What is Heico's operating income?

Heico's total operating income in 2025 was $1.02 billion, based on the following breakdown: Total Gross Profit: $1.79 billion Total Operating Expenses: $767.47 million

Heico (HEI) Financials

$337.39 +0.06 (+0.02%)

Closing price 06/18/2026 03:59 PM Eastern

Extended Trading

$336.92 -0.48 (-0.14%)

As of 06/18/2026 08:00 PM Eastern

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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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	10/31/2025
Net Income / (Loss) Attributable to Common Shareholders	133	156	186	259	328	314	304	352	404	514	690
Consolidated Net Income / (Loss)	154	176	208	286	360	336	330	391	444	559	746
Net Income / (Loss) Continuing Operations	154	176	208	286	360	336	330	391	444	559	746
Total Pre-Tax Income	225	257	298	356	438	365	387	491	555	678	894
Total Operating Income	230	265	307	376	457	377	393	497	625	824	1,019
Total Gross Profit	434	515	575	691	814	682	727	863	1,153	1,502	1,786
Total Revenue	1,189	1,376	1,525	1,778	2,056	1,787	1,866	2,208	2,968	3,858	4,485
Operating Revenue	1,189	1,376	1,525	1,778	2,056	1,787	1,866	2,208	2,968	3,858	4,485
Total Cost of Revenue	754	861	950	1,087	1,242	1,105	1,138	1,346	1,815	2,356	2,699
Operating Cost of Revenue	754	861	950	1,087	1,242	1,105	1,138	1,346	1,815	2,356	2,699
Total Operating Expenses	205	250	268	314	357	305	335	366	528	677	767
Selling, General & Admin Expense	205	250	268	314	357	305	335	366	528	677	767
Total Other Income / (Expense), net	-4.69	-8.30	-8.70	-20	-19	-12	-5.84	-5.82	-70	-147	-125
Interest Expense	4.63	8.27	9.79	20	22	13	7.29	6.39	73	149	130
Other Income / (Expense), net	-0.07	-0.02	1.09	-0.06	2.44	1.37	1.44	0.57	2.93	2.44	4.43
Income Tax Expense	71	81	90	71	78	29	57	100	111	119	148
Net Income / (Loss) Attributable to Noncontrolling Interest	20	20	22	26	32	22	26	39	41	45	55
Basic Earnings per Share	$1.60	$1.19	$1.41	$1.96	$2.45	$2.33	$2.25	$2.59	$2.94	$3.71	$4.97
Weighted Average Basic Shares Outstanding	83.43M	130.95M	131.70M	132.54M	133.64M	134.75M	135.33M	136.01M	137.19M	138.46M	139.05M
Diluted Earnings per Share	$1.57	$1.17	$1.37	$1.90	$2.39	$2.29	$2.21	$2.55	$2.91	$3.67	$4.90
Weighted Average Diluted Shares Outstanding	84.76M	133.15M	135.59M	136.70M	137.35M	137.30M	137.85M	138.04M	138.91M	140.20M	140.77M
Weighted Average Basic & Diluted Shares Outstanding	66.70M	84M	131.90M	132.30M	134.50M	135.22M	135.51M	136.64M	138.25M	138.83M	139.36M
Cash Dividends to Common per Share	$0.14	$0.16	$0.10	$0.12	$0.14	$0.16	$0.17	$0.18	$0.20	$0.21	$0.23

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026	4/30/2026
Net Income / (Loss) Attributable to Common Shareholders	103	115	123	137	140	168	157	177	188	190	234
Consolidated Net Income / (Loss)	114	125	135	148	151	182	171	191	203	205	250
Net Income / (Loss) Continuing Operations	114	125	135	148	151	182	171	191	203	205	250
Total Pre-Tax Income	147	142	171	180	184	195	216	235	247	231	318
Total Operating Income	189	180	209	216	219	227	248	265	279	260	350
Total Gross Profit	364	347	372	389	394	406	438	457	486	455	570
Total Revenue	936	896	955	992	1,014	1,030	1,098	1,148	1,209	1,179	1,376
Operating Revenue	936	896	955	992	1,014	1,030	1,098	1,148	1,209	1,179	1,376
Total Cost of Revenue	572	550	584	603	620	625	660	690	724	724	806
Operating Cost of Revenue	572	550	584	603	620	625	660	690	724	724	806
Total Operating Expenses	175	167	163	173	175	179	190	192	207	195	219
Selling, General & Admin Expense	175	167	163	173	175	179	190	192	207	195	219
Total Other Income / (Expense), net	-42	-38	-38	-36	-35	-32	-32	-30	-32	-28	-33
Interest Expense	43	39	39	37	35	32	33	32	33	29	34
Other Income / (Expense), net	1.04	0.68	0.46	0.66	0.65	0.92	0.64	1.66	1.22	1.04	1.25
Income Tax Expense	34	17	36	33	33	14	45	44	45	27	67
Net Income / (Loss) Attributable to Noncontrolling Interest	10	11	12	11	11	14	14	13	14	15	17
Basic Earnings per Share	$0.75	$0.83	$0.89	$0.99	$1.00	$1.21	$1.13	$1.27	$1.36	$1.36	$1.68
Weighted Average Basic Shares Outstanding	137.19M	138.27M	138.39M	138.52M	138.46M	138.84M	139.01M	139.14M	139.05M	139.37M	139.56M
Diluted Earnings per Share	$0.74	$0.82	$0.88	$0.97	$1.00	$1.20	$1.12	$1.26	$1.32	$1.35	$1.66
Weighted Average Diluted Shares Outstanding	138.91M	139.89M	140.06M	140.31M	140.20M	140.48M	140.60M	140.95M	140.77M	141.03M	141.07M
Weighted Average Basic & Diluted Shares Outstanding	138.25M	138.36M	138.50M	138.60M	138.83M	138.95M	139.10M	139.21M	139.36M	139.52M	139.66M

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	10/31/2025
Net Change in Cash & Equivalents	13	9.35	9.11	7.53	-2.60	350	-299	31	32	-8.95	56
Net Cash From Operating Activities	173	260	288	328	437	409	444	468	449	672	934
Net Cash From Continuing Operating Activities	173	260	288	328	437	409	444	468	449	672	934
Net Income / (Loss) Continuing Operations	154	176	208	286	360	336	330	391	444	559	746
Consolidated Net Income / (Loss)	154	176	208	286	360	336	330	391	444	559	746
Depreciation Expense	48	60	65	77	83	89	93	96	130	175	196
Non-Cash Adjustments To Reconcile Net Income	7.07	13	11	12	28	3.14	20	21	3.75	39	46
Changes in Operating Assets and Liabilities, net	-36	9.82	5.16	-47	-34	-18	1.78	-40	-129	-101	-53
Net Cash From Investing Activities	-186	-308	-458	-114	-281	-199	-183	-396	-2,484	-293	-732
Net Cash From Continuing Investing Activities	-186	-308	-458	-114	-281	-199	-183	-396	-2,484	-293	-732
Purchase of Property, Plant & Equipment	-18	-31	-26	-42	-29	-23	-36	-32	-49	-58	-73
Acquisitions	-167	-264	-418	-60	-241	-164	-137	-347	-2,422	-219	-630
Purchase of Investments	-	-11	-13	-12	-14	-16	-14	-15	-19	-20	-33
Other Investing Activities, net	-0.97	-2.94	-0.55	-0.37	2.83	3.74	3.23	-1.24	5.65	4.26	3.98
Net Cash From Financing Activities	27	57	176	-208	-160	138	-559	-34	2,065	-389	-151
Net Cash From Continuing Financing Activities	27	57	176	-208	-160	138	-559	-34	2,065	-389	-151
Repayment of Debt	-132	-170	-191	-208	-284	-68	-506	-213	-1,001	-379	-550
Repurchase of Common Equity	0.00	-3.60	-4.05	-25	-64	-20	-6.13	-26	-15	-30	-22
Payment of Dividends	-19	-30	-31	-28	-130	-39	-51	-58	-67	-90	-76
Issuance of Debt	174	260	404	56	313	245	0.00	262	1,964	130	495
Issuance of Common Equity	3.67	5.92	5.66	4.03	0.00	21	0.53	0.00	1,189	0.00	0.00
Other Financing Activities, net	1.01	-5.81	-7.38	-6.09	4.47	-1.49	4.06	1.42	-6.21	-21	2.93
Effect of Exchange Rate Changes	-0.82	1.01	3.17	0.09	0.39	-	-0.22	-6.99	2.23	1.28	3.78

