIT Q/Q Growth		 -1.06% 6.87% 2.86% 4.70% 3.85% 3.83% -7.60% 7.00% 6.67% 7.55% 3.61%
NOPAT Q/Q Growth		 0.47% 5.55% 3.35% 5.02% 5.91% 5.26% -7.42% 7.97% 4.99% 7.44% 5.05%
Net Income Q/Q Growth		 0.23% 5.46% 3.22% 4.83% 5.54% 5.42% -6.93% 8.48% 4.50% 0.77% 7.15%
EPS Q/Q Growth		 0.56% 5.46% 3.22% 4.83% 2.70% 3.46% -8.40% 8.87% 2.82% 1.39% 7.62%
Operating Cash Flow Q/Q Growth		 14.34% -6.43% 15.95% 8.13% 1.47% 2.40% -3.27% -0.04% 7.83% 1.00% 9.31%
Free Cash Flow Firm Q/Q Growth		 281.67% -135.43% 71.48% 628.40% 1,106.93% -2,450.34% -38.31% -11.05% -244.55% -389.51% 127.43%
Invested Capital Q/Q Growth		 -2.20% 10.88% -1.29% -29.12% -89.00% -0.58% 2.54% 4.52% 7.77% 53.37% 2.48%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 35.18% 36.53% 37.46% 37.69% 38.85% 39.59% 38.17% 38.99% 39.07% 38.86% 38.93%
EBITDA Margin		 22.24% 23.35% 23.66% 24.43% 25.50% 26.42% 26.11% 26.12% 26.89% 25.55% 25.98%
Operating Margin		 17.96% 19.32% 19.28% 20.11% 21.16% 22.24% 21.08% 21.06% 22.50% 21.07% 21.37%
EBIT Margin		 18.02% 19.32% 19.28% 20.18% 21.16% 22.35% 21.15% 21.14% 22.52% 21.17% 21.44%
Profit (Net Income) Margin		 12.26% 12.92% 12.80% 13.62% 16.07% 17.50% 18.79% 17.67% 17.69% 14.97% 14.49%
Tax Burden Percent		 69.89% 68.26% 68.53% 69.69% 80.18% 82.16% 92.05% 85.20% 79.55% 80.03% 82.51%
Interest Burden Percent		 97.33% 97.99% 96.88% 96.82% 94.71% 95.28% 96.52% 98.15% 98.72% 88.38% 81.94%
Effective Tax Rate		 30.12% 31.74% 31.47% 30.31% 19.82% 17.84% 7.95% 14.80% 20.45% 19.97% 17.49%
Return on Invested Capital (ROIC)		 12.53% 12.84% 12.62% 15.41% 41.77% 28.66% 14.00% 12.77% 13.62% 11.13% 11.34%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.53% 11.84% 11.11% 14.61% 213.87% 33.89% 11.41% 10.61% 10.30% 6.57% 5.80%
Return on Net Nonoperating Assets (RNNOA)		 4.84% 4.23% 3.90% 17.35% -2.72% -6.35% 2.32% 1.02% 0.52% 2.47% 3.33%
Return on Equity (ROE)		 17.38% 17.07% 16.53% 32.76% 39.05% 22.31% 16.32% 13.79% 14.14% 13.60% 14.67%
Cash Return on Invested Capital (CROIC)		 14.39% -3.14% -4.31% 40.74% 177.17% -135.74% 6.86% 8.46% -1.85% -49.78% 6.91%
Operating Return on Assets (OROA)		 13.50% 14.24% 14.21% 18.87% 43.99% 26.90% 11.60% 11.19% 13.10% 11.13% 11.18%
Return on Assets (ROA)		 9.18% 9.52% 9.43% 12.73% 33.41% 21.06% 10.31% 9.36% 10.29% 7.87% 7.56%
Return on Common Equity (ROCE)		 14.20% 14.31% 13.74% 24.61% 29.20% 19.16% 14.46% 12.24% 12.46% 11.98% 13.06%
Return on Equity Simple (ROE_SIMPLE)		 19.84% 18.96% 18.28% -1,967.22% 25.86% 21.59% 16.96% 14.57% 14.99% 14.13% 15.37%
Net Operating Profit after Tax (NOPAT)		 142 157 182 214 302 376 347 335 395 500 680
NOPAT Margin		 12.55% 13.19% 13.21% 14.02% 16.97% 18.27% 19.40% 17.94% 17.90% 16.86% 17.63%
Net Nonoperating Expense Percent (NNEP)		 1.00% 1.00% 1.52% 0.81% -172.10% -5.24% 2.59% 2.16% 3.32% 4.56% 5.54%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 13.45% 8.82% 11.48%
Cost of Revenue to Revenue		 64.82% 63.47% 62.54% 62.31% 61.15% 60.41% 61.83% 61.01% 60.93% 61.14% 61.07%
SG&A Expenses to Revenue		 17.21% 17.21% 18.18% 17.58% 17.69% 17.35% 17.09% 17.93% 16.57% 17.79% 17.56%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 17.21% 17.21% 18.18% 17.58% 17.69% 17.35% 17.09% 17.93% 16.57% 17.79% 17.56%
Earnings before Interest and Taxes (EBIT)		 204 230 265 308 376 460 378 394 497 628 827
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 252 277 326 373 453 543 467 487 594 758 1,002
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.05 4.11 4.66 0.00 10.01 9.87 7.12 8.31 8.50 6.95 9.33
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 10.01 0.00 785.09 81.62 110.61 0.00 0.00
Price to Revenue (P/Rev)		 3.12 2.80 3.26 4.98 6.22 8.00 7.89 10.08 10.04 7.37 8.80
Price to Earnings (P/E)		 29.08 24.92 28.76 40.80 42.64 50.15 44.93 61.81 63.03 54.18 66.04
