Intrinsic value of CAE - CAE

Previous Close

$18.47

  Intrinsic Value

$10.89

stock screener

  Rating & Target

sell

-41%

Previous close

$18.47

 
Intrinsic value

$10.89

 
Up/down potential

-41%

 
Rating

sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of CAE stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

Please visit our new site that uses elements of artificial intelligence for stock valuation: artificial intelligence value of CAE (CAE) stock.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.63
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  2,002
  2,042
  2,089
  2,143
  2,203
  2,270
  2,343
  2,423
  2,509
  2,602
  2,702
  2,809
  2,923
  3,044
  3,173
  3,310
  3,455
  3,609
  3,771
  3,943
  4,124
  4,315
  4,517
  4,729
  4,953
  5,189
  5,437
  5,699
  5,974
  6,263
  6,567
Variable operating expenses, $m
 
  1,739
  1,778
  1,823
  1,873
  1,928
  1,989
  2,056
  2,127
  2,205
  2,288
  2,335
  2,430
  2,531
  2,638
  2,752
  2,872
  3,000
  3,135
  3,278
  3,428
  3,587
  3,755
  3,932
  4,118
  4,314
  4,520
  4,737
  4,966
  5,206
  5,459
Fixed operating expenses, $m
 
  28
  28
  29
  30
  31
  31
  32
  33
  34
  35
  35
  36
  37
  38
  39
  40
  41
  42
  43
  44
  45
  46
  48
  49
  50
  51
  53
  54
  55
  57
Total operating expenses, $m
  1,732
  1,767
  1,806
  1,852
  1,903
  1,959
  2,020
  2,088
  2,160
  2,239
  2,323
  2,370
  2,466
  2,568
  2,676
  2,791
  2,912
  3,041
  3,177
  3,321
  3,472
  3,632
  3,801
  3,980
  4,167
  4,364
  4,571
  4,790
  5,020
  5,261
  5,516
Operating income, $m
  270
  275
  283
  291
  300
  311
  323
  335
  349
  364
  380
  438
  457
  476
  497
  519
  543
  568
  594
  622
  651
  683
  715
  750
  787
  825
  866
  909
  954
  1,001
  1,051
EBITDA, $m
  427
  441
  451
  463
  476
  490
  506
  524
  543
  563
  585
  609
  634
  661
  690
  720
  753
  787
  823
  862
  902
  945
  990
  1,038
  1,088
  1,141
  1,196
  1,255
  1,317
  1,382
  1,450
Interest expense (income), $m
  43
  41
  43
  46
  49
  52
  56
  60
  64
  69
  74
  80
  86
  92
  99
  106
  114
  122
  131
  140
  149
  159
  170
  181
  193
  206
  219
  233
  247
  263
  279
Earnings before tax, $m
  216
  234
  239
  245
  252
  259
  267
  275
  284
  295
  305
  358
  371
  384
  398
  413
  429
  446
  463
  482
  502
  523
  545
  569
  593
  620
  647
  676
  706
  739
  772
Tax expense, $m
  26
  63
  65
  66
  68
  70
  72
  74
  77
  80
  82
  97
  100
  104
  107
  111
  116
  120
  125
  130
  136
  141
  147
  154
  160
  167
  175
  183
  191
  199
  209
Net income, $m
  186
  171
  175
  179
  184
  189
  195
  201
  208
  215
  223
  262
  271
  280
  291
  301
  313
  325
  338
  352
  367
  382
  398
  415
  433
  452
  472
  493
  516
  539
  564

