HEICO Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $690.4M | $514.1M | $403.6M | $351.7M | $304.2M | $314.0M | $327.9M | $259.2M |
| Depreciation & Amortization | $196.1M | $175.3M | $130.0M | $96.3M | $93.0M | $88.6M | $83.5M | $77.2M |
| Depreciation | $54.4M | $49.1M | $40.3M | $30.3M | $27.8M | $27.1M | $25.8M | $23.2M |
| Amortization | $137.9M | $122.3M | $85.9M | $62.5M | $61.3M | $57.4M | $53.7M | $50.1M |
| Stock-Based Compensation | — | — | — | — | — | — | — | — |
| Net Cash from Operating Activities | $934.3M | $672.4M | $448.7M | $467.9M | $444.1M | $409.1M | $437.4M | $328.5M |
| Investing Activities | ||||||||
| Capital Expenditures | $72.9M | $58.3M | $49.4M | $32.0M | $36.2M | $22.9M | $28.9M | $41.9M |
| Business Acquisitions | $629.8M | $219.3M | $2.42B | $347.3M | $136.5M | $163.9M | $240.8M | $59.8M |
| Net Cash from Investing Activities | $-731.7M | $-293.2M | $-2.48B | $-395.8M | $-183.5M | $-199.0M | $-280.6M | $-113.5M |
| Financing Activities | ||||||||
| Dividends Paid | $32.0M | $29.1M | $27.4M | $24.5M | $23.0M | $21.6M | $18.7M | $15.4M |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-150.7M | $-389.4M | $2.07B | $-33.8M | $-559.0M | $137.7M | $-159.7M | $-207.5M |
| Net Change in Cash | $55.7M | $-8.9M | $31.5M | $31.2M | $-298.6M | $349.9M | $-2.6M | $7.5M |
| Free Cash Flow | $861.4M | $614.1M | $399.3M | $435.9M | $407.9M | $386.2M | $408.4M | $286.6M |