(BCE) BCE - Overview
Wireless, Wireline, Internet, Streaming, Television
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 7.03% |
| Yield on Cost 5y | 5.44% |
| Yield CAGR 5y | -12.33% |
| Payout Consistency | 88.1% |
| Payout Ratio | 56.5% |
| Risk 5d forecast | |
|---|---|
| Volatility | 17.1% |
| Relative Tail Risk | -2.57% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.49 |
| Alpha | 10.05 |
| Character TTM | |
|---|---|
| Beta | -0.119 |
| Beta Downside | -0.314 |
| Drawdowns 3y | |
|---|---|
| Max DD | 48.71% |
| CAGR/Max DD | -0.26 |
Description: BCE BCE December 19, 2025
BCE Inc. (NYSE:BCE) is Canada’s largest integrated telecommunications provider, delivering wireless, wireline, internet, streaming, and TV services to residential, business, and wholesale customers. The company operates through two primary segments: Bell Communication and Technology Services, which covers mobile, broadband, cloud, and device offerings, and Bell Media, which owns a portfolio of video, audio, out-of-home advertising, and digital media assets. Founded in 1880 and headquartered in Verdun, Quebec, BCE is classified under the Integrated Telecommunication Services sub-industry.
Key metrics that shape BCE’s outlook include: (1) a 2023-24 adjusted EBITDA margin of roughly 38%, reflecting strong cash-flow generation in a capital-intensive sector; (2) a subscriber base of ~11.5 million wireless customers and ~3.5 million broadband connections, providing scale advantages and cross-sell opportunities; and (3) exposure to macro-drivers such as Canadian GDP growth, which historically correlates with enterprise IT spend and consumer discretionary spending on premium media services. The firm’s capital-intensive network upgrades (e.g., 5G rollout and fiber expansion) are funded largely by free cash flow, but require disciplined capex allocation to maintain its credit profile.
For a deeper quantitative assessment of BCE’s valuation relative to peers, you may find it useful to explore the analytical tools available on ValueRay.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: 6.33b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 0.46 > 1.0 |
| NWC/Revenue: -20.96% < 20% (prev -21.73%; Δ 0.76% < -1%) |
| CFO/TA 0.08 > 3% & CFO 6.26b > Net Income 6.33b |
| Net Debt (40.51b) to EBITDA (14.43b): 2.81 < 3 |
| Current Ratio: 0.58 > 1.5 & < 3 |
| Outstanding Shares: last quarter (932.5m) vs 12m ago 2.21% < -2% |
| Gross Margin: 67.92% > 18% (prev 0.59%; Δ 6734 % > 0.5%) |
| Asset Turnover: 32.37% > 50% (prev 33.64%; Δ -1.27% > 0%) |
| Interest Coverage Ratio: 5.29 > 6 (EBITDA TTM 14.43b / Interest Expense TTM 1.76b) |
Altman Z'' 0.57
| A: -0.07 (Total Current Assets 7.05b - Total Current Liabilities 12.18b) / Total Assets 78.58b |
| B: -0.05 (Retained Earnings -4.06b / Total Assets 78.58b) |
| C: 0.12 (EBIT TTM 9.31b / Avg Total Assets 75.65b) |
| D: 0.32 (Book Value of Equity 17.80b / Total Liabilities 55.83b) |
| Altman-Z'' Score: 0.57 = B |
Beneish M -3.08
| DSRI: 1.04 (Receivables 4.62b/4.44b, Revenue 24.49b/24.46b) |
| GMI: 0.87 (GM 67.92% / 58.83%) |
| AQI: 1.06 (AQ_t 0.49 / AQ_t-1 0.47) |
| SGI: 1.00 (Revenue 24.49b / 24.46b) |
| TATA: 0.00 (NI 6.33b - CFO 6.26b) / TA 78.58b) |
| Beneish M-Score: -3.08 (Cap -4..+1) = AA |
What is the price of BCE shares?
Over the past week, the price has changed by +3.10%, over one month by +8.08%, over three months by +8.64% and over the past year by +13.42%.
Is BCE a buy, sell or hold?
