HEI-A — HEICO CORP SEC Filings

What Changed

Risk factors · Dec 19, 2024 → Dec 22, 2025

24 added · 11 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

Our future effective tax rate may be adversely affected by a number of factors, including the following: • Changes in statutory tax rates in any of the various jurisdictions where we file tax returns; • Changes in available tax credits or deductions; • Changes in tax laws or their interpretation, including amendments, technical corrections, and guidance related to the Tax Cuts and Jobs Act as well as to H.R.1, commonly referred to as the One Big Beautiful Bill Act (the “Act”).
We continue to monitor evolving data-privacy requirements and the use of emerging technologies, such as artificial intelligence, and maintain policies intended to promote their secure and responsible use.
For example, tariffs, duties or other trade policy changes affecting the import or export of raw materials or components could increase costs or limit availability.
We will continue to monitor the potential impact of future legislation and guidance and as more jurisdictions in which we conduct business implement Pillar Two legislation.
The Act has multiple effective dates and certain provisions became effective in fiscal 2025 while others will be phased in through fiscal 2028.
Electronic Technologies Group • For the design and manufacture of various types of electronic, data and microwave, and electro-optical equipment products, we compete in a fragmented marketplace with a number of companies, some of which are well capitalized.
CMMC requirements may change over time and could impose additional compliance obligations on us and our suppliers, and failure to meet applicable CMMC requirements could affect our ability to receive or perform certain defense-related contracts.
Also, our operations involve products and technologies subject to U.S. and international trade control laws, including the International Traffic in Arms Regulations (ITAR), the Export Administration Regulations (EAR), and economic sanctions administered by the Office of 24 Index Foreign Assets Control (OFAC).
The adoption of Pillar Two did not have a significant impact on our fiscal 2025 consolidated financial statements.
The Act became law on July 4, 2025 and introduced significant changes to U.S. tax law.
While the impact of these factors is difficult to predict, any one or more of these factors may have a material adverse effect on our business, financial condition and results of operations.
Department of Defense are also required to comply with applicable cybersecurity standards, including the Department of Defense’s Cybersecurity Maturity Model Certification (“CMMC”) program.

No longer disclosed

We currently do not expect Pillar Two will have a significant impact on our fiscal 2025 consolidated financial statements, but will continue to monitor the potential impact of future legislation and guidance.
The OECD has issued administrative guidance and safe harbor rules around the implementation of Pillar Two.
While the impact of these factors is difficult to predict, any one or more of these factors may have a material adverse effect on our business, financial condition and results of operations. 21 Index Cybersecurity events or other disruptions of our information technology systems could adversely affect our business.
These global industry and economic conditions may have a material adverse effect on our business, financial condition and results of operations. 23 Index The retirement or prolonged grounding of commercial aircraft could reduce our revenues and the value of any related inventory.
In addition, certain product sales to foreign countries of our Electronic Technologies Group and Flight Support Group require export approval or licensing from the United States ("U.S.") government.
Our results of operations may continue to reflect the adverse impact from the COVID-19 pandemic, including its impact on our supply chain and inflationary pressures.
Reductions in defense, space or homeland security spending by U.S. and/or foreign customers could reduce our revenues.
We are subject to the risks associated with sales to foreign customers, which could harm our business.
Our executive officers and directors have significant influence over our management and direction.
In fiscal 2024, our effective tax rate was 17.5%.

Insider Activity

In the 90 days to Mar 4, 2026: 1 insider bought $1000K.

Date	Insider	Action	Shares	Price	Value
Mar 4, 2026	Cheruvatath NandakumarDirector	Buy	4,082	$244.95	$1000K
Oct 21, 2025	Hildebrandt Mark HDirector	Buy	400	$248.76	$100K
Oct 10, 2025	Mendelson Eric ACo-COB and Co-CEO	Buy	676	$243.93	$165K
Oct 10, 2025	Neitzel JulieDirector	Buy	676	$243.93	$165K
Oct 10, 2025	Culligan Thomas MDirector	Buy	676	$243.93	$165K
Oct 10, 2025	Mendelson Victor HCo-COB and Co-CEO	Buy	676	$243.93	$165K
Oct 10, 2025	Hildebrandt Mark HDirector	Buy	676	$243.93	$165K
Oct 10, 2025	Henriques AdolfoDirector	Buy	676	$243.93	$165K
Oct 10, 2025	Fine Carol F.Director	Buy	672	$243.93	$164K
Oct 10, 2025	Schriesheim AlanDirector	Buy	672	$243.93	$164K

Open-market buys & sells (Form 4, transaction codes P/S). Source: SEC structured insider data.

HEICO CORP

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What Changed

Insider Activity