BCE Inc (BCE) Income Statement
BCE 2025 at a glance
Fiscal year ended December 31, 2025 · Canadian dollarsBCE revenue and net income
Where BCE's revenue goes
2025Each bar shows an amount and its share of revenue. BCE kept 26.4% of revenue as net income.
BCE profit margins
BCE growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.2% | +0.4% | +1.3% | +1.3% |
| Gross profit | +0.3% | +0.4% | +1.0% | +1.2% |
| Operating income | −2.3% | −0.3% | +1.0% | +0.5% |
| Net income | +1,777.9% | +31.1% | +19.7% | +9.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BCE income statement in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$24.47B | C$24.41B | C$24.67B | C$24.17B | C$23.45B | C$22.88B | C$18.35B | C$23.47B | C$22.72B | C$21.72B |
| Cost of revenue | C$7.72B | C$7.71B | C$17.25B | C$7.64B | C$7.28B | C$6.97B | C$12.50B | C$13.65B | C$13.15B | C$6.71B |
| Gross profit | C$16.75B | C$16.70B | C$7.42B | C$16.53B | C$16.16B | C$15.92B | C$5.85B | C$9.82B | C$9.57B | C$15.01B |
| Research & development | C$60.0M | C$66.0M | C$90.0M | C$57.0M | C$57.0M | C$47.0M | C$84.1M | C$106.0M | C$119.0M | C$147.0M |
| Sales, general & admin | C$3.98B | C$4.20B | C$4.41B | C$4.42B | C$4.42B | C$8.42B | C$247.0M | C$4.54B | C$4.41B | C$4.31B |
| Total operating expenses | C$11.33B | C$11.16B | C$1.92B | C$11.06B | C$10.88B | C$15.92B | C$1.49B | C$16.12B | C$15.74B | C$15.01B |
| Operating income | C$5.42B | C$5.55B | C$5.50B | C$5.48B | C$5.28B | C$5.16B | C$4.37B | C$5.52B | C$5.44B | C$5.28B |
| Interest income | C$79.0M | C$222.0M | C$123.0M | C$1.24B | C$905.0M | C$1.15B | C$1.05B | C$1.15B | C$915.0M | C$852.0M |
| Interest expense | C$1.77B | C$1.75B | C$1.52B | C$1.15B | C$1.11B | C$1.16B | C$1.20B | C$1.07B | C$1.03B | C$969.0M |
| Income before taxes | C$7.71B | C$952.0M | C$3.32B | C$3.89B | C$3.94B | C$3.27B | C$3.36B | C$3.97B | C$4.12B | C$4.20B |
| Income taxes | C$1.19B | C$577.0M | C$996.0M | C$967.0M | C$1.04B | C$792.0M | C$870.6M | C$995.0M | C$1.07B | C$1.11B |
| Net income | C$6.46B | C$344.0M | C$2.26B | C$2.87B | C$2.84B | C$2.63B | C$2.46B | C$2.93B | C$2.99B | C$3.03B |
| EBITDA | C$14.72B | C$7.74B | C$9.76B | C$9.76B | C$9.66B | C$8.82B | C$8.62B | C$9.05B | C$8.99B | C$8.67B |
| Gross margin | 68.4% | 68.4% | 30.1% | 68.4% | 68.9% | 69.6% | 31.9% | 41.8% | 42.1% | 69.1% |
| Operating margin | 22.2% | 22.7% | 22.3% | 22.7% | 22.5% | 22.5% | 23.8% | 23.5% | 23.9% | 24.3% |
| Net margin | 26.4% | 1.4% | 9.2% | 11.9% | 12.1% | 11.5% | 13.4% | 12.5% | 13.2% | 14.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Dec '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$6.18B | C$6.18B | C$6.38B | C$6.05B | C$6.08B | C$6.42B | C$6.01B | C$6.47B | C$6.08B | C$4.58B | C$4.48B | C$6.44B |
| Cost of revenue | C$4.27B | C$4.33B | C$8.14B | C$1.76B | C$1.91B | C$2.29B | C$4.23B | C$2.29B | C$1.84B | C$3.15B | C$3.16B | C$3.71B |
| Gross profit | C$1.91B | C$1.86B | −C$1.76B | C$4.28B | C$4.17B | C$4.13B | C$1.78B | C$4.18B | C$4.24B | C$1.43B | C$1.32B | C$2.73B |
| Research & development | — | — | — | — | — | C$66.0M | — | C$90.0M | — | — | — | C$57.0M |