Dividend Yield		 0.77% 0.90% 0.24% 0.17% 0.13% 0.16% 0.15% 0.12% 0.11% 0.13% 0.09%
Earnings Yield		 3.44% 4.01% 3.48% 2.45% 2.35% 1.99% 2.23% 1.62% 1.59% 1.85% 1.51%
Enterprise Value to Invested Capital (EV/IC)		 3.52 2.91 3.26 6.33 48.41 7.19 5.73 7.18 7.26 4.19 5.94
Enterprise Value to Revenue (EV/Rev)		 3.49 3.22 3.70 5.03 6.35 8.35 8.22 10.30 10.27 8.28 9.45
Enterprise Value to EBITDA (EV/EBITDA)		 15.69 13.81 15.63 20.58 24.91 31.61 31.49 39.43 38.21 32.42 36.36
Enterprise Value to EBIT (EV/EBIT)		 19.37 16.69 19.19 24.91 30.02 37.35 38.87 48.74 45.61 39.13 44.07
Enterprise Value to NOPAT (EV/NOPAT)		 27.80 24.44 28.00 35.87 37.43 45.70 42.38 57.41 57.39 49.13 53.57
Enterprise Value to Operating Cash Flow (EV/OCF)		 20.72 22.17 19.60 26.59 34.38 39.24 35.91 43.28 48.49 54.79 54.20
Enterprise Value to Free Cash Flow (EV/FCFF)		 24.22 0.00 0.00 13.57 8.83 0.00 86.53 86.65 0.00 0.00 87.94
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.40 0.37 0.40 0.00 0.00 0.30 0.33 0.09 0.10 0.70 0.55
Long-Term Debt to Equity		 0.40 0.37 0.40 0.00 0.00 0.30 0.33 0.09 0.10 0.69 0.55
Financial Leverage		 0.42 0.36 0.35 1.19 -0.01 -0.19 0.20 0.10 0.05 0.38 0.57
Leverage Ratio		 1.89 1.79 1.75 2.57 1.17 1.06 1.58 1.47 1.37 1.73 1.94
Compound Leverage Factor		 1.84 1.76 1.70 2.49 1.11 1.01 1.53 1.45 1.36 1.53 1.59
Debt to Total Capital		 28.78% 27.19% 28.54% 0.00% 0.00% 22.99% 24.90% 8.49% 8.89% 41.05% 35.43%
Short-Term Debt to Total Capital		 0.04% 0.03% 0.03% 0.00% 0.00% 0.04% 0.04% 0.05% 0.05% 0.29% 0.07%
Long-Term Debt to Total Capital		 28.74% 27.16% 28.52% 0.00% 0.00% 22.95% 24.86% 8.43% 8.84% 40.76% 35.36%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 10.06% 12.92% 11.45% 108.76% 17.72% 8.85% 8.47% 10.28% 11.32% 6.83% 6.78%
Common Equity to Total Capital		 61.13% 59.86% 59.98% -8.76% 82.28% 68.13% 66.64% 81.23% 79.79% 52.12% 57.79%
Debt to EBITDA		 1.31 1.32 1.41 0.00 0.00 1.03 1.59 0.49 0.49 3.27 2.22
Net Debt to EBITDA		 1.23 1.20 1.28 0.00 0.00 0.93 0.71 0.26 0.25 3.04 2.06
Long-Term Debt to EBITDA		 1.31 1.32 1.41 0.00 0.00 1.03 1.58 0.48 0.49 3.24 2.22
Debt to NOPAT		 2.32 2.34 2.52 0.00 0.00 1.50 2.13 0.71 0.73 4.95 3.28
Net Debt to NOPAT		 2.17 2.13 2.28 0.00 0.00 1.34 0.96 0.38 0.38 4.61 3.04
Long-Term Debt to NOPAT		 2.31 2.34 2.52 0.00 0.00 1.49 2.13 0.70 0.73 4.92 3.27
Altman Z-Score		 4.99 4.45 4.97 0.00 41.99 11.16 8.27 13.80 13.80 5.01 7.42
Noncontrolling Interest Sharing Ratio		 18.30% 16.15% 16.86% 24.88% 25.23% 14.11% 11.39% 11.25% 11.88% 11.96% 11.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.83 2.99 2.53 0.00 2.74 2.81 4.83 3.18 2.74 2.79 3.11
Quick Ratio		 1.12 1.28 1.14 0.00 0.00 1.15 2.56 1.20 1.03 1.02 1.06
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 163 -38 -62 565 1,280 -1,779 170 222 -54 -2,238 414
Operating Cash Flow to CapEx		 1,162.03% 947.25% 841.50% 1,108.87% 784.52% 1,511.43% 1,783.46% 1,227.33% 1,462.87% 907.75% 1,154.07%
Free Cash Flow to Firm to Interest Expense		 29.98 -8.28 -7.51 57.71 64.30 -82.00 12.90 30.45 -8.41 -30.66 2.78
Operating Cash Flow to Interest Expense		 35.05 37.37 31.40 29.45 16.51 20.16 31.09 60.96 73.26 6.15 4.50
Operating Cash Flow Less CapEx to Interest Expense		 32.03 33.42 27.67 26.79 14.40 18.83 29.35 55.99 68.25 5.47 4.11
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.75 0.74 0.74 0.94 2.08 1.20 0.55 0.53 0.58 0.53 0.52
Accounts Receivable Turnover		 7.38 7.18 7.17 0.00 0.00 0.00 7.37 8.19 8.18 7.38 7.37
Inventory Turnover		 3.36 3.27 3.25 0.00 0.00 3.13 2.50 2.42 2.54 2.27 2.16
Fixed Asset Turnover		 11.82 11.91 12.11 12.13 0.00 0.00 10.44 10.29 10.53 10.84 11.67
Accounts Payable Turnover		 13.11 12.38 12.47 0.00 0.00 0.00 12.11 14.07 13.32 11.26 11.65
Days Sales Outstanding (DSO)		 49.43 50.86 50.90 0.00 0.00 0.00 49.51 44.54 44.61 49.43 49.56
