BCE Inc. (BCE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
No significant weaknesses identified
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BCE Inc. (BCE) stock price & volume — 10-year historical chart
BCE Inc. (BCE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
BCE Inc. (BCE) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 5, 2026 | $0.49vs $0.45+8.9% | $4.7Bvs $4.8B-2.1% |
| Q4 2025 | Nov 6, 2025 | $0.57vs $0.52+9.6% | $4.3Bvs $6.5B-33.8% |
| Q3 2025 | Aug 7, 2025 | $0.46vs $0.52-11.5% | $4.5Bvs $5.9B-24.6% |
| Q2 2025 | May 8, 2025 | $0.48vs $0.44+9.1% | $4.2Bvs $5.9B-29.8% |
BCE Inc. (BCE) competitors in Integrated Telecom and Media Groups — business model, growth, and fundamentals comparison
BCE Inc. (BCE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BCE Inc. (BCE) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 22.72B | 23.47B | 18.35B | 22.88B | 23.45B | 24.17B | 24.67B | 24.41B | 24.45B |
| Revenue Growth % | 4.6% | 3.3% | -21.82% | 24.72% | 2.47% | 3.09% | 2.06% | -1.07% | 0.16% |
| Cost of Revenue | 13.15B | 13.65B | 12.5B | 6.97B | 7.28B | 7.64B | 17.25B | 7.71B | 7.72B |
| Gross Profit | 9.57B▲ 0% | 9.82B▲ 2.6% | 5.85B▼ 40.4% | 15.92B▲ 171.9% | 16.16B▲ 1.6% | 16.53B▲ 2.3% | 7.42B▼ 55.1% | 16.7B▲ 125.0% | 16.75B▲ 0.3% |
| Gross Margin % | 42.13% | 41.84% | 31.9% | 69.55% | 68.94% | 68.39% | 30.09% | 68.43% | 68.5% |
| Gross Profit Growth % | -36.25% | 2.58% | -40.38% | 171.92% | 1.56% | 2.28% | -55.1% | 125.03% | 0.26% |
| Operating Expenses | 15.74B | 16.12B | 1.49B | 15.92B | 10.88B | 11.06B | 1.92B | 11.16B | 11.33B |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - |
| EBITDA | 9.28B | 9.54B | 7.72B | 8.82B | 9.89B | 10.2B | 10.42B | 10.59B | 10.65B |
| EBITDA Margin % | 40.86% | 40.63% | 42.05% | 38.57% | 42.19% | 42.19% | 42.22% | 43.38% | 43.58% |
| EBITDA Growth % | 5.62% | 2.73% | -19.07% | 14.37% | 12.1% | 3.09% | 2.14% | 1.65% | 0.61% |
| Depreciation & Amortization | 3.84B | 4.01B | 3.35B | 4.4B | 4.61B | 4.72B | 4.92B | 5.04B | 5.23B |
| D&A / Revenue % | 16.92% | 17.1% | 18.26% | 19.25% | 19.66% | 19.54% | 19.93% | 20.65% | 21.41% |
| Operating Income (EBIT) | 5.44B▲ 0% | 5.52B▲ 1.5% | 4.37B▼ 20.9% | 0▼ 100.0% | 5.28B▲ 0% | 5.48B▲ 3.6% | 5.5B▲ 0.4% | 5.55B▲ 0.9% | 5.42B▼ 2.3% |
| Operating Margin % | 23.94% | 23.53% | 23.8% | 0% | 22.53% | 22.65% | 22.29% | 22.73% | 22.17% |
| Operating Income Growth % | 2.99% | 1.53% | -20.91% | -100% | - | 3.63% | 0.42% | 0.89% | -2.31% |
| Interest Expense | 1.03B | 1.07B | 1.2B | 1.16B | 1.11B | 1.15B | 1.52B | 1.75B | 1.77B |
