| Company Name: | BCE, Incorporated | | Ticker Symbol: | BCE | | | WWW Address: | www.bce.ca | | CEO: | George A. Cope | | No. of Employees: | 50,102 | | Common Issue Type: | CS | | Business Description: | A communications company, which provides wireline voice and wireless communications services, Internet access, data services and video services to residential, business and wholesale customers.
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| | | Industry Information: | TELECOMMUNICATIONS - Telecom Services - Domestic [more like this] |
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| Price | Day Change | Bid | Ask | Open | High | Low | Volume | | 26.25 |  0.0 | 25.52 | 26.45 | 0 | 26.48 | 26.11 | 300 |
| Market Cap (mil) | Shares Outstanding (mil) | Beta | EPS | DPS | P/E | Yield | 52-Wks-Range |
| 20,139.0 | 767.2 | 1.00 | 0.83 | 0.73 | 18.9 | 6.2 | 26.48 - 16.85 |
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| KEY FIGURES (Latest Twelve Months - LTM) | | Yesterday's Close | 26.25 | $ | | PE Ratio - LTM | 18.9 | |
| Market Capitalisation | 20,139.0 | mil |
| Latest Shares Outstanding | 767.2 | mil |
| Earnings pS (EPS) | 0.83 | $ |
| Dividend pS (DPS) | 0.73 | ¢ |
| Dividend Yield | 6.2 | % |
| Dividend Payout Ratio | 88 | % |
| Revenue per Employee | 290,927 | $ |
| Effective Tax Rate | 25.7 | % |
| Float | 0.0 | mil |
| Float as % of Shares Outstanding | 0.0 | % |
| Foreign Sales | 0 | mil |
| Domestic Sales | 0 | mil |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 34.20 | % |
| Research & Devlopment (R&D) as % of Revenue | 0.00 | % |
| Gross Profit Margin | 73.9 | % |
| EBITDA Margin | 39.7 | % |
| Pre-Tax Profit Margin | 11.7 | % |
| Assets Turnover | 0.4 | % |
| Return on Assets (ROA) | 3.3 | % |
| Return on Equity (ROE) | 8.9 | % |
| Return on Capital Invested (ROCI) | 4.6 | % |
| Current Ratio | 0.8 | |
| Leverage Ratio (Assets/Equity) | 2.7 | |
| Interest Cover | 3.3 | |
| Total Debt/Equity (Gearing Ratio) | 0.78 | |
| LT Debt/Total Capital | 38.0 | % |
| Working Capital pS | -0.92 | $ |
| Cash pS | 1.44 | $ |
| Book-Value pS | 17.24 | $ |
| Tangible Book-Value pS | 2.50 | $ |
| Cash Flow pS | 4.97 | $ |
| Free Cash Flow pS | 1.26 | $ |
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| KEY FIGURES (LTM): Price info |
| Price/Book Ratio | 1.52 | |
| Price/Tangible Book Ratio | 10.49 | |
| Price/Cash Flow | 5.3 | |
| Price/Free Cash Flow | 20.8 | |
| P/E as % of Industry Group | 80.0 | % |
| P/E as % of Sector Segment | 130.0 | % |
| | | Balance Sheet (at a glance) in Millions |
| | | | | | DIVIDEND INFO | | Dividend Declared Date | 11/10/2009 |
| Dividend Ex-Date | 12/10/2009 |
| Dividend Record Date | 12/14/2009 |
| Dividend Pay Date | 01/14/2010 |
| Dividend Amount | 405 |
| Type of Payment | Cash Payment |
| Dividend Rate | 1.62 |
| Current Dividend Yield | 6.2 |
| 5-Y Average Dividend Yield | 4.1 |
| Payout Ratio | 88.0 |
| 5-Y Average Payout Ratio | 61.0 |
|  | | Share price performance previous 3 years |
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 | | | Share price performance intraday |
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| PRICE/VOLUME | High | Low | Close | % Price Chg | % Price Chg vs. Mkt. | Avg. Daily Vol | Total Vol |
| 1 Week | - | - | - | 2.0 | 101 | 5,105 | 5,503 |
| 4 Weeks | 26.48 | 23.57 | 23.98 | 9.5 | 103 | 6,403 | 102,441 |
| 13 Weeks | 26.48 | 23.57 | 24.65 | 6.5 | 99 | 6,258 | 375,508 |
| 26 Weeks | 26.48 | 19.91 | 22.90 | 14.6 | 95 | 6,555 | 812,806 |
| 52 Weeks | 26.48 | 16.85 | 19.79 | 32.6 | 107 | 11,397 | 2,826,373 |
| YTD | 26.48 | 18.45 | - | 28.1 | 105 | 9,475 | 2,141,331 |
| Moving Average | 5-Days | 10-Days | 10-Weeks | 30-Weeks | 200-Days | Beta (60-Mnth) | Beta (36-Mnth) |
| 26.01 | 25.92 | 24.78 | 23.23 | 22.39 | 1.00 | 1.04 |
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| GROWTH RATES | 5-Year
Growh | R² of 5-Year Growth | 3-Year
Growth |
| Revenue | -0.76 | 3.5 | -2.12 |
| Income | -0.50 | 0.0 | -18.80 |
| Dividend | 4.10 | 9.2 | -0.02 |
| Capital Spending | -23.18 | NA | -28.30 |
| R&D | 0.00 | NA | 0.00 |
| Normalized Inc. | 1.40 | NA | -6.47 |
| | | CHANGES | YTD vs.
Last YTD | Curr Qtr vs.
Qtr 1-Yr ago | Annual vs.