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	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026	4/30/2026
Net Change in Cash & Equivalents	-523	25	7.84	-1.22	-41	3.36	77	20	-44	43	-51
Net Cash From Operating Activities	148	112	141	214	206	203	205	231	295	179	292
Net Cash From Continuing Operating Activities	148	112	141	214	206	203	205	231	295	179	292
Net Income / (Loss) Continuing Operations	114	125	135	148	151	182	171	191	203	205	250
Consolidated Net Income / (Loss)	114	125	135	148	151	182	171	191	203	205	250
Depreciation Expense	44	44	43	44	45	46	49	50	51	51	57
Non-Cash Adjustments To Reconcile Net Income	15	6.98	50	19	-37	20	17	-20	30	27	18
Changes in Operating Assets and Liabilities, net	-24	-64	-87	2.36	48	-44	-32	11	11	-104	-33
Net Cash From Investing Activities	-1,910	-71	-14	-27	-181	-288	-52	-358	-34	-447	-404
Net Cash From Continuing Investing Activities	-1,910	-71	-14	-27	-181	-288	-52	-358	-34	-447	-404
Purchase of Property, Plant & Equipment	-15	-13	-13	-16	-16	-17	-16	-13	-27	-13	-18
Acquisitions	-1,895	-46	-	-9.00	-164	-255	-31	-344	0.10	-441	-380
Purchase of Investments	-4.89	-13	-1.70	-2.10	-3.40	-15	-3.10	-3.99	-11	-14	-2.80
Other Investing Activities, net	4.96	1.16	0.50	0.09	2.52	-1.30	-1.30	2.56	4.02	22	-3.27
Net Cash From Financing Activities	1,241	-17	-118	-189	-65	91	-81	146	-306	310	62
Net Cash From Continuing Financing Activities	1,241	-17	-118	-189	-65	91	-81	146	-306	310	62
Repayment of Debt	-152	-29	-109	-130	-110	-20	-75	-180	-275	-103	-308
Repurchase of Common Equity	-	-2.81	0.46	-2.48	-25	-0.10	1.94	-0.56	-20	-4.53	-0.28
Payment of Dividends	-6.66	-23	-9.77	-47	-11	-29	-12	-28	-11	-28	-18
Issuance of Debt	1,400	50	-	-	80	145	-	350	-	443	388
Other Financing Activities, net	-0.18	-15	-4.16	-5.65	0.75	-7.02	-1.04	-1.40	12	2.08	-3.73

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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	10/31/2025
Total Assets	1,736	1,998	1,263	447	2,969	3,548	3,498	4,095	7,195	7,593	8,500
Total Current Assets	504	543	52	447	814	1,166	937	1,153	1,855	2,062	2,356
Cash & Equivalents	34	43	52	-	57	407	108	140	171	162	218
Accounts Receivable	182	202	-	-	274	210	245	295	509	538	638
Inventories, net	244	286	-	372	420	463	478	582	1,014	1,171	1,295
Prepaid Expenses	9.37	12	-	21	19	25	26	42	50	79	86
Other Current Assets	-	-	-	54	43	60	80	94	112	112	119
Plant, Property, & Equipment, net	106	122	130	0.00	173	169	194	226	322	339	432
Total Noncurrent Assets	1,127	1,334	1,081	0.00	1,982	2,213	2,367	2,717	5,018	5,191	5,712
Goodwill	767	866	1,081	-	1,269	1,383	1,450	1,672	3,274	3,380	3,662
Intangible Assets	273	367	-	-	551	579	582	733	1,357	1,335	1,471
Other Noncurrent Operating Assets	87	101	-	-	163	251	335	311	386	476	579
Total Liabilities & Shareholders' Equity	1,736	1,998	121	1,556	2,969	3,548	3,498	4,095	7,195	7,593	8,500
Total Liabilities	752	851	0.00	214	1,086	1,316	949	1,120	3,637	3,529	3,654
Total Current Liabilities	168	214	0.00	163	289	241	295	421	665	664	832
Short-Term Debt	0.36	0.41	-	-	0.91	1.05	1.52	1.65	18	4.11	3.36
Accounts Payable	65	73	-	-	106	76	86	117	206	198	231
Accrued Expenses	100	136	-	163	179	162	207	290	433	428	578
Current Deferred & Payable Income Tax Liabilities	3.19	4.62	-	-	3.05	1.65	0.96	12	8.55	34	20
Total Noncurrent Liabilities	583	637	0.00	51	797	1,075	654	699	2,972	2,865	2,822
Long-Term Debt	367	458	-	-	561	739	235	289	2,460	2,225	2,165
Noncurrent Deferred & Payable Income Tax Liabilities	111	65	-	51	51	56	41	71	132	114	107
Other Noncurrent Operating Liabilities	106	114	-	-	185	280	378	339	380	526	550
Commitments & Contingencies	0.00	0.00	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	91	100	131	133	188	221	253	328	365	366	467
Total Equity & Noncontrolling Interests	893	1,048	-11	1,210	1,695	2,011	2,297	2,648	3,193	3,697	4,379
Total Preferred & Common Equity	810	963	-11	1,105	1,667	1,980	2,263	2,606	3,146	3,637	4,305
Preferred Stock	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	809	963	-11	1,105	1,666	1,980	2,263	2,606	3,146	3,637	4,305
Common Stock	286	307	-	-	285	301	322	399	580	601	652
Retained Earnings	548	682	-	1,105	1,397	1,688	1,950	2,254	2,606	3,062	3,648
Accumulated Other Comprehensive Income / (Loss)	-25	-25	-11	-	-17	-9.15	-8.55	-46	-40	-26	5.58
Other Equity Adjustments	0.00	0.00	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	83	84	-	105	28	30	34	42	47	61	74

