Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☒						QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

						For the quarterly period ended January 31, 2025

						OR

☐						TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

						For the transition period from ______ to _______

Commission File Number: 001-04604

HEICO CORPORATION

(Exact name of registrant as specified in its charter)


Florida						65-0341002
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

3000 Taft Street, Hollywood, Florida						33021
(Address of principal executive offices)						(Zip Code)

(954) 987-4000

(Registrant’s telephone number, including area code)

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 (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐

Smaller reporting company ☐ 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. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The number of shares outstanding of each of the registrant’s classes of common stock as of February 26, 2025 is as follows:


Common Stock, $.01 par value	55,024,967	shares
Class A Common Stock, $.01 par value	83,922,279	shares

Index

HEICO CORPORATION

INDEX TO QUARTERLY REPORT ON FORM 10-Q


			Page
Part I.	Financial Information

	Item 1.	Financial Statements:

		Condensed Consolidated Balance Sheets (unaudited) as of January 31, 2025 and October 31, 2024	2

		Condensed Consolidated Statements of Operations (unaudited) for the three months ended January 31, 2025 and 2024	3

		Condensed Consolidated Statements of Comprehensive Income (unaudited) for the three months ended January 31, 2025 and 2024	4

		Condensed Consolidated Statements of Shareholders’ Equity (unaudited) for the three months ended January 31, 2025 and 2024	5

		Condensed Consolidated Statements of Cash Flows (unaudited) for the three months ended January 31, 2025 and 2024	6

		Notes to Condensed Consolidated Financial Statements (unaudited)	7

	Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	24

	Item 3.	Quantitative and Qualitative Disclosures About Market Risk	33

	Item 4.	Controls and Procedures	33

Part II.	Other Information

	Item 5.	Other Events	34

	Item 6.	Exhibits	34

Signatures			36

Index

PART I. FINANCIAL INFORMATION; Item 1. FINANCIAL STATEMENTS

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

(in thousands, except per share data)


	January 31, 2025	October 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$165,467	$162,103
Accounts receivable, net	523,268	538,487
Contract assets	118,213	112,235
Inventories, net	1,218,711	1,170,949
Prepaid expenses and other current assets	77,059	78,518
Total current assets	2,102,718	2,062,292

Property, plant and equipment, net	348,838	339,034
Goodwill	3,491,472	3,380,295
Intangible assets, net	1,446,616	1,334,774
Other assets	501,067	476,427
Total assets	$7,890,711	$7,592,822

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$3,950	$4,107
Trade accounts payable	208,141	198,429
Accrued expenses and other current liabilities	359,531	427,781
Income taxes payable	46,717	33,534
Total current liabilities	618,339	663,851

Long-term debt, net of current maturities	2,349,681	2,225,267
Deferred income taxes	108,780	114,156
Other long-term liabilities	579,100	525,986
Total liabilities	3,655,900	3,529,260

Commitments and contingencies (Note 11)

Redeemable noncontrolling interests (Note 3)	424,083	366,156

Shareholders’ equity:
Preferred Stock, $.01 par value per share; 10,000 shares authorized; none issued	—	—
Common Stock, $.01 par value per share; 150,000 shares authorized; 55,025 and 54,986 shares issued and outstanding	550	550
Class A Common Stock, $.01 par value per share; 150,000 shares authorized; 83,920 and 83,827 shares issued and outstanding	839	838
Capital in excess of par value	618,622	599,399
Deferred compensation obligation	7,272	7,272
HEICO stock held by irrevocable trust	(7,272)	(7,272)
Accumulated other comprehensive loss	(53,586)	(26,076)
Retained earnings	3,180,102	3,062,166
Total HEICO shareholders’ equity	3,746,527	3,636,877
Noncontrolling interests	64,201	60,529
Total shareholders’ equity	3,810,728	3,697,406
Total liabilities and equity	$7,890,711	$7,592,822

The accompanying notes are an integral part of these condensed consolidated financial statements.

Index

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS – UNAUDITED

(in thousands, except per share data)


	Three months ended January 31,
	2025	2024

Net sales	$1,030,222	$896,363

Operating costs and expenses:
Cost of sales	624,560	549,594
Selling, general and administrative expenses	178,857	166,559

Total operating costs and expenses	803,417	716,153

Operating income	226,805	180,210

Interest expense	(32,458)	(38,607)
Other income	919	679

Income before income taxes and noncontrolling interests	195,266	142,282

Income tax expense	13,700	16,800

Net income from consolidated operations	181,566	125,482

Less: Net income attributable to noncontrolling interests	13,611	10,784

Net income attributable to HEICO	$167,955	$114,698

Net income per share attributable to HEICO shareholders:
Basic	$1.21	$.83
Diluted	$1.20	$.82

Weighted average number of common shares outstanding:
Basic	138,837	138,265
Diluted	140,484	139,893

The accompanying notes are an integral part of these condensed consolidated financial statements.

Index

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF

COMPREHENSIVE INCOME – UNAUDITED

(in thousands)


	Three months ended January 31,
	2025	2024

Net income from consolidated operations	$181,566	$125,482
Other comprehensive (loss) income:
Foreign currency translation adjustments	(28,814)	14,761
Amortization of unrealized loss on defined benefit pension plan, net of tax	1	13
Total other comprehensive (loss) income	(28,813)	14,774
Comprehensive income from consolidated operations	152,753	140,256
Net income attributable to noncontrolling interests	13,611	10,784
Foreign currency translation adjustments attributable to noncontrolling interests	(1,303)	556
Comprehensive income attributable to noncontrolling interests	12,308	11,340
Comprehensive income attributable to HEICO	$140,445	$128,916

The accompanying notes are an integral part of these condensed consolidated financial statements.

Index

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - UNAUDITED

(in thousands, except per share data)


		HEICO Shareholders' Equity
	Redeemable Noncontrolling Interests	Common Stock	Class A Common Stock	Capital in Excess of Par Value	Deferred Compensation Obligation	HEICO Stock Held by Irrevocable Trust	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interests	Total Shareholders' Equity
Balances as of October 31, 2024	$366,156	$550	$838	$599,399	$7,272	($7,272)	($26,076)	$3,062,166	$60,529	$3,697,406
Comprehensive income	7,573	—	—	—	—	—	(27,510)	167,955	4,735	145,180
Cash dividends ($.11 per share)	—	—	—	—	—	—	—	(15,272)	—	(15,272)
Issuance of common stock for an acquisition	—	—	1	10,122	—	—	—	—	—	10,123
Issuance of common stock to HEICO Savings and Investment Plan	—	—	—	2,679	—	—	—	—	—	2,679
Share-based compensation expense	—	—	—	4,671	—	—	—	—	—	4,671
Proceeds from stock option exercises	—	—	—	1,597	—	—	—	—	—	1,597
Redemptions of common stock related to stock option exercises	—	—	—	(95)	—	—	—	—	—	(95)
Noncontrolling interests assumed related to acquisitions	27,912	—	—	—	—	—	—	—	—	—
Distributions to noncontrolling interests	(8,886)	—	—	—	—	—	—	—	(1,063)	(1,063)
Acquisitions of noncontrolling interests	(3,258)	—	—	—	—	—	—	—	—	—
Adjustments to redemption amount of redeemable noncontrolling interests	34,586	—	—	—	—	—	—	(34,586)	—	(34,586)
Other	—	—	—	249	—	—	—	(161)	—	88
Balances as of January 31, 2025	$424,083	$550	$839	$618,622	$7,272	($7,272)	($53,586)	$3,180,102	$64,201	$3,810,728


		HEICO Shareholders' Equity
	Redeemable Noncontrolling Interests	Common Stock	Class A Common Stock	Capital in Excess of Par Value	Deferred Compensation Obligation	HEICO Stock Held by Irrevocable Trust	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interests	Total Shareholders' Equity
Balances as of October 31, 2023	$364,807	$547	$835	$578,809	$6,318	($6,318)	($40,180)	$2,605,984	$47,156	$3,193,151
Comprehensive income	7,996	—	—	—	—	—	14,218	114,698	3,344	132,260
Cash dividends ($.10 per share)	—	—	—	—	—	—	—	(13,831)	—	(13,831)
Issuance of common stock to HEICO Savings and Investment Plan	—	—	—	2,576	—	—	—	—	—	2,576
Share-based compensation expense	—	—	—	4,881	—	—	—	—	—	4,881
Proceeds from stock option exercises	—	1	1	2,252	—	—	—	—	—	2,254
Redemptions of common stock related to stock option exercises	—	—	—	(601)	—	—	—	—	—	(601)
Distributions to noncontrolling interests	(8,467)	—	—	—	—	—	—	—	(299)	(299)
Acquisitions of noncontrolling interests	(1,056)	—	—	(1,156)	—	—	—	—	—	(1,156)
Adjustments to redemption amount of redeemable noncontrolling interests	1,443	—	—	—	—	—	—	(1,443)	—	(1,443)
Other	1,142	—	—	(873)	—	—	—	(280)	—	(1,153)
Balances as of January 31, 2024	$365,865	$548	$836	$585,888	$6,318	($6,318)	($25,962)	$2,705,128	$50,201	$3,316,639

The accompanying notes are an integral part of these condensed consolidated financial statements.

HEICO CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(in thousands)


	Three months ended January 31,
	2025	2024
Operating Activities:
Net income from consolidated operations	$181,566	$125,482
Adjustments to reconcile net income from consolidated operations to net cash provided by operating activities:
Depreciation and amortization	46,225	43,505
Employer contributions to HEICO Savings and Investment Plan	5,473	5,665
Share-based compensation expense	4,671	4,881
Increase in accrued contingent consideration, net	3,288	1,095
Deferred income tax benefit	(7,052)	(3,759)
Payment of contingent consideration	(2,190)	(6,203)
Changes in operating assets and liabilities, net of acquisitions:
Decrease in accounts receivable	20,062	38,940
(Increase) decrease in contract assets	(5,949)	4,560
Increase in inventories	(36,207)	(49,846)
Increase in prepaid expenses and other current assets	(955)	(15,784)
Increase (decrease) in trade accounts payable	10,389	(11,609)
Decrease in accrued expenses and other current liabilities	(63,898)	(50,450)
Increase in income taxes payable	16,887	12,345
Net changes in other long-term liabilities and assets related to HEICO Leadership Compensation Plan	13,022	14,753
Other	17,702	(1,923)
Net cash provided by operating activities	203,034	111,652

Investing Activities:
Acquisitions, net of cash acquired	(254,763)	(46,208)
Capital expenditures	(17,335)	(13,377)
Investments related to HEICO Leadership Compensation Plan	(14,600)	(12,710)
Other	(1,297)	1,156
Net cash used in investing activities	(287,995)	(71,139)

Financing Activities:
Borrowings on revolving credit facility	145,000	50,000
Payments on revolving credit facility	(20,000)	(15,000)
Cash dividends paid	(15,272)	(13,831)
Distributions to noncontrolling interests	(10,236)	(8,766)
Payment of contingent consideration	(5,954)	(13,797)
Acquisitions of noncontrolling interests	(3,258)	(2,212)
Payments on short-term debt, net	—	(13,924)
Redemptions of common stock related to stock option exercises	(95)	(601)
Proceeds from stock option exercises	1,597	2,254
Other	(1,070)	(852)
Net cash provided by (used in) financing activities	90,712	(16,729)

Effect of exchange rate changes on cash	(2,387)	1,491

Net increase in cash and cash equivalents	3,364	25,275
Cash and cash equivalents at beginning of year	162,103	171,048
Cash and cash equivalents at end of period	$165,467	$196,323

The accompanying notes are an integral part of these condensed consolidated financial statements.

Index

HEICO CORPORATION AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – UNAUDITED

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of HEICO Corporation and its subsidiaries (collectively, “HEICO,” or the “Company”) have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q. Therefore, the condensed consolidated financial statements do not include all information and footnotes normally included in annual consolidated financial statements and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2024. The October 31, 2024 Condensed Consolidated Balance Sheet has been derived from the Company’s audited consolidated financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments (consisting principally of normal recurring accruals) necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations, statements of comprehensive income, statements of shareholders' equity and statements of cash flows for such interim periods presented. The results of operations for the three months ended January 31, 2025 are not necessarily indicative of the results which may be expected for the entire fiscal year.

The Company has two operating segments: the Flight Support Group (“FSG”), consisting of HEICO Aerospace Holdings Corp. and HEICO Flight Support Corp. ("HFSC") and their respective subsidiaries; and the Electronic Technologies Group (“ETG”), consisting of HEICO Electronic Technologies Corp. and its subsidiaries.

New Accounting Pronouncements

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. The ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment's profit or loss in assessing segment performance and deciding how to allocate resources. Additionally, ASU 2023-07 requires all segment profit or loss and assets disclosures to be provided on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, or in fiscal 2025 for HEICO, and interim periods within fiscal years beginning one year later. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures.

Index

In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires disclosure of specific categories in the annual effective tax rate reconciliation table and further disaggregation for reconciling items that meet a quantitative threshold. The ASU also requires the disaggregation of income taxes paid by jurisdiction. ASU 2023-09 may be applied either prospectively or retrospectively and is effective for fiscal years beginning after December 15, 2024, or in fiscal 2026 for HEICO. Early adoption is permitted. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures.

In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires more detailed disclosures about specified categories of expenses (including purchases of inventory, employee compensation, intangible asset amortization, and depreciation) included in certain expense captions presented on the face of the income statement (such as cost of sales and SG&A expenses). ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, or in fiscal 2028 for HEICO, and interim reporting periods within fiscal years beginning one year later. Early adoption is permitted. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures.

2. ACQUISITIONS

In November 2024, the Company, through HEICO Electronic, acquired 70% of the stock of SVM Private Limited (“SVM”). SVM designs and manufactures high-performance electronic passive components and subsystems, including critical magnetic components and busbars, that serve the healthcare and industrial end-markets. The remaining 30% interest continues to be owned by a certain member of SVM's management team. See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information. The purchase price of this acquisition was paid in cash using cash provided by operating activities and is not material or significant to the Company's condensed consolidated financial statements.

In December 2024, the Company, through a subsidiary of HFSC, entered into an exclusive license agreement and acquired certain assets to support the Boeing 777 AIMS (Airplane Information Management System) and Boeing 737NG/P-8/E-7 VIA (Versatile Integrated Avionics) product lines from Honeywell International. Honeywell's AIMS for the Boeing 777 and VIA for the Boeing 737NG/P-8/E-7 are integrated avionics systems providing cockpit displays, maintenance diagnostics, and flight management functions. The transaction provides the HFSC subsidiary with the exclusive capability to produce, sell, and repair Boeing 777 AIMS and Boeing 737NG/P-8/E-7 VIA hardware systems. The purchase price of this acquisition was paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, and is not material or significant to the Company's condensed consolidated financial statements.

Index

In January 2025, the Company, through a subsidiary of HFSC, acquired 90% of the membership interests of Millennium International, LLC ("Millennium"). Millennium is an FAA and EASA-certified Part 145 Repair Station, specializing in the repair and support of new generation and legacy avionics systems and components. Millennium offers comprehensive repair, overhaul, retrofit, and exchange services to its customers that include aircraft OEMs, fleet operators, repair businesses, and avionics brokers. The remaining 10% interest continues to be owned by certain members of Millennium’s management team. See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information. The total consideration includes an accrual of $11.5 million as of the acquisition date representing the estimated fair value of contingent consideration the Company may be obligated to pay should Millennium meet a certain earnings objective following the acquisition. See Note 8, Fair Value Measurements, for additional information regarding the Company’s contingent consideration obligation. The purchase price of this acquisition was principally paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, as well as through the issuance of 53,186 shares of HEICO Class A Common Stock.

