Heico Corporation (HEI.A) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 25	$1.02	$1.12	+9.8%	—	$1.1B	—
Q1 25	$0.96	$1.2	+25.0%	—	$1B	—
Q4 24	$0.99	$0.99	0.0%	—	$1B	—
Q3 24	$0.93	$0.97	+4.3%	—	$992.2M	—
Q2 24	$0.81	$0.88	+8.6%	—	$955.4M	—
Q1 24	$0.75	$0.82	+9.3%	—	$896.4M	—
Q4 23	$0.69	$0.74	+7.2%	—	$936.4M	—
Q3 23	$0.73	$0.77	+5.5%	—	$722.9M	—
Q2 23	$0.71	$0.76	+7.0%	—	$687.8M	—
Q1 23	$0.69	$0.67	-2.9%	—	$620.9M	—
Q4 22	$0.67	$0.7	+4.5%	—	$609.6M	—
Q3 22	$0.62	$0.6	-3.2%	—	$569.5M	—
Q2 22	$0.55	$0.62	+12.7%	—	$538.8M	—
Q1 22	—	$0.63	—	—	$490.3M	—
Q4 21	$0.55	$0.62	+12.7%	—	$509.4M	—
Q3 21	$0.52	$0.56	+7.7%	—	$471.7M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$4.97	—	—	$4.5B	—
FY24	—	$3.71	—	—	$3.9B	—
FY23	—	$2.94	—	—	$3B	—
FY22	—	$2.59	—	—	$2.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.4B	$1.5B	$1.8B	$2.1B	$1.8B	$1.9B	$2.2B	$3B	$3.9B	$4.5B
YoY change	+15.8%	+10.8%	+16.6%	+15.6%	-13.1%	+4.4%	+18.4%	+34.4%	+30%	+16.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.4B	1.5B	1.8B	2.1B	1.8B	1.9B	2.2B	3B	3.9B	4.5B
Cost of revenue	860.8M	950.1M	1.1B	1.2B	1.1B	1.1B	1.3B	1.8B	2.4B	2.7B
Gross profit	515.5M	574.7M	690.7M	813.8M	682.1M	727.4M	862.8M	1.2B	1.5B	1.8B
Gross margin	37.5%	37.7%	38.9%	39.6%	38.2%	39%	39.1%	38.9%	38.9%	39.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	250.1M	268.1M	314.5M	356.7M	305.5M	334.5M	365.9M	528.1M	677.3M	767.5M
Operating expenses	250.1M	268.1M	314.5M	356.7M	305.5M	334.5M	365.9M	528.1M	677.3M	767.5M
Operating income	265.3M	306.7M	376.2M	457.1M	376.6M	392.9M	496.8M	625.3M	824.5M	1B
Operating margin	19.3%	20.1%	21.2%	22.2%	21.1%	21.1%	22.5%	21.1%	21.4%	22.7%
Non-operating income, net	-23K	1.1M	-58K	2.4M	1.4M	1.4M	565K	2.9M	2.4M	4.4M
Pretax income	257.1M	298M	356.3M	437.8M	364.9M	387.1M	491M	555.3M	677.6M	893.6M
Income tax	80.9M	90.3M	70.6M	78.1M	29M	57.3M	100.4M	110.9M	118.5M	148M
Net income	176.2M	207.7M	285.7M	359.7M	335.9M	329.8M	390.6M	444.4M	559.1M	745.6M
Net margin	12.8%	13.6%	16.1%	17.5%	18.8%	17.7%	17.7%	15%	14.5%	16.6%
EBITDA	325.6M	372.6M	453.4M	543M	466.6M	487.4M	593.7M	758.3M	1B	1.2B
EPS	1.19	1.41	1.96	2.45	2.33	2.25	2.59	2.94	3.71	4.97
Diluted EPS	1.17	1.37	1.9	2.39	2.29	2.21	2.55	2.91	3.67	4.9

