BCE
Connects Canadian consumers and businesses through Bell networks, services, and media.
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Profile
Sells wireless, fibre Internet, television, enterprise communications, and media services, with revenue concentrated in Canadian connectivity. Three segments pair Bell CTS Canada and Bell Media with a newer U.S. fibre operation, while network investment and Canadian communications regulation shape the business.
Sells wireless service and devices, fibre Internet, television, legacy voice, wholesale connectivity, and enterprise communications through Bell CTS Canada. Bell CTS U.S. extends fibre and wireline service into the Pacific Northwest through Ziply Fiber.
Operates Bell Media across broadcast and streaming video, audio, digital media, and out-of-home advertising. The network-and-content model combines connectivity distribution with owned programming and advertising inventory, while fibre and wireless investment supports the core service portfolio.
Revenue remains concentrated in Canadian connectivity, with the U.S. fibre operation still a smaller foothold. Results depend on network execution, changing legacy phone and news economics, and Canadian communications rules covering broadcasting, wholesale access, ownership, and local-service obligations.
Company facts
Categories
Key statistics
Year to date −0.9% · Average volume (30d) 3.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 11, 2026 | Bank of America Securities | Upgrade | Buy | |||
| Aug 11, 2026 | B of A Securities | Upgrade | Underperform | Buy | ||
| Jul 16, 2026 | Barclays | Reiterate | Equal Weight | $26 | $25 | |
| Jul 15, 2026 | Raymond James | Initiate | Market Perform | |||
| Jul 8, 2026 | UBS | Initiate | Buy |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | $0.46 | $0.47 | +2.2% | $4.35B | $4.35B | −0.1% | +3.22% |
| May 7, 2026Q1 FY26 | $0.42 | $0.46 | +9.5% | $4.38B | $4.43B | +1.3% | −1.75% |
| Feb 5, 2026Q4 FY25 | $0.45 | $0.49 | +8.9% | $4.76B | $4.66B | −2.1% | −1.92% |
| Nov 6, 2025Q3 FY25 | $0.52 | $0.57 | +9.6% | $6.55B | $4.34B | −33.8% | +0.09% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $4.27B | $4.38B | $4.35B | $4.59B | $4.45B | $4.44B | |
| Gross profit | $2.91B | $3.00B | $3.08B | −$1.26B | $1.34B | $1.37B | |
| Operating income | $925.1M | $997.7M | $1.05B | $4.76B | $919.5M | $954.3M | |
| Net income | $482.7M | $445.3M | $3.27B | $338.0M | $470.9M | $429.6M | |
| Diluted EPS | $0.49 | $0.45 | $3.47 | $0.47 | $0.47 | $0.43 | |
| Gross margin | 68.1% | 68.6% | 70.8% | -27.5% | 30.0% | 30.9% | |
| Operating margin | 21.7% | 22.8% | 24.0% | 103.6% | 20.7% | 21.5% |
Fiscal years (4-quarter sums)FY21 $16.86B · FY22 $14.40B · FY23 $15.54B · FY24 $17.56B · FY25 $17.59B
Balance sheet, Jun 30, 2026Cash & short-term investments $344.7M · Total debt $30.06B · Total assets $58.32B · Shareholders' equity $17.17B
Dividends
Last cut to $0.3129 from $0.3197 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jul 15 | $0.3129 | cut from $0.3197 |
| Mar 16, 2026 | Mar 16 | Apr 15 | $0.3197 | raised from $0.3176 |
| Dec 15, 2025 | Dec 15 | Jan 15 | $0.3176 | raised from $0.3171 |
| Sep 15, 2025 | Sep 15 | Oct 15 | $0.3171 | cut from $0.3227 |
| Jun 16, 2025 | Jun 16 | Jul 15 | $0.3227 | cut from $0.6937 |
| Mar 14, 2025 | Mar 14 | Apr 15 | $0.6937 | cut from $0.7011 |
| Dec 16, 2024 | Dec 16 | Jan 15 | $0.7011 | cut from $0.7335 |
| Sep 16, 2024 | Sep 16 | Oct 15 | $0.7335 | raised from $0.7254 |
Ownership
Shares outstanding 932.53M · Float 931.43M · 99.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Royal Bank of Canada | 64.05M | 6.87% | 13F | Aug 14, 2026 |
| Bank of Montreal /Can/ | 39.62M | 4.25% | 13F | Aug 12, 2026 |
| FIL Ltd | 38.66M | 4.15% | 13F | Aug 13, 2026 |
| Caisse de Depot et Placement du Quebec | 34.11M | 3.66% | 13F | Aug 14, 2026 |
| National Bank of Canada /FI/ | 23.17M | 2.48% | 13F | Aug 10, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Rogers Communications
Broad rival across Canadian wireless, Internet, TV, and media
- TELUS
National rival in mobile, fibre Internet, TV, and business connectivity
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BCE | $23.26 | −0.81% | $21.88B | 4.8 | 13.9 | 1.2 | −2.7% |
| Rogers Communications | $36.69 | +0.25% | $19.77B | 4.3 | 14.7 | 1.2 | +3.3% |
| TELUS | $9.75 | +0.72% | $15.10B | — | 25.6 | 1.0 | −6.0% |
| Median | 4.3 | 20.1 | 1.1 | −1.4% |