Last Annual |
| Revenue % | -2.0 | -0.9 | -19.0 |
| Earnings % | 40.5 | 106.9 | -81.0 |
| EPS % | 52.9 | 138.0 | -83.0 |
| EPS $ | 0.53 | 0.39 | -4.07 |
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| SOLVENCY RATIOS | | SHORT-TERM SOLVENCY RATIOS (LIQUIDITY) |
| Net Working Capital Ratio | -1.64 |
| Current Ratio | 0.9 |
| Quick Ratio (Acid Test) | 0.8 |
| Liquidity Ratio (Cash) | 0.49 |
| Receivables Turnover | 8.4 |
| Average Collection Period | 43 |
| Working Capital/Equity | -4.5 |
| Working Capital pS | -0.67 |
| Cash-Flow pS | 4.19 |
| Free Cash-Flow pS | 2.17 |
| FINANCIAL STRUCTURE RATIOS |
| Altman's Z-Score Ratio | 1.31 |
| Financial Leverage Ratio (Assets/Equity) | 2.7 |
| Debt Ratio | 56.4 |
| Total Debt/Equity (Gearing Ratio) | 0.85 |
| LT Debt/Equity | 0.69 |
| LT Debt/Capital Invested | 58.8 |
| LT Debt/Total Liabilities | 45.2 |
| Interest Cover | 2.9 |
| Interest/Capital Invested | 2.36 |
| | | | VALUATION RATIOS | | MULTIPLES |
| PQ Ratio | 14.15 |
| Tobin's Q Ratio | 0.62 |
| Current P/E Ratio - LTM | 18.90 |
| Enterprise Value (EV)/EBITDA | 6.64 |
| Enterprise Value (EV)/Free Cash Flow | 19.77 |
| Dividend Yield | 6.2 |
| Price/Tangible Book Ratio - LTM | 10.49 |
| Price/Book Ratio - LTM | 1.52 |
| Price/Cash Flow Ratio | 5.3 |
| Price/Free Cash Flow Ratio - LTM | 20.8 |
| Price/Sales Ratio | 1.34 |
| P/E Ratio (1 month ago) - LTM | 17.4 |
| P/E Ratio (26 weeks ago) - LTM | 21.6 |
| P/E Ratio (52 weeks ago) - LTM | 5.0 |
| 5-Y High P/E Ratio | 48.2 |
| 5-Y Low P/E Ratio | 5.0 |
| 5-Y Average P/E Ratio | 15.7 |
| Current P/E Ratio as % of 5-Y Average P/E | 120 |
| P/E as % of Industry Group | 80.0 |
| P/E as % of Sector Segment | 130.0 |
| Current 12 Month Normalized P/E Ratio - LTM | 12.4 |
| PER SHARE FIGURES |
| LT Debt pS | 10.36 |
| Current Liabilities pS | 6.39 |
| Tangible Book Value pS - LTM | 2.50 |
| Book Value pS - LTM | 17.24 |
| Capital Invested pS | 29.43 |
| Cash pS - LTM | 1.44 |
| Cash Flow pS - LTM | 4.97 |
| Free Cash Flow pS - LTM | 1.26 |
| Earnings pS (EPS) | 0.83 |
| | | | OPERATING RATIOS | | PROFITABILITY RATIOS |
| Free Cash Flow Margin | 11.96 |
| Free Cash Flow Margin 5YEAR AVG | 8.23 |
| Net Profit Margin | 5.3 |
| Net Profit Margin - 5YEAR AVRG. | 11.9 |
| Equity Productivity | 1.22 |
| Return on Equity (ROE) | 6.5 |
| Return on Equity (ROE) - 5YEAR AVRG. | 16.4 |
| Capital Invested Productivity | 0.65 |
| Return on Capital Invested (ROCI) | 3.4 |
| Return on Capital Invested (ROCI) - 5YEAR AVRG. | 8.2 |
| Assets Productivity | 0.40 |
| Return on Assets (ROA) | 2.4 |
| Return on Assets (ROA) - 5YEAR AVRG. | 5.6 |
| Gross Profit Margin | 73.9 |
| Gross Profit Margin - 5YEAR AVRG. | 54.7 |
| EBITDA Margin - LTM | 39.7 |
| EBIT Margin - LTM | 15.9 |
| Pre-Tax Profit Margin | 10.3 |
| Pre-Tax Profit Margin - 5YEAR AVRG. | 16.2 |
| Effective Tax Rate | 25.7 |
| Effective Tax Rate - 5YEAR AVRG. | 20.6 |
| EFFICIENCY RATIOS |
| Cash Conversion Cycle | 61 |
| Revenue per Employee | 290,927 |
| Net Income per Employee | 15,508 |
| Average Collection Period | 37 |
| Receivables Turnover | 8.4 |
| Day's Inventory Turnover Ratio | 24 |
| Inventory Turnover | 14.8 |
| Inventory/Sales | 1.5 |
| Accounts Payble/Sales | 19.99 |
| Assets/Revenue | 2.50 |
| Net Working Capital Turnover | -27.24 |
| Fixed Assets Turnover | 0.52 |
| Total Assets Turnover | 0.4 |
| Revenue per $ Cash | 5.79 |
| Revenue per $ Plant | 0.91 |
| Revenue per $ Common Equity | 1.22 |
| Revenue per $ Capital Invested | 0.65 |
| Selling, General & Adm/tive (SG&A) as % of Revenue | 35.4 |
| SG&A Expense as % of Revenue - 5YEAR AVRG. | 15.8 |
| Research & Devlopment (R&D) as % of Revenue | 0.0 |
| R&D Expense as % of Revenue - 5YEAR AVRG. | 0.0 |
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