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ZYBERNO

Stock Report

Updated Aug 24, 2026

BCE INC. (BCEFF)

Technology • OTC

$15.40

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

17.0/100

POOR BUSINESS

BCE INC. (BCEFF) scores 17/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full BCEFF quality analysis & detailed breakdown

VALUATION SIGNAL

MARGIN OF SAFETY

Is this stock cheap or expensive relative to what the business has historically generated for owners?

+65.8%

Undervalued

Growth gap unavailable — insufficient data for reverse DCF calculation.

⚠ Owner Earnings and Free Cash Flow show moderate divergence (0.48×). Intrinsic Value and Brina Gap may be overstated — possibly from acquisition-related D&A. Treat both signals as upper bounds.

🎯 Expected Annual Return →

23.3%

5-year annualised assuming price converges to intrinsic value

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full BCEFF valuation analysis · → View full BCEFF Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (0.0%)

Debt-to-Equity (Solvency Risk):POOR (1.50x)

Operating Margin (Operational Efficiency):CRITICAL (0.0%)

Return on Capital (Capital Efficiency):CRITICAL (0.0%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

BCE INC. (BCEFF) stock report — Zyberno Score 17/100 (POOR BUSINESS), Margin of Safety +65.8%, 23% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, BCE INC. (BCEFF) trades at $15.40 against an estimated intrinsic value per share of $45.00 — a +65.8% Margin of Safety based on Owner Earnings of $3.47B TTM, projected at -0.5% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of 23.3% annually.

Over the trailing twelve months, BCEFF generated $3.47B in Owner Earnings. Capital was deployed as follows: $1.55B paid as dividends. Owner Earnings have declined at 0.5% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:15.40

Market Cap:$14.05B

Valuation Multiples (2)

P/B Ratio:0.85x

Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$38.90B

Ev Ebitda Ratio:10.43x

Pfcf Ratio:5.99x

Price Action & Momentum (3)

12-1 Momentum:

+21.7% (77th pctile)

📈 Click to view full BCEFF Momentum analysis →

Momentum Percentile:77 / 100

% of 52-Week High:42.5%

B. Profitability Assessment

Margin Analysis (1)

Ebitda Margin:21.4%

Yield Metrics (3)

Earnings Yield:-$999.00

Owner Earnings Yield:$24.70

Dividend Yield:11.0%

C. Log-Linear Regression Growth Trends

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):1.0%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):-2.2%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):0.1%

Operating Cash Flow Growth Rate (Linear):-0.6%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.58x

Quick Ratio:0.55x

Cash Ratio:0.00x

Leverage Analysis (3)

Debt To Equity Ttm:1.50x

Debt-to-Equity Ratio:1.50x

Debt To Ebitda:6.66x

Coverage Ratios (2)

Interest Coverage Ratio:0.00x

Times Interest Earned:0.00

Capital Structure (4)

Working Capital:-3,879,099,508.00

Cash And Cash Equivalents:0.00

Long Term Debt:$24.85B

Net Debt:$24.85B

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $17.42B

Linear Growth: 98.0%

📊 Click to view full BCEFF Revenue analysis & methodology →

Cost Of Revenue Ttm:$5.50B

Profitability Breakdown (2)

Gross profit TTM: $11.92B

Linear Growth: 53.0%

📊 Click to view full BCEFF Gross Profit analysis & methodology →

$0.00

Bottom Line Performance (3)

Net income TTM: $4.64B

Linear Growth: -2.2%

📊 Click to view full BCEFF Net Income analysis & methodology →

Income Before Tax:$0.00

Ebitda Ttm:3,728,890,296.00

Operating Expenses (5)

Operating Expenses:0.00

R And D Expense:0.00

Sga Expense:0.00

Income Tax Expense:$694.81M

Interest Expense:1,064,990,432.00

Expense Ratios (3)

R And D To Revenue Percentage:0.0%

Sga To Revenue Percentage:0.0%

Ebitda Margin:21.4%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$57.07B

Current Assets:$5.27B

Ppe Net:21,015,051,840.00

Goodwill:9,419,043,052.00

Intangible Assets:$12.27B

Liability Structure (4)

Total Liabilities:40,474,619,660.00

Current Liabilities:9,152,083,552.00

Long Term Debt:$24.85B

Short Term Debt:$0.00

Equity & Capital (3)

Equity:$16.59B

Retained Earnings:$0.00

Common Stock:0.00

Working Capital Items (3)

Accounts Receivable:3,185,004,808.00

Inventory:276,925,988.00

Accounts Payable:3,126,629,664.00

Special Items (2)

Contract Liabilities:0.00

Stock Based Compensation:0.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $4.98B

Linear Growth: -57.0%

Free cash flow TTM: $2.34B

Linear Growth: 6.0%

📊 Click to view full BCEFF Free Cash Flow analysis & methodology →

Investment Activities (1)

Investing Cash Flow:-$533.92M

Financing Activities (3)

Financing Cash Flow:-$1.24B

Dividends Paid Ttm:1,549,788,884.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (1)

Earnings Per Share Ttm:$5.08

Revenue & Cash Per Share (2)

Sales Per Share Ttm:19.09

Operating Cash Flow Per Share:$5.46

Book Value & Capital (2)

Book Value Per Share:$18.19

Cash Per Share:-999.00

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.31x

Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:5.47x

Days Sales Outstanding Ttm:66.74

Inventory Management (2)

Inventory Turnover Ttm:19.85x

Days Inventory Outstanding Ttm:18.39

Payables & Cash Cycle (2)

Days Payable Outstanding:207.65

Cash Conversion Cycle:-122.52

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:0.00

Quality Score:75.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $3.47B

Linear Growth: -46.3%

📊 Click to view full BCEFF Owner Earnings analysis & methodology →

Owner Earnings Per Share:$3.80

Owner Earnings Yield:$24.70

Growth Assessment (1)

Owner Earnings Growth Rate:-$0.46

Intrinsic Value Models (1)

Intrinsic Value:

$41.05B

📊 Click to view full BCEFF DCF valuation →

Margin of Safety (1)

Margin Of Safety:

65.8%

📊 Click to view full BCEFF valuation analysis →

Return Scenarios (1)

Theoretical 5-Year Return:

23.3%

📊 Click to view full BCEFF expected return analysis →

Investment Assessment (1)

Buffett Assessment:Excellent margin of safety

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (2)

Revenue Growth Rate (Linear):1.0%

Net Income Growth Rate (Linear):-2.2%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):0.1%

Operating Cash Flow Growth Rate (Linear):-0.6%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):0.5%

Owner Earnings Growth Rate:-$0.46

C. Company Profile & Context

Corporate Information (6)

Symbol:BCEFF

Company Name:BCE INC.

Sector:Technology

Industry:Telecommunications

Exchange:OTC

Country:Unknown

Market Classification (3)

Market Cap Category:N/A

Price Category:medium

Volume Category:N/A

Share Structure (3)

Shares Outstanding:912.27M

Shares Outstanding Basic:0

Shares Outstanding Diluted:0

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-08-24 23:44:41 UTC

Data Timestamp:2026-08-24T23:44:41.180930