CAE (CAE)
Designs flight simulators and trains the civil and military pilots who fly them.
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Builds full-flight simulators and runs the training centers that use them, spanning civil, business-jet, and defense aviation through two segments — Civil Aviation and Defense and Security — anchored by a global ab initio pilot-school network and a US-focused military training franchise built around a 2021 acquisition.
Builds full-flight simulators and operates the training centers that use them, running the broadest civil-aviation training footprint in the industry alongside an ab initio pilot school network that trains cadets from their first lesson.
Two segments carry the business: Civil Aviation, serving commercial and business-jet operators, and Defense and Security, which became a top-tier US military training supplier after absorbing a major American simulation business in 2021, trailing only Lockheed Martin in that market.
Civil results track airline hiring and training-center utilization; older fixed-price defense contracts predating pandemic-era cost inflation are still being worked through the backlog.
Headquartered in Quebec since a 1947 founding, the company has traded on the New York Stock Exchange and the Toronto Stock Exchange since 1972.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 15, 2026 | Morgan Stanley | Downgrade | ||
| Jun 25, 2026 | Jefferies | Reiterate | Rating: —Target: $27 | Target: $26 |
| May 26, 2026 | RBC Capital | Reiterate | Rating: —Target: — | Target: $34 |
| Apr 17, 2026 | Jefferies | Reiterate | Rating: —Target: $30 | Target: $27 |
| May 21, 2025 | RBC Capital | Downgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $404.4M · Total debt $2.29B · Total assets $7.95B · Shareholders' equity $3.85B
- Revenue
- $834.4M
- Operating income
- $51.9M
- Net income
- $22.0M
Reported in CAD, converted at the latest exchange rate
No dividends on record.
| Institutions | ≈ 71.48% | 229.86M shares | |
|---|---|---|---|
| 296 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Other | ≈ 28.52% | 91.72M shares | |
| remainder | |||
321.58M company shares as of Aug 26, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Caisse de Depot et Placement du QuebecInstitution | 9.61% | 30.92M | as of Jun 30, 2026 |
1832 Asset Management L.P.Institution | 6.08% | 19.56M | as of Jun 30, 2026 |
Brandes Investment Partners, LPInstitution | 5.72% | 18.40M | as of Jun 30, 2026 |
Jarislowsky, Fraser LimitedInstitution | 5.39% | 17.33M | filed Feb 12, 2024 |
Browning West LPInstitution | 3.92% | 12.61M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Lockheed Martin
Largest US defense training and simulation prime by market share
- Boeing
Competes in airline pilot training, OEM aircrew simulators, and ops software
- Textron
Direct FFS rival for business jets and rotorcraft via TRU Simulation
- Northrop Grumman
Electronic-warfare and networked-training rival in the same USAF ecosystem
- Elbit Systems
International defense trainer overlapping on UK MoD and platform simulators
- General Dynamics
Peripheral US Army live-training and naval simulator rival
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| CAE | $24.59 | +0.04% | $7.89B | 38.7 | 28.0 | 2.2 | +2.4% |
| Lockheed Martin | $522.55 | +0.06% | $123.57B | 19.7 | 16.6 | 1.6 | +10.5% |
| Boeing | $198.07 | +0.17% | $158.98B | 87.1 | 149.7 | 1.7 | +8.0% |
| Textron | $77.88 | −0.01% | $13.66B | 15.0 | 11.7 | 0.9 | +3.0% |
| Northrop Grumman | $510.40 | +0.09% | $74.82B | 16.7 | 17.4 | 1.7 | +5.1% |
| Elbit Systems | $744.91 | +0.10% | $35.17B | 56.1 | — | 4.1 | +15.9% |
| General Dynamics | $343.75 | +0.08% | $95.75B | 21.6 | 19.6 | 1.7 | +8.1% |
| Median | 20.7 | 17.4 | 1.7 | +8.0% |