BCE (TSX:BCE.PR.R.PFD) EBIT : C$4,839.00 Mil (TTM As of Dec. 2023)

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What is BCE EBIT?

BCE's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was C$1,054.00 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was C$4,839.00 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BCE's annualized ROC % for the quarter that ended in Dec. 2023 was 5.06%. BCE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 13.93%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. BCE's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 32.62%.

BCE EBIT Historical Data

The historical data trend for BCE's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

BCE EBIT Chart

BCE Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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5,541.00

4,421.00

5,049.00

5,072.00

4,839.00

BCE Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															1,116.00	1,412.00	1,039.00	1,334.00	1,054.00

Competitive Comparison of BCE's EBIT

For the Telecom Services subindustry, BCE's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

BCE's EV-to-EBIT Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, BCE's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where BCE's EV-to-EBIT falls into.

BCE EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$4,839.00 Mil.

BCE (TSX:BCE.PR.R.PFD) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

BCE's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	5256 * ( 1 - 32.56% )	/	( (69604	+	70589)	/ 2 )
=	3544.6464	/	70096.5
=	5.06 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	70372	-	5801	-	( 619	-	max(0, 11770	-	6737	+	619	))
=	69604

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	71940	-	5560	-	( 1772	-	max(0, 12107	-	7898	+	1772	))
=	70589

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

BCE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4216	/	( ( (30158 + max(-885, 0))	+	(30352 + max(-1769, 0)) )	/	2 )
=	4216	/	( ( 30158	+	30352 )	/	2 )
=	4216	/	30255
=	13.93 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3838	+	636	+	1240)	-	(5801	+	798	+	0)
=	-885

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3841	+	465	+	1187)	-	(5560	+	811	+	891)
=	-1769

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

BCE's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	4839	/	14833.000
	=	32.62 %

BCE EBIT Related Terms

Thank you for viewing the detailed overview of BCE's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.

BCE (TSX:BCE.PR.R.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » BCE Inc (TSX:BCE.PR.R.PFD) » Definitions » EBIT

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Address

1 Carrefour Alexander Graham Bell, Tour A-7, Verdun, QC, CAN, H3E 3B3

Website

https://www.bce.ca

BCE provides wireless, broadband, television, and landline phone services in Canada. It is one of the big three national wireless carriers, with its roughly 10 million customers constituting about 30% of the market. It is also the ILEC (incumbent local exchange carrier—the legacy telephone provider) throughout much of the eastern half of Canada, including in the most populous Canadian provinces: Ontario and Quebec. Additionally, BCE has a media segment, which holds television, radio, and digital media assets. BCE licenses the Canadian rights to movie channels including HBO, Showtime, and Starz. In 2022, the wireline segment made up 52% of total EBITDA, while wireless was 31% and media provided the remainder.

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