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  374
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,963
  3,660
  3,744
  3,840
  3,948
  4,068
  4,199
  4,342
  4,497
  4,664
  4,843
  5,034
  5,238
  5,456
  5,687
  5,932
  6,192
  6,468
  6,759
  7,066
  7,391
  7,733
  8,095
  8,475
  8,877
  9,299
  9,744
  10,212
  10,705
  11,224
  11,769
Adjusted assets (=assets-cash), $m
  3,589
  3,660
  3,744
  3,840
  3,948
  4,068
  4,199
  4,342
  4,497
  4,664
  4,843
  5,034
  5,238
  5,456
  5,687
  5,932
  6,192
  6,468
  6,759
  7,066
  7,391
  7,733
  8,095
  8,475
  8,877
  9,299
  9,744
  10,212
  10,705
  11,224
  11,769
Revenue / Adjusted assets
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
  0.558
Average production assets, $m
  1,412
  1,440
  1,473
  1,511
  1,553
  1,600
  1,652
  1,708
  1,769
  1,835
  1,905
  1,980
  2,061
  2,146
  2,237
  2,334
  2,436
  2,544
  2,659
  2,780
  2,907
  3,042
  3,184
  3,334
  3,492
  3,658
  3,833
  4,017
  4,211
  4,415
  4,630
Working capital, $m
  478
  145
  148
  152
  156
  161
  166
  172
  178
  185
  192
  199
  208
  216
  225
  235
  245
  256
  268
  280
  293
  306
  321
  336
  352
  368
  386
  405
  424
  445
  466
Total debt, $m
  929
  940
  997
  1,062
  1,135
  1,216
  1,305
  1,402
  1,506
  1,619
  1,740
  1,870
  2,008
  2,156
  2,312
  2,478
  2,654
  2,841
  3,038
  3,246
  3,466
  3,697
  3,942
  4,200
  4,471
  4,758
  5,059
  5,376
  5,709
  6,060
  6,430
Total liabilities, $m
  2,468
  2,478
  2,535
  2,600
  2,673
  2,754
  2,843
  2,940
  3,044
  3,157
  3,278
  3,408
  3,546
  3,694
  3,850
  4,016
  4,192
  4,379
  4,576
  4,784
  5,004
  5,235
  5,480
  5,738
  6,009
  6,296
  6,597
  6,914
  7,247
  7,598
  7,968
Total equity, $m
  1,496
  1,182
  1,209
  1,240
  1,275
  1,314
  1,356
  1,402
  1,452
  1,506
  1,564
  1,626
  1,692
  1,762
  1,837
  1,916
  2,000
  2,089
  2,183
  2,282
  2,387
  2,498
  2,615
  2,738
  2,867
  3,004
  3,147
  3,299
  3,458
  3,625
  3,801
Total liabilities and equity, $m
  3,964
  3,660
  3,744
  3,840
  3,948
  4,068
  4,199
  4,342
  4,496
  4,663
  4,842
  5,034
  5,238
  5,456
  5,687
  5,932
  6,192
  6,468
  6,759
  7,066
  7,391
  7,733
  8,095
  8,476
  8,876
  9,300
  9,744
  10,213
  10,705
  11,223
  11,769
Debt-to-equity ratio
  0.621
  0.790
  0.820
  0.860
  0.890
  0.930
  0.960
  1.000
  1.040
  1.070
  1.110
  1.150
  1.190
  1.220
  1.260
  1.290
  1.330
  1.360
  1.390
  1.420
  1.450
  1.480
  1.510
  1.530
  1.560
  1.580
  1.610
  1.630
  1.650
  1.670
  1.690
Adjusted equity ratio
  0.313
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323
  0.323

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  186
  171
  175
  179
  184
  189
  195
  201
  208
  215
  223
  262
  271
  280
  291
  301
  313
  325
  338
  352
  367
  382
  398
  415
  433
  452
  472
  493
  516
  539
  564
Depreciation, amort., depletion, $m
  157
  166
  168
  172
  175
  179
  184
  189
  194
  200
  206
  171
  178
  185
  193
  201
  210
  219
  229
  240
  251
  262
  275
  287
  301
  315
  330
  346
  363
  381
  399
Funds from operations, $m
  384
  337
  343
  351
  359
  368
  378
  390
  402
  415
  429
  432
  448
  465
  483
  503
  523
  545
  567
  592
  617
  644
  673
  703
  734
  768
  803
  840
  879
  920
  963
Change in working capital, $m
  40
  3
  3
  4
  4
  5
  5
  6
  6
  7
  7
  8
  8
  9
  9
  10
  10
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  19
  20
  21
  22
Cash from operations, $m
  344
  334
  340
  347
  355
  363
  373
  384
  395
  408
  421
  425
  440
  457
  474
  493
  513
  534
  556
  579
  604
  631
  658
  688
  718
  751
  785
  821
  859
  899
  941
Maintenance CAPEX, $m
  0
  -122
  -124
  -127
  -130
  -134
  -138
  -142
  -147
  -152
  -158
  -164
  -171
  -178
  -185
  -193
  -201
  -210
  -219
  -229
  -240
  -251
  -262
  -275
  -287
  -301
  -315
  -330
  -346
  -363
  -381
New CAPEX, $m
  -165
  -28
  -33
  -38
  -42
  -47
  -52
  -56
  -61
  -66
  -70
  -75
  -80
  -86
  -91
  -97
  -102
  -108
  -114
  -121
  -128
  -135
  -142
  -150
  -158
  -166
  -175
  -184
  -194
  -204
  -215
Cash from investing activities, $m
  -192
  -150
  -157
  -165
  -172
  -181
  -190
  -198
  -208
  -218
  -228
  -239
  -251
  -264
  -276
  -290
  -303
  -318
  -333
  -350
  -368
  -386
  -404
  -425
  -445
  -467
  -490
  -514
  -540
  -567
  -596
Free cash flow, $m
  152
  184
  183
  182
  182
  182
  184
  185
  187
  190
  193
  185
  189
  193
  198
  204
  209
  215
  222
  229
  237
  245
  254
  263
  273
  284
  295
  307
  319
  332
  346
Issuance/(repayment) of debt, $m
  -53
  49
  57
  65
  73
  81
  89
  97
  105
  113
  121
  130
  138
  147
  157
  166
  176
  186
  197
  208
  220
  232
  245
  258
  272
  286
  301
  317
  334
  351
  369
Issuance/(repurchase) of shares, $m
  -21
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -74
  49
  57
  65
  73
  81
  89
  97
  105
  113
  121
  130
  138
  147
  157
  166
  176
  186
  197
  208
  220
  232
  245
  258
  272
  286
  301
  317
  334
  351
  369
Total cash flow (excl. dividends), $m
  74
  232
  240
  247
  255
  264
  273
  282
  292
  303
  314
  315
  327
  341
  355
  370
  385
  402
  419
  437
  457
  477
  498
  521
  545
  570
  596
  624
  653
  683
  715
Retained Cash Flow (-), $m
  -98
  -22
  -27
  -31
  -35
  -39
  -42
  -46
  -50
  -54
  -58
  -62
  -66
  -70
  -75
  -79
  -84
  -89
  -94
  -99
  -105
  -111
  -117
  -123
  -130
  -136
  -144
  -151
  -159
  -167
  -176
Prev. year cash balance distribution, $m
 
  336
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  546
  212
  216
  220
  225
  230
  236
  242
  249
  256
  253
  261
  270
  280
  290
  301
  313
  325
  338
  352
  366
  382
  398
  415
  433
  452
  472
  493
  516
  539
Discount rate, %
 
  4.50
  4.73
  4.96
  5.21
  5.47
  5.74
  6.03
  6.33
  6.65
  6.98
  7.33
  7.70
  8.08
  8.49
  8.91
  9.36
  9.82
  10.31
  10.83
  11.37
  11.94
  12.54
  13.16
  13.82
  14.51
  15.24
  16.00
  16.80
  17.64
  18.52
PV of cash for distribution, $m
 
  523
  194
  187
  180
  172
  165
  157
  148
  139
  130
  116
  107
  98
  90
  81
  72
  64
  56
  48
  41
  34
  28
  23
  19
  15
  11
  9
  6
  5
  3
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

CAE Inc. provides training for the civil aviation, defense and security, and healthcare markets. The Company designs and integrates training solutions. It operates through three segments: Civil Aviation Training Solutions, Defense and Security, and Healthcare. The Company provides training solutions for flight, cabin, maintenance and ground personnel in commercial, business and helicopter aviation, a range of flight simulation training devices, as well as ab initio pilot training and crew sourcing services. The Company is a training systems integrator for defense forces across the air, land and sea domains, and for government and civil security organizations responsible for public safety. The Company designs, manufactures and markets simulators, simulation center management solutions and courseware for training of medical and allied healthcare students and clinicians in educational institutions, hospitals and defense organizations across the world.

FINANCIAL RATIOS  of  CAE (CAE)

Valuation Ratios
P/E Ratio 26.7
Price to Sales 2.5
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 14.4
Price to Free Cash Flow 27.7
Growth Rates
Sales Growth Rate 7.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 89.7%
Cap. Spend. - 3 Yr. Gr. Rate 7.3%
Financial Strength
Quick Ratio 10
Current Ratio 0.3
LT Debt to Equity 59.6%
Total Debt to Equity 62.1%
Interest Coverage 6
Management Effectiveness
Return On Assets 5.8%
Ret/ On Assets - 3 Yr. Avg. 5.8%
Return On Total Capital 7.8%
Ret/ On T. Cap. - 3 Yr. Avg. 7.6%
Return On Equity 12.9%
Return On Equity - 3 Yr. Avg. 13%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 30%
Gross Margin - 3 Yr. Avg. 28.2%
EBITDA Margin 20.8%
EBITDA Margin - 3 Yr. Avg. 21.6%
Operating Margin 13.5%
Oper. Margin - 3 Yr. Avg. 13.9%
Pre-Tax Margin 10.8%
Pre-Tax Margin - 3 Yr. Avg. 10.9%
Net Profit Margin 9.3%
Net Profit Margin - 3 Yr. Avg. 9.1%
Effective Tax Rate 12%
Eff/ Tax Rate - 3 Yr. Avg. 14%
Payout Ratio 32.3%