| Interest Coverage | 5.01x | 4.71x | 3.58x | 3.82x | 4.54x | 4.40x | 3.19x | 1.55x | 5.35x |
| Interest / Revenue % | 4.52% | 4.56% | 6.51% | 5.05% | 4.75% | 4.74% | 6.14% | 7.15% | 7.25% |
| Non-Operating Income | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | 1000K |
| Pretax Income | 4.12B▲ 0% | 3.97B▼ 3.7% | 3.36B▼ 15.4% | 3.27B▼ 2.7% | 3.94B▲ 20.6% | 3.89B▼ 1.1% | 3.32B▼ 14.6% | 952M▼ 71.4% | 7.7B▲ 708.9% |
| Pretax Margin % | 18.13% | 16.91% | 18.3% | 14.27% | 16.79% | 16.1% | 13.47% | 3.9% | 31.5% |
| Income Tax | 1.07B | 995M | 870.64M | 792M | 1.04B | 967M | 996M | 577M | 1.19B |
| Effective Tax Rate % | 25.95% | 25.08% | 25.94% | 24.26% | 26.52% | 24.84% | 29.97% | 60.61% | 15.48% |
| Net Income | 2.99B▲ 0% | 2.93B▼ 2.2% | 2.46B▼ 16.0% | 2.63B▲ 7.0% | 2.84B▲ 7.8% | 2.87B▲ 1.0% | 2.26B▼ 21.1% | 344M▼ 84.8% | 6.3B▲ 1731.4% |
| Net Margin % | 13.18% | 12.48% | 13.41% | 11.51% | 12.11% | 11.86% | 9.17% | 1.41% | 25.77% |
| Net Income Growth % | -1.22% | -2.17% | -15.99% | 7.04% | 7.82% | 0.99% | -21.09% | -84.8% | 1731.36% |
| EPS (Diluted) | 3.20▲ 0% | 3.26▲ 1.9% | 3.37▲ 3.4% | 2.53▼ 24.9% | 2.99▲ 18.2% | 2.98▼ 0.3% | 2.28▼ 23.5% | 0.18▼ 92.1% | 6.78▲ 3666.7% |
| EPS Growth % | -3.9% | 1.88% | 3.37% | -24.93% | 18.18% | -0.33% | -23.49% | -92.11% | 3666.67% |
| EPS (Basic) | 3.20 | 3.26 | 3.37 | 2.53 | 2.99 | 2.98 | 2.28 | 0.18 | 6.78 |
| Diluted Shares Outstanding | 894.9M | 898.9M | 901.4M | 904.4M | 906.7M | 912M | 912.2M | 912.3M | 928.57M |
BCE Inc. (BCE) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 55.8B | 57.1B | 46.38B | 47.62B | 66.76B | 69.33B | 71.94B | 73.48B | 80.08B |
| Asset Growth % | 11.36% | 2.33% | -18.77% | 2.66% | 40.21% | 3.84% | 3.77% | 2.15% | 8.97% |
| PP&E (Net) | 24.03B | 24.84B | 21.31B | 21.6B | 28.23B | 29.26B | 30.35B | 30B | 33.78B |
| PP&E / Total Assets % | 43.07% | 43.51% | 45.95% | 45.35% | 42.29% | 42.2% | 42.19% | 40.83% | 42.18% |
| Total Current Assets | 5.66B | 5.79B | 3.94B | 4.15B | 6.2B | 6.49B | 7.9B | 8.92B | 7.41B |
| Cash & Equivalents | 625M | 425M | 111.82M | 175.82M | 289M | 149M | 772M | 1.57B | 320M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Inventory | 380M | 432M | 329.28M | 344.58M | 482M | 656M | 465M | 420M | 389M |
| Other Current Assets | 472M | 699M | 146.52M | 156.2M | 810M | 864M | 957M | 1.31B | 1.27B |
| Long-Term Investments | 917M | 908M | 1.42B | 1.51B | 851M | 823M | 910M | 1.22B | 396M |
| Goodwill | 10.43B | 10.66B | 8.23B | 8.32B | 10.57B | 10.91B | 10.94B | 10.26B | 13.11B |
| Intangible Assets | 13.3B | 13.21B | 10.3B | 10.28B | 15.57B | 16.18B | 16.61B | 16.79B | 17.15B |
