StandardAero, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data StandardAero, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2022	FY2024	FY2024	FY2025
Revenue	4,150	4,563	5,237	6,063
Cost of revenue	3,605	3,928	4,483	5,165
Gross profit	546	635	754	897
Selling, general and administrative	188	203	254	248
Operating income	263	337	403	551
Interest expense	243	310	283	174
Pre-tax income	22	5.12	81.8	377
Income tax	43	40.2	70.8	99.4
Net income	-21	-35.1	11	277
EBITDA	458	534	590	745
EPS, basic	-0.08	-0.13	0.04	0.84
EPS, diluted	-0.08	-0.13	0.04	0.83
Shares, basic (weighted)	275	275	288	328
Shares, diluted (weighted)	275	275	290	334

Balance sheet

	FY2022	FY2024	FY2024	FY2025
Cash and equivalents	120	58	103	290
Receivables		518	581	654
Inventory		699	847	828
Total current assets		2,136	2,485	2,896
Property, plant and equipment		522	569	580
Lease right-of-use assets		169	172	222
Goodwill	1,610	1,632	1,686	1,684
Intangible assets		1,296	1,296	1,165
Total assets		5,759	6,214	6,557
Accounts payable		469	646	680
Deferred revenue		356	400	411
Short-term debt		26.7	23.4	23.4
Total current liabilities		1,069	1,274	1,316
Long-term debt		3,172	2,208	2,191
Lease liabilities		159	164	212
Other non-current liabilities		26.2	24.6	7.26
Total liabilities		4,613	3,840	3,890
Total debt		3,199	2,231	2,215
Paid-in capital		2,725	3,945	3,958
Retained earnings		-1,574	-1,563	-1,286
Other comprehensive income		-6.96	-11.4	-8.17
Shareholders' equity	1,199	1,147	2,373	2,667
Total equity	1,199	1,147	2,373	2,667
Total liabilities and equity		5,759	6,214	6,557
Shares outstanding		281	334	334

Cash flow statement

	FY2022	FY2024	FY2024	FY2025
Net income	-21	-35.1	11	277
Depreciation and amortization	195	197	187	194
Stock-based compensation			17.4	13.2
Deferred income tax	-26.5	-19.8	-22.5	-15.8
Change in receivables	-102	18.7	-58.3	-73.7
Change in inventory	-53.1	-91.2	-138	19.3
Cash from operations	27.3	67.9	76.3	317
Capital expenditures	-41.2	-55.1	-103	-82.4
Acquisitions	-19.9	-31.1	-114
Cash from investing	-60.8	-113	-235	-106
Debt issued	145	1,480	3,247	715
Debt repaid	-169	-1,488	-4,236	-738
Cash from financing	-25.8	-14.7	204	-25.5
Exchange rate effect	-3.85	-2.43	-0.04	2.34
Net change in cash	-63.1	-62.1	44.6	187
Free cash flow	-14	12.8	-26.6	234
Interest paid	228	297	291	167
Income taxes paid	40.5	99.5	102	102

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $22.74 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	15.0%	Gross profit / revenue.
Operating margin	9.5%	Operating income / revenue.
EBITDA margin	12.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.8%	Pre-tax income / revenue.
Net margin	5.1%	Net income / revenue.
FCF margin	3.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.6%	Cash from operations / revenue.
Effective tax rate	25.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.7%	Net income / average total assets.
Return on invested capital (ROIC)	9.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	4.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.1%	Capital expenditures / revenue.
D&A / revenue	3.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	15.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	13.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y	19.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	18.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income growth, 1y	36.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	28.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	26.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	17.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	2,428.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	1,975.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	314.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	126.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	12.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	30.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	5.5%	Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y	15.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	6.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.13x	Current assets / current liabilities.
Quick ratio	0.70x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.13x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.84x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	33.9%	Total debt / total assets.
Liabilities / assets	59.8%	Total liabilities / total assets.
Net debt	$2.15B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.72x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.60x	Operating income / interest expense.
Working capital	$1.61B	Current assets - current liabilities.
Goodwill and intangibles / assets	43.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$244.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.92x	Revenue / average total assets.
Fixed asset turnover	10.7x	Revenue / average property, plant and equipment.
Inventory turnover	6.96x	Cost of revenue / average inventory.
Days inventory	52 days	365 x average inventory / cost of revenue.
Receivables turnover	7.75x	Revenue / average receivables.
Days sales outstanding	47 days	365 x average receivables / revenue.
Days payables	48 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	51 days	Days inventory + days sales outstanding - days payables.
FCF conversion	67.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	24.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.97	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$19.03	Revenue / diluted weighted shares.
FCF per share	$0.66	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.87	Cash from operations / diluted weighted shares.
Book value per share	$8.32	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.74	Tangible book value / shares outstanding.
Cash per share	$0.54	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$7.53B	Share price x shares outstanding.
Enterprise value	$9.67B	Market cap + total debt - cash - short-term investments.
P/E	23.2x	Market cap / net income. Only when net income is positive.
P/S	1.19x	Market cap / revenue.
P/B	2.73x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	34.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	25.9x	Market cap / cash from operations, when positive.
EV/Sales	1.53x	Enterprise value / revenue.
EV/EBIT	16.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	44.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.9%	Free cash flow / market cap.
Earnings yield	4.3%	Net income / market cap (the inverse of P/E).

What was StandardAero, Inc.'s revenue in fiscal 2025?

StandardAero, Inc. reported revenue of $6.06B for fiscal 2025, 15.8% higher than the year before.

Was StandardAero, Inc. profitable in fiscal 2025?

Yes. Net income was $277.4M, a net margin of 4.6%.

How much free cash flow did StandardAero, Inc. generate in fiscal 2025?

Cash from operations of $316.7M minus capital expenditures of $82.4M left free cash flow of $234.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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