The allocation of the total consideration for the fiscal 2025 acquisitions to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed is preliminary until the Company obtains final information regarding their fair values. However, the Company does not expect any adjustment to such allocation to be material to the Company's consolidated financial statements. The operating results of the fiscal 2025 acquisitions were included in the Company’s results of operations as of each effective acquisition date. The amount of net sales and earnings of the fiscal 2025 acquisitions included in the Condensed Consolidated Statement of Operations for the three months ended January 31, 2025 is not material. Had the fiscal 2025 acquisitions occurred as of November 1, 2023, net sales, net income from consolidated operations, net income attributable to HEICO, and basic and diluted net income per share attributable to HEICO shareholders on a pro forma basis for the three months ended January 31, 2025 and 2024 would not have been materially different than the reported amounts.

3. SELECTED FINANCIAL STATEMENT INFORMATION

Accounts Receivable


(in thousands)	January 31, 2025	October 31, 2024
Accounts receivable	$533,095	$550,281
Less: Allowance for doubtful accounts	(9,827)	(11,794)
Accounts receivable, net	$523,268	$538,487

Index

Inventories


(in thousands)	January 31, 2025	October 31, 2024
Finished products	$700,599	$684,578
Work in process	101,670	99,107
Materials, parts, assemblies and supplies	416,442	387,264
Inventories, net of valuation reserves	$1,218,711	$1,170,949

Property, Plant and Equipment


(in thousands)	January 31, 2025	October 31, 2024
Land	$19,744	$19,974
Buildings and improvements	222,272	217,554
Machinery, equipment and tooling	438,350	422,500
Construction in progress	36,287	35,432
	716,653	695,460
Less: Accumulated depreciation and amortization	(367,815)	(356,426)
Property, plant and equipment, net	$348,838	$339,034

Accrued Customer Rebates and Credits

The aggregate amount of accrued customer rebates and credits included within accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets was $28.3 million as of January 31, 2025 and $24.3 million as of October 31, 2024. The total customer rebates and credits deducted within net sales for the three months ended January 31, 2025 and 2024 was $4.3 million and $3.5 million, respectively.

Research and Development Expenses

The amount of new product research and development ("R&D") expenses included in cost of sales for the three months ended January 31, 2025 and 2024 is as follows (in thousands):


	Three months ended January 31,
	2025	2024
R&D expenses	$27,605	$25,096

Index

Redeemable Noncontrolling Interests

The holders of equity interests in certain of the Company's subsidiaries have rights ("Put Rights") that may be exercised on varying dates causing the Company to purchase their equity interests through fiscal 2034. The Put Rights, all of which relate either to common shares or membership interests in limited liability companies, provide that the cash consideration to be paid for their equity interests (the "Redemption Amount") be at fair value or a formula that management intended to reasonably approximate fair value based solely on a multiple of future earnings over a measurement period. Management's estimate of the aggregate Redemption Amount of all Put Rights that the Company could be required to pay is as follows (in thousands):


	January 31, 2025	October 31, 2024
Redeemable at fair value	$337,121	$306,143
Redeemable based on a multiple of future earnings	86,962	60,013
Redeemable noncontrolling interests	$424,083	$366,156

As discussed in Note 2, Acquisitions, the Company, through HEICO Electronic, acquired 70% of the stock of SVM in November 2024. As part of the shareholders' agreement, the noncontrolling interest holder has the right to cause the Company to purchase their equity interest beginning in fiscal 2029, or sooner under certain conditions, and the Company has the right to purchase the same equity interest over the same period.

During fiscal 2022, the holder of a 19.9% noncontrolling equity interest in a subsidiary of the FSG that was acquired in fiscal 2015 exercised their option to cause the Company to purchase their noncontrolling interest over a four-year period ending in fiscal 2026. In December 2024, the Company acquired an additional one-fourth of such interest, which increased the Company's ownership interest in the subsidiary to 95.03%.

As discussed in Note 2, Acquisitions, the Company, through a subsidiary of HFSC, acquired 90% of the membership interests of Millennium in January 2025. As part of the operating agreement, the noncontrolling interest holder has the right to cause the Company to purchase their membership interest over a four-year period beginning in fiscal 2029, or sooner under certain conditions, and the Company has the right to purchase the same membership interest over the same period.

Index

Accumulated Other Comprehensive Loss

Changes in the components of accumulated other comprehensive loss for the three months ended January 31, 2025 are as follows (in thousands):


	Foreign Currency Translation	Defined Benefit Pension Plan	Accumulated Other Comprehensive Loss
Balances as of October 31, 2024	($25,667)	($409)	($26,076)
Unrealized loss	(27,511)	—	(27,511)
Amortization of unrealized loss	—	1	1
Balances as of January 31, 2025	($53,178)	($408)	($53,586)

4. GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill by operating segment for the three months ended January 31, 2025 are as follows (in thousands):


	Segment		Consolidated Totals
	FSG	ETG
Balances as of October 31, 2024	$1,882,558	$1,497,737	$3,380,295
Goodwill acquired	112,088	14,759	126,847
Foreign currency translation adjustments	(2,298)	(13,103)	(15,401)
Adjustments to goodwill	(184)	(85)	(269)
Balances as of January 31, 2025	$1,992,164	$1,499,308	$3,491,472

The goodwill acquired pertains to the fiscal 2025 acquisitions described in Note 2, Acquisitions, and represents the residual value after the allocation of the total consideration to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed. The Company estimates that $101 million of the goodwill acquired in fiscal 2025 will be deductible for income tax purposes. Foreign currency translation adjustments are included in other comprehensive income (loss) in the Company's Condensed Consolidated Statements of Comprehensive Income. The adjustments to goodwill represent immaterial measurement period adjustments to the allocation of the purchase consideration of certain fiscal 2024 acquisitions.

Index

Identifiable intangible assets consist of the following (in thousands):


	As of January 31, 2025			As of October 31, 2024
	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount
Amortizing Assets:
Customer relationships	$1,077,828	($314,445)	$763,383	$1,013,847	($307,531)	$706,316
Intellectual property	523,823	(142,090)	381,733	471,516	(137,188)	334,328
Other	8,573	(7,790)	783	8,575	(7,708)	867
	1,610,224	(464,325)	1,145,899	1,493,938	(452,427)	1,041,511
Non-Amortizing Assets:
Trade names	300,717	—	300,717	293,263	—	293,263
	$1,910,941	($464,325)	$1,446,616	$1,787,201	($452,427)	$1,334,774

The increase in the gross carrying amount of customer relationships, intellectual property and trade names as of January 31, 2025 compared to October 31, 2024 principally relates to such intangible assets recognized in connection with the fiscal 2025 acquisitions (see Note 2, Acquisitions).

Amortization expense related to intangible assets for the three months ended January 31, 2025 and 2024 was $32.2 million and $30.2 million, respectively. Amortization expense related to intangible assets for the remainder of fiscal 2025 is estimated to be $102.7 million. Amortization expense for each of the next five fiscal years and thereafter is estimated to be $131.7 million in fiscal 2026, $126.8 million in fiscal 2027, $120.4 million in fiscal 2028, $114.6 million in fiscal 2029, $107.7 million in fiscal 2030, and $442.0 million thereafter.

5. LONG-TERM DEBT

Long-term debt consists of the following (in thousands):


	January 31, 2025	October 31, 2024
Borrowings under revolving credit facility	$1,140,000	$1,015,000
2028 senior unsecured notes	600,000	600,000
2033 senior unsecured notes	600,000	600,000
Finance leases and notes payable	24,949	26,133
Less: Debt discount and debt issuance costs	(11,318)	(11,759)
	2,353,631	2,229,374
Less: Current maturities of long-term debt	(3,950)	(4,107)
	$2,349,681	$2,225,267

Index

Revolving Credit Facility

The Company's borrowings under its revolving credit facility mature in fiscal 2028. As of January 31, 2025 and October 31 2024, the weighted average interest rate on borrowings under the Company's revolving credit facility ("Credit Facility") was 6.1% and 6.3%, respectively. The Credit Facility contains both financial and non-financial covenants. As of January 31, 2025, the Company was in compliance with all such covenants.

Senior Unsecured Notes

The Company's senior unsecured notes consist of $600 million principal amount of 5.25% Senior Notes due August 1, 2028 (the "2028 Notes") and $600 million principal amount of 5.35% Senior Notes due August 1, 2033 (the "2033 Notes" and, collectively with the 2028 Notes, the "Notes"). Interest on the Notes is payable semi-annually in arrears on February 1 and August 1 of each year. The 2028 Notes and 2033 Notes each have an effective interest rate of 5.5%. The Notes are fully and unconditionally guaranteed on a senior unsecured basis by all of the Company's existing and future subsidiaries that guarantee the Company's obligations under the Credit Facility (the "Guarantor Group"). As of January 31, 2025, the Company was in compliance with all covenants related to the Notes.

The following table sets forth the carrying value and estimated fair value of the Company’s Notes, which are classified as Level 1 financial instruments in the fair value hierarchy (in thousands). The Company estimated the fair value of the Notes by taking the weighted average of market quotes for the exact security that was actively traded on January 31, 2025 and October 31, 2024.


	January 31, 2025		October 31, 2024
	Carrying Value	Fair Value	Carrying Value	Fair Value
2028 Notes	$595,552	$607,777	$595,267	$609,376
2033 Notes	593,130	599,848	592,974	605,917
Total	$1,188,682	$1,207,625	$1,188,241	$1,215,293

6. REVENUE

Contract Balances

Contract assets (unbilled receivables) represent revenue recognized on contracts using an over-time recognition model in excess of amounts invoiced to the customer. Contract liabilities (deferred revenue) represent customer advances and billings in excess of revenue recognized and are included within accrued expenses and other current liabilities and other long-term liabilities in the Company’s Condensed Consolidated Balance Sheets.

Index

Changes in the Company’s contract assets and liabilities for the three months ended January 31, 2025 are as follows (in thousands):


	January 31, 2025	October 31, 2024	Change
Contract assets, current	$118,213	$112,235	$5,978

Contract liabilities, current	77,429	83,903	(6,474)
Contract liabilities, long-term	77,858	61,843	16,015
Total contract liabilities	155,287	145,746	9,541

Net contract (liabilities) assets	($37,074)	($33,511)	($3,563)

The increase in the Company's total contract liabilities during the first quarter of fiscal 2025 principally reflects the receipt of advance deposits on certain customer contracts, mainly at the FSG.

The amount of revenue that the Company recognized during the first quarter of fiscal 2025 that was included in contract liabilities as of the beginning of fiscal 2025 was $35.8 million.

Remaining Performance Obligations

Backlog, which the Company believes to be the equivalent of its remaining performance obligations, represents contractually committed, or firm customer orders. As of January 31, 2025, the Company had $1,945.3 million of remaining performance obligations associated with firm contracts pertaining to many of the products offered by the FSG and ETG. The Company will recognize net sales as these obligations are satisfied. The Company expects to recognize $1,076.1 million of this amount during the remainder of fiscal 2025 and $869.2 million thereafter, of which a little more than half is expected to occur in fiscal 2026.

Index

Disaggregation of Revenue

The following table summarizes the Company’s net sales by product line for each operating segment (in thousands):


	Three months ended January 31,
	2025	2024
Flight Support Group:
Aftermarket replacement parts (1)	$456,028	$395,154
Repair and overhaul parts and services (2)	155,449	135,582
Specialty products (3)	101,697	87,980
Total net sales	713,174	618,716

Electronic Technologies Group:
Electronic component parts primarily for defense, space and aerospace equipment (4)	263,622	220,646
Electronic component parts for equipment in various other industries (5)	66,693	65,296
Total net sales	330,315	285,942

Intersegment sales	(13,267)	(8,295)

Total consolidated net sales	$1,030,222	$896,363

(1) Includes various jet engine and aircraft component replacement parts.

(2) Includes primarily the sale of parts consumed in various repair and overhaul services on selected jet engine and aircraft components, avionics, instruments, composites and flight surfaces of commercial and military aircraft.

(3) Includes primarily the sale of specialty components such as thermal insulation blankets, renewable/reusable insulation systems, advanced niche components, complex composite assemblies, expanded foil mesh as well as machining, brazing, fabricating and welding services generally to original equipment manufacturers, and emergency descent devices and personnel and cargo parachute products.

(4) Includes various component parts such as electro-optical infrared simulation and test equipment, electro-optical laser products, electro-optical, microwave and other power equipment, high-speed interface products, power conversion products, power distribution solutions, underwater locator beacons, emergency locator transmission beacons, traveling wave tube amplifiers, microwave power modules, a wide variety of memory products and radio frequency (RF) and microwave products, crashworthy and ballistically self-sealing auxiliary fuel systems, high performance communications and electronic intercept receivers and tuners, high performance active antenna systems and airborne antennas, technical surveillance countermeasures (TSCM) equipment, custom high power filters and filter assemblies, radiation assurance services and products, and high-reliability, complex, passive electronic components and rotary joint assemblies, and proprietary in-cabin power and entertainment components and subsystems.

Index

(5) Includes various component parts such as electromagnetic and radio frequency interference shielding, high voltage interconnection devices, high voltage advanced power electronics, harsh environment connectivity products, custom molded cable assemblies, silicone material for a variety of demanding applications, and rugged small form-factor embedded computing solutions, and high performance test sockets and adaptors.

The following table summarizes the Company’s net sales by industry for each operating segment (in thousands):


	Three months ended January 31,
	2025	2024
Flight Support Group:
Aerospace	$533,621	$461,241
Defense and Space	165,889	138,772
Other (1)	13,664	18,703
Total net sales	713,174	618,716

Electronic Technologies Group:
Defense and Space	170,741	135,776
Other (2)	98,962	100,610
Aerospace	60,612	49,556
Total net sales	330,315	285,942

Intersegment sales	(13,267)	(8,295)

Total consolidated net sales	$1,030,222	$896,363

(1) Principally industrial products.

(2) Principally other electronics and medical products.

7. INCOME TAXES

The Company's effective tax rate decreased to 7.0% in the first quarter of fiscal 2025, down from 11.8% in the first quarter of fiscal 2024. The decrease in the Company's effective tax rate principally reflects a larger tax benefit from stock option exercises recognized in the first quarter of fiscal 2025. The Company recognized a discrete tax benefit from stock option exercises in both the first quarter of fiscal 2025 and 2024 of $27.2 million and $13.6 million, respectively.

