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CAE

CAE Inc.

CAE

CAE Inc. • NYSE
$26.86 ▲ 1.55% (+0.41)
Market Cap $8.63 B
52w High $30.13
52w Low $20.36
Dividend Yield 0%
P/E 27.69
Volume 836.94K
Outstanding Shares 321.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $1.237B ▲ $164M ▼ $73.9M ▲ 5.976% ▲ $0.23 ▲ $212.4M ▼
Q1-2025 $1.099B ▼ $174.5M ▲ $57.2M ▼ 5.207% ▼ $0.18 ▼ $241.2M ▼
Q4-2024 $1.275B ▲ $150.8M ▲ $135.9M ▼ 10.655% ▼ $0.42 ▼ $345.5M ▼
Q3-2024 $1.223B ▲ $77M ▼ $168.6M ▲ 13.781% ▲ $0.53 ▲ $362.9M ▲
Q2-2024 $1.137B $173M $52.5M 4.619% $0.16 $218.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $178.7M ▲ $11.089B ▲ $5.929B ▲ $5.079B ▲
Q1-2025 $171.2M ▼ $10.879B ▼ $5.888B ▼ $4.908B ▲
Q4-2024 $293.7M ▼ $11.214B ▲ $6.238B ▼ $4.891B ▲
Q3-2024 $302.5M ▲ $11.083B ▲ $6.324B ▲ $4.673B ▲
Q2-2024 $179.7M $10.127B $5.663B $4.382B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $53.06M ▼ $163.632M ▲ $-84.796M ▲ $-76.467M ▼ $2.56M ▲ $100.735M ▲
Q1-2025 $60.2M ▼ $-15.3M ▼ $-120.6M ▼ $18.4M ▲ $-122.5M ▼ $-144.6M ▼
Q4-2024 $94.429M ▼ $224.225M ▼ $-89.356M ▲ $-145.638M ▼ $-6.133M ▼ $148.487M ▼
Q3-2024 $171.2M ▲ $424.6M ▲ $-419.9M ▼ $114.8M ▲ $122.8M ▲ $309.7M ▲
Q2-2024 $54.8M $162.1M $-75.2M $-55.7M $36.5M $80.7M

Five-Year Company Overview

Income Statement

Income Statement CAE’s revenue has grown steadily over the past five years, recovering well from the pandemic slowdown and expanding into a larger business today than before 2020. Profitability, however, has been more uneven. The company moved from small profits to a solid profit, then slipped into a loss, and most recently bounced back with much healthier earnings. This pattern suggests a business that has been investing heavily, integrating acquisitions, and restructuring, which temporarily pressured margins but is now showing clear signs of improved efficiency and pricing power. Overall, the latest year points to a stronger, more profitable core, but with a history that reminds you results can be volatile when the company is transforming.

Balance Sheet

Balance Sheet CAE’s balance sheet shows a larger company with more assets and higher shareholders’ equity than five years ago, which is a positive sign of scale and accumulated value. At the same time, debt has climbed meaningfully and now represents a significant part of its funding, while cash on hand is relatively modest. This combination points to a business that has leaned on borrowing to finance growth, acquisitions, and capacity, rather than hoarding liquidity. The structure looks consistent with a capital-intensive, infrastructure-heavy model, but it also means the company is more sensitive to interest costs and must keep earnings and cash generation on a solid path to comfortably support its obligations.

Cash Flow

Cash Flow Cash generation from day-to-day operations has improved over time, especially in the most recent year, which now looks much healthier than during the early pandemic period. Free cash flow was thin and even slightly negative at one point because CAE was spending heavily on new simulators, facilities, and technology. Recently, that picture has improved: the company is now producing a more meaningful cash surplus after investment. In simple terms, CAE is moving from a phase of “build and spend” toward one where the existing network and technology base are starting to pay off in recurring, tangible cash, but the business still requires ongoing, sizeable capital spending to stay ahead.

Competitive Edge

Competitive Edge CAE holds a very strong position in its niche. It is a global leader in full‑flight simulators and training services, with a broad network of training centers and deep, long‑term relationships with airlines, aircraft makers, and defense customers. Strict safety and regulatory requirements create a steady need for training and re‑certification, which supports recurring demand, while the cost and complexity of changing providers make customers reluctant to switch. Its acquisitions in defense training and flight operations software have widened its reach and made its offering more “sticky.” On the risk side, CAE remains exposed to airline health, travel cycles, defense budgets, and continuing competition from large aerospace and defense players that are also investing in simulation and digital training.

Innovation and R&D

Innovation and R&D Innovation is a central part of CAE’s strategy. The company has shifted from being just a simulator manufacturer to running a digital training ecosystem that uses data analytics, artificial intelligence, and biometrics to tailor training to each pilot or operator. Platforms like CAE Rise and its synthetic training environments show a push toward more evidence‑based, competency‑focused training. Project Resilience, a large multi‑year investment program, aims to push even further into immersive, data‑driven, and greener aviation technologies, as well as emerging areas like advanced air mobility. The transformation plan under the new CEO emphasizes both innovation and better cost discipline. This creates a potential long‑term advantage but also raises execution risk: the company must successfully translate heavy R&D and capital spending into durable, profitable offerings.

Summary

CAE today is a larger, more advanced, and more digitally focused training and simulation company than it was five years ago. Revenues and operating cash flows have trended upward, and the most recent year shows a meaningful recovery in profitability after a period of restructuring and integration challenges. The balance sheet reflects ambitious growth, with higher debt and ongoing investment needs that place importance on maintaining strong, stable cash generation. Competitively, CAE benefits from scale, regulation‑driven recurring demand, and deep customer relationships across civil aviation and defense, which together form a substantial moat. Its heavy emphasis on innovation—through AI‑driven training, multi‑domain synthetic environments, and new markets like advanced air mobility—positions it for future industry shifts, but also means the company is continually balancing growth investments with the need for financial resilience.

NEWS

November 20, 2025 · 3:25 PM UTC

CAE signs agreement with Saab for GlobalEye training platforms

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November 11, 2025 · 4:14 PM UTC

CAE reports second quarter fiscal 2026 results

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November 7, 2025 · 2:32 PM UTC

/C O R R E C T I O N from Source -- CAE Inc./

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October 31, 2025 · 9:14 AM UTC

Advisory: CAE's FY2026 Q2 financial results conference call

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October 31, 2025 · 9:00 AM UTC

Spread Your Wings: Applications open tomorrow for seventh edition of the Air Canada and CAE Captain Judy Cameron Scholarship

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