BCE Inc cash flow statement

In fiscal 2025, BCE Inc's operations generated $5.01bn of cash; it spent $2.65bn on capital projects, leaving free cash flow of $2.36bn. It returned $155m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

BCE Inc: cash flow statement, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	5,021	5,673	5,702	5,998	5,782	6,391	6,434	5,889	5,103	5,006
Depreciation and amortisation	2,651	2,964	3,099	3,274	3,284	3,678	3,632	3,645	3,681	3,750
Capital spending	2,850	3,110	3,066	2,995	3,134	3,872	3,948	3,395	2,846	2,649
Free cash flow	2,171	2,563	2,635	3,003	2,649	2,519	2,486	2,494	2,257	2,358
Share buybacks	80	173	171	107	196	237	196	165	172	155

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from BCE Inc's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to BCE Inc.