Index

8. FAIR VALUE MEASUREMENTS

The Company's assets and liabilities that were measured at fair value on a recurring basis are set forth by level within the fair value hierarchy in the following tables (in thousands):


	As of January 31, 2025
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Total
Assets:
Deferred compensation plan:
Corporate-owned life insurance	$—	$326,491	$—	$326,491
Money market fund	18,027	—	—	18,027
Total assets	$18,027	$326,491	$—	$344,518

Liabilities:
Contingent consideration	$—	$—	$36,514	$36,514


	As of October 31, 2024
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Total
Assets:
Deferred compensation plan:
Corporate-owned life insurance	$—	$313,794	$—	$313,794
Money market fund	3,365	—	—	3,365
Total assets	$3,365	$313,794	$—	$317,159

Liabilities:
Contingent consideration	$—	$—	$30,207	$30,207

The Company maintains the HEICO Corporation Leadership Compensation Plan (the "LCP"), which is a non-qualified deferred compensation plan. The assets of the LCP principally represent cash surrender values of life insurance policies, which derive their fair values from investments in mutual funds that are managed by an insurance company, and are classified within Level 2 and valued using a market approach. Certain other assets of the LCP represent an investment in a money market fund that is classified within Level 1. The assets of the LCP are held within an irrevocable trust and classified within other assets in the Company’s Condensed Consolidated Balance Sheets. The related liabilities of the LCP are included within other long-term liabilities and accrued expenses and other current liabilities in the Company’s Condensed Consolidated Balance Sheets and have an aggregate value of $342.0 million as of January 31, 2025 and $315.0 million as of October 31, 2024.

Index

As part of the agreement to acquire 90% of the membership interests of a subsidiary by the FSG in fiscal 2025, the Company may be obligated to pay contingent consideration of up to $21.1 million in fiscal 2028 based on the earnings of the acquired entity during the three-year period following the acquisition provided the entity meets a certain earnings objective over the same three-year period. As of January 31, 2025, the estimated fair value of the contingent consideration was $11.5 million.

As part of the agreement to acquire 96% of the stock of a subsidiary by the FSG in fiscal 2022, the Company may be obligated to pay contingent consideration of up to $27.4 million in fiscal 2027 based on the earnings of the acquired entity during fiscal years 2025 and 2026. As of January 31, 2025, the estimated fair value of the contingent consideration was $22.7 million.

As part of the agreement to acquire 74% of the membership interests of a subsidiary by the FSG in fiscal 2022, the Company may be obligated to pay contingent consideration of $14.1 million in fiscal 2027 should the acquired entity meet a certain earnings objective during the five-year period following the acquisition. As of January 31, 2025, the estimated fair value of the contingent consideration was $2.4 million.

As part of the agreement to acquire 89.99% of the equity interests of a subsidiary by the ETG in fiscal 2020, the Company paid contingent consideration of CAD $11.7 million, or $8.1 million, in January 2025 as the acquired entity met certain earnings objectives during fiscal 2023 and 2024.

The following unobservable inputs were used to derive the estimated fair value of the Company's Level 3 contingent consideration liabilities as of January 31, 2025 ($ in thousands):


		Unobservable		Weighted
Acquisition Date	Fair Value	Input	Range	Average (1)
1-31-2025	$11,457	Compound annual revenue growth rate	5% - 22%	17%
		Discount rate	7.6% - 7.6%	7.6%

7-18-2022	22,697	Compound annual revenue growth rate	5% - 10%	9%
		Discount rate	7.6% - 7.6%	7.6%

3-17-2022	2,360	Compound annual revenue growth rate	1% - 5%	4%
		Discount rate	8.1% - 8.1%	8.1%

(1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.

Index

Changes in the Company’s contingent consideration liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) for the three months ended January 31, 2025 are as follows (in thousands):


						Liabilities
Balance as of October 31, 2024						$30,207
Contingent consideration related to an acquisition						11,457
Payment of contingent consideration						(8,144)
Increase in accrued contingent consideration						3,288
Foreign currency transaction adjustments						(294)
Balance as of January 31, 2025						$36,514

As of January 31, 2025, the Company's contingent consideration balance is included within other long-term liabilities in its Condensed Consolidated Balance Sheet. The Company records changes in accrued contingent consideration and foreign currency transaction adjustments within SG&A expenses in its Condensed Consolidated Statements of Operations.

The carrying amounts of the Company’s cash and cash equivalents, accounts receivable, trade accounts payable and accrued expenses and other current liabilities approximate fair value as of January 31, 2025 due to the relatively short maturity of the respective instruments. The carrying amount of borrowings under the Company's credit facility approximates fair value due to its variable interest rate. See Note 5, Long-Term Debt, for the estimated fair value of the Company’s senior unsecured notes.

Index

9. NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS

The computation of basic and diluted net income per share attributable to HEICO shareholders is as follows (in thousands, except per share data):


	Three months ended January 31,
	2025	2024
Numerator:
Net income attributable to HEICO	$167,955	$114,698

Denominator:
Weighted average common shares outstanding - basic	138,837	138,265
Effect of dilutive stock options	1,647	1,628
Weighted average common shares outstanding - diluted	140,484	139,893

Net income per share attributable to HEICO shareholders:
Basic	$1.21	$.83
Diluted	$1.20	$.82

Anti-dilutive stock options excluded	53	1,422

Index

10. OPERATING SEGMENTS

Information on the Company’s two operating segments, the FSG and the ETG, for the three months ended January 31, 2025 and 2024 is as follows (in thousands):


			Other, Primarily Corporate and Intersegment (1)	Consolidated Totals
	Segment
	FSG	ETG
Three months ended January 31, 2025:
Net sales	$713,174	$330,315	($13,267)	$1,030,222
Depreciation	6,578	5,969	501	13,048
Amortization	19,254	13,531	392	33,177
Operating income	166,116	76,456	(15,767)	226,805
Capital expenditures	10,246	7,089	—	17,335

Three months ended January 31, 2024:
Net sales	$618,716	$285,942	($8,295)	$896,363
Depreciation	6,487	5,539	304	12,330
Amortization	17,857	12,926	392	31,175
Operating income	136,091	55,328	(11,209)	180,210
Capital expenditures	6,732	6,174	471	13,377

(1) Intersegment activity principally consists of net sales from the ETG to the FSG.

Total assets by operating segment are as follows (in thousands):


			Other, Primarily Corporate	Consolidated Totals
	Segment
	FSG	ETG
Total assets as of January 31, 2025	$4,523,480	$2,961,755	$405,476	$7,890,711
Total assets as of October 31, 2024	4,264,360	2,981,326	347,136	7,592,822

11. COMMITMENTS AND CONTINGENCIES

Guarantees

As of January 31, 2025, the Company has arranged for standby letters of credit aggregating $10.0 million, which are supported by its revolving credit facility and principally pertain to performance guarantees related to customer contracts entered into by certain of the Company's subsidiaries as well as a payment guarantee related to potential workers' compensation claims.

Index

Product Warranty

Changes in the Company’s product warranty liability for the three months ended January 31, 2025 and 2024 are as follows (in thousands):


	Three months ended January 31,
	2025	2024
Balances as of beginning of fiscal year	$4,036	$3,847
Accruals for warranties	592	790
Acquired warranty liabilities	100	—
Warranty claims settled	(697)	(834)
Balances as of January 31	$4,031	$3,803

Litigation

The Company is involved in various legal actions arising in the normal course of business. Based upon the Company’s and its legal counsel’s evaluations of any claims or assessments, management is of the opinion that the outcome of these matters will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.

Index

Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview

This discussion of our financial condition and results of operations should be read in conjunction with our condensed consolidated financial statements and notes thereto included herein. The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates if different assumptions were used or different events ultimately transpire.

Our critical accounting policies, which require management to make judgments about matters that are inherently uncertain, are described in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” under the heading “Critical Accounting Estimates” in our Annual Report on Form 10-K for the year ended October 31, 2024. There have been no material changes to our critical accounting policies during the three months ended January 31, 2025.

Our business is comprised of two operating segments: the Flight Support Group (“FSG”), consisting of HEICO Aerospace Holdings Corp. and HEICO Flight Support Corp. and their respective subsidiaries; and the Electronic Technologies Group (“ETG”), consisting of HEICO Electronic Technologies Corp. and its subsidiaries.

Our results of operations for the three months ended January 31, 2025 have been affected by the fiscal 2024 acquisitions as further detailed in Note 2, Acquisitions, of the Notes to Consolidated Financial Statements of our Annual Report on Form 10-K for the year ended October 31, 2024 and the fiscal 2025 acquisitions as further detailed in Note 2, Acquisitions, of the Notes to the Condensed Consolidated Financial Statements of this quarterly report.

Index

Results of Operations

The following table sets forth the results of our operations, net sales and operating income by segment and the percentage of net sales represented by the respective items in our Condensed Consolidated Statements of Operations (in thousands):


	Three months ended January 31,
	2025		2024
Net sales	$1,030,222		$896,363
Cost of sales	624,560		549,594
Selling, general and administrative expenses	178,857		166,559
Total operating costs and expenses	803,417		716,153
Operating income	$226,805		$180,210

Net sales by segment:
Flight Support Group	$713,174		$618,716
Electronic Technologies Group	330,315		285,942
Intersegment sales	(13,267)		(8,295)
	$1,030,222		$896,363

Operating income by segment:
Flight Support Group	$166,116		$136,091
Electronic Technologies Group	76,456		55,328
Other, primarily corporate	(15,767)		(11,209)
	$226,805		$180,210

Net sales	100.0	%	100.0	%
Gross profit	39.4	%	38.7	%
Selling, general and administrative expenses	17.4	%	18.6	%
Operating income	22.0	%	20.1	%
Interest expense	(3.2	%)	(4.3	%)
Other income	.1	%	.1	%
Income tax expense	1.3	%	1.9	%
Net income attributable to noncontrolling interests	1.3	%	1.2	%
Net income attributable to HEICO	16.3	%	12.8	%

Index

Comparison of First Quarter of Fiscal 2025 to First Quarter of Fiscal 2024

Net Sales

Our consolidated net sales in the first quarter of fiscal 2025 increased by 15% to a record $1,030.2 million, up from net sales of $896.4 million in the first quarter of fiscal 2024. The increase in consolidated net sales principally reflects an increase of $94.5 million (a 15% increase) to a record $713.2 million in net sales of the FSG and an increase of $44.4 million (a 16% increase) to $330.3 million in net sales of the ETG. The net sales increase in the FSG reflects strong organic growth of 13% and net sales of $13.5 million contributed by fiscal 2024 and 2025 acquisitions. The FSG's organic net sales growth reflects increased demand within its aftermarket replacement parts, repair and overhaul parts and services, and specialty products product lines resulting in net sales increases of $60.9 million, $15.0 million and $5.1 million, respectively. The net sales increase in the ETG reflects strong organic growth of 11% and net sales of $9.9 million contributed by fiscal 2024 and 2025 acquisitions. The ETG's organic net sales growth is mainly attributable to increased demand for its defense, space and aerospace products resulting in net sales increases of $16.1 million, $13.5 million and $4.9 million, respectively, partially offset by a slight decrease in demand for its other electronics and medical products. Sales price changes were not a significant contributing factor to the change in net sales of the FSG and ETG in the first quarter of fiscal 2025.

Gross Profit and Operating Expenses

Our consolidated gross profit margin improved to 39.4% in the first quarter of fiscal 2025, up from 38.7% in the first quarter of fiscal 2024 principally reflecting increases of 1.0% and .6% in the ETG's and FSG’s gross profit margin, respectively. The increase in the ETG's gross profit margin principally reflects the previously mentioned higher net sales of space, defense and aerospace products, partially offset by the previously mentioned slight decrease in net sales of other electronics and medical products. The increase in the FSG's gross profit margin principally reflects the previously mentioned higher net sales within our aftermarket replacement parts product line. Total new product research and development expenses included within our consolidated cost of sales were $27.6 million in the first quarter of fiscal 2025, up from $25.1 million in the first quarter of fiscal 2024.

Our consolidated selling, general and administrative ("SG&A") expenses were $178.9 million in the first quarter of fiscal 2025, as compared to $166.6 million in the first quarter of fiscal 2024. The increase in consolidated SG&A expenses principally reflects costs incurred to support the previously mentioned net sales growth resulting in increases of $4.3 million and $3.9 million in selling expenses and general and administrative expenses, respectively, as well as $4.0 million attributable to our fiscal 2024 and 2025 acquisitions.

Our consolidated SG&A expenses as a percentage of net sales improved to 17.4% in the first quarter of fiscal 2025, down from 18.6% in the first quarter of fiscal 2024. The decrease in consolidated SG&A expenses as a percentage of net sales principally reflects efficiencies realized from the previously mentioned net sales growth.

Index

Operating Income

Our consolidated operating income increased by 26% to a record $226.8 million in the first quarter of fiscal 2025, up from $180.2 million in the first quarter of fiscal 2024. The increase in consolidated operating income principally reflects a $30.0 million increase (a 22% increase) to a record $166.1 million in operating income of the FSG and a $21.1 million increase (a 38% increase) to $76.5 million in operating income of the ETG. The increase in operating income of the FSG and ETG principally reflects the previously mentioned net sales growth, SG&A efficiencies realized from the net sales growth, and the improved gross profit margin at each operating segment.

Our consolidated operating income as a percentage of net sales improved to 22.0% in the first quarter of fiscal 2025, up from 20.1% in the first quarter of fiscal 2024. The increase in consolidated operating income as a percentage of net sales principally reflects an increase in the ETG's operating income as a percentage of net sales to 23.1% in the first quarter of fiscal 2025, up from 19.3% in the first quarter of fiscal 2024 and an increase in the FSG’s operating income as a percentage of net sales to 23.3% in the first quarter of fiscal 2025, up from 22.0% in the first quarter of fiscal 2024. The increase in the ETG's operating income as a percentage of net sales principally reflects a 2.8% impact from lower SG&A expenses as a percentage of net sales, mainly due to the previously mentioned efficiencies realized from the net sales growth, as well as the previously mentioned improved gross profit margin. The increase in the FSG's operating income as a percentage of net sales principally reflects the previously mentioned improved gross profit margin and a .7% impact from a decrease in SG&A expenses as a percentage of net sales, primarily driven by the previously mentioned efficiencies.

Interest Expense

Interest expense decreased to $32.5 million in the first quarter of fiscal 2025, down from $38.6 million in the first quarter of fiscal 2024. The decrease in interest expense was principally due to a decrease in the amount of outstanding debt.

Other Income

Other income in the first quarter of fiscal 2025 and 2024 was not material.

Income Tax Expense

Our effective tax rate decreased to 7.0% in the first quarter of fiscal 2025, down from 11.8% in the first quarter of fiscal 2024. The decrease in our effective tax rate principally reflects a larger tax benefit from stock option exercises recognized in the first quarter of fiscal 2025. We recognized a discrete tax benefit from stock option exercises in both the first quarter of fiscal 2025 and 2024 of $27.2 million and $13.6 million, respectively.

Index

Net Income Attributable to Noncontrolling Interests

Net income attributable to noncontrolling interests relates to the 20% noncontrolling interest held by Lufthansa Technik AG in HEICO Aerospace Holdings Corp. and the noncontrolling interests held by others in certain subsidiaries of the FSG and ETG. Net income attributable to noncontrolling interests was $13.6 million in the first quarter of fiscal 2025, as compared to $10.8 million in the first quarter of fiscal 2024. The increase in net income attributable to noncontrolling interests principally reflects improved operating results of certain subsidiaries of the FSG and ETG in which noncontrolling interests are held.

Net Income Attributable to HEICO

Net income attributable to HEICO increased by 46% to a record $168.0 million, or $1.20 per diluted share, in the first quarter of fiscal 2025, up from $114.7 million, or $.82 per diluted share, in the first quarter of fiscal 2024 principally reflecting the previously mentioned higher consolidated operating income and lower effective tax rate.