| Other Assets | 1.37B | 1.58B | 1.12B | 1.67B | 5.23B | 5.59B | 5.13B | 6.16B | 8.23B |
| Total Liabilities | 35.18B | 36.41B | 29.87B | 30.88B | 43.82B | 46.81B | 51.38B | 56.13B | 56.87B |
| Total Debt | 20.3B | 24.41B | 20.28B | 20.66B | 29.67B | 31.92B | 36.18B | 38.31B | 41.06B |
| Net Debt | 19.68B | 23.98B | 20.17B | 20.49B | 29.38B | 31.77B | 35.41B | 36.74B | 40.74B |
| Long-Term Debt | 18.21B | 19.76B | 14.34B | 15.94B | 27.05B | 27.78B | 31.14B | 32.84B | 34.9B |
| Short-Term Borrowings | 1.62B | 1.02B | 2.99B | 1.9B | 1.76B | 3.21B | 3.97B | 4.39B | 6.16B |
| Capital Lease Obligations | 472M | 466M | 2.95B | 2.83B | 864M | 930M | 1.07B | 1.09B | 3.18B |
| Total Current Liabilities | 10.79B | 10.43B | 7.54B | 6.49B | 9.11B | 11.47B | 12.11B | 14.85B | 12.86B |
| Accounts Payable | 2.45B | 2.54B | 2.01B | 2.04B | 2.93B | 3.6B | 3.31B | 2.96B | 2.82B |
| Accrued Expenses | 168M | 196M | 481.2M | 482.73M | 247M | 281M | 332M | 392M | 435M |
| Deferred Revenue | 693M | 703M | 526.7M | 562.79M | 799M | 857M | 811M | 774M | 373.69M |
| Other Current Liabilities | 3.86B | 3.78B | 1.3B | 1.34B | 906M | 904M | 660M | 3.42B | 1.6B |
| Deferred Taxes | 1000K | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Liabilities | 3.19B | 6.03B | 2.14B | 2.44B | 2.74B | 2.38B | 3B | 2.85B | 2.61B |
| Total Equity | 19.48B▲ 0% | 20.69B▲ 6.2% | 16.51B▼ 20.2% | 16.74B▲ 1.4% | 22.94B▲ 37.0% | 22.52B▼ 1.9% | 20.56B▼ 8.7% | 17.36B▼ 15.6% | 23.21B▲ 33.7% |
| Equity Growth % | 9.12% | 6.19% | -20.2% | 1.41% | 37.03% | -1.86% | -8.7% | -15.55% | 33.68% |
| Shareholders Equity | 19.16B | 20.36B | 16.25B | 16.47B | 22.64B | 22.18B | 20.23B | 17.07B | 22.92B |
| Minority Interest | 323M | 326M | 257.57M | 266.88M | 306M | 337M | 328M | 289M | 290M |
| Common Stock | 20.09B | 20.04B | 15.7B | 16B | 20.66B | 20.84B | 20.86B | 20.86B | 21.49B |
| Additional Paid-in Capital | 1.16B | 1.17B | 908.42M | 921.51M | 1.16B | 1.17B | 1.26B | 1.28B | 1.31B |
| Retained Earnings | -4.94B | -4.94B | -3.57B | -3.67B | -3.4B | -3.65B | -5.51B | -8.44B | -3.67B |
| Accumulated OCI | -17M | 90M | 124.16M | 80.85M | 213M | -55M | -42M | -159M | 503M |
| Return on Assets (ROA) | 5.65% | 5.19% | 4.76% | 5.6% | 4.97% | 4.21% | 3.2% | 0.47% | 8.21% |
| Return on Equity (ROE) | 16.04% | 14.58% | 13.23% | 15.84% | 14.31% | 12.62% | 10.51% | 1.81% | 31.06% |
| Debt / Equity | 1.04x | 1.18x | 1.23x | 1.23x | 1.29x | 1.42x | 1.76x | 2.21x | 1.77x |
| Debt / Assets | 36.39% | 42.74% | 43.72% | 43.39% | 44.44% | 46.04% | 50.29% | 52.14% | 51.27% |
