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US independent provider of aircraft engine maintenance, repair and overhaul (MRO) services for commercial and military aviation.
US independent provider of aircraft engine maintenance, repair and overhaul (MRO) services for commercial and military aviation.
Is paid per engine overhaul or repair, or under longer fixed-rate service agreements, mostly on engines built by other makers, so it earns from the installed fleet rather than new aircraft. Airline and business-jet work carry most of it. It listed in 2024, with private-equity firm Carlyle keeping a large stake.
Moat: narrow (customer qualification, installed base, switching costs). OEM-authorized engine MRO shops require certifications that take years to obtain, locking in repeat business.
Headquarters: Scottsdale, Arizona, US · Founded: 1911 · Employees: 8,000
Size StandardAero (SARO) is a United States Industrials company (Other Transportation) with a market value of $9.14B, the 819th largest of 3,117 United States companies the cockpit tracks. Shares closed at $27.63 on 6 Nov 2026.
Performance Over six months the shares gained 9.9%, against +1.1% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 12.6% over the last twelve months (peer median +8.0%); the operating margin is 9.8% (peer median 23.1%).
Valuation It trades at 16.4× forward earnings against a peer median of 16.8× (9th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 11% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points above its cost of capital (8.2% WACC).
Backlog Backlog (remaining performance obligations) was $322M at 30 Sep 2024. Backlog detail →
Short interest Short interest is 8.5% of the free float (15 Oct 2026).
Next results Next results expected around 15 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.32B | $6.06B | $5.24B | $4.56B | $4.15B |
| Revenue growth | — | +16% | +15% | +10% | — |
| Gross profit | $853M | $799M | $659M | $542M | $464M |
| EBITDA | $807M | $774M | $638M | $536M | $470M |
| Net income | $324M | $277M | $11.0M | -$35.1M | -$21.0M |
| Free cash flow | $219M | $234M | -$46.9M | -$17.4M | -$17.0M |
| Capital expenditure | $72.7M | $113M | $123M | $85.3M | $44.2M |
| Total debt | $2.56B | $2.45B | $2.41B | $3.38B | $3.37B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| StandardAero SARO | $9.14B | +10% | +13% | 10% | 16.4× | 10.9% |
| MTU Aero Engines MTX.DE | $20.9B | +21% | +12% | 13% | 18.5× | 6.3% |
| Aar AIR | $4.39B | -7% | +22% | 9% | 18.4× | 13.2% |
| GE Aerospace GE | $334B | +9% | +20% | 18% | 36.4× | 27.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SARO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +35.9% | +8.1% | highest of 21 |
| 6-month return | +9.9% | +1.1% | 5th highest of 21 |
| Distance from 52-week high | -19.9% | -18.2% | 8th lowest of 21 |
| Revenue growth (TTM) | +12.6% | +8.0% | 8th highest of 21 |
| Operating margin | 9.8% | 23.1% | 3rd lowest of 21 |
| Forward P/E | 16.4× | 16.8× | 9th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 10.9% | 2.1% | 2nd most demanding of 16 |
| Growth delivered (Del g) | +13.5% | +21.5% | 6th lowest of 16 |
| Hurdle (Req g minus delivered) | -2.5 pp | -16.6 pp | most demanding of 16 |
| ROIC minus cost of capital | +1.3 pp | -0.1 pp | 9th highest of 21 |
| EV / EBITDA | 14.3× | 10.7× | 3rd most expensive of 10 |
| Net debt / EBITDA | 3.0× | 3.3× | 5th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| StandardAero SARO | United States | $9.14B | +10% | +13% | 10% | 16.4× | 10.9% | +13.5% |
| China Merchants Port 001872.SZ | China | $9.20B | +14% | +8% | 32% | 12.9× | 2.1% | +6.2% |
| Shanghai International Airport 600009.SS | China | $9.22B | -9% | +7% | 19% | 23.7× | -2.6% | +25.4% |
| Qingdao Port International 601298.SS | China | $8.98B | +10% | +4% | 31% | 12.0× | -12.0% | +7.2% |
| Jiangsu Expressway 0177.HK | Hong Kong | $9.54B | +6% | +8% | 26% | 10.1× | n/a | n/a |
| Shandong Hi-speed 600350.SS | China | $8.06B | +4% | -4% | 20% | 18.0× | 4.7% | +13.0% |
| Grupo Aeroportuario del Sureste SAB de CV Sponsored ADR ASR | United States | $7.95B | -15% | +26% | 41% | 12.2× | -2.3% | +27.0% |
| Flughafen Zurich FHZN.SW | Switzerland | $7.94B | -3% | +4% | 35% | 20.3× | 0.3% | +16.9% |
| China Merchants Expressway Network & Technology 001965.SZ | China | $10.6B | +10% | +26% | 15% | 14.6× | 6.7% | +13.7% |
| GMR Airports GMRAIRPORT.NS | India | $11.1B | -2% | +29% | 27% | 296.2× | n/a | n/a |
| Fraport FRA.DE | Germany | $7.09B | +1% | +3% | 19% | 21.2× | 6.3% | +21.5% |
| Hankyu Hanshin 9042.T | Japan | $7.03B | +3% | +6% | 10% | 13.2× | n/a | n/a |
| Kobenhavns Lufthavne A/S KBHL.CO | Denmark | $6.60B | -6% | +9% | 34% | n/a | 6.7% | +28.5% |
| Lyft LYFT | United States | $6.47B | +19% | +11% | -2% | 21.9× | -6.1% | +21.7% |
| Aeroports de Paris ADP.PA | France | $13.0B | +9% | +5% | 18% | 18.1× | 11.5% | +25.7% |
| Grupo Aeroportuario del Pacifico SAB de CV Sponsored ADR PAC | United States | $14.5B | +1% | +20% | 44% | 17.1× | 8.2% | +31.3% |
| Tokyo Metro 9023.T | Japan | $5.31B | -8% | +3% | 21% | 16.5× | 4.8% | +7.4% |
| Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR OMAB | United States | $5.21B | +2% | +21% | 53% | 13.2× | -5.1% | +27.2% |
| Zhejiang Expressway 0576.HK | Hong Kong | $4.86B | -13% | +18% | 33% | 5.9× | n/a | n/a |
| Hainan Airport Infrastructure 600515.SS | China | $4.56B | -26% | +25% | -5% | 133.0× | n/a | n/a |
| Liaoning Port 601880.SS | China | $4.54B | -10% | -3% | 21% | n/a | -10.7% | -1.3% |
StandardAero reported $322M of remaining performance obligations at 30 Sep 2024.