Outlook

As we look ahead to the remainder of fiscal 2025, we remain confident in achieving net sales growth across both the FSG and ETG segments, driven primarily by strong organic demand for most of our products. Specifically, we are optimistic about sustained momentum in our defense products, as reflected in this past quarter's results. Additionally, we aim to accelerate growth through our recently completed acquisitions while positioning ourselves to capitalize on future acquisition opportunities. Our disciplined financial strategy continues to focus on maximizing long-term shareholder value through a balanced approach of strategic acquisitions and organic growth initiatives aimed at gaining market share, while maintaining a strong financial position and preserving flexibility.

Liquidity and Capital Resources

Our principal uses of cash include acquisitions, capital expenditures, interest payments, cash dividends, distributions to noncontrolling interests and working capital needs. We continue to anticipate fiscal 2025 capital expenditures to be approximately $65 to $70 million. We finance our activities primarily from our operating and financing activities, including borrowings under our revolving credit facility. The revolving credit facility and senior unsecured notes contain both financial and non-financial covenants. As of January 31, 2025, we were in compliance with all such covenants and our total debt to shareholders’ equity ratio was 61.8%.

Based on our current outlook, we believe that net cash provided by operating activities and available borrowings under our revolving credit facility will be sufficient to fund our cash requirements for at least the next twelve months.

Index

Operating Activities

Net cash provided by operating activities was $203.0 million in the first quarter of fiscal 2025 and consisted primarily of net income from consolidated operations of $181.6 million, depreciation and amortization expense of $46.2 million (a non-cash item), net changes of $17.7 million included in the "Other" caption (principally the receipt of advance deposits on certain long-term customer contracts), and net changes in other long-term liabilities and assets related to the HEICO Corporation Leadership Compensation Plan (the "LCP") of $13.0 million (principally participant deferrals and employer contributions), partially offset by a $59.7 million increase in net working capital. The increase in net working capital is inclusive of a $63.9 million decrease in accrued expenses and other current liabilities mainly reflecting the payment of fiscal 2024 accrued performance-based compensation, and a $36.2 million increase in inventories to support an increase in consolidated backlog, partially offset by a $20.1 million decrease in accounts receivable resulting from the timing of collections, a $16.9 million increase in income taxes payable and a $10.4 million increase in trade accounts payable.

Net cash provided by operating activities increased by $91.4 million (an 82% increase) in the first quarter of fiscal 2025, up from $111.7 million in the first quarter of fiscal 2024. The increase is principally attributable to a $56.1 million increase in net income from consolidated operations, a $19.6 million increase in the "Other" caption (principally the receipt of advance deposits on certain long-term customer contracts), a $12.2 million decrease in net working capital and a $4.0 million decrease in the payment of contingent consideration.

Investing Activities

Net cash used in investing activities totaled $288.0 million in the first quarter of fiscal 2025 and related primarily to acquisitions of $254.8 million, capital expenditures of $17.3 million and LCP funding of $14.6 million. Further details regarding our fiscal 2025 acquisitions may be found in Note 2, Acquisitions, of the Notes to Condensed Consolidated Financial Statements.

Financing Activities

Net cash provided by financing activities in the first quarter of fiscal 2025 totaled $90.7 million. During the first quarter of fiscal 2025, we borrowed $145.0 million under our revolving credit facility, which was partially offset by $20.0 million in payments made on our revolving credit facility, $15.3 million of cash dividends paid on our common stock, $10.2 million of distributions to noncontrolling interests, $6.0 million of contingent consideration payments and $3.3 million of payments to acquire certain noncontrolling interests.

Other Obligations and Commitments

There have not been any material changes to our other obligations and commitments that were included in our Annual Report on Form 10-K for the year ended October 31, 2024.

Index

New Accounting Pronouncements

See Note 1, Summary of Significant Accounting Policies - New Accounting Pronouncements, of the Notes to Condensed Consolidated Financial Statements for additional information.

Guarantor Group Summarized Financial Information

On July 27, 2023, we completed the public offer and sale of senior unsecured notes, which consisted of $600 million principal amount of 5.25% Senior Notes due August 1, 2028 (the "2028 Notes") and $600 million principal amount of 5.35% Senior Notes due August 1, 2033 (the "2033 Notes" and, collectively with the 2028 Notes, the "Notes"). The Notes are fully and unconditionally guaranteed on a senior unsecured basis by all of our existing and future subsidiaries that guarantee our obligations under our revolving credit facility ("Credit Facility") (the “Guarantor Group”).

The Notes were issued pursuant to an Indenture, dated as of July 27, 2023 (the “Base Indenture”), between HEICO and certain of its subsidiaries (collectively, the "Subsidiary Guarantors") and Truist Bank, as trustee (the “Trustee”), as supplemented by a First Supplemental Indenture, dated as of July 27, 2023 (the “First Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), between us, the Subsidiary Guarantors and the Trustee. The Notes are direct, unsecured senior obligations of HEICO and rank equally in right of payment with all of our existing and future senior unsecured indebtedness. Each Subsidiary Guarantor is owned either directly or indirectly by the Company and jointly and severally guarantee our obligations under the Notes. None of the Subsidiary Guarantors are organized outside of the U.S.

Under the Indenture, holders of the Notes will be deemed to have consented to the release of a subsidiary guarantee provided by a subsidiary guarantor, without any action required on the part of the Trustee or any holder of the Notes, upon such subsidiary guarantor ceasing to guarantee or to be an obligor with respect to the Credit Facility. Accordingly, if the lenders under the Credit Facility release a subsidiary guarantor from its guarantee of, or obligations as a borrower under, the Credit Facility, the obligations of the subsidiary guarantors to guarantee the Notes will immediately terminate. If any of our future subsidiaries incur obligations under the Credit Facility while the Notes are outstanding, then such subsidiary will be required to guarantee the Notes.

In addition, a subsidiary guarantor will be released and relieved from all its obligations under its subsidiary guarantee in the following circumstances, each of which is permitted by the indenture:

•upon the sale or other disposition (including by way of consolidation or merger), in one transaction or a series of related transactions, of a majority of the total voting stock of such subsidiary guarantor (other than to us or any of our affiliates); or

Index

•upon the sale or disposition of all or substantially all the property of such subsidiary guarantor (other than to any of our affiliates or another subsidiary guarantor);

provided, however, that, in each case, such transaction is permitted by the Credit Facility and after giving effect to such transaction, such subsidiary guarantor is no longer liable for any subsidiary guarantee or other obligations in respect of the Credit Facility. The subsidiary guarantee of a subsidiary guarantor also will be released if we exercise our legal defeasance, covenant defeasance option or discharge the Indenture.

We conduct our operations almost entirely through our subsidiaries. Accordingly, the Guarantor Group’s cash flow and ability to service any guaranteed registered debt securities will depend on the earnings of our subsidiaries and the distribution of those earnings to the Guarantor Group, including the earnings of the non-guarantor subsidiaries, whether by dividends, loans or otherwise. Holders of the guaranteed registered debt securities will have a direct claim only against the Guarantor Group.

The following tables include summarized financial information for the Guarantor Group (in thousands). The information for the Guarantor Group is presented on a combined basis, excluding intercompany balances and transactions between us and the Guarantor Group and excluding investments in and equity in the earnings of non-guarantor subsidiaries. The Guarantor Group’s amounts due from, amounts due to, and transactions with non-guarantor subsidiaries have been presented in separate line items. The consolidating schedules are provided in accordance with the reporting requirements of Rule 13-01 under SEC Regulation S-X for the issuer and guarantor subsidiaries.


	As of	As of
	January 31, 2025	October 31, 2024
Current assets (excluding net intercompany receivable from non-guarantor subsidiaries)	$1,684,364	$1,642,341
Noncurrent assets	4,703,981	4,627,711
Net intercompany receivable from/ (payable to) non-guarantor subsidiaries	247,337	243,421
Current liabilities (excluding net intercompany payable to non-guarantor subsidiaries)	511,707	546,677
Noncurrent liabilities	2,964,285	2,793,193
Redeemable noncontrolling interests	262,444	243,277
Noncontrolling interests	53,455	49,900


			Three months ended
			January 31, 2025
Net sales			$857,041
Gross profit			332,070
Operating income			189,860
Net income from consolidated operations			170,511
Net income attributable to HEICO			160,511

Index


			Three months ended
			January 31, 2025
Intercompany net sales			$2,531
Intercompany management fee			971
Intercompany interest income			2,282
Intercompany dividends			17,047

Forward-Looking Statements

Certain statements in this report constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained herein that are not clearly historical in nature may be forward-looking and the words “anticipate,” “believe,” “expect,” “estimate” and similar expressions are generally intended to identify forward-looking statements. Any forward-looking statement contained herein, in press releases, written statements or other documents filed with the Securities and Exchange Commission or in communications and discussions with investors and analysts in the normal course of business through meetings, phone calls and conference calls, concerning our operations, economic performance and financial condition are subject to risks, uncertainties and contingencies. We have based these forward-looking statements on our current expectations and projections about future events. All forward-looking statements involve risks and uncertainties, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. Also, forward-looking statements are based upon management’s estimates of fair values and of future costs, using currently available information. Therefore, actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include:

•The severity, magnitude and duration of public health threats, such as the COVID-19 pandemic;

•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 to 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;

Index

•Product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales;

•Cyber security 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.

For further information on these and other factors that potentially could materially affect our financial results, see Item 1A, Risk Factors, of our Annual Report on Form 10-K for the year ended October 31, 2024. 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.

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET

RISK

There have not been any material changes in our assessment of HEICO’s sensitivity to market risk that was disclosed in Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” in our Annual Report on Form 10-K for the year ended October 31, 2024.

Item 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this quarterly report. Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that HEICO’s disclosure controls and procedures are effective as of the end of the period covered by this quarterly report.

Changes in Internal Control Over Financial Reporting

There have been no changes in our internal control over financial reporting during the first quarter ended January 31, 2025 that have materially affected, or are reasonably likely to materially affect, HEICO's internal control over financial reporting.

Index

PART II. OTHER INFORMATION

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

On January 31, 2025, we acquired 90% of the membership interests of Millennium International, LLC ("Millennium"). The purchase price of this acquisition was principally paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, as well as through the issuance of 53,186 shares of HEICO Class A Common Stock. The HEICO Class A Common Stock issued in connection with the acquisition of Millennium was not registered under the Securities Act of 1933, in accordance with Section 4(a)(2) and Rule 506(b) of Regulation D thereunder, as a transaction by an issuer not involving any public offering. See Note 2, Acquisitions, of the Notes to Condensed Consolidated Financial Statements for additional information.

Item 5. Other Events.

None of our directors or officers adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K, during the first quarter ended January 31, 2025.

Index

Item 6. EXHIBITS


Exhibit						Description
22						Subsidiary Guarantors and Issuers of Guaranteed Securities, is incorporated by reference to Exhibit 22 to the Form 10-K for the year ended October 31, 2024.***

31.1						Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer. *

31.2						Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer. *

32.1						Section 1350 Certification of Chief Executive Officer. **

32.2						Section 1350 Certification of Chief Financial Officer. **

101.INS						Inline XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL Document. *

101.SCH						Inline XBRL Taxonomy Extension Schema Document. *

101.CAL						Inline XBRL Taxonomy Extension Calculation Linkbase Document. *

101.DEF						Inline XBRL Taxonomy Extension Definition Linkbase Document. *

101.LAB						Inline XBRL Taxonomy Extension Labels Linkbase Document. *

101.PRE						Inline XBRL Taxonomy Extension Presentation Linkbase Document. *

104						Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101). *

* Filed herewith.

** Furnished herewith.

*** Previously filed.

Index

SIGNATURES

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 thereunto duly authorized.


		HEICO CORPORATION

Date:	February 28, 2025	By:	/s/ CARLOS L. MACAU, JR.
			Carlos L. Macau, Jr. Executive Vice President - Chief Financial Officer and Treasurer (Principal Financial Officer)

		By:	/s/ BRADLEY K. ROWEN
			Bradley K. Rowen Chief Accounting Officer and Assistant Treasurer (Principal Accounting Officer)

Exhibit 31.1

RULE 13a-14(a)/15d-14(a) CERTIFICATION

I, Laurans A. Mendelson, certify that:

(1)I have reviewed this Quarterly Report on Form 10-Q of HEICO Corporation;

(2)Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3)Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4)The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5)The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date:	February 28, 2025	/s/ LAURANS A. MENDELSON
		Laurans A. Mendelson
		Chief Executive Officer
		(Principal Executive Officer)

Exhibit 31.2

RULE 13a-14(a)/15d-14(a) CERTIFICATION

I, Carlos L. Macau, Jr., certify that:

(1)I have reviewed this Quarterly Report on Form 10-Q of HEICO Corporation;

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date:	February 28, 2025	/s/ CARLOS L. MACAU, JR.
		Carlos L. Macau, Jr.
		Chief Financial Officer
		(Principal Financial Officer)

Exhibit 32.1

SECTION 1350 CERTIFICATION

In connection with the Quarterly Report of HEICO Corporation (the “Company”) on Form 10-Q for the period ended January 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Laurans A. Mendelson, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


Date:	February 28, 2025	/s/ LAURANS A. MENDELSON
		Laurans A. Mendelson
		Chief Executive Officer
		(Principal Executive Officer)

Exhibit 32.2

SECTION 1350 CERTIFICATION

In connection with the Quarterly Report of HEICO Corporation (the “Company”) on Form 10-Q for the period ended January 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Carlos L. Macau, Jr., certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


Date:	February 28, 2025	/s/ CARLOS L. MACAU, JR.
		Carlos L. Macau, Jr.
		Chief Financial Officer
		(Principal Financial Officer)

DOCUMENT AND ENTITY INFORMATION - $ / shares	3 Months Ended
DOCUMENT AND ENTITY INFORMATION - $ / shares	Jan. 31, 2025	Feb. 26, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity Shell Company	false
Local Phone Number	987-4000
Entity File Number	001-04604
City Area Code	954
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Period End Date	Jan. 31, 2025
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2025
Entity Current Reporting Status	Yes
Entity Information [Line Items]
Entity Incorporation, State or Country Code	FL
Entity Registrant Name	HEICO CORPORATION
Address	3000 Taft Street
Entity Address, City or Town	Hollywood
State	FL
Zip Code	33021
Entity Central Index Key	0000046619
Entity Tax Identification Number	65-0341002
Current Fiscal Year End Date	--10-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Heico Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.01 par value per share
Security Exchange Name	NYSE
Trading Symbol	HEI
Entity Common Stock, Shares Outstanding		55,024,967
Entity Common Stock Par Value	$ 0.01
Common Class A [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock, $.01 par value per share
Security Exchange Name	NYSE
Trading Symbol	HEI.A
Entity Common Stock, Shares Outstanding		83,922,279
Entity Common Stock Par Value	$ 0.01

