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StandardAero

SARO on NYSE. StandardAero repairs and maintains aircraft engines for airlines, militaries, and businesses. Market value $7.0bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Industrials stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
3.2%fair

For every $100 of what the whole company costs, it produced $3.16 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
15.2×full

You pay 15.2 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 70 of 100. Our list needs 70 on quality and 60 on price.

$20.94 a share, at its 1-year low

Over the past year the price has ranged from $20.78 to $34.48.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

-0.0
0.2
0.2
2024202512 monthsto Jun '26
Revenue
$5.2bn$6.1bn
Operating margin
7.7%9.1%
Debt to equity
0.950.84
Shares outstanding
0.33bn0.33bn

Health checks

  • Free cash flow positive1 of 2 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)9 of 9
  • Profit backed by cash (accruals)Yes
  • Debt0.84× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $1.6 billion last quarter, up 5% on a year ago.
  • Profit: $97 million, up 44% on a year ago.
  • It keeps 9 cents of each $1 of sales as operating profit, up from 8 cents a year earlier.
  • Spare cash over the past 12 months: $219 million. A year earlier it spent $32 million more than it brought in.
  • 1% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $2.2 billion more than cash, about the same as a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.2bn
December 2024$1.4bn
March 2025$1.4bn
June 2025$1.5bn
September 2025$1.5bn
December 2025$1.6bn
March 2026$1.6bn
June 2026$1.6bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$16m
December 2024-$14m
March 2025$63m
June 2025$68m
September 2025$68m
December 2025$79m
March 2026$80m
June 2026$97m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
6 November 2026

Who owns it

4 long-term investors we follow own it, down from 5 last quarter. 364 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • Carlyle Group Inc.
    Passive investor
    at least 25.4%−20.2 pts
    (filed with 8 related holders)
    Since 31 March 2026
  • 13.6%+1.9 pts
    Since 30 June 2026
  • Hux Investment Pte Ltd
    Passive investor
    10.3%−1.9 pts
    Since 30 June 2025
  • BlackRock, Inc.
    Passive investor
    5.9%
    Since 31 March 2026
  • GIC Private Limited
    Passive investor
    at least 5.7%−4.6 pts
    (filed with 2 related holders)
    Since 31 March 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $983,588 of shares on the open market. 9 sold $23m, $22m of it under preset trading plans.

  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    10 August 2026
    Shares
    41
    Price
    $30.00
    Value
    $1,230
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    7 August 2026
    Shares
    20,413
    Price
    $30.56
    Value
    $623,854
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    6 August 2026
    Shares
    40,000
    Price
    $31.42
    Value
    $1m
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    5 August 2026
    Shares
    40,000
    Price
    $30.89
    Value
    $1m
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    4 August 2026
    Shares
    40,000
    Price
    $30.24
    Value
    $1m
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    3 August 2026
    Shares
    10,969
    Price
    $30.04
    Value
    $329,501
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    7 July 2026
    Shares
    40,000
    Price
    $30.12
    Value
    $1m
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    6 July 2026
    Shares
    40,000
    Price
    $30.44
    Value
    $1m
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    2 July 2026
    Shares
    40,000
    Price
    $30.24
    Value
    $1m
  • Ford Russell Wayne
    Chief Executive Officer, Director
    Sold
    under a preset trading plan
    Date
    1 July 2026
    Shares
    40,000
    Price
    $30.23
    Value
    $1m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.