HEICO Corporation
Q4 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: +1.27%.
Did HEI-A Beat Earnings? Q4 2025 Results
HEICO capped fiscal 2025 with a record-setting fourth quarter, posting earnings per share of $1.33 against a consensus estimate of $1.21 — a beat of nearly 10% — while revenue climbed 19.3% year-over-year to $1.21 billion, ahead of the $1.17 billion analysts had expected. The standout driver was the Flight Support Group, which notched its 21st consecutive quarter of sequential net sales growth, with segment revenue rising 21% to $834.37 million on 16% organic growth as the commercial aerospace aftermarket continued to generate strong demand for repair, overhaul, and specialty parts. Operating margins expanded to 23.1% from 21.6% a year ago, reflecting favorable product mix and the operating leverage that HEICO's niche aftermarket model consistently produces — a contrast to the mixed results seen across <a href="https://247wallst.com/investing/2025/10/29/kraft-heinz-shares-fall-after-mixed-q3-earnings/">other large industrials this earnings season</a>. Full-year operating cash flow surged 39% to $934.27 million, helping drive the net debt-to-EBITDA ratio down to 1.60x. Looking ahead, management expects continued net sales growth in both segments through fiscal 2026, supported by organic demand and contributions from five acquisitions completed during the year.
- Strong 16% quarterly organic net sales growth in Flight Support Group across all product lines
- 7% organic net sales growth in Electronic Technologies Group driven by defense, space, other electronics, and aerospace products
- Improved gross profit margin in Flight Support Group from repair and overhaul parts/services and specialty products mix
- Contributions from five fiscal 2025 acquisitions (three in ETG, two in FSG)
- Continued strength in commercial aerospace aftermarket — 21 consecutive quarters of sequential net sales growth at FSG
- SG&A expense efficiencies realized from net sales growth
“HEICO did it again and we are extremely pleased to report record quarterly net income, operating income and net sales, reflecting robust double-digit organic net sales growth and contributions by our profitable fiscal 2025 acquisitions. These results reflect continuing very strong organic net sales growth in both of our reporting segments. We are beyond proud of HEICO's team, who generated our organic and acquired growth, by continuing our 35-year track record of exceptional performance. These results stem from hard work and actions taken over decades, not just the past year, and demonstrates the value creation of HEICO's long-term focus in everything we do.”
HEICO CEO, on the earnings call
Forward Guidance & Outlook
For fiscal 2026, HEICO anticipates net sales growth across both the Flight Support Group and Electronic Technologies Group, driven by organic growth from increased demand for the majority of its products as well as growth through recent acquisitions. The company will continue to pursue selective acquisition opportunities and maintain disciplined financial management focused on creating long-term shareholder value through strategic acquisitions and organic expansion while maintaining financial resilience and flexibility.
HEI-A YoY Financials
HEI-A Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.