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Current assets:
Cash and cash equivalents	$ 165,467	$ 162,103
Accounts receivable, net	523,268	538,487
Contract assets	118,213	112,235
Inventories, net	1,218,711	1,170,949
Prepaid expenses and other current assets	77,059	78,518
Total current assets	2,102,718	2,062,292
Property, plant and equipment, net	348,838	339,034
Goodwill	3,491,472	3,380,295
Intangible assets, net	1,446,616	1,334,774
Other assets	501,067	476,427
Total assets	7,890,711	7,592,822
Current liabilities:
Current maturities of long-term debt	3,950	4,107
Trade accounts payable	208,141	198,429
Accrued expenses and other current liabilities	359,531	427,781
Income taxes payable	46,717	33,534
Total current liabilities	618,339	663,851
Long-term debt, net of current maturities	2,349,681	2,225,267
Deferred income taxes	108,780	114,156
Other long-term liabilities	579,100	525,986
Total liabilities	3,655,900	3,529,260
Commitments and contingencies
Redeemable noncontrolling interests	424,083	366,156
Shareholders' equity:
Preferred Stock	0	0
Additional Paid in Capital	618,622	599,399
Deferred Compensation Obligation	7,272	7,272
Common Stock Issued, Employee Stock Trust	(7,272)	(7,272)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(53,586)	(26,076)
Retained Earnings (Accumulated Deficit)	3,180,102	3,062,166
Total HEICO shareholders' equity	3,746,527	3,636,877
Noncontrolling interests	64,201	60,529
Total shareholders' equity	3,810,728	3,697,406
Total liabilities and equity	7,890,711	7,592,822
Heico Common Stock [Member]
Shareholders' equity:
Common Stock	550	550
Class A Common Stock [Member]
Shareholders' equity:
Common Stock	$ 839	$ 838

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED [PARENTHETICAL] - $ / shares shares in Thousands	Jan. 31, 2025	Oct. 31, 2024
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000	10,000
Preferred Stock, Shares Issued	0	0
Heico Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000	150,000
Common stock, shares issued	55,025	54,986
Common stock, shares outstanding	55,025	54,986
Class A Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000	150,000
Common stock, shares issued	83,920	83,827
Common stock, shares outstanding	83,920	83,827

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Net sales	$ 1,030,222	$ 896,363
Operating costs and expenses:
Cost of sales	624,560	549,594
Selling, general and administrative expenses	178,857	166,559
Total operating costs and expenses	803,417	716,153
Operating income	226,805	180,210
Interest expense	(32,458)	(38,607)
Other (expense) income	919	679
Income before income taxes and noncontrolling interests	195,266	142,282
Income tax expense	13,700	16,800
Net income from consolidated operations	181,566	125,482
Less: Net income attributable to noncontrolling interests	13,611	10,784
Net income attributable to HEICO	$ 167,955	$ 114,698
Net income per share attributable to HEICO shareholders:
Basic (in dollars per share)	$ 1.21	$ 0.83
Diluted (in dollars per share)	$ 1.20	$ 0.82
Weighted average number of common shares outstanding:
Basic (in shares)	138,837	138,265
Diluted (in shares)	140,484	139,893

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Net income from consolidated operations	$ 181,566	$ 125,482
Other comprehensive income (loss):
Foreign currency translation adjustments	(28,814)	14,761
Amortization of unrealized loss on defined benefit pension plan, net of tax	1	13
Total other comprehensive income (loss)	(28,813)	14,774
Comprehensive income from consolidated operations	152,753	140,256
Less: Comprehensive income attributable to noncontrolling interests	13,611	10,784
Less: Foreign currency translation adjustments attributable to noncontrolling interests	(1,303)	556
Comprehensive income attributable to noncontrolling interests	12,308	11,340
Comprehensive income attributable to HEICO	$ 140,445	$ 128,916

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands	Total	Redeemable Noncontrolling Interests [Member]	Common Stock [Member]	Common Stock [Member] Class A Common Stock [Member]	Capital In Excess Of Par Value [Member]	Deferred Compensation Obligation [Member]	HEICO Stock Held By Irrevocable Trust [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total Shareholders Equity [Member]
Starting Balance at Oct. 31, 2023			$ 547	$ 835	$ 578,809	$ 6,318	$ (6,318)	$ (40,180)	$ 2,605,984	$ 47,156	$ 3,193,151
Stockholders' Equity [Roll Forward]
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 128,916							14,218	114,698
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	11,340	$ 7,996								3,344
Comprehensive income	140,256										132,260
Cash dividends									(13,831)		(13,831)
Issuance of common stock to Savings and Investment Plan					2,576						2,576
Share-based compensation expense					4,881						4,881
Proceeds from stock option exercises			1	1							2,254
Proceeds from stock option exercises, Adjustment to Additional Paid in Capital					2,252
Stock Redeemed or Called During Period, Value					(601)						(601)
Distributions to noncontrolling interests		(8,467)								(299)	(299)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests		(1,056)			(1,156)						(1,156)
Adjustments to redemption amount of redeemable noncontrolling interests		1,443							(1,443)		(1,443)
Adjustments to Additional Paid in Capital, Other					(873)
Stockholders' Equity, Other									(280)		(1,153)
Ending Balance at Jan. 31, 2024			548	836	585,888	6,318	(6,318)	(25,962)	2,705,128	50,201	3,316,639
Starting Balance, Redeemable Noncontrolling Interests at Oct. 31, 2023		364,807
Temporary Equity [Roll Forward]
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	11,340	7,996								3,344
Distributions to noncontrolling interests		(8,467)								(299)	(299)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests		1,056			1,156						1,156
Adjustments to redemption amount of redeemable noncontrolling interests		1,443							(1,443)		(1,443)
Temporary Equity, Other Changes	1,142
Ending Balance, Redeemable Noncontrolling Interests at Jan. 31, 2024		365,865
Starting Balance at Oct. 31, 2024	3,697,406		550	838	599,399	7,272	(7,272)	(26,076)	3,062,166	60,529	3,697,406
Stockholders' Equity [Roll Forward]
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	140,445							(27,510)	167,955
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	12,308	7,573								4,735
Comprehensive income	152,753										145,180
Cash dividends									(15,272)		(15,272)
Stock Issued During Period, Value, Acquisitions				1	10,122						10,123
Issuance of common stock to Savings and Investment Plan					2,679						2,679
Share-based compensation expense					4,671						4,671
Proceeds from stock option exercises											1,597
Proceeds from stock option exercises, Adjustment to Additional Paid in Capital					1,597
Stock Redeemed or Called During Period, Value					(95)						(95)
Distributions to noncontrolling interests		(8,886)								(1,063)	(1,063)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests		(3,258)
Adjustments to redemption amount of redeemable noncontrolling interests		34,586							(34,586)		(34,586)
Adjustments to Additional Paid in Capital, Other					249						88
Stockholders' Equity, Other									(161)
Ending Balance at Jan. 31, 2025	3,810,728		$ 550	$ 839	$ 618,622	$ 7,272	$ (7,272)	$ (53,586)	3,180,102	64,201	3,810,728
Starting Balance, Redeemable Noncontrolling Interests at Oct. 31, 2024	366,156	366,156
Temporary Equity [Roll Forward]
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest	12,308	7,573								4,735
Noncontrolling Interest, Increase from Business Combination	27,912
Distributions to noncontrolling interests		(8,886)								$ (1,063)	(1,063)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests		3,258
Adjustments to redemption amount of redeemable noncontrolling interests		34,586							$ (34,586)		$ (34,586)
Ending Balance, Redeemable Noncontrolling Interests at Jan. 31, 2025	$ 424,083	$ 424,083

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND COMPREHENSIVE INCOME - UNAUDITED [PARENTHETICAL] - $ / shares	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Cash dividends per share (in dollars per share)	$ 0.11	$ 0.10

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Operating Activities:
Net income from consolidated operations	$ 181,566	$ 125,482
Adjustments to reconcile net income from consolidated operations to net cash provided by (used in) operating activities:
Depreciation and amortization	46,225	43,505
Employer contributions to HEICO Savings and Investment Plan	5,473	5,665
Share-based compensation expense	4,671	4,881
Change in value of contingent consideration	3,288	1,095
Deferred income tax provision (benefit)	(7,052)	(3,759)
PaymentofContingentConsiderationinExcessofAcquisitionDateValue	(2,190)	(6,203)
Changes in operating assets and liabilities, net of acquisitions:
Change in accounts receivable	20,062	38,940
Increase (Decrease) in Contract with Customer, Asset	(5,949)	4,560
Change in inventories	(36,207)	(49,846)
Change in prepaid expenses and other current assets	(955)	(15,784)
Change in trade accounts payable	10,389	(11,609)
Change in accrued expenses and other current liabilities	(63,898)	(50,450)
Change in income taxes payable	16,887	12,345
Increase (Decrease) in Obligation, Other Postretirement Benefits	13,022	14,753
Other	17,702	(1,923)
Net cash provided by operating activities	203,034	111,652
Investing Activities:
Acquisitions, net of cash acquired	(254,763)	(46,208)
Capital expenditures	(17,335)	(13,377)
Net Investment Related to Deferred Compensation Plan	(14,600)	(12,710)
Other	(1,297)	1,156
Net cash used in investing activities	(287,995)	(71,139)
Financing Activities:
Proceeds from Long-term Lines of Credit	145,000	50,000
Payments on revolving credit facility	(20,000)	(15,000)
Cash dividends paid	(15,272)	(13,831)
Distributions to noncontrolling interests	(10,236)	(8,766)
Payment of Contingent Consideration	(5,954)	(13,797)
Payments for Repurchase of Redeemable Noncontrolling Interest	(3,258)	(2,212)
Repayments of Short-Term Debt		(13,924)
Common Stock Issued Repurchased and Retired Related To Stock Option Exercises	(95)	(601)
Proceeds from stock option exercises	1,597	2,254
Other	(1,070)	(852)
Net cash (used in) provided by financing activities	90,712	(16,729)
Effect of exchange rate changes on cash	(2,387)	1,491
Net (decrease) increase in cash and cash equivalents	3,364	25,275
Cash and cash equivalents at beginning of year	162,103	171,048
Cash and cash equivalents at end of period	$ 165,467	$ 196,323

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jan. 31, 2025
Accounting Policies [Abstract]
Summary of Significant Accounting Policies [Text Block]	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements of HEICO Corporation and its subsidiaries (collectively, “HEICO,” or the “Company”) have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q. Therefore, the condensed consolidated financial statements do not include all information and footnotes normally included in annual consolidated financial statements and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2024. The October 31, 2024 Condensed Consolidated Balance Sheet has been derived from the Company’s audited consolidated financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments (consisting principally of normal recurring accruals) necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations, statements of comprehensive income, statements of shareholders' equity and statements of cash flows for such interim periods presented. The results of operations for the three months ended January 31, 2025 are not necessarily indicative of the results which may be expected for the entire fiscal year. The Company has two operating segments: the Flight Support Group (“FSG”), consisting of HEICO Aerospace Holdings Corp. and HEICO Flight Support Corp. ("HFSC") and their respective subsidiaries; and the Electronic Technologies Group (“ETG”), consisting of HEICO Electronic Technologies Corp. and its subsidiaries. New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. The ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment's profit or loss in assessing segment performance and deciding how to allocate resources. Additionally, ASU 2023-07 requires all segment profit or loss and assets disclosures to be provided on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, or in fiscal 2025 for HEICO, and interim periods within fiscal years beginning one year later. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires disclosure of specific categories in the annual effective tax rate reconciliation table and further disaggregation for reconciling items that meet a quantitative threshold. The ASU also requires the disaggregation of income taxes paid by jurisdiction. ASU 2023-09 may be applied either prospectively or retrospectively and is effective for fiscal years beginning after December 15, 2024, or in fiscal 2026 for HEICO. Early adoption is permitted. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires more detailed disclosures about specified categories of expenses (including purchases of inventory, employee compensation, intangible asset amortization, and depreciation) included in certain expense captions presented on the face of the income statement (such as cost of sales and SG&A expenses). ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, or in fiscal 2028 for HEICO, and interim reporting periods within fiscal years beginning one year later. Early adoption is permitted. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures.

ACQUISITIONS	3 Months Ended
ACQUISITIONS	Jan. 31, 2025
Business Combinations [Abstract]
Asset Acquisition	ACQUISITIONS In November 2024, the Company, through HEICO Electronic, acquired 70% of the stock of SVM Private Limited (“SVM”). SVM designs and manufactures high-performance electronic passive components and subsystems, including critical magnetic components and busbars, that serve the healthcare and industrial end-markets. The remaining 30% interest continues to be owned by a certain member of SVM's management team. See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information. The purchase price of this acquisition was paid in cash using cash provided by operating activities and is not material or significant to the Company's condensed consolidated financial statements. In December 2024, the Company, through a subsidiary of HFSC, entered into an exclusive license agreement and acquired certain assets to support the Boeing 777 AIMS (Airplane Information Management System) and Boeing 737NG/P-8/E-7 VIA (Versatile Integrated Avionics) product lines from Honeywell International. Honeywell's AIMS for the Boeing 777 and VIA for the Boeing 737NG/P-8/E-7 are integrated avionics systems providing cockpit displays, maintenance diagnostics, and flight management functions. The transaction provides the HFSC subsidiary with the exclusive capability to produce, sell, and repair Boeing 777 AIMS and Boeing 737NG/P-8/E-7 VIA hardware systems. The purchase price of this acquisition was paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, and is not material or significant to the Company's condensed consolidated financial statements. In January 2025, the Company, through a subsidiary of HFSC, acquired 90% of the membership interests of Millennium International, LLC ("Millennium"). Millennium is an FAA and EASA-certified Part 145 Repair Station, specializing in the repair and support of new generation and legacy avionics systems and components. Millennium offers comprehensive repair, overhaul, retrofit, and exchange services to its customers that include aircraft OEMs, fleet operators, repair businesses, and avionics brokers. The remaining 10% interest continues to be owned by certain members of Millennium’s management team. See Note 3, Selected Financial Statement Information - Redeemable Noncontrolling Interests, for additional information. The total consideration includes an accrual of $11.5 million as of the acquisition date representing the estimated fair value of contingent consideration the Company may be obligated to pay should Millennium meet a certain earnings objective following the acquisition. See Note 8, Fair Value Measurements, for additional information regarding the Company’s contingent consideration obligation. The purchase price of this acquisition was principally paid in cash using proceeds from the Company's revolving credit facility and cash provided by operating activities, as well as through the issuance of 53,186 shares of HEICO Class A Common Stock. The allocation of the total consideration for the fiscal 2025 acquisitions to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed is preliminary until the Company obtains final information regarding their fair values. However, the Company does not expect any adjustment to such allocation to be material to the Company's consolidated financial statements. The operating results of the fiscal 2025 acquisitions were included in the Company’s results of operations as of each effective acquisition date. The amount of net sales and earnings of the fiscal 2025 acquisitions included in the Condensed Consolidated Statement of Operations for the three months ended January 31, 2025 is not material. Had the fiscal 2025 acquisitions occurred as of November 1, 2023, net sales, net income from consolidated operations, net income attributable to HEICO, and basic and diluted net income per share attributable to HEICO shareholders on a pro forma basis for the three months ended January 31, 2025 and 2024 would not have been materially different than the reported amounts.

