BCE financial statements
The full income statement, balance sheet, and cash-flow statement for BCE Inc. (BCE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 17.5B-1.7% | 17.8B-2.6% | 18.3B-1.6% | 18.6B-0.7% | 18.7B+9.6% | |
| Cost of revenue | 5.53B-1.7% | 5.62B-4.3% | 5.87B+0.1% | 5.87B+1.0% | 5.81B+11.9% | |
| Research & development | 42.9M-10.8% | 48.1M-27.8% | 66.7M+52.3% | 43.8M-3.7% | 45.5M+29.7% | |
| Pre-tax income | 5.52B+694.3% | 694M-71.8% | 2.46B-17.7% | 2.99B-4.8% | 3.14B+29.0% | |
| Income tax | 854M+102.8% | 421M-43.0% | 738M-0.7% | 743M-10.8% | 833M+41.0% | |
| Net income | 4.66B+1604.2% | 274M-84.1% | 1.72B-23.3% | 2.25B-2.6% | 2.31B+14.6% | |
| $4.86+3600.9% | $0.13-92.2% | $1.69-26.2% | $2.29-4.0% | $2.39+15.9% | ||
| EPS (basic) | $4.86+3600.9% | $0.13-92.2% | $1.69-26.2% | $2.29-4.0% | $2.39+15.9% | |
| Weighted-avg shares (basic) | 929M+1.8% | 912M+0.0% | 912M+0.1% | 912M+0.6% | 906M+0.2% | |
| Weighted-avg shares (diluted) | 929M+1.8% | 912M+0.0% | 912M+0.0% | 912M+0.6% | 907M+0.3% | |
| Dividends per share | $1.65-43.2% | $2.91+1.5% | $2.87+1.4% | $2.83+1.2% | $2.79+12.4% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.41B-13.0% | 6.21B+4.2% | 5.97B+24.5% | 4.79B-1.5% | 4.86B+9.1% | ||
| Accounts receivable | 3.27B+4.5% | 3.13B+2.7% | 3.05B-0.4% | 3.06B-1.4% | 3.10B+12.1% | |
| Inventory | 284M-2.9% | 292M-16.7% | 351M-27.5% | 485M+28.1% | 378M+10.0% | |
| 58.5B+14.4% | 51.2B-5.8% | 54.3B+6.1% | 51.2B-2.3% | 52.4B+10.2% | ||
| Property, plant & equipment | — | — | — | 21.6B-2.5% | 22.2B+2.8% | |
| Goodwill | 9.66B+35.2% | 7.15B-13.5% | 8.27B+2.6% | 8.06B-2.9% | 8.30B-0.2% | |
| Total non-current assets | 53.1B+18.1% | 45.0B-7.1% | 48.4B+4.2% | 46.4B-2.3% | 47.5B+10.3% | |
| 9.39B-9.2% | 10.3B+13.0% | 9.15B+7.9% | 8.47B+18.5% | 7.15B+10.3% | ||
| Short-term & current debt | — | — | 2.45B+97.6% | 1.24B+59.7% | 777M+1.7% | |
| 41.5B+6.2% | 39.1B+0.7% | 38.8B+12.2% | 34.6B+0.5% | 34.4B+11.6% | ||
| Long-term debt | 25.5B+11.4% | 22.9B-2.8% | 23.5B+14.6% | 20.5B-3.3% | 21.2B+13.3% | |
| 16.8B+41.4% | 11.9B-22.2% | 15.3B-6.7% | 16.4B-7.8% | 17.8B+8.0% | ||
| Total equity incl. non-controlling | 17.0B+40.8% | 12.1B-22.1% | 15.5B-6.6% | 16.6B-7.6% | 18.0B+7.7% | |
| Shares outstanding (cover) | — | — | 912M+0.0% | 912M+0.3% | 909M+0.5% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 5.01B-1.8% | 5.10B-13.4% | 5.89B-8.4% | 6.43B+0.6% | 6.39B+10.5% | ||
| Depreciation & amortization | 3.75B+1.9% | 3.68B+0.9% | 3.64B+0.4% | 3.63B-1.3% | 3.68B+12.0% | |
| Intangible amortization | 986M+5.3% | 936M+7.7% | 869M+6.4% | 817M+4.2% | 784M+13.1% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt issued | 5.59B+99.8% | 2.80B-27.3% | 3.85B+156.8% | 1.50B-62.3% | 3.98B-11.2% | |
| Long-term debt repaid | 7.22B+199.8% | 2.41B+75.0% | 1.38B-11.4% | 1.55B-29.2% | 2.20B-41.2% | |
| Common stock issued | 0.00 | 0.00-100.0% | 13.3M-89.8% | 131M-36.9% | 208M+973.9% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 1.56B-43.8% | 2.77B+2.0% | 2.72B+2.6% | 2.65B+1.9% | 2.60B+12.1% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 22.1B+4.7% | 21.1B-41.1% | 35.9B-10.1% | 40.0B-15.5% | 47.3B+22.2% | |
| P/E | 4.7×-93.9% | 77.3×+383.8% | 16.0×-7.7% | 17.3×-15.5% | 20.5×+6.6% | |
| P/S | 1.3×+6.4% | 1.2×-38.6% | 1.9×-9.4% | 2.1×-15.5% | 2.5×+11.5% | |
| P/B | 1.3×-26.0% | 1.8×-18.8% | 2.2×-2.5% | 2.2×-15.5% | 2.7×+13.2% | |
| Earnings yield | 21.1%+1528.4% | 1.3%-79.3% | 6.3%+8.4% | 5.8%+18.4% | 4.9%-6.2% | |
| Dividend yield | 6.9%-44.7% | 12.6%+72.4% | 7.3%+13.2% | 6.4%+19.9% | 5.4%-7.5% | |
| Source filing | 40-F | 40-F | 40-F | 40-F | 40-F |
About this data
Source: BCE’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BCE filings on SEC EDGAR → Not investment advice.