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	936.4M	896.4M	955.4M	992.2M	1B	1B	1.1B	1.1B	1.2B	1.2B	1.4B	1.4B
Cost of revenue	572M	549.6M	583.6M	603M	619.8M	624.6M	660M	690.4M	723.6M	723.6M	806.2M	832.1M
Gross profit	364.4M	346.8M	371.8M	389.3M	393.9M	405.7M	437.8M	457.2M	485.8M	455M	569.5M	581M
Gross margin	38.9%	38.7%	38.9%	39.2%	38.9%	39.4%	39.9%	39.8%	40.2%	38.6%	41.4%	41.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	175M	166.6M	162.6M	172.8M	175.2M	178.9M	189.7M	192.1M	206.8M	195.1M	219.1M	225.8M
Operating expenses	175M	166.6M	162.6M	172.8M	175.2M	178.9M	189.7M	192.1M	206.8M	195.1M	219.1M	225.8M
Operating income	189.4M	180.2M	209.2M	216.4M	218.6M	226.8M	248.2M	265M	279M	259.9M	350.4M	355.2M
Operating margin	20.2%	20.1%	21.9%	21.8%	21.6%	22%	22.6%	23.1%	23.1%	22.1%	25.5%	25.1%
Non-operating income, net	1M	679K	460K	659K	646K	919K	636K	1.7M	1.2M	1M	1.3M	1.3M
Pretax income	147.1M	142.3M	171.1M	180.3M	183.9M	195.3M	215.9M	235M	247.4M	231.5M	317.5M	320.6M
Income tax	33.5M	16.8M	36.2M	32.5M	33M	13.7M	45.4M	44.3M	44.6M	26.7M	67.2M	66.1M
Net income	113.6M	125.5M	134.9M	147.8M	150.9M	181.6M	170.5M	190.7M	202.8M	204.8M	250.3M	254.5M
Net margin	12.1%	14%	14.1%	14.9%	14.9%	17.6%	15.5%	16.6%	16.8%	17.4%	18.2%	18%
EBITDA	234.2M	224.4M	252.4M	261.4M	264M	273.9M	297.7M	316.4M	331.4M	312M	408.3M	415.2M
EPS	0.75	0.83	0.89	0.99	1.01	1.21	1.13	1.27	1.35	1.36	1.68	1.69
Diluted EPS	0.74	0.82	0.88	0.97	0.99	1.2	1.12	1.26	1.33	1.35	1.66	1.67

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4B	6.4B	8.8B	12.7B	12.6B	17B	17.3B	17.4B	26.6B	34.4B	32.2B
Enterprise value	4.4B	7B	9.3B	13.2B	12.9B	17.1B	17.5B	19.8B	28.7B	36.4B	35.4B
Shares outstanding	130.9M	131.7M	132.5M	133.6M	134.8M	135.3M	136M	137.2M	138.5M	139M	139M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.8	30.9	30.9	35.4	37.5	51.6	44.3	39.2	47.6	46.2	38.6
P/S	2.92	4.21	4.97	6.19	7.05	9.12	7.84	5.88	6.89	7.68	6.26
P/B	3.51	4.65	5.4	6.76	5.65	6.67	5.82	5.46	7.19	7.87	6.55
EV/EBITDA	13.6	18.9	20.5	24.4	27.7	35.2	29.4	26.1	28.6	29.9	24
EV/Sales	3.22	4.61	5.24	6.44	7.24	9.19	7.92	6.66	7.43	8.12	6.84
Earnings yield	4.38%	3.24%	3.23%	2.83%	2.67%	1.94%	2.26%	2.55%	2.1%	2.16%	2.59%
FCF yield	5.69%	4.09%	3.24%	3.21%	3.07%	2.4%	2.52%	2.29%	2.31%	2.5%	2.62%
PEG	—	—	—	—	—	—	—	—	—	—	1.17