Days Inventory Outstanding (DIO)		 108.64 111.65 112.33 0.00 0.00 116.46 145.94 150.91 143.84 160.53 169.23
Days Payable Outstanding (DPO)		 27.85 29.47 29.26 0.00 0.00 0.00 30.14 25.94 27.41 32.43 31.32
Cash Conversion Cycle (CCC)		 130.22 133.04 133.97 0.00 0.00 116.46 165.31 169.52 161.04 177.53 187.47
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,123 1,319 1,562 1,211 233 2,388 2,565 2,678 3,127 5,865 6,131
Invested Capital Turnover		 1.00 0.97 0.96 1.10 2.46 1.57 0.72 0.71 0.76 0.66 0.64
Increase / (Decrease) in Invested Capital		 -21 195 244 -351 -978 2,155 177 113 449 2,738 266
Enterprise Value (EV)		 3,951 3,832 5,091 7,667 11,293 17,164 14,692 19,218 22,685 24,586 36,444
Market Capitalization		 3,527 3,323 4,491 7,588 11,055 16,443 14,107 18,804 22,165 21,867 33,950
Book Value per Share		 $10.51 $12.11 $14.32 ($0.13) $8.31 $12.42 $14.67 $16.72 $19.08 $22.77 $26.24
Tangible Book Value per Share		 ($2.83) ($3.44) ($4.01) ($12.93) $8.31 ($1.15) $0.13 $1.70 $1.47 ($10.75) ($7.78)
Total Capital		 1,144 1,352 1,605 121 1,343 2,445 2,972 2,786 3,266 6,036 6,293
Total Debt		 329 368 458 0.00 0.00 562 740 236 290 2,478 2,229
Total Long-Term Debt		 329 367 458 0.00 0.00 561 739 235 289 2,460 2,225
Net Debt		 309 334 415 -52 0.00 505 333 128 151 2,307 2,067
Capital Expenditures (CapEx)		 16 18 31 26 42 29 23 36 32 49 58
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 259 302 286 0.00 284 468 519 536 594 1,037 1,240
Debt-free Net Working Capital (DFNWC)		 279 336 329 52 284 525 926 644 734 1,208 1,403
Net Working Capital (NWC)		 279 335 329 52 284 525 924 643 732 1,190 1,398
Net Nonoperating Expense (NNE)		 3.37 3.20 5.68 6.06 16 16 11 4.98 4.63 56 121
Net Nonoperating Obligations (NNO)		 309 334 415 1,091 -1,109 505 333 128 151 2,307 2,067
Total Depreciation and Amortization (D&A)		 48 48 60 65 77 83 89 93 96 130 175
Debt-free, Cash-free Net Working Capital to Revenue		 22.90% 25.41% 20.80% 0.00% 15.99% 22.79% 29.02% 28.71% 26.90% 34.93% 32.16%
Debt-free Net Working Capital to Revenue		 24.68% 28.23% 23.92% 3.41% 15.99% 25.56% 51.79% 34.52% 33.22% 40.69% 36.36%
Net Working Capital to Revenue		 24.65% 28.20% 23.89% 3.41% 15.99% 25.52% 51.73% 34.44% 33.14% 40.09% 36.25%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.93 $1.02 $1.19 $1.41 $1.96 $2.45 $2.33 $2.25 $2.59 $2.94 $3.71
Adjusted Weighted Average Basic Shares Outstanding		 129.81M 130.35M 130.95M 131.70M 132.54M 133.64M 134.75M 135.33M 136.01M 137.19M 138.46M
Adjusted Diluted Earnings per Share		 $0.92 $1.01 $1.17 $1.37 $1.90 $2.39 $2.29 $2.21 $2.55 $2.91 $3.67
Adjusted Weighted Average Diluted Shares Outstanding		 131.74M 132.44M 133.14M 135.59M 136.70M 137.35M 137.30M 137.85M 138.04M 138.91M 140.20M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 129.98M 130.61M 131.48M 132.04M 132.93M 134.50M 135.22M 135.51M 136.64M 138.25M 138.83M
Normalized Net Operating Profit after Tax (NOPAT)		 142 157 182 214 302 376 347 335 395 500 680
Normalized NOPAT Margin		 12.55% 13.19% 13.21% 14.02% 16.97% 18.27% 19.40% 17.94% 17.90% 16.86% 17.63%
Pre Tax Income Margin		 17.54% 18.93% 18.68% 19.54% 20.04% 21.30% 20.42% 20.75% 22.24% 18.71% 17.56%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 37.50 49.63 32.07 31.44 18.90 21.18 28.73 54.13 77.89 8.61 5.54
NOPAT to Interest Expense		 26.12 33.89 21.98 21.83 15.16 17.31 26.35 45.95 61.89 6.86 4.56
EBIT Less CapEx to Interest Expense		 34.48 45.69 28.34 28.78 16.80 19.85 26.98 49.16 72.88 7.93 5.15
NOPAT Less CapEx to Interest Expense		 23.11 29.94 18.25 19.18 13.06 15.98 24.60 40.98 56.89 6.18 4.17
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 79.57% 12.40% 16.88% 15.03% 9.95% 36.01% 11.75% 15.46% 14.92% 15.01% 16.09%
Augmented Payout Ratio		 80.44% 12.40% 18.93% 16.98% 18.69% 53.81% 17.58% 17.31% 21.57% 18.35% 21.44%

