Comps · October 2026
Aerospace & Defence
Edition 6 · last updated 8 Oct 2026 · 14 segments · 116 listed companies · 52 transactions
The listed companies of each segment with their trading multiples on this year’s and next year’s estimates, and the industry’s recent transactions with the multiples paid. Free to read, and the same for everyone. Its figures are those of the day given for each company; they do not move until a new edition is published.
Recent sector developments (7 Sept 2026 to 8 Oct 2026)
Commercial aerospace
- GE Aerospace | 8 September Agreed to acquire Consolidated Precision Products (CPP), a maker of engineered castings, from Warburg Pincus and Berkshire Partners for $11.75 billion, about 18x 2027 EBITDA including expected net synergies (about 26x without), with closing expected in the second half of 2027 (geaerospace.com)
- Boeing | 11 September Reached a tentative four-year contract agreement with SPEEA covering roughly 17,000 Puget Sound engineering and technical employees, after members rejected the first offer in an August 21 vote (finance.yahoo.com)
- TransDigm | 21 September Agreed through its Extant Aerospace unit to acquire a portfolio of commercial rotorcraft, land systems and business jet products, plus a California manufacturing facility, for approximately $240 million in cash (pulse2.com)
- AAR | 28 September Agreed to acquire a 65% controlling stake in aircraft maintenance provider MRO Holdings at an implied enterprise value of US$4 billion, 10.7 times forecast 2026 adjusted EBITDA including US$75 million of expected annual cost synergies (avitrader.com)
- Boeing | 28 September Was reported by Leeham News to have suffered a further delay to FAA certification of the 737 Max 10, less than two weeks after its chief executive said the jet would be certified very soon (leehamnews.com)
- Boeing | 29 September Won the US Navy's F/A-XX sixth-generation carrier-based fighter competition, receiving a contract the Department of War valued at more than $20B for the full-scale development phase, including multiple test aircraft (theaviationist.com)
Defence, space & government services
- The Exploration Company | 8 September Raised a $450 million Series C, which it called the largest ever announced by a European space company, to fund its Nyx reusable capsule and its Storm reusable high-thrust rocket engine (exploration.space)
- Ondas | 14 September Announced the acquisition of Israeli electronic fuzing maker Gate Technologies and its European affiliate Bron Technologies for $205 million upfront plus up to $185 million in milestone payments by the end of 2028 (en.globes.co.il)
- Rocket Lab | 15 September Completed a $1.944 billion at-the-market equity offering and cancelled its $3.6B bridge facility, fully funding its pending acquisition of Iridium Communications, which it expects to close in mid-2027 (investors.rocketlabcorp.com)
- Boeing | 28 September Said with NASA that the uncrewed Starliner-1 cargo flight would launch no earlier than December and the crewed Starliner-2 mission not until 2028, with NASA saying it remained committed to having Starliner as a second crew system (spacepolicyonline.com)
- US Army | 29 September Awarded 10 counter-drone IDIQ contracts with a combined ceiling of $4.15 billion, including $500 million each to L3Harris WESCAM, DroneShield, SRC and RADA Technologies, under a vehicle expected to reach $7 billion (defensescoop.com)
- Spectrum Control | 29 September Agreed to be acquired by Greenbriar Equity Group from AEA Investors, the seller of RF and microwave signal conditioning and power components for defence and aerospace (morningstar.com)
- Raytheon | 29 September Received a Pentagon award with a ceiling of up to $20.7 billion to nearly double AMRAAM air-to-air missile production under multiyear procurement authority, an award Reuters called provisional because Congress has not yet funded the full deal (defensenews.com)
- WISeSat.Space | 1 October Completed its business combination with SPAC Columbus Acquisition Corp, listing on Nasdaq as SAIQ as a provider of post-quantum-secure satellite communications and IoT connectivity (finance.yahoo.com)
- Powerus | 1 October Completed its merger with Nasdaq-listed Aureus Greenway Holdings, which was renamed Powerus Corporation and trades as PUSA, making the autonomous drone and unmanned systems maker a public company (sec.gov)
Listed companies’ multiples, 2027E (median of each segment)
Recent notable transactions (EBITDA multiple paid, the latest first)
14.0x
current year
26.0x
next year
20.3x
next year, estimate
18.6x
current year, estimate
32.0x
LTM
16.2x
LTM
20.4x
current year, estimate
12.0x
next year
22.7x
current year
15.2x
LTM
9.7x
LTM
20.0x
LTM
15.0x
LTM, estimate
17.7x
current year
AAR / MRO Holdings
28 Sept 2026
USD 4,000m
GE Aerospace / Consolidated Precision Products
8 Sept 2026
USD 11,750m
TTM Technologies / Epiq Solutions
17 Aug 2026
USD 1,100m
MDA Space / Collecte Localisation Satellites…
8 Jul 2026
EUR 1,008m
Thales / Exail Technologies
6 Jul 2026
EUR 3,900m
Rocket Lab / Iridium Communications
29 Jun 2026
USD 8,000m
MDA Space / Blue Canyon Technologies
19 Jun 2026
USD 620m
Arxis / Omnetics Connector Corporation an…
2 Jun 2026
USD 890m
Parker-Hannifin / CIRCOR Aerospace
21 May 2026
USD 2,550m
Tinicum and Blackstone / Senior
7 Apr 2026
GBP 1,399m
Kraken Robotics / Covelya Group
3 Mar 2026
CAD 615m
Donaldson Company / Facet Filtration
2 Feb 2026
USD 820m
VSE / Precision Aviation Group
29 Jan 2026
USD 2,025m
Crane Company / Precision Sensors and Instrumenta…
9 Jun 2025
USD 1,060m
Listed companies (by segment, with the median of each)
A segment’s name leads to its own page, with a bar for each of its companies.
| Value (m) | Share price | 2026E | 2027E | Operating | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Segment | Company | Ccy | Enterprise value | Equity value | Price | % of 52-wk high | Change, 12 months | Div. yield | EV / Sales | EV / EBITDA | EV / Sales | EV / EBITDA | P / E | Net debt / LTM EBITDA | Sales growth 26–27E | EBITDA margin 2027E |
| Aircraft manufacturers | ||||||||||||||||
| Airbus SE | EUR | 148,130 | 146,900 | 185.60 | 84% | (6%) | 1.7% | 1.8x | 14.1x† | 1.6x | 12.2x† | 21.3x | 0.1x | 11.8% | 13.5%† | |
| Bombardier Inc. | CAD | 36,060 | 31,230 | 312.55 | 83% | 60% | – | 2.6xe | 19.5xe | 2.6xe | 19.5xe | – | 2.3x | – | 13.4%e | |
| Dassault Aviation SA | EUR | 11,880 | 21,790 | 282.80 | 78% | (1%) | 1.7% | 1.3x | 11.4x | 1.2x | 9.8x | 15.0x | (10.5x) | 10.5% | 12.4% | |
| Embraer S.A. | USD | 14,070 | 13,230 | 74.09 | 92% | 23% | 0.9% | 1.6x | 16.8x† | 1.5x | 14.4x† | – | 0.5x | 11.5% | 10.2%† | |
| Textron Inc. | USD | 16,050 | 13,270 | 77.17 | 76% | (9%) | 0.1% | 1.0x | 8.8x | 1.0x | 8.1x | 10.6x | 1.6x | 4.0% | 12.2% | |
| The Boeing Company | USD | 181,040 | 151,970 | 192.28 | 76% | (11%) | – | 1.8x | n.m. | 1.6x | 22.0x | 46.6x | n.m. | 15.1% | 7.3% | |
| Median | 81% | (3%) | 1.3% | 1.7x | 14.1x | 1.6x | 13.3x | 18.2x | 0.5x | 11.5% | 12.3% | |||||
| Aero-engines and their components | ||||||||||||||||
| General Electric Company | USD | 334,410 | 324,120 | 312.39 | 80% | 4% | 0.6% | 6.6x | 27.9x | 6.0x | 24.5x | 34.4x | 0.9x | 10.9% | 24.4% | |
| MTU Aero Engines AG | EUR | 19,920 | 19,850 | – | – | (6%) | 1.0% | 2.1x | 11.4x† | 1.9x | 10.5x† | – | 0.0x | 10.0% | 17.8%† | |
| Rolls-Royce Holdings plc | GBP | 120,060 | 122,140 | – | – | 24% | 0.8% | 5.1x | 22.2x† | 4.6x | 20.1x† | – | (0.4x) | 11.1% | 22.8%† | |
| Safran SA | EUR | 134,620 | 135,560 | 327.00 | 89% | 9% | 1.0% | 3.7x | 17.5x† | 3.3x | 15.5x† | 25.2x | (0.3x) | 10.3% | 21.6%† | |
| Median | 85% | 7% | 0.9% | 4.4x | 19.9x | 4.0x | 17.8x | 29.8x | (0.1x) | 10.6% | 22.2% | |||||
| Aircraft systems | ||||||||||||||||
| AAR Corp | USD | 4,840 | 3,960 | 99.90 | 65% | 11% | – | 1.4x | 11.1x | 1.3x | 9.9x | 15.8x | 2.3x | 8.3% | 12.9% | |
| Arxis, Inc. | USD | 21,770 | 20,470 | 47.52 | 77% | – | – | 10.9x | 27.1x | 9.6x | 23.4x | 36.8x | 2.5x | 13.0% | 41.1% | |
| Astronics Corporation | USD | 3,320 | 2,970 | – | – | – | – | 3.2x | 20.7xe | 2.9x | 18.7xe | – | 2.3x | 10.7% | 15.6%e | |
| Crane Company | USD | 12,600 | 11,830 | 204.67 | 89% | 12% | 0.5% | 4.4x | 19.4x | 4.1x | 17.6x | 26.2x | 1.0x | 5.5% | 23.4% | |
| Curtiss-Wright Corporation | USD | 20,800 | 20,130 | 544.94 | 67% | 0% | 0.2% | 5.5x | 24.3x | 5.0x | 22.1x | 31.8x | 0.8x | 8.4% | 22.9% | |
| Ducommun Incorporated | USD | 2,890 | 2,600 | 171.94 | 82% | 79% | – | 3.3x | 18.8x | 3.0x | 16.2x | 32.1x | 2.3x | 9.6% | 18.5% | |
| Eaton Corporation plc | USD | 190,470 | 169,840 | 437.28 | 91% | 17% | 1.0% | 5.8x | 24.4x | 5.2x | 21.0x | 27.1x | 3.1x | 12.1% | 24.8% | |
| FACC AG | EUR | 876 | 693 | 15.14 | 77% | 62% | 0.7% | 0.8x | 8.3x | 0.7x | 6.3x | 10.1x | 2.9x | 12.2% | 11.3% | |
| Figeac Aero | EUR | 744 | 474 | 10.70 | – | – | – | 1.4xg | 8.5xg | 1.3xg | 7.6xg | – | 3.4x | 10.5%g | 16.6%g | |
| Gogo Inc. | USD | 1,120 | 301 | – | – | – | – | 1.3x | 6.2xg | 1.2x | 6.0xe | – | 3.5x | 4.0% | 20.1%e | |
| HEICO Corporation | USD | 43,640 | 41,340 | 295.78 | – | – | – | 7.9x | 27.8x | 7.1x | 24.9x | – | 1.9x | 11.5% | 28.6% | |
| Hexcel | USD | 7,460 | 6,560 | 86.74 | 78% | 38% | 0.8% | 3.6x | 18.4x | 3.2x | 15.6x | 27.6x | 2.3x | 11.4% | 20.5% | |
| Honeywell Aerospace Inc. | USD | 63,920 | 48,830 | 154.07 | 52% | – | – | 3.5x | 13.6x | 3.2x | 12.3x | 16.9x | 4.3x | 8.0% | 26.2% | |
| Loar Holdings | USD | 6,800 | 5,950 | – | – | – | – | 10.1x | 25.2x | 9.1x | 22.3x | – | 4.4x | 11.1% | 40.8% | |
| Montana Aerospace AG | EUR | – | – | – | – | – | – | – | – | – | – | – | 0.4x | 10.0%g | 19.1%g | |
| Moog Inc. | USD | 12,540 | 11,460 | 361.75 | – | – | – | 2.8x | 18.6x | 2.6x | 17.5x | – | – | 7.3% | 15.0% | |
| Parker-Hannifin Corporation | USD | 130,040 | 121,810 | 965.88 | 88% | 27% | 0.8% | 5.7x | 20.7x | 5.1x | 18.6x | 25.8x | 1.5x | 10.7% | 27.5% | |
| RBC Bearings Incorporated | USD | 16,810 | 16,050 | 508.49 | 76% | 30% | – | 8.1x | 25.1x | 7.3x | 22.4x | 31.5x | 1.2x | 11.1% | 32.7% | |
| RTX Corporation | USD | 279,900 | 249,350 | 185.01 | 82% | 11% | 1.6% | 2.9x | 17.3x | 2.7x | 15.8x | 23.5x | 1.9x | 7.4% | 17.1% | |
| SIA Engineering | SGD | 3,190 | 3,570 | 3.19 | – | – | – | 2.1x | 29.7x | 1.9x | 27.4xe | – | – | 8.7% | 7.0%e | |
| THK Co., Ltd. | JPY | 743,400 | 720,510 | 6,429.00 | – | – | – | 2.9xg | – | 2.9xe | – | – | – | – | – | |
| TransDigm Group | USD | 90,550 | 59,840 | 1,082.60 | – | – | – | 8.8x | 16.1xg | 8.1x | 14.9xe | – | 6.5x | 8.1% | 54.5%e | |
| TransDigm Group Incorporated | USD | 91,360 | 60,650 | 1,097.24 | 75% | (17%) | – | 8.5x | 16.2x | 7.7x | 14.7x | 22.7x~ | 6.0x | 10.2% | 52.5% | |
| VSE Corporation | USD | 6,350 | 5,400 | – | – | – | – | 3.5x | 18.6xg | 2.9x | 15.3xe | – | 1.2x | 21.5% | 18.8%e | |
| Woodward, Inc. | USD | 20,760 | 19,850 | 336.19 | 75% | 33% | 0.4% | 4.7x | 22.1x | 4.3x | 19.9x | 31.3x~ | 1.1x | 9.0% | 21.6% | |
| Median | 77% | 22% | 0.8% | 3.6x | 18.8x | 3.2x | 17.5x | 26.7x | 2.3x | 10.1% | 21.1% | |||||
| Aerostructures | ||||||||||||||||
| Ducommun Incorporated | USD | 2,890 | 2,600 | 171.94 | 82% | 79% | – | 3.3x | 18.8x | 3.0x | 16.2x | 32.1x | 2.3x | 9.6% | 18.5% | |
| FACC AG | EUR | 876 | 693 | 15.14 | 77% | 62% | 0.7% | 0.8x | 8.3x | 0.7x | 6.3x | 10.1x | 2.9x | 12.2% | 11.3% | |
| Magellan Aerospace Corporation | CAD | 1,960 | 1,900 | 33.36 | 73% | 104% | 0.6% | 1.7x | 12.3x† | 1.6x | 10.8x† | 19.9x | 0.4x | 5.9% | 14.5%† | |
| Melrose Industries PLC | GBP | 7,650 | 5,800 | – | – | (24%) | 1.5% | 2.0x | 9.1x† | 1.8x | 7.6x† | – | 2.9x | 9.1% | 24.1%† | |
| Median | 77% | 71% | 0.7% | 1.9x | 10.7x | 1.7x | 9.2x | 19.9x | 2.6x | 9.4% | 16.5% | |||||
| Aerospace materials and metal parts | ||||||||||||||||
| ATI Inc. | USD | 27,440 | 26,030 | 191.14 | 78% | 135% | – | 5.3x | 23.5x | 4.9x | 20.1x | 30.0x | 1.5x | 9.9% | 24.2% | |
| Carpenter Technology Corporation | USD | 19,350 | 19,020 | 383.69 | 61% | 56% | 0.2% | 5.9x | 20.7x | 5.3x | 17.5x | 26.2x | 0.4x | 10.8% | 30.2% | |
| Hexcel | USD | 7,460 | 6,560 | 86.74 | 78% | 38% | 0.8% | 3.6x | 18.4x | 3.2x | 15.6x | 27.6x | 2.3x | 11.4% | 20.5% | |
| Howmet Aerospace Inc. | USD | 95,180 | 91,080 | 228.38 | 74% | 16% | 0.3% | 9.4x | 29.2x | 8.3x | 25.0x | 35.4x | 1.5x | 13.6% | 33.1% | |
| LISI S.A. | EUR | 3,030 | 2,760 | 60.00 | 83% | 30% | 0.8% | 1.6x | 9.9x† | 1.4x | 8.7x† | 17.0x | 1.1x | 11.0% | 16.5%† | |
| RBC Bearings Incorporated | USD | 16,810 | 16,050 | 508.49 | 76% | 30% | – | 8.1x | 25.1x | 7.3x | 22.4x | 31.5x | 1.2x | 11.1% | 32.7% | |
| Median | 77% | 34% | 0.6% | 5.6x | 22.1x | 5.1x | 18.8x | 28.8x | 1.4x | 11.1% | 27.2% | |||||
| Aircraft maintenance | ||||||||||||||||
| AAR Corp | USD | 4,840 | 3,960 | 99.90 | 65% | 11% | – | 1.4x | 11.1x | 1.3x | 9.9x | 15.8x | 2.3x | 8.3% | 12.9% | |
| CAE Inc. | USD | 9,580 | 7,670 | 24.04 | 70% | (19%) | – | 2.7xe | 14.7xe | 2.7xe | 14.7xe | – | 2.8x | – | 18.6%e | |
| FTAI Aviation Ltd. | USD | 20,340 | 17,180 | 167.32 | 52% | 0% | 1.2% | 5.2x | 15.0x | 3.1x | 9.3x | 13.3x | 3.2x | 69.2% | 33.2% | |
| StandardAero, Inc. | USD | 9,271 | 6,880 | 21.17 | 61% | – | – | 1.4x | 10.3x | 1.3x | 9.1x | – | 3.0x | 9.4% | 14.4% | |
| Median | 63% | 0% | 1.2% | 2.1x | 12.9x | 2.0x | 9.6x | 14.6x | 2.9x | 9.4% | 16.5% | |||||
| Defence platforms | ||||||||||||||||
| AeroVironment, Inc. | USD | 7,370 | 7,100 | 140.31 | 34% | (55%) | – | 3.5x | 23.8x | 3.0x | 19.4x | 34.5x | 1.2x | 14.2% | 15.6% | |
| AEVEX Corp. | USD | 1,500 | 1,610 | 14.13 | 33% | – | – | 2.0x | 13.1x | 1.6x | 9.3x | 17.0x | (1.0x) | 21.2% | 17.6% | |
| Babcock International Group PLC | GBP | 5,030 | 4,650 | – | – | (25%) | 0.8% | 0.9x | 9.2x | 0.9x | 8.1x | – | 1.0x | 5.3% | 11.0% | |
| BAE Systems plc | GBP | 59,231 | 54,281 | – | – | (4%) | 1.9% | 1.8x | 12.5x† | 1.6x | 11.4x† | – | 1.3x | 9.2% | 14.3%† | |
| BWX Technologies, Inc. | USD | 13,940 | 12,530 | 136.79 | 57% | (26%) | 0.8% | 3.7x | 21.1x | 3.3x | 18.9x | 26.1x | 3.0x | 10.8% | 17.5% | |
| CSG N.V. | EUR | 16,010 | 12,750 | – | – | – | – | 2.1x | 7.7x† | 1.8x | 6.4x† | – | 1.6x | 15.9% | 28.5%† | |
| General Dynamics Corporation | USD | 95,030 | 89,880 | 332.72 | 83% | (2%) | 1.9% | 1.7x | 13.9x | 1.6x | 12.8x | 17.9x | 0.8x | 4.8% | 12.6% | |
| Huntington Ingalls Industries, Inc. | USD | 13,730 | 10,810 | 274.33 | 60% | (5%) | 2.0% | 1.0x | 12.7x | 1.0x | 11.1x | 13.2x | 2.5x | 6.4% | 8.7% | |
| Karman Holdings Inc. | USD | 5,050 | 4,230 | 31.89 | 27% | (56%) | – | 6.8x | 23.1x | 5.3x | 17.9x | 33.2x | 5.4x | 28.0% | 29.7% | |
| Kongsberg Gruppen ASA | NOK | 272,273 | 273,983 | 311.50 | 73% | – | 1.9% | 6.3x | 32.9x† | 4.2x | 21.3x† | 27.6x | (0.3x) | 49.4% | 19.8%† | |
| Kratos Defense & Security Solutions, Inc. | USD | 6,790 | 8,040 | 42.82 | 32% | (53%) | – | 3.8x | n.m. | 3.1x | 28.2x | 38.9x | (14.3x) | 24.0% | 10.9% | |
| Leonardo S.p.A. | EUR | 32,340 | 27,620 | 47.80 | 72% | (11%) | 1.3% | 1.4x | 11.7x† | 1.3x | 10.1x† | 16.7x | 1.5x | 10.7% | 13.0%† | |
| Lockheed Martin Corporation | USD | 133,410 | 116,660 | 505.50 | 73% | 1% | 2.7% | 1.6x | 11.8x | 1.6x | 11.2x | 15.4x | 1.7x | 5.6% | 13.9% | |
| Northrop Grumman Corporation | USD | 82,790 | 68,470 | 482.00 | 62% | (21%) | 2.0% | 1.9x | 13.4x | 1.8x | 12.4x | 15.8x | 2.0x | 6.7% | 14.2% | |
| RENK Group AG | EUR | 4,070 | 3,670 | 36.72 | 41% | (55%) | 1.5% | 2.6x | 12.6x | 2.2x | 10.2x | 16.8x | 1.6x | 18.8% | 21.7% | |
| Rheinmetall AG | EUR | 46,865 | 44,140 | 945.80 | 47% | – | 1.2% | 3.4x | 15.3x† | 2.5x | 10.9x† | 17.7x | 1.2x | 33.7% | 23.1%† | |
| Saab AB | SEK | 337,690 | 335,690 | 623.20 | 83% | 11% | 0.4% | 3.5x | 24.9x† | 2.8x | 19.9x† | 33.2x | 0.1x | 21.4% | 14.3%† | |
| TKMS AG & Co. KGaA | EUR | 3,900 | 5,080 | – | – | – | – | 1.5x | 14.8x | 1.3x | 12.4x | – | (6.2x) | 15.2% | 10.8% | |
| Median | 58% | (21%) | 1.7% | 2.1x | 13.4x | 1.8x | 11.9x | 17.8x | 1.3x | 14.7% | 14.3% | |||||
| Defence electronics | ||||||||||||||||
| BigBear.ai Holdings | USD | – | – | – | – | – | – | – | – | – | – | – | – | – | – | |
| Elbit Systems Ltd. | USD | 31,619 | 31,730 | 695.68 | 68% | – | 0.6% | 3.5x | 28.1x | 3.1x | 24.2x | 39.1x | (0.1x) | 11.5% | 12.8% | |
| Exosens | EUR | 3,350 | 3,150 | 62.10 | – | – | – | 6.3xg | 19.4xg | 5.6xe | 17.1xe | – | 1.3x | 13.2%ge | 32.6%e | |
| HENSOLDT AG | EUR | 10,000 | 8,890 | 76.96 | 65% | (25%) | 0.7% | 3.6x | 24.1x† | 3.1x | 19.0x† | 31.0x | 3.2x | 16.4% | 16.1%† | |
| Indra Sistemas, S.A. | EUR | 9,450 | 10,400 | 59.40 | 90% | 58% | 0.5% | 1.3x | 10.7x† | 1.2x | 9.1x† | 18.2x | (1.8x) | 10.6% | 13.3%† | |