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	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	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	1/31/2026	4/30/2026
Total Assets	4,805	4,870	5,453	7,336	7,366	7,422	7,891	8,092	8,532	9,044	9,592
Total Current Assets	1,319	1,367	1,932	1,912	1,969	2,027	2,103	2,283	2,386	2,480	2,636
Cash & Equivalents	143	127	694	196	204	203	165	242	262	261	210
Accounts Receivable	326	361	355	472	504	526	523	591	598	652	735
Inventories, net	697	722	732	1,069	1,088	1,125	1,219	1,244	1,310	1,338	1,411
Prepaid Expenses	51	53	47	67	62	69	77	80	83	111	149
Other Current Assets	102	103	103	109	110	104	118	125	133	117	132
Plant, Property, & Equipment, net	274	274	285	328	327	330	349	359	438	449	463
Total Noncurrent Assets	3,211	3,230	3,236	5,096	5,070	5,065	5,439	5,450	5,708	6,115	6,493
Goodwill	1,994	2,031	2,026	3,290	3,285	3,292	3,491	3,530	3,646	3,906	4,197
Intangible Assets	874	844	823	1,366	1,333	1,300	1,447	1,434	1,514	1,642	1,715
Other Noncurrent Operating Assets	343	354	388	440	452	473	501	486	548	567	580
Total Liabilities & Shareholders' Equity	4,805	4,870	5,453	7,336	7,366	7,422	7,891	8,092	8,532	9,044	9,592
Total Liabilities	1,720	1,665	2,150	3,654	3,555	3,496	3,656	3,620	3,882	3,998	4,201
Total Current Liabilities	453	467	479	604	559	615	618	665	711	811	904
Short-Term Debt	1.62	19	17	4.74	4.38	4.21	3.95	3.79	3.73	3.40	3.40
Accounts Payable	135	148	140	195	195	207	208	230	231	241	294
Accrued Expenses	291	296	316	382	354	399	360	383	468	534	594
Current Deferred & Payable Income Tax Liabilities	26	4.10	7.15	23	6.03	3.55	47	48	9.01	32	12
Total Noncurrent Liabilities	1,267	1,198	1,671	3,049	2,996	2,882	3,038	2,956	3,170	3,187	3,297
Long-Term Debt	781	736	1,198	2,496	2,385	2,255	2,350	2,274	2,444	2,504	2,584
Noncurrent Deferred & Payable Income Tax Liabilities	113	94	83	128	120	117	109	100	127	148	165
Other Noncurrent Operating Liabilities	372	368	389	426	490	510	579	581	599	535	549
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	340	346	344	366	368	329	424	436	438	465	537
Total Equity & Noncontrolling Interests	2,744	2,860	2,959	3,317	3,443	3,597	3,811	4,035	4,212	4,581	4,855
Total Preferred & Common Equity	2,699	2,818	2,914	3,266	3,389	3,540	3,747	3,968	4,141	4,503	4,772
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,699	2,818	2,914	3,266	3,389	3,540	3,747	3,968	4,141	4,503	4,772
Common Stock	390	400	408	587	600	615	620	639	652	661	731
Retained Earnings	2,329	2,435	2,523	2,705	2,825	2,954	3,180	3,329	3,489	3,823	4,033
Accumulated Other Comprehensive Income / (Loss)	-19	-18	-17	-26	-36	-29	-54	-0.41	0.88	18	7.47
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	45	42	45	50	53	57	64	68	71	78	83

