Stock CAE CAE INC.
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Financials CAE Inc.

Equities

CAE

CA1247651088

Aerospace & Defense

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-06-07 pm EDT 		5-day change 1st Jan Change
25.44 CAD -1.32% Intraday chart for CAE Inc. -0.59% -11.05%
Jun. 06 Bombardier, CAE Rating, Price Target Maintained by National Bank MT
Jun. 06 Jefferies Initiates Coverage on CAE With Hold Rating, $21 Price Target MT

Valuation

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 4,734 10,502 10,315 9,714 8,903 8,106 - -
Enterprise Value (EV) 1 7,100 11,928 13,015 12,746 11,817 10,998 10,891 10,905
P/E ratio 15.3 x -211 x 72.3 x 43.7 x -29.4 x 21.9 x 18 x 17 x
Yield 2.42% - - - - - 1.22% 1.06%
Capitalization / Revenue 1.31 x 3.52 x 3.06 x 2.31 x 2.08 x 1.77 x 1.67 x 1.57 x
EV / Revenue 1.96 x 4 x 3.86 x 3.03 x 2.76 x 2.4 x 2.25 x 2.11 x
EV / EBITDA 8.43 x 25.2 x 17.2 x 14.3 x 11.7 x 9.9 x 9.06 x 8.14 x
EV / FCF 27.1 x 46.1 x 89.1 x 91.3 x 49.8 x 36.4 x 28.5 x 26.4 x
FCF Yield 3.69% 2.17% 1.12% 1.1% 2.01% 2.75% 3.51% 3.79%
Price to Book 1.9 x 3.27 x 2.54 x 2.16 x 2.11 x 1.76 x 1.63 x 1.49 x
Nbr of stocks (in thousands) 266,110 293,275 316,984 317,860 318,306 318,644 - -
Reference price 2 17.79 35.81 32.54 30.56 27.97 25.44 25.44 25.44
Announcement Date 5/22/20 5/19/21 5/31/22 5/31/23 5/27/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net sales 1 3,623 2,982 3,371 4,203 4,283 4,587 4,847 5,157
EBITDA 1 842.5 472.7 755 890.3 1,009 1,111 1,202 1,340
EBIT 1 537.1 153.2 444.5 548.1 640 716 796.9 895.1
Operating Margin 14.82% 5.14% 13.18% 13.04% 14.94% 15.61% 16.44% 17.36%
Earnings before Tax (EBT) 1 392.7 -87.2 153.6 296.3 -390.4 485.2 583.8 686.4
Net income 1 318.9 -47.2 141.7 222.7 -304 361.5 430.8 466
Net margin 8.8% -1.58% 4.2% 5.3% -7.1% 7.88% 8.89% 9.04%
EPS 2 1.160 -0.1700 0.4500 0.7000 -0.9500 1.160 1.413 1.500
Free Cash Flow 1 261.7 259 146 139.6 237.1 302.2 381.8 413.5
FCF margin 7.22% 8.69% 4.33% 3.32% 5.54% 6.59% 7.88% 8.02%
FCF Conversion (EBITDA) 31.06% 54.79% 19.34% 15.68% 23.51% 27.21% 31.77% 30.85%
FCF Conversion (Net income) 82.06% - 103.03% 62.69% - 83.59% 88.63% 88.73%
Dividend per Share 2 0.4300 - - - - - 0.3100 0.2700
Announcement Date 5/22/20 5/19/21 5/31/22 5/31/23 5/27/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1
Net sales 1 848.7 955 933.3 993.2 1,020 1,256 1,054 1,088 1,094 1,126 1,081 1,099 1,169 1,224 1,217
EBITDA 1 192.6 223.6 143.5 206.6 248.9 291.3 222.3 229.7 240.3 312.2 241.4 250.2 284 332.7 260.8
EBIT 1 112.7 142.7 39.4 124.7 160.6 201.9 145.1 138.5 145.1 216 140.3 150.8 188.1 230.8 171.9
Operating Margin 13.28% 14.94% 4.22% 12.56% 15.74% 16.07% 13.76% 12.72% 13.26% 19.18% 12.98% 13.72% 16.08% 18.85% 14.12%
Earnings before Tax (EBT) 1 31 60.8 3.2 60.8 97.1 135.2 76 52.6 69.2 -585.4 79.62 90 140.3 169.4 -
Net income 1 26.2 55.1 1.7 44.5 78.1 98.4 65.3 58.4 56.5 -484.2 60.17 67.8 102.8 115.7 -
Net margin 3.09% 5.77% 0.18% 4.48% 7.65% 7.83% 6.19% 5.37% 5.16% -42.99% 5.57% 6.17% 8.79% 9.45% -
EPS 2 0.0800 0.1700 0.0100 0.1400 0.2500 0.3100 0.2000 0.1800 0.1700 -1.520 0.2233 0.2233 0.3167 0.4233 -
Dividend per Share 2 - - - - - - - - - - 0.1000 0.1000 0.1000 0.1000 -
Announcement Date 2/11/22 5/31/22 8/10/22 11/10/22 2/14/23 5/31/23 8/9/23 11/14/23 2/14/24 5/27/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Net Debt 1 2,366 1,425 2,700 3,033 2,914 2,891 2,784 2,799
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.808 x 3.015 x 3.576 x 3.406 x 2.889 x 2.604 x 2.317 x 2.089 x
Free Cash Flow 1 262 259 146 140 237 302 382 414
ROE (net income / shareholders' equity) 12.9% 1.19% 3.96% 5.23% 8.14% 8.75% 9.66% 10.8%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 9.370 11.00 12.80 14.20 13.30 14.50 15.60 17.10
Cash Flow per Share 2 2.020 1.350 1.340 1.300 1.780 2.320 2.670 -
Capex 1 283 108 272 269 330 407 406 432
Capex / Sales 7.82% 3.61% 8.07% 6.39% 7.7% 8.86% 8.37% 8.38%
Announcement Date 5/22/20 5/19/21 5/31/22 5/31/23 5/27/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for CAE Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
13
Last Close Price
25.44 CAD
Average target price
29.46 CAD
Spread / Average Target
+15.81%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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