LOARLoar Holdings Inc.

Aircraft Parts & Auxiliary Equipment, NEC

Revenue: $496M; 23% YoY
Operating margin: 21.4%; 1.6% YoY
EBITDA: $118M; 20% YoY
Market cap: $5.8B
Employees: —
Net debt / EBITDA: 7.0×; $827M net debt
AI in 10-K: 0.0; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 1 of 7

TSR below peersNo
1 of 2 years
3+ of last 5 years
High CEO pay despite TSRNo
$4M median
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
1556× net income
Cash flow under 80% of net income
Dilutive SBCNo
3% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyYes
46% of assets
Over 40% of assets
Shareholder dissentNo
94% lowest support
Any vote under 80% support

Buyer economics 1 of 4

Low revenue per employeeNo
—
Bottom quartile of its SIC industry
Quiet on AIYes
0.0 per 10K words · 0th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
7.0× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$5.8B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$9M net
Net sales over $10M in 12 months

Financials

Metric	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$317M	$403M	$496M	23%
Operating income	$69M	$88M	$106M	21%
Net income	−$5M	$22K	$72K	225%
Operating cash flow	$13M	$55M	$112M	104%
Stock-based comp	$372K	$11M	$15M	34%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $11M · 9
Open-market sells, 12 mo: $2M · 1
Net: $9M

Pay vs performance

Year	CEO total comp	Comp actually paid	TSR (indexed)	Peer TSR
FY2025	$4M	$3M	139	180
FY2024	$3M	$34M	151	123