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	37.5%	37.7%	38.9%	39.6%	38.2%	39%	39.1%	38.9%	38.9%	39.8%	41.1%
Operating margin	19.3%	20.1%	21.2%	22.2%	21.1%	21.1%	22.5%	21.1%	21.4%	22.7%	25.1%
Net margin	12.8%	13.6%	16.1%	17.5%	18.8%	17.7%	17.7%	15%	14.5%	16.6%	16.4%
ROE	15.4%	15.1%	17.5%	19.1%	15%	12.9%	13.1%	13.9%	15.1%	17%	17.7%
ROA	8.81%	8.27%	10.8%	12.1%	9.47%	9.43%	9.54%	6.18%	7.36%	8.77%	8.5%
ROIC	11.6%	10.7%	14.3%	15.7%	13.4%	12.4%	12.6%	9.06%	11.8%	13.4%	13.9%
Return on tangible assets	-37.7%	-28.6%	-48.5%	-53.7%	-89.2%	-58.2%	-54.6%	-21.5%	-30.4%	-42.2%	-39.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.53	2.53	2.6	2.81	4.83	3.18	2.74	2.79	3.11	2.83	2.72
Quick ratio	1.2	1.16	1.18	1.36	2.91	1.56	1.35	1.27	1.34	1.28	1.27
Debt / equity	0.4	0.49	0.33	0.3	0.34	0.1	0.1	0.78	0.61	0.5	0.45
Debt / assets	0.23	0.27	0.2	0.19	0.21	0.07	0.07	0.35	0.3	0.26	0.26
Net debt / EBITDA	1.28	1.67	1.04	0.93	0.74	0.29	0.28	3.07	2.09	1.62	1.57
Interest coverage	32.1	31.4	18.9	21.2	28.7	54.1	77.9	8.61	5.54	7.88	9.44
Effective tax rate	31.5%	30.3%	19.8%	17.8%	7.95%	14.8%	20.4%	20%	17.5%	16.6%	18.3%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	10.5	11.6	13.4	15.4	13.3	13.8	16.2	21.6	27.9	32.3	37.1
EPS (basic)	1.19	1.41	1.96	2.45	2.33	2.25	2.59	2.94	3.71	4.97	4.97
EPS (diluted)	1.17	1.37	1.9	2.39	2.29	2.21	2.55	2.91	3.67	4.9	6.01
Book value per share	8.76	10.5	12.3	14.1	16.6	18.8	21.9	23.3	26.7	31.5	35.4
FCF per share	1.75	1.99	2.16	3.06	2.87	3.01	3.2	2.91	4.44	6.19	7.29
Cash per share	0.33	0.4	0.45	0.43	3.02	0.8	1.03	1.25	1.17	1.57	1.72
Capex per share	—	—	—	—	—	—	—	—	—	0.52	0.57

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	1.63%	1.56%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	7.8%	7.28%
Payout ratio	6.09%	6.17%	5.38%	5.2%	6.42%	6.98%	6.26%	6.16%	5.2%	4.29%	4.17%
Dividend yield	0.27%	0.2%	0.17%	0.15%	0.17%	0.14%	0.14%	0.16%	0.11%	0.09%	0.11%

Yield

0.11%

trailing twelve months

Frequency

Semi-annual

Last dividend

$0.13

ex-dividend Jul 1, 2026

Payout ratio

of earnings

Dividend growth

8 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 1, 2026	$0.13
Jan 5, 2026	$0.12
Jul 1, 2025	$0.12
Jan 3, 2025	$0.11
Jul 1, 2024	$0.11
Jan 3, 2024	$0.10
Jun 30, 2023	$0.10

