HEICO Corporation (HEI-A) Balance Sheet
HEI-A balance sheet, FY2025
October 31, 2025 · U.S. dollars$8.50B assets = $4.12B liabilities + $4.38B equity
Both columns are drawn to the same scale: what HEI-A owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HEI-A financial health
Current ratio2.83
Comfortable · current assets cover current liabilities 2.83×
Debt / equity0.51
Moderate leverage · $0.51 of debt for each $1 of equity
Equity / assets50.6%
Equity-funded · of assets funded by shareholders
Cash / debt9.9%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles60.4%
Mostly intangible · of total assets
Descriptive bands, not a rating. Fiscal FY2025.
HEI-A balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.04BFY2016 | $8.50BFY2025 | +17.2%/yr | |
| Total liabilities | $851.2MFY2016 | $4.12BFY2025 | +19.2%/yr | |
| Shareholders’ equity | $963.4MFY2016 | $4.31BFY2025 | +18.1%/yr | |
| Cash & short-term investments | $43.0MFY2016 | $217.8MFY2025 | +19.8%/yr | |
| Total debt | $458.2MFY2016 | $2.19BFY2025 | +19.0%/yr | |
| Net cash (debt) | −$415.3MFY2016 | −$1.98BFY2025 | −$1.6B | |
| Working capital | $369.8MFY2016 | $1.52BFY2025 | +$1.2B | |
| Book value per share | $7.24FY2016 | $30.58FY2025 | +17.4%/yr | |
| Current ratio | 2.72FY2016 | 2.83FY2025 | +0.11 | |
| Debt / equity | 0.48FY2016 | 0.51FY2025 | +0.03 | |
| Shares outstanding | 133.1MFY2016 | 140.8MFY2025 | +0.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HEI-A assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
HEI-A liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
HEI-A debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HEI-A balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $217.8M | $162.1M | $171.0M | $139.5M | $108.3M | $406.9M | $57.0M | $59.6M | $52.1M | $43.0M |
| Cash & equivalents | $217.8M | $162.1M | $171.0M | $139.5M | $108.3M | $406.9M | $57.0M | $59.6M | $52.1M | $43.0M |
| Receivables | $756.9M | $650.7M | $620.8M | $388.8M | $325.0M | $270.9M | $317.5M | $251.5M | $222.5M | $202.2M |
| Inventory | $1.30B | $1.17B | $1.01B | $582.5M | $478.1M | $463.2M | $420.3M | $401.6M | $343.6M | $286.3M |
| Other current assets | $86.4M | $78.5M | $49.8M | $41.9M | $26.0M | $24.7M | $19.0M | $21.2M | $13.7M | $52.7M |
| Total current assets | $2.36B | $2.06B | $1.86B | $1.15B | $937.4M | $1.17B | $813.7M | $733.8M | $631.9M | $584.2M |
| Property, plant & equipment (net) | $431.7M | $339.0M | $321.8M | $225.9M | $193.6M | $168.8M | $173.3M | $154.7M | $129.9M | $121.6M |
| Goodwill & intangible assets | $5.13B | $4.72B | $4.63B | $2.41B | $2.03B | $1.96B | $1.82B | $1.62B | $1.62B | $1.23B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $579.3M | $476.4M | $386.3M | $311.1M | $334.7M | $251.0M | $162.7M | $143.7M | $131.3M | $101.1M |
| Total assets | $8.50B | $7.59B | $7.20B | $4.10B | $3.50B | $3.55B | $2.97B | $2.65B | $2.51B | $2.04B |
