CAE Inc.

DB:CE9 Stock Report

Market Cap: €7.3b

CAE Valuation

Is CE9 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CE9 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€37.45
Fair Value
39.1% undervalued intrinsic discount
13
Number of Analysts

Below Fair Value: CE9 (€22.8) is trading below our estimate of fair value (€37.45)

Significantly Below Fair Value: CE9 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CE9?

Key metric: As CE9 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CE9. This is calculated by dividing CE9's market cap by their current revenue.
What is CE9's PS Ratio?
PS Ratio2.4x
SalesCA$4.43b
Market CapCA$10.83b

Price to Sales Ratio vs Peers

How does CE9's PS Ratio compare to its peers?

The above table shows the PS ratio for CE9 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.2x
HAG Hensoldt
2.1x11.8%€4.3b
MTX MTU Aero Engines
2.5x9.2%€17.4b
RHM Rheinmetall
3.2x21.5%€28.2b
OHB OHB
0.9xn/a€909.7m
CE9 CAE
2.4x6.4%€10.8b

Price-To-Sales vs Peers: CE9 is expensive based on its Price-To-Sales Ratio (2.4x) compared to the peer average (2.2x).

Price to Sales Ratio vs Industry

How does CE9's PS Ratio compare vs other companies in the European Aerospace & Defense Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
CE9 2.4xIndustry Avg. 1.5xNo. of Companies12PS01.22.43.64.86+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CE9 is expensive based on its Price-To-Sales Ratio (2.4x) compared to the European Aerospace & Defense industry average (1.5x).

Price to Sales Ratio vs Fair Ratio

What is CE9's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CE9 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.4x
Fair PS Ratio0.6x

Price-To-Sales vs Fair Ratio: CE9 is expensive based on its Price-To-Sales Ratio (2.4x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CE9 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€22.80
€22.37
-1.9%
13.4%€26.96€16.85n/a13
Jan ’26€24.20
€22.04
-8.9%
14.4%€26.75€15.38n/a13
Dec ’25€22.00
€21.27
-3.3%
13.9%€25.11€14.25n/a13
Nov ’25€16.10
€18.49
+14.8%
15.3%€22.45€12.55n/a13
Oct ’25€16.70
€18.69
+11.9%
16.9%€24.03€12.01n/a13
Sep ’25€16.00
€18.69
+16.8%
16.9%€24.03€12.01n/a13
Aug ’25€16.70
€19.26
+15.4%
15.5%€24.01€13.34n/a13
Jul ’25€17.10
€20.06
+17.3%
15.6%€24.57€13.65n/a13
Jun ’25€17.00
€20.37
+19.8%
12.8%€24.30€14.18n/a12
May ’25€17.90
€22.37
+25.0%
10.5%€27.25€17.72n/a12
Apr ’25€18.90
€22.41
+18.5%
8.6%€25.44€17.88n/a12
Mar ’25€17.20
€22.41
+30.3%
8.6%€25.44€17.88n/a12
Feb ’25€18.50
€23.97
+29.6%
9.6%€26.58€17.72n/a12
Jan ’25€19.40
€24.37
+25.6%
8.9%€26.68€17.78€24.2012
Dec ’24€18.20
€23.77
+30.6%
8.7%€25.48€17.43€22.0012
Nov ’24€19.70
€25.95
+31.8%
2.9%€27.50€24.75€16.1012
Oct ’24€22.00
€25.42
+15.6%
2.8%€26.50€23.78€16.7012
Sep ’24€22.20
€25.42
+14.5%
2.8%€26.50€23.78€16.0012
Aug ’24€20.60
€24.77
+20.3%
4.6%€26.08€21.97€16.7011
Jul ’24€19.90
€24.70
+24.1%
4.9%€26.26€22.11€17.1012
Jun ’24€19.10
€24.70
+29.3%
4.9%€26.26€22.11€17.0012
May ’24€20.40
€24.59
+20.6%
3.8%€25.72€22.34€17.9012
Apr ’24€20.40
€25.19
+23.5%
3.7%€26.47€22.99€18.9012
Mar ’24€21.20
€25.19
+18.8%
3.7%€26.47€22.99€17.2012
Feb ’24€20.60
€23.30
+13.1%
4.9%€24.92€20.76€18.5012
Jan ’24€18.10
€23.51
+29.9%
4.9%€25.08€20.90€19.4012
Analyst Price Target
Consensus Narrative from 13 Analysts
€22.24
Fair Value
2.5% overvalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/09 19:37
End of Day Share Price 2025/01/09 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

CAE Inc. is covered by 30 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Will ChienAccountability Research Corporation
Christopher MurrayATB Capital Markets
Fadi ChamounBMO Capital Markets Equity Research