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StandardAero (SARO) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · StandardAero (SARO) Q3 2026 earnings results →

Q3 2026 Revenue up 4% year over year to $1.6B · 6¢ of every $1 of revenue kept as net profit · operating margin 10.3%

StandardAero made $1.6B in Q3 2026 (+4% Y/Y): Commercial Aerospace $860M, Business Aviation $348M, Military and Helicopter $293M. Operating margin 10.3%, net earnings $92.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$1.6B
Year over year+4%
Operating margin10.3%
Net earnings$92.8M
Operating cash flow$129M

Drawing the Sankey…

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StandardAero Q3 2026 revenue breakdown: Sankey diagram of revenue (Commercial Aerospace, Business Aviation, Military and Helicopter, Other), costs, profit and cash flow
StandardAero Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $1.6B in Q3 2026, up 4% year over year and down 3% from the previous quarter. Commercial Aerospace was the largest line at 55% of revenue. Business Aviation added $0.02B year over year (up 7%), 41% of the total change.

Operating profit was $0.16B, a 10.3% margin (up 1.2 points year over year). Of the extra revenue versus Q3 2025, 40% reached operating profit, above the 9% margin then. Total costs grew 3% against revenue growth of 4%. The fastest-growing cost line was SG&A (+24%). Net earnings were $0.09B, up 36% year over year. The effective tax rate was 23.0%.

Operating cash flow was $0.13B (up 771% year over year), 139% of net earnings. Non-cash charges added back $0.05B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.02B. Capital expenditures of $0.03B left free cash flow of $0.10B.

Quarterly history

StandardAero revenue by quarterStandardAero revenue by quarter$1.4BQ1 2025$1.5BQ2 2025$1.5BQ3 2025$1.6BQ4 2025$1.6BQ1 2026$1.6BQ2 2026$1.6BQ3 2026
StandardAero net earnings by quarterStandardAero net earnings by quarter$62.9MQ1 2025$67.7MQ2 2025$68.1MQ3 2025$78.6MQ4 2025$79.9MQ1 2026$97.3MQ2 2026$92.8MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 6, 2026$1.6B+4%10.3%$92.8M$129M
Q2 202610-QAug 7, 2026$1.6B+5%10.5%$97.3M$72.3M
Q1 202610-QMay 8, 2026$1.6B+13%8.8%$79.9M−$120M
Q4 202510-KFeb 26, 2026$1.6B+14%9.3%$78.6M$323M
Q3 202510-QNov 10, 2025$1.5B+20%9.2%$68.1M$14.8M
Q2 202510-QAug 14, 2025$1.5B+14%8.9%$67.7M$2.9M
Q1 202510-QMay 13, 2025$1.4B+16%9.0%$62.9M−$24.0M

Charts

StandardAero: revenue growth, year over year and quarter over quarterStandardAero: revenue growth, year over year and quarter over quarterY/YQ/Q+16%Q1 2025+14%+7%Q2 2025+20%-2%Q3 2025+14%+7%Q4 2025+13%+2%Q1 2026+5%-2%Q2 2026+4%-3%Q3 2026
Latest (Q3 2026): Y/Y +4%, Q/Q -3%.
StandardAero: where the cash came from (+) and went (−), TTM to Q3 2026StandardAero: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$405MOther investing−$214MOther financing−$149MNet borrowing (+) / repaid (−)$134MCash drawn (+) / kept (−)−$93.8MCapital spending−$83.0MAsset & business sales$2.6MExchange rates−$873K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
StandardAero: profit against cash, quarter by quarterStandardAero: profit against cash, quarter by quarterNet incomeOperating cash flow−$14.1M$108MQ4 2024$62.9M−$24.0MQ1 2025$67.7M$2.9MQ2 2025$68.1M$14.8MQ3 2025$78.6M$323MQ4 2025$79.9M−$120MQ1 2026$97.3M$72.3MQ2 2026$92.8M$129MQ3 2026
Latest (Q3 2026): Net income $92.8M, Operating cash flow $129M.
StandardAero: diluted shares by fiscal yearStandardAero: diluted shares by fiscal year275MFY2022275MFY2023290MFY2024334MFY2025
+21.5% since FY2022: more shares outstanding (issuance, stock pay).
StandardAero: long-term debt falling due (FY2025)StandardAero: long-term debt falling due (FY2025)$24.3M2026$25.2M2027$24.1M2028$24.1M2029$24.1M2030
Cash $290M, short-term investments —, long-term debt — at 2025-12-31.
StandardAero in its industry: growth against margin (6 companies, SIC 3724)StandardAero in its industry: growth against margin (6 companies, SIC 3724)revenue growth, year over year →↑ operating marginmedian +11%median 21%RTXHONHONAHEISIFSARO (+4%, 10%)
Aircraft Engines & Engine Parts; dot size is quarterly revenue; dashed lines are the industry's medians.

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About StandardAero

We believe that we are the world’s largest independent, pure-play provider of aerospace engine aftermarket services for fixed and rotary wing aircraft, serving the commercial, military and business aviation end markets. We provide a comprehensive suite of critical, value-added aftermarket solutions, including scheduled and unscheduled engine maintenance, repair and overhaul, engine component repair, on-wing and field service support, asset management and engineering solutions. We serve a crucial role in the engine aftermarket value chain, connecting engine original equipment manufacturers ("OEMs") with aircraft operators through our aftermarket services, maintaining longstanding relationships with both.

In its own words, from its 10-K, filed Feb 26, 2026.

StandardAero against its Aircraft Engines & Engine Parts peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +11%. Operating margin: 10.3% against the peers' median 21.3%.

CompanyQuarterRevenueY/YOp. margin
SARO StandardAeroQ3 2026$1.6B+4%10.3%
RTX RTXQ3 2026$25.0B+11%13.4%
HON Honeywell InternationalQ3 2026$5.0B+1%21.3%
HONA Honeywell AerospaceQ3 2026$4.6B+2%25.0%
HEI HeicoQ3 FY26$1.4B+23%25.1%
SIF Sifco IndustriesQ3 FY26$26.1M+18%1.1%

Source: StandardAero 10-Q on SEC EDGAR · CIK 2025410 · Aircraft Engines & Engine Parts

Guidance and outlook

StandardAero Revenue: guidance against what was reportedStandardAero Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2025$6.1BFY2026
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns SARO and who is buying

Largest holders of SARO (13F)Largest holders of SARO (13F)Carlyle Group$2.5BPrice T Rowe Associates$1.4BBlackRock$646MAllspring Global Investments Hold…$457MState Street$390MJupiter Topco LLC$367MVanguard Capital Management LLC$315MVanguard Group$313MJanus Henderson Group$311MVanguard Portfolio Management LLC$298M
Funds' net buying of SARO by quarter (13F)Funds' net buying of SARO by quarter (13F)$480M2024-12$3.4B2025-03$1.6B2025-06−$228M2025-09$253M2025-12−$3.7B2026-03$549M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on SARO

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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