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$936.4M	$896.4M	$955.4M	$992.2M	$1B	$1B	$1.1B	$1.1B	$1.2B	$1.2B	$1.4B	$1.4B
YoY change	+53.6%	+44.4%	+38.9%	+37.3%	+8.25%	+14.9%	+14.9%	+15.7%	+19.3%	+14.4%	+25.3%	+23.1%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	43M	52.1M	59.6M	57M	406.9M	108.3M	139.5M	171M	162.1M	217.8M
Receivables	202.2M	222.5M	237.3M	274.3M	210.4M	244.9M	294.8M	509.1M	538.5M	637.6M
Inventory	286.3M	343.6M	401.6M	420.3M	463.2M	478.1M	582.5M	1B	1.2B	1.3B
Total current assets	543.2M	631.9M	733.8M	813.7M	1.2B	937.4M	1.2B	1.9B	2.1B	2.4B
Property, plant & equipment	42.4M	38M	53.3M	56.3M	48.1M	59.5M	77.3M	119.3M	121.5M	175.9M
Goodwill & intangibles	2.5B	3.2B	3.2B	3.6B	3.9B	4.1B	4.8B	9.3B	9.4B	10.3B
Total assets	2B	2.5B	2.7B	3B	3.5B	3.5B	4.1B	7.2B	7.6B	8.5B
Accounts payable	73.3M	89.7M	107.2M	106.2M	76.2M	85.5M	116.6M	205.9M	198.4M	231M
Short-term debt	411K	451K	859K	906K	15.2M	15.4M	16.3M	38.3M	27.5M	29.1M
Total current liabilities	214.4M	249.4M	282.4M	289.1M	241.2M	294.9M	420.9M	665.3M	663.9M	832M
Long-term debt	457.8M	673.5M	531.6M	561M	738.8M	235M	288.6M	2.5B	2.2B	2.2B
Total liabilities	851.2M	1.1B	1B	1.1B	1.3B	948.9M	1.1B	4B	3.9B	4.1B
Shareholders' equity	1.1B	1.4B	1.6B	1.9B	2.2B	2.5B	3B	3.2B	3.7B	4.4B
Total debt	458.2M	674M	532.5M	562M	754M	250.4M	304.9M	2.5B	2.3B	2.2B
Net debt	415.3M	621.9M	472.9M	505M	347.2M	142.1M	165.4M	2.3B	2.1B	2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	171M	196.3M	204.2M	202.9M	162.1M	165.5M	242.3M	261.9M	217.8M	261M	210.3M	241M
Receivables	509.1M	471.7M	504.4M	525.8M	538.5M	523.3M	591.4M	597.6M	637.6M	652M	735M	736.3M
Inventory	1B	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.3B	1.3B	1.3B	1.4B	1.4B
Total current assets	1.9B	1.9B	2B	2B	2.1B	2.1B	2.3B	2.4B	2.4B	2.5B	2.6B	2.7B
Property, plant & equipment	119.3M	121.5M	119.5M	118.8M	121.5M	126.6M	131.2M	177.9M	175.9M	193.3M	204.5M	208.9M
Goodwill & intangibles	9.3B	9.3B	9.2B	9.2B	9.4B	9.9B	9.9B	10.3B	10.3B	11.1B	11.8B	12.3B
Total assets	7.2B	7.3B	7.4B	7.4B	7.6B	7.9B	8.1B	8.5B	8.5B	9B	9.6B	9.9B
Accounts payable	205.9M	194.9M	194.9M	207.5M	198.4M	208.1M	230.4M	230.6M	231M	241M	293.7M	297.1M
Short-term debt	38.3M	4.7M	4.4M	4.2M	27.5M	4M	3.8M	3.7M	29.1M	3.4M	3.4M	3.5M
Total current liabilities	665.3M	604.1M	559.2M	614.7M	663.9M	618.3M	664.9M	711.3M	832M	810.6M	903.6M	1B
Long-term debt	2.5B	2.5B	2.4B	2.3B	2.2B	2.3B	2.3B	2.4B	2.2B	2.5B	2.6B	2.5B
Total liabilities	4B	3.7B	3.6B	3.5B	3.9B	3.7B	3.6B	3.9B	4.1B	4B	4.2B	4.9B
Shareholders' equity	3.2B	3.7B	3.8B	3.9B	3.7B	4.2B	4.5B	4.7B	4.4B	5B	5.4B	5B