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	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	10/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.98%	15.78%	10.79%	16.59%	15.63%	-13.07%	4.40%	18.37%	34.41%	29.97%	16.26%
EBITDA Growth	10.22%	17.33%	14.43%	21.69%	19.77%	-14.08%	4.46%	21.83%	27.72%	32.17%	21.68%
EBIT Growth	12.54%	15.56%	15.99%	22.24%	22.16%	-17.74%	4.32%	26.14%	26.31%	31.62%	23.77%
NOPAT Growth	10.29%	15.99%	17.54%	41.16%	24.49%	-7.68%	-3.45%	18.08%	26.61%	35.93%	24.98%
Net Income Growth	10.66%	14.71%	17.89%	37.57%	25.92%	-6.64%	-1.82%	18.46%	13.76%	25.81%	33.35%
EPS Growth	10.66%	14.71%	17.89%	38.69%	25.79%	-4.18%	-3.49%	15.38%	14.12%	26.12%	33.52%
Operating Cash Flow Growth	-9.35%	50.24%	11.00%	13.95%	33.15%	-6.46%	8.54%	5.35%	-4.09%	49.84%	38.95%
Free Cash Flow Firm Growth	-123.49%	-62.08%	1,009.79%	126.47%	-239.03%	109.54%	30.63%	-124.21%	-4,067.56%	118.52%	-55.52%
Invested Capital Growth	17.36%	18.50%	-22.48%	-80.74%	923.60%	7.41%	4.40%	16.77%	87.58%	4.53%	10.86%
Revenue Q/Q Growth	3.16%	2.58%	3.95%	3.23%	3.25%	-6.06%	4.67%	4.75%	12.37%	2.04%	4.56%
EBITDA Q/Q Growth	6.16%	3.24%	4.50%	3.59%	3.64%	-5.96%	5.79%	5.83%	8.91%	3.06%	5.86%
EBIT Q/Q Growth	6.87%	2.86%	4.70%	3.85%	3.83%	-7.60%	7.00%	6.67%	7.55%	3.61%	6.33%
NOPAT Q/Q Growth	5.55%	3.35%	5.02%	5.91%	5.26%	-7.42%	7.97%	4.99%	7.44%	5.05%	6.13%
Net Income Q/Q Growth	5.46%	3.22%	4.83%	5.54%	5.42%	-6.93%	8.48%	4.50%	0.77%	7.15%	7.48%
EPS Q/Q Growth	5.46%	3.22%	4.83%	2.70%	3.46%	-8.40%	8.87%	2.82%	1.39%	7.62%	6.99%
Operating Cash Flow Q/Q Growth	-6.43%	15.95%	8.13%	1.47%	2.40%	-3.27%	-0.04%	7.83%	1.00%	9.31%	10.62%
Free Cash Flow Firm Q/Q Growth	-135.43%	71.48%	628.40%	1,106.93%	-2,450.34%	-38.31%	-11.05%	-244.55%	-389.51%	127.43%	452.19%
Invested Capital Q/Q Growth	10.88%	-1.29%	-29.12%	-89.00%	-0.58%	2.54%	4.52%	7.77%	53.37%	2.48%	-0.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	36.53%	37.46%	37.69%	38.85%	39.59%	38.17%	38.99%	39.07%	38.86%	38.93%	39.83%
EBITDA Margin	23.35%	23.66%	24.43%	25.50%	26.42%	26.11%	26.12%	26.89%	25.55%	25.98%	27.19%
Operating Margin	19.32%	19.28%	20.11%	21.16%	22.24%	21.08%	21.06%	22.50%	21.07%	21.37%	22.72%
EBIT Margin	19.32%	19.28%	20.18%	21.16%	22.35%	21.15%	21.14%	22.52%	21.17%	21.44%	22.82%
Profit (Net Income) Margin	12.92%	12.80%	13.62%	16.07%	17.50%	18.79%	17.67%	17.69%	14.97%	14.49%	16.62%
Tax Burden Percent	68.26%	68.53%	69.69%	80.18%	82.16%	92.05%	85.20%	79.55%	80.03%	82.51%	83.44%
Interest Burden Percent	97.99%	96.88%	96.82%	94.71%	95.28%	96.52%	98.15%	98.72%	88.38%	81.94%	87.31%
Effective Tax Rate	31.74%	31.47%	30.31%	19.82%	17.84%	7.95%	14.80%	20.45%	19.97%	17.49%	16.56%
Return on Invested Capital (ROIC)	12.84%	12.62%	15.41%	41.77%	28.66%	14.00%	12.77%	13.62%	11.13%	11.34%	13.15%
ROIC Less NNEP Spread (ROIC-NNEP)	11.84%	11.11%	14.61%	213.87%	33.89%	11.41%	10.61%	10.30%	6.57%	5.80%	7.94%
Return on Net Nonoperating Assets (RNNOA)	4.23%	3.90%	17.35%	-2.72%	-6.35%	2.32%	1.02%	0.52%	2.47%	3.33%	3.58%
Return on Equity (ROE)	17.07%	16.53%	32.76%	39.05%	22.31%	16.32%	13.79%	14.14%	13.60%	14.67%	16.74%
Cash Return on Invested Capital (CROIC)	-3.14%	-4.31%	40.74%	177.17%	-135.74%	6.86%	8.46%	-1.85%	-49.78%	6.91%	2.85%
Operating Return on Assets (OROA)	14.24%	14.21%	18.87%	43.99%	26.90%	11.60%	11.19%	13.10%	11.13%	11.18%	12.72%
Return on Assets (ROA)	9.52%	9.43%	12.73%	33.41%	21.06%	10.31%	9.36%	10.29%	7.87%	7.56%	9.27%
Return on Common Equity (ROCE)	14.31%	13.74%	24.61%	29.20%	19.16%	14.46%	12.24%	12.46%	11.98%	13.06%	14.92%
Return on Equity Simple (ROE_SIMPLE)	18.96%	18.28%	-1,967.22%	25.86%	21.59%	16.96%	14.57%	14.99%	14.13%	15.37%	0.00%
Net Operating Profit after Tax (NOPAT)	157	182	214	302	376	347	335	395	500	680	850
NOPAT Margin	13.19%	13.21%	14.02%	16.97%	18.27%	19.40%	17.94%	17.90%	16.86%	17.63%	18.96%
Net Nonoperating Expense Percent (NNEP)	1.00%	1.52%	0.81%	-172.10%	-5.24%	2.59%	2.16%	3.32%	4.56%	5.54%	5.21%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	13.45%	8.82%	11.48%	12.99%
Cost of Revenue to Revenue	63.47%	62.54%	62.31%	61.15%	60.41%	61.83%	61.01%	60.93%	61.14%	61.07%	60.17%
SG&A Expenses to Revenue	17.21%	18.18%	17.58%	17.69%	17.35%	17.09%	17.93%	16.57%	17.79%	17.56%	17.11%
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%	18.18%	17.58%	17.69%	17.35%	17.09%	17.93%	16.57%	17.79%	17.56%	17.11%
Earnings before Interest and Taxes (EBIT)	230	265	308	376	460	378	394	497	628	827	1,023
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	277	326	373	453	543	467	487	594	758	1,002	1,220
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.11	4.66	0.00	10.01	9.87	7.12	8.31	8.50	6.95	9.33	10.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	10.01	0.00	785.09	81.62	110.61	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.80	3.26	4.98	6.22	8.00	7.89	10.08	10.04	7.37	8.80	9.86
Price to Earnings (P/E)	24.92	28.76	40.80	42.64	50.15	44.93	61.81	63.03	54.18	66.04	64.07
Dividend Yield	0.90%	0.24%	0.17%	0.13%	0.16%	0.15%	0.12%	0.11%	0.13%	0.09%	0.07%
Earnings Yield	4.01%	3.48%	2.45%	2.35%	1.99%	2.23%	1.62%	1.59%	1.85%	1.51%	1.56%
Enterprise Value to Invested Capital (EV/IC)	2.91	3.26	6.33	48.41	7.19	5.73	7.18	7.26	4.19	5.94	6.88
Enterprise Value to Revenue (EV/Rev)	3.22	3.70	5.03	6.35	8.35	8.22	10.30	10.27	8.28	9.45	10.42
Enterprise Value to EBITDA (EV/EBITDA)	13.81	15.63	20.58	24.91	31.61	31.49	39.43	38.21	32.42	36.36	38.32
Enterprise Value to EBIT (EV/EBIT)	16.69	19.19	24.91	30.02	37.35	38.87	48.74	45.61	39.13	44.07	45.66
Enterprise Value to NOPAT (EV/NOPAT)	24.44	28.00	35.87	37.43	45.70	42.38	57.41	57.39	49.13	53.57	54.96
Enterprise Value to Operating Cash Flow (EV/OCF)	22.17	19.60	26.59	34.38	39.24	35.91	43.28	48.49	54.79	54.20	50.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	13.57	8.83	0.00	86.53	86.65	0.00	0.00	87.94	253.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.37	0.40	0.00	0.00	0.30	0.33	0.09	0.10	0.70	0.55	0.45
Long-Term Debt to Equity	0.37	0.40	0.00	0.00	0.30	0.33	0.09	0.10	0.69	0.55	0.45
Financial Leverage	0.36	0.35	1.19	-0.01	-0.19	0.20	0.10	0.05	0.38	0.57	0.45
Leverage Ratio	1.79	1.75	2.57	1.17	1.06	1.58	1.47	1.37	1.73	1.94	1.81
Compound Leverage Factor	1.76	1.70	2.49	1.11	1.01	1.53	1.45	1.36	1.53	1.59	1.58
Debt to Total Capital	27.19%	28.54%	0.00%	0.00%	22.99%	24.90%	8.49%	8.89%	41.05%	35.43%	30.91%
Short-Term Debt to Total Capital	0.03%	0.03%	0.00%	0.00%	0.04%	0.04%	0.05%	0.05%	0.29%	0.07%	0.05%
Long-Term Debt to Total Capital	27.16%	28.52%	0.00%	0.00%	22.95%	24.86%	8.43%	8.84%	40.76%	35.36%	30.86%
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	12.92%	11.45%	108.76%	17.72%	8.85%	8.47%	10.28%	11.32%	6.83%	6.78%	7.72%
Common Equity to Total Capital	59.86%	59.98%	-8.76%	82.28%	68.13%	66.64%	81.23%	79.79%	52.12%	57.79%	61.38%
Debt to EBITDA	1.32	1.41	0.00	0.00	1.03	1.59	0.49	0.49	3.27	2.22	1.78
Net Debt to EBITDA	1.20	1.28	0.00	0.00	0.93	0.71	0.26	0.25	3.04	2.06	1.60
Long-Term Debt to EBITDA	1.32	1.41	0.00	0.00	1.03	1.58	0.48	0.49	3.24	2.22	1.78
Debt to NOPAT	2.34	2.52	0.00	0.00	1.50	2.13	0.71	0.73	4.95	3.28	2.55
Net Debt to NOPAT	2.13	2.28	0.00	0.00	1.34	0.96	0.38	0.38	4.61	3.04	2.29
Long-Term Debt to NOPAT	2.34	2.52	0.00	0.00	1.49	2.13	0.70	0.73	4.92	3.27	2.55
Altman Z-Score	4.45	4.97	0.00	41.99	11.16	8.27	13.80	13.80	5.01	7.42	9.00
Noncontrolling Interest Sharing Ratio	16.15%	16.86%	24.88%	25.23%	14.11%	11.39%	11.25%	11.88%	11.96%	11.00%	10.86%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.99	2.53	0.00	2.74	2.81	4.83	3.18	2.74	2.79	3.11	2.83
Quick Ratio	1.28	1.14	0.00	0.00	1.15	2.56	1.20	1.03	1.02	1.06	1.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-38	-62	565	1,280	-1,779	170	222	-54	-2,238	414	184
Operating Cash Flow to CapEx	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%	1,281.82%
Free Cash Flow to Firm to Interest Expense	-8.28	-7.51	57.71	64.30	-82.00	12.90	30.45	-8.41	-30.66	2.78	1.42
Operating Cash Flow to Interest Expense	37.37	31.40	29.45	16.51	20.16	31.09	60.96	73.26	6.15	4.50	7.19
Operating Cash Flow Less CapEx to Interest Expense	33.42	27.67	26.79	14.40	18.83	29.35	55.99	68.25	5.47	4.11	6.63
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.74	0.74	0.94	2.08	1.20	0.55	0.53	0.58	0.53	0.52	0.56
Accounts Receivable Turnover	7.18	7.17	0.00	0.00	0.00	7.37	8.19	8.18	7.38	7.37	7.63
Inventory Turnover	3.27	3.25	0.00	0.00	3.13	2.50	2.42	2.54	2.27	2.16	2.19
Fixed Asset Turnover	11.91	12.11	12.13	0.00	0.00	10.44	10.29	10.53	10.84	11.67	11.64
Accounts Payable Turnover	12.38	12.47	0.00	0.00	0.00	12.11	14.07	13.32	11.26	11.65	12.57
Days Sales Outstanding (DSO)	50.86	50.90	0.00	0.00	0.00	49.51	44.54	44.61	49.43	49.56	47.86
Days Inventory Outstanding (DIO)	111.65	112.33	0.00	0.00	116.46	145.94	150.91	143.84	160.53	169.23	166.79
Days Payable Outstanding (DPO)	29.47	29.26	0.00	0.00	0.00	30.14	25.94	27.41	32.43	31.32	29.04
Cash Conversion Cycle (CCC)	133.04	133.97	0.00	0.00	116.46	165.31	169.52	161.04	177.53	187.47	185.60
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,319	1,562	1,211	233	2,388	2,565	2,678	3,127	5,865	6,131	6,797
Invested Capital Turnover	0.97	0.96	1.10	2.46	1.57	0.72	0.71	0.76	0.66	0.64	0.69
Increase / (Decrease) in Invested Capital	195	244	-351	-978	2,155	177	113	449	2,738	266	666
Enterprise Value (EV)	3,832	5,091	7,667	11,293	17,164	14,692	19,218	22,685	24,586	36,444	46,727
Market Capitalization	3,323	4,491	7,588	11,055	16,443	14,107	18,804	22,165	21,867	33,950	44,236
Book Value per Share	$12.11	$14.32	($0.13)	$8.31	$12.42	$14.67	$16.72	$19.08	$22.77	$26.24	$30.93
Tangible Book Value per Share	($3.44)	($4.01)	($12.93)	$8.31	($1.15)	$0.13	$1.70	$1.47	($10.75)	($7.78)	($5.95)
Total Capital	1,352	1,605	121	1,343	2,445	2,972	2,786	3,266	6,036	6,293	7,014
Total Debt	368	458	0.00	0.00	562	740	236	290	2,478	2,229	2,168
Total Long-Term Debt	367	458	0.00	0.00	561	739	235	289	2,460	2,225	2,165
Net Debt	334	415	-52	0.00	505	333	128	151	2,307	2,067	1,950
Capital Expenditures (CapEx)	18	31	26	42	29	23	36	32	49	58	73
Debt-free, Cash-free Net Working Capital (DFCFNWC)	302	286	0.00	284	468	519	536	594	1,037	1,240	1,310
Debt-free Net Working Capital (DFNWC)	336	329	52	284	525	926	644	734	1,208	1,403	1,528
Net Working Capital (NWC)	335	329	52	284	525	924	643	732	1,190	1,398	1,524
Net Nonoperating Expense (NNE)	3.20	5.68	6.06	16	16	11	4.98	4.63	56	121	105
Net Nonoperating Obligations (NNO)	334	415	1,091	-1,109	505	333	128	151	2,307	2,067	1,950
Total Depreciation and Amortization (D&A)	48	60	65	77	83	89	93	96	130	175	196
Debt-free, Cash-free Net Working Capital to Revenue	25.41%	20.80%	0.00%	15.99%	22.79%	29.02%	28.71%	26.90%	34.93%	32.16%	29.21%
Debt-free Net Working Capital to Revenue	28.23%	23.92%	3.41%	15.99%	25.56%	51.79%	34.52%	33.22%	40.69%	36.36%	34.06%
Net Working Capital to Revenue	28.20%	23.89%	3.41%	15.99%	25.52%	51.73%	34.44%	33.14%	40.09%	36.25%	33.99%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.02	$1.19	$1.41	$1.96	$2.45	$2.33	$2.25	$2.59	$2.94	$3.71	$4.97
Adjusted Weighted Average Basic Shares Outstanding	130.35M	130.95M	131.70M	132.54M	133.64M	134.75M	135.33M	136.01M	137.19M	138.46M	139.05M
Adjusted Diluted Earnings per Share	$1.01	$1.17	$1.37	$1.90	$2.39	$2.29	$2.21	$2.55	$2.91	$3.67	$4.90
Adjusted Weighted Average Diluted Shares Outstanding	132.44M	133.14M	135.59M	136.70M	137.35M	137.30M	137.85M	138.04M	138.91M	140.20M	140.77M
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	130.61M	131.48M	132.04M	132.93M	134.50M	135.22M	135.51M	136.64M	138.25M	138.83M	139.36M
Normalized Net Operating Profit after Tax (NOPAT)	157	182	214	302	376	347	335	395	500	680	850
Normalized NOPAT Margin	13.19%	13.21%	14.02%	16.97%	18.27%	19.40%	17.94%	17.90%	16.86%	17.63%	18.96%
Pre Tax Income Margin	18.93%	18.68%	19.54%	20.04%	21.30%	20.42%	20.75%	22.24%	18.71%	17.56%	19.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	49.63	32.07	31.44	18.90	21.18	28.73	54.13	77.89	8.61	5.54	7.88
NOPAT to Interest Expense	33.89	21.98	21.83	15.16	17.31	26.35	45.95	61.89	6.86	4.56	6.55
EBIT Less CapEx to Interest Expense	45.69	28.34	28.78	16.80	19.85	26.98	49.16	72.88	7.93	5.15	7.32
NOPAT Less CapEx to Interest Expense	29.94	18.25	19.18	13.06	15.98	24.60	40.98	56.89	6.18	4.17	5.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.40%	16.88%	15.03%	9.95%	36.01%	11.75%	15.46%	14.92%	15.01%	16.09%	10.22%
Augmented Payout Ratio	12.40%	18.93%	16.98%	18.69%	53.81%	17.58%	17.31%	21.57%	18.35%	21.44%	13.23%

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026	4/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	139,206,481.00	139,518,399.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	139,206,481.00	139,518,399.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	1.37	1.68
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	53.61%	44.36%	38.90%	37.26%	8.25%	14.93%	14.91%	15.66%	19.31%	-	25.31%
EBITDA Growth	36.03%	42.81%	34.88%	45.39%	12.71%	22.08%	17.91%	21.05%	25.56%	-	37.18%
EBIT Growth	30.13%	39.07%	33.14%	44.47%	15.12%	25.89%	18.69%	22.84%	27.79%	-	41.36%
NOPAT Growth	29.77%	47.82%	33.26%	45.55%	22.64%	32.69%	18.84%	21.20%	27.49%	-	40.97%
Net Income Growth	3.08%	21.82%	17.24%	31.10%	32.86%	44.69%	26.41%	29.00%	34.40%	-	46.80%
EPS Growth	5.71%	22.39%	15.79%	31.08%	35.14%	46.34%	27.27%	29.90%	32.00%	-	48.21%
Operating Cash Flow Growth	3.08%	45.60%	81.53%	46.62%	38.58%	81.85%	45.03%	8.07%	43.63%	-	42.64%
Free Cash Flow Firm Growth	-670.93%	-132.52%	-139.01%	-147.28%	96.67%	89.28%	84.24%	67.77%	-405.74%	-	-212.60%
Invested Capital Growth	87.58%	60.73%	56.45%	56.44%	4.53%	7.29%	8.52%	14.27%	10.86%	-	19.38%
Revenue Q/Q Growth	29.54%	-4.28%	6.59%	3.86%	2.16%	1.63%	6.56%	4.53%	5.39%	-	16.73%
EBITDA Q/Q Growth	30.26%	-4.19%	12.50%	3.55%	0.98%	3.78%	8.66%	6.31%	4.74%	-	30.89%
EBIT Q/Q Growth	26.76%	-5.04%	15.88%	3.57%	1.01%	3.85%	9.25%	7.19%	5.08%	-	34.78%
NOPAT Q/Q Growth	20.01%	8.64%	3.76%	7.60%	1.11%	17.55%	-7.07%	9.74%	6.35%	-	20.16%
Net Income Q/Q Growth	0.72%	10.49%	7.51%	9.57%	2.08%	20.33%	-6.08%	11.82%	6.35%	-	22.26%
EPS Q/Q Growth	0.00%	10.81%	7.32%	10.23%	3.09%	20.00%	-6.67%	12.50%	4.76%	-	22.96%
Operating Cash Flow Q/Q Growth	1.68%	-24.75%	26.41%	51.59%	-3.89%	-1.26%	0.82%	12.95%	27.73%	-	63.48%
Free Cash Flow Firm Q/Q Growth	-223.58%	18.86%	4.96%	0.90%	95.64%	-160.81%	-39.72%	-102.67%	31.52%	-	-53.96%
Invested Capital Q/Q Growth	53.37%	2.07%	0.17%	-0.24%	2.48%	4.77%	1.32%	5.04%	-0.57%	-	6.53%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.92%	38.69%	38.92%	39.23%	38.86%	39.38%	39.88%	39.84%	40.17%	-	41.40%
EBITDA Margin	25.01%	25.03%	26.42%	26.35%	26.04%	26.59%	27.11%	27.58%	27.41%	-	29.68%
Operating Margin	20.23%	20.10%	21.89%	21.81%	21.57%	22.02%	22.60%	23.09%	23.07%	-	25.47%
EBIT Margin	20.34%	20.18%	21.94%	21.88%	21.63%	22.10%	22.66%	23.24%	23.17%	-	25.56%
Profit (Net Income) Margin	12.13%	14.00%	14.12%	14.90%	14.89%	17.62%	15.53%	16.62%	16.77%	-	18.20%
Tax Burden Percent	77.22%	88.19%	78.84%	81.98%	82.05%	92.98%	78.97%	81.15%	81.97%	-	78.84%
Interest Burden Percent	77.20%	78.66%	81.63%	83.06%	83.85%	85.75%	86.79%	88.11%	88.28%	-	90.29%
Effective Tax Rate	22.78%	11.81%	21.16%	18.02%	17.95%	7.02%	21.03%	18.85%	18.03%	-	21.16%
Return on Invested Capital (ROIC)	10.31%	11.84%	12.33%	13.79%	11.38%	13.17%	11.80%	12.54%	13.12%	-	13.82%
ROIC Less NNEP Spread (ROIC-NNEP)	7.65%	9.57%	10.20%	11.49%	10.08%	11.86%	10.60%	11.39%	11.83%	-	12.64%
Return on Net Nonoperating Assets (RNNOA)	2.88%	4.16%	4.09%	4.10%	5.78%	6.73%	5.40%	5.63%	5.33%	-	5.66%
Return on Equity (ROE)	13.19%	16.01%	16.42%	17.88%	17.17%	19.90%	17.20%	18.18%	18.46%	-	19.47%
Cash Return on Invested Capital (CROIC)	-49.78%	-35.25%	-31.98%	-30.81%	6.91%	4.79%	4.04%	-0.82%	2.85%	-	-4.36%
Operating Return on Assets (OROA)	10.69%	10.78%	12.59%	12.85%	11.29%	11.59%	12.12%	12.50%	12.92%	-	14.20%
Return on Assets (ROA)	6.38%	7.48%	8.10%	8.75%	7.77%	9.24%	8.31%	8.93%	9.35%	-	10.11%
Return on Common Equity (ROCE)	11.61%	14.11%	14.52%	15.97%	15.28%	17.63%	15.28%	16.28%	16.45%	-	17.25%
Return on Equity Simple (ROE_SIMPLE)	0.00%	14.29%	14.36%	14.74%	0.00%	16.42%	16.40%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	146	159	165	177	179	211	196	215	229	230	276
NOPAT Margin	15.62%	17.73%	17.26%	17.88%	17.70%	20.47%	17.85%	18.74%	18.91%	-	20.08%
Net Nonoperating Expense Percent (NNEP)	2.66%	2.27%	2.13%	2.30%	1.30%	1.31%	1.21%	1.15%	1.29%	-	1.18%
Return On Investment Capital (ROIC_SIMPLE)	2.58%	2.73%	-	-	3.03%	3.42%	3.10%	3.23%	3.49%	3.24%	3.71%
Cost of Revenue to Revenue	61.08%	61.31%	61.08%	60.77%	61.14%	60.62%	60.12%	60.16%	59.83%	-	58.60%
SG&A Expenses to Revenue	18.69%	18.58%	17.02%	17.42%	17.29%	17.36%	17.28%	16.74%	17.10%	-	15.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Operating Expenses to Revenue	18.69%	18.58%	17.02%	17.42%	17.29%	17.36%	17.28%	16.74%	17.10%	-	15.93%
Earnings before Interest and Taxes (EBIT)	190	181	210	217	219	228	249	267	280	261	352
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	234	224	252	261	264	274	298	316	331	312	408
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.95	7.59	8.46	9.44	9.33	8.84	8.78	10.98	10.27	-	7.89
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Revenue (P/Rev)	7.37	7.64	8.17	8.84	8.80	8.30	8.43	10.60	9.86	-	7.67
Price to Earnings (P/E)	54.18	58.30	64.70	69.95	66.04	58.37	57.97	70.83	64.07	-	47.69
Dividend Yield	0.13%	0.11%	0.10%	0.09%	0.09%	0.09%	0.09%	0.07%	0.07%	-	0.09%
Earnings Yield	1.85%	1.72%	1.55%	1.43%	1.51%	1.71%	1.72%	1.41%	1.56%	-	2.10%
Enterprise Value to Invested Capital (EV/IC)	4.19	4.60	5.22	6.00	5.94	5.57	5.74	7.04	6.88	-	5.23
Enterprise Value to Revenue (EV/Rev)	8.28	8.48	8.91	9.49	9.45	8.97	9.04	11.23	10.42	-	8.28
Enterprise Value to EBITDA (EV/EBITDA)	32.42	33.33	35.12	36.88	36.36	34.03	34.08	41.80	38.32	-	29.72
Enterprise Value to EBIT (EV/EBIT)	39.13	40.52	42.79	44.94	44.07	40.97	40.95	50.03	45.66	-	35.06
Enterprise Value to NOPAT (EV/NOPAT)	49.13	49.99	52.85	55.39	53.57	48.80	48.94	60.11	54.96	-	42.81
Enterprise Value to Operating Cash Flow (EV/OCF)	54.79	56.88	57.19	58.31	54.20	46.86	45.19	57.02	50.01	-	40.77
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	87.94	120.46	147.84	0.00	253.46	-	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.68	0.63	0.58	0.55	0.56	0.51	0.53	0.45	-	0.48
Long-Term Debt to Equity	0.69	0.68	0.63	0.57	0.55	0.55	0.51	0.53	0.45	-	0.48
Financial Leverage	0.38	0.44	0.40	0.36	0.57	0.57	0.51	0.49	0.45	-	0.45
Leverage Ratio	1.73	1.79	1.74	1.78	1.94	1.92	1.87	1.86	1.81	-	1.79
Compound Leverage Factor	1.33	1.41	1.42	1.48	1.63	1.65	1.62	1.64	1.59	-	1.62
