SAROMEDIUM SIGNALFINANCIAL10-K

SARO demonstrates solid operational performance with revenue growth and meaningfully improved profitability, while continuing post-IPO organizational restructuring.

The company shows healthy business momentum with revenue expanding across its aerospace services segments and operating leverage driving substantial margin improvement. The ongoing restructuring activities and debt refinancing suggest management is actively optimizing the capital structure following the recent public listing.

Comparing 2026-02-26 vs 2025-03-12View on EDGAR →
FINANCIAL ANALYSIS

SARO delivered strong financial results with revenue growing to $6.1B and operating income expanding notably to $551.1M, demonstrating effective operational leverage. Interest expense declined meaningfully to $174.2M, likely reflecting debt refinancing activities and improved capital structure management. The balance sheet strengthened modestly with current assets and stockholders' equity both increasing, indicating solid cash generation and retained earnings growth.

FINANCIAL STATEMENT CHANGES
Interest Expense
P&L
-38.3%
$282.5M→$174.2M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Operating Income
P&L
+36.7%
$403.2M→$551.1M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Current Assets
Balance Sheet
+16.6%
$2.5B→$2.9B

Current assets grew 16.6% — improving short-term liquidity or inventory/receivables build.

Revenue
P&L
+15.8%
$5.2B→$6.1B

Revenue growing 15.8% — solid top-line momentum, watch margins for quality of growth.

Accounts Receivable
Balance Sheet
+12.7%
$580.7M→$654.4M

Receivables grew 12.7% — monitor days sales outstanding for collection efficiency.

Stockholders Equity
Balance Sheet
+12.4%
$2.4B→$2.7B

Equity base grew 12.4% — retained earnings accumulation or equity issuance strengthening the balance sheet.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-03-12
ADDED
Our Component Repair Services segment supports commercial aerospace, military aerospace, land and marine and other markets with engine piece part repair and accessory repair.
The Restructuring Transactions consisted of (i) the 103-for-one forward stock split of our common stock, (ii) the liquidation and dissolution of Dynasty Parent Holdings, L.P.
an aggregate of 275,053,375 shares of our common stock, and to holders of Class B Units of Dynasty Parent Holdings, L.P.
Unless the context otherwise requires or we otherwise state, references in this Annual Report on Form 10-K for the year ended December 31, 2025 to: the term Acquisition refers to the acquisition by Dynasty Acquisition Co., Inc., pursuant to that certain stock purchase agreement as amended, restated, supplemented or otherwise modified from time to time, dated December 18, 2018, of all of the equity interests of StandardAero Holding Corp., a Delaware corporation; the term Canadian Borrower refers to Standard Aero Limited (as successor in interest to 1199169 B.C.
and its affiliates; the term Dynasty Acquisition refers to Dynasty Acquisition Co., Inc., a Delaware corporation that is the indirect wholly owned subsidiary of the Company; the term Exchange Act refers to the U.S.
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REMOVED
The registrant s common stock began trading on the New York Stock Exchange on October 2, 2024.
Our Component Repair Services segment supports the commercial aerospace, military and other end markets with engine piece part component and accessory repair, as well as some engine new part manufacturing.
The Restructuring Transactions consisted of (i) the 103-for-one forward stock split of our common stock effected on September 20, 2024, (ii) the liquidation and dissolution of Dynasty Parent Holdings, L.P.
an aggregate of 275,053,375 shares of our common stock (of which 8,157 were restricted shares), and to holders of Class B Units of Dynasty Parent Holdings, L.P.
an aggregate of 6,158,255 shares of our common stock (of which 6,028,395 will be restricted shares).
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