Company Valuation: BCE Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 59,811 54,252 47,593 30,397 30,531 27,892 - -
Change - -9.29% -12.27% -36.13% 0.44% -8.64% - -
Enterprise Value (EV) 1 89,277 86,023 81,998 70,696 70,765 69,213 67,718 66,472
Change - -3.65% -4.68% -13.78% 0.1% -2.19% -2.16% -1.84%
P/E 22x 20x 22.9x 185x 4.82x 11.5x 11.4x 10.6x
PBR 2.64x 2.45x 2.35x 1.78x 1.33x 1.36x 1.29x 1.22x
PEG - -59.8x -1x -2x 0x -0.2x 11.43x 1.33x
Capitalization / Revenue 2.55x 2.24x 1.93x 1.25x 1.25x 1.12x 1.1x 1.08x
EV / Revenue 3.81x 3.56x 3.32x 2.9x 2.89x 2.77x 2.67x 2.57x
EV / EBITDA 9.02x 8.43x 7.87x 6.68x 6.64x 6.4x 6.13x 5.87x
EV / EBIT 16.9x 15.7x 14.9x 12.7x 13.1x 13x 12.4x 11.7x
EV / FCF 29.8x 28x 26.1x 24.5x 22.3x 31.8x 19.2x 11.6x
FCF Yield 3.35% 3.57% 3.83% 4.09% 4.49% 3.14% 5.2% 8.59%
Dividend per Share 2 3.5 3.68 3.87 3.99 2.31 1.75 1.761 1.78
Rate of return 5.32% 6.19% 7.42% 12% 7.06% 5.82% 5.86% 5.92%
EPS 2 2.99 2.98 2.28 0.18 6.79 2.61 2.636 2.845
Distribution rate 117% 123% 170% 2,217% 34% 67.1% 66.8% 62.6%
Net sales 1 23,449 24,174 24,673 24,409 24,468 24,961 25,372 25,829
EBITDA 1 9,893 10,199 10,417 10,589 10,658 10,807 11,049 11,331
EBIT 1 5,284 5,476 5,499 5,548 5,420 5,319 5,448 5,665
Net income 1 2,709 2,716 2,076 163 6,305 2,520 2,481 2,648
Net Debt 1 29,466 31,771 34,405 40,299 40,234 41,321 39,826 38,581
Reference price 2 65.81 59.49 52.17 33.32 32.74 30.08 30.08 30.08
Nbr of stocks (in thousands) 908,850 911,955 912,274 912,283 932,526 932,526 - -
Announcement Date 2/3/22 2/2/23 2/8/24 2/6/25 2/5/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.46x2.77x6.4x5.85% 19.79B
11.59x1.34x4.17x6.92% 228B
9.16x2.39x6.38x6.44% 183B
12.97x2.1x5.45x4.32% 143B
13.11x2.03x5.15x2.42% 77.98B
12.18x0.83x3.09x6.62% 77.43B
11.92x1.75x7.47x3.61% 74.41B
15.43x2.68x8.41x5.09% 57.5B
24x5.4x19.73x4.46% 56.31B
15.87x1.78x5.59x4.83% 49.24B
Average 13.77x 2.31x 7.18x 5.06% 96.66B
Weighted average by Cap. 12.69x 2.06x 6.30x 5.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield