CAE (CAE) financial statements

Industrials · Aerospace & Defense · Market cap $7.5B

CAE reported revenue of 4.7B CAD in fiscal 2025, up 7.2% a year over 8 years.

Net income was 405M CAD and the operating margin 15.5%, against 13.5% in 2017.

Free cash flow was 452M CAD, and the company returned 21M CAD in net buybacks.

The diluted share count rose 19% over the period (dilution).

Revenue and free cash flow

Fiscal years, $ billions (CAD).

0246201720182019202020212022202320242025RevenueFree cash flow
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Income statement

Fiscal years, in CAD, from CAE's 10-K filings with the SEC.

Fiscal year201720182019202020212022202320242025
Revenue2.7B CAD2.8B CAD3.3B CAD3.6B CAD3.0B CAD3.4B CAD4.0B CAD4.3B CAD4.7B CAD
Cost of revenue1.9B CAD1.9B CAD2.4B CAD2.5B CAD2.2B CAD2.4B CAD2.9B CAD3.1B CAD3.4B CAD
Gross profit811M CAD878M CAD942M CAD1.1B CAD765M CAD956M CAD1.1B CAD1.2B CAD1.3B CAD
Research and development111M CAD115M CAD101M CAD138M CAD105M CAD121M CAD129M CAD150M CAD123M CAD
Selling, general and admin364M CAD381M CAD415M CAD438M CAD399M CAD489M CAD502M CAD535M CAD565M CAD
Operating income365M CAD463M CAD481M CAD537M CAD48M CAD284M CAD466M CAD-185M CAD729M CAD
Interest expense84M CAD91M CAD97M CAD156M CAD149M CAD143M CAD187M CAD222M CAD237M CAD
Pre-tax income292M CAD386M CAD400M CAD393M CAD-87M CAD154M CAD292M CAD-390M CAD514M CAD
Income tax35M CAD31M CAD60M CAD74M CAD-40M CAD4M CAD63M CAD-73M CAD99M CAD
Net income252M CAD346M CAD330M CAD311M CAD-47M CAD142M CAD223M CAD-304M CAD405M CAD
EPS (diluted)0.93 CAD1.28 CAD1.23 CAD1.16 CAD-0.17 CAD0.45 CAD0.69 CAD-1.02 CAD1.27 CAD
Diluted shares270M269M268M268M272M313M318M318M320M
Gross margin30.0%31.1%28.5%29.9%25.7%28.3%27.0%27.0%27.6%
Operating margin13.5%16.4%14.5%14.8%1.6%8.4%11.6%-4.3%15.5%
Net margin9.3%12.3%10.0%8.6%-1.6%4.2%5.6%-7.1%8.6%

Balance sheet

Fiscal years, in CAD, from CAE's 10-K filings with the SEC.

Fiscal year201720182019202020212022202320242025
Cash and short-term investments505M CAD612M CAD446M CAD946M CAD926M CAD346M CAD218M CAD160M CAD294M CAD
Receivables450M CAD452M CAD496M CAD566M CAD519M CAD557M CAD616M CAD625M CAD612M CAD
Inventory549M CAD516M CAD537M CAD616M CAD648M CAD520M CAD583M CAD574M CAD595M CAD
Total current assets2.0B CAD2.1B CAD2.1B CAD2.8B CAD3.4B CAD2.1B CAD2.2B CAD2.0B CAD2.1B CAD
Property, plant and equipment1.6B CAD1.8B CAD1.9B CAD2.2B CAD2.0B CAD2.1B CAD2.4B CAD2.5B CAD3.0B CAD
Goodwill————1.2B CAD2.5B CAD2.7B CAD2.0B CAD2.4B CAD
Total assets5.4B CAD5.8B CAD7.2B CAD8.5B CAD8.7B CAD9.6B CAD10.4B CAD9.8B CAD11.2B CAD
Total current liabilities1.4B CAD1.5B CAD1.9B CAD2.1B CAD2.6B CAD2.1B CAD2.2B CAD2.4B CAD2.7B CAD
Long-term debt1.2B CAD1.2B CAD2.1B CAD3.1B CAD2.1B CAD2.8B CAD3.0B CAD2.8B CAD3.1B CAD
Total liabilities3.4B CAD3.5B CAD4.8B CAD5.9B CAD5.5B CAD5.5B CAD5.8B CAD5.5B CAD6.2B CAD
Shareholders' equity2.0B CAD2.2B CAD2.3B CAD2.5B CAD3.1B CAD4.0B CAD4.5B CAD4.2B CAD4.9B CAD
Net debt699M CAD597M CAD1.6B CAD2.2B CAD1.2B CAD2.5B CAD2.8B CAD2.6B CAD2.8B CAD

Cash flow

Fiscal years, in CAD, from CAE's 10-K filings with the SEC.

Fiscal year201720182019202020212022202320242025
Operating cash flow464M CAD403M CAD530M CAD545M CAD367M CAD418M CAD408M CAD567M CAD896M CAD
Capital spending261M CAD221M CAD338M CAD384M CAD164M CAD363M CAD395M CAD478M CAD444M CAD
Free cash flow204M CAD182M CAD192M CAD161M CAD203M CAD55M CAD13M CAD89M CAD452M CAD
Stock-based compensation29M CAD23M CAD9M CAD14M CAD10M CAD6M CAD6M CAD15M CAD25M CAD
Dividends paid81M CAD90M CAD100M CAD111M CAD0 CAD————
Share buybacks (net)-42M CAD-45M CAD-94M CAD-50M CAD———0 CAD-21M CAD
Net borrowing0 CAD0 CAD883M CAD-65M CAD65M CAD297M CAD-130M CAD63M CAD10M CAD
Free cash flow margin7.5%6.4%5.8%4.4%6.8%1.6%0.3%2.1%9.6%
Dividends per share0.30 CAD0.33 CAD0.37 CAD0.41 CAD—————
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Questions

What was CAE's revenue in 2025?

4.7B CAD in fiscal 2025, from its 10-K filing.

How much free cash flow does CAE generate?

452M CAD in fiscal 2025 (operating cash flow minus capital spending).

From CAE's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.