Last 47 quarters of trend data · Communication Services · Telecommunications Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
BCE Inc.'s quarterly P/E stands at 9.2x, down 19.4% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 64.6% YoY to 2.0x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 4.95 | 9.16 | 1.21 | 8.94 | 8.44 | 11.36 | — | 13.72 | 19.31 | 23.44 | 13.63 | 31.66 | 14.17 |
| — | -19.4% | — | -34.8% | -56.3% | -51.5% | — | -56.7% | +36.2% | +23.7% | +1.4% | +67.4% | -1.9% | |
| P/S Ratio | 1.28 | 0.87 | 0.90 | 0.85 | 0.89 | 0.82 | 1.33 | 1.23 | 1.29 | 1.39 | 1.43 | 2.27 | 2.28 |
| — | +5.2% | -32.2% | -31.0% | -30.9% | -40.7% | -7.2% | -45.9% | -43.5% | -10.9% | -34.8% | -7.8% | -15.5% | |
| P/B Ratio | 1.34 | 0.95 | 0.96 | 1.12 | 1.20 | 1.22 | 1.77 | 1.48 | 1.52 | 1.75 | 1.63 | 1.94 | 1.84 |
| — | -21.8% | -45.7% | -23.9% | -21.2% | -30.3% | +8.0% | -23.9% | -17.1% | -1.9% | -1.8% | +2.8% | -13.6% | |
| P/FCF | 9.51 | 22.66 | 5.35 | 4.36 | 9.03 | 8.32 | 9.07 | 40.58 | 80.76 | 37.79 | 14.75 | 11.39 | 68.10 |
| — | +172.3% | -41.1% | -89.3% | -88.8% | -78.0% | -38.5% | +256.2% | +18.6% | +16.3% | +4.2% | +40.0% | +308.2% | |
| EV / EBITDA | 6.76 | 1.97 | 5.64 | 5.39 | 5.79 | 5.56 | 6.43 | 6.25 | 6.60 | 6.95 | 6.71 | 9.40 | 9.85 |
| — | -64.6% | -12.2% | -13.7% | -12.2% | -20.0% | -4.3% | -33.6% | -33.0% | +40.8% | -27.2% | +1.4% | +1.2% | |
| EV / EBIT | 13.29 | 6.18 | 2.83 | 10.88 | 10.87 | 12.93 | — | 13.36 | 16.17 | 16.92 | 12.91 | 17.79 | 18.06 |
| — | -52.2% | — | -18.6% | -32.8% | -23.6% | — | -24.9% | -10.5% | +18.5% | -30.5% | -12.2% | +10.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
BCE Inc.'s operating margin was 103.6% in Q4 2025, up 79.6 pp QoQ and up 82.5 pp YoY. This marks the 5th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 43.0% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 142.7% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.5% | -27.5% | 70.8% | 68.6% | 68.1% | 64.4% | 70.9% | 69.9% | 29.6% | 64.6% | 69.7% | 31.2% | 29.5% |
| — | -142.7% | -0.2% | -1.9% | +130.5% | -0.3% | +1.8% | +124.0% | +0.4% | +52.4% | +123.2% | -1.7% | -8.6% | |
| Operating Margin | 22.2% | 103.6% | 24.0% | 22.8% | 21.7% | 21.1% | 24.5% | 23.8% | 21.7% | 20.3% | — | 23.3% | 22.1% |
| — | +391.0% | -2.0% | -4.1% | +0.0% | +3.9% | — | +2.0% | -1.8% | -46.6% | — | -1.9% | -9.8% | |
| Net Margin | 25.8% | 7.4% | 75.1% | 10.2% | 11.3% | 7.8% | -20.0% | 9.7% | 7.5% | 6.6% | 11.3% | 6.2% | 12.7% |
| — | -6.2% | +476.0% | +4.8% | +51.5% | +18.1% | -276.7% | +57.0% | -41.3% | -25.2% | -9.7% | -42.6% | -18.2% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 31.1% | 2.0% | 22.1% | 3.4% | 3.8% | 2.9% | -6.3% | 2.9% | 2.2% | 2.1% | 3.2% | 1.3% | 2.5% |
| — | -28.3% | +451.8% | +19.1% | +74.9% | +38.8% | -295.3% | +123.1% | -13.8% | -18.3% | +37.9% | -37.2% | -18.3% | |
| ROA | 8.2% | 0.6% | 6.1% | 0.9% | 0.9% | 0.7% | -1.6% | 0.8% | 0.6% | 0.6% | 1.0% | 0.4% | 0.8% |
| — | -14.1% | +473.9% | +8.8% | +48.3% | +14.1% | -265.8% | +96.5% | -24.1% | -27.2% | +22.6% | -44.2% | -24.6% | |
| ROIC | 6.9% | 7.8% | 1.8% | 1.9% | 1.8% | 1.8% | 1.9% | 1.9% | 1.7% | 1.8% | — | 1.5% | 1.4% |
| — | +323.2% | -4.6% | +0.5% | +1.6% | +4.1% | — | +28.4% | +27.8% | -48.0% | — | -4.1% | -16.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
BCE Inc.'s Debt/EBITDA ratio is 5.1x, down from 14.8x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.77 | 1.77 | 1.80 | 2.04 | 2.22 | 2.21 | 2.23 | 1.97 | 1.85 | 1.76 | 1.63 | 1.60 | 1.52 |
| — | -19.8% | -19.2% | +3.5% | +20.3% | +25.4% | +36.9% | +23.3% | +21.8% | +24.1% | +19.0% | +25.6% | +20.5% | |
| Debt / EBITDA | 3.85 | 5.15 | 14.84 | 14.05 | 15.32 | 14.71 | 14.72 | 14.65 | 14.69 | 14.09 | 13.52 | 17.22 | 18.01 |
| — | -65.0% | +0.7% | -4.1% | +4.3% | +4.4% | +8.9% | -14.9% | -18.5% | +60.8% | -19.6% | +14.2% | +24.2% | |
| Current Ratio | 0.58 | 0.58 | 0.58 | 0.61 | 0.64 | 0.60 | 0.62 | 0.65 | 0.61 | 0.65 | 0.57 | 0.55 | 0.57 |
| — | -4.1% | -7.3% | -6.6% | +5.7% | -7.9% | +9.0% | +18.2% | +7.3% | +15.3% | -4.5% | -14.4% | -12.7% | |
| Quick Ratio | 0.55 | 0.55 | 0.55 | 0.57 | 0.61 | 0.57 | 0.60 | 0.62 | 0.57 | 0.61 | 0.52 | 0.50 | 0.51 |
| — | -4.7% | -8.3% | -8.2% | +6.1% | -6.7% | +15.1% | +24.3% | +11.5% | +20.8% | -4.7% | -14.8% | -12.4% | |
| Interest Coverage | 5.35 | 5.63 | 12.05 | 3.00 | 3.22 | 2.55 | -1.64 | 2.91 | 2.52 | 2.58 | 3.47 | 2.86 | 2.89 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorDCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare business quality, growth, and profitability against top sector peers.
Start ComparisonQuick answers to the most common questions about buying BCE stock.
BCE Inc.'s current P/E is 5.0x. The average P/E over the last 4 quarters is 6.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
BCE Inc.'s current operating margin is 22.2%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking BCE Inc.'s business trajectory between earnings reports.