| Net Debt / EBITDA | 2.12x | 2.51x | 2.61x | 2.32x | 2.97x | 3.12x | 3.40x | 3.47x | 3.82x |
| Book Value per Share | 21.77 | 23.02 | 18.31 | 18.51 | 25.3 | 24.69 | 22.54 | 19.03 | 24.99 |
BCE Inc. (BCE) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | 7.36B | 7.38B | 7.96B | 7.75B | 8.01B | 6.17B | 7.95B | 6.99B | 6.99B |
| Operating CF Growth % | 10.76% | 0.35% | 7.77% | -2.56% | 3.28% | -22.94% | 28.77% | -12.06% | 0.07% |
| Operating CF / Revenue % | 32.39% | 31.46% | 43.37% | 33.89% | 34.15% | 25.53% | 32.21% | 28.63% | 28.6% |
| Net Income | 2.99B | 2.93B | 3.22B | 2.47B | 2.84B | 2.12B | 2.33B | 375M | 6.46B |
| Depreciation & Amortization | 3.84B | 4.01B | 4.34B | 4.4B | 4.61B | 3.48B | 4.92B | 5.04B | 5.24B |
| Deferred Taxes | 1.04B | 995M | 1.13B | 792M | 1.04B | 138.69M | 996M | 577M | 0 |
| Other Non-Cash Items | -895M | -935M | -691M | -388M | -770M | 161.56M | -138M | 1.53B | -4.05B |
| Working Capital Changes | 376M | 381M | -48M | 473M | 285M | 270.74M | -157M | -534M | -657M |
| Capital Expenditures | -4.03B | -4.03B | -3.97B | -4.29B | -6.92B | -3.79B | -4.76B | -4.43B | -3.7B |
| CapEx / Revenue % | 17.76% | 17.16% | 21.66% | 18.74% | 29.51% | 15.67% | 19.31% | 18.14% | 15.13% |
| CapEx / D&A | 1.05x | 1.00x | 0.91x | 0.97x | 1.50x | 1.09x | 0.97x | 0.88x | 0.71x |
| CapEx Coverage (OCF/CapEx) | 1.82x | 1.83x | 2.00x | 1.81x | 1.16x | 1.63x | 1.67x | 1.58x | 1.89x |
| Cash from Investing | -5.44B | -4.39B | -4.04B | -3.54B | -7B | -4.07B | -5.78B | -4.44B | -3.6B |
| Acquisitions | -1.65B | -395M | -51M | -65M | -12M | -278.11M | -13M | -624M | -4.99B |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 240M | 36M | -11M | 813M | -72M | -2.95M | -1B | 614M | 5.09B |
| Cash from Financing | -2.15B | -3.2B | -4.2B | -4.13B | -1.02B | -2.2B | -1.54B | -1.75B | -4.65B |
| Dividends Paid | -2.64B | -2.83B | -2.97B | -3.11B | -3.26B | -2.54B | -3.67B | -3.8B | -2.18B |
| Dividend Payout Ratio % | 83.9% | 91.46% | 114.56% | 112.95% | 110.28% | 85.19% | 154.04% | 1050.29% | 34.56% |
| Debt Issuance (Net) | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K |
| Stock Issued | 117M | 11M | 240M | 26M | 261M | 126.15M | 18M | 0 | 0 |
| Share Repurchases | 0 | -175M | 0 | 0 | 0 | -280.33M | 0 | -235M | -216M |
| Other Financing | -318M | -366M | -136M | -416M | -611M | 464.75M | -443M | -191M | -422M |
| Net Change in Cash | -228M▲ 0% | -200M▲ 12.3% | -280M▼ 40.0% | 79M▲ 128.2% | -17M▼ 121.5% | -118.57M▼ 597.4% | 623M▲ 625.4% | 800M▲ 28.4% | -1.25B▼ 256.5% |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | -15.29M | 0 | 0 | 1M |