| Kopin Corporation | USD | 843 | 867 | 4.67 | – | – | – | 13.9x | – | 10.7x | – | – | – | 30.3% | – | |
| L3Harris Technologies, Inc. | USD | 53,870 | 44,390 | 238.40 | 63% | (22%) | 2.1% | 2.3x | 12.5x | 2.1x | 11.6x | 17.6x | 2.3x | 6.8% | 18.4% | |
| Leonardo DRS, Inc. | USD | 9,810 | 9,810 | 36.76 | 73% | (19%) | 1.0% | 2.5x | 18.4x | 2.3x | 16.7x | 25.0x | 0.0x | 6.8% | 13.9% | |
| Lumibird SA | EUR | 610 | 525 | 23.80 | – | – | – | 2.5x | 11.3x | 2.3x | 9.8x | – | 1.9x | 9.0% | 23.2% | |
| Mercury Systems, Inc. | USD | 5,270 | 4,980 | 82.80 | 64% | 9% | – | 5.1x | 30.2x | 4.6x | 23.3x | 42.5x | 2.8x | 10.9% | 19.7% | |
| Optex Systems Holdings | USD | 67.9 | 72.6 | 10.45 | – | – | – | 1.5xg | 8.3xg | 1.4xe | 7.8xe | – | (0.6x) | 6.5%ge | 18.2%e | |
| Teledyne Technologies Incorporated | USD | 30,090 | 28,400 | 612.70 | 88% | 5% | – | 4.6x | 18.3x | 4.3x | 17.0x | 22.9x | 1.1x | 5.5% | 25.5% | |
| Thales S.A. | EUR | 46,820 | 46,290 | 225.30 | 81% | (13%) | 1.7% | 2.0x | 12.3x† | 1.8x | 11.0x† | 18.1x | 0.2x | 8.8% | 16.5%† | |
| Theon International Plc | EUR | 2,460 | 2,240 | – | – | – | – | 4.1xg | 15.1xe | 3.3xe | 12.1xe | – | 2.0x | 25.0%ge | 27.1%e | |
| VIGO Photonics | PLN | 531 | 490 | 487.00 | – | – | – | 4.0x | 20.6x | 3.0x | 12.3x | – | – | 32.1% | 24.8% | |
| Wuhan Guide Infrared | CNY | 48,600 | 48,600 | – | – | – | – | – | – | – | – | – | – | – | – | |
| Median | 71% | (14%) | 0.9% | 3.6x | 18.3x | 3.1x | 12.3x | 24.0x | 1.2x | 10.8% | 18.4% | |||||
| Space systems and primes | ||||||||||||||||
| Voyager Technologies, Inc. | USD | 1,948 | 1,830 | 29.91 | 57% | – | – | 6.7x | n.m. | 3.7x | n.m. | n.m. | n.m. | 78.1% | (14.5%) | |
| York Space Systems | USD | 653 | 1,010 | 7.38 | 17% | – | – | 1.7x | n.m. | 1.3x | 21.2x | n.m. | n.m. | 26.8% | 6.2% | |
| Median | 37% | – | – | 4.2x | – | 2.5x | 21.2x | – | – | 52.5% | (4.1%) | |||||
| Space equipment and onboard electronics | ||||||||||||||||
| AAC Clyde Space AB | SEK | 733 | 838 | 107.60 | – | – | – | 1.7x | 16.3xg† | 1.4x | 13.6xe† | – | (6.3x) | 18.7% | 10.6%e† | |
| Apollo Micro Systems | INR | 161,290 | 157,470 | – | – | – | – | 13.5xg | n.m. | 10.5xe | n.m. | – | 1.8x | 28.3%ge | 24.1%e | |
| Astra Microwave Products | INR | 162,941 | 161,981 | 1,701.10 | – | – | – | 12.5xg | n.m. | 10.6xg | n.m. | – | 0.3x | 18.0%g | 28.7%ge | |
| Centum Electronics | INR | 70,226 | 69,370 | 4,684.10 | – | – | – | 6.6x | n.m. | 5.7xe | n.m. | – | 0.7x | 15.4%e | 12.5%e | |
| Cicor Technologies | CHF | 672 | 590 | 134.60 | – | – | – | 0.9x | 8.1x | 0.9x | 7.1x | – | 1.3x | 8.3% | 12.2% | |
| Creotech Instruments | PLN | 2,894 | 2,947 | 841.00 | – | – | – | 10.3x | n.m. | 7.5x | 32.9x | – | (1.4x) | 37.2% | 22.7% | |
| Data Patterns (India) Limited | INR | 269,210 | 273,380 | – | – | – | – | 24.9xg | n.m. | 20.3xe | n.m. | – | (1.1x) | 22.5%ge | 37.5%e | |
| Espey Mfg. & Electronics | USD | 139 | 184 | 63.23 | – | – | – | 2.9xe | – | 2.8xe | – | – | – | 4.9%e | – | |
| Exail Technologies | EUR | 2,720 | 2,123 | 125.10 | – | – | – | 4.8x | 22.1xe | 3.8x | 17.6xe | – | 0.4x | 25.3% | 21.5%e | |
| Filtronic plc | GBP | 721 | 728 | 3.31 | – | – | – | 12.1x | n.m. | 10.3x | n.m. | – | (0.6x) | 17.3% | 17.6%† | |
| Frequency Electronics, Inc. | USD | 915 | 970 | 86.03 | – | – | – | 12.0x | n.m. | 9.4x | n.m. | – | (6.0x) | 27.5% | 14.3%e | |
| GomSpace Group AB | SEK | 1,666 | 1,750 | 10.09 | – | – | – | 2.8x | n.m. | 2.2x | 20.4x† | – | (1.6x) | 26.5% | 11.0%† | |
| Kitron ASA | EUR | – | – | – | – | – | – | – | – | – | – | – | – | 25.0%ge | – | |
| Lacroix Group | EUR | – | – | – | – | – | – | – | – | – | – | – | – | – | 7.7%e | |
| Mercury Systems, Inc. | USD | 5,270 | 4,980 | 82.80 | 64% | 9% | – | 5.1x | 30.2x | 4.6x | 23.3x | 42.5x | 2.8x | 10.9% | 19.7% | |
| Officina Stellare | EUR | 264 | 253 | 41.90 | – | – | – | 2.3x | 7.5xe | 1.7x | 5.7xe | – | 1.1x | 32.2% | 30.5%e | |
| OHB SE | EUR | 7,960 | 7,770 | 405.50 | – | – | – | 5.7xg | n.m. | 5.1xe | n.m. | – | (1.2x) | 12.2%ge | 10.8%e | |
| Redwire Corporation | USD | 2,080 | 2,550 | 10.24 | – | – | – | 4.4x | n.m. | 3.7x | n.m. | – | n.m. | 18.6% | (15.0%)e | |
| Rovsing A/S | DKK | 42.0 | 37.0 | 32.50 | – | – | – | 1.4xg | n.m. | 1.4xe | n.m. | – | n.m. | (0.8%)ge | (6.6%)e | |
| Satrec Initiative | KRW | 843,248 | 843,248 | 77,000.00 | – | – | – | 3.4x | 25.0x | 2.8xe | 20.9xe | – | – | 19.6%e | 13.6%e | |
| Sidus Space | USD | 17.9 | 183 | 1.81 | – | – | – | 1.9x | – | 1.6xe | – | – | – | 25.0%e | – | |
| York Space Systems | USD | 653 | 1,010 | 7.38 | 17% | – | – | 1.7x | n.m. | 1.3x | 21.2x | n.m. | n.m. | 26.8% | 6.2% | |
| Median | 41% | 9% | – | 4.6x | 19.2x | 3.8x | 20.4x | 42.5x | (0.1x) | 19.6% | 13.6% | |||||
| Launch vehicles and space propulsion | ||||||||||||||||
| Firefly Aerospace Inc. | USD | 3,240 | 3,830 | 22.85 | 37% | (22%) | – | 7.4x | n.m. | 4.7x | n.m. | n.m. | n.m. | 56.5% | (27.0%) | |
| Rocket Lab Corporation | USD | 39,910 | 42,170 | 70.46 | 47% | 47% | – | 41.5x | n.m. | 29.3x | n.m. | n.m. | n.m. | 41.3% | 7.8% | |
| Space Exploration Technologies Corp. | USD | 1,950,000 | 2,010,000 | 148.07 | 66% | – | – | 43.8x | n.m. | 17.3x | 29.6x | 80.0x | (10.2x) | 153.2% | 58.4% | |
| Median | 47% | 13% | – | 41.5x | – | 17.3x | 29.6x | 80.0x | (10.2x) | 56.5% | 7.8% | |||||
| Ground segment | ||||||||||||||||
| HawkEye 360, Inc. | USD | 956 | 1,440 | 14.73 | 41% | – | – | 4.4x | 27.9x | 3.5x | 16.7x | 92.1x | n.m. | 24.9% | 21.1% | |
| Median | 41% | – | – | 4.4x | 27.9x | 3.5x | 16.7x | 92.1x | – | 24.9% | 21.1% | |||||
| Government services contractors | ||||||||||||||||
| Amentum Holdings, Inc. | USD | 7,891 | 4,520 | 18.48 | 48% | – | – | 0.6x | 7.0x | 0.6x | 6.8x | 7.0x~ | 3.3x | 1.0% | 8.3% | |
| Booz Allen Hamilton Holding Corporation | USD | 12,100 | 8,480 | 70.47 | 65% | – | 3.4% | 1.1x | 9.6x | 1.0x | 9.2x | 10.6x | 2.9x | 3.7% | 11.1% | |
| CACI International Inc | USD | 19,047 | 13,860 | 627.06 | 92% | – | – | 1.9x | 15.0x | 1.7x | 13.3x | 17.6x | 4.4x | 9.5% | 12.8% | |
| ICF International, Inc. | USD | 2,090 | 1,530 | 85.05 | 87% | – | 0.7% | 1.1x | 9.7x | 1.0x | 9.1x | 11.0x | 2.8x | 6.3% | 11.4% | |
| KBR, Inc. | USD | 6,897 | 4,420 | 35.05 | 73% | – | 1.9% | 0.9x | 6.9x | 0.8x | 6.9x | 8.6x | 3.7x | 5.6% | 11.8% | |
| Leidos Holdings, Inc. | USD | 21,142 | 15,310 | 121.97 | 59% | – | 1.4% | 1.2x | 8.6x | 1.1x | 8.5x | 9.6x | 2.5x | 4.7% | 13.0% | |
| Maximus, Inc. | USD | 4,473 | 2,800 | 53.53 | 54% | – | 2.5% | 0.8x | 5.9x | 0.8x | 5.8xe | 6.4x~ | 2.4x | 2.9% | 14.3%e | |
| Parsons Corporation | USD | 5,764 | 4,380 | 41.01 | 46% | – | – | 0.9x | 12.1xe | 0.9x | 11.5xe | 12.0x | 2.9x | 5.7% | 7.5%e | |
| QinetiQ Group plc | GBP | 2,640 | 2,470 | – | – | (9%) | 2.3% | 1.3x | 7.7x† | 1.3x | 7.3x† | – | 0.5x | 4.9% | 17.3%† | |
| Science Applications International Corporation | USD | 7,874 | 5,290 | 126.30 | 89% | – | 1.2% | 1.1x | 10.7x | 1.1x | 10.5x | 11.1x | 3.4x | 1.3% | 10.1% | |
| V2X, Inc. | USD | 3,110 | 2,220 | 70.71 | 75% | 22% | – | 0.6x | 8.7x | 0.6x | 8.1x | 10.2x | 2.9x | 5.2% | 7.4% | |
| Median | 69% | 6% | 1.9% | 1.1x | 8.7x | 1.0x | 8.5x | 10.4x | 2.9x | 4.9% | 11.4% | |||||
| Software | ||||||||||||||||
| Everforth, Inc. | USD | 2,827 | 1,480 | 36.19 | 66% | – | – | 0.7x | 7.5x | 0.7x | 7.1x | 8.4x | 3.9x | 2.5% | 9.9% | |
| Median | 66% | – | – | 0.7x | 7.5x | 0.7x | 7.1x | 8.4x | 3.9x | 2.5% | 9.9% | |||||
Money in millions of each company’s own currency. e Argonaut’s own estimate · g the company’s guidance · ~ one fiscal year standing for the calendar year · † after capitalised development cost · n.m. not meaningful. No mark: the analysts’ consensus, or a year the company has reported. Appendix A says how each figure was obtained.
Transactions (52, the latest first)
| Announced | Buyer | Target | Segment | Status | Ccy | Enterprise value (m) | Sales LTM (m) | EBITDA LTM (m) | EV / Sales LTM | EV / EBITDA LTM | EV / Sales forward | EV / EBITDA forward |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 Oct 2026 | Malaysia Aviation Group | Sepang Aircraft Engineering | Aircraft maintenance | Announced | n.d. | – | – | – | – | – | – | |
| 29 Sept 2026 | Greenbriar Equity Group | Spectrum Control | Defence electronics | Announced | USD | n.d. | – | – | – | – | – | – |
| 28 Sept 2026 | AAR Corp. | MRO Holdings | Aircraft maintenance | Announced | USD | 4,000 | 1,000 | 285 | 4.0xcurrent year | 14.0xcurrent year | – | – |
| 21 Sept 2026 | TransDigm Group (Extant Aerospace) | A portfolio of commercial rotorcraft, land systems and business jet products | Aircraft systems | Announced | USD | 240 | – | – | – | – | – | – |
| 14 Sept 2026 | Ondas | GATE Technologies and Bron Technologies | Defence platforms | Announced | USD | 205on price | 65.0 | – | 3.2xcurrent year | – | – | – |
| 12 Sept 2026 | ITC Federal | Capgemini Government Solutions | Government services contractors | Completed 30 Sept 2026 | USD | n.d. | – | – | – | – | – | – |
| 8 Sept 2026 | GE Aerospace | Consolidated Precision Products | Aerospace materials and metal parts | Announced | USD | 11,750 | – | – | – | – | 5.9xnext year | 26.0xnext year, the buyer's multiple |
| 1 Sept 2026 | Bombardier | MHI Canada Aerospace (Mississauga assets) | Aerostructures | Announced | n.d. | – | – | – | – | – | – | |
| 17 Aug 2026 | TTM Technologies | Epiq Solutions | Defence electronics | Completed 30 Sept 2026 | USD | 1,100 | – | – | – | – | 6.9xnext year | 20.3xnext year, estimate |
| 10 Aug 2026 | Archer Aviation | Wisk Aero, Insitu and SkyGrid | Defence platforms | Announced | USD | n.d. | – | – | – | – | – | – |
| 28 Jul 2026 | TransDigm Group | Prince & Izant | Aerospace materials and metal parts | Completed 28 Sept 2026 | USD | 1,066on price | 390 | – | 2.7xcurrent year | – | – | – |
| 28 Jul 2026 | Leonardo DRS | Raft | Software | Announced | USD | 450 | – | – | – | – | – | – |
| 8 Jul 2026 | MDA Space | Collecte Localisation Satellites (about 70%) | Ground segment | Announced | EUR | 1,008estimate | 286 | – | 3.5xcurrent year | 18.6xcurrent year, estimate | – | – |
| 6 Jul 2026 | Thales | Exail Technologies | Defence electronics; Space equipment and onboard electronics | Announced | EUR | 3,900 | 534 | 122 | 7.3x | 32.0x | 5.3xnext year, consensus | 21.4xnext year, consensus |
| 6 Jul 2026 | Fincantieri | Next Geosolutions (52.6%), WSense, Graal Tech and Defcomm | Defence platforms | Announced | EUR | n.d. | – | – | – | – | – | – |
| 6 Jul 2026 | Lockheed Martin | Ultra Maritime | Defence platforms | Announced | USD | 3,450 | 784‡ | – | 4.4x‡current year | – | – | – |
| 29 Jun 2026 | Rocket Lab | Iridium Communications | Ground segment | Announced | USD | 8,000 | 872 | 495 | 9.2x | 16.2x | 8.5x-9.1xcurrent year, consensus | 16.1xcurrent year, consensus |
| 25 Jun 2026 | Airbus and Safran | Aubert & Duval (the stake of Tikehau Capital) | Aerospace materials and metal parts | Announced | EUR | n.d. | – | – | – | – | – | – |
| 22 Jun 2026 | Booz Allen Hamilton | Ultra I&C Mission Solutions | Software | Completed | USD | 720 | – | – | – | – | – | – |
| 19 Jun 2026 | MDA Space | Blue Canyon Technologies | Space systems and primes | Announced | USD | 620 | – | – | – | – | 3.9xcurrent year | 20.4xcurrent year, estimate |
| 5 Jun 2026 | Arcline Investment Management | Continental Aerospace Technologies | Aero-engines and their components | Announced | USD | 535 | 255 | – | 2.1x | – | – | – |
| 2 Jun 2026 | Arxis | Omnetics Connector Corporation and MagCanica | Aircraft systems | Announced | USD | 890 | – | – | – | – | – | 12.0xnext year, the buyer's multiple |
| 1 Jun 2026 | Motorola Solutions | D-Fend Solutions | Defence electronics | Announced | USD | 1,500 | – | – | – | – | 8.1xcurrent year | – |
| 21 May 2026 | Parker-Hannifin | CIRCOR Aerospace | Aircraft systems | Announced | USD | 2,550 | – | – | – | – | 9.4xcurrent year | 22.7xcurrent year, the buyer's multiple |
| 5 May 2026 | PAI Partners and Fondo Italiano d'Investimento | Mecaer Aviation Group | Aircraft systems | Announced | EUR | n.d. | 242 | – | – | – | – | – |
| 7 Apr 2026 | Tinicum and Blackstone | Senior plc | Aircraft systems | Announced | GBP | 1,399 | 738 | – | 1.9x | 15.2xthe buyer's multiple | 1.8xcurrent year, consensus | 14.7xcurrent year, consensus |
| 3 Mar 2026 | Kraken Robotics | Covelya Group | Defence electronics | Announced | CAD | 615on price | 262 | 63.5 | 2.3x | 9.7x | – | – |
| 2 Mar 2026 | J.F. Lehman & Company | Forged Solutions Group | Aerospace materials and metal parts | Completed 2 Mar 2026 | USD | n.d. | – | – | – | – | – | – |
| 13 Feb 2026 | Safran | Syntony | Defence electronics | Announced | EUR | n.d. | – | – | – | – | – | – |
| 2 Feb 2026 | Donaldson Company | Facet Filtration | Aircraft systems | Announced | USD | 820 | 108 | – | 7.6x | 20.0xthe buyer's multiple | – | – |
| 29 Jan 2026 | VSE Corporation | Precision Aviation Group | Aircraft maintenance | Completed 5 May 2026 | USD | 2,025 | 615 | – | 3.3x | 15.0xestimate | – | – |
| 16 Jan 2026 | TransDigm Group | Jet Parts Engineering and Victor Sierra Aviation | Aircraft maintenance | Completed | USD | 2,200 | 280 | – | 7.9x | – | – | – |
| 5 Jan 2026 | AE Industrial Partners | L3Harris space propulsion and power systems (about 60%) | Launch vehicles and space propulsion | Completed | USD | 845 | – | – | – | – | – | – |
| 30 Jun 2025 | TransDigm | Simmonds Precision Products (RTX) | Aircraft systems | Completed | USD | 765 | – | – | – | – | 2.2xcurrent year | – |
| 9 Jun 2025 | Crane Company | Precision Sensors and Instrumentation (Baker Hughes) | Aircraft systems | Completed 1 Jan 2026 | USD | 1,060 | – | – | – | – | 2.7xcurrent year | 17.7xcurrent year |
| 20 May 2025 | RBC Bearings | VACCO Industries (ESCO Technologies) | Aircraft systems | Completed 21 Jul 2025 | USD | 275 | 118 | – | 2.3x | – | – | – |
| 19 May 2025 | TransDigm Group | Servotronics | Aircraft systems | Completed | USD | 133 | 44.9 | – | 3.0x | – | 2.9xNTM, projected | – |
| 3 Feb 2025 | Warburg Pincus and Berkshire Partners | Triumph Group | Aircraft systems | Completed 24 Jul 2025 | USD | 3,000 | 1,260 | 205 | 2.4xcurrent year | 14.7xcurrent year | – | – |
| 14 Jan 2025 | Bain Capital (K.K. BCJ-92) | JAMCO Corporation | Aircraft systems | Completed | JPY | 96,051 | 63,999 | 4,161 | 1.5x | 23.1x | 1.2xNTM, projected | 18.5xNTM, projected |
| 20 Dec 2024 | Woodward | Safran Electronics and Defense Canada, Inc. and certain US and Mexico electromechanical actuation assets (Safran) | Aircraft systems | Completed 21 Jul 2025 | USD | 40.3on price | 65.0 | – | 0.6xcurrent year | – | – | – |
| 4 Nov 2024 | Teledyne Technologies | Micropac Industries | Space equipment and onboard electronics | Completed | USD | 57.3 | 37.3 | – | 1.5x | – | – | – |
| Aug 2024 | Loar Holdings | Applied Avionics | Aircraft systems | Completed | USD | 384 | – | – | – | – | 9.6xNTM | 18.3xNTM |
| 19 Jan 2024 | Arcline Investment Management | Kaman Corporation | Aircraft systems | Completed | USD | 1,800 | 776 | 107 | 2.3x | 16.9x | 2.1xNTM, projected | 15.0xNTM, projected |
| 3 Jan 2024 | Crane Company | Vian Enterprises | Aircraft systems | Completed | USD | 103 | 33.0 | 8.0 | 3.1x | 12.9x | – | – |
| 21 Dec 2023 | AAR Corp | Triumph Group Product Support business | Aircraft systems | Completed | USD | 725 | – | – | – | – | 2.6xNTM | 13.2xNTM |
| 5 Dec 2023 | HENSOLDT AG | ESG Elektroniksystem- und Logistik-GmbH | Space equipment and onboard electronics | Completed | EUR | 675 | 330 | 46.2 | 2.0xcurrent year | 14.6xcurrent year | – | 14.0xnext year, the buyer's multiple |
| 21 Jul 2023 | Safran | Collins Aerospace flight control and actuation business (RTX) | Aircraft systems | Completed 21 Jul 2025 | USD | 1,800 | 1,550 | 130 | 1.2xnext year | 13.8xnext year | – | – |
| 15 May 2023 | HEICO Corporation | Wencor Group | Aircraft systems | Completed | USD | 2,050 | – | – | – | – | 2.8xNTM | 13.4xNTM |
| 3 Oct 2022 | Redwire Corporation | QinetiQ Space NV | Space equipment and onboard electronics | Completed | EUR | 32.0 | 49.0 | 5.0 | 0.7x | 6.4x | – | – |
| 14 Mar 2022 | Groupe Gorgé (now Exail Technologies) | iXblue | Defence electronics | Completed | EUR | 410 | 138 | 27.0 | 3.0x | 15.2x | – | – |
| 31 Mar 2021 | AAC Clyde Space AB | Omnisys Instruments AB | Space equipment and onboard electronics | Completed | SEK | 75.0 | 34.9 | 1.9 | 2.1x | n.m. | – | – |
| 4 Jan 2021 | Teledyne Technologies | FLIR Systems | Defence electronics | Completed | USD | 8,000 | 1,924 | – | 4.2x | – | – | – |
‡ A figure a newspaper reported, not one the buyer or the target states. Appendix B names it.
