Form 8-K

8-K — HEICO CORP

Accession: 0000046619-26-000018

Filed: 2026-08-25

Period: 2026-08-25

CIK: 0000046619

SIC: 3724 (AIRCRAFT ENGINES & ENGINE PARTS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — hei-20260825.htm (Primary)

EX-99.1 (a07312026ex991earningsrele.htm)

XML — IDEA: XBRL DOCUMENT (R1.htm)

XML — IDEA: XBRL DOCUMENT (R2.htm)

8-K

8-K (Primary)

Filename: hei-20260825.htm · Sequence: 1

hei-20260825

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): August 25, 2026

HEICO CORPORATION

(Exact name of registrant as specified in its charter)

Florida 001-04604 65-0341002

(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification Number)

3000 Taft Street, Hollywood, Florida 33021

(Address of Principal Executive Offices) (Zip Code)

(954) 987-4000

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $.01 par value per share HEI New York Stock Exchange

Class A Common Stock, $.01 par value per share HEI.A New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 25, 2026, HEICO Corporation (the "Company") issued a press release announcing its results of operations for the three and nine months ended July 31, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Description

99.1

Press release dated August 25, 2026

104 Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

HEICO CORPORATION

Date: August 25, 2026 By: /s/ CARLOS L. MACAU, JR.

Carlos L. Macau, Jr.

Executive Vice President - Chief Financial Officer and Treasurer

EX-99.1

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Document

EXHIBIT 99.1

August 25, 2026

Victor H. Mendelson (305) 374-1745 ext. 7590

Carlos L. Macau, Jr. (954) 987-4000 ext. 7570

HEICO CORPORATION REPORTS RECORD NET INCOME (UP 33%) ON RECORD OPERATING INCOME (UP 34%) AND RECORD NET SALES (UP 23%) FOR THE THIRD QUARTER OF FISCAL 2026

Consolidated Quarterly Organic Net Sales Growth Reaches 14%

HOLLYWOOD, FL and MIAMI, FL -- HEICO CORPORATION (NYSE: HEI.A) (NYSE: HEI) today reported an increase in net income of 33% to a record $235.4 million, or $1.67 per diluted share, in the third quarter of fiscal 2026, up from $177.3 million, or $1.26 per diluted share, in the third quarter of fiscal 2025. Net income increased 31% to a record $659.4 million, or $4.67 per diluted share, in the first nine months of fiscal 2026, up from $502.1 million, or $3.57 per diluted share, in the first nine months of fiscal 2025.

Net sales increased 23% to a record $1,413.1 million in the third quarter of fiscal 2026, up from $1,147.6 million in the third quarter of fiscal 2025. Operating income increased 34% to a record $355.2 million in the third quarter of fiscal 2026, up from $265.0 million in the third quarter of fiscal 2025. The Company's consolidated operating margin improved to 25.1% in the third quarter of fiscal 2026, up from 23.1% in the third quarter of fiscal 2025.

Net sales increased 21% to a record $3,967.3 million in the first nine months of fiscal 2026, up from $3,275.6 million in the first nine months of fiscal 2025. Operating income increased 30% to a record $965.5 million in the first nine months of fiscal 2026, up from $740.0 million in the first nine months of fiscal 2025. The Company's consolidated operating margin improved to 24.3% in the first nine months of fiscal 2026, up from 22.6% in the first nine months of fiscal 2025.

EBITDA increased 31% to $415.2 million in the third quarter of fiscal 2026, up from $316.4 million in the third quarter of fiscal 2025. EBITDA increased 28% to $1,135.5 million in the first nine months of fiscal 2026, up from $888.1 million in the first nine months of fiscal 2025. See our reconciliation of net income attributable to HEICO to EBITDA at the end of this press release.

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Consolidated Results

Eric A. Mendelson and Victor H. Mendelson, HEICO’s Co-Chairmen and Co-Chief Executive Officers, commented on the Company's third quarter results stating, "HEICO continued its excellent growth, with record quarterly net income, operating income and net sales supported by 14% consolidated organic net sales growth and contributions from our profitable fiscal 2026 and 2025 acquisitions.

