Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of BCE.
Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.41B | $24.67B | $24.17B | $23.45B | $22.88B | $23.96B | $23.47B | $22.72B | $21.72B | $21.51B |
| Cost of Revenue | $7.71B | $17.25B | $7.64B | $13.56B | $13.28B | $13.86B | $13.93B | $13.54B | $6.71B | $12.96B |
| Gross Profit | $16.70B | $7.42B | $16.53B | $9.89B | $9.61B | $10.11B | $9.54B | $9.18B | $15.01B | $8.55B |
| Gross Profit Ratio | 68.43% | 30.09% | 68.39% | 42.20% | 41.98% | 42.17% | 40.63% | 40.40% | 69.13% | 39.75% |
| Research and Development Expenses | $- | $90.00M | $57.00M | $57.00M | $47.00M | $109.00M | $106.00M | $119.00M | $147.00M | $134.00M |
| General and Administrative Expenses | $4.20B | $4.41B | $4.42B | $4.42B | $269.00M | $247.00M | $266.00M | $242.00M | $4.31B | $281.00M |
| Selling and Marketing Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $4.20B | $4.41B | $4.42B | $4.42B | $269.00M | $247.00M | $266.00M | $242.00M | $4.31B | $281.00M |
| Other Expenses | $12.51B | $- | $14.28B | $13.74B | $17.41B | $18.01B | $-348.00M | $-102.00M | $33.00M | $-12.00M |
| Operating Expenses | $16.70B | $1.92B | $18.70B | $18.16B | $17.68B | $18.26B | $17.95B | $17.39B | $9.73B | $16.38B |
| Cost and Expenses | $24.41B | $19.17B | $18.70B | $18.16B | $17.68B | $18.26B | $17.95B | $17.39B | $16.44B | $16.38B |
| Interest Income | $222.00M | $216.00M | $51.00M | $1.08B | $1.11B | $1.12B | $- | $- | $- | $- |
| Interest Expense | $1.75B | $1.52B | $1.15B | $1.10B | $1.16B | $1.20B | $1.07B | $1.03B | $969.00M | $1.02B |
| Depreciation and Amortization | $5.04B | $4.92B | $4.72B | $4.61B | $4.40B | $4.34B | $4.01B | $3.84B | $3.51B | $3.42B |
| EBITDA | $7.74B | $10.27B | $9.82B | $9.72B | $8.77B | $9.89B | $9.02B | $8.95B | $8.68B | $8.03B |
| EBITDA Ratio | 31.71% | 41.62% | 41.93% | 42.87% | 41.14% | 42.12% | 39.15% | 39.95% | 40.20% | 39.69% |
| Operating Income | $- | $5.50B | $5.41B | $5.44B | $5.01B | $5.70B | $5.52B | $5.33B | $5.28B | $5.13B |
| Operating Income Ratio | 0.00% | 22.29% | 22.39% | 23.22% | 21.89% | 23.76% | 23.53% | 23.45% | 24.31% | 23.85% |
| Total Other Income Expenses Net | $952.00M | $-2.18B | $-1.58B | $-1.35B | $-1.94B | $-1.31B | $-1.55B | $-1.32B | $-1.08B | $-1.48B |
| Income Before Tax | $952.00M | $3.32B | $3.89B | $3.94B | $3.27B | $4.39B | $3.97B | $4.01B | $4.20B | $3.65B |
| Income Before Tax Ratio | 3.90% | 13.47% | 16.10% | 16.79% | 14.27% | 18.30% | 16.91% | 17.65% | 19.32% | 16.98% |
| Income Tax Expense | $577.00M | $996.00M | $967.00M | $1.04B | $792.00M | $1.13B | $995.00M | $1.04B | $1.11B | $924.00M |
| Net Income | $344.00M | $2.26B | $2.87B | $2.84B | $2.63B | $3.19B | $2.93B | $2.91B | $3.03B | $2.68B |
| Net Income Ratio | 1.41% | 9.17% | 11.86% | 12.11% | 11.51% | 13.32% | 12.48% | 12.83% | 13.96% | 12.45% |
| EPS | $0.18 | $2.28 | $2.98 | $2.99 | $2.53 | $3.37 | $3.26 | $3.20 | $3.33 | $2.98 |
| EPS Diluted | $0.18 | $2.28 | $2.98 | $2.99 | $2.53 | $3.37 | $3.26 | $3.20 | $3.33 | $2.98 |
| Weighted Average Shares Outstanding | 912.30M | 912.20M | 911.50M | 906.30M | 904.30M | 900.80M | 898.60M | 894.30M | 869.10M | 847.10M |
| Weighted Average Shares Outstanding Diluted | 912.30M | 912.20M | 912.00M | 906.70M | 904.40M | 901.40M | 898.90M | 894.90M | 870.30M | 848.30M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $1.57B | $772.00M | $149.00M | $207.00M | $224.00M | $145.00M | $425.00M | $625.00M | $853.00M | $613.00M |
| Short Term Investments | $400.00M | $1.00B | $- | $- | $- | $- | $224.00M | $- | $- | $- |
| Cash and Short Term Investments | $1.97B | $1.77B | $149.00M | $207.00M | $224.00M | $145.00M | $425.00M | $625.00M | $853.00M | $613.00M |
| Net Receivables | $4.97B | $4.47B | $4.57B | $4.36B | $4.21B | $4.15B | $3.99B | $3.96B | $3.73B | $3.01B |
| Inventory | $420.00M | $465.00M | $656.00M | $482.00M | $439.00M | $427.00M | $432.00M | $380.00M | $403.00M | $416.00M |
| Other Current Assets | $1.56B | $1.19B | $1.11B | $1.06B | $810.00M | $799.00M | $943.00M | $821.00M | $777.00M | $770.00M |
| Total Current Assets | $8.92B | $7.90B | $6.49B | $6.20B | $5.69B | $5.52B | $5.79B | $4.64B | $4.86B | $4.81B |
| Property Plant Equipment Net | $30.00B | $30.35B | $29.26B | $28.23B | $27.51B | $27.64B | $24.84B | $24.03B | $22.35B | $21.63B |
| Goodwill | $10.26B | $10.94B | $10.91B | $10.57B | $10.60B | $10.67B | $10.66B | $10.43B | $8.96B | $8.38B |
| Intangible Assets | $16.79B | $16.61B | $16.18B | $15.57B | $13.10B | $13.35B | $13.21B | $13.30B | $12.00B | $11.18B |
| Goodwill and Intangible Assets | $27.05B | $27.55B | $27.09B | $26.14B | $23.71B | $24.02B | $23.86B | $23.73B | $20.96B | $19.55B |
| Long Term Investments | $1.22B | $910.00M | $608.00M | $668.00M | $756.00M | $698.00M | $798.00M | $814.00M | $955.00M | $1.12B |
| Tax Assets | $136.00M | $96.00M | $84.00M | $105.00M | $106.00M | $98.00M | $112.00M | $144.00M | $89.00M | $89.00M |
| Other Non-Current Assets | $6.16B | $5.13B | $5.80B | $5.38B | $2.90B | $2.34B | $1.69B | $900.00M | $907.00M | $794.00M |
| Total Non-Current Assets | $64.56B | $64.04B | $62.84B | $60.53B | $54.98B | $54.79B | $51.31B | $49.62B | $45.25B | $43.19B |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $73.48B | $71.94B | $69.33B | $66.73B | $60.66B | $60.31B | $57.10B | $54.26B | $50.11B | $47.99B |
| Account Payables | $2.96B | $3.31B | $3.60B | $2.93B | $2.60B | $2.60B | $2.54B | $2.45B | $2.32B | $2.25B |
| Short Term Debt | $5.48B | $5.04B | $4.14B | $2.62B | $2.42B | $3.88B | $4.64B | $5.18B | $2.27B | $5.30B |
| Tax Payables | $188.00M | $268.00M | $106.00M | $141.00M | $214.00M | $303.00M | $253.00M | $140.00M | $259.00M | $86.00M |
| Deferred Revenue | $774.00M | $811.00M | $857.00M | $799.00M | $717.00M | $683.00M | $703.00M | $884.00M | $819.00M | $812.00M |
| Other Current Liabilities | $5.44B | $2.68B | $2.77B | $2.62B | $2.33B | $2.31B | $2.29B | $2.97B | $4.61B | $1.55B |
| Total Current Liabilities | $14.85B | $12.11B | $11.47B | $9.11B | $8.27B | $9.78B | $10.43B | $10.79B | $10.11B | $9.99B |
