Discounted Cash Flow

BCE Inc. Foreign

BCE · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $21.7b $3.1b $459.0m 14.2% $3.33
2017 $22.7b (4.6%) $3.0b (-3.8%) $3.3b (624.2%) 13.1% (-8.0%) $3.12 (-6.3%)
2018 $7.4b (-67.6%) $3.0b (0.1%) $3.4b (2.7%) 40.4% (209.0%) $0.54 (-82.7%)
2019 $7.4b (0.3%) $3.3b (9.4%) $4.0b (16.3%) 44.1% (9.1%) $70.74 (13021.5%)
2020 $7.0b (-5.6%) $2.7b (-17.0%) $3.6b (-10.5%) 38.7% (-12.1%) $0.47 (-99.3%)
2021 $7.3b (4.6%) $2.9b (7.2%) $3.2b (-10.7%) 39.7% (2.4%) $2.99 (538.0%)
2022 $7.6b (4.8%) $2.9b (1.2%) $3.2b (1.8%) 38.3% (-3.5%) $2.98 (-0.3%)
2023 $24.7b (222.9%) $2.3b (-20.5%) $3.2b (-1.5%) 9.4% (-75.4%) $2.28 (-23.5%)
2024 $24.4b (-1.1%) $375.0m (-83.9%) $2.6b (-19.5%) 1.5% (-83.7%) $0.18 (-92.1%)
2025 $24.5b (0.2%) $6.5b (1637.1%) $3.3b (28.5%) 26.6% (1632.9%) $6.79 (3672.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model