| Liabilities | ||||||||||
| Accounts payable | $231.0M | $198.4M | $205.9M | $116.6M | $85.5M | $76.2M | $106.2M | $107.2M | $89.7M | $73.3M |
| Short-term debt | $29.1M | $27.5M | $38.3M | $16.3M | $15.4M | $15.2M | $906,000 | $859,000 | $451,000 | $411,000 |
| Deferred revenue | $79.5M | $83.9M | $87.6M | $58.8M | $32.7M | $25.6M | $23.8M | $28.3M | $29.2M | $32.1M |
| Total current liabilities | $832.0M | $663.9M | $665.3M | $420.9M | $294.9M | $241.2M | $289.1M | $282.4M | $249.4M | $214.4M |
| Long-term debt | $2.16B | $2.23B | $2.46B | $288.6M | $235.0M | $738.8M | $561.0M | $531.6M | $673.5M | $457.8M |
| Lease obligations | $25.7M | $23.4M | $20.5M | $14.7M | $13.9M | $14.2M | — | — | — | — |
| Other long-term liabilities | $1.12B | $1.01B | $876.3M | $410.1M | $419.0M | $335.9M | $236.1M | $204.3M | $210.1M | $179.0M |
| Total liabilities | $4.12B | $3.90B | $4.00B | $1.12B | $948.9M | $1.32B | $1.09B | $1.02B | $1.13B | $851.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.3M | $1.3M | $845,000 | $673,000 |
| Retained earnings (deficit) | $3.65B | $3.06B | $2.61B | $2.25B | $1.95B | $1.69B | $1.40B | $1.09B | $844.2M | $681.7M |
| Accumulated other comprehensive income | $5.6M | −$26.1M | −$40.2M | −$46.5M | −$8.6M | −$9.1M | −$16.7M | −$15.3M | −$10.6M | −$25.3M |
| Minority interest | $73.9M | $60.5M | $47.2M | $42.2M | $33.9M | — | $28.1M | $104.8M | $87.2M | $84.3M |
| Total shareholders' equity | $4.31B | $3.64B | $3.15B | $2.61B | $2.26B | $1.98B | $1.67B | $1.40B | $1.16B | $963.4M |
| Key figures | ||||||||||
| Total debt | $2.19B | $2.25B | $2.50B | $304.9M | $250.4M | $754.0M | $562.0M | $532.5M | $674.0M | $458.2M |
| Net cash (debt) | −$1.98B | −$2.09B | −$2.33B | −$165.4M | −$142.1M | −$347.2M | −$505.0M | −$472.9M | −$621.9M | −$415.3M |
| Working capital | $1.52B | $1.40B | $1.19B | $731.9M | $642.5M | $924.5M | $524.6M | $451.4M | $382.5M | $369.8M |
| Tangible book value | −$827.7M | −$1.08B | −$1.49B | $200.4M | $230.4M | $18.0M | −$152.9M | −$222.9M | −$458.3M | −$269.2M |
| Book value per share | $30.58 | $25.94 | $22.65 | $18.88 | $16.42 | $14.42 | $12.13 | $10.23 | $8.56 | $7.24 |
| Shares outstanding | 140.8M | 140.2M | 138.9M | 138.0M | 137.9M | 137.3M | 137.3M | 136.7M | 135.6M | 133.1M |
| Current ratio | 2.83 | 3.11 | 2.79 | 2.74 | 3.18 | 4.83 | 2.81 | 2.60 | 2.53 | 2.72 |
| Quick ratio | 1.17 | 1.22 | 1.19 | 1.26 | 1.47 | 2.81 | 1.30 | 1.10 | 1.10 | 1.14 |
| Debt / equity | 0.51 | 0.62 | 0.79 | 0.12 | 0.11 | 0.38 | 0.34 | 0.38 | 0.58 | 0.48 |
| Equity / assets | 50.6% | 47.9% | 43.7% | 63.6% | 64.7% | 55.8% | 56.1% | 52.7% | 46.2% | 47.2% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $241.0M | $210.3M | $261.0M | $217.8M | $261.9M | $242.3M | $165.5M | $162.1M | $202.9M | $204.2M | $196.3M | $171.0M |