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Appendix A - the listed companies’ figures, and how each estimate was obtained
Where the EBITDA comes from, in this order of preference: the analysts’ consensus; else the company’s guidance (g); else Argonaut’s own estimate (e). 2026E: consensus 85, guidance 11, Argonaut’s estimate 13, not available 7. 2027E: consensus 82, guidance 2, Argonaut’s estimate 25, not available 7.
| Company | Year end | Price of | Enterprise value is | Sales (m) | How the sales were obtained | EBITDA (m) | How the EBITDA was obtained | To know, and source |
|---|---|---|---|---|---|---|---|---|
| AAC Clyde Space ABNasdaq Stockholm · SE · SEK | Dec | 7 Oct 2026 | built | 2026E4272027E507 | consensus | 2026E44.82027E53.7 | 2026E: guidance2027E: Argonaut estimate - its sales at 11.1%, the margin of FY2026 (guidance)† Less the 2.7 of development cost capitalised in FY2025 (Annual report 2025, note 16: purchases in the capitalised development column; 14.9 reclassified into it from tangible assets is not counted). | Source: Investing.com - AAC Clyde Space AB live share price (undated quote, dated today); StockAnalysis.com - AAC Clyde Space AB Statistics (shares, net debt); Inderes - AAC Clyde Space Year-End Report 2025; AAC Clyde Space interim report Jan-Jun 2026 (FY2026 guidance: net sales SEK 440-510M at about 10% EBITDA margin, midpoint applied); MarketScreener - AAC Clyde Space AB (sales consensus) |
| AAR CorpNYSE · US · USD | May | 1 Oct 2026 | as read | 2026E3,5132027E3,806 | 2026E: consensus, calendarised - 5/12 of FY to May 2026 (3,308, reported) and 7/12 of FY to May 2027 (3,660)2027E: consensus, calendarised - 5/12 of FY to May 2027 (3,660) and 7/12 of FY to May 2028 (3,910) | 2026E4372027E490 | 2026E: consensus, calendarised - 5/12 of FY to May 2026 (401, reported) and 7/12 of FY to May 2027 (462)2027E: consensus, calendarised - 5/12 of FY to May 2027 (462) and 7/12 of FY to May 2028 (511) | Source: stockanalysis.com - AAR Corp. (AIR) Statistics; AAR Corp - Form 8-K Ex.99.1, Q4 FY2026 results (SEC; net debt at 31 May 2026); stockanalysis.com - AAR Corp. (AIR) Stock Forecast; AAR Corp - Form 8-K Ex.99.1, MRO Holdings acquisition (SEC; AAR the buyer, deal pending, not in the EV); StockAnalysis.com - AAR Corp. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - AAR Corp. finances page, read 6 October 2026 |
| AeroVironment, Inc.Nasdaq · US · USD | Apr | 1 Oct 2026 | as read | 2026E2,1262027E2,427 | 2026E: consensus, calendarised - 4/12 of FY to Apr 2026 (1,977, reported) and 8/12 of FY to Apr 2027 (2,200)2027E: consensus, calendarised - 4/12 of FY to Apr 2027 (2,200) and 8/12 of FY to Apr 2028 (2,540) | 2026E3092027E379 | 2026E: consensus, calendarised - 4/12 of FY to Apr 2026 (286, reported) and 8/12 of FY to Apr 2027 (321)2027E: consensus, calendarised - 4/12 of FY to Apr 2027 (321) and 8/12 of FY to Apr 2028 (408) | Source: StockAnalysis.com - AeroVironment, Inc. overview, statistics and forecast pages, read 2 October 2026 (price, forecasts, net debt); AeroVironment fiscal 2026 Q4 and full-year results press release (SEC Exhibit 99.1, 29 June 2026) and fiscal 2026 annual report/10-K segment note (SEC), read 4 October 2026 (reported figures, segments); MarketScreener - AeroVironment, Inc. finances page, read 6 October 2026 |
| AEVEX Corp.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E7562027E916 | consensus | 2026E1142027E161 | consensus | listed 17 April 2026: the 52-week range runs from listingSource: StockAnalysis.com - AEVEX Corp. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - AEVEX Corp. finances page, read 6 October 2026 |
| Airbus SEEuronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E80,9502027E90,490 | consensus | 2026E10,5222027E12,187 | consensus† Less the 356 of development cost capitalised in FY2025 (Financial Statements 2025, note 19). | Source: StockAnalysis.com - Airbus SE overview, statistics and forecast pages, read 2 October 2026; Airbus - Airbus reports Full-Year (FY) 2025 results press release (Feb 2026), airbus.com; AeroMorning - Airbus Reports Full-Year (FY) 2025 Results; MarketScreener - Airbus SE finances page, read 6 October 2026 |
| Amentum Holdings, Inc.NYSE · US · USD | Sep | 1 Oct 2026 | built | 2026E13,9452027E14,085 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (13,910) and 3/12 of FY to Sep 2027 (14,050)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (14,050) and 3/12 of FY to Sep 2028 (14,191, projected at +1.0% a year, the growth between its two forecast years) | 2026E1,1322027E1,163 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (1,122) and 3/12 of FY to Sep 2027 (1,160)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (1,160) and 3/12 of FY to Sep 2028 (1,172, its sales at 8.3%, the margin of FY to Sep 2027 (consensus)) | Source: StockAnalysis.com - Amentum Holdings, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Amentum Holdings, Inc. finances page, read 6 October 2026 |
| Apollo Micro SystemsNational Stock Exchange of India · IN · INR | Mar | 1 Oct 2026 | as read | 2026E11,9252027E15,302 | 2026E: guidance, calendarised - 3/12 of FY to Mar 2026 (9,043, reported) and 9/12 of FY to Mar 2027 (12,886)2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (12,886) and 9/12 of FY to Mar 2028 (16,108, projected at +25.0% a year, its growth from the last reported year held to the most a projection may take) | 2026E2,8782027E3,692 | 2026E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2026 (2,182, reported) and 9/12 of FY to Mar 2027 (3,109, its sales at 24.1%, the margin of the last reported year (FY2026))2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (3,109) and 9/12 of FY to Mar 2028 (3,887), each its sales at 24.1%, the margin of the last reported year (FY2026) | Source: StockAnalysis.com - Apollo Micro Systems (NSE:APOLLO) Statistics; Multibagg - Apollo FY26; Business Standard (ANI) - Apollo Micro Systems FY26 results; Sahi - FY27 guidance (revenue growth 40-45%, midpoint applied to FY2026 revenue) |
| Arxis, Inc.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E2,0002027E2,260 | consensus | 2026E8042027E930 | consensus | listed 16 April 2026: the 52-week range runs from listingSource: StockAnalysis.com - Arxis, Inc. overview, statistics and forecast pages, read 2 October 2026; Yahoo Finance - ARXS income statement (FY2025 and FY2024 revenue), read 4 October 2026; IPOX - Arxis IPO profile, which quotes the S-1 (FY2025 Adjusted EBITDA $571.3m); Arxis Form S-1/A, 10 April 2026 (definition of Adjusted EBITDA, segments); MarketScreener - Arxis, Inc. finances page, read 6 October 2026 |
| Astra Microwave ProductsNational Stock Exchange of India · IN · INR | Mar | 7 Oct 2026 | built | 2026E13,0322027E15,375 | 2026E: guidance, calendarised - 3/12 of FY to Mar 2026 (11,628, reported) and 9/12 of FY to Mar 2027 (13,500)2027E: guidance, calendarised - 3/12 of FY to Mar 2027 (13,500) and 9/12 of FY to Mar 2028 (16,000) | 2026E3,7432027E4,416 | 2026E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2026 (3,340, reported) and 9/12 of FY to Mar 2027 (3,878, its sales at 28.7%, the margin of the last reported year (FY2026))2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (3,878) and 9/12 of FY to Mar 2028 (4,596), each its sales at 28.7%, the margin of the last reported year (FY2026) | Source: Upstox - Astra Microwave share price page, last updated 07 Oct 2026 15:50 IST: share price (INR 1,701.10) and market cap (INR 16,198.09 crore as on 07 Oct 2026), upstox.com; Whalesbook - FY26 results; Screener.in - Astra Microwave consolidated; Multibagg - Astra Microwave Q1 FY27: order book, FY27 guide |
| Astronics CorporationNasdaq · US · USD | Dec | 7 Oct 2026 | as read | 2026E1,0302027E1,140 | consensus | 2026E1612027E178 | Argonaut estimate - its sales at 15.6%, the margin of the last reported year (FY2025) | Source: stockanalysis.com - Astronics (ATRO) Statistics (market cap USD 2.97B, EV USD 3.32B, read 7 Oct 2026); Astronics - 2025 Annual Report to Shareholders (Form ARS); stockanalysis.com - Astronics (ATRO) Forecast; Astronics - Form 10-Q for the quarter ended 4 Jul 2026 (SEC; net debt); Astronics Corp - Form 8-K Ex.99.1, Q2 2026 results (SEC; FY2026 revenue guidance USD 1,020-1,040m); segments: Astronics Form 10-K FY2025 (sec.gov) |
| ATI Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E5,1402027E5,650 | consensus | 2026E1,1692027E1,367 | consensus | Source: StockAnalysis.com - ATI Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - ATI Inc. finances page, read 6 October 2026 |
| Babcock International Group PLCLondon Stock Exchange · GB · GBP | Mar | 1 Oct 2026 | as read | 2026E5,4052027E5,690 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (5,178, reported) and 9/12 of FY to Mar 2027 (5,480)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (5,480) and 9/12 of FY to Mar 2028 (5,760) | 2026E5482027E624 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (429, reported) and 9/12 of FY to Mar 2027 (587)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (587) and 9/12 of FY to Mar 2028 (636) | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not keptSource: StockAnalysis.com - Babcock International Group PLC overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Babcock International Group PLC finances page, read 6 October 2026 |
| BAE Systems plcLondon Stock Exchange · GB · GBP | Dec | 6 Oct 2026 | built | 2026E33,1802027E36,220 | consensus | 2026E4,7362027E5,181 | consensus† Less the 14.0 of development cost capitalised in FY2025 (Annual Report 2025, note 3: internally developed software (12) is not counted). | Source: Yahoo Finance - BAE Systems plc (BA.L) quote page, 6 October 2026: intraday market cap GBP 54.281bn, finance.yahoo.com; StockAnalysis.com - BAE Systems plc statistics and forecast pages, read 2 October 2026: net debt, consensus; BAE Systems 2025 Full Year Results press release, 18 February 2026: sales (aeromorning.com / Business Wire); BAE Systems Preliminary Results Announcement 2025 (investegate.co.uk RNS) and insiderfinance.io FY2025 results summary: segment sales; StockAnalysis.com - BAE Systems plc overview, statistics and forecast pages, read 2 October 2026; BAE Systems 2025 Full Year Results press release, 18 Feb 2026 (via aeromorning.com / Business Wire); segments: BAE Systems Preliminary Results Announcement 2025 (investegate.co.uk RNS) and insiderfinance.io FY2025 results summary, read 4 October 2026; MarketScreener - BAE Systems plc finances page, read 6 October 2026 |
| BigBear.ai HoldingsNYSE · US · USD | Dec | – | not available | 2026E1502027E150 | 2026E: guidance2027E: Argonaut estimate - the year before held, no growth being known | 2026E–2027E– | not available | Source: BigBear.ai Q4 2025 results release; BigBear.ai 8-K Q2 2025 |
| Bombardier Inc.Toronto Stock Exchange · CA · CAD | – | 1 Oct 2026 | as read | 2026E13,8502027E13,850 | Argonaut estimate - the sales of the last twelve months as a data site printed them on 2026-10-02, held: the library keeps no forecast | 2026E1,8502027E1,850 | Argonaut estimate - the EBITDA of the last twelve months as a data site printed them on 2026-10-02, held: the library keeps no forecast | trailing figures in Canadian dollars; the consensus is printed in US dollars and is not keptSource: StockAnalysis.com - Bombardier Inc. overview, statistics and forecast pages, read 2 October 2026 |
| Booz Allen Hamilton Holding CorporationNYSE · US · USD | Mar | 1 Oct 2026 | built | 2026E11,3622027E11,778 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (11,217, reported) and 9/12 of FY to Mar 2027 (11,410)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (11,410) and 9/12 of FY to Mar 2028 (11,900) | 2026E1,2612027E1,312 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (1,229, reported) and 9/12 of FY to Mar 2027 (1,272)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (1,272) and 9/12 of FY to Mar 2028 (1,325) | Source: StockAnalysis.com - Booz Allen Hamilton Holding Corporation overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Booz Allen Hamilton Holding Corporation finances page, read 6 October 2026 |
| BWX Technologies, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E3,8102027E4,220 | consensus | 2026E6602027E738 | consensus | Source: StockAnalysis.com - BWX Technologies, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - BWX Technologies, Inc. finances page, read 6 October 2026 |
| CACI International IncNYSE · US · USD | Jun | 1 Oct 2026 | built | 2026E10,1692027E11,130 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (9,568, reported) and 6/12 of FY to Jun 2027 (10,770)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (10,770) and 6/12 of FY to Jun 2028 (11,490) | 2026E1,2732027E1,429 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (1,174, reported) and 6/12 of FY to Jun 2027 (1,373)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (1,373) and 6/12 of FY to Jun 2028 (1,485) | Source: StockAnalysis.com - CACI International Inc overview, statistics and forecast pages, read 2 October 2026; CACI fiscal 2026 Q4 and full-year results release (Form 8-K Ex. 99.1, 5 August 2026); CACI Form 10-K for fiscal year ended 30 June 2026 (segment information); MarketScreener - CACI International Inc finances page, read 6 October 2026 |
| CAE Inc.Nasdaq · US · USD | – | 1 Oct 2026 | as read | 2026E3,5102027E3,510 | Argonaut estimate - the sales of the last twelve months as a data site printed them on 2026-10-02, held: the library keeps no forecast | 2026E6542027E654 | Argonaut estimate - the EBITDA of the last twelve months as a data site printed them on 2026-10-02, held: the library keeps no forecast | US line, figures in US dollars; the consensus is printed in Canadian dollars and is not keptSource: StockAnalysis.com - CAE Inc. overview, statistics and forecast pages, read 2 October 2026 |
| Carpenter Technology CorporationNYSE · US · USD | Jun | 1 Oct 2026 | as read | 2026E3,3022027E3,660 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (3,124, reported) and 6/12 of FY to Jun 2027 (3,480)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (3,480) and 6/12 of FY to Jun 2028 (3,840) | 2026E9372027E1,104 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (849, reported) and 6/12 of FY to Jun 2027 (1,024)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (1,024) and 6/12 of FY to Jun 2028 (1,184) | the 52-week high is as printedSource: StockAnalysis.com - Carpenter Technology Corporation overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Carpenter Technology Corporation finances page, read 6 October 2026 |
| Centum ElectronicsNational Stock Exchange of India · IN · INR | Mar | 8 Oct 2026 | built | 2026E10,6332027E12,273 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (9,530, reported) and 9/12 of FY to Mar 2027 (11,000)2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (11,000) and 9/12 of FY to Mar 2028 (12,697, projected at +15.4% a year, its growth from the last reported year) | 2026E1,3292027E1,534 | 2026E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2026 (1,191, reported) and 9/12 of FY to Mar 2027 (1,375, its sales at 12.5%, the margin of the last reported year (FY2026))2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (1,375) and 9/12 of FY to Mar 2028 (1,587), each its sales at 12.5%, the margin of the last reported year (FY2026) | Source: Groww - Centum Electronics live share price page, undated so dated 8 Oct 2026: share price (INR 4,684.10) and market cap (INR 6,937 crore), groww.in; Dealroom - Centum FY26 results; Yahoo Finance - Centum Q4 2026 call; Simply Wall St (20 May 2026) - consensus of the one covering analyst: revenue of INR 11b for FY2027 (no FY2028 consensus found) |
| Cicor TechnologiesSIX Swiss Exchange · CH · CHF | Dec | 30 Sept 2026 | as read | 2026E7122027E771 | consensus | 2026E83.42027E94.3 | consensus | Source: StockAnalysis.com - Cicor Technologies (SWX:CICN); Cicor - FY2025 release; Investing.com - Cicor H1 2026 slides; finanzen.ch - Cicor Technologies Fundamentalanalyse (2026-2027 estimates) |
| Crane CompanyNYSE · US · USD | Dec | 7 Oct 2026 | built | 2026E2,8902027E3,050 | consensus | 2026E6492027E715 | consensus | Source: Morningstar - Crane Co (CR:XNYS) quote page, read 8 October 2026: price 204.67 as of 7 October 2026 - morningstar.com; StockAnalysis.com - Crane Company overview, statistics and forecast pages, read 2 October 2026: shares, net debt, consensus sales FY2026 and FY2027; Crane Company news release 'Crane Company Reports Strong Q4 2025 Performance, Initiates 2026 Guidance, Completes Two Acquisitions, and Announces Leadership Transition Plan', 26 January 2026: net sales FY2025 and FY2024, Adjusted EBITDA FY2025, segment net sales - s21.q4cdn.com; MarketScreener - Crane Company finances page, read 6 October 2026 |
| Creotech InstrumentsWarsaw Stock Exchange · PL · PLN | Dec | 2 Oct 2026 | built | 2026E2822027E387 | consensus | 2026E59.02027E88.0 | consensus | Source: StockAnalysis.com - Creotech (WSE:CRI) Statistics, price at 2 Oct 2026; Stockwatch.pl - Creotech wyniki 2025 i strategia do 2029; Creotech - H1 2026 results release; PPCG Stock - Creotech Instruments; Noble Securities - Creotech Instruments recommendation, 8 May 2026 |
| CSG N.V.Euronext Amsterdam · NL · EUR | Dec | 1 Oct 2026 | as read | 2026E7,5302027E8,730 | consensus | 2026E2,0732027E2,485 | consensus† Less the 1.5 of development cost capitalised in FY2025 (Annual report 2025 of Czechoslovak Group a.s., note 16: additions to internally generated intangible assets: no line names development). | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not kept; listed 23 January 2026: the 52-week range runs from listingSource: StockAnalysis.com - CSG N.V. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - CSG N.V. finances page, read 6 October 2026 |
| Curtiss-Wright CorporationNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E3,8002027E4,120 | consensus | 2026E8562027E943 | consensus | Source: StockAnalysis.com - Curtiss-Wright Corporation overview, statistics and forecast pages, read 2 October 2026; Curtiss-Wright Q4 and full-year 2025 results release (Form 8-K Ex. 99.1, 11 February 2026); Curtiss-Wright 2025 Annual Report (Form ARS); MarketScreener - Curtiss-Wright Corporation finances page, read 6 October 2026 |
| Dassault Aviation SAEuronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E8,8302027E9,760 | consensus | 2026E1,0432027E1,207 | consensus | Source: StockAnalysis.com - Dassault Aviation SA overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Dassault Aviation SA finances page, read 6 October 2026 |
| Data Patterns (India) LimitedNational Stock Exchange of India · IN · INR | Mar | 2 Oct 2026 | as read | 2026E10,8092027E13,238 | 2026E: guidance, calendarised - 3/12 of FY to Mar 2026 (9,250, reported) and 9/12 of FY to Mar 2027 (11,329)2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (11,329) and 9/12 of FY to Mar 2028 (13,875, projected at +22.5% a year, its growth from the last reported year) | 2026E4,1142027E4,964 | 2026E: guidance, calendarised - 3/12 of FY to Mar 2026 (3,710, reported) and 9/12 of FY to Mar 2027 (4,248)2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (4,248) and 9/12 of FY to Mar 2028 (5,203, its sales at 37.5%, the margin of FY to Mar 2027 (guidance)) | Source: StockAnalysis.com - Data Patterns (NSE:DATAPATTNS) Statistics; Yahoo Finance - Data Patterns Q4 FY26 earnings call; CXOToday - Data Patterns FY 25-26 results; Investing.com - Data Patterns Q1 FY27 slides (FY2027 guidance: revenue growth 20-25%, EBITDA margin 35-40%, at midpoints) |
| Ducommun IncorporatedNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E8842027E968 | consensus | 2026E1542027E179 | consensus | Source: StockAnalysis.com - Ducommun (DCO) market cap page, as of 1 October 2026: market cap USD 2.6bn, enterprise value USD 2.89bn, stockanalysis.com; stockanalysis.com - Ducommun (DCO) statistics: net debt at 4 July 2026; Ducommun - 2025 Annual Report to Shareholders: sales, Adjusted EBITDA; Ducommun Incorporated Reports Second Quarter 2026 Results; TheFly via stockanalysis.com - Ducommun confirms 2027 revenue target: 2027 EBITDA, a guided ~18% margin on the USD 950m revenue target; StockAnalysis.com - Ducommun forecast page, read 2 October 2026: consensus sales; MarketScreener - Ducommun Incorporated finances page, read 6 October 2026 |
| Eaton Corporation plcNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E32,6802027E36,630 | consensus | 2026E7,7922027E9,070 | consensus | a diversified group: aerospace is one segmentSource: StockAnalysis.com - Eaton Corporation plc overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Eaton Corporation plc finances page, read 6 October 2026 |