Cash flow provided by operating activities increased 49% to $345.3 million in the third quarter of fiscal 2026, up from $231.2 million in the third quarter of fiscal 2025. We continue to forecast strong cash flow from operations for fiscal 2026.

Our total debt to net income attributable to HEICO ratio improved to 3.00x as of July 31, 2026, down from 3.14x as of October 31, 2025, and our net debt to EBITDA ratio improved to 1.57x as of July 31, 2026, down from 1.60x as of October 31, 2025. See our reconciliation of total debt to net debt at the end of this press release.

During the third quarter, we successfully completed the public offering of $550 million aggregate principal amount of 4.950% Senior Notes due August 1, 2031 and $650 million aggregate principal amount of 5.400% Senior Notes due August 1, 2036. We used the net proceeds from the offering to repay outstanding borrowings under our revolving credit facility.

For the remainder of fiscal 2026, we expect increased net sales at both the Flight Support Group and Electronic Technologies Group to continue to be supported by underlying demand for our products and contributions from recent acquisitions. We remain focused on identifying and evaluating acquisition opportunities that align with our strategic objectives. Our capital allocation strategy continues to prioritize investments in organic growth and acquisitions while preserving adequate liquidity and financial flexibility."

Flight Support Group

The Flight Support Group delivered record quarterly net sales and operating income in the third quarter of fiscal 2026, with operating income and net sales increasing 24% and 18%, respectively, as compared to the third quarter of fiscal 2025. These strong results were driven by continued organic net sales growth across all of our product lines, as well as contributions from our fiscal 2026 acquisitions.

The Flight Support Group's net sales increased 18% to a record $947.8 million in the third quarter of fiscal 2026, up from $802.7 million in the third quarter of fiscal 2025. The net sales increase resulted from strong organic growth of 12%, as well as the impact from our fiscal 2026 acquisitions. The organic net sales growth reflects increased demand across all of our product lines.

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The Flight Support Group's net sales increased 18% to a record $2,697.2 million in the first nine months of fiscal 2026, up from $2,282.9 million in the first nine months of fiscal 2025. The net sales increase resulted from robust organic growth of 15%, as well as the impact from our fiscal 2026 and 2025 acquisitions. The organic net sales growth stems from increased demand across all of our product lines.

The Flight Support Group's operating income increased 24% to a record $245.3 million in the third quarter of fiscal 2026, up from $198.3 million in the third quarter of fiscal 2025. The operating income increase was principally derived from the previously mentioned net sales growth, an improved gross profit margin, and selling, general and administrative ("SG&A") expense efficiencies realized from the net sales growth. The improved gross profit margin principally reflects a more favorable product mix within our specialty products and aftermarket replacement parts product lines.

The Flight Support Group's operating income increased 25% to a record $689.1 million in the first nine months of fiscal 2026, up from $549.4 million in the first nine months of fiscal 2025. The operating income increase was driven by the previously mentioned net sales growth, an improved gross profit margin, and SG&A expense efficiencies realized from the net sales growth. The improved gross profit margin mainly reflects a more favorable product mix within our aftermarket replacement parts product line.

The Flight Support Group's operating margin improved to 25.9% in the third quarter of fiscal 2026, up from 24.7% in the third quarter of fiscal 2025. The operating margin increase arose chiefly from the previously mentioned improved gross profit margin.

The Flight Support Group's operating margin improved to 25.5% in the first nine months of fiscal 2026, up from 24.1% in the first nine months of fiscal 2025. The operating margin increase reflects the previously mentioned improved gross profit margin and decreased SG&A expenses as a percentage of net sales, primarily driven by the previously mentioned SG&A expense efficiencies.