| Cash & equivalents | $241.0M | $210.3M | $261.0M | $217.8M | $261.9M | $242.3M | $165.5M | $162.1M | $202.9M | $204.2M | $196.3M | $171.0M |
| Receivables | $870.8M | $866.5M | $768.9M | $756.9M | $730.6M | $716.1M | $641.5M | $650.7M | $630.2M | $614.5M | $580.6M | $620.8M |
| Inventory | $1.45B | $1.41B | $1.34B | $1.30B | $1.31B | $1.24B | $1.22B | $1.17B | $1.12B | $1.09B | $1.07B | $1.01B |
| Other current assets | $165.9M | $149.1M | $111.3M | $86.4M | $83.2M | $80.5M | $77.1M | $78.5M | $69.1M | $61.9M | $66.7M | $49.8M |
| Total current assets | $2.73B | $2.64B | $2.48B | $2.36B | $2.39B | $2.28B | $2.10B | $2.06B | $2.03B | $1.97B | $1.91B | $1.86B |
| Property, plant & equipment (net) | $478.3M | $462.8M | $449.0M | $431.7M | $437.6M | $359.3M | $348.8M | $339.0M | $330.3M | $326.7M | $327.7M | $321.8M |
| Goodwill & intangible assets | $6.13B | $5.91B | $5.55B | $5.13B | $5.16B | $4.96B | $4.94B | $4.72B | $4.59B | $4.62B | $4.66B | $4.63B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $599.7M | $580.4M | $567.4M | $579.3M | $548.3M | $485.7M | $501.1M | $476.4M | $473.4M | $451.6M | $439.9M | $386.3M |
| Total assets | $9.94B | $9.59B | $9.04B | $8.50B | $8.53B | $8.09B | $7.89B | $7.59B | $7.42B | $7.37B | $7.34B | $7.20B |
| Liabilities | ||||||||||||
| Accounts payable | $297.1M | $293.7M | $241.0M | $231.0M | $230.6M | $230.4M | $208.1M | $198.4M | $207.5M | $194.9M | $194.9M | $205.9M |
| Short-term debt | $3.5M | $3.4M | $3.4M | $29.1M | $3.7M | $3.8M | $4.0M | $27.5M | $4.2M | $4.4M | $4.7M | $38.3M |
| Deferred revenue | — | $132.1M | $102.7M | $79.5M | — | — | — | $83.9M | −$207.5M | $76.7M | $96.1M | $87.6M |
| Total current liabilities | $1.00B | $903.6M | $810.6M | $832.0M | $711.3M | $664.9M | $618.3M | $663.9M | $614.7M | $559.2M | $604.1M | $665.3M |
| Long-term debt | $2.54B | $2.58B | $2.50B | $2.16B | $2.44B | $2.27B | $2.35B | $2.23B | $2.25B | $2.39B | $2.50B | $2.46B |
| Lease obligations | — | — | — | $25.7M | — | — | — | $23.4M | — | — | — | $20.5M |
| Other long-term liabilities | $753.0M | $713.2M | $683.1M | $1.12B | $726.4M | $681.2M | $687.9M | $1.01B | $626.7M | $610.2M | $553.7M | $876.3M |
| Total liabilities | $4.29B | $4.20B | $4.00B | $4.12B | $3.88B | $3.62B | $3.66B | $3.90B | $3.50B | $3.55B | $3.65B | $4.00B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M |
| Retained earnings (deficit) | $4.22B | $4.03B | $3.82B | $3.65B | $3.49B | $3.33B | $3.18B | $3.06B | $2.95B | $2.83B | $2.71B | $2.61B |
| Accumulated other comprehensive income | −$4.6M | $7.5M | $18.2M | $5.6M | $882,000 | −$411,000 | −$53.6M | −$26.1M | −$28.9M | −$35.7M | −$26.0M | −$40.2M |
| Minority interest | $77.2M | $619.5M | $543.0M | $73.9M | $508.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $4.95B | $4.77B | $4.50B | $4.31B | $4.14B | $3.97B | $3.75B | $3.64B | $3.54B | $3.39B | $3.27B | $3.15B |