| Long Term Debt | $32.84B | $31.14B | $27.78B | $27.05B | $23.91B | $22.41B | $19.76B | $18.21B | $16.57B | $15.39B |
| Deferred Revenue Non-Current | $350.00M | $277.00M | $228.00M | $246.00M | $242.00M | $207.00M | $196.00M | $174.00M | $105.00M | $85.00M |
| Deferred Tax Liabilities Non-Current | $5.24B | $4.87B | $4.95B | $4.67B | $3.81B | $3.61B | $3.16B | $2.45B | $2.27B | $1.82B |
| Other Non-Current Liabilities | $2.85B | $3.00B | $2.38B | $2.74B | $3.11B | $2.78B | $2.86B | $6.23B | $5.57B | $3.37B |
| Total Non-Current Liabilities | $41.28B | $39.28B | $35.34B | $34.70B | $31.07B | $29.01B | $25.98B | $23.99B | $22.15B | $20.67B |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $56.12B | $51.38B | $46.81B | $43.81B | $39.34B | $38.78B | $36.41B | $34.78B | $32.25B | $30.66B |
| Preferred Stock | $3.53B | $3.67B | $3.87B | $4.00B | $4.00B | $4.00B | $4.00B | $4.00B | $4.00B | $4.00B |
| Common Stock | $20.86B | $20.86B | $20.84B | $20.66B | $20.39B | $20.36B | $20.04B | $20.09B | $18.37B | $18.10B |
| Retained Earnings | $-8.44B | $-5.51B | $-3.65B | $-3.42B | $-4.68B | $-4.51B | $-4.94B | $-6.08B | $-6.04B | $-6.35B |
| Accumulated Other Comprehensive Income Loss | $-159.00M | $-42.00M | $-55.00M | $213.00M | $103.00M | $161.00M | $90.00M | $-17.00M | $46.00M | $119.00M |
| Other Total Stockholders Equity | $1.28B | $1.26B | $1.17B | $1.16B | $1.17B | $1.18B | $1.17B | $1.16B | $1.16B | $1.15B |
| Total Stockholders Equity | $17.07B | $20.23B | $22.18B | $22.61B | $20.99B | $21.20B | $20.36B | $19.16B | $17.54B | $17.02B |
| Total Equity | $17.36B | $20.56B | $22.52B | $22.92B | $21.33B | $21.53B | $20.69B | $19.48B | $17.85B | $17.33B |
| Total Liabilities and Stockholders Equity | $73.48B | $71.94B | $69.33B | $66.73B | $60.66B | $60.31B | $57.10B | $54.26B | $50.11B | $47.99B |
| Minority Interest | $289.00M | $328.00M | $337.00M | $306.00M | $340.00M | $334.00M | $326.00M | $323.00M | $314.00M | $306.00M |
| Total Liabilities and Total Equity | $73.48B | $71.94B | $69.33B | $66.73B | $60.66B | $60.31B | $57.10B | $54.26B | $50.11B | $47.99B |
| Total Investments | $1.62B | $1.91B | $608.00M | $668.00M | $756.00M | $698.00M | $1.02B | $814.00M | $955.00M | $1.12B |
| Total Debt | $38.31B | $36.18B | $31.92B | $29.67B | $26.32B | $26.30B | $24.41B | $23.39B | $21.46B | $20.29B |
| Net Debt | $36.74B | $35.41B | $31.77B | $29.47B | $26.10B | $26.15B | $23.98B | $22.77B | $20.61B | $19.67B |
Cash Flow Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $375.00M | $2.26B | $2.93B | $2.89B | $2.47B | $3.25B | $2.97B | $2.97B | $3.09B | $2.73B |
| Depreciation and Amortization | $5.04B | $4.92B | $4.72B | $4.61B | $4.40B | $4.40B | $4.01B | $3.85B | $3.51B | $3.42B |
| Deferred Income Tax | $577.00M | $90.00M | $967.00M | $1.04B | $792.00M | $1.13B | $995.00M | $1.04B | $1.11B | $924.00M |
| Stock Based Compensation | $- | $95.00M | $101.00M | $95.00M | $91.00M | $93.00M | $89.00M | $81.00M | $90.00M | $94.00M |
| Change in Working Capital | $-534.00M | $-157.00M | $367.00M | $285.00M | $473.00M | $57.00M | $381.00M | $480.00M | $286.00M | $241.00M |
| Accounts Receivables | $- | $-57.00M | $-37.00M | $278.00M | $704.00M | $- | $- | $- | $- | $- |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Working Capital | $-534.00M | $-100.00M | $404.00M | $7.00M | $-231.00M | $57.00M | $381.00M | $376.00M | $286.00M | $241.00M |
| Other Non Cash Items | $1.53B | $737.00M | $-719.00M | $964.00M | $1.03B | $922.00M | $831.00M | $753.00M | $577.00M | $789.00M |
| Net Cash Provided by Operating Activities | $6.99B | $7.95B | $8.37B | $8.01B | $7.75B | $7.96B | $7.38B | $7.36B | $6.64B | $6.27B |
| Investments in Property Plant and Equipment | $-4.43B | $-4.76B | $-5.14B | $-6.92B | $-4.29B | $-3.99B | $-4.03B | $-4.03B | $-3.77B | $-4.16B |
| Acquisitions Net | $-624.00M | $-13.00M | $-367.00M | $-12.00M | $-65.00M | $-51.00M | $-395.00M | $-1.65B | $-386.00M | $98.00M |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $- | $4.03B | $3.77B | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- | $6.00M | $107.00M | $- |
| Other Investing Activities | $614.00M | $-1.00B | $-4.00M | $-72.00M | $813.00M | $3.00M | $36.00M | $-3.79B | $-4.30B | $-51.00M |
| Net Cash Used for Investing Activities | $-4.44B | $-5.78B | $-5.51B | $-7.00B | $-3.54B | $-4.04B | $-4.39B | $-5.44B | $-4.58B | $-4.11B |
| Debt Repayment | $2.48B | $2.69B | $39.00M | $2.58B | $-638.00M | $-1.34B | $160.00M | $358.00M | $-272.00M | $-510.00M |
| Common Stock Issued | $- | $18.00M | $171.00M | $261.00M | $26.00M | $240.00M | $11.00M | $117.00M | $99.00M | $952.00M |
| Common Stock Repurchased | $-92.00M | $-140.00M | $-125.00M | $-297.00M | $-263.00M | $- | $-175.00M | $-224.00M | $-106.00M | $-138.00M |
| Dividends Paid | $-3.80B | $-3.67B | $-3.45B | $-3.26B | $-3.11B | $-2.97B | $-2.83B | $-2.64B | $-2.43B | $-2.32B |
| Other Financing Activities | $-426.00M | $-342.00M | $250.00M | $-611.00M | $-416.00M | $-136.00M | $-366.00M | $15.00M | $785.00M | $-236.00M |
| Net Cash Used Provided by Financing Activities | $-1.75B | $-1.54B | $-2.99B | $-1.02B | $-4.13B | $-4.20B | $-3.20B | $-2.15B | $-1.82B | $-2.11B |
| Effect of Forex Changes on Cash | $- | $- | $-10.00M | $- | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $800.00M | $623.00M | $-140.00M | $-17.00M | $79.00M | $-280.00M | $-200.00M | $-228.00M | $240.00M | $47.00M |
| Cash at End of Period | $1.57B | $772.00M | $149.00M | $207.00M | $224.00M | $145.00M | $425.00M | $625.00M | $853.00M | $613.00M |
| Cash at Beginning of Period | $772.00M | $149.00M | $289.00M | $224.00M | $145.00M | $425.00M | $625.00M | $853.00M | $613.00M | $566.00M |
| Operating Cash Flow | $6.99B | $7.95B | $8.37B | $8.01B | $7.75B | $7.96B | $7.38B | $7.36B | $6.64B | $6.27B |
| Capital Expenditure | $-4.43B | $-4.76B | $-5.14B | $-6.92B | $-4.29B | $-3.99B | $-4.03B | $-4.03B | $-3.77B | $-4.16B |
| Free Cash Flow | $2.56B | $3.18B | $3.23B | $1.09B | $3.47B | $3.97B | $3.36B | $3.32B | $2.87B | $2.11B |