HEICO CORP

For the period ended Oct 31, 2025. Filed Dec 22, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Dec 22, 2025

HEI$345.09+0.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets as of October 31, 202 and

Index

CONSOLIDATED BALANCE SHEETS

	As of October 31,
	2025	2024
ASSETS
Current assets:
Cash and cash equivalents	$217,781	$162,103
Accounts receivable, net	637,615	538,487
Contract assets	119,257	112,235
Inventories, net	1,295,336	1,170,949
Prepaid expenses and other current assets	86,377	78,518
Total current assets	2,356,366	2,062,292
Property, plant and equipment, net	431,710	339,034
Goodwill	3,661,624	3,380,295
Intangible assets, net	1,471,440	1,334,774
Other assets	579,294	476,427
Total assets	$8,500,434	$7,592,822
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$3,358	$4,107
Trade accounts payable	231,040	198,429
Accrued expenses and other current liabilities	577,624	427,781
Income taxes payable	19,982	33,534
Total current liabilities	832,004	663,851
Long-term debt, net of current maturities	2,164,587	2,225,267
Deferred income taxes	107,186	114,156
Other long-term liabilities	550,124	525,986
Total liabilities	3,653,901	3,529,260
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests (Note 13)	467,358	366,156
Shareholders’ equity:
Preferred Stock, $.01 par value per share; 10,000 shares authorized; none issued	—	—
Common Stock, $.01 par value per share; 150,000 shares authorized; 55,143 and 54,986 shares issued and outstanding	551	550
Class A Common Stock, $.01 par value per share; 150,000 shares authorized; 84,198 and 83,827 shares issued and outstanding	842	838
Capital in excess of par value	650,667	599,399
Deferred compensation obligation	8,096	7,272
HEICO stock held by irrevocable trust	(8,096)	(7,272)
Accumulated other comprehensive income (loss)	5,581	(26,076)
Retained earnings	3,647,678	3,062,166
Total HEICO shareholders’ equity	4,305,319	3,636,877
Noncontrolling interests	73,856	60,529
Total shareholders’ equity	4,379,175	3,697,406
Total liabilities and equity	$8,500,434	$7,592,822

Index

CONSOLIDATED STATEMENTS OF OPERATIONS

	Year ended October 31,
	2025	2024	2023
Net sales	$4,485,044	$3,857,669	$2,968,105
Operating costs and expenses:
Cost of sales	2,698,580	2,355,943	1,814,617
Selling, general and administrative expenses	767,466	677,271	528,149
Total operating costs and expenses	3,466,046	3,033,214	2,342,766
Operating income	1,018,998	824,455	625,339
Interest expense	(129,877)	(149,313)	(72,984)
Other income	4,433	2,444	2,928
Income before income taxes and noncontrolling interests	893,554	677,586	555,283
Income tax expense	148,000	118,500	110,900
Net income from consolidated operations	745,554	559,086	444,383
Less: Net income attributable to noncontrolling interests	55,169	44,977	40,787
Net income attributable to HEICO	$690,385	$514,109	$403,596
Net income per share attributable to HEICO shareholders:
Basic	$4.97	$3.71	$2.94
Diluted	$4.90	$3.67	$2.91
Weighted average number of common shares outstanding:
Basic	139,048	138,455	137,185
Diluted	140,771	140,198	138,905

Index

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

	Year ended October 31,
	2025	2024	2023
Net income from consolidated operations	$745,554	$559,086	$444,383
Other comprehensive income:
Foreign currency translation adjustments	32,063	13,983	6,905
Unrealized (loss) gain on defined benefit pension plan, net of tax	(200)	554	59
Amortization of unrealized loss on defined benefit pension plan, net of tax	3	52	56
Total other comprehensive income	31,866	14,589	7,020
Comprehensive income from consolidated operations	777,420	573,675	451,403
Net income attributable to noncontrolling interests	55,169	44,977	40,787
Foreign currency translation adjustments attributable to noncontrolling interests	209	485	701
Comprehensive income attributable to noncontrolling interests	55,378	45,462	41,488
Comprehensive income attributable to HEICO	$722,042	$528,213	$409,915

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.