| Key figures | ||||||||||||
| Total debt | $2.54B | $2.59B | $2.51B | $2.19B | $2.45B | $2.28B | $2.35B | $2.25B | $2.26B | $2.39B | $2.50B | $2.50B |
| Net cash (debt) | −$2.30B | −$2.38B | −$2.25B | −$1.98B | −$2.19B | −$2.04B | −$2.19B | −$2.09B | −$2.06B | −$2.19B | −$2.30B | −$2.33B |
| Working capital | $1.72B | $1.73B | $1.67B | $1.52B | $1.67B | $1.62B | $1.48B | $1.40B | $1.41B | $1.41B | $1.31B | $1.19B |
| Tangible book value | −$1.19B | −$1.14B | −$1.04B | −$827.7M | −$1.02B | −$996.2M | −$1.19B | −$1.08B | −$1.05B | −$1.23B | −$1.39B | −$1.49B |
| Book value per share | $35.02 | $33.83 | $31.93 | $30.52 | $29.38 | $28.22 | $26.67 | $25.88 | $25.23 | $24.20 | $23.35 | $22.51 |
| Shares outstanding | 141.3M | 141.1M | 141.0M | 141.1M | 140.9M | 140.6M | 140.5M | 140.5M | 140.3M | 140.1M | 139.9M | 139.8M |
| Current ratio | 2.72 | 2.92 | 3.06 | 2.83 | 3.35 | 3.43 | 3.40 | 3.11 | 3.30 | 3.52 | 3.17 | 2.79 |
| Quick ratio | 1.11 | 1.19 | 1.27 | 1.17 | 1.40 | 1.44 | 1.31 | 1.22 | 1.36 | 1.46 | 1.29 | 1.19 |
| Debt / equity | 0.51 | 0.54 | 0.56 | 0.51 | 0.59 | 0.57 | 0.63 | 0.62 | 0.64 | 0.71 | 0.77 | 0.79 |
| Equity / assets | 49.8% | 49.7% | 49.8% | 50.6% | 48.5% | 49.0% | 47.5% | 47.9% | 47.7% | 46.0% | 44.5% | 43.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 22, 2025); data from EODHD.
HEI-A financial position
At the end of fiscal 2025 (October 31, 2025), HEICO had total assets of $8.5 billion (up 12.0% from a year earlier), total liabilities of $4.1 billion and shareholders' equity of $4.3 billion. It held $217.8 million in cash and short-term investments against $2.2 billion of debt, net debt of $2.0 billion. Its current ratio was 2.83. In the latest quarter (ended July 31, 2026) total assets were $9.9 billion and equity $4.9 billion.
Related: HEI-A income statement, HEI-A cash flow statement, HEI-A key metrics. See the HEI-A stock overview for the latest quote and news.
HEI-A balance sheet FAQ
What are HEICO's total assets?
HEICO reported total assets of $8.5 billion at the end of fiscal 2025 (October 31, 2025), compared with $7.6 billion a year earlier.
How much debt does HEICO have?
HEICO had $2.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.51.
How much cash does HEICO have?
HEICO held $217.8 million in cash and short-term investments at the end of fiscal 2025; with $2.2 billion of debt that is net debt of $2.0 billion.
What is HEICO's book value?
HEICO's shareholders' equity (book value) was $4.3 billion at the end of fiscal 2025, or $30.58 per share.
What is HEICO's current ratio?
HEICO had current assets of $2.4 billion and current liabilities of $832.0 million, a current ratio of 2.83 (it can cover its short-term obligations).
How much goodwill does HEICO have?
HEICO carried $5.1 billion of goodwill and intangible assets, 60.4% of total assets, at the end of fiscal 2025.