SELECTED FINANCIAL STATEMENT INFORMATION

3 Months Ended

Jan. 31, 2025

Selected Financial Statement Information [Abstract]

Selected Financial Statement Information [Text Block]

SELECTED FINANCIAL STATEMENT INFORMATION

Accounts Receivable


(in thousands)	January 31, 2025	October 31, 2024
Accounts receivable	$533,095	$550,281
Less: Allowance for doubtful accounts	(9,827)	(11,794)
Accounts receivable, net	$523,268	$538,487

Inventories


(in thousands)	January 31, 2025	October 31, 2024
Finished products	$700,599	$684,578
Work in process	101,670	99,107
Materials, parts, assemblies and supplies	416,442	387,264
Inventories, net of valuation reserves	$1,218,711	$1,170,949

Property, Plant and Equipment


(in thousands)	January 31, 2025	October 31, 2024
Land	$19,744	$19,974
Buildings and improvements	222,272	217,554
Machinery, equipment and tooling	438,350	422,500
Construction in progress	36,287	35,432
	716,653	695,460
Less: Accumulated depreciation and amortization	(367,815)	(356,426)
Property, plant and equipment, net	$348,838	$339,034

Accrued Customer Rebates and Credits

Research and Development Expenses

The amount of new product research and development ("R&D") expenses included in cost of sales for the three months ended January 31, 2025 and 2024 is as follows (in thousands):


	Three months ended January 31,
	2025	2024
R&D expenses	$27,605	$25,096

Redeemable Noncontrolling Interests


	January 31, 2025	October 31, 2024
Redeemable at fair value	$337,121	$306,143
Redeemable based on a multiple of future earnings	86,962	60,013
Redeemable noncontrolling interests	$424,083	$366,156

Accumulated Other Comprehensive Loss

Changes in the components of accumulated other comprehensive loss for the three months ended January 31, 2025 are as follows (in thousands):


	Foreign Currency Translation	Defined Benefit Pension Plan	Accumulated Other Comprehensive Loss
Balances as of October 31, 2024	($25,667)	($409)	($26,076)
Unrealized loss	(27,511)	—	(27,511)
Amortization of unrealized loss	—	1	1
Balances as of January 31, 2025	($53,178)	($408)	($53,586)

GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Jan. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill by operating segment for the three months ended January 31, 2025 are as follows (in thousands):


	Segment		Consolidated Totals
	FSG	ETG
Balances as of October 31, 2024	$1,882,558	$1,497,737	$3,380,295
Goodwill acquired	112,088	14,759	126,847
Foreign currency translation adjustments	(2,298)	(13,103)	(15,401)
Adjustments to goodwill	(184)	(85)	(269)
Balances as of January 31, 2025	$1,992,164	$1,499,308	$3,491,472

Identifiable intangible assets consist of the following (in thousands):


	As of January 31, 2025			As of October 31, 2024
	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount
Amortizing Assets:
Customer relationships	$1,077,828	($314,445)	$763,383	$1,013,847	($307,531)	$706,316
Intellectual property	523,823	(142,090)	381,733	471,516	(137,188)	334,328
Other	8,573	(7,790)	783	8,575	(7,708)	867
	1,610,224	(464,325)	1,145,899	1,493,938	(452,427)	1,041,511
Non-Amortizing Assets:
Trade names	300,717	—	300,717	293,263	—	293,263
	$1,910,941	($464,325)	$1,446,616	$1,787,201	($452,427)	$1,334,774

DEBT

3 Months Ended

Jan. 31, 2025

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

LONG-TERM DEBT

Long-term debt consists of the following (in thousands):


	January 31, 2025	October 31, 2024
Borrowings under revolving credit facility	$1,140,000	$1,015,000
2028 senior unsecured notes	600,000	600,000
2033 senior unsecured notes	600,000	600,000
Finance leases and notes payable	24,949	26,133
Less: Debt discount and debt issuance costs	(11,318)	(11,759)
	2,353,631	2,229,374
Less: Current maturities of long-term debt	(3,950)	(4,107)
	$2,349,681	$2,225,267

Revolving Credit Facility

Senior Unsecured Notes


	January 31, 2025		October 31, 2024
	Carrying Value	Fair Value	Carrying Value	Fair Value
2028 Notes	$595,552	$607,777	$595,267	$609,376
2033 Notes	593,130	599,848	592,974	605,917
Total	$1,188,682	$1,207,625	$1,188,241	$1,215,293

REVENUE

3 Months Ended

Jan. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE

Contract Balances

Changes in the Company’s contract assets and liabilities for the three months ended January 31, 2025 are as follows (in thousands):


	January 31, 2025	October 31, 2024	Change
Contract assets, current	$118,213	$112,235	$5,978

Contract liabilities, current	77,429	83,903	(6,474)
Contract liabilities, long-term	77,858	61,843	16,015
Total contract liabilities	155,287	145,746	9,541

Net contract (liabilities) assets	($37,074)	($33,511)	($3,563)

The increase in the Company's total contract liabilities during the first quarter of fiscal 2025 principally reflects the receipt of advance deposits on certain customer contracts, mainly at the FSG.

The amount of revenue that the Company recognized during the first quarter of fiscal 2025 that was included in contract liabilities as of the beginning of fiscal 2025 was $35.8 million.

Remaining Performance Obligations

Disaggregation of Revenue

The following table summarizes the Company’s net sales by product line for each operating segment (in thousands):


	Three months ended January 31,
	2025	2024
Flight Support Group:
Aftermarket replacement parts (1)	$456,028	$395,154
Repair and overhaul parts and services (2)	155,449	135,582
Specialty products (3)	101,697	87,980
Total net sales	713,174	618,716

Electronic Technologies Group:
Electronic component parts primarily for defense, space and aerospace equipment (4)	263,622	220,646
Electronic component parts for equipment in various other industries (5)	66,693	65,296
Total net sales	330,315	285,942

Intersegment sales	(13,267)	(8,295)

Total consolidated net sales	$1,030,222	$896,363

(1) Includes various jet engine and aircraft component replacement parts.

The following table summarizes the Company’s net sales by industry for each operating segment (in thousands):


	Three months ended January 31,
	2025	2024
Flight Support Group:
Aerospace	$533,621	$461,241
Defense and Space	165,889	138,772
Other (1)	13,664	18,703
Total net sales	713,174	618,716

Electronic Technologies Group:
Defense and Space	170,741	135,776
Other (2)	98,962	100,610
Aerospace	60,612	49,556
Total net sales	330,315	285,942

Intersegment sales	(13,267)	(8,295)

Total consolidated net sales	$1,030,222	$896,363

(1) Principally industrial products.

(2) Principally other electronics and medical products.

INCOME TAXES	3 Months Ended
INCOME TAXES	Jan. 31, 2025
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	INCOME TAXES The Company's effective tax rate decreased to 7.0% in the first quarter of fiscal 2025, down from 11.8% in the first quarter of fiscal 2024. The decrease in the Company's effective tax rate principally reflects a larger tax benefit from stock option exercises recognized in the first quarter of fiscal 2025. The Company recognized a discrete tax benefit from stock option exercises in both the first quarter of fiscal 2025 and 2024 of $27.2 million and $13.6 million, respectively.

FAIR VALUE MEASUREMENTS

3 Months Ended

Jan. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

FAIR VALUE MEASUREMENTS

The Company's assets and liabilities that were measured at fair value on a recurring basis are set forth by level within the fair value hierarchy in the following tables (in thousands):


	As of January 31, 2025
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Total
Assets:
Deferred compensation plan:
Corporate-owned life insurance	$—	$326,491	$—	$326,491
Money market fund	18,027	—	—	18,027
Total assets	$18,027	$326,491	$—	$344,518

Liabilities:
Contingent consideration	$—	$—	$36,514	$36,514


	As of October 31, 2024
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Total
Assets:
Deferred compensation plan:
Corporate-owned life insurance	$—	$313,794	$—	$313,794
Money market fund	3,365	—	—	3,365
Total assets	$3,365	$313,794	$—	$317,159

Liabilities:
Contingent consideration	$—	$—	$30,207	$30,207

The following unobservable inputs were used to derive the estimated fair value of the Company's Level 3 contingent consideration liabilities as of January 31, 2025 ($ in thousands):


		Unobservable		Weighted
Acquisition Date	Fair Value	Input	Range	Average (1)
1-31-2025	$11,457	Compound annual revenue growth rate	5% - 22%	17%
		Discount rate	7.6% - 7.6%	7.6%

7-18-2022	22,697	Compound annual revenue growth rate	5% - 10%	9%
		Discount rate	7.6% - 7.6%	7.6%

3-17-2022	2,360	Compound annual revenue growth rate	1% - 5%	4%
		Discount rate	8.1% - 8.1%	8.1%

(1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.


						Liabilities
Balance as of October 31, 2024						$30,207
Contingent consideration related to an acquisition						11,457
Payment of contingent consideration						(8,144)
Increase in accrued contingent consideration						3,288
Foreign currency transaction adjustments						(294)
Balance as of January 31, 2025						$36,514

NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS

3 Months Ended

Jan. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS

The computation of basic and diluted net income per share attributable to HEICO shareholders is as follows (in thousands, except per share data):


	Three months ended January 31,
	2025	2024
Numerator:
Net income attributable to HEICO	$167,955	$114,698

Denominator:
Weighted average common shares outstanding - basic	138,837	138,265
Effect of dilutive stock options	1,647	1,628
Weighted average common shares outstanding - diluted	140,484	139,893

Net income per share attributable to HEICO shareholders:
Basic	$1.21	$.83
Diluted	$1.20	$.82

Anti-dilutive stock options excluded	53	1,422

OPERATING SEGMENTS

3 Months Ended

Jan. 31, 2025

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

OPERATING SEGMENTS

Information on the Company’s two operating segments, the FSG and the ETG, for the three months ended January 31, 2025 and 2024 is as follows (in thousands):


			Other, Primarily Corporate and Intersegment (1)	Consolidated Totals
	Segment
	FSG	ETG
Three months ended January 31, 2025:
Net sales	$713,174	$330,315	($13,267)	$1,030,222
Depreciation	6,578	5,969	501	13,048
Amortization	19,254	13,531	392	33,177
Operating income	166,116	76,456	(15,767)	226,805
Capital expenditures	10,246	7,089	—	17,335

Three months ended January 31, 2024:
Net sales	$618,716	$285,942	($8,295)	$896,363
Depreciation	6,487	5,539	304	12,330
Amortization	17,857	12,926	392	31,175
Operating income	136,091	55,328	(11,209)	180,210
Capital expenditures	6,732	6,174	471	13,377

(1) Intersegment activity principally consists of net sales from the ETG to the FSG.

Total assets by operating segment are as follows (in thousands):


			Other, Primarily Corporate	Consolidated Totals
	Segment
	FSG	ETG
Total assets as of January 31, 2025	$4,523,480	$2,961,755	$405,476	$7,890,711
Total assets as of October 31, 2024	4,264,360	2,981,326	347,136	7,592,822

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Jan. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

COMMITMENTS AND CONTINGENCIES

Guarantees

Product Warranty

Changes in the Company’s product warranty liability for the three months ended January 31, 2025 and 2024 are as follows (in thousands):


	Three months ended January 31,
	2025	2024
Balances as of beginning of fiscal year	$4,036	$3,847
Accruals for warranties	592	790
Acquired warranty liabilities	100	—
Warranty claims settled	(697)	(834)
Balances as of January 31	$4,031	$3,803

Litigation

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Pay vs Performance Disclosure
Net income attributable to HEICO	$ 167,955	$ 114,698

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jan. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jan. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation [Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of HEICO Corporation and its subsidiaries (collectively, “HEICO,” or the “Company”) have been prepared in conformity with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10-Q. Therefore, the condensed consolidated financial statements do not include all information and footnotes normally included in annual consolidated financial statements and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2024. The October 31, 2024 Condensed Consolidated Balance Sheet has been derived from the Company’s audited consolidated financial statements. In the opinion of management, the unaudited condensed consolidated financial statements contain all adjustments (consisting principally of normal recurring accruals) necessary for a fair presentation of the condensed consolidated balance sheets, statements of operations, statements of comprehensive income, statements of shareholders' equity and statements of cash flows for such interim periods presented. The results of operations for the three months ended January 31, 2025 are not necessarily indicative of the results which may be expected for the entire fiscal year. The Company has two operating segments: the Flight Support Group (“FSG”), consisting of HEICO Aerospace Holdings Corp. and HEICO Flight Support Corp. ("HFSC") and their respective subsidiaries; and the Electronic Technologies Group (“ETG”), consisting of HEICO Electronic Technologies Corp. and its subsidiaries.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. The ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment's profit or loss in assessing segment performance and deciding how to allocate resources. Additionally, ASU 2023-07 requires all segment profit or loss and assets disclosures to be provided on an annual and interim basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, or in fiscal 2025 for HEICO, and interim periods within fiscal years beginning one year later. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” which requires disclosure of specific categories in the annual effective tax rate reconciliation table and further disaggregation for reconciling items that meet a quantitative threshold. The ASU also requires the disaggregation of income taxes paid by jurisdiction. ASU 2023-09 may be applied either prospectively or retrospectively and is effective for fiscal years beginning after December 15, 2024, or in fiscal 2026 for HEICO. Early adoption is permitted. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which requires more detailed disclosures about specified categories of expenses (including purchases of inventory, employee compensation, intangible asset amortization, and depreciation) included in certain expense captions presented on the face of the income statement (such as cost of sales and SG&A expenses). ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, or in fiscal 2028 for HEICO, and interim reporting periods within fiscal years beginning one year later. Early adoption is permitted. The adoption of this guidance will not affect the Company's consolidated results of operations, financial position or cash flows and the Company is currently evaluating the effect the guidance will have on its disclosures.

SELECTED FINANCIAL STATEMENT INFORMATION (Tables)

3 Months Ended

Jan. 31, 2025

Selected Financial Statement Information [Abstract]

Schedule of Accounts Receivable [Table Text Block]

Accounts Receivable


(in thousands)	January 31, 2025	October 31, 2024
Accounts receivable	$533,095	$550,281
Less: Allowance for doubtful accounts	(9,827)	(11,794)
Accounts receivable, net	$523,268	$538,487

Schedule of Inventories [Table Text Block]

Inventories


(in thousands)	January 31, 2025	October 31, 2024
Finished products	$700,599	$684,578
Work in process	101,670	99,107
Materials, parts, assemblies and supplies	416,442	387,264
Inventories, net of valuation reserves	$1,218,711	$1,170,949

Schedule of Property, Plant and Equipment [Table Text Block]

Property, Plant and Equipment


(in thousands)	January 31, 2025	October 31, 2024
Land	$19,744	$19,974
Buildings and improvements	222,272	217,554
Machinery, equipment and tooling	438,350	422,500
Construction in progress	36,287	35,432
	716,653	695,460
Less: Accumulated depreciation and amortization	(367,815)	(356,426)
Property, plant and equipment, net	$348,838	$339,034

Schedule of Research and Development Expenses [Table Text Block]

The amount of new product research and development ("R&D") expenses included in cost of sales for the three months ended January 31, 2025 and 2024 is as follows (in thousands):


	Three months ended January 31,
	2025	2024
R&D expenses	$27,605	$25,096

Schedule of Redeemable Noncontrolling Interests [Table Text Block]

Management's estimate of the aggregate Redemption Amount of all Put Rights that the Company could be required to pay is as follows (in thousands):


	January 31, 2025	October 31, 2024
Redeemable at fair value	$337,121	$306,143
Redeemable based on a multiple of future earnings	86,962	60,013
Redeemable noncontrolling interests	$424,083	$366,156

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Changes in the components of accumulated other comprehensive loss for the three months ended January 31, 2025 are as follows (in thousands):


	Foreign Currency Translation	Defined Benefit Pension Plan	Accumulated Other Comprehensive Loss
Balances as of October 31, 2024	($25,667)	($409)	($26,076)
Unrealized loss	(27,511)	—	(27,511)
Amortization of unrealized loss	—	1	1
Balances as of January 31, 2025	($53,178)	($408)	($53,586)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

3 Months Ended

Jan. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

Changes in the carrying amount of goodwill by operating segment for the three months ended January 31, 2025 are as follows (in thousands):


	Segment		Consolidated Totals
	FSG	ETG
Balances as of October 31, 2024	$1,882,558	$1,497,737	$3,380,295
Goodwill acquired	112,088	14,759	126,847
Foreign currency translation adjustments	(2,298)	(13,103)	(15,401)
Adjustments to goodwill	(184)	(85)	(269)
Balances as of January 31, 2025	$1,992,164	$1,499,308	$3,491,472

Schedule Of Identifiable Intangible Assets [Table Text Block]

Identifiable intangible assets consist of the following (in thousands):


	As of January 31, 2025			As of October 31, 2024
	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount
Amortizing Assets:
Customer relationships	$1,077,828	($314,445)	$763,383	$1,013,847	($307,531)	$706,316
Intellectual property	523,823	(142,090)	381,733	471,516	(137,188)	334,328
Other	8,573	(7,790)	783	8,575	(7,708)	867
	1,610,224	(464,325)	1,145,899	1,493,938	(452,427)	1,041,511
Non-Amortizing Assets:
Trade names	300,717	—	300,717	293,263	—	293,263
	$1,910,941	($464,325)	$1,446,616	$1,787,201	($452,427)	$1,334,774

DEBT (Tables)

3 Months Ended

Jan. 31, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Long-term debt consists of the following (in thousands):


	January 31, 2025	October 31, 2024
Borrowings under revolving credit facility	$1,140,000	$1,015,000
2028 senior unsecured notes	600,000	600,000
2033 senior unsecured notes	600,000	600,000
Finance leases and notes payable	24,949	26,133
Less: Debt discount and debt issuance costs	(11,318)	(11,759)
	2,353,631	2,229,374
Less: Current maturities of long-term debt	(3,950)	(4,107)
	$2,349,681	$2,225,267

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments


	January 31, 2025		October 31, 2024
	Carrying Value	Fair Value	Carrying Value	Fair Value
2028 Notes	$595,552	$607,777	$595,267	$609,376
2033 Notes	593,130	599,848	592,974	605,917
Total	$1,188,682	$1,207,625	$1,188,241	$1,215,293

REVENUE (Tables)

3 Months Ended

Jan. 31, 2025

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability [Table Text Block]

Changes in the Company’s contract assets and liabilities for the three months ended January 31, 2025 are as follows (in thousands):


	January 31, 2025	October 31, 2024	Change
Contract assets, current	$118,213	$112,235	$5,978

Contract liabilities, current	77,429	83,903	(6,474)
Contract liabilities, long-term	77,858	61,843	16,015
Total contract liabilities	155,287	145,746	9,541

Net contract (liabilities) assets	($37,074)	($33,511)	($3,563)

Product Line [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

The following table summarizes the Company’s net sales by product line for each operating segment (in thousands):


	Three months ended January 31,
	2025	2024
Flight Support Group:
Aftermarket replacement parts (1)	$456,028	$395,154
Repair and overhaul parts and services (2)	155,449	135,582
Specialty products (3)	101,697	87,980
Total net sales	713,174	618,716

Electronic Technologies Group:
Electronic component parts primarily for defense, space and aerospace equipment (4)	263,622	220,646
Electronic component parts for equipment in various other industries (5)	66,693	65,296
Total net sales	330,315	285,942

Intersegment sales	(13,267)	(8,295)

Total consolidated net sales	$1,030,222	$896,363

(1) Includes various jet engine and aircraft component replacement parts.

Sales by Industry [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

The following table summarizes the Company’s net sales by industry for each operating segment (in thousands):


	Three months ended January 31,
	2025	2024
Flight Support Group:
Aerospace	$533,621	$461,241
Defense and Space	165,889	138,772
Other (1)	13,664	18,703
Total net sales	713,174	618,716

Electronic Technologies Group:
Defense and Space	170,741	135,776
Other (2)	98,962	100,610
Aerospace	60,612	49,556
Total net sales	330,315	285,942

Intersegment sales	(13,267)	(8,295)

Total consolidated net sales	$1,030,222	$896,363

(1) Principally industrial products.

(2) Principally other electronics and medical products.

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jan. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company's assets and liabilities that were measured at fair value on a recurring basis are set forth by level within the fair value hierarchy in the following tables (in thousands):


	As of January 31, 2025
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Total
Assets:
Deferred compensation plan:
Corporate-owned life insurance	$—	$326,491	$—	$326,491
Money market fund	18,027	—	—	18,027
Total assets	$18,027	$326,491	$—	$344,518

Liabilities:
Contingent consideration	$—	$—	$36,514	$36,514


	As of October 31, 2024
	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Total
Assets:
Deferred compensation plan:
Corporate-owned life insurance	$—	$313,794	$—	$313,794
Money market fund	3,365	—	—	3,365
Total assets	$3,365	$313,794	$—	$317,159

Liabilities:
Contingent consideration	$—	$—	$30,207	$30,207

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

The following unobservable inputs were used to derive the estimated fair value of the Company's Level 3 contingent consideration liabilities as of January 31, 2025 ($ in thousands):


		Unobservable		Weighted
Acquisition Date	Fair Value	Input	Range	Average (1)
1-31-2025	$11,457	Compound annual revenue growth rate	5% - 22%	17%
		Discount rate	7.6% - 7.6%	7.6%

7-18-2022	22,697	Compound annual revenue growth rate	5% - 10%	9%
		Discount rate	7.6% - 7.6%	7.6%

3-17-2022	2,360	Compound annual revenue growth rate	1% - 5%	4%
		Discount rate	8.1% - 8.1%	8.1%

(1) Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]


						Liabilities
Balance as of October 31, 2024						$30,207
Contingent consideration related to an acquisition						11,457
Payment of contingent consideration						(8,144)
Increase in accrued contingent consideration						3,288
Foreign currency transaction adjustments						(294)
Balance as of January 31, 2025						$36,514

NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS (Tables)

3 Months Ended

Jan. 31, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The computation of basic and diluted net income per share attributable to HEICO shareholders is as follows (in thousands, except per share data):


	Three months ended January 31,
	2025	2024
Numerator:
Net income attributable to HEICO	$167,955	$114,698

Denominator:
Weighted average common shares outstanding - basic	138,837	138,265
Effect of dilutive stock options	1,647	1,628
Weighted average common shares outstanding - diluted	140,484	139,893

Net income per share attributable to HEICO shareholders:
Basic	$1.21	$.83
Diluted	$1.20	$.82

Anti-dilutive stock options excluded	53	1,422

OPERATING SEGMENTS (Tables)

3 Months Ended

Jan. 31, 2025

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information By Segment [Table Text Block]

Information on the Company’s two operating segments, the FSG and the ETG, for the three months ended January 31, 2025 and 2024 is as follows (in thousands):


			Other, Primarily Corporate and Intersegment (1)	Consolidated Totals
	Segment
	FSG	ETG
Three months ended January 31, 2025:
Net sales	$713,174	$330,315	($13,267)	$1,030,222
Depreciation	6,578	5,969	501	13,048
Amortization	19,254	13,531	392	33,177
Operating income	166,116	76,456	(15,767)	226,805
Capital expenditures	10,246	7,089	—	17,335

Three months ended January 31, 2024:
Net sales	$618,716	$285,942	($8,295)	$896,363
Depreciation	6,487	5,539	304	12,330
Amortization	17,857	12,926	392	31,175
Operating income	136,091	55,328	(11,209)	180,210
Capital expenditures	6,732	6,174	471	13,377

(1) Intersegment activity principally consists of net sales from the ETG to the FSG.

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

Total assets by operating segment are as follows (in thousands):


			Other, Primarily Corporate	Consolidated Totals
	Segment
	FSG	ETG
Total assets as of January 31, 2025	$4,523,480	$2,961,755	$405,476	$7,890,711
Total assets as of October 31, 2024	4,264,360	2,981,326	347,136	7,592,822

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Jan. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

Changes in the Company’s product warranty liability for the three months ended January 31, 2025 and 2024 are as follows (in thousands):


	Three months ended January 31,
	2025	2024
Balances as of beginning of fiscal year	$4,036	$3,847
Accruals for warranties	592	790
Acquired warranty liabilities	100	—
Warranty claims settled	(697)	(834)
Balances as of January 31	$4,031	$3,803

ACQUISITIONS (Details Textuals) $ in Thousands	3 Months Ended
ACQUISITIONS (Details Textuals) $ in Thousands	Jan. 31, 2025 USD ($) shares
SVM \| Heico Electronic Technologies Corp
Business Acquisition [Line Items]
Business Acquisition, Name of Acquired Entity	SVM Private Limited
Business Acquisition, Percentage of Voting Interests Acquired	70.00%
Business Acquisition, Description of Acquired Entity	SVM designs and manufactures high-performance electronic passive components and subsystems, including critical magnetic components and busbars, that serve the healthcare and industrial end-markets.
SVM \| Heico Electronic Technologies Corp \| Existing Management
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	30.00%
Millennium \| HFSC
Business Acquisition [Line Items]
Business Acquisition, Name of Acquired Entity	Millennium International, LLC
Business Acquisition, Percentage of Voting Interests Acquired	90.00%
Business Acquisition, Description of Acquired Entity	Millennium is an FAA and EASA-certified Part 145 Repair Station, specializing in the repair and support of new generation and legacy avionics systems and components. Millennium offers comprehensive repair, overhaul, retrofit, and exchange services to its customers that include aircraft OEMs, fleet operators, repair businesses, and avionics brokers.
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High \| $	$ 11,500
Stock Issued During Period, Shares, Acquisitions \| shares	53,186
Millennium \| HFSC \| Existing Management
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	10.00%

SELECTED FINANCIAL STATEMENT INFORMATION (Accounts Receivable) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 533,095	$ 550,281
Less: Allowance for doubtful accounts	(9,827)	(11,794)
Accounts receivable, net	$ 523,268	$ 538,487

SELECTED FINANCIAL STATEMENT INFORMATION (Inventories) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Inventory [Line Items]
Finished products	$ 700,599	$ 684,578
Work in process	101,670	99,107
Materials, parts, assemblies and supplies	416,442	387,264
Inventories, net of valuation reserves	$ 1,218,711	$ 1,170,949

SELECTED FINANCIAL STATEMENT INFORMATION (Property, Plant and Equipment) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Property, Plant and Equipment [Line Items]
Land	$ 19,744	$ 19,974
Buildings and improvements	222,272	217,554
Machinery, equipment and tooling	438,350	422,500
Construction in progress	36,287	35,432
Property, plant and equipment, gross	716,653	695,460
Less: Accumulated depreciation and amortization	(367,815)	(356,426)
Property, plant and equipment, net	$ 348,838	$ 339,034

SELECTED FINANCIAL STATEMENT INFORMATION (Research and Development Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2023
Selected Financial Statement Information (Details) [Abstract]
R&D expenses	$ 27,605	$ 25,096

SELECTED FINANCIAL STATEMENT INFORMATION (Redeemable Noncontrolling Interests) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Redeemable Noncontrolling Interest [Line Items]
Redeemable at fair value	$ 337,121	$ 306,143
Redeemable based on a multiple of future earnings	86,962	60,013
Redeemable noncontrolling interests	$ 424,083	$ 366,156

SELECTED FINANCIAL STATEMENT INFORMATION (Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Accumulated Other Comprehensive Income (Loss) [Line Items]
Start, Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax, Beginning Balance	$ (25,667)
Start, Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(409)
Starting accumulated other comprehensive loss	(26,076)
Unrealized gain (loss)	(27,511)
Amortization of unrealized loss on defined benefit pension plan, net of tax	1	$ 13
Ending, Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax, Ending Balance	(53,178)
Ending, Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(408)
Ending accumulated other comprehensive loss	(53,586)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gain (loss)	(27,511)
Pension Benefit Obligation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of unrealized loss on defined benefit pension plan, net of tax	$ 1

SELECTED FINANCIAL STATEMENT INFORMATION (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024	Oct. 31, 2024
Selected Financial Statement Information (Details) [Abstract]
Accrued customer rebates and credits	$ 28,300		$ 24,300
Total customer rebates and credits deducted within net sales	$ 4,300	$ 3,500
SVM \| Heico Electronic Technologies Corp
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	70.00%
FY 2015 Acquisition [Member] \| Flight Support Group [Member]
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	19.90%
Noncontrolling Interest, Ownership Percentage by Parent	95.03%
Millennium \| HFSC
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	90.00%

GOODWILL AND OTHER INTANGIBLE ASSETS (Goodwill) (Details) $ in Thousands	3 Months Ended
	Jan. 31, 2025 USD ($)
Goodwill [Line Items]
Opening Balance	$ 3,380,295
Goodwill acquired	126,847
Foreign currency translation adjustments	(15,401)
Adjustments to goodwill	(269)
Ending Balance	3,491,472
Flight Support Group [Member]
Goodwill [Line Items]
Opening Balance	1,882,558
Goodwill acquired	112,088
Foreign currency translation adjustments	(2,298)
Adjustments to goodwill	(184)
Ending Balance	1,992,164
Electronic Technologies Group [Member]
Goodwill [Line Items]
Opening Balance	1,497,737
Goodwill acquired	14,759
Foreign currency translation adjustments	(13,103)
Adjustments to goodwill	(85)
Ending Balance	$ 1,499,308

GOODWILL AND OTHER INTANGIBLE ASSETS (Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Acquired Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Finite-Lived Customer Relationships, Gross	$ 1,077,828	$ 1,013,847
Finite-Lived Intellectual Property, Gross	523,823	471,516
Other Finite-Lived Intangible Assets, Gross	8,573	8,575
Gross Carrying Amount	1,610,224	1,493,938
Indefinite-Lived Trade Names	300,717	293,263
Intangible Assets, Gross (Excluding Goodwill)	1,910,941	1,787,201
Accumulated Amortization	(464,325)	(452,427)
Net Carrying Amount	1,145,899	1,041,511
Intangible Asset Net Carrying Amount	1,446,616	1,334,774
Customer Relationships [Member]
Acquired Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Accumulated Amortization	(314,445)	(307,531)
Net Carrying Amount	763,383	706,316
Intellectual Property [Member]
Acquired Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Accumulated Amortization	(142,090)	(137,188)
Net Carrying Amount	381,733	334,328
Other Intangible Assets
Acquired Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Accumulated Amortization	(7,790)	(7,708)
Net Carrying Amount	$ 783	$ 867

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 101,000
Amortization expense related to intangible assets	32,200	$ 30,200
Estimated Amortization Expense, remainder of fiscal year	102,700
Estimated Amortization Expense, for fiscal 2026	131,700
Estimated Amortization Expense, for fiscal 2027	126,800
Estimated Amortization Expense, for fiscal 2028	120,400
Estimated Amortization Expense, for fiscal 2029	114,600
Estimated Amortization Expense, for fiscal 2030	107,700
Estimated Amortization Expense, thereafter	$ 442,000