Electronic Technologies Group

The Electronic Technologies Group's strong performance continued in the third quarter of fiscal 2026, with record operating income and net sales increasing 55% and 36%, respectively, as compared to the third quarter of fiscal 2025. These exceptional results were driven by robust organic net sales growth across most of our products, as well as contributions from our fiscal 2026 and 2025 acquisitions.

The Electronic Technologies Group's net sales increased 36% to a record $483.5 million in the third quarter of fiscal 2026, up from $355.9 million in the third quarter of fiscal 2025. The net sales increase reflects robust organic growth of 18% and the impact from our fiscal 2026 and 2025 acquisitions. The organic net sales growth is mainly

attributable to increased demand for our other electronics, defense, and aerospace products.

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The Electronic Technologies Group's net sales increased 28% to a record $1,313.7 million in the first nine months of fiscal 2026, up from $1,028.3 million in the first nine months of fiscal 2025. The net sales increase came from strong organic growth of 14% and the impact from our fiscal 2026 and 2025 acquisitions. The organic net sales growth is mainly attributable to increased demand for our other electronics, defense, aerospace, and medical products.

The Electronic Technologies Group's operating income increased 55% to a record $125.6 million in the third quarter of fiscal 2026, up from $81.0 million in the third quarter of fiscal 2025. The operating income increase principally reflects the previously mentioned net sales growth, SG&A expense efficiencies realized from the net sales growth, and an improved gross profit margin. The improved gross profit margin was mainly fueled by the previously mentioned higher net sales of our aerospace products.

The Electronic Technologies Group's operating income increased 36% to a record $320.6 million in the first nine months of fiscal 2026, up from $235.3 million in the first nine months of fiscal 2025. The operating income increase was predominantly propelled by the previously mentioned net sales growth, SG&A expense efficiencies realized from the net sales growth, and an improved gross profit margin. The improved gross profit margin principally reflects the previously mentioned higher net sales of our aerospace products, partially offset by a lower proportion of net sales from our space products.

The Electronic Technologies Group's operating margin improved to 26.0% in the third quarter of fiscal 2026, up from 22.8% in the third quarter of fiscal 2025. The Electronic Technologies Group's operating margin improved to 24.4% in the first nine months of fiscal 2026, up from 22.9% in the first nine months of fiscal 2025. The operating margin increase in the third quarter and first nine months of fiscal 2026 resulted from decreased SG&A expenses as a percentage of net sales, primarily driven by the previously mentioned SG&A expense efficiencies, and the previously mentioned improved gross profit margin.

Non-GAAP Financial Measures

To provide additional information about the Company's results, HEICO has discussed in this press release its EBITDA (calculated as net income attributable to HEICO adjusted for depreciation and amortization expense, net income attributable to noncontrolling interests, interest expense and income tax expense), its net debt (calculated as total debt less cash and cash equivalents), and its net debt to EBITDA ratio (calculated as net debt divided by EBITDA), which are not prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

These non-GAAP measures are included to supplement the Company’s financial information presented in accordance with GAAP and because the Company uses such measures to monitor and evaluate the performance of its business and believes the

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presentation of these measures enhances an investor's ability to analyze trends in the Company’s business and to evaluate the Company’s performance relative to other companies in its industry. However, these non-GAAP measures have limitations and should not be considered in isolation or as a substitute for analysis of the Company's financial results as reported under GAAP.

These non-GAAP measures are not in accordance with, or an alternative to, measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. These measures should only be used to evaluate the Company's results of operations in conjunction with their corresponding GAAP measures. Pursuant to the requirements of Regulation G of the Securities Exchange Act of 1934, the Company has provided a reconciliation of these non-GAAP measures in the last table included in this press release.

(NOTE: HEICO has two classes of common stock traded on the NYSE. Both classes, the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually identical in all economic respects. The only difference between the share classes is the voting rights. The Class A Common Stock (HEI.A) carries 1/10 vote per share and the Common Stock (HEI) carries one vote per share.)