Quarterly Metrics And Ratios for Heico

This table displays calculated financial ratios and metrics derived from Heico's official financial filings.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025 4/30/2025 7/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 26.63% 27.66% 26.93% 53.61% 44.36% 38.90% 37.26% 8.25% 14.93% 14.91% 15.66%
EBITDA Growth		 28.51% 27.69% 17.74% 36.03% 42.81% 34.88% 45.39% 12.71% 22.08% 17.91% 21.05%
EBIT Growth		 31.32% 27.90% 16.59% 30.13% 39.07% 33.14% 44.47% 15.12% 25.89% 18.69% 22.84%
NOPAT Growth		 13.41% 32.18% 29.68% 29.77% 47.82% 33.26% 45.55% 22.64% 32.69% 18.84% 21.20%
Net Income Growth		 9.29% 23.57% 21.13% 3.08% 21.82% 17.24% 31.10% 32.86% 44.69% 26.41% 29.00%
EPS Growth		 6.35% 22.58% 23.33% 5.71% 22.39% 15.79% 31.08% 35.14% 46.34% 27.27% 29.90%
Operating Cash Flow Growth		 -1.66% -19.66% -2.17% 3.08% 45.60% 81.53% 46.62% 38.58% 81.85% 45.03% 8.07%
Free Cash Flow Firm Growth		 -1,901.13% -324.15% -226.56% -670.93% -132.52% -139.01% -147.28% 96.67% 89.28% 84.24% 67.77%
Invested Capital Growth		 37.31% 33.42% 31.81% 87.58% 60.73% 56.45% 56.44% 4.53% 7.29% 8.52% 14.27%
Revenue Q/Q Growth		 1.85% 10.78% 5.10% 29.54% -4.28% 6.59% 3.86% 2.16% 1.63% 6.56% 4.53%
EBITDA Q/Q Growth		 -8.74% 19.11% -3.93% 30.26% -4.19% 12.50% 3.55% 0.98% 3.78% 8.66% 6.31%
EBIT Q/Q Growth		 -11.14% 21.03% -4.55% 26.76% -5.04% 15.88% 3.57% 1.01% 3.85% 9.25% 7.19%
NOPAT Q/Q Growth		 -4.63% 15.10% -1.49% 20.01% 8.64% 3.76% 7.60% 1.11% 17.55% -7.07% 9.74%
Net Income Q/Q Growth		 -6.51% 11.70% -2.01% 0.72% 10.49% 7.51% 9.57% 2.08% 20.33% -6.08% 11.82%
EPS Q/Q Growth		 -4.29% 13.43% -2.63% 0.00% 10.81% 7.32% 10.23% 3.09% 20.00% -6.67% 12.50%
Operating Cash Flow Q/Q Growth		 -46.73% 1.39% 87.68% 1.68% -24.75% 26.41% 51.59% -3.89% -1.26% 0.82% 12.95%
Free Cash Flow Firm Q/Q Growth		 -169.01% 7.54% 4.21% -223.58% 18.86% 4.96% 0.90% 95.64% -160.81% -39.72% -102.67%
Invested Capital Q/Q Growth		 19.12% 2.91% -0.23% 53.37% 2.07% 0.17% -0.24% 2.48% 4.77% 1.32% 5.04%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 39.26% 38.75% 38.56% 38.92% 38.69% 38.92% 39.23% 38.86% 39.38% 39.88% 39.84%
EBITDA Margin		 25.31% 27.21% 24.87% 25.01% 25.03% 26.42% 26.35% 26.04% 26.59% 27.11% 27.58%
Operating Margin		 20.85% 22.84% 20.66% 20.23% 20.10% 21.89% 21.81% 21.57% 22.02% 22.60% 23.09%
EBIT Margin		 20.95% 22.89% 20.79% 20.34% 20.18% 21.94% 21.88% 21.63% 22.10% 22.66% 23.24%
Profit (Net Income) Margin		 16.59% 16.73% 15.60% 12.13% 14.00% 14.12% 14.90% 14.89% 17.62% 15.53% 16.62%
Tax Burden Percent		 83.07% 78.78% 81.61% 77.22% 88.19% 78.84% 81.98% 82.05% 92.98% 78.97% 81.15%
Interest Burden Percent		 95.33% 92.78% 91.93% 77.20% 78.66% 81.63% 83.06% 83.85% 85.75% 86.79% 88.11%
Effective Tax Rate		 16.93% 21.22% 18.39% 22.78% 11.81% 21.16% 18.02% 17.95% 7.02% 21.03% 18.85%
Return on Invested Capital (ROIC)		 12.58% 13.35% 13.25% 10.31% 11.84% 12.33% 13.79% 11.38% 13.17% 11.80% 12.54%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.38% 11.11% 10.35% 7.65% 9.57% 10.20% 11.49% 10.08% 11.86% 10.60% 11.39%
Return on Net Nonoperating Assets (RNNOA)		 1.51% 1.45% 1.07% 2.88% 4.16% 4.09% 4.10% 5.78% 6.73% 5.40% 5.63%