DEBT (Long-term Debt) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Borrowings under revolving credit facility	$ 1,140,000	$ 1,015,000
Finance Leases and Note Payable	24,949	26,133
Debt Issuance Costs, Net	(11,318)	(11,759)
Total debt and capital leases	2,353,631	2,229,374
Long-Term Debt, Current Maturities	(3,950)	(4,107)
Long-term debt, net of current maturities	2,349,681	2,225,267
2028 Senior Notes
Senior Notes	600,000	600,000
2033 Senior Notes
Senior Notes	$ 600,000	$ 600,000

DEBT (Notes) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Debt Instrument [Line Items]
Senior Notes, Noncurrent	$ 1,188,682	$ 1,188,241
2028 Senior Notes
Debt Instrument [Line Items]
Senior Notes, Noncurrent	595,552	595,267
2033 Senior Notes
Debt Instrument [Line Items]
Senior Notes, Noncurrent	593,130	592,974
Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-Term Debt, Fair Value	1,207,625	1,215,293
Fair Value, Inputs, Level 2 [Member] \| 2028 Senior Notes
Debt Instrument [Line Items]
Long-Term Debt, Fair Value	607,777	609,376
Fair Value, Inputs, Level 2 [Member] \| 2033 Senior Notes
Debt Instrument [Line Items]
Long-Term Debt, Fair Value	$ 599,848	$ 605,917

DEBT (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
DEBT (Details Textuals) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024	Oct. 31, 2024
Senior Notes [Abstract]
Repayments of Short-Term Debt		$ 13,924
2028 Senior Notes
Senior Notes [Abstract]
Debt Instrument, Face Amount	$ 600,000
Debt Instrument, Interest Rate, Stated Percentage	5.25%
Debt Instrument, Maturity Date	Aug. 01, 2028
Debt Instrument, Payment Terms	Interest on the Notes is payable semi-annually in arrears on February 1 and August 1 of each year
Debt Instrument, Interest Rate, Effective Percentage	5.50%
2033 Senior Notes
Senior Notes [Abstract]
Debt Instrument, Face Amount	$ 600,000
Debt Instrument, Interest Rate, Stated Percentage	5.35%
Debt Instrument, Maturity Date	Aug. 01, 2033
Debt Instrument, Payment Terms	Interest on the Notes is payable semi-annually in arrears on February 1 and August 1 of each year
Debt Instrument, Interest Rate, Effective Percentage	5.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rate	6.10%		6.30%

REVENUE (Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Oct. 31, 2024
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract with Customer, Asset, before Allowance for Credit Loss, Current	$ 118,213	$ 112,235
Contract with Customer, Liability, Current	77,429	83,903
Contract with Customer, Liability, Noncurrent	77,858	61,843
Contract with Customer, Liability, Total	155,287	145,746
Net Contract Liabilities	(37,074)	$ (33,511)
Amount of Increase (Decrease) in Contract Assets	5,978
Amount of increase (decrease) in contract liabilities, current	(6,474)
Amount of increase (decrease) in contract liabilities, long-term	16,015
Amount of Increase (Decrease) in Contract Liabilities	9,541
Amount of Increase (Decrease) in Net Contract Assets	$ (3,563)

REVENUE (Disaggregation of Revenue, by Product Line) (Details) - USD ($)
$ in Thousands

3 Months Ended

Jan. 31, 2025

Jan. 31, 2024

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ 1,030,222

$ 896,363

Flight Support Group [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

713,174

618,716

Flight Support Group [Member] | Aftermarket Replacement Parts [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

456,028

395,154

Flight Support Group [Member] | Repair and Overhaul Parts and Services [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

155,449

135,582

Flight Support Group [Member] | Specialty Products [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[3]

101,697

87,980

Electronic Technologies Group [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

330,315

285,942

Electronic Technologies Group [Member] | Electronic Components for Defense, Space and Aerospace [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[4]

263,622

220,646

Electronic Technologies Group [Member] | Other Electronic Components [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[5]

66,693

65,296

Corporate And Eliminations [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (13,267)

$ (8,295)

[1]	Includes various jet engine and aircraft component replacement parts.
[2]	Includes primarily the sale of parts consumed in various repair and overhaul services on selected jet engine and aircraft components, avionics, instruments, composites and flight surfaces of commercial and military aircraft.
[3]	Includes primarily the sale of specialty components such as thermal insulation blankets, renewable/reusable insulation systems, advanced niche components, complex composite assemblies, expanded foil mesh as well as machining, brazing, fabricating and welding services generally to original equipment manufacturers, and emergency descent devices and personnel and cargo parachute products.
[4]	Includes various component parts such as electro-optical infrared simulation and test equipment, electro-optical laser products, electro-optical, microwave and other power equipment, high-speed interface products, power conversion products, power distribution solutions, underwater locator beacons, emergency locator transmission beacons, traveling wave tube amplifiers, microwave power modules, a wide variety of memory products and radio frequency (RF) and microwave products, crashworthy and ballistically self-sealing auxiliary fuel systems, high performance communications and electronic intercept receivers and tuners, high performance active antenna systems and airborne antennas, technical surveillance countermeasures (TSCM) equipment, custom high power filters and filter assemblies, radiation assurance services and products, and high-reliability, complex, passive electronic components and rotary joint assemblies, and proprietary in-cabin power and entertainment components and subsystems.
[5]	Includes various component parts such as electromagnetic and radio frequency interference shielding, high voltage interconnection devices, high voltage advanced power electronics, harsh environment connectivity products, custom molded cable assemblies, silicone material for a variety of demanding applications, and rugged small form-factor embedded computing solutions, and high performance test sockets and adaptors.

REVENUE (Disaggregation of Revenue, by Industry) (Details) - USD ($)
$ in Thousands

3 Months Ended

Jan. 31, 2025

Jan. 31, 2024

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ 1,030,222

$ 896,363

Flight Support Group [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

713,174

618,716

Flight Support Group [Member] | Aerospace [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

533,621

461,241

Flight Support Group [Member] | Defense and Space [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

165,889

138,772

Flight Support Group [Member] | Other Industries [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[1]

13,664

18,703

Electronic Technologies Group [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

330,315

285,942

Electronic Technologies Group [Member] | Aerospace [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

60,612

49,556

Electronic Technologies Group [Member] | Defense and Space [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

170,741

135,776

Electronic Technologies Group [Member] | Other Industries [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

^[2]

98,962

100,610

Corporate And Eliminations [Member]

Disaggregation of Revenue [Line Items]

Revenue from Contract with Customer, Excluding Assessed Tax

$ (13,267)

$ (8,295)

[1]	Principally industrial products.
[2]	Principally other electronics and medical products.

REVENUE (Details Textuals) $ in Thousands	3 Months Ended
REVENUE (Details Textuals) $ in Thousands	Jan. 31, 2025 USD ($)
REVENUE [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 35,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Amount	$ 1,945,300
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-02-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation, Amount	$ 1,076,100
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-11-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months 1 day
Revenue, Remaining Performance Obligation, Amount	$ 869,200

INCOME TAXES (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details Textuals) - USD ($) $ in Thousands	Jan. 31, 2025	Jan. 31, 2024
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	7.00%	11.80%
Tax benefit from stock option exercises recognized in the period	$ 27,200	$ 13,600

FAIR VALUE MEASUREMENTS (Fair Value Hierarchy, by Category) (Details) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Deferred Compensation Plans [Abstract]
Deferred compensation plans	$ 344,518	$ 317,159
Liabilities:
Contingent consideration	36,514	30,207
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	18,027	3,365
Liabilities:
Contingent consideration	0	0
Significant Other Observable Inputs (Level 2) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	326,491	313,794
Liabilities:
Contingent consideration	0	0
Significant Unobservable Inputs (Level 3) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	0	0
Liabilities:
Contingent consideration	36,514	30,207
Corporate Owned Life Insurance [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	326,491	313,794
Corporate Owned Life Insurance [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	0	0
Corporate Owned Life Insurance [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	326,491	313,794
Corporate Owned Life Insurance [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	0	0
Money Market Funds [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	18,027	3,365
Money Market Funds [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	18,027	3,365
Money Market Funds [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	0	0
Money Market Funds [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Deferred Compensation Plans [Abstract]
Deferred compensation plans	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Level 3 Valuation Inputs) (Details) - Fair Value, Inputs, Level 3 [Member]
$ in Thousands

Jan. 31, 2025

USD ($)

Oct. 31, 2024

USD ($)

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

$ 36,514

$ 30,207

FY2025 Acquisition Subsidiary 1

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

11,457

FY2022 Acquisition Subsidiary 1

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

22,697

FY2022 Acquisition Subsidiary 2

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

$ 2,360

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2025 Acquisition Subsidiary 1

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.17

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2025 Acquisition Subsidiary 1 | Minimum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.05

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2025 Acquisition Subsidiary 1 | Maximum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.22

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2022 Acquisition Subsidiary 1

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.09

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2022 Acquisition Subsidiary 1 | Minimum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.05

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2022 Acquisition Subsidiary 1 | Maximum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.10

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2022 Acquisition Subsidiary 2

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.04

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2022 Acquisition Subsidiary 2 | Minimum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.01

Measurement Input, Long-term Revenue Growth Rate [Member] | FY2022 Acquisition Subsidiary 2 | Maximum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.05

Measurement Input, Discount Rate [Member] | FY2025 Acquisition Subsidiary 1

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.076

Measurement Input, Discount Rate [Member] | FY2025 Acquisition Subsidiary 1 | Minimum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.076

Measurement Input, Discount Rate [Member] | FY2025 Acquisition Subsidiary 1 | Maximum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.076

Measurement Input, Discount Rate [Member] | FY2022 Acquisition Subsidiary 1

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.076

Measurement Input, Discount Rate [Member] | FY2022 Acquisition Subsidiary 1 | Minimum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.076

Measurement Input, Discount Rate [Member] | FY2022 Acquisition Subsidiary 1 | Maximum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.076

Measurement Input, Discount Rate [Member] | FY2022 Acquisition Subsidiary 2

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

^[1]

0.081

Measurement Input, Discount Rate [Member] | FY2022 Acquisition Subsidiary 2 | Minimum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.081

Measurement Input, Discount Rate [Member] | FY2022 Acquisition Subsidiary 2 | Maximum [Member]

Fair Value Measurement Inputs and Valuation Techniques [Line Items]

Business Combination, Contingent Consideration, Liability, Measurement Input

0.081

[1]	Unobservable inputs were weighted by the relative fair value of the contingent consideration liability.

FAIR VALUE MEASUREMENTS (Contingent Consideration Liability) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ (3,288)	$ (1,095)
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance, Liabilities	30,207
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)	11,457
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(8,144)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	3,288
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	(294)
Ending balance, Liabilities	$ 36,514

FAIR VALUE MEASUREMENTS (Details Textuals) $ in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2025 USD ($)	Jan. 31, 2025 CAD ($)	Jan. 31, 2024 USD ($)	Oct. 31, 2024 USD ($)
Fair Value Disclosures [Abstract]
Deferred Compensation Liability, Current and Noncurrent	$ 342,000			$ 315,000
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	36,514			$ 30,207
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 3,288		$ 1,095
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Selling, General and Administrative Expense	Selling, General and Administrative Expense
FY2025 Acquisition Subsidiary 1 \| Flight Support Group [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	90.00%
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 21,100
Business Combination, Contingent Consideration, Liability	$ 11,500
FY2022 Acquisition Subsidiary 1 \| Flight Support Group [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	96.00%
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 27,400
Business Combination, Contingent Consideration, Liability	$ 22,700
FY2022 Acquisition Subsidiary 2 \| Flight Support Group [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	74.00%
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 14,100
Business Combination, Contingent Consideration, Liability	$ 2,400
FY2020 Acquisition Subsidiary 1 \| Electronic Technologies Group [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	89.99%
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 8,100	$ 11,700

NET INCOME PER SHARE ATTRIBUTABLE TO HEICO SHAREHOLDERS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Numerator:
Net income attributable to HEICO	$ 167,955	$ 114,698
Denominator:
Weighted Average Number of Shares Outstanding, Basic	138,837	138,265
Effect of dilutive stock options	1,647	1,628
Weighted Average Number of Shares Outstanding, Diluted	140,484	139,893
Earnings Per Share, Basic	$ 1.21	$ 0.83
Earnings Per Share, Diluted	$ 1.20	$ 0.82
Anti-dilutive stock options excluded	53	1,422

OPERATING SEGMENTS (Details) - USD ($)
$ in Thousands

3 Months Ended

Jan. 31, 2025

Jan. 31, 2024

Segment Reporting Information [Line Items]

Revenues

$ 1,030,222

$ 896,363

Depreciation

13,048

12,330

Amortization

33,177

31,175

Operating income

226,805

180,210

Capital expenditures

17,335

13,377

Corporate And Eliminations [Member]

Segment Reporting Information [Line Items]

Revenues

^[1]

(13,267)

(8,295)

Depreciation

^[1]

501

304

Amortization

^[1]

392

Operating income

^[1]

(15,767)

(11,209)

Capital expenditures

^[1]

471

Flight Support Group [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Revenues

713,174

618,716

Depreciation

6,578

6,487

Amortization

19,254

17,857

Operating income

166,116

136,091

Capital expenditures

10,246

6,732

Electronic Technologies Group [Member] | Operating Segments [Member]

Segment Reporting Information [Line Items]

Revenues

330,315

285,942

Depreciation

5,969

5,539

Amortization

13,531

12,926

Operating income

76,456

55,328

Capital expenditures

$ 7,089

$ 6,174

[1]	Intersegment activity principally consists of net sales from the ETG to the FSG.

OPERATING SEGMENTS (Details 1) - USD ($) $ in Thousands	Jan. 31, 2025	Oct. 31, 2024
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 7,890,711	$ 7,592,822
Other Primarily Corporate and Intersegment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	405,476	347,136
Flight Support Group [Member] \| Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,523,480	4,264,360
Electronic Technologies Group [Member] \| Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 2,961,755	$ 2,981,326

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2025	Jan. 31, 2024
Schedule of Product Warranties [Line Items]
Balances as of beginning of fiscal year	$ 4,036	$ 3,847
Accruals for warranties	592	790
Acquired warranty liabilities	100
Warranty claims settled	(697)	(834)
Balances as of end of period	$ 4,031	$ 3,803

COMMITMENTS AND CONTINGENCIES (Details Textuals) $ in Thousands	Jan. 31, 2025 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 10,000

HEICO (NYSE:HEI.A)
과거 데이터 주식 차트
부터 2월(2) 2025 으로 3월(3) 2025

HEICO (NYSE:HEI.A)
과거 데이터 주식 차트
부터 3월(3) 2024 으로 3월(3) 2025

시장 데이터

뉴스

도구

시장

팔로우

Hot Features

피드 팔로우

실시간 옵션 플로우

모니터

HEI.A HEICO Corp

HEICO Corp News

최근 히스토리

회사 소개

사업

Popular

앱 받기

시장 데이터

뉴스

도구

시장

팔로우

Hot Features

피드 팔로우

실시간 옵션 플로우

모니터

HEI.A HEICO Corp

HEICO Corp News

최근 히스토리

회사 소개

사업

Popular

앱 받기

광고 제거