BCE Inc. (BCE)

BCE Inc. Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	6,498	6,514	375	2,327	2,926	2,892
Depreciation & Amortization	5,322	5,238	5,041	4,918	4,723	4,609
Other Adjustments	-4,643	-4,102	2,106	858	391	222
Changes in Other Operating Activities	-357	-657	-534	-157	325	285
Operating Cash Flow	6,571	6,993	6,988	7,946	8,365	8,008
Operating Cash Flow Growth	-11.53%	0.07%	-12.06%	-5.01%	4.46%	4.00%
Capital Expenditures	-3,812	-3,700	-3,897	-4,581	-5,133	-4,852
Purchases of Intangible Assets	-3	-3	-531	-183	-3	-2,082
Purchases of Investments	-131	317	566	-1,000	-	-
Proceeds from Sale of Investments	-	4,684	12	-	-	-
Payments for Business Acquisitions	-4,906	-4,905	-624	-222	-429	-12
Proceeds from Business Divestments	100	102	-	209	52	-
Other Investing Activities	-97	-95	36	-4	-4	-72
Investing Cash Flow	-4,165	-3,600	-4,438	-5,781	-5,517	-7,018
Short-Term Debt Issued	761	452	1,945	-646	811	201
Net Short-Term Debt Issued (Repaid)	761	452	1,945	-646	811	201
Long-Term Debt Issued	5,761	7,809	3,834	5,195	1,951	4,985
Long-Term Debt Repaid	-6,134	-10,092	-3,303	-1,858	-2,023	-2,751
Net Long-Term Debt Issued (Repaid)	-373	-2,283	531	3,337	-72	2,234
Issuance of Common Stock	-	-	-	18	171	261
Repurchase of Common Stock	-214	-216	-235	-223	-255	-297
Net Common Stock Issued (Repurchased)	-214	-216	-235	-205	-84	-36
Repurchase of Preferred Stock	-177	-182	-92	-140	-125	-
Net Preferred Stock Issued (Repurchased)	-177	-182	-92	-140	-125	-
Common Dividends Paid	-1,832	-2,026	-3,613	-3,486	-3,312	-3,132
Preferred Share Dividends Paid	-148	-151	-187	-182	-136	-125
Other Financing Activities	-207	-240	-99	-220	-70	-67
Financing Cash Flow	-2,190	-4,646	-1,750	-1,542	-2,988	-925
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1	1	-	-	-	-
Net Cash Flow	214	-1,252	800	448	-190	65
Free Cash Flow	2,759	3,293	3,091	3,365	3,232	3,156
Free Cash Flow Growth	-16.22%	6.54%	-8.14%	4.12%	2.41%	-9.78%
FCF Margin	11.17%	13.46%	12.66%	13.64%	13.37%	13.46%
Free Cash Flow Per Share	2.96	3.54	3.39	3.69	3.55	3.48
Levered Free Cash Flow	7,832	5,355	3,249	4,947	3,370	5,186
Unlevered Free Cash Flow	4,635	-8,440	-7,257	3,791	3,750	3,626

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q