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 28,507 - -
Change - -9.29% -12.27% -36.13% 0.44% -6.63% - -
Enterprise Value (EV) 1 89,277 86,023 81,998 70,696 70,765 69,829 68,334 67,088
Change - -3.65% -4.68% -13.78% 0.1% -1.32% -2.14% -1.82%
P/E 22x 20x 22.9x 185x 4.82x 11.7x 11.6x 10.7x
PBR 2.64x 2.45x 2.35x 1.78x 1.33x 1.38x 1.31x 1.24x
PEG - -59.8x -1x -2x 0x -0.2x 11.63x 1.35x
Capitalization / Revenue 2.55x 2.24x 1.93x 1.25x 1.25x 1.14x 1.12x 1.1x
EV / Revenue 3.81x 3.56x 3.32x 2.9x 2.89x 2.8x 2.69x 2.6x
EV / EBITDA 9.02x 8.43x 7.87x 6.68x 6.64x 6.46x 6.18x 5.92x
EV / EBIT 16.9x 15.7x 14.9x 12.7x 13.1x 13.1x 12.5x 11.8x
EV / FCF 29.8x 28x 26.1x 24.5x 22.3x 32.1x 19.4x 11.8x
FCF Yield 3.35% 3.57% 3.83% 4.09% 4.49% 3.11% 5.15% 8.51%
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% 5.72% 5.76% 5.82%
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 30.57 30.57 30.57
Nbr of stocks (in thousands) 9,08,850 9,11,955 9,12,274 9,12,283 9,32,526 9,32,526 - -
Announcement Date 03/02/22 02/02/23 08/02/24 06/02/25 05/02/26 - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
11.71x2.8x6.46x5.72% 2.03TCr
11.5x1.33x4.14x6.97% 23TCr
9.09x2.38x6.36x6.48% 18TCr
13.69x2.13x5.55x4.17% 15TCr
13.26x2.02x5.1x2.42% 7.83TCr
12.38x0.86x3.21x6.51% 7.99TCr
12.03x1.75x7.5x3.57% 7.57TCr
15.46x2.69x8.42x5.09% 5.76TCr
23.68x5.34x19.49x4.52% 5.56TCr
16.02x1.79x5.61x4.79% 4.99TCr
Average 13.88x 2.31x 7.18x 5.02% 9.74TCr
Weighted average by Cap. 12.80x 2.06x 6.28x 5.4%

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