BCE Inc. (BCE)
NEUTRALFundamental
69
Precio
$23.71
Capitalización Bursátil
$22.21B
Parte 1 · Cuánto vale la empresa
Resumen
BCE is Canada's largest communications company, operating under the Bell brand. It builds and runs the wireless, broadband internet, television and landline networks that connect most of the country, selling access to households, businesses and government agencies. Through Bell Media it also owns television channels such as CTV, radio stations and sports media rights. Its assets are physical: towers, fibre and copper lines, satellites and studios built up over decades, expensive and slow for a new entrant to replicate at national scale.
Cómo genera ingresos
Most revenue is recurring: subscribers pay monthly for wireless, internet, television and phone service under contracts, so a customer signed up this year keeps paying next year too. Bell Media adds advertising and subscription fees from its channels. Because the networks already exist, serving one more subscriber costs relatively little, but keeping fibre, 5G and satellite infrastructure current requires continuous heavy capital spending, funded largely from the steady cash that existing subscribers generate every month.
Ingresos por segmento
Wireless, internet, television and landline services sold to consumers and businesses across Canada, plus related equipment and device sales.
Television networks including CTV, radio stations, and the advertising and subscription revenue generated by Bell's media properties.
Qué impulsa la demanda
DefensivoCommunication services are close to a household necessity, so subscriber numbers move slowly regardless of the economic cycle, and long contracts create friction against switching providers. But growth is capped: nearly every Canadian household already has a phone and an internet connection, so gains must come from price increases, new services such as streaming bundles, or taking share from Rogers and Telus, not from a naturally expanding market.
Los argumentos a favor
Buyers argue that Bell's networks are costly and slow for a rival to duplicate, that most revenue is contractual and recurring, and that the dividend is supported by predictable cash flow from services households rarely cancel.
Los argumentos en contra
Sellers worry that a saturated, three-player Canadian market leaves little room to add subscribers, that price competition among Bell, Rogers and Telus pressures margins, and that heavy annual spending on fibre and wireless networks limits free cash flow even as the dividend payout stays high.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balance y Liquidez
Ingresos
$24.80B
Últimos 12 meses (hasta 30/6/2026)
Beneficio Neto
$6.42B
Últimos 12 meses (hasta 30/6/2026)
Flujo de Caja Libre
$2.60B
Patrimonio Neto Total
$14.99B
Pasivo Total
$41.78B
Ratio de Liquidez
0.73
Cobertura de Intereses
-
Deuda/EBITDA
4.80
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$83.74
Precio Actual
$23.71
Margen de Seguridad
+71.7%
Rango de Valor Justo
$54.43 - $113.05
Métodos de Estimación
Métricas de Valoración
Ratio P/E
4.88
ROE
30.5%
Ratio P/B
1.48
P/FCF
8.53
Margen Bruto
44.9%
ROIC
7.6%
Radar de Rentabilidad
Value Creation (Economic Moat)
ROIC
7.6%
WACC
3.4%
ROIC − WACC
+4.3 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Criterios de Análisis Fundamental
Superado (13)
- ROIC 7.6%
- Gross Margin 44.9%
- P/FCF 8.53
- P/B Ratio 1.48
- Debt/Equity ratio
- Positive Free Cash Flow
- Debt/EBITDA
- DCF valuation (Undervalued)
- ROE 27.7%
- Earnings Surprise avg 7.0%
- PEG Ratio 0.25
- Earnings Quality (OCF/NI) 1.08
- Net Margin Trend 25.8% vs 0.7%
Fallido (6)
- Price CAGR -5.83%
- CapEx intensity
- Current Ratio
- Revenue Growth 5Y 1.4%
- Analyst Consensus 48% Buy
- Piotroski F-Score 2/9
No disponible (8)
- EPS data insufficient
- Dividend Payout NaN%
- Operating Margin NaN%
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupaciones financieras graves
Calidad de los Beneficios
Alta calidad: beneficios respaldados por efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Mirko Bibic | CEO, President & Director | 57 |
| Mr. Curtis Millen | Executive VP & CFO | - |
| Mr. John Watson | Group President of Business Markets, AI & Ateko | 61 |
| Mr. Blaik Kirby | Group President of Consumer & Small Business | - |
| Mr. Sean H. Cohan | President of Bell Media | 49 |
| Mr. Mark McDonald | Executive VP & CTO | - |
| Ms. Hadeer Hassaan | Executive VP and Chief Information & Customer Experience Officer | - |
| Mr. Krishna Somers | Senior Vice President of Investor Relations | - |
| Mr. Robert Malcolmson | Executive VP and Chief Legal & Regulatory Officer | - |
| Ms. Karine Moses | Senior VP of Sales & Vice Chair of Québec | - |
Riesgo de Auditoría
4
Riesgo del Consejo
4
Riesgo de Compensación
2
Riesgo de Derechos del Accionista
7
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for BCE, sourced from Markets Gazette.
- 6/15/2026NEGATIVECanada’s BCE Cuts 1% of Jobs as It Focuses on AI, Network Build
BCE Inc., a major Canadian telecommunications firm, announced plans to cut approximately 1% of its workforce, impacting hundreds of employees. This move is part of a strategic shift to reduce operational costs and reallocate resources towards significant investments in its US-based internet infrastructure and artificial intelligence initiatives. While the company aims to streamline operations and position itself for future growth in AI and network development, the immediate impact involves job losses and potential short-term disruption. Investors will monitor the effectiveness of these strategic investments and their impact on future profitability.
- 5/7/2026POSITIVEBCE Beats on AI-Powered Business, Higher Revenue
BCE Inc. reported first-quarter results that surpassed analyst forecasts, driven by its strategic investments in artificial intelligence infrastructure. The company's AI-powered business initiatives have begun to yield significant returns, contributing to higher overall revenue. This performance indicates a successful pivot towards advanced technologies, positioning BCE for future growth and potentially enhancing its competitive edge in the telecommunications sector. Investors may view this as a strong indicator of management's foresight and execution capabilities.
via Markets Gazette