CAE Inc key statistics and ratios

In fiscal 2026, CAE Inc had return on equity of 6.3%, an operating margin of 12.5%, debt equal to 61.0% of equity and a current ratio of 0.96. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

CAE Inc: financial ratios, annual
Fiscal year	2017Mar 2017	2018Mar 2018	2019Mar 2019	2020Mar 2020	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Gross margin	30.0%	31.1%	28.5%	29.9%	25.7%	28.3%	27.0%	27.0%	27.6%	28.3%
Operating margin	13.5%	16.4%	14.5%	14.8%	1.6%	8.4%	11.6%	−4.3%	15.5%	12.5%
Net margin	9.3%	12.3%	10.0%	8.6%	−1.6%	4.2%	5.6%	−7.1%	8.6%	6.4%
Free-cash-flow margin	8.9%	8.1%	8.4%	7.2%	8.7%	4.3%	3.5%	5.5%	11.5%	10.3%
Return on equity	13.1%	16.9%	14.3%	13.2%	−1.7%	4.0%	5.1%	−7.0%	8.9%	6.3%
Return on assets	4.7%	6.3%	5.0%	4.1%	−0.6%	1.5%	2.2%	−3.0%	3.9%	2.9%
Asset turnover	0.51	0.52	0.50	0.47	0.35	0.37	0.39	0.42	0.45	0.45
Current ratio	1.39	1.44	1.10	1.36	1.28	1.03	0.99	0.85	0.80	0.96
Debt to equity	64.3%	56.6%	108.9%	133.0%	74.9%	76.0%	72.1%	72.8%	70.9%	61.0%
Interest cover (operating income ÷ interest)	6.8x	8.7x	7.6x	4.2x	0.4x	2.4x	2.9x	n/m	3.7x	3.2x
Effective tax rate	12.0%	8.0%	14.9%	18.8%	—	2.3%	21.4%	—	19.2%	19.4%
R&D as % of revenue	4.1%	4.1%	3.1%	3.8%	3.5%	3.6%	3.2%	3.5%	2.6%	2.9%
Capital spending as % of revenue	8.2%	6.2%	7.6%	7.8%	3.6%	8.1%	6.7%	7.7%	7.6%	5.9%
Free cash flow ÷ net income	96.0%	66.3%	84.4%	84.0%	—	103.0%	62.7%	—	133.3%	161.0%
Dividends ÷ net income	32.0%	26.0%	30.3%	35.6%	—	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	33.4%	39.2%	35.9%	42.4%	0.0%	—	—	0.0%	3.9%	1.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 7 checks passed · March 31, 2026

What it owns · $8.0bn

Short-term assets $1.6bnLonger-term assets $6.4bn

What it owes, and who funded it · $7.9bn

Short-term liabilities $1.7bnLonger-term liabilities $2.4bnShareholders' equity $3.8bn

Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $1.7bn of liabilities due within a year.
Short-term assets cover long-term liabilities $1.6bn short-term assets against $2.4bn of longer-dated liabilities.
More cash than debt $396m of cash against $2.3bn of debt.
Debt below 40% of shareholders' equity Debt is 61% of equity.
Debt burden no higher than five years ago Debt to equity moved from 68% to 61% over five years.
A year's operating cash flow covers at least 20% of debt $573m of operating cash flow against $2.3bn of debt.
Operating profit covers interest at least five times over Operating income of $443m against $139m of interest.

From CAE Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from CAE Inc's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to CAE Inc.