There are currently approximately 84.5 million shares of HEICO's Class A Common Stock (HEI.A) outstanding and 55.2 million shares of HEICO's Common Stock (HEI) outstanding. The stock symbols for HEICO’s two classes of common stock on most websites are HEI.A and HEI. However, some websites change HEICO's Class A Common Stock trading symbol (HEI.A) to HEI/A or HEIa.

As previously announced, HEICO will hold a conference call on Wednesday, August 26, 2026 at 9:00 a.m. Eastern Daylight Time to discuss its third quarter results. Individuals wishing to participate in the conference call should dial: US and Canada (800) 330-6710, International (646) 769-9200, wait for the conference operator and provide the operator with the Conference ID 2905092. A digital replay will be available two hours after the completion of the conference for 14 days. To access the replay, please visit our website at https://www.heico.com under the Investors section for details.

HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO’s customers include a majority of the world’s airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at https://www.heico.com.

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Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats; our liquidity and the amount and timing of cash generation; lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase in our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; cybersecurity events or other disruptions of our information technology systems could adversely affect our business; and our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; and economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

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HEICO CORPORATION

Condensed Consolidated Statements of Operations (Unaudited)

(in thousands, except per share data)

Three Months Ended July 31,

2026 2025

Net sales

$1,413,050 $1,147,591

Cost of sales

832,063 690,434

Selling, general and administrative expenses

225,790 192,138

Operating income

355,197 265,019

Interest expense

(35,904) (31,701)

Other income

1,285 1,662

Income before income taxes and noncontrolling interests

320,578 234,980

Income tax expense

66,100 44,300

Net income from consolidated operations

254,478 190,680

Less: Net income attributable to noncontrolling interests

19,039 13,339

Net income attributable to HEICO

$235,439 $177,341

Net income per share attributable to HEICO shareholders:

Basic

$1.69 $1.27

Diluted

$1.67 $1.26

Weighted average number of common shares outstanding:

Basic

139,702 139,135

Diluted

141,269 140,950

Three Months Ended July 31,

2026 2025

Operating segment information:

Net sales:

Flight Support Group

$947,803 $802,661

Electronic Technologies Group

483,487 355,863

Intersegment sales

(18,240) (10,933)

$1,413,050 $1,147,591

Operating income:

Flight Support Group

$245,299 $198,326

Electronic Technologies Group

125,565 80,998

Other, primarily corporate

(15,667) (14,305)

$355,197 $265,019

Depreciation and amortization:

Flight Support Group

$32,457 $28,581

Electronic Technologies Group

26,634 20,297

Other, primarily corporate

(348) 889

$58,743 (c) $49,767 (c)

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HEICO CORPORATION

Condensed Consolidated Statements of Operations (Unaudited)

(in thousands, except per share data)

Nine Months Ended July 31,

2026 2025

Net sales

$3,967,345 $3,275,633

Cost of sales

2,361,869 1,975,010

Selling, general and administrative expenses

639,943 560,647

Operating income

965,533 739,976

Interest expense

(99,551) (97,024)

Other income

3,583 3,217

Income before income taxes and noncontrolling interests

869,565 646,169

Income tax expense

160,000

(a)

103,400

(b)

Net income from consolidated operations

709,565 542,769

Less: Net income attributable to noncontrolling interests

50,137 40,680

Net income attributable to HEICO

$659,428

(a)

$502,089

(b)

Net income per share attributable to HEICO shareholders:

Basic

$4.73

(a)

$3.61

(b)

Diluted

$4.67

(a)

$3.57

(b)

Weighted average number of common shares outstanding:

Basic

139,544 138,993

Diluted

141,122 140,678

Nine Months Ended July 31,

2026 2025

Operating segment information:

Net sales:

Flight Support Group

$2,697,230 $2,282,905

Electronic Technologies Group

1,313,694 1,028,345

Intersegment sales

(43,579) (35,617)

$3,967,345 $3,275,633

Operating income:

Flight Support Group

$689,096 $549,422

Electronic Technologies Group

320,620 235,334

Other, primarily corporate

(44,183) (44,780)

