Financial Performance - Net income for the fourth quarter of fiscal 2025 increased 35% to a record $188.3 million, or $1.33 per diluted share, compared to $139.7 million, or $0.99 per diluted share, in the fourth quarter of fiscal 2024[1]. - Net sales rose 19% to a record $1,209.4 million in the fourth quarter of fiscal 2025, up from $1,013.7 million in the same quarter of fiscal 2024[2]. - Operating income increased 28% to a record $279.0 million in the fourth quarter of fiscal 2025, compared to $218.6 million in the fourth quarter of fiscal 2024[2]. - Operating income for the year ended October 31, 2025, rose to $1,018,998,000, a 23.6% increase from $824,455,000 in 2024[32]. - Net income attributable to HEICO for the year ended October 31, 2025, was $690,385,000, representing a 34.3% increase compared to $514,109,000 in 2024[32]. Cash Flow and Assets - Cash flow from operating activities increased 44% to $295.3 million in the fourth quarter of fiscal 2025, up from $205.6 million in the fourth quarter of fiscal 2024[7]. - Net cash provided by operating activities for the year ended October 31, 2025, was $934,266,000, compared to $672,370,000 in 2024, marking a 38.9% increase[37]. - Cash and cash equivalents as of October 31, 2025, increased to $217,781,000 from $162,103,000 in 2024, reflecting a 34.3% growth[36]. - Total assets as of October 31, 2025, reached $8,500,434,000, a 11.9% increase from $7,592,822,000 in 2024[36]. Debt and Leverage - Total debt to net income attributable to HEICO ratio improved to 3.14x as of October 31, 2025, down from 4.34x as of October 31, 2024[8]. - The net debt to EBITDA ratio improved to 1.60 in 2025 from 2.06 in 2024, indicating better leverage management[38]. - The company’s interest expense decreased to $129,877,000 in 2025 from $149,313,000 in 2024, a reduction of 13.0%[32]. Segment Performance - The Flight Support Group's net sales increased 21% to a record $834.4 million in the fourth quarter of fiscal 2025, up from $691.8 million in the fourth quarter of fiscal 2024[12]. - The Electronic Technologies Group's net sales increased 14% to a record $384.8 million in the fourth quarter of fiscal 2025, up from $336.2 million in the fourth quarter of fiscal 2024[16]. - The Flight Support Group's net sales for the three months ended October 31, 2025, were $834,372,000, up 20.6% from $691,780,000 in 2024[30]. Future Outlook - Looking ahead to fiscal 2026, the company anticipates net sales growth across both the Flight Support Group and Electronic Technologies Group, driven by organic growth and recent acquisitions[10]. - The company completed five acquisitions in fiscal 2025, contributing to net sales and earnings growth[9]. Dividends - The company declared a semiannual cash dividend of $0.12 per share, marking the 95th consecutive semiannual cash dividend since 1979[9].
HEICO (HEI_A) - 2025 Q4 - Annual Results