HEI financial statements

The full income statement, balance sheet, and cash-flow statement for Heico Corporation (HEI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-04 138.5M2024-07 138.6M2024-10 138.8M2025-01 138.9M2025-04 139.1M2025-07 139.2M2025-10 139.4M2026-01 139.5M2026-04 139.7M+0.8% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
Revenue	4.49B YoY+16.3%	3.86B YoY+30.0%	2.97B YoY+34.4%	2.21B YoY+18.4%	1.87B YoY+4.4%
Cost of revenue	2.70B YoY+14.5%	2.36B YoY+29.8%	1.81B YoY+34.9%	1.35B YoY+18.2%	1.14B YoY+3.0%
Research & development	121M YoY+8.7%	111M YoY+16.2%	95.8M YoY+25.9%	76.1M YoY+10.4%	68.9M YoY+5.1%
Selling, general & administrative	767M YoY+13.3%	677M YoY+28.2%	528M YoY+44.3%	366M YoY+9.4%	335M YoY+9.5%
Amortization of intangibles	138M YoY+12.8%	122M YoY+42.4%	85.9M YoY+37.4%	62.5M YoY+2.0%	61.3M YoY+6.8%
Operating income	1.02B YoY+23.6%	824M YoY+31.8%	625M YoY+25.9%	497M YoY+26.5%	393M YoY+4.3%
Interest expense	130M YoY-13.0%	149M YoY+3829.3%	3.80M YoY-40.5%	6.39M YoY-12.3%	7.29M YoY-44.6%
Other non-operating income	4.43M YoY+81.4%	2.44M YoY-16.5%	2.93M YoY+418.2%	565K YoY-60.8%	1.44M YoY+5.6%
Pre-tax income	894M YoY+31.9%	678M YoY+22.0%	555M YoY+13.1%	491M YoY+26.9%	387M YoY+6.1%
Income tax	148M YoY+24.9%	119M YoY+6.9%	111M YoY+10.5%	100M YoY+75.2%	57.3M YoY+97.6%
	690M YoY+34.3%	514M YoY+27.4%	404M YoY+14.8%	352M YoY+15.6%	304M YoY-3.1%
Net income to non-controlling interest	55.2M YoY+22.7%	45.0M YoY+10.3%	40.8M YoY+4.7%	38.9M YoY+52.5%	25.5M YoY+16.8%
	$4.90 YoY+33.5%	$3.67 YoY+26.1%	$2.91 YoY+14.1%	$2.55 YoY+15.4%	$2.21 YoY-3.5%
EPS (basic)	$4.97 YoY+34.0%	$3.71 YoY+26.2%	$2.94 YoY+13.5%	$2.59 YoY+15.1%	$2.25 YoY-3.4%
	139M YoY+0.4%	138M YoY+0.9%	137M YoY+0.9%	136M YoY+0.5%	135M YoY+0.4%
	141M YoY+0.4%	140M YoY+0.9%	139M YoY+0.6%	138M YoY+0.1%	138M YoY+0.4%
Dividends per share	$0.23 YoY+9.5%	$0.21 YoY+5.0%	$0.20 YoY+11.1%	$0.18 YoY+5.9%	$0.17 YoY+6.3%
Balance Sheet	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
	2.36B YoY+14.3%	2.06B YoY+11.2%	1.86B YoY+61.0%	1.15B YoY+23.0%	937M YoY-19.6%
Cash & equivalents	218M YoY+34.3%	162M YoY-5.2%	171M YoY+22.6%	140M YoY+28.8%	108M YoY-73.4%
Accounts receivable	638M YoY+18.4%	538M YoY+5.8%	509M YoY+72.7%	295M YoY+20.4%	245M YoY+16.4%
Inventory	1.30B YoY+10.6%	1.17B YoY+15.5%	1.01B YoY+74.0%	582M YoY+21.8%	478M YoY+3.2%
Prepaid expenses	86.4M YoY+10.0%	78.5M YoY+57.5%	49.8M YoY+18.9%	41.9M YoY+61.0%	26.0M YoY+5.4%
	8.50B YoY+12.0%	7.59B YoY+5.5%	7.20B YoY+75.7%	4.10B YoY+17.1%	3.50B YoY-1.4%
Property, plant & equipment	432M YoY+27.3%	339M YoY+5.3%	322M YoY+42.5%	226M YoY+16.7%	194M YoY+14.7%
Operating lease right-of-use	135M YoY+2.4%	132M YoY+8.6%	121M YoY+35.2%	89.8M YoY+20.3%	74.6M YoY+30.7%
Goodwill	3.66B YoY+8.3%	3.38B YoY+3.2%	3.27B YoY+95.8%	1.67B YoY+15.3%	1.45B YoY+4.9%
Intangible assets	1.47B YoY+10.2%	1.33B YoY-1.7%	1.36B YoY+85.1%	733M YoY+25.9%	582M YoY+0.6%
Other non-current assets	579M YoY+21.6%	476M YoY+23.3%	386M YoY+24.1%	311M YoY-7.0%	335M YoY+33.3%
	832M YoY+25.3%	664M YoY-0.2%	665M YoY+58.1%	421M YoY+42.7%	295M YoY+22.3%
Accounts payable	231M YoY+16.4%	198M YoY-3.6%	206M YoY+76.7%	117M YoY+36.2%	85.5M YoY+12.2%
Accrued liabilities	578M YoY+35.0%	428M YoY-1.2%	433M YoY+49.2%	290M YoY+40.3%	207M YoY+27.5%
Deferred revenue	79.5M YoY-5.2%	83.9M YoY-4.2%	87.6M YoY+49.0%	58.8M YoY+79.5%	32.7M YoY+27.7%
Short-term & current debt	3.36M YoY-18.2%	4.11M YoY-3.8%	4.27M YoY+158.1%	1.65M YoY+9.2%	1.51M YoY+45.0%
Current lease liability	25.7M YoY+9.9%	23.4M YoY+14.2%	20.5M YoY+39.9%	14.7M YoY+5.6%	13.9M YoY-2.2%
Other current liabilities	—	—	—	—	25.8M YoY+9.6%
Finance lease liability (current)	3.30M YoY-18.8%	4.06M YoY-4.6%	4.25M YoY+162.6%	1.62M YoY+9.4%	1.48M YoY+43.2%
	3.65B YoY+3.5%	3.53B YoY-3.0%	3.64B YoY+224.9%	1.12B YoY+18.0%	949M YoY-27.9%
Long-term debt	2.16B YoY-2.7%	2.23B YoY-9.6%	2.46B YoY+752.4%	289M YoY+22.8%	235M YoY-68.2%
Deferred revenue (non-current)	84.7M YoY+37.0%	61.8M	0.00	—	—
Non-current lease liability	115M YoY+1.3%	113M YoY+8.3%	105M YoY+36.1%	77.0M YoY+24.5%	61.8M YoY+40.2%
Operating lease liability (total)	141M YoY+2.8%	137M YoY+9.3%	125M YoY+36.7%	91.6M YoY+21.0%	75.7M YoY+29.9%
Finance lease liability (total)	17.8M YoY-31.2%	25.9M YoY-7.0%	27.8M YoY+85.5%	15.0M YoY+33.4%	11.2M YoY+17.5%
Finance lease liability	14.5M YoY-33.6%	21.8M YoY-7.5%	23.6M YoY+76.2%	13.4M YoY+37.0%	9.76M YoY+14.4%
Deferred tax liabilities	107M YoY-6.1%	114M YoY-13.4%	132M YoY+85.3%	71.2M YoY+74.6%	40.8M YoY-26.8%
Other non-current liabilities	550M YoY+4.6%	526M YoY+38.5%	380M YoY+12.0%	339M YoY-10.4%	378M YoY+35.0%
	4.31B YoY+18.4%	3.64B YoY+15.6%	3.15B YoY+20.7%	2.61B YoY+15.2%	2.26B YoY+14.3%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	651M YoY+8.6%	599M YoY+3.6%	579M YoY+45.7%	397M YoY+23.9%	321M YoY+6.9%
Retained earnings	3.65B YoY+19.1%	3.06B YoY+17.5%	2.61B YoY+15.6%	2.25B YoY+15.6%	1.95B YoY+15.5%
Accumulated other comprehensive income	5.58M YoY+121.4%	-26.1M YoY+35.1%	-40.2M YoY+13.6%	-46.5M YoY-443.7%	-8.55M YoY+6.5%
Non-controlling interest	73.9M YoY+22.0%	60.5M YoY+28.4%	47.2M YoY+11.8%	42.2M YoY+24.5%	33.9M YoY+11.3%
Total equity incl. non-controlling	4.38B YoY+18.4%	3.70B YoY+15.8%	3.19B YoY+20.6%	2.65B YoY+15.3%	2.30B YoY+14.2%
Total liabilities & equity	8.50B YoY+12.0%	7.59B YoY+5.5%	7.20B YoY+75.7%	4.10B YoY+17.1%	3.50B YoY-1.4%
	55.1M YoY+0.3%	55.0M YoY+0.5%	54.7M YoY+0.4%	54.5M YoY+0.5%	54.3M YoY+0.1%
	55.1M YoY+0.3%	55.0M YoY+0.5%	54.7M YoY+0.4%	54.5M YoY+0.5%	54.3M YoY+0.1%
Cash Flow	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
	934M YoY+39.0%	672M YoY+49.8%	449M YoY-4.1%	468M YoY+5.4%	444M YoY+8.5%
Depreciation & amortization	196M YoY+11.8%	175M YoY+34.8%	130M YoY+35.0%	96.3M YoY+3.6%	93.0M YoY+5.0%
Intangible amortization	138M YoY+12.8%	122M YoY+42.4%	85.9M YoY+37.4%	62.5M YoY+2.0%	61.3M YoY+6.8%
Deferred income taxes	-48.6M YoY-120.7%	-22.0M YoY+17.1%	-26.5M YoY-398.9%	8.88M YoY+156.8%	-15.6M YoY-160.7%
Change in inventory	44.9M YoY-66.3%	133M YoY+6.5%	125M YoY+39.9%	89.2M YoY+781.2%	10.1M YoY-64.3%
Change in payables	27.6M YoY+380.9%	-9.82M YoY-189.5%	11.0M YoY-57.1%	25.6M YoY+270.2%	6.91M YoY+122.8%
	-732M YoY-149.6%	-293M YoY+88.2%	-2.48B YoY-527.7%	-396M YoY-115.8%	-183M YoY+7.8%
Capital expenditure	72.9M YoY+25.1%	58.3M YoY+17.9%	49.4M YoY+54.6%	32.0M YoY-11.6%	36.2M YoY+57.7%
Free cash flow	861M YoY+40.3%	614M YoY+53.8%	399M YoY-8.4%	436M YoY+6.9%	408M YoY+5.6%
Acquisitions	630M YoY+187.2%	219M YoY-90.9%	2.42B YoY+597.3%	347M YoY+154.4%	137M YoY-16.7%
Other investing activities	-3.98M YoY+6.6%	-4.26M YoY+24.5%	-5.65M YoY-555.8%	1.24M YoY+138.4%	-3.23M YoY+13.6%
	-151M YoY+61.3%	-389M YoY-118.9%	2.07B YoY+6203.7%	-33.8M YoY+93.9%	-559M YoY-505.8%
Long-term debt issued	0.00	0.00 YoY-100.0%	1.19B	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	32.0M YoY+10.0%	29.1M YoY+6.2%	27.4M YoY+11.9%	24.5M YoY+6.4%	23.0M YoY+6.7%
Other financing activities	-4.32M YoY-15.1%	-3.76M YoY-1104.2%	-312K YoY+49.4%	-616K YoY+52.1%	-1.29M YoY-10.8%
FX effect on cash	3.78M YoY+195.8%	1.28M YoY-42.6%	2.23M YoY+131.9%	-6.99M YoY-3135.2%	-216K YoY-110.7%
Net change in cash	55.7M YoY+722.4%	-8.95M YoY-128.4%	31.5M YoY+1.1%	31.2M YoY+110.5%	-299M YoY-185.3%
Interest paid	—	—	—	6.04M YoY-17.9%	7.36M YoY-45.2%
Income taxes paid	214M YoY+86.0%	115M YoY-17.2%	139M YoY+71.2%	81.0M YoY+19.7%	67.7M YoY+59.0%
Valuation Ratios	as ofOct 31 ’25	as ofOct 31 ’24	as ofOct 31 ’23	as ofOct 31 ’22	as ofOct 31 ’21
Market cap	17.5B YoY+30.1%	13.5B YoY+55.4%	8.67B YoY-2.2%	8.87B YoY+17.3%	7.56B YoY+32.8%
P/E	25.4× YoY-3.1%	26.2× YoY+22.0%	21.5× YoY-14.8%	25.2× YoY-6.4%	26.9× YoY+59.7%
P/S	3.9× YoY+11.9%	3.5× YoY+19.5%	2.9× YoY-27.3%	4.0× YoY-5.3%	4.2× YoY+41.7%
P/B	4.1× YoY+9.9%	3.7× YoY+34.4%	2.8× YoY-19.0%	3.4× YoY-1.6%	3.5× YoY+16.7%
P/FCF	20.3× YoY-7.2%	21.9× YoY+1.0%	21.7× YoY+6.7%	20.3× YoY+10.0%	18.5× YoY+29.4%
	3.9% YoY+3.2%	3.8% YoY-18.0%	4.7% YoY+17.4%	4.0% YoY+6.9%	3.7% YoY-37.4%
	4.9% YoY+7.8%	4.6% YoY-1.0%	4.6% YoY-6.3%	4.9% YoY-9.1%	5.4% YoY-22.7%
	0.07% YoY-15.6%	0.09% YoY-32.1%	0.13% YoY+14.1%	0.11% YoY-9.3%	0.12% YoY-19.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: HEI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HEI filings on SEC EDGAR → Not investment advice.