HEICO Corporation (HEI)

HEICO Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jul 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020
Net Income	641.78	514.11	403.6	351.68	304.22	313.98
Depreciation & Amortization	189.55	175.33	130.04	96.33	93.02	88.56
Asset Writedown & Restructuring Costs	1.5	7.5	-	-	-	-
Stock-Based Compensation	41.16	36.39	30.75	24.83	19.15	19.71
Other Operating Activities	43.98	60.41	-11.81	41.02	13.39	20.58
Change in Accounts Receivable	-69.56	-19.52	-77.24	-33.42	-26.92	55.12
Change in Inventory	-90.91	-132.93	-124.78	-89.19	-10.12	-28.32
Change in Accounts Payable	18.1	-9.82	10.98	25.57	6.91	-30.33
Change in Income Taxes	2.08	20.22	-4.51	11.6	2.82	-9.59
Change in Other Net Operating Assets	66.89	20.68	91.7	39.44	41.62	-20.6
Operating Cash Flow	844.56	672.37	448.74	467.86	444.08	409.13
Operating Cash Flow Growth	37.30%	49.84%	-4.09%	5.35%	8.54%	-6.46%
Capital Expenditures	-62.12	-58.26	-49.43	-31.98	-36.18	-22.94
Cash Acquisitions	-794.01	-219.29	-2,422	-347.31	-136.5	-163.94
Other Investing Activities	-22.61	-15.65	-13.25	-16.54	-10.77	-12.16
Investing Cash Flow	-878.74	-293.2	-2,484	-395.83	-183.45	-199.04
Long-Term Debt Issued	-	130	3,153	262	-	245
Short-Term Debt Repaid	-	-13.92	-1.59	-	-	-
Long-Term Debt Repaid	-	-365	-989	-212	-505	-68
Total Debt Repaid	-385	-378.92	-990.59	-212	-505	-68
Net Debt Issued (Repaid)	190	-248.92	2,163	50	-505	177
Issuance of Common Stock	13.24	7.95	6.71	2.35	5.34	6.96
Repurchase of Common Stock	-27.06	-29.91	-14.85	-25.95	-3.79	-12.12
Common Dividends Paid	-31.97	-29.07	-27.37	-24.47	-23	-21.55
Other Financing Activities	-54.32	-89.44	-62.31	-35.77	-32.52	-12.54
Financing Cash Flow	89.9	-389.39	2,065	-33.83	-558.97	137.74
Foreign Exchange Rate Adjustments	3.23	1.28	2.23	-6.99	-0.22	2.03
Net Cash Flow	58.95	-8.95	31.54	31.21	-298.55	349.85
Free Cash Flow	782.44	614.11	399.3	435.87	407.9	386.19
Free Cash Flow Growth	40.30%	53.80%	-8.39%	6.86%	5.62%	-5.45%
Free Cash Flow Margin	18.24%	15.92%	13.45%	19.74%	21.86%	21.61%
Free Cash Flow Per Share	5.56	4.38	2.88	3.16	2.96	2.81
Cash Interest Paid	148.9	148.9	54.14	6.04	7.36	13.42
Cash Income Tax Paid	113.38	113.38	134.82	78.47	66.67	41.18
Levered Free Cash Flow	489.09	367.32	15.41	331.86	301.01	248.49
Unlevered Free Cash Flow	571.85	460.65	61.03	335.85	305.57	256.72
Change in Working Capital	-73.41	-121.37	-103.85	-46	14.3	-33.71

Updated Aug 25, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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