HEICO Corporation

NYSE-HEI

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Operating Activities	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24	Apr '24
Net Income	693.7	650.8	615.2	559.1	521.8	486.7
Net Income from Consolidated Operations
Depreciation & Amortization	189.6	184.1	178.1	175.3	174.4	159.6
Depreciation and Amortization
Stock Based Compensation	23	20	18.6	18.8	19.2	18.9
Share-Based Compensation Expense
Other Adjustments	-7.5	-8.9	-15.6	-6.8	-13.3	-18.8
Employer Contributions to HEICO Savings and Investment Plan
Foreign Currency Transaction Adjustments, Net
Change in Accrued Contingent Consideration, Net
Impairment of Intangible Assets
Amendment and Termination of Contingent Consideration Agreement
Deferred Income Tax Benefit
Tax Benefit from Stock Option Exercises
Excess Tax Benefit from Stock Option Exercises
Other
Changes in Trade Receivables	-69.6	-80.7	-48.9	-19.5	-60.1	-38.3
Change in Accounts Receivable
Change in Contract Assets
Changes in Inventories	-90.9	-108	-119.3	-132.9	-140.3	-120.6
Change in Inventories
Changes in Accounts Payable	18.1	30.8	12.2	-9.8	13.7	-7.2
Change in Trade Accounts Payable
Changes in Accrued Expenses	35.1	40.9	8.6	22.1	59.3	17.2
Change in Accrued Expenses and Other Current Liabilities
Changes in Income Taxes Payable	2.1	37.6	24.8	20.2	-9.1	2.5
Change in Income Taxes Payable
Changes in Other Operating Activities	51.6	55.3	84.8	45.9	49.8	53.4
Payment of Contingent Consideration
Change in Prepaid Expenses and Other Current Assets
Net Changes in Other Long-Term Liabilities and Assets Related to HEICO Leadership Compensation Plan
Other Long-Term Assets and Liabilities, Net
Other
Cash from Operating Activities	844.6	827.3	763.8	672.4	615.1	547.1
Net Cash Provided by Operating Activities

Investing Activities	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24	Apr '24
Capital Expenditure	-62.1	-65.2	-62.2	-58.3	-57.4	-53.8
Capital Expenditures
Purchases of Investments	-25.1	-23.2	-21.8	-19.9	-21.4	-21.7
Investments Related to HEICO Leadership Compensation Plan
Payments for Business Acquisitions	-794	-459.2	-451	-219.3	-1,973.4	-1,966.9
Acquisitions, Net of Cash Acquired
Other Investing Activities	2.5	0	1.8	4.3	6.7	6.9
Other
Cash from Investing Activities	-878.7	-547.7	-510.1	-293.2	-2,022.4	-2,010
Net Cash Provided by Investing Activities

Financing Activities	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24	Apr '24
Issuance of Short-Term Debt	647.5	337.5	290	130	1,515	1,483
Borrowings on Revolving Credit Facility
Repayments of Short-Term Debt	-385	-335	-370	-378.9	-405	-1,030.2
Payments on Revolving Credit Facility
Payments on Short-Term Debt, Net
Net Issuance / (Repayments) of Short-Term Debt	262.5	2.5	-80	-248.9	1,110	452.8
Issuance of Long-Term Debt	—	—	—	—	—	—
Proceeds from Issuance of Senior Unsecured Notes
Net Issuance / (Repayments) of Long-Term Debt	—	—	—	—	—	—
Issuance of Common Shares	13.2	9.6	7.3	8	7.6	6.8
Proceeds from Stock Option Exercises
Repurchases of Common Shares	-27.1	-29	-29.4	-29.9	-4.9	-2.4
Redemptions of Common Stock Related to Stock Option Exercises
Net Issuance / (Repurchases) of Common Shares	-13.8	-19.4	-22.1	-22	2.8	4.4
Common Share Dividends Paid	-47.2	-45.8	-45	-29.1	-42.8	-41.3
Cash Dividends Paid
Other Financing Activities	-60.1	-105.2	-108.4	-89.4	-34.3	-33
Distributions to Noncontrolling Interests
Payment of Contingent Consideration
Acquisitions of Noncontrolling Interests
Debt Issuance Costs
Excess Tax Benefit from Stock Option Exercises
Capital Contributions from Noncontrolling Interests
Other
Cash from Financing Activities	89.9	-244.9	-282	-389.4	916.9	1,541.1
Net Cash Provided by Financing Activities

Free Cash Flow	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24	Apr '24
Free Cash Flow	782.4	762.1	701.5	614.1	557.7	493.3
NOPAT	801.1	763.8	733.5	680.3	647.6	592.1
Levered Free Cash Flow	1,047.7	779.1	614.3	327.7	1,678.2	947.1
Unlevered Free Cash Flow	944.6	939.4	860.4	742.8	737.9	643
Net Change in Cash	55.7	34.7	-28.3	-10.2	-490.4	78.2