HEICO CORPORATION(HEI) 2025 Financial Results Summary

2025-12-19 · Stocks · QuoteReporter

HEICO CORPORATION (HEI.A) Q4 2025 Financial Results Summary

HEICO Corporation (NYSE: HEI.A and HEI) released its fourth-quarter financial results on December 18, 2025. Below is a summary of the key metrics and results for the quarter ending October 31, 2025, compared to the same quarter a year ago.

Financial Highlights

Net Income:
Increased by 35% to $188.3 million ($1.33 per diluted share) from $139.7 million ($0.99 per diluted share) in Q4 2024.
Operating Income:
Increased by 28% to $279.0 million from $218.6 million in Q4 2024.
Net Sales:
Increased by 19% to $1,209.4 million from $1,013.7 million in Q4 2024.
Operating Margin:
Improved to 23.1% from 21.6% in Q4 2024.

Annual Performance Metrics

Net Income for Fiscal Year:
Increased by 34% to $690.4 million ($4.90 per diluted share) from $514.1 million ($3.67 per diluted share) for FY 2024.
Operating Income for Fiscal Year:
Increased by 24% to $1,019.0 million from $824.5 million for FY 2024.
Net Sales for Fiscal Year:
Increased by 16% to $4,485.0 million from $3,857.7 million for FY 2024.
Operating Margin (Annual):
Improved to 22.7% from 21.4% for FY 2024.

Additional Financial Metrics

EBITDA:
Increased by 26% to $331.4 million in Q4 2025 from $264.0 million in Q4 2024.
Increased by 22% to $1,219.5 million for FY 2025 from $1,002.2 million for FY 2024.
Cash Flow:
Operating cash flow increased by 44% to $295.3 million in Q4 2025 from $205.6 million in Q4 2024.
Operating cash flow for FY 2025 increased by 39% to $934.3 million from $672.4 million for FY 2024.
Debt Ratios:
Total debt to net income attributable to HEICO ratio improved to 3.14x from 4.34x a year ago.
Net debt to EBITDA ratio improved to 1.60x from 2.06x a year ago.

Segment Performance

Flight Support Group:
– Q4 Net Sales: Increased by 21% to $834.4 million from $691.8 million in Q4 2024.
– Q4 Operating Income: Increased by 30% to $201.0 million from $154.5 million in Q4 2024.
– Year-end Net Sales: Increased by 18% to $3,117.3 million from $2,639.4 million for FY 2024.

Electronic Technologies Group:
– Q4 Net Sales: Increased by 14% to $384.8 million from $336.2 million in Q4 2024.
– Q4 Operating Income: Increased by 10% to $89.6 million from $81.8 million in Q4 2024.
– Year-end Net Sales: Increased by 12% to $1,413.1 million from $1,263.6 million for FY 2024.

Dividends and Share Repurchase

HEICO’s Board of Directors declared a semiannual cash dividend of $0.12 per share, payable in January 2026. This represents HEICO’s 95th consecutive semiannual cash dividend since 1979.

Outlook

For FY 2026, HEICO anticipates continued net sales growth across both operating segments due to increased product demand and recent acquisitions. The company plans to pursue selective acquisition opportunities while maintaining a strong focus on financial discipline and shareholder value creation.

Conclusion

HEICO Corporation’s fourth-quarter results reflect a combination of robust organic growth, operational efficiencies, and successful integration of acquisitions, leading to record performances across key financial metrics. The declared dividend indicates the company’s commitment to returning value to shareholders while pursuing growth strategies.

Here are the extracted tables in HTML format:

Condensed Consolidated Statements of Operations

(Unaudited)
(in thousands, except per share data)

	Three Months Ended October 31,	2025	2024
Net sales	$1,209,411	$1,013,665
Cost of sales	723,570	619,773
Selling, general and administrative expenses	206,819	175,246
Operating income	279,022	218,646
Interest expense	-32,853	-35,406
Other income	1,216	646
Income before income taxes and noncontrolling interests	247,385	183,886
Income tax expense	44,600	33,000
Net income from consolidated operations	202,785	150,886
Less: Net income attributable to noncontrolling interests	14,489	11,198
Net income attributable to HEICO	$188,296	$139,688
Net income per share attributable to HEICO shareholders:	Basic	$1.35	$1.01
	Diluted	$1.33	$.99
Weighted average number of common shares outstanding:	Basic	139,215	138,655
	Diluted	141,050	140,536
Operating segment and corporate and other information:
Net sales:	Flight Support Group	$834,372	$691,780
	Electronic Technologies Group	384,775	336,233
	Intersegment sales	-9,736	-14,348
	Total	$1,209,411	$1,013,665
Operating income:	Flight Support Group	$200,973	$154,513
	Electronic Technologies Group	89,618	81,814
	Other, primarily corporate	-11,569	-17,681
	Total	$279,022	$218,646
Depreciation and amortization:	Flight Support Group	$27,838	$25,255
	Electronic Technologies Group	22,495	18,715
	Corporate	874	715
	Total	$51,207	$44,685

Condensed Consolidated Balance Sheets

(Unaudited)
(in thousands)

	As of October 31,	2025
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
Current maturities of long-term debt	$3,358	$4,107
Other current liabilities	828,646	659,744
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
Redeemable noncontrolling interests	467,358	366,156
Shareholders’ equity	4,379,175	3,697,406
Total liabilities and equity	$8,500,434	$7,592,822