StandardAero (SARO) financial statements
StandardAero reported revenue of $6.1B in fiscal 2025, up 13.5% a year over 3 years.
Net income was $277M and the operating margin 9.1%, against 6.3% in 2022.
Free cash flow was $234M.
The diluted share count rose 21% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from StandardAero's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $4.2B | $4.6B | $5.2B | $6.1B |
| Cost of revenue | $3.6B | $3.9B | $4.5B | $5.2B |
| Gross profit | $546M | $635M | $754M | $897M |
| Selling, general and admin | $188M | $203M | $254M | $248M |
| Operating income | $263M | $337M | $403M | $551M |
| Interest expense | $243M | $310M | $283M | $174M |
| Pre-tax income | $22M | $5M | $82M | $377M |
| Income tax | $43M | $40M | $71M | $99M |
| Net income | -$21M | -$35M | $11M | $277M |
| EPS (diluted) | -$0.08 | -$0.13 | $0.04 | $0.83 |
| Diluted shares | 275M | 275M | 290M | 334M |
| Gross margin | 13.1% | 13.9% | 14.4% | 14.8% |
| Operating margin | 6.3% | 7.4% | 7.7% | 9.1% |
| Net margin | -0.5% | -0.8% | 0.2% | 4.6% |
Balance sheet
Fiscal years, from StandardAero's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $120M | $58M | $103M | $290M |
| Receivables | — | $518M | $581M | $654M |
| Inventory | — | $699M | $847M | $828M |
| Total current assets | — | $2.1B | $2.5B | $2.9B |
| Property, plant and equipment | — | $522M | $569M | $580M |
| Goodwill | $1.6B | $1.6B | $1.7B | $1.7B |
| Total assets | — | $5.8B | $6.2B | $6.6B |
| Total current liabilities | — | $1.1B | $1.3B | $1.3B |
| Long-term debt | — | $3.2B | $2.2B | $2.2B |
| Total liabilities | — | $4.6B | $3.8B | $3.9B |
| Shareholders' equity | $1.2B | $1.1B | $2.4B | $2.7B |
| Net debt | -$120M | $3.1B | $2.1B | $1.9B |
Cash flow
Fiscal years, from StandardAero's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | $27M | $68M | $76M | $317M |
| Capital spending | $41M | $55M | $103M | $82M |
| Free cash flow | -$14M | $13M | -$27M | $234M |
| Stock-based compensation | — | — | $17M | $13M |
| Net borrowing | -$24M | -$9M | -$989M | -$23M |
| Free cash flow margin | -0.3% | 0.3% | -0.5% | 3.9% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for SARO.
Open SARO in InvestinglyQuestions
What was StandardAero's revenue in 2025?
$6.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does StandardAero generate?
$234M in fiscal 2025 (operating cash flow minus capital spending).
From StandardAero's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.