Debt to Total Capital	41.05%	40.44%	38.54%	36.52%	35.43%	35.72%	33.75%	34.48%	30.91%	-	32.43%
Short-Term Debt to Total Capital	0.29%	0.08%	0.07%	0.07%	0.07%	0.06%	0.06%	0.05%	0.05%	-	0.04%
Long-Term Debt to Total Capital	40.76%	40.36%	38.47%	36.46%	35.36%	35.66%	33.69%	34.43%	30.86%	-	32.38%
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%
Noncontrolling Interests to Total Capital	6.83%	6.73%	6.80%	6.24%	6.78%	7.41%	7.47%	7.17%	7.72%	-	7.76%
Common Equity to Total Capital	52.12%	52.83%	54.66%	57.23%	57.79%	56.87%	58.78%	58.35%	61.38%	-	59.81%
Debt to EBITDA	3.27	3.03	2.68	2.32	2.22	2.24	2.08	2.12	1.78	-	1.89
Net Debt to EBITDA	3.04	2.79	2.45	2.11	2.06	2.08	1.86	1.90	1.60	-	1.74
Long-Term Debt to EBITDA	3.24	3.02	2.68	2.32	2.22	2.23	2.07	2.12	1.78	-	1.89
Debt to NOPAT	4.95	4.54	4.04	3.49	3.28	3.21	2.98	3.06	2.55	-	2.72
Net Debt to NOPAT	4.61	4.19	3.69	3.18	3.04	2.98	2.67	2.73	2.29	-	2.50
Long-Term Debt to NOPAT	4.92	4.53	4.03	3.48	3.27	3.20	2.98	3.05	2.55	-	2.72
Altman Z-Score	4.81	5.33	6.18	7.13	7.16	6.83	7.20	8.44	8.72	-	6.82
Noncontrolling Interest Sharing Ratio	11.96%	11.84%	11.53%	10.72%	11.00%	11.42%	11.18%	10.43%	10.86%	-	11.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.79	3.17	3.52	3.30	3.11	3.40	3.43	3.35	2.83	-	2.92
Quick Ratio	1.02	1.11	1.27	1.19	1.06	1.11	1.25	1.21	1.03	-	1.05
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2,592	-2,103	-1,999	-1,981	-86	-225	-315	-638	-437	-640	-985
Operating Cash Flow to CapEx	972.46%	834.66%	1,090.05%	1,349.87%	1,278.27%	1,171.24%	1,282.23%	1,814.99%	1,099.99%	-	1,617.58%
Free Cash Flow to Firm to Interest Expense	-59.69	-54.47	-51.90	-53.84	-2.44	-6.95	-9.58	-20.14	-13.31	-	-28.82
Operating Cash Flow to Interest Expense	3.42	2.89	3.66	5.82	5.81	6.26	6.23	7.29	8.99	-	8.55
Operating Cash Flow Less CapEx to Interest Expense	3.07	2.55	3.33	5.39	5.35	5.72	5.74	6.89	8.17	-	8.02
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.53	0.53	0.57	0.59	0.52	0.52	0.53	0.54	0.56	-	0.56
Accounts Receivable Turnover	7.38	8.13	8.11	8.58	7.37	8.02	7.55	7.64	7.63	-	7.41
Inventory Turnover	2.27	2.25	2.38	2.49	2.16	2.13	2.15	2.13	2.19	-	2.22
Fixed Asset Turnover	10.84	10.77	11.69	12.29	11.67	11.80	12.05	11.17	11.64	-	11.95
Accounts Payable Turnover	11.26	12.05	12.55	13.30	11.65	12.06	11.79	11.85	12.57	-	11.23
Days Sales Outstanding (DSO)	49.43	44.87	44.98	42.54	49.56	45.49	48.37	47.80	47.86	-	49.29
Days Inventory Outstanding (DIO)	160.53	162.22	153.66	146.81	169.23	171.73	169.78	171.27	166.79	-	164.60
Days Payable Outstanding (DPO)	32.43	30.28	29.09	27.43	31.32	30.26	30.95	30.81	29.04	-	32.49
Cash Conversion Cycle (CCC)	177.53	176.80	169.55	161.91	187.47	186.96	187.20	188.26	185.60	-	181.39
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,865	5,987	5,997	5,982	6,131	6,423	6,508	6,836	6,797	7,292	7,769
Invested Capital Turnover	0.66	0.67	0.71	0.77	0.64	0.64	0.66	0.67	0.69	-	0.69
Increase / (Decrease) in Invested Capital	2,738	2,262	2,164	2,158	266	436	511	853	666	869	1,261
Enterprise Value (EV)	24,586	27,514	31,290	35,867	36,444	35,793	37,382	48,154	46,727	-	40,655
Market Capitalization	21,867	24,793	28,683	33,425	33,950	33,117	34,842	45,459	44,236	-	37,659
Book Value per Share	$22.77	$23.62	$24.50	$25.56	$26.24	$26.99	$28.55	$29.77	$30.93	$32.31	$34.20
Tangible Book Value per Share	($10.75)	($10.05)	($8.89)	($7.59)	($7.78)	($8.58)	($7.17)	($7.32)	($5.95)	($7.50)	($8.17)
Total Capital	6,036	6,183	6,201	6,185	6,293	6,588	6,750	7,098	7,014	7,553	7,979
Total Debt	2,478	2,500	2,390	2,259	2,229	2,354	2,278	2,448	2,168	2,508	2,587
Total Long-Term Debt	2,460	2,496	2,385	2,255	2,225	2,350	2,274	2,444	2,165	2,504	2,584
Net Debt	2,307	2,304	2,185	2,056	2,067	2,188	2,036	2,186	1,950	2,247	2,377
Capital Expenditures (CapEx)	15	13	13	16	16	17	16	13	27	13	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,037	1,117	1,210	1,213	1,240	1,323	1,380	1,417	1,310	1,411	1,526
Debt-free Net Working Capital (DFNWC)	1,208	1,313	1,414	1,416	1,403	1,488	1,622	1,678	1,528	1,672	1,736
Net Working Capital (NWC)	1,190	1,308	1,410	1,412	1,398	1,484	1,618	1,675	1,524	1,669	1,733
Net Nonoperating Expense (NNE)	33	33	30	30	29	29	25	24	26	25	26
Net Nonoperating Obligations (NNO)	2,307	2,304	2,185	2,056	2,067	2,188	2,036	2,186	1,950	2,247	2,377
Total Depreciation and Amortization (D&A)	44	44	43	44	45	46	49	50	51	51	57
Debt-free, Cash-free Net Working Capital to Revenue	34.93%	34.43%	34.46%	32.10%	32.16%	33.14%	33.38%	33.03%	29.21%	-	31.07%
Debt-free Net Working Capital to Revenue	40.69%	40.48%	40.27%	37.47%	36.36%	37.29%	39.24%	39.13%	34.06%	-	35.35%
Net Working Capital to Revenue	40.09%	40.33%	40.15%	37.36%	36.25%	37.19%	39.15%	39.04%	33.99%	-	35.28%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.75	$0.83	$0.89	$0.99	$1.00	$1.21	$1.13	$1.27	$1.36	$1.36	$1.68
Adjusted Weighted Average Basic Shares Outstanding	137.19M	138.27M	138.39M	138.52M	138.46M	138.84M	139.01M	139.14M	139.05M	139.37M	139.56M
Adjusted Diluted Earnings per Share	$0.74	$0.82	$0.88	$0.97	$1.00	$1.20	$1.12	$1.26	$1.32	$1.35	$1.66
Adjusted Weighted Average Diluted Shares Outstanding	138.91M	139.89M	140.06M	140.31M	140.20M	140.48M	140.60M	140.95M	140.77M	141.03M	141.07M
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	138.25M	138.36M	138.50M	138.60M	138.83M	138.95M	139.10M	139.21M	139.36M	139.52M	139.66M
Normalized Net Operating Profit after Tax (NOPAT)	146	159	165	177	179	211	196	215	229	230	276
Normalized NOPAT Margin	15.62%	17.73%	17.26%	17.88%	17.70%	20.47%	17.85%	18.74%	18.91%	-	20.08%
Pre Tax Income Margin	15.70%	15.87%	17.91%	18.17%	18.14%	18.95%	19.67%	20.48%	20.46%	-	23.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.39	4.69	5.44	5.90	6.19	7.02	7.57	8.41	8.53	-	10.30
NOPAT to Interest Expense	3.37	4.12	4.28	4.82	5.07	6.50	5.96	6.78	6.96	-	8.09
EBIT Less CapEx to Interest Expense	4.04	4.34	5.11	5.47	5.74	6.48	7.08	8.01	7.71	-	9.77
NOPAT Less CapEx to Interest Expense	3.02	3.77	3.95	4.39	4.61	5.96	5.48	6.38	6.14	-	7.56
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.01%	13.78%	11.77%	15.88%	16.09%	15.10%	14.54%	10.96%	10.22%	-	9.98%
Augmented Payout Ratio	18.35%	13.81%	12.82%	17.33%	21.44%	20.05%	18.99%	14.86%	13.23%	-	13.02%