$965,533 $739,976

Depreciation and amortization:

Flight Support Group

$90,223 $82,862

Electronic Technologies Group

74,834 59,334

Other, primarily corporate

1,328 2,673

$166,385 (c) $144,869 (c)

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HEICO CORPORATION

Footnotes to Condensed Consolidated Statements of Operations (Unaudited)

(a)During the first quarter of fiscal 2026, the Company recognized a $22.3 million discrete tax benefit from stock option exercises, which, net of noncontrolling interests, increased net income attributable to HEICO by $21.8 million, or $.16 per basic share and $.15 per diluted share.

(b)During the first quarter of fiscal 2025, the Company recognized a $27.2 million discrete tax benefit from stock option exercises, which, net of noncontrolling interests, increased net income attributable to HEICO by $26.5 million, or $.19 per basic and diluted share.

(c)Depreciation and amortization information on the Company's two operating segments for the three and nine months ended July 31, 2026 and 2025, is as follows (in thousands):

Three Months Ended July 31,

Nine Months Ended July 31,

2026 2025 2026 2025

Depreciation:

Flight Support Group

$7,732 $7,096 $21,770 $20,283

Electronic Technologies Group

7,514 6,556 21,599 18,586

Other, primarily corporate

437 497 1,328 1,496

$15,683 $14,149 $44,697 $40,365

Amortization:

Flight Support Group

$24,725 $21,485 $68,453 $62,579

Electronic Technologies Group

19,120 13,741 53,235 40,748

Other, primarily corporate *

(785) 392 — 1,177

$43,060 $35,618 $121,688 $104,504

* Corporate amortization expense for the three months ended July 31, 2026 reflects a year-to-date reclassification of debt issuance cost amortization associated with the Company’s revolving credit facility from SG&A expenses to interest expense.

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HEICO CORPORATION

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands)

July 31, 2026

October 31, 2025

Cash and cash equivalents

$240,959 $217,781

Accounts receivable, net

736,335 637,615

Contract assets

134,443 119,257

Inventories, net

1,447,885 1,295,336

Prepaid expenses and other current assets

165,869 86,377

Total current assets

2,725,491 2,356,366

Property, plant and equipment, net

478,326 431,710

Goodwill

4,356,143 3,661,624

Intangible assets, net

1,776,942 1,471,440

Other assets

599,709 579,294

Total assets

$9,936,611 $8,500,434

Current maturities of long-term debt

$3,513 $3,358

Other current liabilities

999,566 828,646

Total current liabilities

1,003,079 832,004

Long-term debt, net of current maturities

2,537,660 2,164,587

Deferred income taxes

181,511 107,186

Other long-term liabilities

571,536 550,124

Total liabilities

4,293,786 3,653,901

Redeemable noncontrolling interests

617,893 467,358

Shareholders’ equity

5,024,932 4,379,175

Total liabilities and equity

$9,936,611 $8,500,434

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HEICO CORPORATION

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

Nine Months Ended July 31,

2026 2025

Operating Activities:

Net income from consolidated operations

$709,565 $542,769

Depreciation and amortization

166,385 144,869

Share-based compensation expense

34,439 18,346

Employer contributions to HEICO Savings and Investment Plan

17,892 14,186

Increase in accrued contingent consideration, net

7,973 8,974

Deferred income tax provision (benefit)

2,755 (28,789)

Payment of contingent consideration

— (2,190)

Increase in accounts receivable

(58,724) (36,063)

Increase in contract assets

(8,337) (20,305)

Increase in inventories

(78,368) (60,157)

Increase in current liabilities, net

24,533 13,147

Other

(2,207) 44,153

Net cash provided by operating activities

815,906 638,940

Investing Activities:

Acquisitions, net of cash acquired

(1,018,164) (629,928)

Capital expenditures

(54,104) (46,038)

Investments related to HEICO Leadership Compensation Plan

(19,397) (21,689)