- StrongBuy: 1
- Buy: 3
- Hold: 8
- Sell: 4
- StrongSell: 1
What are the forecasts/targets for the BCE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 26.8 | 5.9% |
| Analysts Target Price | 26.8 | 5.9% |
| ValueRay Target Price | 26.7 | 5.5% |
BCE Fundamental Data Overview January 26, 2026
P/E Trailing = 5.2174
P/E Forward = 12.837
P/S = 0.9597
P/B = 1.6944
P/EG = 0.2331
Revenue TTM = 24.49b CAD
EBIT TTM = 9.31b CAD
EBITDA TTM = 14.43b CAD
Long Term Debt = 35.16b CAD (from longTermDebt, last quarter)
Short Term Debt = 5.82b CAD (from shortTermDebt, last quarter)
Debt = 40.98b CAD (from shortLongTermDebtTotal, last quarter)
Net Debt = 40.51b CAD (from netDebt column, last quarter)
Enterprise Value = 72.76b CAD (31.79b + Debt 40.98b - CCE 5.00m)
Interest Coverage Ratio = 5.29 (Ebit TTM 9.31b / Interest Expense TTM 1.76b)
EV/FCF = 21.25x (Enterprise Value 72.76b / FCF TTM 3.42b)
FCF Yield = 4.71% (FCF TTM 3.42b / Enterprise Value 72.76b)
FCF Margin = 13.98% (FCF TTM 3.42b / Revenue TTM 24.49b)
Net Margin = 25.87% (Net Income TTM 6.33b / Revenue TTM 24.49b)
Gross Margin = 67.92% ((Revenue TTM 24.49b - Cost of Revenue TTM 7.85b) / Revenue TTM)
Gross Margin QoQ = 70.82% (prev 68.58%)
Tobins Q-Ratio = 0.93 (Enterprise Value 72.76b / Total Assets 78.58b)
Interest Expense / Debt = 1.12% (Interest Expense 457.0m / Debt 40.98b)
Taxrate = 9.80% (495.0m / 5.05b)
NOPAT = 8.40b (EBIT 9.31b * (1 - 9.80%))
Current Ratio = 0.58 (Total Current Assets 7.05b / Total Current Liabilities 12.18b)
Debt / Equity = 1.82 (Debt 40.98b / totalStockholderEquity, last quarter 22.46b)
Debt / EBITDA = 2.81 (Net Debt 40.51b / EBITDA 14.43b)
Debt / FCF = 11.83 (Net Debt 40.51b / FCF TTM 3.42b)
Total Stockholder Equity = 18.73b (last 4 quarters mean from totalStockholderEquity)
RoA = 8.37% (Net Income 6.33b / Total Assets 78.58b)
RoE = 33.81% (Net Income TTM 6.33b / Total Stockholder Equity 18.73b)
RoCE = 17.29% (EBIT 9.31b / Capital Employed (Equity 18.73b + L.T.Debt 35.16b))
RoIC = 15.55% (NOPAT 8.40b / Invested Capital 54.03b)
WACC = 2.96% (E(31.79b)/V(72.76b) * Re(5.48%) + D(40.98b)/V(72.76b) * Rd(1.12%) * (1-Tc(0.10)))
Discount Rate = 5.48% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 81.65 | Cagr: 1.10%
[DCF Debug] Terminal Value 88.25% ; FCFF base≈3.19b ; Y1≈3.85b ; Y5≈6.25b
Fair Price DCF = 152.3 (EV 182.51b - Net Debt 40.51b = Equity 142.00b / Shares 932.5m; r=5.90% [WACC]; 5y FCF grow 22.26% → 2.90% )
EPS Correlation: -38.91 | EPS CAGR: 1.04% | SUE: 0.98 | # QB: 1
Revenue Correlation: 52.77 | Revenue CAGR: -0.69% | SUE: -0.02 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.58 | Chg30d=-0.010 | Revisions Net=-2 | Analysts=4
EPS next Year (2026-12-31): EPS=2.39 | Chg30d=-0.083 | Revisions Net=-2 | Growth EPS=-64.1% | Growth Revenue=+2.8%