| Elbit Systems Ltd.Nasdaq · US · USD | Dec | 1 Oct 2026 | built | 2026E9,1102027E10,160 | consensus | 2026E1,1252027E1,304 | consensus | price times shares is 2.5% above the market cap printedSource: StockAnalysis.com - Elbit Systems Ltd. overview, statistics and forecast pages, read 2 October 2026: price, market cap, shares, net debt, consensus; Elbit Systems Q4/FY2025 results press release, 17 March 2026: sales (elbitsystems.com / nasdaq.com); Elbit Systems Form 20-F FY2025: segment revenue from external customers (sec.gov, eslt-20251231); MarketScreener - Elbit Systems Ltd. finances page, read 6 October 2026 |
| Embraer S.A.NYSE (ADS) · US · USD | Dec | 1 Oct 2026 | as read | 2026E8,5772027E9,566 | consensus | 2026E8392027E977 | consensus† Less the 289 of development cost capitalised in FY2025 (Form 20-F 2025, note 14: the six internally developed columns added up, eVTOL (160.0) among them; 7.8 of acquired software is not counted). | NYSE ADS: the share price is per ADS and no share count is kept; the consensus is that of the NYSE line, in US dollars - the São Paulo line's page prints a lower one (EBITDA 1,033 for 2026)Source: StockAnalysis.com - Embraer S.A. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Embraer S.A. finances page, read 6 October 2026 |
| Espey Mfg. & ElectronicsNYSE American · US · USD | Jun | 2 Oct 2026 | as read | 2026E47.32027E49.6 | 2026E: Argonaut estimate, calendarised - 6/12 of FY to Jun 2026 (46.1, reported) and 6/12 of FY to Jun 2027 (48.4, projected at +4.9% a year, its last reported growth)2027E: Argonaut estimate, calendarised - 6/12 of FY to Jun 2027 (48.4) and 6/12 of FY to Jun 2028 (50.8), each projected at +4.9% a year, its last reported growth | 2026E–2027E– | not available | Source: stockanalysis.com (price 63.23 at close 2026-10-02, market cap 184.29M, EV 138.85M, 2.91M shares; analyst consensus n/a, no forecasts found); GlobeNewswire - Espey reports fourth quarter and year-end results; Stocktitan - Espey 10-Q quarterly report; sec.gov (Form 10-K FY2026) |
| Everforth, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | built | 2026E3,9702027E4,070 | consensus | 2026E3782027E401 | consensus | formerly ASGN Incorporated; commercial and federal government IT servicesSource: StockAnalysis.com - Everforth, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Everforth, Inc. finances page, read 6 October 2026 |
| Exail TechnologiesEuronext Paris · FR · EUR | Dec | 25 Jun 2026 | before the offer | 2026E5722027E717 | consensus | 2026E1232027E154 | Argonaut estimate - its sales at 21.5%, the margin of the last reported year (FY2025) | Source: Zonebourse - cours Exail (close 30 Sep 2026); StockAnalysis.com - EPA:EXA; Boursorama (Actusnews) - Exail résultats annuels 2025; Exail Technologies - Thales va acquérir la participation de la famille Gorgé; Thales - Thales and Exail Technologies sign tender offer agreement; Boursorama - Consensus EXAIL TECHNOLOGIES (prévisions au 18/09/2026, 8 analysts); segments: ABC Bourse - Exail Technologies affiche une croissance de 28% en 2025 (FY2025 revenue release, Feb 2026) |
| ExosensEuronext Paris · FR · EUR | Dec | 4 Oct 2026 | as read | 2026E5302027E600 | 2026E: guidance2027E: Argonaut estimate - projected at +13.2% a year, its growth from the last reported year | 2026E1732027E196 | 2026E: guidance2027E: Argonaut estimate - its sales at 32.6%, the margin of FY2026 (guidance) | Source: StockAnalysis.com - Exosens (EPA:EXENS) Market Cap; Exosens - Full year 2025 results press release; Exosens H1 2026 release (GlobeNewswire); stockopedia.com (undated quote page: price, market cap, EV); exosens.com (incl. net financial debt EUR 197.7m at 31 Dec 2025); live.euronext.com (FY2025 segment revenue) |
| FACC AGVienna Stock Exchange · AT · EUR | Dec | 1 Oct 2026 | as read | 2026E1,0962027E1,230 | consensus | 2026E1062027E139 | consensus | Source: wallstreet-online - FACC Aktie (undated quote); FACC AG Interim Report Q1 2025 (shares); FACC AG - Annual Report 2025 (key figures); FACC AG - Annual Report 2024; FACC AG - H1 2026 release, 19 Aug 2026 (net debt at 30 Jun 2026); Raiffeisen - Aktieninfo FACC (ODDO BHF forecasts of 26 Mar 2026); StockAnalysis.com - FACC AG overview, statistics and forecast pages, read 2 October 2026 |
| Figeac AeroEuronext Paris · FR · EUR | Mar | 21 Aug 2026 | as read | 2026E5302027E586 | 2026E: guidance, calendarised - 3/12 of FY to Mar 2026 (487, reported) and 9/12 of FY to Mar 2027 (545)2027E: guidance, calendarised - 3/12 of FY to Mar 2027 (545) and 9/12 of FY to Mar 2028 (600) | 2026E87.22027E97.5 | 2026E: guidance, calendarised - 3/12 of FY to Mar 2026 (78.6, reported) and 9/12 of FY to Mar 2027 (90.0)2027E: guidance, calendarised - 3/12 of FY to Mar 2027 (90.0) and 9/12 of FY to Mar 2028 (100) | Source: stockanalysis.com - Figeac Aero (EPA:FGA) Statistics (last price 21 Aug 2026); Euronext - FIGEAC AERO: 2025/26 full-year results; Boursorama - Figeac Aéro confirme ses objectifs (FY2026/27 guidance, midpoints); Investir Facilement / La Gazette du Midi - PILOT 28 targets (revenue above 600, EBITDA above 100) |
| Filtronic plcAIM (London Stock Exchange) · GB · GBP | May | 7 Oct 2026 | built | 2026E59.62027E69.9 | 2026E: consensus, calendarised - 5/12 of FY to May 2026 (55.5, reported) and 7/12 of FY to May 2027 (62.6)2027E: consensus, calendarised - 5/12 of FY to May 2027 (62.6) and 7/12 of FY to May 2028 (75.2) | 2026E9.92027E12.3 | 2026E: consensus, calendarised - 5/12 of FY to May 2026 (11.3, reported) and 7/12 of FY to May 2027 (12.9)2027E: consensus, calendarised - 5/12 of FY to May 2027 (12.9) and 7/12 of FY to May 2028 (15.8)† Less the 2.3 of development cost capitalised in FY to May 2026 (Annual Report 2026). | Source: The Motley Fool - Filtronic Plc (LSE: FTC) quote (undated, so dated today; GBP 3.31); StockAnalysis.com - Filtronic (AIM:FTC) (shares); Investegate - Filtronic full year results for the year ended 31 May 2026; Insider Media - Filtronic FY2026 results; Quartr - Filtronic H2 2026; MarketScreener - Filtronic plc calendar and financial forecasts |
| Firefly Aerospace Inc.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E4392027E686 | consensus | 2026E-2752027E-185 | consensus | Source: StockAnalysis.com - Firefly Aerospace Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Firefly Aerospace Inc. finances page, read 6 October 2026 |
| Frequency Electronics, Inc.Nasdaq · US · USD | Apr | 2 Oct 2026 | as read | 2026E76.22027E97.1 | 2026E: consensus, calendarised - 4/12 of FY to Apr 2026 (63.2, reported) and 8/12 of FY to Apr 2027 (82.7)2027E: consensus, calendarised - 4/12 of FY to Apr 2027 (82.7) and 8/12 of FY to Apr 2028 (104) | 2026E10.92027E13.9 | 2026E: Argonaut estimate, calendarised - 4/12 of FY to Apr 2026 (9.0, reported) and 8/12 of FY to Apr 2027 (11.8, its sales at 14.3%, the margin of the last reported year (FY2026))2027E: Argonaut estimate, calendarised - 4/12 of FY to Apr 2027 (11.8) and 8/12 of FY to Apr 2028 (14.9), each its sales at 14.3%, the margin of the last reported year (FY2026) | Source: StockAnalysis.com - FEIM Statistics & Valuation (price at close 2 Oct 2026, read 4 Oct 2026); StockAnalysis.com - FEIM Stock Forecast; SEC - Frequency Electronics 8-K exhibit 99.1 FY2026; SEC - Frequency Electronics Form 10-K FY2026; SEC - Frequency Electronics 8-K exhibit 99.1, Q1 FY2027 |
| FTAI Aviation Ltd.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E3,9002027E6,600 | consensus | 2026E1,3582027E2,189 | consensus | Source: StockAnalysis.com - FTAI Aviation Ltd. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - FTAI Aviation Ltd. finances page, read 6 October 2026 |
| General Dynamics CorporationNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E55,9002027E58,570 | consensus | 2026E6,8242027E7,402 | consensus | Source: StockAnalysis.com - General Dynamics Corporation overview, statistics and forecast pages, read 2 October 2026; reported figures: General Dynamics Form 10-K FY2025 (sec.gov), GovConWire 'General Dynamics Q4, Full Fiscal 2025 Financial Results' (Jan 2026), Motley Fool GD Q4 2025 earnings call transcript (28 Jan 2026), read 4 October 2026; MarketScreener - General Dynamics Corporation finances page, read 6 October 2026 |
| General Electric CompanyNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E50,3002027E55,800 | consensus | 2026E12,0002027E13,622 | consensus | Source: StockAnalysis.com - General Electric Company overview, statistics and forecast pages, read 2 October 2026; MarketScreener - General Electric Company finances page, read 6 October 2026 |
| Gogo Inc.Nasdaq · US · USD | Dec | 30 Sept 2026 | as read | 2026E8942027E931 | consensus | 2026E1802027E187 | 2026E: guidance2027E: Argonaut estimate - its sales at 20.1%, the margin of FY2026 (guidance) | Source: stockanalysis.com - Gogo Inc. (GOGO) Statistics; Gogo Inc. - Form 8-K Ex. 99.1, Q4 and FY2025 results; Gogo Announces Second Quarter Results (GlobeNewswire, 6 Aug 2026; FY2026 Adjusted EBITDA guidance USD 175-185m, midpoint); stockanalysis.com - Gogo Inc. (GOGO) Forecast (consensus, 3 Sep 2026); Gogo Inc. - Form 10-Q for the quarter ended 30 Jun 2026 (SEC; net debt) |
| GomSpace Group ABNasdaq Stockholm · SE · SEK | Dec | 8 Oct 2026 | built | 2026E5862027E741 | consensus | 2026E32.02027E81.8 | consensus† Less the 36.0 of development cost capitalised in FY2025 (Annual Report 2025, note 12: appears to be after government grants). | Source: StockAnalysis.com - GomSpace Group AB (STO:GOMX) Market Cap page, read 8 Oct 2026: market cap SEK 1.75B, share price SEK 10.09 (8 Oct 2026, 9:26 CET), stockanalysis.com; StockAnalysis.com - GomSpace Group AB (STO:GOMX) overview, read 27 Sep 2026: shares outstanding 173.52M, stockanalysis.com; StockAnalysis.com - GomSpace Group AB Statistics (net cash); GomSpace - Q4 2025 and full-year report release; Redeye - GomSpace Group Research Update Q1 2026; MarketScreener India - GomSpace Group AB Financial Data Forecasts Estimates |
| HawkEye 360, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E2182027E272 | consensus | 2026E34.22027E57.3 | consensus | listed 7 May 2026: the 52-week range runs from listingSource: StockAnalysis.com - HawkEye 360, Inc. overview, statistics and forecast pages, read 2 October 2026; sec.gov (FY2025 revenue 98,743 + related-party revenue 18,917 thousand; FY2024 revenue 49,835 + related-party revenue 17,724 thousand); sec.gov (adjusted EBITDA $24.8m FY2025; single segment); MarketScreener - HawkEye 360, Inc. finances page, read 6 October 2026 |
| HEICO CorporationNYSE · US · USD | Oct | 7 Oct 2026 | as read | 2026E5,5032027E6,135 | 2026E: consensus, calendarised - 10/12 of FY to Oct 2026 (5,400) and 2/12 of FY to Oct 2027 (6,020)2027E: consensus, calendarised - 10/12 of FY to Oct 2027 (6,020) and 2/12 of FY to Oct 2028 (6,711, projected at +11.5% a year, the growth between its two forecast years) | 2026E1,5682027E1,754 | 2026E: consensus, calendarised - 10/12 of FY to Oct 2026 (1,537) and 2/12 of FY to Oct 2027 (1,721)2027E: consensus, calendarised - 10/12 of FY to Oct 2027 (1,721) and 2/12 of FY to Oct 2028 (1,919, its sales at 28.6%, the margin of FY to Oct 2027 (consensus)) | Source: StockAnalysis.com - HEICO (HEI) Statistics, close 7 Oct 2026 (last updated 8 Oct 2026): share price, market cap, enterprise value, shares outstanding, net cash, stockanalysis.com; HEICO Corp - Form 8-K Ex.99.1, FY2025 results (SEC); HEICO Corp - Form 10-K FY2025 (SEC); stockanalysis.com - HEICO (HEI) Stock Forecast; MarketScreener - HEICO Corporation finances page, read 6 October 2026 |
| HENSOLDT AGXetra · DE · EUR | Dec | 1 Oct 2026 | as read | 2026E2,8002027E3,260 | consensus | 2026E4162027E526 | consensus† Less the 100 of development cost capitalised in FY2025 (Geschäftsbericht 2025, note 18). | Source: StockAnalysis.com - HENSOLDT AG overview, statistics and forecast pages, read 2 October 2026; HENSOLDT 'Financial year 2025' press release (hensoldt.net); Investing.com - Hensoldt confirms growth path with record orders; Quartr - Hensoldt Q2 2026 summary (FY2026 guidance: margin 18.5-19% midpoint applied to guided revenue EUR 2,750m); MarketScreener - HENSOLDT AG finances page, read 6 October 2026 |
| HexcelNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E2,1002027E2,340 | consensus | 2026E4062027E479 | consensus | Source: stockanalysis.com - Hexcel (HXL) Statistics; stockanalysis.com - Hexcel (HXL) Forecast (revenue history and consensus); The Globe and Mail / TipRanks - Hexcel Eyes 2026 Rebound Despite 2025 Headwinds; StockAnalysis.com - Hexcel Corporation overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Hexcel Corporation finances page, read 6 October 2026 |
| Honeywell Aerospace Inc.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E18,3402027E19,800 | consensus | 2026E4,6992027E5,195 | consensus | regular trading began 29 June 2026: the 52-week range runs from listing, and the high printed could not be cross-checkedSource: StockAnalysis.com - Honeywell Aerospace Inc. overview, statistics and forecast pages, read 2 October 2026; Honeywell Aerospace Investor Presentation 2026: 2025 net sales $17.4B; the company reports Adjusted EBIT of 4,458, not EBITDA - investor.honeywellaerospace.com; MarketScreener - Honeywell Aerospace Inc. finances page, read 6 October 2026 |
| Howmet Aerospace Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E10,1102027E11,490 | consensus | 2026E3,2592027E3,806 | consensus | Source: StockAnalysis.com - Howmet Aerospace Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Howmet Aerospace Inc. finances page, read 6 October 2026 |
| Huntington Ingalls Industries, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E13,3502027E14,200 | consensus | 2026E1,0772027E1,239 | consensus | cash of USD 12m as printedSource: StockAnalysis.com - Huntington Ingalls Industries, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Huntington Ingalls Industries, Inc. finances page, read 6 October 2026 |
| ICF International, Inc.Nasdaq · US · USD | Dec | 1 Oct 2026 | built | 2026E1,9002027E2,020 | consensus | 2026E2152027E230 | consensus | Source: StockAnalysis.com - ICF International, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - ICF International, Inc. finances page, read 6 October 2026 |
| Indra Sistemas, S.A.Bolsa de Madrid · ES · EUR | Dec | 1 Oct 2026 | as read | 2026E7,0602027E7,810 | consensus | 2026E8832027E1,036 | consensus† Less the 87.7 of development cost capitalised in FY2025 (Consolidated annual accounts 2025, note 9: additions to development expenses; the management report gives 56 for the projects it classes as R&D). | Source: StockAnalysis.com - Indra Sistemas, S.A. overview, statistics and forecast pages, read 2 October 2026; reported figures: Indra Group 2025 Results infographic, Feb 2026 (indragroup.com); MarketScreener - Indra Sistemas, S.A. finances page, read 6 October 2026 |
| Karman Holdings Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E7412027E949 | consensus | 2026E2192027E282 | consensus | Source: StockAnalysis.com - Karman Holdings Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Karman Holdings Inc. finances page, read 6 October 2026 |
| KBR, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | built | 2026E8,0602027E8,510 | consensus | 2026E1,0032027E1,001 | consensus | figures of the whole group, before the planned spin-off of Mission Technology SolutionsSource: StockAnalysis.com - KBR, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - KBR, Inc. finances page, read 6 October 2026 |
| Kitron ASAOslo Stock Exchange · NO · EUR | Dec | 2 Oct 2026 | not available | 2026E9752027E1,219 | 2026E: guidance2027E: Argonaut estimate - projected at +25.0% a year, its growth from the last reported year held to the most a projection may take | 2026E–2027E– | not available | Source: Kitron - 2025 Q4 Presentation (FY2025 figures, net cash, 2026 outlook revenue EUR 900-1,050M at midpoint); StockAnalysis.com - Kitron ASA Statistics (market capitalisation NOK 20,860M and EV NOK 21,210M, in NOK only, not converted to the EUR reporting currency) |
| Kongsberg Gruppen ASAOslo Børs · NO · NOK | Dec | 1 Oct 2026 | built | 2026E43,2302027E64,590 | consensus | 2026E8,2852027E12,787 | consensus† Less the 282 of development cost capitalised in FY2025 (Annual Report 2025, note 14: without the maritime business). | the market cap and EV printed were on an older price and are not kept; the trailing figures look restated for the separation of the maritime business, and the consensus revenue of the next year may be on another perimeterSource: StockAnalysis.com - Kongsberg Gruppen ASA overview, statistics and forecast pages, read 2 October 2026 (price, forecasts, net debt); Kongsberg Gruppen Annual Report 2025, consolidated statement of income and financial performance section (via financialfilings.com and MarketScreener), read 4 October 2026 (reported figures, segments); kongsberg.com Q4 2025 results release (Kongsberg Discovery revenue); MarketScreener - Kongsberg Gruppen ASA finances page, read 6 October 2026 |
| Kopin CorporationNasdaq · US · USD | Dec | 4 Oct 2026 | built | 2026E60.72027E79.1 | consensus | 2026E–2027E– | not available | Source: StockAnalysis.com - Kopin (KOPN) Statistics; StockAnalysis.com - Kopin (KOPN) Stock Forecast & Analyst Price Targets; Kopin - Fourth Quarter 2025 Financial Results; cnbc.com (price, market cap, shares); ca.finance.yahoo.com (total revenue for FY2025 and FY2024); sec.gov; stockanalysis.com (consensus revenue FY2026 and FY2027); sec.gov (Q2 2026 results: cash and cash equivalents $24.3m at 27 June 2026, excluding $26.0m restricted cash |
| Kratos Defense & Security Solutions, Inc.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E1,7902027E2,220 | consensus | 2026E1772027E241 | consensus | Source: StockAnalysis.com - Kratos Defense & Security Solutions, Inc. overview, statistics and forecast pages, read 2 October 2026; Kratos - Kratos Reports Fourth Quarter and Full Year 2025 Financial Results (23 Feb 2026), kratosdefense.com and SEC 8-K Exhibit 99.1; MarketScreener - Kratos Defense & Security Solutions, Inc. finances page, read 6 October 2026 |
| L3Harris Technologies, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E23,6102027E25,210 | consensus | 2026E4,3052027E4,639 | consensus | Source: StockAnalysis.com - L3Harris Technologies, Inc. overview, statistics and forecast pages, read 2 October 2026; reported figures: L3Harris Q4/FY2025 results press release, 29 Jan 2026 (investors.l3harris.com); L3Harris - Q4/FY2025 earnings release Ex.99.1 (SEC); segments: L3Harris Q4/FY2025 results press release (businesswire.com / morningstar.com, 29 Jan 2026); MarketScreener - L3Harris Technologies, Inc. finances page, read 6 October 2026 |
| Lacroix GroupEuronext Paris · FR · EUR | Dec | – | not available | 2026E4462027E446 | Argonaut estimate - the year before held, no growth being known | 2026E34.12027E34.1 | Argonaut estimate - its sales at 7.7%, the margin of the last reported year (FY2025) | Source: Lacroix - Communiqué résultats annuels 2025; Lacroix - Présentation investisseurs résultats 2025 |
| Leidos Holdings, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | built | 2026E18,3202027E19,190 | consensus | 2026E2,4622027E2,488 | consensus | Source: StockAnalysis.com - Leidos Holdings, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Leidos Holdings, Inc. finances page, read 6 October 2026 |
| Leonardo DRS, Inc.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E3,9502027E4,220 | consensus | 2026E5322027E588 | consensus | Source: StockAnalysis.com - Leonardo DRS, Inc. overview, statistics and forecast pages, read 2 October 2026; Leonardo DRS press release 'Financial Results for Fourth Quarter and Full Year 2025' (investors.leonardodrs.com); SEC - Leonardo DRS Q2 2026 earnings press release; MarketScreener - Leonardo DRS, Inc. finances page, read 6 October 2026 |
| Leonardo S.p.A.Borsa Italiana · IT · EUR | Dec | 1 Oct 2026 | as read | 2026E22,3302027E24,730 | consensus | 2026E2,7542027E3,209 | consensus† Less the 147 of development cost capitalised in FY2025 (Integrated Annual Report 2025, note 9: net of grants; the 150 of non-recurring costs of Law 808 programmes is not counted). | Source: StockAnalysis.com - Leonardo S.p.A. overview, statistics and forecast pages, read 2 October 2026; Leonardo FY2025 results press release, 12 Mar 2026 (revenues €bil. 19.5); MarketScreener - Leonardo S.p.A. finances page, read 6 October 2026 |
| LISI S.A.Euronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E1,9102027E2,120 | consensus | 2026E3072027E349 | consensus† Less the 3.1 of development cost capitalised in FY2025 (Document d'enregistrement universel 2025, note 3.5.5: the line "Projets activés"). | Source: StockAnalysis.com - LISI S.A. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - LISI S.A. finances page, read 6 October 2026 |