Total debt	2.5B	2.5B	2.4B	2.3B	2.3B	2.4B	2.3B	2.4B	2.2B	2.5B	2.6B	2.5B
Net debt	2.3B	2.3B	2.2B	2.1B	2.1B	2.2B	2B	2.2B	2B	2.2B	2.4B	2.3B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	176.2M	207.7M	285.7M	359.7M	335.9M	329.8M	390.6M	444.4M	559.1M	745.6M
Depreciation & amortization	60.3M	64.8M	77.2M	83.5M	88.6M	93M	96.3M	130M	175.3M	196.1M
Stock-based compensation	6.4M	7.4M	9.3M	10.3M	10.1M	9.1M	12.6M	15.5M	18.8M	34.4M
Change in working capital	-17.8M	869K	-49M	-38.4M	11.3M	-17.4M	-81.6M	-177.5M	-140.7M	-75.8M
Operating cash flow	218.3M	272.5M	310.5M	408.8M	444.6M	402.3M	420M	359.8M	628M	934.3M
Capital expenditure	—	—	—	—	—	—	—	—	—	-72.9M
Investing cash flow	-277.3M	-432.2M	-71.6M	-251.7M	-176.1M	-133.3M	-348.5M	-2.4B	-215M	-698.7M
Dividends paid	-10.7M	-12.8M	-15.4M	-18.7M	-21.6M	-23M	-24.5M	-27.4M	-29.1M	-32M
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	50.9M	170.4M	-186.6M	-74.3M	319.9M	-1.1B	-10.2M	2.1B	-381.4M	-141.5M
Net change in cash	-8.1M	10.7M	52.3M	82.8M	588.4M	-796.5M	61.2M	15.2M	31.6M	94M
Free cash flow	228.8M	262.3M	286.6M	408.4M	386.2M	407.9M	435.9M	399.3M	614.1M	861.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	113.6M	125.5M	134.9M	147.8M	150.9M	181.6M	170.5M	190.7M	202.8M	204.8M	250.3M	254.5M
Depreciation & amortization	43.7M	43.5M	42.8M	44.3M	44.7M	46.2M	48.9M	49.8M	51.2M	51M	56.6M	58.7M
Stock-based compensation	5.1M	4.9M	4.6M	4.6M	4.7M	4.7M	6M	7.7M	16M	11.3M	11.2M	11.9M
Change in working capital	-77.4M	-5.1M	-53.5M	-31.3M	-52.7M	1.3M	-54.4M	-11.5M	-11.2M	-4.4M	-43.8M	-33.7M
Operating cash flow	78.6M	159.9M	158.3M	154.4M	155.4M	245.5M	177.8M	231.2M	295.3M	178.6M	292M	345.3M
Capital expenditure	—	—	—	—	—	—	—	-12.7M	-26.8M	-13.5M	-18.1M	-22.6M
Investing cash flow	-1.9B	-45.1M	501K	-8.9M	-161.6M	-256.1M	-32.7M	-353.9M	-22.7M	-433M	-401.2M	-219.3M
Dividends paid	0	-13.8M	0	-15.2M	0	-15.3M	0	-16.7M	0	-16.7M	0	-18.2M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	1.2B	-32.3M	-104.7M	-188.6M	-41.8M	89.2M	-84.3M	140.7M	-287.1M	311.2M	61.6M	-93.2M
Net change in cash	-571.8M	82.5M	54.1M	-43.1M	-48M	78.7M	60.8M	17.9M	-14.5M	56.8M	-47.6M	32.8M
Free cash flow	133.1M	98.3M	128.2M	198.1M	189.5M	185.7M	188.7M	218.5M	268.5M	165.1M	273.9M	322.8M

Date	Ratio
Jun 28, 2018	125:100
Jun 20, 2018	5:4
Jan 18, 2018	125:100
Jan 2, 2018	5:4
Apr 19, 2017	5:4
Apr 5, 2017	125:100
Oct 23, 2013	5:4
Apr 25, 2012	5:4
Apr 26, 2011	5:4
Apr 27, 2010	5:4
Jan 2, 2004	11:10
Aug 8, 2001	11:10
Jul 6, 2000	11:10

Heico Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history