Return on Equity (ROE)		 14.09% 14.80% 14.32% 13.19% 16.01% 16.42% 17.88% 17.17% 19.90% 17.20% 18.18%
Cash Return on Invested Capital (CROIC)		 -18.78% -15.58% -13.60% -49.78% -35.25% -31.98% -30.81% 6.91% 4.79% 4.04% -0.82%
Operating Return on Assets (OROA)		 11.78% 13.31% 11.88% 10.69% 10.78% 12.59% 12.85% 11.29% 11.59% 12.12% 12.50%
Return on Assets (ROA)		 9.33% 9.73% 8.92% 6.38% 7.48% 8.10% 8.75% 7.77% 9.24% 8.31% 8.93%
Return on Common Equity (ROCE)		 12.40% 12.98% 12.61% 11.61% 14.11% 14.52% 15.97% 15.28% 17.63% 15.28% 16.28%
Return on Equity Simple (ROE_SIMPLE)		 14.80% 14.95% 15.13% 0.00% 14.29% 14.36% 14.74% 0.00% 16.42% 16.40% 0.00%
Net Operating Profit after Tax (NOPAT)		 108 124 122 146 159 165 177 179 211 196 215
NOPAT Margin		 17.32% 17.99% 16.86% 15.62% 17.73% 17.26% 17.88% 17.70% 20.47% 17.85% 18.74%
Net Nonoperating Expense Percent (NNEP)		 1.20% 2.24% 2.90% 2.66% 2.27% 2.13% 2.30% 1.30% 1.31% 1.21% 1.15%
Return On Investment Capital (ROIC_SIMPLE)		 - - - 2.58% 2.73% - - 3.03% 3.42% 3.10% 3.23%
Cost of Revenue to Revenue		 60.74% 61.25% 61.44% 61.08% 61.31% 61.08% 60.77% 61.14% 60.62% 60.12% 60.16%
SG&A Expenses to Revenue		 18.42% 15.91% 17.90% 18.69% 18.58% 17.02% 17.42% 17.29% 17.36% 17.28% 16.74%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 18.42% 15.91% 17.90% 18.69% 18.58% 17.02% 17.42% 17.29% 17.36% 17.28% 16.74%
Earnings before Interest and Taxes (EBIT)		 130 157 150 190 181 210 217 219 228 249 267
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 157 187 180 234 224 252 261 264 274 298 316
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 8.64 8.18 8.26 6.95 7.59 8.46 9.44 9.33 8.84 8.78 10.98
Price to Tangible Book Value (P/TBV)		 0.00 0.00 367.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 9.97 9.26 9.12 7.37 7.64 8.17 8.84 8.80 8.30 8.43 10.60
Price to Earnings (P/E)		 65.16 60.99 60.61 54.18 58.30 64.70 69.95 66.04 58.37 57.97 70.83
Dividend Yield		 0.11% 0.11% 0.11% 0.13% 0.11% 0.10% 0.09% 0.09% 0.09% 0.09% 0.07%
Earnings Yield		 1.53% 1.64% 1.65% 1.85% 1.72% 1.55% 1.43% 1.51% 1.71% 1.72% 1.41%
Enterprise Value to Invested Capital (EV/IC)		 6.53 6.28 6.54 4.19 4.60 5.22 6.00 5.94 5.57 5.74 7.04
Enterprise Value to Revenue (EV/Rev)		 10.41 9.67 9.46 8.28 8.48 8.91 9.49 9.45 8.97 9.04 11.23
Enterprise Value to EBITDA (EV/EBITDA)		 38.72 35.96 35.90 32.42 33.33 35.12 36.88 36.36 34.03 34.08 41.80
Enterprise Value to EBIT (EV/EBIT)		 46.06 42.76 42.79 39.13 40.52 42.79 44.94 44.07 40.97 40.95 50.03
Enterprise Value to NOPAT (EV/NOPAT)		 59.71 54.97 53.66 49.13 49.99 52.85 55.39 53.57 48.80 48.94 60.11
Enterprise Value to Operating Cash Flow (EV/OCF)		 52.16 53.77 56.26 54.79 56.88 57.19 58.31 54.20 46.86 45.19 57.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 87.94 120.46 147.84 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.25 0.24 0.37 0.70 0.68 0.63 0.58 0.55 0.56 0.51 0.53
Long-Term Debt to Equity		 0.25 0.23 0.36 0.69 0.68 0.63 0.57 0.55 0.55 0.51 0.53
Financial Leverage		 0.13 0.13 0.10 0.38 0.44 0.40 0.36 0.57 0.57 0.51 0.49
Leverage Ratio		 1.46 1.44 1.52 1.73 1.79 1.74 1.78 1.94 1.92 1.87 1.86
Compound Leverage Factor		 1.40 1.34 1.39 1.33 1.41 1.42 1.48 1.63 1.65 1.62 1.64