| Loar HoldingsNYSE · US · USD | Dec | 29 Sept 2026 | as read | 2026E6732027E747 | consensus | 2026E2702027E305 | consensus | Source: stockanalysis.com - Loar Holdings (LOAR) Statistics; Loar Holdings - Q4 and FY2025 results release; stockanalysis.com - Loar Holdings (LOAR) Forecast; Investing.com - Loar Q2 2026 slides / call (FY2026 Adjusted EBITDA guidance USD 265-270m, midpoint); Loar Holdings Inc. Reports Q2 2026 Record Results and Upward Revision to 2026 Outlook (net debt at 30 Jun 2026); MarketScreener - Loar Holdings Inc. finances page, read 6 October 2026 |
| Lockheed Martin CorporationNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E81,0102027E85,550 | consensus | 2026E11,2692027E11,867 | consensus | Source: StockAnalysis.com - Lockheed Martin Corporation overview, statistics and forecast pages, read 2 October 2026; reported figures: Lockheed Martin Q4 and FY2025 results release, 29 Jan 2026 (news.lockheedmartin.com / investors.lockheedmartin.com) and 2025 Annual Report, read 4 October 2026; MarketScreener - Lockheed Martin Corporation finances page, read 6 October 2026 |
| Lumibird SAEuronext Paris · FR · EUR | Dec | 4 Oct 2026 | built | 2026E2452027E267 | consensus | 2026E54.02027E62.0 | consensus | Source: StockAnalysis.com - Lumibird (EPA:LBIRD) Stock Price & Overview; Actusnews - Lumibird 2025 annual results; Actusnews - Lumibird H1 2026 results; boursorama.com / webdisclosure.fr Lumibird FY2025 results (2026-03-10); actusnews.com FY2025 sales (2026-01-26); boursorama.com (price 2026-10-04; consensus as of 2026-09-29); stockanalysis.com (net debt: debt 146.19 less cash 61.70, page updated 2026-09-16) |
| Magellan Aerospace CorporationToronto Stock Exchange · CA · CAD | Dec | 1 Oct 2026 | as read | 2026E1,1802027E1,250 | consensus | 2026E1602027E181 | consensus† Less the 0.9 of development cost capitalised in FY2025 (2025 Annual Report, note 11). | Source: StockAnalysis.com - Magellan Aerospace Corporation overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Magellan Aerospace Corporation finances page, read 6 October 2026 |
| Maximus, Inc.NYSE · US · USD | Sep | 1 Oct 2026 | built | 2026E5,2682027E5,419 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (5,230) and 3/12 of FY to Sep 2027 (5,380)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (5,380) and 3/12 of FY to Sep 2028 (5,534, projected at +2.9% a year, the growth between its two forecast years) | 2026E7552027E777 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (750) and 3/12 of FY to Sep 2027 (771, its sales at 14.3%, the margin of FY to Sep 2026 (consensus))2027E: Argonaut estimate, calendarised - 9/12 of FY to Sep 2027 (771) and 3/12 of FY to Sep 2028 (793), each its sales at 14.3%, the margin of FY to Sep 2026 (consensus) | Source: StockAnalysis.com - Maximus, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Maximus, Inc. finances page, read 6 October 2026 |
| Melrose Industries PLCLondon Stock Exchange · GB · GBP | Dec | 1 Oct 2026 | as read | 2026E3,8502027E4,200 | consensus | 2026E8362027E1,011 | consensus† Less the 7.0 of development cost capitalised in FY2025 (Annual Report 2025, note 11). | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not keptSource: StockAnalysis.com - Melrose Industries PLC overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Melrose Industries PLC finances page, read 6 October 2026 |
| Mercury Systems, Inc.Nasdaq · US · USD | Jun | 6 Oct 2026 | as read | 2026E1,0372027E1,150 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (984, reported) and 6/12 of FY to Jun 2027 (1,090)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (1,090) and 6/12 of FY to Jun 2028 (1,210) | 2026E1752027E226 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (150, reported) and 6/12 of FY to Jun 2027 (199)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (199) and 6/12 of FY to Jun 2028 (253) | Source: StockAnalysis.com - Mercury Systems (MRCY) Statistics, read 8 October 2026: share price USD 82.80 at close 6 October 2026, market cap USD 4.98B, enterprise value USD 5.27B, shares 60.14M - stockanalysis.com; StockAnalysis.com - MRCY Stock Forecast; SEC - Mercury 8-K exhibit 99.1 FY2026; Yahoo Finance - Mercury Q4 call (FY2027 adjusted EBITDA close to USD 200M); StockAnalysis.com - Mercury Systems, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Mercury Systems, Inc. finances page, read 6 October 2026 |
| Montana Aerospace AGSIX Swiss Exchange · CH · EUR | Dec | 17 Sept 2026 | not available | 2026E1,0002027E1,100 | guidance | 2026E1852027E210 | guidance | Source: Montana Aerospace - press release, FY 2025 results; Investing.com - Montana Aerospace H1 2026 slides (guidance, net debt at 30 Jun 2026); stockanalysis.com - Montana Aerospace (SWX:AERO) Statistics (quote of 17 Sep 2026 only in CHF: market cap CHF 1,490m, EV CHF 1,530m, not converted into the EUR reporting currency) |
| Moog Inc.NYSE · US · USD | Sep | 7 Oct 2026 | as read | 2026E4,4702027E4,796 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (4,390) and 3/12 of FY to Sep 2027 (4,710)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (4,710) and 3/12 of FY to Sep 2028 (5,053, projected at +7.3% a year, the growth between its two forecast years) | 2026E6742027E718 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (664) and 3/12 of FY to Sep 2027 (705)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (705) and 3/12 of FY to Sep 2028 (756, its sales at 15.0%, the margin of FY to Sep 2027 (consensus)) | Source: StockAnalysis.com - Moog Inc. (MOG.A) Statistics, 7 October 2026: intraday price 361.75, market cap 11.46B, EV 12.54B, net debt 1.08B; StockAnalysis.com - Moog Inc. (MOG.A) Stock Forecast, read again 8 October 2026 (page retrieved 4 October 2026): analysts' consensus revenue FY2026 (to 30 Sep 2026) 4.39B, FY2027 (to 30 Sep 2027) 4.71B - stockanalysis.com; Moog Inc. Form 8-K Exhibit 99.1, Q3 FY2026 results, 31 July 2026: FY2026 net sales guidance raised to USD 4.4bn (cross-check) - sec.gov; Moog Inc. 2025 Annual Report (SEC Form ARS) and Form 10-K FY2025: net sales FY2025 and FY2024, segment net sales; MarketScreener - Moog Inc. finances page, read 6 October 2026 |
| MTU Aero Engines AGXetra · DE · EUR | Dec | 1 Oct 2026 | as read | 2026E9,7002027E10,670 | consensus | 2026E1,7522027E1,900 | consensus† Less the 93.0 of development cost capitalised in FY2025 (Annual Report 2025, note 2: the company's own line; 81 of it is in intangible assets). | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not keptSource: StockAnalysis.com - MTU Aero Engines AG overview, statistics and forecast pages, read 2 October 2026; MarketScreener - MTU Aero Engines AG finances page, read 6 October 2026 |
| Northrop Grumman CorporationNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E44,0702027E47,020 | consensus | 2026E6,1972027E6,657 | consensus | Source: StockAnalysis.com - Northrop Grumman Corporation overview, statistics and forecast pages, read 2 October 2026; Northrop Grumman 2025 Annual Report (SEC Form ARS, noc-2025_arsa.pdf), segment sales table; MarketScreener - Northrop Grumman Corporation finances page, read 6 October 2026 |
| Officina StellareEuronext Growth Milan · IT · EUR | Dec | 8 Oct 2026 | as read | 2026E1152027E152 | consensus | 2026E35.02027E46.3 | Argonaut estimate - its sales at 30.5%, the margin of the last reported year (FY2025) | Source: StockAnalysis.com - Officina Stellare (BIT:OS) Statistics, undated so dated today 8 October 2026: share price EUR 41.90, market cap EUR 252.71m, enterprise value EUR 263.62m, 6.05m shares, stockanalysis.com; MarketScreener - Officina Stellare S.p.A. quote page: 2026/2027 net sales consensus; Officina Stellare - press release, Board approves the 2025 draft financial statements and consolidated financial statements (emarketstorage.it, May 2026): value of production 26.6, EBITDA 8.1, prior 22.0, net financial debt 8.9 at 31 Dec 2025; Soldionline - i conti del 2025; Il Sole 24 Ore - EGM under the microscope: stand-alone 2025 figures |
| OHB SEFrankfurt Stock Exchange (Xetra, Prime Standard) · DE · EUR | Dec | 1 Oct 2026 | as read | 2026E1,4002027E1,571 | 2026E: guidance2027E: Argonaut estimate - projected at +12.2% a year, its growth from the last reported year | 2026E1512027E169 | 2026E: guidance2027E: Argonaut estimate - its sales at 10.8%, the margin of FY2026 (guidance) | Source: finanzen.at - OHB SE-Aktie (Schlussstand 30.09.2026); StockAnalysis.com - OHB SE (ETR:OHB) Statistics; OHB SE - Consolidated Financial Statements 2025; Börse Global - OHB: 10 Milliarden Euro SATCOMBw4 ab 2027 (FY2026 guidance: output about EUR 1.4bn, adjusted EBITDA margin 10.5-11%, midpoint applied); Stockopedia - OHB SE share price and financials (undated) |
| Optex Systems HoldingsNasdaq · US · USD | Sep | 2 Oct 2026 | as read | 2026E44.72027E47.6 | 2026E: guidance, calendarised - 9/12 of FY to Sep 2026 (44.0) and 3/12 of FY to Sep 2027 (46.9, projected at +6.5% a year, its growth from the last reported year)2027E: Argonaut estimate, calendarised - 9/12 of FY to Sep 2027 (46.9) and 3/12 of FY to Sep 2028 (49.9), each projected at +6.5% a year, its growth from the last reported year | 2026E8.12027E8.7 | 2026E: guidance, calendarised - 9/12 of FY to Sep 2026 (8.0) and 3/12 of FY to Sep 2027 (8.5, its sales at 18.2%, the margin of FY to Sep 2026 (guidance))2027E: Argonaut estimate, calendarised - 9/12 of FY to Sep 2027 (8.5) and 3/12 of FY to Sep 2028 (9.1), each its sales at 18.2%, the margin of FY to Sep 2026 (guidance) | Source: StockAnalysis.com - Optex Systems Holdings (OPXS) Statistics; Optex Systems FY2025 financial highlights; SEC - Optex Systems 8-K Ex.99.1, Fiscal Q3 2026 results; stockanalysis.com (close 2 Oct 2026: price, market cap, EV, shares, net cash 4.69M), read 2026-10-04; ir.stockpr.com; investing.com (reported figures as held); forecasts re-read 2026-10-07: sec.gov (Q3 FY2026 release, 11 Aug 2026: FY2026 revenue guidance $43-45M reiterated, Adjusted EBITDA $7.5-8.5M; there is no later revision and no FY2027 guidance); segments: FY2025 Form 10-K sec.gov |
| Parker-Hannifin CorporationNYSE · US · USD | Jun | 1 Oct 2026 | as read | 2026E22,9802027E25,435 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (21,499, reported) and 6/12 of FY to Jun 2027 (24,460)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (24,460) and 6/12 of FY to Jun 2028 (26,410) | 2026E6,2852027E7,002 | 2026E: consensus, calendarised - 6/12 of FY to Jun 2026 (5,955, reported) and 6/12 of FY to Jun 2027 (6,615)2027E: consensus, calendarised - 6/12 of FY to Jun 2027 (6,615) and 6/12 of FY to Jun 2028 (7,389) | a diversified group: aerospace is one segmentSource: StockAnalysis.com - Parker-Hannifin Corporation overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Parker-Hannifin Corporation finances page, read 6 October 2026 |
| Parsons CorporationNYSE · US · USD | Dec | 1 Oct 2026 | built | 2026E6,3602027E6,720 | consensus | 2026E4762027E503 | Argonaut estimate - its sales at 7.5%, the EBITDA margin of the last twelve months as a data site prints it | Source: StockAnalysis.com - Parsons Corporation overview, statistics and forecast pages, read 2 October 2026 |
| QinetiQ Group plcLondon Stock Exchange · GB · GBP | Mar | 1 Oct 2026 | as read | 2026E1,9882027E2,085 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (1,923, reported) and 9/12 of FY to Mar 2027 (2,010)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (2,010) and 9/12 of FY to Mar 2028 (2,110) | 2026E3442027E360 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (344, reported) and 9/12 of FY to Mar 2027 (347)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (347) and 9/12 of FY to Mar 2028 (366)† Less the 1.7 of development cost capitalised in FY to Mar 2026 (Annual Report and Accounts 2026, note 14). | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not keptSource: StockAnalysis.com - QinetiQ Group plc overview, statistics and forecast pages, read 2 October 2026 (price, EV, market cap, shares, net debt, forecasts); QinetiQ FY26 preliminary results for the year ended 31 March 2026 (RNS 20 May 2026, rns-pdf.londonstockexchange.com/rns/1743F_1-2026-5-20.pdf), read 4 October 2026 (revenue, underlying EBITDA, segments); MarketScreener - QinetiQ Group plc finances page, read 6 October 2026 |
| RBC Bearings IncorporatedNYSE · US · USD | Mar | 1 Oct 2026 | as read | 2026E2,0652027E2,295 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (1,871, reported) and 9/12 of FY to Mar 2027 (2,130)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (2,130) and 9/12 of FY to Mar 2028 (2,350) | 2026E6712027E750 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (605, reported) and 9/12 of FY to Mar 2027 (692)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (692) and 9/12 of FY to Mar 2028 (769) | Source: stockanalysis.com - RBC Bearings (RBC) Statistics; RBC Bearings - FY2026 results release; stockanalysis.com - RBC Bearings (RBC) Forecast (S&P Global consensus); StockAnalysis.com - RBC Bearings Incorporated overview, statistics and forecast pages, read 2 October 2026; MarketScreener - RBC Bearings Incorporated finances page, read 6 October 2026 |
| Redwire CorporationNYSE · US · USD | Dec | 7 Oct 2026 | as read | 2026E4752027E564 | consensus | 2026E-71.32027E-84.6 | Argonaut estimate - its sales at -15.0%, the margin of the last reported year (FY2025) | Source: StockAnalysis.com - Redwire (RDW) Statistics, read 8 October 2026: price USD 10.24 at close 7 October 2026, market cap USD 2.55B, enterprise value USD 2.08B, 248.96M shares - stockanalysis.com; StockAnalysis.com - Redwire (RDW) Stock Forecast: consensus revenue FY2026-FY2027; Redwire FY2025 results release (SEC exhibit 99.1): revenue, adjusted EBITDA; SEC - Redwire 8-K exhibit 99.1, Q2 2026: net debt |
| RENK Group AGXetra · DE · EUR | Dec | 1 Oct 2026 | as read | 2026E1,5402027E1,830 | consensus | 2026E3232027E397 | consensus | Source: StockAnalysis.com - RENK Group AG overview, statistics and forecast pages, read 2 October 2026; MarketScreener - RENK Group AG finances page, read 6 October 2026 |
| Rheinmetall AGXetra · DE · EUR | Dec | 1 Oct 2026 | built | 2026E13,9502027E18,650 | consensus | 2026E3,0662027E4,309 | consensus† Less the 104 of development cost capitalised in FY2025 (Annual Report 2025, note 18: continuing operations). | cash of EUR 255m as printedSource: StockAnalysis.com - Rheinmetall AG overview, statistics and forecast pages, read 2 October 2026; Rheinmetall press release 11 Mar 2026, Annual Report 2025; MarketScreener - Rheinmetall AG finances page, read 6 October 2026 |
| Rocket Lab CorporationNasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E9622027E1,360 | consensus | 2026E-51.82027E106 | consensus | Source: StockAnalysis.com - Rocket Lab Corporation overview, statistics and forecast pages, read 2 October 2026: price, market cap, enterprise value, shares, net cash, consensus revenue; Rocket Lab Q4 and FY2025 results release, 26 February 2026, read 4 October 2026: revenue FY2025 and FY2024 - investors.rocketlabcorp.com; MarketScreener - Rocket Lab Corporation finances page, read 6 October 2026 |
| Rolls-Royce Holdings plcLondon Stock Exchange · GB · GBP | Dec | 1 Oct 2026 | as read | 2026E23,5902027E26,200 | consensus | 2026E5,3982027E5,982 | consensus† Less the 222 of development cost capitalised in FY2025 (Annual Report 2025, note 11: gross; 211 net of government funding). | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not keptSource: StockAnalysis.com - Rolls-Royce Holdings plc overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Rolls-Royce Holdings plc finances page, read 6 October 2026 |
| Rovsing A/SNasdaq Copenhagen · DK · DKK | Jun | 30 Sept 2026 | as read | 2026E30.62027E30.4 | 2026E: guidance, calendarised - 6/12 of FY to Jun 2026 (30.7, reported) and 6/12 of FY to Jun 2027 (30.5)2027E: Argonaut estimate, calendarised - 6/12 of FY to Jun 2027 (30.5) and 6/12 of FY to Jun 2028 (30.3, projected at −0.8% a year, its growth from the last reported year) | 2026E-2.82027E-2.0 | 2026E: guidance, calendarised - 6/12 of FY to Jun 2026 (-3.5, reported) and 6/12 of FY to Jun 2027 (-2.0)2027E: Argonaut estimate, calendarised - 6/12 of FY to Jun 2027 (-2.0) and 6/12 of FY to Jun 2028 (-2.0, its sales at -6.6%, the margin of FY to Jun 2027 (guidance)) | Source: StockAnalysis.com - Rovsing (CPH:ROV) market cap page, read again 8 October 2026: market cap DKK 36.96M as of 30 September 2026, enterprise value DKK 41.96M, price DKK 32.50 at close 30 September 2026 - stockanalysis.com; Rovsing - About us; Rovsing Annual Report 2025/26 (Nasdaq attachment): FY2026/27 guidance revenue DKK 27-34M and EBITDA DKK -4M to 0M, midpoints taken; Inderes - Rovsing A/S releases its Annual Report 2025/26: revenue, EBITDA - inderes.fi |
| RTX CorporationNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E96,1702027E103,260 | consensus | 2026E16,2102027E17,660 | consensus | a diversified group: figures of the whole, not of one segmentSource: StockAnalysis.com - RTX Corporation overview, statistics and forecast pages, read 2 October 2026; reported figures and segments: RTX Reports 2025 Results and Announces 2026 Outlook, 27 Jan 2026 (Form 8-K Exhibit 99, sec.gov); MarketScreener - RTX Corporation finances page, read 6 October 2026 |
| Saab ABNasdaq Stockholm · SE · SEK | Dec | 1 Oct 2026 | as read | 2026E97,8702027E118,810 | consensus | 2026E13,5442027E16,988 | consensus† Less the 731 of development cost capitalised in FY2025 (Annual and Sustainability Report 2025, note 15). | Source: StockAnalysis.com - Saab AB overview, statistics and forecast pages, read 2 October 2026; Saab Year-end report Q4 2025 (full report PDF, saab.com, 5 Feb 2026): multi-year overview, consolidated income statement, cash flow statement and business area tables, read 4 October 2026; MarketScreener - Saab AB finances page, read 6 October 2026 |
| Safran SAEuronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E36,5502027E40,300 | consensus | 2026E7,7112027E8,702 | consensus† Less the 349 of development cost capitalised in FY2025 (Document d'enregistrement universel 2025, note 6.1.1: includes 4 of capitalised interest). | Source: StockAnalysis.com - Safran SA overview, statistics and forecast pages, read 2 October 2026; Safran FY2025 results press release, Feb 2026 (safran-group.com/download/press_release/file/2265697): adjusted revenue, cash flow highlights (EBITDA), R&D table (gross capitalized R&D), segment breakdown, read 4 October 2026; MarketScreener - Safran SA finances page, read 6 October 2026 |
| Satrec InitiativeKOSDAQ · KR · KRW | Dec | 7 Oct 2026 | built, net debt unknown | 2026E247,5002027E296,067 | 2026E: consensus2027E: Argonaut estimate - projected at +19.6% a year, its growth from the last reported year | 2026E33,6802027E40,289 | 2026E: consensus2027E: Argonaut estimate - its sales at 13.6%, the margin of FY2026 (consensus) | Source: AlphaSquare - 쎄트렉아이 주가 page, read 8 October 2026: closing price KRW 77,000 on 7 October 2026, shares 10,951,278 - alphasquare.co.kr; WISEreport (FnGuide) - 쎄트렉아이 기업현황 (FY2026E EBITDA consensus); Chickstock - 쎄트렉아이 재무 분석; FnGuide - 쎄트렉아이(A099320) Financial Highlight (FY2026 sales consensus) |
| Science Applications International CorporationNasdaq · US · USD | Jan | 1 Oct 2026 | built | 2026E7,2972027E7,392 | 2026E: consensus, calendarised - 1/12 of FY to Jan 2026 (7,262, reported) and 11/12 of FY to Jan 2027 (7,300)2027E: consensus, calendarised - 1/12 of FY to Jan 2027 (7,300) and 11/12 of FY to Jan 2028 (7,400) | 2026E7382027E747 | 2026E: consensus, calendarised - 1/12 of FY to Jan 2026 (708, reported) and 11/12 of FY to Jan 2027 (741)2027E: consensus, calendarised - 1/12 of FY to Jan 2027 (741) and 11/12 of FY to Jan 2028 (747) | Source: StockAnalysis.com - Science Applications International Corporation overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Science Applications International Corporation finances page, read 6 October 2026 |
| SIA EngineeringSGX · SG · SGD | Mar | 30 Sept 2026 | as read | 2026E1,5402027E1,674 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (1,423, reported) and 9/12 of FY to Mar 2027 (1,579)2027E: consensus, calendarised - 3/12 of FY to Mar 2027 (1,579) and 9/12 of FY to Mar 2028 (1,705) | 2026E1072027E117 | 2026E: consensus, calendarised - 3/12 of FY to Mar 2026 (99.1, its sales at 7.0%, the margin of FY to Mar 2027 (consensus)) and 9/12 of FY to Mar 2027 (110)2027E: Argonaut estimate, calendarised - 3/12 of FY to Mar 2027 (110) and 9/12 of FY to Mar 2028 (119, its sales at 7.0%, the margin of FY to Mar 2027 (consensus)) | Source: Stockopedia - SIA Engineering (SGX:S59); SIA Engineering - Full Year Results for FY2025-26 (press release, 11 May 2026); stockanalysis.com - SIA Engineering Company (SGX:S59) Statistics (net cash at 31 Mar 2026); MarketScreener - SIA Engineering Company Limited (consensus) |
