10 Year Financial Data of BCE Inc (BCE)

43.47 (1y: +8%)

Market Cap	34.01 B	P/E(ttm)	13.00
Enterprise Value	53.05 B	P/B	3.30

BCE- NYSE (USA)
BCE Inc

Currently 1/5

Business Predictability Rank: 1-Star
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
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$43.47

3 Severe Warning Signs 4 Medium Warning Signs 3 Good Signs

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Annual Rates (per share)	10 yrs*	5 yrs*	12 months*
Revenue Growth (%)	1.5	4.3	0.5
EBITDA Growth (%)	2.4	6.7	5.8
Free Cash Flow Growth (%)	-3.3	-8.2	4.5
Book Value Growth (%)	0.7	0.7	0.5

*12-month growth rate is calculated with the per share revenue (EBITDA, FCF, earnings) of the last 12 months over the per share revenue (EBITDA, FCF, earnings) over the previous 12 months. 5-year and 10-year growth rates are calculated with least-square regression based on the 5-year and 10-year numbers.

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See this page for the explanation of the data and charts * All numbers are in millions except for per share data

Per Share Data	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue per Share ($)	22.19	22.24	22.09	20.16	21.76	21.53	22.50	23.34	24.78	25.28	25.28	6.21	6.24	6.30	6.53	6.21
EBITDA per Share	8.38	7.05	8.28	7.35	8.09	7.46	8.32	9.00	9.18	9.81	9.83	2.41	2.56	2.52	2.31	2.44
Free Cashflow per Share	3.73	2.72	2.48	2.48	3.11	3.53	2.56	2.28	2.05	2.58	2.50	0.48	1.20	0.96	-0.06	0.40
Earnings per Share ($)	2.03	1.77	2.19	2.21	4.77	0.99	2.07	2.79	2.82	3.32	3.32	0.73	0.98	0.73	0.90	0.72
Dividends Per Share	1.28	1.26	1.40	1.42	1.40	0.73	1.55	1.75	2.00	2.18	2.22	0.53	0.53	0.56	0.56	0.57
Book Value per Share	13.87	14.32	15.09	13.31	17.62	17.69	18.02	18.65	13.55	13.26	13.48	13.41	13.34	13.01	13.26	13.48
Month End Stock Price	22.36	24.17	23.90	27.00	39.74	20.49	27.61	35.46	41.67	42.94	46.69	40.06	41.20	43.94	42.94	46.69
Ratios	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Return on Equity %	13.40	11.40	13.30	15.00	23.50	5.40	10.20	13.20	17.00	19.90	17.20	17.60	23.20	17.60	21.20	17.20
Return on Assets %	4.60	4.10	4.80	5.40	10.70	2.40	4.60	5.80	5.90	6.70	5.60	6.00	8.00	6.00	7.20	5.60
Return on Capital - Joel Greenblatt %	19.90	16.70	21.40	15.50	15.10	15.90	17.90	20.50	21.80	22.70	22.40	23.20	24.80	23.60	20.00	22.40
Debt to Equity	1.03	0.93	0.92	0.96	0.66	0.71	0.64	0.69	1.08	1.16	1.22	1.08	1.12	1.14	1.16	1.22

Gross Margin %	39.00	39.40	39.80	41.40	76.70	75.00	74.50	72.60	39.10	39.50	39.90	40.60	42.70	40.50	36.70	39.90
Operating Margin %	21.30	15.50	21.20	18.80	19.30	16.20	18.00	20.30	20.30	21.80	22.20	22.10	23.90	22.90	18.60	22.20
Net Margin %	9.50	8.30	10.30	11.30	22.70	5.30	9.80	12.60	12.00	13.80	12.20	12.40	16.40	12.10	14.40	12.20

Days Sales Outstanding	39.80	40.30	33.70	38.50	39.60	37.90	33.00	36.10	59.20	53.80	52.00	53.00	51.10	52.50	51.90	52.00
Days Inventory	--	11.20	10.70	11.50	23.30	22.40	36.10	32.20	13.10	11.80	12.00	11.30	11.80	12.50	10.90	12.00
Inventory Turnover	--	32.50	34.00	31.60	15.70	16.30	10.10	11.30	27.80	30.80	7.40	7.90	7.60	7.10	8.20	7.40

Debt to Revenue	0.73	0.68	0.71	0.73	0.64	0.70	0.62	0.66	0.76	0.80	3.48	3.07	3.17	3.13	3.10	3.48
COGS to Revenue	0.61	0.61	0.60	0.59	0.23	0.25	0.26	0.27	0.61	0.61	0.60	0.59	0.57	0.59	0.63	0.60
Inventory to Revenue	--	0.02	0.02	0.02	0.02	0.02	0.03	0.02	0.02	0.02	0.08	0.07	0.07	0.08	0.08	0.08
Interest Exp. to Revenue %	-5.73	-5.07	-5.14	-4.97	-4.81	-4.47	-4.00	-3.67	-11.26	-9.10	-5.25	-9.11	-9.10	-9.35	-8.95	-5.25