| Sales, general & admin | C$998.0M | C$2.97B | C$2.97B | C$974.0M | C$992.0M | C$1.03B | C$1.10B | C$1.70B | C$1.08B | C$1.10B | C$1.12B | C$1.12B |
| Total operating expenses | C$582.3M | C$579.5M | −C$8.37B | C$2.83B | C$2.79B | C$2.78B | C$474.0M | C$2.87B | C$4.24B | C$362.1M | C$329.8M | C$277.0M |
| Operating income | C$1.33B | C$1.28B | C$6.61B | C$1.45B | C$1.39B | C$1.35B | C$1.30B | C$1.31B | C$1.46B | C$1.07B | C$988.6M | C$2.45B |
| Interest income | C$15.0M | C$14.0M | C$18.0M | C$20.0M | C$15.0M | C$56.0M | C$32.0M | C$52.0M | C$501.0M | C$27.0M | C$308.0M | C$305.0M |
| Interest expense | C$469.2M | C$445.1M | C$451.6M | C$457.0M | C$442.0M | C$439.0M | C$416.0M | C$409.0M | C$384.0M | C$369.0M | C$354.0M | C$327.0M |
| Income before taxes | C$893.4M | C$908.3M | C$826.7M | C$5.05B | C$884.0M | C$680.0M | C$623.0M | C$645.0M | C$950.0M | C$505.4M | C$782.3M | C$789.0M |
| Income taxes | C$264.1M | C$239.6M | C$200.0M | C$495.0M | C$240.0M | C$175.0M | C$166.0M | C$210.0M | C$243.0M | C$206.0M | C$199.6M | C$222.0M |
| Net income | C$597.3M | C$654.7M | C$469.9M | C$4.54B | C$619.0M | C$504.0M | C$449.0M | C$430.0M | C$687.0M | C$282.9M | C$570.1M | C$572.0M |
| EBITDA | C$2.70B | C$2.71B | C$3.91B | C$6.82B | C$2.61B | C$2.37B | C$2.31B | C$2.31B | C$2.57B | C$2.29B | C$2.22B | C$2.45B |
| Gross margin | 30.9% | 30.0% | −27.5% | 70.8% | 68.6% | 64.4% | 29.6% | 64.6% | 69.7% | 31.2% | 29.5% | 42.4% |
| Operating margin | 21.5% | 20.7% | 103.6% | 24.0% | 22.8% | 21.1% | 21.7% | 20.3% | 24.0% | 23.3% | 22.1% | 38.0% |
| Net margin | 9.7% | 10.6% | 7.4% | 75.1% | 10.2% | 7.8% | 7.5% | 6.6% | 11.3% | 6.2% | 12.7% | 8.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in BCE's financial statements (latest annual report filed March 6, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BCE financial results
In fiscal year 2025 (ended December 31, 2025), BCE reported revenue of C$24.5 billion, up 0.2% from the year before. It had net income of C$6.5 billion (up 1,777.9%), a net profit margin of 26.4%. Over five years revenue grew at an average rate of 1.3% a year. Figures are in Canadian dollars, the currency of its financial statements.
See the BCE stock overview for the latest quote and news, or the BCE chart for price history and technical indicators.
BCE income statement FAQ
What is BCE's annual revenue?
BCE reported total revenue of C$24.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 0.2% from C$24.4 billion the previous year.
Is BCE profitable?
Yes. BCE reported net income of C$6.5 billion in fiscal 2025, a net profit margin of 26.4%; its operating margin was 22.2%.
What is BCE's gross margin?
BCE's gross margin was 68.4% in fiscal 2025: for every $100 of revenue, BCE kept $68 after the direct cost of its products and services.
How much does BCE spend on research and development?
BCE spent C$60.0 million on research and development in fiscal 2025, 0.2% of revenue.
How fast is BCE growing?
Revenue grew 1.3% a year on average over the last five fiscal years, from C$22.9 billion to C$24.5 billion.
When will BCE report its next earnings?
BCE is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does BCE's fiscal year end?
BCE's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 6, 2026.