| Sidus SpaceNasdaq · US · USD | Dec | 2 Oct 2026 | as read | 2026E9.22027E11.5 | 2026E: consensus2027E: Argonaut estimate - projected at +25.0% a year, its growth from the last reported year held to the most a projection may take | 2026E–2027E– | not available | Source: stockanalysis.com - Sidus Space (SIDU) Statistics (close of Oct 2, 2026: 1.81; market cap 183.22M, EV 17.85M, net cash 165.37M); Fintel - SIDU revenue estimates (FY ending 2026-12-31: 9.18MM); Sidus Space FY2025 results release; TradingView |
| Space Exploration Technologies Corp.Nasdaq · US · USD | Dec | 1 Oct 2026 | as read | 2026E44,5402027E112,770 | consensus | 2026E21,7452027E65,853 | consensus | market cap and EV are printed to three significant figures; listed 12 June 2026, the 52-week range runs from listingSource: StockAnalysis.com - Space Exploration Technologies Corp. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Space Exploration Technologies Corp. finances page, read 6 October 2026 |
| StandardAero, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | built | 2026E6,4542027E7,063 | consensus | 2026E8962027E1,015 | consensus | the fiscal year is taken to end in December, as the page of its consensus prints itSource: StockAnalysis.com - StandardAero, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - StandardAero, Inc. finances page, read 6 October 2026 |
| Teledyne Technologies IncorporatedNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E6,5602027E6,920 | consensus | 2026E1,6432027E1,768 | consensus | Source: StockAnalysis.com - Teledyne Technologies Incorporated overview, statistics and forecast pages, read 2 October 2026; Teledyne Q4 and full-year 2025 earnings release, 21 January 2026 (SEC 8-K exhibit and Business Wire); Teledyne FY2025 Form ARS, Note 4 Business Segments; MarketScreener - Teledyne Technologies Incorporated finances page, read 6 October 2026 |
| Textron Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E15,5802027E16,210 | consensus | 2026E1,8222027E1,970 | consensus | Source: StockAnalysis.com - Textron Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Textron Inc. finances page, read 6 October 2026 |
| Thales S.A.Euronext Paris · FR · EUR | Dec | 1 Oct 2026 | as read | 2026E23,8302027E25,920 | consensus | 2026E3,8152027E4,274 | consensus† Less the 20.5 of development cost capitalised in FY2025 (Document d'enregistrement universel 2025, note 4.2). | Source: StockAnalysis.com - Thales S.A. overview, statistics and forecast pages, read 2 October 2026; reported figures: Thales 2025 full-year results press release, 3 Mar 2026 (thalesgroup.com); MarketScreener - Thales S.A. finances page, read 6 October 2026 |
| The Boeing CompanyNYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E98,0002027E112,800 | consensus | 2026E4,3282027E8,226 | consensus | Source: StockAnalysis.com - The Boeing Company overview, statistics and forecast pages, read 2 October 2026; MarketScreener - The Boeing Company finances page, read 6 October 2026 |
| Theon International PlcEuronext Amsterdam · NL · EUR | Dec | 1 Oct 2026 | as read | 2026E6002027E750 | 2026E: guidance2027E: Argonaut estimate - projected at +25.0% a year, its growth from the last reported year held to the most a projection may take | 2026E1622027E203 | Argonaut estimate - its sales at 27.1%, the margin of the last reported year (FY2025) | Source: StockAnalysis.com - Theon International (AMS:THEON) Statistics; Theon - FY 2025 Preliminary Results; Investegate - Theon International Plc, Publication of H1 2026 Report; stockanalysis.com (market cap and EV as of 1 Oct 2026); theon.com (FY2025/FY2024 figures, FY2026 guidance); net debt EUR 237.9m at 30 June 2026: THEON Publication of H1 2026 Report, 7 September 2026 via.ritzau.dk |
| THK Co., Ltd.Tokyo Stock Exchange · JP · JPY | Dec | 25 Sept 2026 | as read | 2026E260,0002027E260,000 | 2026E: guidance2027E: Argonaut estimate - the year before held, no growth being known | 2026E–2027E– | not available | Source: stockanalysis.com - THK (TYO:6481) Statistics; stockanalysis.com - THK Q4 2025 call summary (original FY2026 guidance) |
| TKMS AG & Co. KGaAXetra · DE · EUR | Sep | 1 Oct 2026 | as read | 2026E2,5332027E2,917 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (2,440) and 3/12 of FY to Sep 2027 (2,810)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (2,810) and 3/12 of FY to Sep 2028 (3,236, projected at +15.2% a year, the growth between its two forecast years) | 2026E2632027E314 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (250) and 3/12 of FY to Sep 2027 (303)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (303) and 3/12 of FY to Sep 2028 (348, its sales at 10.8%, the margin of FY to Sep 2027 (consensus)) | market cap and EV as printed on the morning of 2 October 2026, taken to be on the 1 October close; the share price of that morning is not kept; listed 20 October 2025: the 52-week range runs from listingSource: StockAnalysis.com - TKMS AG & Co. KGaA overview, statistics and forecast pages, read 2 October 2026; MarketScreener - TKMS AG & Co. KGaA finances page, read 6 October 2026 |
| TransDigm GroupNYSE · US · USD | Sep | 30 Sept 2026 | as read | 2026E10,3252027E11,162 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (10,120) and 3/12 of FY to Sep 2027 (10,940)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (10,940) and 3/12 of FY to Sep 2028 (11,826, projected at +8.1% a year, the growth between its two forecast years) | 2026E5,6322027E6,088 | 2026E: guidance, calendarised - 9/12 of FY to Sep 2026 (5,520) and 3/12 of FY to Sep 2027 (5,967, its sales at 54.5%, the margin of FY to Sep 2026 (guidance))2027E: Argonaut estimate, calendarised - 9/12 of FY to Sep 2027 (5,967) and 3/12 of FY to Sep 2028 (6,451), each its sales at 54.5%, the margin of FY to Sep 2026 (guidance) | Source: stockanalysis.com - TransDigm Group (TDG) Statistics (total debt 33,490 less cash 2,780); TransDigm Group Form 8-K Ex.99.1, Q4 FY2025 results (SEC); TransDigm FY2025 Q4 results release; DEF 14A (SEC); TransDigm Group - Form 8-K Ex.99.1, Q3 FY2026 results (SEC; FY2026 EBITDA As Defined guidance USD 5,490-5,550m, midpoint, newer than the Nov 2025 guidance of USD 5,075-5,225m); stockanalysis.com - TransDigm Group (TDG) Stock Forecast |
| TransDigm Group IncorporatedNYSE · US · USD | Sep | 1 Oct 2026 | as read | 2026E10,7782027E11,875 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (10,510) and 3/12 of FY to Sep 2027 (11,580)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (11,580) and 3/12 of FY to Sep 2028 (12,759, projected at +10.2% a year, the growth between its two forecast years) | 2026E5,6552027E6,235 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (5,513) and 3/12 of FY to Sep 2027 (6,080)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (6,080) and 3/12 of FY to Sep 2028 (6,699, its sales at 52.5%, the margin of FY to Sep 2027 (consensus)) | the dividend yield printed is a one-off special dividend and is not keptSource: StockAnalysis.com - TransDigm Group Incorporated overview, statistics and forecast pages, read 2 October 2026; MarketScreener - TransDigm Group Incorporated finances page, read 6 October 2026 |
| V2X, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | as read | 2026E4,9802027E5,240 | consensus | 2026E3592027E386 | consensus | Source: StockAnalysis.com - V2X, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - V2X, Inc. finances page, read 6 October 2026 |
| VIGO PhotonicsWarsaw Stock Exchange · PL · PLN | Dec | 4 Oct 2026 | as read | 2026E1322027E175 | consensus | 2026E25.82027E43.3 | consensus | Source: StockAnalysis.com - VIGO Photonics (WSE:VGO) Stock Price & Overview; VIGO Photonics - FY2025 revenue estimate; VIGO Photonics - Record H1 2026 results release; MarketScreener - VIGO Photonics Financial Data Forecasts; stockopedia.com; biznes.pap.pl; net debt re-read attempted 2026-10-07 (H1 2026 report on bankier.pl, vigophotonics.com): neither gave a net debt figure, so left null; the EV given by the source is kept |
| Voyager Technologies, Inc.NYSE · US · USD | Dec | 1 Oct 2026 | built | 2026E2932027E521 | consensus | 2026E-1712027E-75.8 | consensus | Source: StockAnalysis.com - Voyager Technologies, Inc. overview, statistics and forecast pages, read 2 October 2026; reported figures: Voyager Q4 and FY2025 results release, 9 Mar 2026 (investors.voyagertechnologies.com; SEC 8-K Ex.99), and Form 10-K FY2025 (sec.gov), read 4 October 2026; MarketScreener - Voyager Technologies, Inc. finances page, read 6 October 2026 |
| VSE CorporationNasdaq · US · USD | Dec | 29 Sept 2026 | as read | 2026E1,8102027E2,200 | consensus | 2026E3412027E414 | 2026E: guidance2027E: Argonaut estimate - its sales at 18.8%, the margin of FY2026 (guidance) | Source: stockanalysis.com - VSE Corporation (VSEC) Statistics; VSE Corporation Announces Fourth Quarter and Full Year 2025 Results (net debt at 31 Dec 2025, before the PAG acquisition); VSE Corp - Form 8-K Ex.99.1, Q2 2026 results (SEC; FY2026 guidance: revenue growth 61-64% and Adjusted EBITDA margin 18.7-19.0%, midpoints applied to FY2025 revenue); stockanalysis.com - VSE Corporation (VSEC) Stock Forecast |
| Woodward, Inc.Nasdaq · US · USD | Sep | 1 Oct 2026 | as read | 2026E4,4282027E4,826 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (4,330) and 3/12 of FY to Sep 2027 (4,720)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (4,720) and 3/12 of FY to Sep 2028 (5,145, projected at +9.0% a year, the growth between its two forecast years) | 2026E9412027E1,043 | 2026E: consensus, calendarised - 9/12 of FY to Sep 2026 (914) and 3/12 of FY to Sep 2027 (1,020)2027E: consensus, calendarised - 9/12 of FY to Sep 2027 (1,020) and 3/12 of FY to Sep 2028 (1,112, its sales at 21.6%, the margin of FY to Sep 2027 (consensus)) | Source: StockAnalysis.com - Woodward, Inc. overview, statistics and forecast pages, read 2 October 2026; MarketScreener - Woodward, Inc. finances page, read 6 October 2026 |
| Wuhan Guide InfraredShenzhen Stock Exchange · CN · CNY | Dec | 5 Oct 2026 | built, net debt unknown | 2026E–2027E– | not available | 2026E–2027E– | not available | Source: Alpha Spread; Investing.com; Quartr; PitchBook - Wuhan Guide Infrared profile |
| York Space SystemsNYSE · US · USD | Dec | 7 Oct 2026 | built | 2026E3932027E499 | consensus | 2026E-33.02027E30.9 | consensus | listed 29 January 2026: the 52-week range runs from listingSource: StockAnalysis.com - York Space Systems, Inc. (YSS) overview, close of 7 October 2026: share price 7.38, market cap 1.01B, shares 137.36M, stockanalysis.com; York Space Systems press release, Fourth Quarter and Full Year 2025 Results (2026): FY2025 and FY2024 revenue, Adjusted EBITDA, s21.q4cdn.com; StockAnalysis.com - York Space Systems statistics and forecast pages, read 2 October 2026: net cash, FY2026/FY2027 consensus revenue (kept as given); MarketScreener - York Space Systems, Inc. finances page, read 6 October 2026 |
Appendix B - the transactions in detail
| Announced | Transaction | Value, multiples and source | Editor’s note |
|---|---|---|---|
| 1 Oct 2026 | Malaysia Aviation Group / Sepang Aircraft EngineeringAirbus's maintenance unit in Malaysia: A320 maintenance, painting and component repair; price not disclosedSeller: AirbusAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: AviTrader, 1 October 2026 - avitrader.com | – |
| 29 Sept 2026 | Greenbriar Equity Group / Spectrum ControlRF and microwave components, EMI filters and signal-conversion modules for radar, communications and satellites; terms not disclosed, more than USD 1.8bn according to BloombergSeller: AEA InvestorsAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Private Equity Professional, October 2026 - peprofessional.com; Private Equity Wire relaying Bloomberg for the price | A sale from one private-equity owner to another. The parties did not disclose the price: more than USD 1.8bn is a Bloomberg report relayed by the trade press. About 1,100 staff at 13 sites; closing is expected in the first quarter of 2027. |
| 28 Sept 2026 | AAR Corp. / MRO HoldingsAirframe maintenance, repair and overhaul, about 10,000 staff and 115 maintenance lines; AAR buys 65% with options over the rest, USD 4.0bn being the implied value of the wholeSeller: Roberto Kriete and other owners; Bain Capital a minority shareholderAnnounced | Enterprise value USD 4,000m: the buyer's figure.The twelve months: current year to 2026-12-31, ending after the announcement - the target's expected calendar 2026 sales (about USD 1.0bn) and adjusted EBITDA (USD 285m) as stated by AAR - the year of the announcement, before synergiesMultiple as stated (current year): 10.7x CY2026E adjusted EBITDA including USD 75m of run-rate cost synergies and net of tax benefitsSource: AAR press release, 28 September 2026 - aarcorp.com | AAR buys 65% for about USD 1.8bn of equity value, with options over the rest; USD 4.0bn is the implied value of the whole. AAR's own 10.7x is a current year multiple, on expected 2026 adjusted EBITDA, and counts USD 75m of run-rate cost synergies and tax benefits; before them the same figures give 14.0x. About 90% of the revenue comes from US customers. Closing is expected in AAR's quarter ending February 2027. |
| 21 Sept 2026 | TransDigm Group (Extant Aerospace) / A portfolio of commercial rotorcraft, land systems and business jet productsProduct lines with a facility in California; the seller and the revenue were not disclosedAnnounced | Enterprise value USD 240m: the buyer's figure.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: TransDigm 8-K, 21 September 2026 - stocktitan.net | Product lines bought for Extant Aerospace, known here from TransDigm's 8-K filing: neither the seller nor the revenue is named. |
| 14 Sept 2026 | Ondas / GATE Technologies and Bron TechnologiesFuzes and electronic safe-and-arm devices (Israel), with a manufacturing affiliate in Poland; USD 105m in cash and USD 100m in shares up front, an earn-out of up to USD 185m to 2028 not countedAnnounced | Enterprise value USD 205m: the price of the equity, net debt unknown; the multiples are on price.The twelve months: current year to 2026-12-31, ending after the announcement - the revenue Ondas projects for the business in 2026 - the year of the announcement; no EBITDA figure publishedSource: Ondas press release, 14 September 2026 - ir.ondas.com | An earn-out of up to USD 185m to 2028 comes on top of the USD 205m paid up front: the price nearly doubles if it is earned in full. No EBITDA was published: the figure kept is the revenue Ondas projects for 2026. |
| 12 Sept 2026 | ITC Federal / Capgemini Government SolutionsCapgemini's US federal services unit; terms not disclosedSeller: CapgeminiCompleted 30 Sept 2026 | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Capgemini press release, 30 September 2026 - globenewswire.com | – |
| 8 Sept 2026 | GE Aerospace / Consolidated Precision ProductsCastings for aero engines, airframes and industrial gas turbines, about 6,600 staff; about USD 2.0bn of 2027 revenue expected, some 60% commercial aerospaceSeller: Warburg Pincus and Berkshire PartnersAnnounced | Enterprise value USD 11,750m: the buyer's figure.The twelve months: no trailing figure publishedThe forward figures (next year): 2027 revenue of about USD 2.0bn as GE expects it - the year after the announcement; no EBITDA published as a figure: the buyer's multiple on 2027E EBITDA before synergiesMultiple as stated (next year): about 18x 2027E EBITDA including expected net synergies; about 26x withoutSource: GE Aerospace press release, 8 September 2026 - geaerospace.com; GE Aerospace's presentation of the same day for the 2027 revenue - geaerospace.com | GE gives two next year multiples, on 2027 EBITDA: about 18x including expected net synergies and about 26x without. GE publishes no trailing figure of the target, only the revenue it expects in 2027; Financier Worldwide reports synergies of about USD 200m. Closing is expected in the second half of 2027. |
| 1 Sept 2026 | Bombardier / MHI Canada Aerospace (Mississauga assets)Wings and centre fuselages for the Challenger 3500 and Global jets, about 750 employees; terms confidentialSeller: Mitsubishi Heavy IndustriesAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Mitsubishi Heavy Industries press release, 2 September 2026 - mhi.com | An aircraft maker taking over the supplier's site that builds the wings and centre fuselages of its own jets; the terms are confidential. |
| 17 Aug 2026 | TTM Technologies / Epiq SolutionsSoftware-defined radios, RF products and radiation-tolerant space computing for signals intelligence and electronic warfare; about USD 160m of 2027 revenue expectedSeller: Veritas CapitalCompleted 30 Sept 2026 | Enterprise value USD 1,100m: the buyer's figure.The forward figures (next year): the 2027 revenue TTM Technologies expects of Epiq, about USD 160m, as its management gave it on the acquisition call of 17 August 2026 - the year after the announcement; EBITDA worked back from TTM's own multiple: USD 1,100m over 17.4 is USD 63.2m with synergies, and USD 54.2m without the USD 9m of run-rate synergies it counts - 34% of that revenue, against margins in the mid-30% range on the callMultiple as stated (next year): 17.4x CY2027E adjusted EBITDA after USD 9m of run-rate synergiesSource: TTM Technologies press release, 17 August 2026 - investors.ttm.com; its acquisition call of the same day, for the revenue and the margin, as Yahoo Finance relayed it - finance.yahoo.com | All cash, announced and completed in about six weeks. TTM Technologies gives one multiple, 17.4x, a next year multiple, on 2027 adjusted EBITDA, and it already counts USD 9m of run-rate synergies. With the synergies taken out, the price is a next year multiple of about 20.3x EBITDA, an estimate worked back from TTM's two figures. On its acquisition call TTM gave about USD 160m of revenue expected in 2027, with EBITDA margins in the mid-30% range, which agrees with that estimate: a next year multiple of 6.9x revenue. |
| 10 Aug 2026 | Archer Aviation / Wisk Aero, Insitu and SkyGridAutonomous air taxi developer, tactical uncrewed aircraft maker and airspace-management software; consideration not disclosedSeller: BoeingAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Boeing and Archer press release, 10 August 2026 - boeing.mediaroom.com,-Insitu-and-SkyGrid-Subsidiaries-Boeing-to-Invest-in-Archer-and-Collaborate | Boeing sells three subsidiaries to Archer, takes an equity stake in it and signs a collaboration agreement; no consideration was disclosed. Insitu has more than USD 200m of annual revenue, on current financials and estimates. Closing is expected by the end of 2026. |
| 28 Jul 2026 | TransDigm Group / Prince & IzantBrazing alloys, precious-metal components and clad metals for aero and rocket engines; most of the revenue is precious-metal alloys; USD 1.066bn in cash, no enterprise value statedSeller: Industrial Growth PartnersCompleted 28 Sept 2026 | Enterprise value USD 1,066m: the price of the equity, net debt unknown; the multiples are on price.The twelve months: current year to 2026-12-31, ending after the announcement - the target's expected calendar 2026 revenue (about USD 390m) as stated by TransDigm at completion - about USD 360m was reported at the announcement; no EBITDA figure publishedSource: TransDigm press release on completion, 28 September 2026 - stocktitan.net; Private Equity Professional, July 2026 | Announced at just under USD 1.1bn and completed two months later at USD 1.066bn in cash. The revenue expected for 2026 was about USD 360m at the announcement and about USD 390m at completion. No EBITDA was published: the seller says only that it more than doubled under its ownership. |
| 28 Jul 2026 | Leonardo DRS / RaftMission software: multi-domain data fusion and AI for national-security customersSeller: The founder and Washington Harbour PartnersAnnounced | Enterprise value USD 450m: the buyer's figure.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Leonardo DRS press release, 28 July 2026 - leonardodrs.com | All cash. DRS states a tax benefit worth about USD 50m in present value over 15 years, to set against the USD 450m; no revenue, EBITDA or multiple was disclosed. Closing is expected in the fourth quarter of 2026. |