Debt to Total Capital		 20.24% 19.06% 26.90% 41.05% 40.44% 38.54% 36.52% 35.43% 35.72% 33.75% 34.48%
Short-Term Debt to Total Capital		 0.04% 0.48% 0.37% 0.29% 0.08% 0.07% 0.07% 0.07% 0.06% 0.06% 0.05%
Long-Term Debt to Total Capital		 20.20% 18.58% 26.52% 40.76% 40.36% 38.47% 36.46% 35.36% 35.66% 33.69% 34.43%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 9.96% 9.79% 8.60% 6.83% 6.73% 6.80% 6.24% 6.78% 7.41% 7.47% 7.17%
Common Equity to Total Capital		 69.79% 71.16% 64.50% 52.12% 52.83% 54.66% 57.23% 57.79% 56.87% 58.78% 58.35%
Debt to EBITDA		 1.25 1.13 1.75 3.27 3.03 2.68 2.32 2.22 2.24 2.08 2.12
Net Debt to EBITDA		 1.02 0.94 0.75 3.04 2.79 2.45 2.11 2.06 2.08 1.86 1.90
Long-Term Debt to EBITDA		 1.24 1.10 1.72 3.24 3.02 2.68 2.32 2.22 2.23 2.07 2.12
Debt to NOPAT		 1.92 1.72 2.61 4.95 4.54 4.04 3.49 3.28 3.21 2.98 3.06
Net Debt to NOPAT		 1.57 1.43 1.12 4.61 4.19 3.69 3.18 3.04 2.98 2.67 2.73
Long-Term Debt to NOPAT		 1.92 1.68 2.57 4.92 4.53 4.03 3.48 3.27 3.20 2.98 3.05
Altman Z-Score		 9.60 9.85 8.26 4.81 5.33 6.18 7.13 7.16 6.83 7.20 8.44
Noncontrolling Interest Sharing Ratio		 11.96% 12.31% 11.93% 11.96% 11.84% 11.53% 10.72% 11.00% 11.42% 11.18% 10.43%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.91 2.93 4.03 2.79 3.17 3.52 3.30 3.11 3.40 3.43 3.35
Quick Ratio		 1.03 1.05 2.19 1.02 1.11 1.27 1.19 1.06 1.11 1.25 1.21
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -904 -836 -801 -2,592 -2,103 -1,999 -1,981 -86 -225 -315 -638
Operating Cash Flow to CapEx		 707.04% 702.03% 1,190.71% 972.46% 834.66% 1,090.05% 1,349.87% 1,278.27% 1,171.24% 1,282.23% 1,814.99%
Free Cash Flow to Firm to Interest Expense		 -149.05 -73.53 -66.09 -59.69 -54.47 -51.90 -53.84 -2.44 -6.95 -9.58 -20.14
Operating Cash Flow to Interest Expense		 12.64 6.84 12.04 3.42 2.89 3.66 5.82 5.81 6.26 6.23 7.29
Operating Cash Flow Less CapEx to Interest Expense		 10.85 5.86 11.03 3.07 2.55 3.33 5.39 5.35 5.72 5.74 6.89
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.56 0.58 0.57 0.53 0.53 0.57 0.59 0.52 0.52 0.53 0.54
Accounts Receivable Turnover		 8.45 7.89 8.40 7.38 8.13 8.11 8.58 7.37 8.02 7.55 7.64
Inventory Turnover		 2.37 2.44 2.52 2.27 2.25 2.38 2.49 2.16 2.13 2.15 2.13
Fixed Asset Turnover		 9.97 10.65 10.83 10.84 10.77 11.69 12.29 11.67 11.80 12.05 11.17
Accounts Payable Turnover		 12.71 12.39 13.00 11.26 12.05 12.55 13.30 11.65 12.06 11.79 11.85
Days Sales Outstanding (DSO)		 43.20 46.28 43.44 49.43 44.87 44.98 42.54 49.56 45.49 48.37 47.80
Days Inventory Outstanding (DIO)		 154.08 149.37 144.69 160.53 162.22 153.66 146.81 169.23 171.73 169.78 171.27
Days Payable Outstanding (DPO)		 28.72 29.46 28.07 32.43 30.28 29.09 27.43 31.32 30.26 30.95 30.81
Cash Conversion Cycle (CCC)		 168.56 166.19 160.05 177.53 176.80 169.55 161.91 187.47 186.96 187.20 188.26
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,725 3,833 3,824 5,865 5,987 5,997 5,982 6,131 6,423 6,508 6,836
Invested Capital Turnover		 0.73 0.74 0.79 0.66 0.67 0.71 0.77 0.64 0.64 0.66 0.67
Increase / (Decrease) in Invested Capital		 1,012 960 923 2,738 2,262 2,164 2,158 266 436 511 853
Enterprise Value (EV)		 24,338 24,063 24,994 24,586 27,514 31,290 35,867 36,444 35,793 37,382 48,154
