BCE Inc. (BCE) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 1.15B | 1.56B | 1.91B | 1.95B | 1.09B | 1.3B | 1.84B | 1.56B | 835.64M | 1.79B | 1.44B | 2.37B | 1.25B | 1.52B | 2B | 2.6B | 1.72B | 1.74B | 1.4B | 2.5B |
| Operating CF Margin % | 18.63% | 24.45% | 31.64% | 32% | 18.41% | 20.31% | 30.85% | 26% | 13.9% | 27.66% | 23.74% | 51.68% | 27.86% | 23.56% | 45.85% | 57.07% | 36.7% | 28.07% | 23.99% | 43.91% |
| Operating CF Growth % | 5.53% | 19.68% | 3.91% | 24.69% | 30.63% | -27.15% | 27.61% | -33.97% | -32.99% | 18.05% | -27.68% | -8.93% | -27.33% | -12.98% | 42.75% | 3.92% | -13.86% | 6.87% | -33.73% | -2.46% |
| Net Income | 654.69M | 630M | 4.55B | 644M | 466.24M | 350.23M | -1.19B | 426M | 331.45M | 324.44M | 505.7M | 397M | 788M | 421.96M | 771M | 631M | 934M | 658M | 623.47M | 734M |
| Depreciation & Amortization | 1.36B | 1.37B | 1.31B | 1.29B | 883.84M | 868.63M | 1.26B | 927.99M | 931.61M | 945.39M | 906.88M | 1.23B | 1.2B | 879.34M | 1.18B | 1.2B | 1.15B | 1.18B | 904.07M | 1.15B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 21M | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 495M | 240M | 0 | 66.02M | 5M | 0 | 0 | 67.91M | 0 | 273M | 270M | 138.69M | 178M | 232M | 335M | 249M | 0 | 236M |
| Other Non-Cash Items | -592.53M | -174M | -4.56B | -86M | 136.88M | -33.36M | 1.9B | 152.72M | -20.67M | 218.05M | -33.86M | 221M | -214M | -36.15M | -259M | 90M | -327M | -228M | -152.12M | 10M |
| Working Capital Changes | -269.7M | -265M | 112M | -138M | -395.36M | 52.81M | -134M | 54.8M | -406.75M | 234.65M | 64.78M | 242M | -798M | 112.87M | 104M | 445M | -377M | -112M | 22.86M | 366M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 36M | 56.99M | 62.75M | -156.94M | 5.89M | 57M | 86M | -142.38M | -26M | 23M | 91M | -21M | 0 | 41M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -906.34M | -1.3B | -1.21B | -750M | -235.55M | -419.72M | -1.05B | -1.38B | -662.9M | -1.55B | -865.65M | -1.46B | -1.09B | -1.43B | -1.33B | -1.19B | -1.06B | -3.15B | -1.25B | -1.24B |
| Capital Expenditures | -843.17M | -1.32B | -894M | -763M | -506.54M | -669.19M | -967M | -1.38B | -816.45M | -1.55B | -855.35M | -1.45B | -1.1B | -1.21B | -1.32B | -1.22B | -959M | -3.12B | -1.24B | -1.21B |
| CapEx % of Revenue | 13.63% | 20.63% | 14.78% | 12.54% | 8.54% | 10.42% | 16.19% | 22.97% | 13.58% | 23.99% | 14.07% | 31.73% | 24.51% | 18.8% | 30.32% | 26.79% | 20.51% | 50.3% | 21.33% | 21.26% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -15.04M | 81M | -145M | 1M | -7.64M | 29.88M | -8M | -8.04M | -7.38M | -2.26M | -11.78M | -16M | 31M | -7.38M | -8M | 27M | -10M | -23M | -8.67M | -17M |
| Cash from Financing | 705.82M | -404M | -751M | -1.74B | -1.22B | -1.08B | -582M | 320.78M | -33.96M | -122.23M | -784.68M | -750M | 436M | -517.13M | -527M | -989M | -771M | -557M | 181.29M | -2.12B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -94.24M | -87M | -67M | -39M | -70.18M | -45.17M | -42M | -56.99M | -104.82M | -70.92M | -52.26M | -24M | -21M | -42.05M | 1M | 7M | 46M | 16M | 70.15M | 63M |
| Dividends Paid | -445.15M | -454M | -436M | -646M | -445.39M | -669.19M | -953M | -697.82M | -685.79M | -700.18M | -675.74M | -928M | -894M | -649.91M | -866M | -873M | -828M | -827M | -649.48M | -822M |
| Share Repurchases | -94.24M | -87M | 0 | 0 | -70.18M | -45.17M | -42M | -56.99M | -104.82M | -70.92M | -52.26M | 0 | 0 | -43.52M | 0 | 0 | 0 | 0 | -65.42M | 0 |
| Other Financing | -27.07M | -53M | -179M | -52M | -41.69M | -18.07M | -17M | -17.54M | -23.62M | -12.07M | -13.25M | -550M | 229M | -5.9M | 642M | -65M | -145M | -230M | -26.8M | -130M |
| Net Change in Cash | 1.05B | -151M | -45M | -542M | -361.41M | -282.25M | 212M | 495.52M | 126.2M | 126.83M | -223.31M | 159M | 592M | -419.75M | 137M | 418M | -111M | -1.96B | 293.19M | -858M |
| Free Cash Flow | 308.8M | 244M | 1.02B | 1.18B | 585.06M | 635.14M | 875M | 181.94M | 95.97M | 237.67M | 590.35M | 913M | 150M | 308.36M | 676M | 1.38B | 757M | -1.38B | 484.74M | 1.29B |
| FCF Margin % | 4.99% | 3.82% | 16.86% | 19.46% | 9.87% | 9.89% | 14.65% | 3.03% | 1.6% | 3.67% | 9.71% | 19.95% | 3.35% | 4.79% | 15.53% | 30.28% | 16.19% | -22.23% | 8.32% | 22.65% |
| FCF Growth % | -47.22% | -61.58% | 16.57% | 550.75% | 509.65% | 167.24% | 48.22% | -80.07% | -36.02% | -22.93% | -12.67% | -33.74% | -80.18% | 122.34% | 39.46% | 6.9% | -22.76% | -1107.3% | -55.07% | -22.44% |
| FCF per Share | 0.33 | 0.26 | 1.09 | 1.27 | 0.64 | 0.70 | 0.96 | 0.20 | 0.11 | 0.26 | 0.65 | 1.00 | 0.16 | 0.34 | 0.74 | 1.51 | 0.83 | -1.52 | 0.53 | 1.42 |
| FCF Conversion (FCF/Net Income) | 1.76x | 3.32x | 0.42x | 3.15x | 1.63x | 2.59x | -1.55x | 2.68x | 1.86x | 4.16x | 2.10x | 8.36x | 2.19x | 2.65x | 3.66x | 5.30x | 2.36x | 2.65x | 1.77x | 3.49x |
| Interest Paid | 0 | 319M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |