CAE INC. vs Fluence Energy, Inc., two Electrical Equipment stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
CAE trains pilots and builds simulators, earning 8.34% on equity at an 8.81% net margin with no net debt, a settled and profitable business. Fluence Energy assembles grid-scale battery-storage systems and is still unprofitable, a growth-stage company burning cash, its free cash flow running at negative 9.91% of price. CAE, by contrast, generates positive free cash of 4.88%. The market pays 5.57 times book for Fluence against 2.22 for CAE, pricing in a future the storage company has yet to earn. Both operate debt-light. CAE at $8.1B is three times the size of Fluence at $2.6B, and the one already turning revenue into profit.
Comparison updated 2026-07-11.
| Metric | CAE | FLNC |
|---|---|---|
| Price | $25.64 | $16.16 |
| Market cap | $8.2B | $2.1B |
| Sector | Electrical Equipment | Electrical Equipment |
| Stage | Growth | Growth |
| Implied growth (priced in) | +13.5% | — |
| P/B | 2.24 | 4.67 |
| P/S | 2.36 | 0.83 |
| EV/EBITDA | 9.5 | 50.1 |
| Revenue growth | +12.2% | +42.9% |
| Gross margin | 27.6% | 10.0% |
| Operating margin | 15.5% | — |
| Net margin | 8.8% | -1.6% |
| Return on equity | 8.3% | -9.1% |
| Return on assets | 3.7% | -1.8% |
| Return on invested capital | 11.8% | — |
| FCF yield | 4.9% | -11.8% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.80 | 1.43 |
| Altman Z (solvency) | 1.91 | 1.94 |
| Piotroski F (quality) | 6 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.