Market Capitalization		 23,312 23,048 24,085 21,867 24,793 28,683 33,425 33,950 33,117 34,842 45,459
Book Value per Share		 $19.75 $20.58 $21.27 $22.77 $23.62 $24.50 $25.56 $26.24 $26.99 $28.55 $29.77
Tangible Book Value per Share		 ($1.24) ($0.42) $0.48 ($10.75) ($10.05) ($8.89) ($7.59) ($7.78) ($8.58) ($7.17) ($7.32)
Total Capital		 3,867 3,960 4,518 6,036 6,183 6,201 6,185 6,293 6,588 6,750 7,098
Total Debt		 783 755 1,215 2,478 2,500 2,390 2,259 2,229 2,354 2,278 2,448
Total Long-Term Debt		 781 736 1,198 2,460 2,496 2,385 2,255 2,225 2,350 2,274 2,444
Net Debt		 640 627 521 2,307 2,304 2,185 2,056 2,067 2,188 2,036 2,186
Capital Expenditures (CapEx)		 11 11 12 15 13 13 16 16 17 16 13
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 724 792 775 1,037 1,117 1,210 1,213 1,240 1,323 1,380 1,417
Debt-free Net Working Capital (DFNWC)		 867 919 1,470 1,208 1,313 1,414 1,416 1,403 1,488 1,622 1,678
Net Working Capital (NWC)		 865 900 1,453 1,190 1,308 1,410 1,412 1,398 1,484 1,618 1,675
Net Nonoperating Expense (NNE)		 4.51 8.69 9.15 33 33 30 30 29 29 25 24
Net Nonoperating Obligations (NNO)		 640 627 521 2,307 2,304 2,185 2,056 2,067 2,188 2,036 2,186
Total Depreciation and Amortization (D&A)		 27 30 30 44 44 43 44 45 46 49 50
Debt-free, Cash-free Net Working Capital to Revenue		 30.97% 31.81% 29.36% 34.93% 34.43% 34.46% 32.10% 32.16% 33.14% 33.38% 33.03%
Debt-free Net Working Capital to Revenue		 37.07% 36.93% 55.64% 40.69% 40.48% 40.27% 37.47% 36.36% 37.29% 39.24% 39.13%
Net Working Capital to Revenue		 37.00% 36.17% 55.01% 40.09% 40.33% 40.15% 37.36% 36.25% 37.19% 39.15% 39.04%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.68 $0.77 $0.74 $0.75 $0.83 $0.89 $0.99 $1.00 $1.21 $1.13 $1.27
Adjusted Weighted Average Basic Shares Outstanding		 136.66M 136.92M 137.01M 137.19M 138.27M 138.39M 138.52M 138.46M 138.84M 139.01M 139.14M
Adjusted Diluted Earnings per Share		 $0.67 $0.76 $0.74 $0.74 $0.82 $0.88 $0.97 $1.00 $1.20 $1.12 $1.26
Adjusted Weighted Average Diluted Shares Outstanding		 138.58M 138.60M 138.67M 138.91M 139.89M 140.06M 140.31M 140.20M 140.48M 140.60M 140.95M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 136.89M 137.00M 138.19M 138.25M 138.36M 138.50M 138.60M 138.83M 138.95M 139.10M 139.21M
Normalized Net Operating Profit after Tax (NOPAT)		 108 124 122 146 159 165 177 179 211 196 215
Normalized NOPAT Margin		 17.32% 17.99% 16.86% 15.62% 17.73% 17.26% 17.88% 17.70% 20.47% 17.85% 18.74%
Pre Tax Income Margin		 19.97% 21.23% 19.11% 15.70% 15.87% 17.91% 18.17% 18.14% 18.95% 19.67% 20.48%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 21.44 13.84 12.40 4.39 4.69 5.44 5.90 6.19 7.02 7.57 8.41
NOPAT to Interest Expense		 17.72 10.88 10.06 3.37 4.12 4.28 4.82 5.07 6.50 5.96 6.78
EBIT Less CapEx to Interest Expense		 19.65 12.87 11.39 4.04 4.34 5.11 5.47 5.74 6.48 7.08 8.01
NOPAT Less CapEx to Interest Expense		 15.93 9.91 9.05 3.02 3.77 3.95 4.39 4.61 5.96 5.48 6.38
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 14.08% 15.62% 13.52% 15.01% 13.78% 11.77% 15.88% 16.09% 15.10% 14.54% 10.96%
Augmented Payout Ratio		 21.24% 21.74% 18.90% 18.35% 13.81% 12.82% 17.33% 21.44% 20.05% 18.99% 14.86%