Asset Turnover	0.48	0.49	0.47	0.48	0.47	0.45	0.47	0.46	0.50	0.49	0.12	0.13	0.12	0.12	0.13	0.12
Buyback Ratio	-29.30	-2.20	-1.40	-2.30	-3.80	-5.50	-0.10	-1.70	-22.00	-1.70	-36.20	-2.80	-1.00	-1.90	-1.10	-36.20
Dividend Payout Ratio	0.62	0.70	0.63	0.63	0.29	0.65	0.72	0.61	0.69	0.64	0.77	0.71	0.53	0.74	0.61	0.77
Income Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Revenue	18,682	18,816	18,730	17,366	17,515	17,351	17,387	17,715	19,115	19,583	19,593	4,813	4,826	4,884	5,060	4,823
Cost of Goods Sold	11,401	11,401	11,283	10,181	4,088	4,341	4,436	4,852	11,635	11,855	11,770	2,859	2,765	2,905	3,201	2,899
Gross Profit	7,281	7,415	7,447	7,185	13,427	13,010	12,951	12,863	7,479	7,728	7,824	1,954	2,062	1,979	1,859	1,924

Selling, General, &Admin. Expense	--	--	373	503	6,590	6,144	6,001	5,816	401	105	179	83.33	80.39	23.53	43.14	32.35
Earnings Before DDA	7,058	5,964	7,022	6,334	6,508	6,013	6,433	6,827	7,078	7,598	7,619	1,871	1,981	1,956	1,790	1,891

Depreciation, Depletion and Amortization	3,085	3,047	3,053	3,068	3,136	3,204	3,305	3,227	3,197	3,322	3,334	809	825	837	850	822

Operating Income	3,973	2,917	3,969	3,266	3,372	2,808	3,128	3,600	3,881	4,276	4,284	1,062	1,156	1,119	940	1,070
Interest Income/Expense	-1,071	-954	-962	-863	-842	-775	-695	-650	-2,153	-1,781	-1,602	-438	-439	-457	-453	-253
Net Income	1,779	1,562	1,923	1,968	3,977	925	1,704	2,232	2,294	2,709	2,699	597	791	593	727	587

Preferred dividends	63.15	68.23	68.41	68.53	129	121	105	110	117	136	134	34.31	33.33	35.29	33.33	32.35
Earnings per Share ($)	2.03	1.77	2.19	2.21	4.77	0.99	2.07	2.79	2.82	3.32	3.32	0.73	0.98	0.73	0.90	0.72
Total Shares Outstanding	842	846	848	861	805	806	773	759	771	775	776	775	774	775	775	776
Balance Sheet	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Cash and cash equivalents	700	373	356	570	2,606	2,999	674	759	172	125	1,132	389	773	537	125	1,132
Accounts Receivable	2,036	2,077	1,732	1,831	1,902	1,801	1,574	1,750	3,100	2,888	2,754	2,803	2,713	2,816	2,888	2,754
Inventory	--	351	332	322	261	267	439	428	419	384	382	354	359	399	384	382
Other Current Assets	789	844	1,188	900	393	461	547	539	409	440	616	522	550	482	440	616
Total Current Assets	3,511	3,637	3,601	3,611	5,110	5,469	3,220	3,462	4,096	3,834	4,863	4,061	4,379	4,224	3,834	4,863

Property, Plant and Equipment	20,774	18,326	19,435	21,647	23,534	19,027	19,060	19,313	18,417	19,615	19,560	18,526	19,404	19,525	19,615	19,560
Intangible Assets	10,525	13,760	12,899	8,213	5,791	11,817	11,880	11,846	14,900	14,973	15,084	14,871	14,749	14,643	14,973	15,084
Other Long Term Assets	3,751	2,653	3,899	2,762	2,621	2,572	3,144	3,885	1,240	1,743	1,844	1,180	1,100	1,562	1,743	1,844
Total Assets	38,560	38,376	39,834	36,232	37,056	38,885	37,304	38,506	38,653	40,165	41,351	38,638	39,632	39,954	40,165	41,351

Accounts Payable	3,618	3,628	1,747	2,348	2,649	3,469	2,834	3,021	4,561	3,448	4,278	4,013	4,287	4,422	3,448	4,278
Current Portion of Long-Term Debt	1,507	1,250	1,346	966	703	2,158	588	1,303	2,065	2,094	3,070	2,339	1,496	1,532	2,094	3,070
Other Current Liabilities	26.52	471	2,410	1,295	1,052	479	1,270	1,476	-0.00	1,071	--	0.00	--	0.00	1,071	--
Total Current Liabilities	5,151	5,349	5,503	4,610	4,404	6,105	4,692	5,800	6,625	6,613	7,348	6,352	5,783	5,954	6,613	7,348