Financials Breakdown Chart

Key Financial Trends

Heico’s latest quarter shows solid operating momentum, but growth was driven heavily by acquisitions and balance sheet leverage increased. In Q1 2026, revenue rose to $1.18 billion from $1.10 billion a year ago, while net income edged up to $204.8 million. Operating cash flow remained strong at $178.6 million, but the company also spent aggressively on acquisitions, which kept investing cash flow deeply negative.

Revenue increased year over year in Q1 2026 to $1.18 billion, up from $1.03 billion in Q1 2025 and $896 million in Q1 2024, showing a strong multi-year growth trend.
Gross profit improved to $455.0 million in Q1 2026, while operating income reached $259.9 million, both reflecting continued profitability expansion.
Operating cash flow was strong at $178.6 million in Q1 2026, which supports ongoing growth and capital needs.
Over the last several quarters, Heico has consistently generated positive operating cash flow, generally ranging from roughly $111 million to nearly $295 million per quarter.
Book equity continues to grow, with total common equity rising to $4.50 billion in Q1 2026 from $3.75 billion in Q1 2025 and $2.70 billion in Q1 2024.
Earnings per share were stable in the latest quarter at $1.35 diluted, only slightly below the $1.36 reported in Q4 2025.
The company continued returning cash to shareholders through dividends and share repurchases, though buybacks were modest relative to cash generation.
The latest quarter included a very large acquisition outlay of $441.4 million, indicating growth is still being fueled by M&A rather than only organic expansion.
Total debt increased sharply in Q1 2026, with long-term debt rising to $2.50 billion from $2.44 billion in Q3 2025 and far above the $781 million level seen in Q1 2023.
Investing cash flow was heavily negative at $447.0 million in Q1 2026, driven by acquisitions and capital spending, which reduces near-term free cash flow flexibility.

Overall: Heico looks like a high-quality compounder with steady revenue growth, strong margins, and reliable cash generation. The main watch item is leverage, since the company has been funding acquisitions with a meaningful amount of debt. For investors, that means the core business looks healthy, but acquisition execution and balance sheet discipline remain important.

06/19/26 07:48 AM ETAI Generated. May Contain Errors.

Heico Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Heico's financial year ends in October. Their financial year 2025 ended on October 31, 2025.

Heico's net income appears to be on an upward trend, with a most recent value of $745.55 million in 2025, rising from $153.56 million in 2015. The previous period was $559.09 million in 2024. View Heico's forecast to see where analysts expect Heico to go next.

Heico's total operating income in 2025 was $1.02 billion, based on the following breakdown:

Total Gross Profit: $1.79 billion
Total Operating Expenses: $767.47 million

Over the last 10 years, Heico's total revenue changed from $1.19 billion in 2015 to $4.49 billion in 2025, a change of 277.3%.

Heico's total liabilities were at $3.65 billion at the end of 2025, a 3.5% increase from 2024, and a 386.0% increase since 2015.

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 $217.78 million as of their latest financial filing in 2025.

Over the last 10 years, Heico's book value per share changed from 12.11 in 2015 to 30.93 in 2025, a change of 155.4%.

Related Companies

Financial statements for NYSE:HEI last updated on 6/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Heico (HEI) Financials

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Heico (HEI) Financials

Annual Income Statements for Heico

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