CAE stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CAE stock intrinsic value calculation we used $2002 million for the last fiscal year's total revenue generated by CAE. The default revenue input number comes from 2017 income statement of CAE. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CAE stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.5%, whose default value for CAE is calculated based on our internal credit rating of CAE, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of CAE.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CAE stock the variable cost ratio is equal to 85.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $27 million in the base year in the intrinsic value calculation for CAE stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.6% for CAE.

Corporate tax rate of 27% is the nominal tax rate for CAE. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CAE stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CAE are equal to 70.5%.

Life of production assets of 11.6 years is the average useful life of capital assets used in CAE operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CAE is equal to 7.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1496 million for CAE - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 268.858 million for CAE is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of CAE at the current share price and the inputted number of shares is $5.0 billion.

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COMPANY NEWS

▶ CAE Inc. to Host Earnings Call   [Feb-09-18 10:00AM  ACCESSWIRE]
▶ CAE renews its normal course issuer bid   [08:35AM  Marketwired]
▶ Is CAE Inc (TSE:CAE) A Good Choice For Dividend Investors?   [Feb-08-18 12:12PM  Simply Wall St.]
▶ Did CAE Incs (TSE:CAE) Recent Earnings Growth Beat The Trend?   [Jan-24-18 07:27AM  Simply Wall St.]
▶ Is CAE Inc (TSE:CAE) Undervalued?   [Jan-16-18 03:53PM  Simply Wall St.]
▶ CAE Inc (TSE:CAE): Time For A Financial Health Check   [Dec-31-17 11:35AM  Simply Wall St.]
▶ ETFs with exposure to CAE, Inc. : December 8, 2017   [Dec-08-17 12:28PM  Capital Cube]
▶ Is It Time To Buy CAE Inc (TSX:CAE) Based Off Its PE Ratio?   [Nov-30-17 07:43AM  Simply Wall St.]
▶ CAE, Inc. Value Analysis (NYSE:CAE) : November 20, 2017   [Nov-20-17 01:55PM  Capital Cube]
▶ CAE misses Street 2Q forecasts   [Nov-10-17 04:49PM  Associated Press]
▶ CAE Inc. to Host Earnings Call   [11:00AM  ACCESSWIRE]
▶ What Affected CAEs Dividend Yield?   [Oct-23-17 09:07AM  Market Realist]
▶ ETFs with exposure to CAE, Inc. : October 3, 2017   [Oct-03-17 11:00AM  Capital Cube]
▶ CAE Inc (TSX:CAE): What Does It Mean For Your Portfolio?   [Sep-29-17 11:12AM  Simply Wall St.]
▶ Media statement: CAE reaffirms its support to Bombardier   [Sep-06-17 03:57PM  Marketwired]
▶ ETFs with exposure to CAE, Inc. : September 1, 2017   [Sep-01-17 07:06PM  Capital Cube]
▶ AirAsia CEO says leasing unit sale is 'imminent'   [Aug-24-17 05:06PM  Reuters]
▶ CAE, Inc. Value Analysis (NYSE:CAE) : August 11, 2017   [Aug-11-17 07:50PM  Capital Cube]
▶ Investor Network: CAE Inc. to Host Earnings Call   [Aug-10-17 11:00AM  ACCESSWIRE]
▶ 3 Under-the-Radar Defense Plays   [Jul-13-17 12:56PM  Investopedia]
▶ Shortage of pilots could hinder airlines' growth   [Jun-20-17 05:25AM  Reuters]
▶ ETFs with exposure to CAE, Inc. : June 8, 2017   [Jun-08-17 01:27PM  Capital Cube]
▶ ETFs with exposure to CAE, Inc. : May 26, 2017   [May-26-17 01:01PM  Capital Cube]
▶ Boeing Training Jet Rivals Are Dropping Like Flies   [Feb-19-17 08:13AM  at Motley Fool]
Financial statements of CAE
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