Long-Term Debt	12,150	11,578	11,881	11,635	10,412	9,902	10,097	10,374	12,472	13,614	13,724	12,433	13,819	13,746	13,614	13,724
Other Long-Term Liabilities	7,945	7,692	8,016	6,882	5,345	5,907	5,874	5,463	6,048	6,335	6,488	6,134	6,377	6,848	6,335	6,488
Total Liabilities	25,247	24,619	25,401	23,127	20,162	21,914	20,663	21,636	25,145	26,562	27,560	24,920	25,979	26,548	26,562	27,560

Common Stock	--	--	--	--	--	--	12,668	12,442	13,300	13,344	13,362	13,275	13,283	13,312	13,344	13,362
Preferred Stock	1,637	1,638	1,637	1,638	2,716	2,715	2,716	2,716	3,054	3,328	3,328	3,328	3,328	3,328	3,328	3,328
Retained Earnings	-5,716	-5,317	-4,670	-4,258	-1,646	-1,439	-1,274	-680	-5,279	-5,571	-5,425	-5,365	-5,464	-5,725	-5,571	-5,425
Additional Paid-In Capital	16,420	16,452	17,536	15,727	15,758	15,742	2,441	2,422	2,477	2,507	2,530	2,486	2,497	2,505	2,507	2,530
Treasury Stock	--	--	--	--	--	-84.52	--	--	--	--	--	--	--	--	--	--
Total Equity	13,314	13,757	14,433	13,106	16,894	16,971	16,641	16,870	13,508	13,603	13,791	13,719	13,653	13,406	13,603	13,791
Cashflow Statement	Annuals (USD $) View: $ %											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	TTM	Mar12	Jun12	Sep12	Dec12	Mar13

Net Income	1,808	1,468	1,878	1,854	3,977	925	1,704	2,232	2,524	2,993	2,989	663	862	675	793	659
Depreciation, Depletion and Amortization	3,085	3,047	3,053	3,068	3,136	3,204	3,305	3,227	3,197	3,322	3,334	809	825	837	850	822
Cash Flow from Discontinued Operations	--	--	--	--	--	--	1.96	--	--	--	--	--	--	--	--	--
Cash Flow from Others	1,360	1,085	534	289	-1,519	1,643	-231	-828	-947	-872	-1,035	-297	177	45.10	-797	-461
Cash Flow from Operations	6,254	5,600	5,465	5,210	5,595	5,772	4,779	4,631	4,774	5,443	5,288	1,175	1,865	1,558	846	1,020

Investment for Property, Plant & Equipement	-3,117	-3,299	-3,361	-3,071	-3,089	-2,930	-2,798	-2,901	-3,192	-3,446	-3,353	-801	-933	-816	-896	-708
Cash Flow from Acquisitions	-116	-1,274	-223	-69.67	2,902	-64.28	-321	-52.94	-665	-12.75	-10.78	-1.96	--	-2.94	-7.84	--
Cash Flow from Investing	-2,956	-3,788	-3,790	-2,124	280	-3,844	-3,143	-2,918	-3,808	-4,013	-3,930	-793	-929	-1,546	-744	-711

Net Issuance of Stock	169	31.76	-51.31	-1,474	-399	-40.47	-875	-452	404	-55.88	269	-86.27	8.82	12.75	8.82	238
Net Issuance of Preferred Stock	--	--	--	--	--	--	--	--	338	275	--	275	--	--	--	--
Net Issuance of Debt	-1,788	-726	-53.59	-424	-1,731	-442	-1,358	650	-5.88	476	1,324	188	-8.82	-103	400	1,035
Cash Flow for Dividends	-1,249	-1,354	-1,445	-1,229	-1,246	-702	-1,644	-1,761	-1,915	-2,114	-2,137	-505	-534	-179	-895	-528
Other Financing	-22.73	-98.81	-61.57	174	-461	-342	-88.24	-66.67	-372	-58.82	-71.57	-35.29	-17.65	22.55	-28.43	-48.04
Cash Flow from Financing	-2,891	-2,147	-1,611	-2,954	-3,837	-1,526	-3,965	-1,629	-1,550	-1,477	-617	-164	-552	-247	-515	697

Net Change in Cash	408	-335	63.85	134	2,036	398	-2,328	84.31	-584	-47.06	744	218	383	-235	-413	1,009

Free Cash Flow	3,137	2,301	2,104	2,139	2,505	2,843	1,981	1,730	1,581	1,997	1,935	374	931	742	-50.00	312
Valuation Ratios (Daily)	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

PE Ratio(ttm)
Price to Tangible Book
Price-to-Free-Cash-Flow ratio
PS Ratio
EV-to-Revenue
EV-to-EBITDA
EV-to-EBIT
Earnings Yield (Joel Greenblatt)
Forward Rate of Return
Shiller PE Ratio
Valuation and Quality	Annuals											Quarterly
Fiscal Period	Dec03	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Latest Q.	Mar12	Jun12	Sep12	Dec12	Mar13

Market Cap
Enterprise Value
Month End Stock Price
Net Cash (per share)
Net Current Asset Value (per share)
DCF (per share)
Median PS (per share)
Peter Lynch Fair Value (per share)
Graham Number (per share)
Altman Z-Score
Piotroski F-Score
Beneish M-Score

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