Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.38B | $1.52B | $1.78B | $2.06B | $1.79B | $1.87B | $2.21B | $2.97B | $3.86B | $4.49B |
| Revenue growth | — | 10.8% | 16.6% | 15.6% | -13.1% | 4.4% | 18.4% | 34.4% | 30.0% | 16.3% |
| Operating income | $265M | $307M | $376M | $457M | $377M | $393M | $497M | $625M | $824M | $1.02B |
| Operating margin | 19.3% | 20.1% | 21.2% | 22.2% | 21.1% | 21.1% | 22.5% | 21.1% | 21.4% | 22.7% |
| Net income | $156M | $186M | $259M | $328M | $314M | $304M | $352M | $404M | $514M | $690M |
| Net margin | 11.3% | 12.2% | 14.6% | 16.0% | 17.6% | 16.3% | 15.9% | 13.6% | 13.3% | 15.4% |
| EPS (diluted) | $1.17 | $1.37 | $1.90 | $2.39 | $2.29 | $2.21 | $2.55 | $2.91 | $3.67 | $4.90 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $260M | $288M | $328M | $437M | $409M | $444M | $468M | $449M | $672M | $934M |
| Capital expenditures | $30.9M | $26.0M | $41.9M | $28.9M | $22.9M | $36.2M | $32.0M | $49.4M | $58.3M | $72.9M |
| Free cash flow | $229M | $262M | $287M | $408M | $386M | $408M | $436M | $399M | $614M | $861M |
| Dividends paid | $10.7M | $12.8M | $15.4M | $18.7M | $21.6M | $23.0M | $24.5M | $27.4M | $29.1M | $32.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $52.1M | $52.1M | $59.6M | $57.0M | $407M | $108M | $140M | $171M | $162M | $218M |
| Total assets | $2.00B | $2.51B | $2.65B | $2.97B | $3.55B | $3.50B | $4.10B | $7.20B | $7.59B | $8.50B |
| Total liabilities | $851M | $1.13B | $1.02B | $1.09B | $1.32B | $949M | $1.12B | $3.64B | $3.53B | $3.65B |
| Shareholders' equity | $963M | $1.16B | $1.40B | $1.67B | $1.98B | $2.26B | $2.61B | $3.15B | $3.64B | $4.31B |
| Retained earnings | $682M | $844M | $1.09B | $1.40B | $1.69B | $1.95B | $2.25B | $2.61B | $3.06B | $3.65B |
| Shares (wtd avg diluted) | 133M | 136M | 137M | 137M | 137M | 138M | 138M | 139M | 140M | 141M |
Every figure is extracted from HEICO CORP’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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