SAROHIGH SIGNALFINANCIAL10-K

SARO delivered exceptional financial performance with net income surging 2,428% to $277.4M while significantly reducing interest expense by 38% and growing revenue 16% to $6.1B.

The massive improvement in profitability combined with substantial debt service cost reduction suggests either a major operational turnaround or significant one-time benefits that dramatically improved the bottom line. The 315% increase in operating cash flow alongside strong revenue growth indicates genuine operational improvements rather than just accounting adjustments.

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

SARO demonstrated remarkable financial transformation with net income exploding from $11.0M to $277.4M while revenue grew a solid 16% to $6.1B and operating income increased 37% to $551.1M. The company significantly strengthened its financial position by reducing interest expense 38% to $174.2M and growing operating cash flow 315% to $316.7M, while the balance sheet expanded with current assets up 17% and stockholders' equity growing 12%. This represents a dramatic improvement in profitability, cash generation, and overall financial health that signals either a major operational turnaround or significant one-time benefits.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+2427.9%
$11.0M→$277.4M

Net income grew 2427.9% — bottom-line growth signals improving overall business health.

Operating Cash Flow
Cash Flow
+314.9%
$76.3M→$316.7M

Operating cash flow surged 314.9% — exceptional cash generation, highest quality earnings signal.

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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