BCE vs Telus
BCE is the larger business, with $17.52bn of revenue in fiscal 2025 against $14.68bn for Telus (1.2 times as much). Telus grew faster (-1.4% against -1.7%). BCE kept more of each dollar of sales as profit: a net margin of 26.6% against 5.4%. BCE carries less debt relative to equity (151.6% against 199.4%).
| Latest fiscal year | BCEBCE, 2025 | TelusTU, 2025 |
|---|---|---|
| Revenue | $17.52bn | $14.68bn |
| Revenue growth | -1.7% | -1.4% |
| Net income | $4.66bn | $797m |
| Operating margin | — | 11.5% |
| Net margin | 26.6% | 5.4% |
| Return on equity | 32.6% | 7.1% |
| Free cash flow | $2.36bn | $1.53bn |
| Cash | — | $1.91bn |
| Total debt | $25.46bn | $22.94bn |
| Debt to equity | 151.6% | 199.4% |
| Dividend per share | — | — |
| Dividend yield | — | 8.2% |
| Share buybacks | $155m | $28.6m |
| Employees | — | — |
| Market value | $19.09bn | $13.68bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |