Highwater Ethanol, LLC (HEOL)

Highwater Ethanol, LLC Financials Overview

Financials in millions USD. Fiscal year is November - October.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Revenue Revenue Growth	149.87	141.17	141.82	199.05	221.37	158.72
Revenue Growth	8.79%	-0.46%	-28.75%	-10.08%	39.48%	63.20%
Gross Profit Gross Profit Growth	23.1	9.61	9.02	19.57	32.93	15.55
Operating Income Operating Income Growth	17.05	5	4.7	15.36	28.94	12.31
Net Income Net Income Growth	39.88	16.33	6.11	16.74	33.33	13.74

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Cash & Investments Cash & Investments Growth	34.88	23.45	33.83	41.52	29.79	7.55
Total Debt Total Debt Growth	0.53	0.64	0.78	1.02	1.3	5.06
Net Cash (Debt) Net Cash Growth	34.34	22.81	33.05	40.5	28.49	2.49
Net Cash Growth	160.75%	-30.99%	-18.39%	42.17%	1045.56%	-

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Operating Cash Flow Operating Cash Flow Growth	34.52	3.47	14.13	29.05	45.47	22.41
Capital Expenditures CapEx Growth	-6.79	-5.74	-5.52	-1.28	-1.36	-6.83
Free Cash Flow Free Cash Flow Growth	27.72	-2.27	8.6	27.77	44.11	15.58
Free Cash Flow Growth	-	-	-69.02%	-37.03%	183.05%	-

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul 31, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Gross Margin	15.42%	6.81%	6.36%	9.83%	14.87%	9.79%
Operating Margin	11.37%	3.54%	3.31%	7.72%	13.07%	7.76%
Pretax Margin	26.61%	11.57%	4.31%	8.41%	15.05%	8.66%
Profit Margin	26.61%	11.56%	4.31%	8.41%	15.05%	8.66%
FCF Margin	18.50%	-1.61%	6.07%	13.95%	19.92%	9.82%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep 19, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022
Dividend Per Share Dividend Per Share Growth	1400.000	1700.000	3400.000	3200.000	3800.000
Dividend Per Share Growth	-	-50.00%	6.25%	-15.79%	-
Dividend Yield	9.26%	15.46%	24.20%	25.44%	47.63%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 19, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
PE Ratio	1.80	3.20	12.25	4.97	1.59	2.17
P/FCF Ratio	2.59	-	8.70	3.00	1.20	1.92
PS Ratio	0.48	0.37	0.53	0.42	0.24	0.19

Data Source: S&P Global Market Intelligence Last updated: Sep 11, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 19, 2026

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