CAE vs TRU: How CAE Inc. and TransUnion Compare (2026)

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: TRU is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CAE and TRU share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CAE and TRU exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

CAE builds full-flight simulators and sells the training that runs on them. The Civil Aviation segment manufactures simulators for Airbus, Boeing, Embraer and business-jet platforms, then operates a network of training centres where airline and corporate pilots buy recurrent type-rating hours, alongside flight-operations software from the Flightscape and CAE Rise product lines. The Defence and Security segment trains military aircrew and supplies mission-rehearsal and support programs, including the Royal Canadian Air Force Future Aircrew Training contract held through SkyAlyne, CAE's joint venture with KF Aerospace. The Healthcare simulation business was divested in 2024, leaving two segments and one theme: someone has to be certified before they fly, and regulators require that certification to be repeated on a schedule.

Full CAE guide

TransUnion is a global information and insights company best known as one of the three dominant U.S. consumer credit bureaus, alongside Equifax and Experian. It aggregates and analyzes credit, identity, and marketing data on more than a billion consumers across 30-plus countries, then sells reports, scores, analytics, fraud-and-identity tools, and consumer-facing subscription products. Revenue is organized around two segments: U.S. Markets (Financial Services, plus Emerging Verticals like insurance, healthcare, tenant and employment screening, and public sector) and International (fast-growing operations in India, the UK, Canada, Latin America, and Africa).

Full TRU guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• CAE drivers: A defence backlog that is now the larger half; Recurrent training is regulated, not discretionary.
• TRU drivers: U.S. Financial Services reacceleration; International expansion.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Civil order intake at a book-to-sales of about 0.96 for fiscal 2026 means CAE entered fiscal 2027 with less simulator work sold than it delivered, and management itself framed fiscal 2027 as a reset year. For TRU, transUnion's results are directly exposed to the credit cycle: recessions, rising unemployment, or tighter lending cut demand for credit reports and marketing services.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick CAE if you believe its drivers more; TRU if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CAE and TRU guides.

CAE. The reported year ends March 31, so the fiscal 2026 figures above cover the twelve months to March 31, 2026, and fourth-quarter revenue of about C$1,326.7 million was the last full quarter disclosed before the fiscal 2027 first-quarter release scheduled for August 12, 2026. Earnings fell in fiscal 2026 even as revenue rose about 4%, which is why the trailing multiple near 35 times sits well above the forward figure. All amounts are Canadian dollars, roughly 0.73 US dollars each at mid-2026 rates.

TRU. TransUnion returned to double-digit revenue growth in Q1 2026 (up ~14%), beating estimates and prompting a raised full-year outlook. Reported net income was boosted by a one-time gain from consolidating its Mexico operation, so adjusted per-share earnings (around $1.18 in the quarter) give a cleaner view. Valuation multiples vary widely between trailing and forward measures because of past charges, and the sizable debt load makes leverage and free-cash-flow trends central to the story.

Headline figures (approximate, August 2026): CAE shows revenue (fy2026, ended march 31, 2026) ~C$4.9 billion, diluted / adjusted eps (fy2026) ~C$0.97 / ~C$1.20, adjusted backlog ~C$19 billion (~C$10.8B Defence, ~C$8.4B Civil), market capitalization ~C$11.6 billion; TRU shows revenue (ttm) ~$4.7B, fy2025 revenue ~$4.58B (up ~9%), 2026 revenue guidance ~$5.1B-$5.14B, adjusted ebitda margin ~35%.

CAE and TRU are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CAE and TRU exposure against your real portfolio. It is not an investment adviser.