| Cash at Beginning | 853M | 625M | 425M | 145M | 224M | 228.48M | 149M | 772M | 1.57B |
| Cash at End | 625M | 425M | 145M | 224M | 207M | 109.92M | 772M | 1.57B | 320M |
| Free Cash Flow | 3.32B▲ 0% | 3.36B▲ 1.0% | 3.98B▲ 18.7% | 3.47B▼ 13.0% | 1.09B▼ 68.6% | 2.38B▲ 118.9% | 3.18B▲ 33.5% | 2.56B▼ 19.5% | 3.29B▲ 28.6% |
| FCF Growth % | 15.74% | 0.99% | 18.68% | -13% | -68.58% | 118.94% | 33.46% | -19.55% | 28.63% |
| FCF Margin % | 14.63% | 14.3% | 21.71% | 15.15% | 4.64% | 9.86% | 12.9% | 10.49% | 13.47% |
| FCF / Net Income % | 111.02% | 114.61% | 161.9% | 131.59% | 38.35% | 83.13% | 140.61% | 744.19% | 52.27% |
BCE Inc. (BCE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | 17.23% | 16.04% | 14.58% | 13.23% | 15.84% | 14.31% | 12.62% | 10.51% | 1.81% | 31.06% |
| EBITDA Margin | 40.46% | 40.86% | 40.63% | 42.05% | 38.57% | 42.19% | 42.19% | 42.22% | 43.38% | 43.58% |
| Net Debt / EBITDA | 2.34x | 2.12x | 2.51x | 2.61x | 2.32x | 2.97x | 3.12x | 3.40x | 3.47x | 3.82x |
| Interest Coverage | 5.33x | 5.01x | 4.71x | 3.58x | 3.82x | 4.54x | 4.40x | 3.19x | 1.55x | 5.35x |
| CapEx / Revenue | 17.36% | 17.76% | 17.16% | 21.66% | 18.74% | 29.51% | 15.67% | 19.31% | 18.14% | 15.13% |
| Dividend Payout Ratio | 76.05% | 83.9% | 91.46% | 114.56% | 112.95% | 110.28% | 85.19% | 154.04% | 1050.29% | 34.56% |
| Debt / Equity | 1.20x | 1.04x | 1.18x | 1.23x | 1.23x | 1.29x | 1.42x | 1.76x | 2.21x | 1.77x |
| EPS Growth | 11.74% | -3.9% | 1.88% | 3.37% | -24.93% | 18.18% | -0.33% | -23.49% | -92.11% | 3666.67% |
BCE Inc. (BCE) stock FAQ — growth, dividends, profitability & financials explained
BCE Inc. (BCE) reported $24.45B in revenue for fiscal year 2025. This represents a 13% decrease from $28.17B in 1996.
BCE Inc. (BCE) grew revenue by 0.2% over the past year. Growth has been modest.
Yes, BCE Inc. (BCE) is profitable, generating $6.30B in net income for fiscal year 2025 (25.8% net margin).
Yes, BCE Inc. (BCE) pays a dividend with a yield of 7.12%. This makes it attractive for income-focused investors.
BCE Inc. (BCE) has a return on equity (ROE) of 31.1%. This is excellent, indicating efficient use of shareholder capital.
BCE Inc. (BCE) generated $3.03B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
BCE Inc. (BCE) has a dividend payout ratio of 35%. This suggests the dividend is well-covered and sustainable.
BCE Inc. (BCE) financial analysis — history, returns, DCA and operating performance tools
Analyst verdict, bull/bear case, risk factors and peer comparison
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates