QualityDipStocks / Telecommunications · Telecommunications Equipment
BCE BCE
Outside our quality screen, so we don’t track its dips. It’s 22% below its 52-week high.
Outside our quality screen, trading well below our fair value estimate.
Worth knowing
- Lowest price in 5 years of weekly closes
- Dividend yield 8.6%, top 2% of the 1731 we measure
From the data on this page, as of the last close. How we pick these
- Fair value est.
- $40.12+94%
- Market Value
- —
- Off 52-wk high
- −22%
- Risk vs market
- Lowbeta −0.25
5 bullish · 4 bearish See why
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 3.0% ±2 points. Bear = 10.5% and 1.0%; bull = 8.5% and 5.0% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is below even the bear case.
What the price implies To be worth today’s price, BCE’s free cash flow would need to shrink about 9% a year for five years; our estimate uses 3%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much BCE moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Has moved mostly independently of the market, but its own price swings are 1.7× the S&P 500’s (it moves on its own news).
- Beta vs S&P 500
- -0.25
- Volatility
- 22% vs 13% SPY
- Correlation SPY
- −0.15
- Correlation QQQ
- −0.26
How it ranks
Where BCE stands vs every one of the 1,996 stocks we cover that has the number. Longer bar = better.
Top quarter on 3 of 4 measures
- Discount to fair value estimate94% · price below our base caseTop 10%of 1,314
- Free cash flow yield12% · free cash flow vs market capTop 6%of 1,391
- Dividends + buybacks yield9.4% · cash paid out or used to retire shares, vs market capTop 8%of 1,836
- Revenue growth, last 12 months+0.2% · vs the 12 months beforeLowest 13%of 1,814
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
DCF $40.12 · FCF value $69.61
Assumes 3.0% growth for 5 years (revenue grew 0.4% a year FY22–FY25; floored at 3%), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $2.53 a share (fiscal year to Dec 31, 2025, converted from CAD at 0.7143), from the 40-F filed Mar 6, 2026.
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 5 of 5
ValuationOur DCF fair value estimate is $40.12, 94% above the price.
ValuationFree-cash-flow yield of 12.2% (price / FCF 8.2×): $2.4B of free cash in the last 12 months.
ValuationP/E of 4.1× vs a 14.4× median for the 26 Telecommunications companies we cover.
Cash returnsDividend yield of 8.6% ($1.6B paid over 12 months, 35% of earnings).
ProfitabilityReturn on equity of 32% over the last 12 months, up 17 points in two years.
Top bearish points 4 of 5
GrowthSales grew only 0.4% a year from FY2022 to FY2025.
GrowthSales grew 0.2% over the last 12 months, below the 7.2% median for the 28 Telecommunications companies we cover.
QualityDoesn’t pass our quality screen: net debt 4.7× EBITDA (limit 3×).
RiskReports earnings Nov 5 (consensus EPS $0.49): results can move the price sharply and reset Market Value.
All fundamentals
P/E 4.1 · FCF yield 12.2% · ROE 32%
Valuation
- P/E
- 4.1×Telecommunications median 14.4×
- Price / FCF
- 8.2×
- FCF yield
- 12.2%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- 1.10×
- Price / book
- 1.17×
- Market cap
- $19.2Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- $17.5B
- Sales growth, 12 months
- +0.2%vs the 12 months before
- Sales growth, 3 yrs
- +0.4%/yrfrom FY2022
- Diluted EPS, 12 months
- $6.79
- EPS growth, last FY
- n/an/m: EPS a year ago near zero
- Net income, 12 months
- $4.7B
- Net income growth
- n/an/m: earnings a year ago near zero
Profitability
- Gross margin
- 68.4%
- Operating margin
- n/anot reported in its SEC filings
- Net margin
- 26.6%
- FCF margin
- 13.5%
- Return on equity
- 32%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- n/anot reported in its SEC filings
- Total debt
- $4.4B
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- 0.27×
- Interest coverage
- n/ainterest expense not tagged in SEC data
Cash flow & returns
- Free cash flow, 12 months
- $2.4B
- FCF growth, 12 months
- +7%
- Dividend yield
- 8.57%$1.6B paid
- Payout ratio
- 35%
- Buybacks, 12 months
- $154M0.8% of market cap
- Share count, 1 year
- n/ano quarterly diluted share count
- Stock-based comp
- n/anot reported in its SEC filings
Trailing 12 months to Dec 31, 2025; balance sheet at Dec 31, 2025. From BCE’s SEC filings, reported in CAD and converted to US dollars. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $2.6B · Sales +2%
- Free cash flow, 12 months$2.6B
- Free-cash-flow yield12.2%
- Free-cash-flow margin10%
- Gross margin45%
- Operating margin22%
- Return on invested capital8%
- Return on equity30%
- Sales growth (latest quarter vs year-ago quarter)+2%
- Net debt / EBITDA4.8×
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $20.67
- 52-wk lowlowest close, 1 year$18.78−9.1%
- PriceMon Nov 2 close$20.67you are here
- 52-wk highhighest close, 1 year$26.45+28.0%
- Fair value est.base case$40.12+94.1%
Momentum & 52-week range
RSI 53 · 5 days +2.1%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 5
- DateThu Nov 5, before the open
- Consensus EPS$0.49
- Year-ago EPS$0.57
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
BCE is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on BCE in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 1:01 PM ET.
Compare with peers
Closest in size in Telecommunications Equipment
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.