| 8 Jul 2026 | MDA Space / Collecte Localisation Satellites (about 70%)Earth-observation analytics and satellite IoT services, about 1,200 staff; EUR 567m for about 70% and about EUR 198m of debt retired, no enterprise value stated by MDASeller: Shareholders of the target's parent; CNES keeps about 30%Announced | Enterprise value EUR 1,008m: Argonaut's estimate.The twelve months: current year to 2026-12-31, ending after the announcement - the target's expected 2026 revenue as stated by MDA - the year of the announcement; EUR 223m in 2025; EBITDA at 19%, the midpoint of the 18-20% adjusted EBITDA margin MDA gives for the target - an estimate, EUR 51.5m to 57.2m across that range; the enterprise value is an estimate too, which MDA does not state: EUR 567m for about 70% is EUR 810m for the whole, and EUR 1,008m with the EUR 198m of debt MDA would repay, the target's cash not being knownSource: MDA Space press release, 8 July 2026 - mda-en.investorroom.com,-a-Global-Leader-in-AI-Driven-Earth-Observation-Data-Analytics | A firm offer under the French process: EUR 567m in cash for about 70%, CNES keeping about 30%, and about EUR 198m of the target's debt to be retired. MDA states no enterprise value and no multiple, only that the adjusted EBITDA margin is in line with its own outlook of 18-20%. Scaled to the whole and with that debt, the price is about EUR 1.0bn: a current year multiple of 3.5x revenue and of about 18.6x EBITDA, both estimates. Closing is expected at the end of 2026 or early in 2027. |
| 6 Jul 2026 | Thales / Exail TechnologiesNavigation systems and maritime robotics; EUR 134.00 per share, a 44% premium to the undisturbed priceSeller: The Gorgé family (a 35.51% block), then a tender offer for all the sharesAnnounced | Enterprise value EUR 3,900m: the buyer's figure.The twelve months: LTM to 2026-06-30 - the twelve months to 30 June 2026, from Exail's own reports: fiscal 2025 revenue of EUR 479m and current EBITDA of EUR 103m, plus the first half of 2026, EUR 275m and EUR 63m, less the first half of 2025, EUR 220.3m and EUR 44m; the first-half 2026 EBITDA is the figure Exail gave on 14 September 2026, ahead of its half-year reportThe forward figures (next year): analysts' consensus for 2027 as MarketScreener printed it on 7 October 2026, revenue of EUR 731.5m and EBITDA of EUR 182.2m - the year after the announcement; neither Thales nor Exail gives a figure for that yearMultiple as stated (next year): about 24x EV / 2027E EBIT after cost synergies, about 20x after cost and revenue synergies - EBIT, not EBITDASource: Thales press release, 6 July 2026 (copy on MarketScreener) - marketscreener.com; Exail Technologies' 2025 annual results, 18 March 2026 - webdisclosure.com; its first-half 2025 results - webdisclosure.com; its second-quarter 2026 revenue - exail-technologies.com; its announcement of 14 September 2026 for the first-half 2026 EBITDA, as TipRanks relayed it - tipranks.com; MarketScreener's consensus for Exail, read 7 October 2026 - marketscreener.com | Safran announced exclusive talks at EUR 128.50 per share on 26 June 2026 and ended them on 3 July; Thales signed at EUR 134.00 three days later. Thales states its multiples on EBIT after synergies only, and as next year multiples, on 2027. On Exail's own figures for the twelve months to June 2026, current EBITDA of EUR 122m, the price is an LTM multiple of about 32x EBITDA; on fiscal 2025 alone, EUR 103m, it was an LTM multiple of about 38x. On the analysts' consensus for 2027, EBITDA of EUR 182m, it is a next year multiple of about 21x. The block is expected to close in the third quarter of 2027 and the tender offer by early 2028. |
| 6 Jul 2026 | Fincantieri / Next Geosolutions (52.6%), WSense, Graal Tech and DefcommFour underwater-technology companies bought as majority stakes for an initial outlay of EUR 600m; no value per companySeller: Marnavi, for the Next Geosolutions stakeAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Naval Today, 6 July 2026 - navaltoday.com; Il Sole 24 Ore, 6 July 2026 - en.ilsole24ore.com; Next Geosolutions' 2025 results, 26 March 2026 - emarketstorage.it | Four majority stakes at once to build an underwater business. The Next Geosolutions stake is bought from Marnavi at EUR 16.25 per share, valuing its equity at roughly EUR 780m according to Il Sole 24 Ore, with a tender offer to follow. Next Geosolutions, which is listed, reported a value of production of EUR 267.3m, EBITDA of EUR 69.8m and net cash of EUR 25.6m for 2025. Fincantieri guides pro-forma underwater revenue above EUR 1.1bn and EBITDA of about EUR 220m in 2026. |
| 6 Jul 2026 | Lockheed Martin / Ultra MaritimeUndersea and anti-submarine warfare systems: sonar, sonobuoys, torpedo defenceSeller: Advent International (Cobham Ultra)Announced | Enterprise value USD 3,450m: the buyer's figure.The twelve months: current year to 2026-12-31, ending after the announcement - the 2026 revenue Ultra Maritime expects, about USD 784m, as the Financial Times reported it and Private Equity Wire relayed it on 3 July 2026 - the year of the announcement; not stated by Lockheed Martin; USD 494m in 2023Source: Lockheed Martin press release, 6 July 2026 - investors.lockheedmartin.com; the Financial Times for the revenue, relayed by Private Equity Wire, 3 July 2026 - privateequitywire.co.uk | USD 3.45bn, with no revenue, EBITDA or multiple in Lockheed Martin's release; the business joins its Rotary and Mission Systems. The Financial Times reported revenue of about USD 784m expected in 2026, up from USD 494m in 2023: on that figure the price is a current year multiple of 4.4x revenue. Announced on 6 July 2026, the day of Thales's offer for Exail and of Fincantieri's four underwater acquisitions. |
| 29 Jun 2026 | Rocket Lab / Iridium CommunicationsListed satellite-communications network operator; USD 54.00 per share, half in cash and half in Rocket Lab sharesSeller: Public shareholdersAnnounced | Enterprise value USD 8,000m: the buyer's figure.The twelve months: LTM to 2025-12-31 - Iridium's fiscal 2025 revenue and operational EBITDA as in Rocket Lab's release - the last full year, not the twelve months to June 2026The forward figures (current year): analysts' consensus for 2026 - the year of the announcement, made in June. EBITDA of USD 495.8m as MarketScreener printed it on 7 October 2026; Iridium's own outlook for 2026, repeated on 23 April, is operational EBITDA of USD 480m to 490m. Revenue between USD 883m and USD 938.6m: two readings of the consensus on 7 October 2026, on VCP Scanner and on MarketScreener, that differ by 6% - shown as a range, their midpoint, USD 910.8m, standing where one figure is neededSource: Rocket Lab press release and investor update, 29 June 2026 - investors.rocketlabcorp.com; MarketScreener's consensus for Iridium, read 7 October 2026 - marketscreener.com; Iridium's first-quarter 2026 results, 23 April 2026, for its outlook - investor.iridium.com; VCP Scanner's consensus for Iridium, read 7 October 2026 - vcpscanner.com | Of the USD 54.00 a share, USD 27.00 is in cash and the rest in Rocket Lab shares, with a collar. Neither party states a multiple; the one computed here is an LTM multiple, on Iridium's 2025 operational EBITDA, the last full year, a margin of 57%. On the analysts' consensus for 2026, EBITDA of about USD 496m, it is a current year multiple of 16.1x; Iridium's own outlook for the year is USD 480m to 490m. Two readings of the consensus for 2026 revenue differ, USD 883m and USD 939m: a current year multiple of 8.5x to 9.1x. Closing is expected in mid-2027. |
| 25 Jun 2026 | Airbus and Safran / Aubert & Duval (the stake of Tikehau Capital)French metallurgy group, from materials to forged parts; revenue of about EUR 960m, the year not stated; price not disclosedSeller: Tikehau CapitalAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Airbus press release, 25 June 2026 - airbus.com | Airbus and Safran buy out Tikehau Capital's stake in equal shares; the price is not disclosed. |
| 22 Jun 2026 | Booz Allen Hamilton / Ultra I&C Mission SolutionsMission software, edge computing and encryption-management products for US and allied forces, about 220 staffSeller: Cobham Ultra, an Advent companyCompleted | Enterprise value USD 720m: the buyer's figure.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Booz Allen press release, 22 June 2026 - newsroom.boozallen.com; WashingtonExec, 25 August 2026, for the completion | Sold by Cobham Ultra, an Advent company; two weeks later Advent agreed to sell Ultra Maritime to Lockheed Martin. Booz Allen gives only qualitative guidance: strong double-digit revenue growth and EBITDA margins well above 20%. |
| 19 Jun 2026 | MDA Space / Blue Canyon TechnologiesSmall-satellite buses and spacecraft components, more than 400 staff; about USD 160m of 2026 revenue expected, some 75% of it from defenceSeller: RTXAnnounced | Enterprise value USD 620m: the buyer's figure.The forward figures (current year): the 2026 revenue Blue Canyon expects, about USD 160m, as MDA's chief financial officer gave it on the acquisition call of 19 June 2026 - the year of the announcement; EBITDA at 19%, the midpoint of the 18-20% adjusted EBITDA margin he said Blue Canyon's is aligned with: an estimate, USD 28.8m to 32.0m across that rangeMultiple as stated (the 3.9x current year, the 20x on a year not given): 20x expected EBITDA and 3.9x forecast 2026 revenue according to Space Intel Report - not stated by MDASource: MDA Space press release, 19 June 2026, for the price - sec.gov; MDA Space acquisition call, 19 June 2026, for the revenue and the margin - financialfilings.com; Space Intel Report for the multiples as stated - spaceintelreport.com | RTX sells its small-satellite business, all in cash; closing is expected by the end of 2026. MDA's release gives no revenue, EBITDA or multiple. On its acquisition call MDA gave about USD 160m of 2026 revenue and adjusted EBITDA margins aligned with its own outlook of 18-20%, before any synergy: on those figures the price is a current year multiple of 3.9x revenue and about 20x EBITDA, between 19.4x and 21.5x across the margin range. Space Intel Report, which does not say where it has them from, gives a current year multiple of 3.9x, on forecast 2026 revenue, and 20x on expected EBITDA, the year not given. |
| 5 Jun 2026 | Arcline Investment Management / Continental Aerospace TechnologiesPiston aircraft engines and aftermarket parts for general aviation, in the United States and Germany; USD 535.4m for the whole operating businessSeller: Continental Aerospace Technologies Holding, listed in Hong Kong and controlled by AVICAnnounced | Enterprise value USD 535m: the buyer's figure.The twelve months: LTM to 2025-12-31 - the seller's revenue for the year ended 31 December 2025, HKD 1,999.3m - piston engines for general aviation, its only business - converted at HKD 7.8343 to the US dollar, the rate of 5 June 2026; no EBITDA publishedSource: Arcline press release, 8 June 2026, relayed by Aeromorning - aeromorning.com; the seller's announcement as summarised by FilingReader, 5 June 2026 - filingreader.com; its annual results for 2025, 27 March 2026 - www1.hkexnews.hk | The Hong Kong-listed holding company sells its whole operating business - the engine makers in the United States and Germany - for USD 535.4m, will pay the proceeds out to its shareholders, delist and wind up. Its revenue was HKD 2.0bn in 2025, about USD 255m: an LTM multiple of 2.1x revenue. The price is the one the parties state; whether it is free of cash and debt is not said. |
| 2 Jun 2026 | Arxis / Omnetics Connector Corporation and MagCanicaHigh-reliability micro and nano connectors, and non-contact torque sensors; MagCanica closed on 1 June 2026, Omnetics pendingSeller: Private shareholders and foundersAnnounced | Enterprise value USD 890m: the buyer's figure.The forward figures (next year): no EBITDA published as a figure: the buyer's multiple on fiscal 2027 estimated adjusted EBITDA for the two companies together - the year after the announcement, Arxis's fiscal year being the calendar yearMultiple as stated (next fiscal year): 12x FY2027E adjusted EBITDA for the two togetherSource: Arxis press release, 2 June 2026 - arcline.com; Arxis's quarterly report to 30 June 2026 for its fiscal year - sec.gov | Arxis is backed by Arcline. About USD 890m is the price of the two companies together and is not split; the 12x is a multiple on the next fiscal year, 2027 estimated adjusted EBITDA for both, and Arxis, whose fiscal year is the calendar year, does not say whether synergies are counted in it. MagCanica closed on 1 June 2026; Omnetics was expected to close in the third quarter. |
| 1 Jun 2026 | Motorola Solutions / D-Fend SolutionsCounter-drone systems that take control of hostile drones by radio (Israel); USD 1.5bn in cash, about USD 185m of 2026 revenue expectedSeller: Its founders and investors, Vertex Israel, Claridge and Israel Growth Partners among themAnnounced | Enterprise value USD 1,500m: the buyer's figure.The forward figures (current year): the 2026 revenue Motorola Solutions expects of D-Fend, about USD 185m, as its announcement gave it - the year of the announcement; no EBITDA publishedSource: Motorola Solutions' announcement of 1 June 2026, as Globes quotes it - en.globes.co.il; Quartz, 1 June 2026 - finance.yahoo.com | USD 1.5bn in cash for a company whose revenue Motorola Solutions expects at about USD 185m in 2026, after growth of more than 50% a year: a current year multiple of 8.1x revenue. No EBITDA was given; Globes describes the company as profitable. Closing is expected in the fourth quarter of 2026. |
| 21 May 2026 | Parker-Hannifin / CIRCOR AerospaceCIRCOR's commercial and defence aerospace business: flight-critical motion and flow-control products; about USD 270m of calendar 2026 sales expected, adjusted EBITDA margin above 40%Seller: CIRCOR InternationalAnnounced | Enterprise value USD 2,550m: the buyer's figure.The twelve months: no trailing figure publishedThe forward figures (current year): calendar 2026 sales of about USD 270m as Parker expects them - the year of the announcement, made in May; no EBITDA published as a figure: the buyer's multiple on calendar 2026E adjusted EBITDA before synergiesMultiple as stated (current year): 22.7x CY2026E adjusted EBITDA before synergies; 18.2x including expected cost synergiesSource: Parker-Hannifin press release, 21 May 2026 - investors.parker.com | A carve-out from CIRCOR International, priced cash-free and debt-free. Parker states two current year multiples, on 2026 adjusted EBITDA: 22.7x before synergies and 18.2x with cost synergies of about 10% of sales. About 80% of the business is original equipment, split evenly between commercial and defence. |
| 5 May 2026 | PAI Partners and Fondo Italiano d'Investimento / Mecaer Aviation GroupFlight controls, actuation and landing gear for helicopters and business jets, cabin interiors and maintenance; EUR 242m of revenue in 2025, value not disclosedSeller: An earlier Fondo Italiano fund and Stellex Capital Management; the founding families reinvestAnnounced | No public value.The twelve months: LTM to 2025-12-31 - Mecaer's 2025 revenue as the buyers' release states it; no EBITDA publishedSets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: PAI Partners and Fondo Italiano d'Investimento press release, 5 May 2026 - paipartners.com; Milano Finanza, 5 May 2026 - milanofinanza.it | A European private-equity deal in which Fondo Italiano is on both sides: an earlier fund of its own sells, with Stellex, and it buys again, with PAI. The parties disclosed no value; Milano Finanza relays press rumours of about EUR 350m, without saying whether that is the enterprise value, so no value is kept here. |
| 7 Apr 2026 | Tinicum and Blackstone / Senior plcFluid-conveyance and thermal-management systems for aerospace and industry; 297.85p in cash and a 2.15p dividend per shareSeller: Public shareholders (recommended cash offer)Announced | Enterprise value GBP 1,399m: the buyer's figure.The twelve months: LTM to 2025-12-31 - Senior's fiscal year ended 31 December 2025, revenue as reported; the adjusted EBITDA the offer's 15.2x is on is printed neither in the offer announcement nor in Senior's results, which give an adjusted operating profit of GBP 63.6mEV / EBITDA LTM is the buyer’s own multiple, quoted: no EBITDA is published.The forward figures (current year): analysts' consensus for 2026 as MarketScreener printed it on 7 October 2026, revenue of GBP 761.5m and EBITDA of GBP 95.0m - the year of the announcement, made in AprilMultiple as stated (LTM): 15.2x FY2025 adjusted EBITDA, stated in the offer announcementSource: Rule 2.7 firm offer announcement, 7 April 2026 - tinicum.com; MarketScreener's consensus for Senior, read 7 October 2026 - ca.marketscreener.com | A recommended cash offer for a UK-listed group by a private-equity consortium: 300p a share with the final dividend, an equity value of about GBP 1,275m fully diluted. The 15.2x is an LTM multiple, on 2025 adjusted EBITDA, stated in the offer announcement; the EBITDA itself was not in the source read. On the analysts' consensus for 2026, EBITDA of about GBP 95m, the price is a current year multiple of 14.7x. |
| 3 Mar 2026 | Kraken Robotics / Covelya GroupUnderwater navigation, positioning, communication and imaging for uncrewed maritime systems, about 750 staff; total consideration of CAD 480m in cash and CAD 135m in shares, no enterprise value statedSeller: Sonardyne Holdings LimitedAnnounced | Enterprise value CAD 615m: the price of the equity, net debt unknown; the multiples are on price.The twelve months: LTM to 2025-12-31 - the 2025 expected ranges stated by Kraken at their midpoints (sales CAD 249-275m, adjusted EBITDA CAD 60-67m)Source: Kraken Robotics press release, 3 March 2026 - krakenrobotics.com | CAD 135m of the CAD 615m is paid in Kraken shares. Kraken states neither an enterprise value nor a multiple: the EBITDA multiple computed here is an LTM multiple, the total consideration over the midpoint of a range expected for 2025, the year just ended at the announcement, so it is approximate, between about 9x and 10x. |
| 2 Mar 2026 | J.F. Lehman & Company / Forged Solutions GroupForgings for rotating aero-engine parts, seven sites in the United Kingdom and the United States, about 840 staff; terms not disclosedCompleted 2 Mar 2026 | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: J.F. Lehman press release, 2 March 2026 - prnewswire.com | Announced at completion; the terms and the seller are not in the release. |
| 13 Feb 2026 | Safran / SyntonyResilient positioning and navigation: GNSS receivers, anti-jam antennas and software-defined radio, nearly 70 staff; price not disclosedAnnounced | No public value.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: Safran press release, 13 February 2026 - safran-group.com | A small technology acquisition by Safran Electronics & Defense in resilient positioning and navigation, with GNSS receivers for low Earth orbit satellites. No price or revenue figure was disclosed; Safran gave its 2025 revenue only as below EUR 10m. No document found states its completion. |
| 2 Feb 2026 | Donaldson Company / Facet FiltrationFuel and fluid filtration for aviation, defence and power generation; about 70% replacement partsSeller: Filtration GroupAnnounced | Enterprise value USD 820m: the buyer's figure.The twelve months: LTM to 2025-12-31 - calendar 2025 revenue as stated by Donaldson; no EBITDA figure publishedEV / EBITDA LTM is the buyer’s own multiple, quoted: no EBITDA is published.Multiple as stated (LTM): about 20.0x CY2025 EBITDA; 16.6x after the present value of tax benefits and cost synergiesSource: Donaldson press release, 2 February 2026 - s204.q4cdn.com | Donaldson states two LTM multiples, on 2025 EBITDA: about 20.0x, and 16.6x once the present value of tax benefits and cost synergies is counted. The EBITDA itself is not published: the LTM EBITDA multiple shown is Donaldson's own, quoted, and only the LTM sales multiple is computed here. |
| 29 Jan 2026 | VSE Corporation / Precision Aviation GroupComponent repair, distribution and supply-chain services for commercial, business and general aviation, rotorcraft and defence; USD 1.75bn cash and about USD 275m of shares, an earn-out of up to USD 125m not countedSeller: GenNx360 Capital PartnersCompleted 5 May 2026 | Enterprise value USD 2,025m: the buyer's figure.The twelve months: LTM to 2025-12-31 - the target's expected fiscal 2025 adjusted revenue (about USD 615m) as stated by VSE - the year just ended at the announcement; EBITDA worked back from VSE's own multiple: USD 2,025m over 13.5 is USD 150m with synergies, and USD 135m without the USD 15m a year of synergies VSE counts at the least - 22% of that revenue; VSE says more than USD 15m, so the EBITDA is at most that and the multiple at least 15.0xMultiple as stated (LTM): 13.5x 2025E adjusted EBITDA including full run-rate synergiesSource: VSE press release, 29 January 2026 - ir.vsecorp.com | USD 1.75bn in cash and about USD 275m in VSE shares, with an earn-out of up to USD 125m tied to 2026 adjusted EBITDA on top. VSE's 13.5x is an LTM multiple, on expected 2025 adjusted EBITDA, the year just ended at the announcement, and counts full run-rate synergies. With the synergies taken out at the USD 15m a year VSE gives as their floor, the price is an LTM multiple of at least 15.0x EBITDA, an estimate worked back from VSE's two figures. |