Key Financial Trends

HEICO Corp (NYSE: HEI) has exhibited solid financial performance and operational trends over the past four years, as seen from their quarterly financial data ending Q2 2025. Here's an analysis highlighting key points from the latest quarters and comparing them over time:

  • Revenue Growth: Heico's total revenue has steadily increased from $620.9 million in Q1 2023 to $1.10 billion in Q2 2025, reflecting strong top-line growth and demand for its products and services.
  • Profitability: Net income from continuing operations rose from $103 million in Q1 2023 to $170.5 million in Q2 2025, demonstrating solid earnings growth. Diluted EPS similarly increased from $0.67 to $1.12 over the same period.
  • Gross Profit Improvement: Gross profit has improved consistently, correlating with revenue growth, reaching $437.8 million in Q2 2025 compared to $243.8 million in Q1 2023.
  • Operating Efficiency: Operating expenses have grown more slowly relative to revenue, indicating improved expense control and operational leverage.
  • Strong Operating Cash Flow: Net cash from continuing operating activities remains robust, with $204.7 million generated in Q2 2025, supporting ongoing investments and financial flexibility.
  • Decreasing Debt Load: Heico has been actively repaying debt, reducing net borrowings, with repayments of $75 million in Q2 2025. This deleveraging effort strengthens the balance sheet.
  • Strategic Acquisitions: The company continues to invest in acquisitions, spending $31.4 million in Q2 2025 and significant amounts in prior quarters, highlighting a focus on growth through strategic expansion.
  • Inventories Increase: Inventories have risen substantially from around $697 million in Q1 2023 to $1.24 billion in Q2 2025, which could indicate growing business but also risk of excess stock or demand variability.
  • Goodwill and Intangibles Are Significant: Total goodwill and intangible assets reached nearly $5 billion, indicating substantial acquisition activity but also potential risks related to asset impairment.
  • High Capital Expenditures and Acquisitions Impacting Cash: Heavy investing activities, with expenditures on property, plant, equipment and acquisitions ($31 million in Q2 2025 and much higher in previous quarters), have led to negative net cash flow from investing activities, totaling -$51.8 million in Q2 2025.

Summary: Heico has demonstrated consistent revenue and earnings growth, supported by strong cash flow from operations and effective management of costs. The company is strengthening its balance sheet by actively repaying debt and making strategic acquisitions to fuel growth. However, investors should monitor the rising inventory levels and the substantial amount of goodwill on the balance sheet, which could become risk factors if business conditions change. Moreover, heavy capital and acquisition spending affects free cash flow, requiring prudent financial management going forward.

08/28/25 06:03 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Heico's Financials

When does Heico's financial year end?

According to the most recent income statement we have on file, Heico's fiscal year ends in October. Their fiscal year 2024 ended on October 31, 2024.

How has Heico's net income changed over the last 10 years?

Heico's net income appears to be on an upward trend, with a most recent value of $559.09 million in 2024, rising from $138.77 million in 2014. The previous period was $444.38 million in 2023. See where experts think Heico is headed by visiting Heico's forecast page.

What is Heico's operating income?
Heico's total operating income in 2024 was $824.46 million, based on the following breakdown:
  • Total Gross Profit: $1.50 billion
  • Total Operating Expenses: $677.27 million
How has Heico's revenue changed over the last 10 years?

Over the last 10 years, Heico's total revenue changed from $1.13 billion in 2014 to $3.86 billion in 2024, a change of 240.7%.

How much debt does Heico have?

Heico's total liabilities were at $3.53 billion at the end of 2024, a 3.0% decrease from 2023, and a 423.1% increase since 2014.

How much cash does Heico have?

In the past 10 years, Heico's cash and equivalents has ranged from $0.00 in 2018 to $406.85 million in 2020, and is currently $162.10 million as of their latest financial filing in 2024.

How has Heico's book value per share changed over the last 10 years?

Over the last 10 years, Heico's book value per share changed from 10.51 in 2014 to 26.24 in 2024, a change of 149.7%.


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This page (NYSE:HEI.A) was last updated on 8/28/2025 by MarketBeat.com Staff
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