Proceeds from corporate-owned life insurance policy withdrawals 22,654 —

Other

(3,858) (39)

Net cash used in investing activities

(1,072,869) (697,694)

Financing Activities:

Proceeds from issuance of senior unsecured notes

1,191,506 —

(Payments) borrowings on revolving credit facility, net

(815,000) 220,000

Cash dividends paid

(34,889) (31,968)

Acquisitions of noncontrolling interests

(29,345) (5,773)

Distributions to noncontrolling interests

(25,820) (27,248)

Redemptions of common stock related to stock option exercises

(4,924) (1,979)

Debt issuance costs (4,582) —

Payment of contingent consideration

— (5,954)

Proceeds from stock option exercises

5,294 11,680

Other

(2,234) (3,509)

Net cash provided by financing activities

280,006 155,249

Effect of exchange rate changes on cash

135 3,290

Net increase in cash and cash equivalents

23,178 99,785

Cash and cash equivalents at beginning of year

217,781 162,103

Cash and cash equivalents at end of period

$240,959 $261,888

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HEICO CORPORATION

Non-GAAP Financial Measures (Unaudited)

(in thousands, except ratios)

Three Months Ended July 31,

EBITDA Calculation 2026 2025

Net income attributable to HEICO $235,439 $177,341

Plus: Depreciation and amortization 58,743 49,767

Plus: Net income attributable to noncontrolling interests 19,039 13,339

Plus: Interest expense 35,904 31,701

Plus: Income tax expense 66,100 44,300

EBITDA (a)

$415,225 $316,448

Nine Months Ended July 31,

EBITDA Calculation 2026 2025

Net income attributable to HEICO $659,428 $502,089

Plus: Depreciation and amortization 166,385 144,869

Plus: Net income attributable to noncontrolling interests 50,137 40,680

Plus: Interest expense 99,551 97,024

Plus: Income tax expense 160,000 103,400

EBITDA (a)

$1,135,501 $888,062

Trailing Twelve Months Ended

EBITDA Calculation July 31, 2026 October 31, 2025

Net income attributable to HEICO $847,724 $690,385

Plus: Depreciation and amortization 217,592 196,076

Plus: Net income attributable to noncontrolling interests 64,626 55,169

Plus: Interest expense 132,404 129,877

Plus: Income tax expense 204,600 148,000

EBITDA (a)

$1,466,946 $1,219,507

Net Debt Calculation July 31, 2026 October 31, 2025

Total debt $2,541,173 $2,167,945

Less: Cash and cash equivalents (240,959) (217,781)

Net debt (a)

$2,300,214 $1,950,164

Total debt $2,541,173 $2,167,945

Net income attributable to HEICO (trailing twelve months) $847,724 $690,385

Total debt to net income attributable to HEICO ratio 3.00 3.14

Net debt $2,300,214 $1,950,164

EBITDA (trailing twelve months) $1,466,946 $1,219,507

Net debt to EBITDA ratio (a)

1.57 1.60

(a) See the "Non-GAAP Financial Measures" section of this press release.

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XML — IDEA: XBRL DOCUMENT

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Filename: R2.htm · Sequence: 9

v3.26.1

DOCUMENT AND ENTITY INFORMATION

Aug. 25, 2026

Entity Information [Line Items]

Entity Registrant Name

HEICO CORPORATION

Entity Incorporation, State or Country Code

Entity File Number

001-04604

Entity Tax Identification Number

65-0341002

Entity Address, Address Line One

3000 Taft Street

Entity Address, City or Town

Hollywood

Entity Address, State or Province

Entity Address, Postal Zip Code

33021

City Area Code

954

Local Phone Number

987-4000

Entity Emerging Growth Company

false

Entity Central Index Key

0000046619

Heico Common Stock [Member]

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Title of 12(b) Security

Common Stock, $.01 par value per share

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HEI

Security Exchange Name

NYSE

Common Class A [Member]

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Class A Common Stock, $.01 par value per share

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HEI.A

Security Exchange Name

NYSE

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