| 16 Jan 2026 | TransDigm Group / Jet Parts Engineering and Victor Sierra AviationProprietary aftermarket parts and repairs for commercial, business and general aviation; completion from a press headline onlySeller: Vance Street CapitalCompleted | Enterprise value USD 2,200m: the buyer's figure.The twelve months: LTM to 2025-12-31 - the two companies' combined revenue for calendar 2025, about USD 280m, as stated by TransDigm; no EBITDA publishedSource: TransDigm press release, 16 January 2026 - transdigmgroupinc.gcs-web.com; Vance Street Capital press release, 16 January 2026 - prnewswire.com | About USD 2.2bn in cash, tax benefits included, for two makers of alternative aftermarket parts that together had about USD 280m of revenue in 2025, nearly all of it from the commercial aftermarket: an LTM multiple of 7.9x revenue. TransDigm gives no EBITDA and no multiple. |
| 5 Jan 2026 | AE Industrial Partners / L3Harris space propulsion and power systems (about 60%)Space propulsion and space power systems, the RS-25 engine business excluded; USD 845m is the value of the whole businessSeller: L3Harris, which keeps about 40%Completed | Enterprise value USD 845m: as reported.Sets no multiple: a price without a public figure of the target, a figure without a price, or the parties alone.Source: L3Harris press release, 5 January 2026 - l3harris.com; Defense One, 17 August 2026, for the completion | – |
| 30 Jun 2025 | TransDigm / Simmonds Precision Products (RTX)Completed | Enterprise value USD 765m: the buyer's figure.The forward figures (current year): The 2025 revenue expected for the business as TransDigm gave it at the announcementSource: TransDigm Group Form 8-K Ex.99.1, 30 June 2025: price, expected 2025 revenue; TransDigm press release (PR Newswire / TransDigm IR); GovConWire | – |
| 9 Jun 2025 | Crane Company / Precision Sensors and Instrumentation (Baker Hughes)Completed 1 Jan 2026 | Enterprise value USD 1,060m: the buyer's figure.The twelve months: No trailing or last-year figures were found. The date is the closing on 1 Jan 2026, since the facts do not give the announcement date. The price of 1,060 is after tax benefits worth about 90.The forward figures (current year): Expected 2025 figures of about 390 sales and about 60 adjusted EBITDA, the nearest stated forward yearSource: Crane Company investor release; Panametrics transition page; TipRanks | Crane Company announced the purchase on 9 June 2025 and completed it on 1 January 2026. Baker Hughes gave the cash price as USD 1,150m; Crane gives USD 1,060m, after about USD 90m of tax benefits it expects, and that is the value kept here. Crane expected about USD 390m of sales and about USD 60m of adjusted EBITDA from the business in 2025, the year of the announcement: on the value kept, a current year multiple of about 2.7x sales and 17.7x EBITDA, and on the cash price a current year multiple of about 2.9x sales and 19.2x EBITDA. The business is Druck, pressure sensors for aircraft and test equipment, with Panametrics, flow meters and moisture analysers for process industries, and Reuter-Stokes, radiation sensing for nuclear plants. |
| 20 May 2025 | RBC Bearings / VACCO Industries (ESCO Technologies)Completed 21 Jul 2025 | Enterprise value USD 275m: the buyer's figure.The twelve months: LTM to 2025-03-31 - Twelve months to 31 Mar 2025 as stated: revenue about 118. EBITDA was not disclosed. Agreed at 310 in cash, completed on 18 Jul 2025 at about 275 after working-capital adjustments.Source: RBC Bearings press release (Business Wire); RBC Bearings Form 10-Q (SEC); ESCO Technologies press release, 20 May 2025; ESCO completion release via Investing.com | ESCO Technologies agreed the sale on 20 May 2025 at USD 310m. At completion, on 21 July 2025, RBC Bearings gave the price as USD 275m in cash, subject to adjustments after closing, and ESCO gave net proceeds of about USD 275m after working capital adjustments: that is the value kept here. VACCO had about USD 118m of sales in the twelve months to 31 March 2025, so the price announced was an LTM multiple of about 2.6x sales and the price paid one of about 2.3x. |
| 19 May 2025 | TransDigm Group / ServotronicsCompleted | Enterprise value USD 133m: the buyer's figure.The twelve months: LTM to 2024-12-31 - Last reported year (FY2024 to 31 Dec 2024): sales 44.9, as reported by Servotronics. No LTM or half-year figures were found, and EBITDA was not found. EV is TransDigm's total purchase price of about 133 in cash at the raised USD 47.00 per share, closed 1 Jul 2025.The forward figures (NTM): No consensus or guidance found for the twelve months after the announcementSource: TransDigm Group Form 10-Q, quarter ended 28 Jun 2025 (SEC); TransDigm/Servotronics joint announcement via StreetInsider; Servotronics FY2024 results press release (PR Newswire) | – |
| 3 Feb 2025 | Warburg Pincus and Berkshire Partners / Triumph GroupCompleted 24 Jul 2025 | Enterprise value USD 3,000m: the buyer's figure.The twelve months: current year to 2025-03-31, ending after the announcement - Last reported year: fiscal 2025, year to 31 Mar 2025, reported after the announcement. Net sales 1,260 and adjusted EBITDAP 204.5. Status kept pending because no source read confirms completion.Source: Warburg Pincus press release, 3 Feb 2025; Triumph Group Form 8-K Ex.99.1 Q4 FY2025 (SEC) | – |
| 14 Jan 2025 | Bain Capital (K.K. BCJ-92) / JAMCO CorporationCompleted | Enterprise value JPY 96,051m: price per share x shares.The twelve months: LTM to 2024-03-31, 10 months before the announcement - Last reported year (FY ended 31 Mar 2024), since half-year figures were not found. JAMCO reports no EBITDA, so it is estimated from its own figures: operating income 2,383 plus cash-flow depreciation 1,778. Net debt at 31 Mar 2024 is built from balance-sheet items: short-term loans 52,700 plus current long-term loans 660 plus long-term loans 590 plus leases 530, less cash 6,770. Diluted shares are the 26,856,030 shares outstanding excluding treasury.The forward figures (NTM): No guidance or consensus covers the twelve months after the announcement. The May 2024 guidance covers only FY Mar-2025 (sales 86,900).Source: Bain Capital Japan press release, 14 Jan 2025; JAMCO release on the BCJ-92 tender offer; JAMCO Consolidated Financial Results FY2023 (ended 31 Mar 2024) and FY2024 (ended 31 Mar 2025) | – |
| 20 Dec 2024 | Woodward / Safran Electronics and Defense Canada, Inc. and certain US and Mexico electromechanical actuation assets (Safran)Completed 21 Jul 2025 | Enterprise value USD 40.3m: the price of the equity, net debt unknown; the multiples are on price.The twelve months: current year to 2024-12-31, ending after the announcement - Last reported year (2024): sales of about 65, as stated by Safran. EBITDA was not disclosed. The price is 40.286 for 100% of the business, net of cash acquired; completed 21 Jul 2025.Source: Woodward, Inc. Form 10-Q (SEC EDGAR); Safran press release via Vertical Mag | Woodward announced the purchase on 20 December 2024, giving no price in its release and calling it not financially material, and completed it on 21 July 2025. |
| 4 Nov 2024 | Teledyne Technologies / Micropac IndustriesCompleted | Enterprise value USD 57.3m: the buyer's figure.The twelve months: LTM to 2024-08-24 - Twelve months to 24 August 2024 from Micropac's Form 10-Q for the quarter to 24 August 2024 and its Form 10-K FY2023Source: Micropac 8-K exhibit 99.1 (SEC), 4 November 2024 - Teledyne to Acquire Micropac: price per share; Micropac Form 10-Q, quarter to 24 August 2024 (SEC): sales, shares, net cash and debt; Micropac Form 10-K FY2023 (SEC): sales; Teledyne - Teledyne Completes Acquisition of Micropac | – |
| Aug 2024 | Loar Holdings / Applied AvionicsCompleted | Enterprise value USD 384m: the buyer's figure.The forward figures (NTM): Applied Avionics' expected revenue and EBITDA for the year after the purchase as Loar's filings and Seeking Alpha relayed themSource: Loar Holdings Form 10-K FY2024 (SEC): price, the target's revenue and EBITDA; Seeking Alpha: the deal | – |
| 19 Jan 2024 | Arcline Investment Management / Kaman CorporationCompleted | Enterprise value USD 1,800m: the buyer's figure.The twelve months: LTM to 2023-12-31 - FY2023 as reported: net sales 775.9 and adjusted EBITDA 106.7, the full year just before the January 2024 announcement. Completed on 19 Apr 2024.The forward figures (NTM): No guidance or consensus was found for the twelve months after the announcementSource: Kaman Corporation Form 8-K Ex.99.1 (SEC; agreement 19 Jan 2024, completion 19 Apr 2024); Kaman Form 8-K earnings releases (SEC), FY2022 and FY2023 results | – |
| 3 Jan 2024 | Crane Company / Vian EnterprisesCompleted | Enterprise value USD 103m: the buyer's figure.The twelve months: LTM to 2023-08-31 - Trailing twelve months to Aug 2023 as stated by Crane: sales about 33 and adjusted EBITDA about 8. EV is about 103 on a cash-free, debt-free basis.Source: Crane Company press release, Form 8-K Ex.99.1 (SEC) | – |
| 21 Dec 2023 | AAR Corp / Triumph Group Product Support businessCompleted | Enterprise value USD 725m: the buyer's figure.The twelve months: No actual trailing or last-year figures were published for the carve-out. EV is AAR's USD 725m cash-free, debt-free price (USD 645m net of about USD 80m tax benefits). Completed on 1 Mar 2024.The forward figures (NTM): AAR's estimate at signing for the fiscal year ending 31 Mar 2024: revenue about 280 and EBITDA about 55 (20% margin). This is the nearest stated forward year and overlaps the months before the deal.Multiple as stated: 11.7x estimated FY Mar-2024 EBITDA on the USD 645m net price after tax benefits, before synergies; 9.9x including about USD 10m run-rate cost synergiesSource: AAR Corp Form 8-K Ex.99.1 (SEC); AAR press release, 21 Dec 2023; AAR presentation 'AAR to acquire Triumph Group's Product Support business', 21 Dec 2023; AAR press release on completion, 1 Mar 2024 | – |
| 5 Dec 2023 | HENSOLDT AG / ESG Elektroniksystem- und Logistik-GmbHCompleted | Enterprise value EUR 675m: the buyer's figure.The twelve months: current year to 2023-12-31, ending after the announcement - buyer's expected FY2023 revenue of EUR 330m (IFRS) with the stated ~14% EBITDA margin applied to itThe forward figures (next year): no 2024 revenue or EBITDA figure published, only the stated forward multipleMultiple as stated (next year): ~10x EV/EBITDA 2024E including earn-out after run-rate cost synergies, ~14x excluding synergiesSource: HENSOLDT press release 5 December 2023 | HENSOLDT gives two next year multiples, on 2024 EBITDA for a deal announced in December 2023: about 14x before synergies, and about 10x once run-rate cost synergies are counted, the earn-out included in the price. |
| 21 Jul 2023 | Safran / Collins Aerospace flight control and actuation business (RTX)Completed 21 Jul 2025 | Enterprise value USD 1,800m: the buyer's figure.The twelve months: current year to 2024-12-31, ending after the announcement - Last reported year (2024), as stated by Safran. No figures for the twelve months before the July 2023 announcement were found. Completed in July 2025.Source: Safran press release - acquisition of flight control and actuation activities from Collins Aerospace; Janes | – |
| 15 May 2023 | HEICO Corporation / Wencor GroupCompleted | Enterprise value USD 2,050m: the buyer's figure.The twelve months: No reported revenue or EBITDA for the twelve months before May 2023, calendar 2022 or any half-year was published. The price of 2,050 (USD 1,900m cash plus USD 150m in HEICO Class A shares) is HEICO's aggregate purchase price; the cash part was subject to working capital and debt adjustments, and HEICO's own 12.9x multiple is computed on it. Completed on 4 Aug 2023 at the same price.The forward figures (NTM): HEICO's projection at signing for calendar 2023, the year of the announcement: adjusted pro forma revenue about 724 and adjusted pro forma EBITDA about 153, including an acquisition Wencor completed in Feb 2023 and diligence adjustments. HEICO later said Wencor was beating these figures but gave no update.Multiple as stated (current year): about 12.9x projected CY2023 pro forma adjusted EBITDA, net of about USD 75m of expected tax benefits through fiscal 2038, before synergiesSource: HEICO Corporation Form 8-K Ex.99.1 (SEC), 15 May 2023; HEICO Corporation Form 10-Q, quarter ended 31 Jul 2023 (SEC); HEICO press release - HEICO Corporation Completes Wencor Group Acquisition, 4 Aug 2023 | – |
| 3 Oct 2022 | Redwire Corporation / QinetiQ Space NVCompleted | Enterprise value EUR 32.0m: the buyer's figure.The twelve months: LTM to 2022-03-31 - target's last reported fiscal year, ended 31 March 2022, as disclosed by seller QinetiQSource: Redwire press release ir.rdw.com / 8-K exhibit 99.1 (SEC); QinetiQ Group plc announcement; Redwire Form 424B3 | Sold by QinetiQ Group. The EUR 32m is Redwire's own figure, and the target's figures are those of its year to 31 March 2022 as the seller disclosed them. |
| 14 Mar 2022 | Groupe Gorgé (now Exail Technologies) / iXblueCompleted | Enterprise value EUR 410m: the buyer's figure.The twelve months: LTM to 2021-12-31 - last reported year (FY2021)Source: Groupe Gorgé closing release; Actusnews; Option Finance | – |
| 31 Mar 2021 | AAC Clyde Space AB / Omnisys Instruments ABCompleted | Enterprise value SEK 75.0m: the buyer's figure.The twelve months: LTM to 2020-12-31 - last reported full year FY2020 (calendar 2020, K2 standard) as given in the buyer's releaseSource: AAC Clyde Space press release 31 March 2021 (MFN.se) | – |
| 4 Jan 2021 | Teledyne Technologies / FLIR SystemsCompleted | Enterprise value USD 8,000m: the buyer's figure.The twelve months: LTM to 2020-12-31 - FLIR's FY2020 revenue from its Q4/FY2020 resultsSource: Teledyne Form 8-K joint news release and presentation 'Teledyne to Acquire FLIR Systems', 4 January 2021: price, enterprise value; FLIR Systems Q3 2020 and Q4/FY2020 results (Form 8-K Ex.99.1): revenue; Teledyne Form 424B3 joint proxy statement/prospectus: shares | – |
How to read it
- Recent sector developments. The events of the period named in the heading, set out as a bank’s sector update sets them out - a line each, by day, under a band for each group where the industry has groups: deals and large funding rounds, contracts and programmes, results and guidance, budgets and regulation. They are found by Argonaut’s automated research in public sources and shown as found: no editor reviews a line before it appears, so open its source before you rely on it. Each line ends on the site of the release or the article it rests on, which the link opens; a figure in it is that source’s own, in its currency, and none is Argonaut’s. They are a summary, not advice, and they are no part of the figures below: an edition’s tables do not move when the developments do.
- Money is in millions of each company’s or transaction’s own currency, named in its line; nothing is converted. The multiples are computed here from the figures the site keeps, not copied from a data site; the one that is quoted from a buyer is marked.
- Listed companies. The enterprise value is the one read on the day of the price, or the market value plus net debt, or, for a company under offer, the one before the offer: Appendix A says which. The price against its 52-week high, its change over twelve months and the dividend yield are as a data site prints them. Net debt / LTM EBITDA is on the EBITDA of the last twelve months as a data site prints them, else of the last reported year; net cash is in brackets, and beyond 15x either way, or on an EBITDA of zero or less, it is n.m.
- 2026E and 2027E. The calendar year of the edition’s last update and the next: an edition updated in 2027 shows 2027E and 2028E. Each figure is the best estimate the report can make: the analysts’ consensus, or what the company has reported for a year already ended; else the company’s guidance, marked g; else Argonaut’s own estimate, marked e - sales carried forward at the growth the company’s own figures show, by 25% a year at most, and EBITDA as those sales at the margin of the nearest year the library holds, a forecast year’s, else the last reported year’s, else the last twelve months’. Where a fiscal year does not end in December, the two fiscal years are weighted by the months each has in the calendar year; where only one of them is held and it covers at least half the year, it stands in, marked ~. Appendix A gives every figure with how it was obtained.
- EBITDA. In this order: the analysts’ consensus; else the company’s guidance, marked g; else Argonaut’s own estimate, marked e. Appendix A says which of the three each figure is, and where it was read. Where the library holds the development cost a company capitalised in its last reported year, read in its annual report, it is taken off both years’ EBITDA, as a bank’s comps do for companies reporting under IFRS, and the multiple and the margin are marked †; where it holds none, nothing is taken off. P / E is the share price over the consensus earnings per share of the year, weighted by months as the other figures are and marked ~ where one fiscal year stands in. Sales growth is the second year’s sales over the first’s; where a fiscal year stands for the first, it is that fiscal year’s growth to the next, marked ~, and none is shown where the second year is only the first held. The EBITDA margin is the second year’s.
- Transactions. The value is the buyer’s own figure where it gives one. The columns are the bases a valuation counts on, LTM and forward; the word under a multiple says what its year really is when it is not that. LTM: the twelve months, or the last full year, before the announcement. Current year: the year running at the announcement, which the buyer only expected. Next year: the year after; a later year, one further out. NTM: the twelve months after the announcement, from a forecast of the time or, where it is marked projected, estimated from the target’s reported growth with the LTM margin held. Where the buyer states its own multiple and no figure, the multiple is quoted as stated and marked the buyer’s multiple, on the twelve months before the announcement as on the year after. No LTM figure is worked back from a multiple the buyer states. Marked estimate: the EBITDA is Argonaut’s, from the buyer’s own figures - the revenue it expects at the margin it gave, a range taken at its midpoint, or the EBITDA its multiple after synergies implies, less the synergies it counts; on the twelve months before the announcement too, where the EBITDA column then stays empty. Marked consensus: the forward figures are the analysts’ consensus for a listed target; where two readings of it differ by more than 2%, the multiple is a range, and where they differ by more than 10% none is shown. A value marked estimate is one no party states: the price of a stake scaled to the whole, plus the debt. ‡: a figure a newspaper reported, not one the buyer or the target states. A figure may come from the buyer’s release, its acquisition call or presentation, the target’s own accounts or the press that names its source: Appendix B says which. n.d.: not disclosed. Appendix B gives what each target makes, who sold it, what its figures rest on, the editor’s note and the source.
- An EBITDA multiple above 35x, or on a figure of zero or less, is shown as n.m. (not meaningful), as is a P / E above 100x or on earnings of zero or less; both are left out of the medians, which also leave out a company without the figure. A median is the middle value of a segment’s companies.
- Charts. Each bar is a segment - the middle value of its companies - the highest first, and the line across them the middle value of all the companies, each counted once; a segment without the figure is not drawn. A multiple with fewer than three figures has no chart.
- Recent notable transactions. The latest for which an EBITDA multiple is known, when there are at least six; else the latest with public terms - a value or a multiple. The bar is the EBITDA multiple paid, on the twelve months before the announcement where the report has it, else the forward one, as the word under it says; a transaction whose multiple is not public keeps its place with a short grey bar, not to scale.
- Sources. All are public. Each transaction names its own. The notes on the transactions are the editor’s comments, not sourced figures. The valuation in a profile does not rest on this report: it stays on the next twelve months. The listed companies’ figures were read from, with the number of companies in brackets where more than one: StockAnalysis.com (117); MarketScreener (88); the companies’ own reports, releases and filings (66); SEC filings (9); Investing.com (8); Yahoo Finance (7); Stockopedia (4); Boursorama (3); Quartr (3); Inderes (2); Investegate (2); Multibagg (2); Raiffeisen (2); The Globe and Mail / TipRanks (2); 45 more sites; other pages (6). Appendix A names each company’s sources.