Quebecor Inc Cl A MV (TSE:QBR.A)
TSX:QBR.A
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Quebecor Inc Cl A MV
(TSX:QBR.A)
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Rating:71Outperform
Price Target:
C$68.00
â–²(24.22% Upside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by solid operating profitability and cash generation, tempered by a debt-heavy balance sheet and softer free-cash-flow momentum. Technicals are supportive with the stock trading above key moving averages, though near-overbought RSI adds caution. Valuation looks reasonable (P/E ~13.9 with a ~2.34% yield), and the latest earnings call was constructive with improving telecom trends and stronger capital returns, partially offset by nonrecurring tailwinds and higher investment needs.
Positive Factors
High profitability and cash generation
Sustained high margins and ~ $1.4B trailing free cash flow provide durable internal funding for network investment, dividends and buybacks. Recurring telecom subscriptions underpin cash conversion, supporting reinvestment and resilience versus cyclical media ad swings.
Negative Factors
Debt-heavy capital structure
Persistently high leverage constrains strategic optionality: it raises sensitivity to rates, limits capacity for large incremental investment or M&A, and forces prioritization of debt reduction versus growth. Even with improvement, leverage is a durable constraint on flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability and cash generation
Sustained high margins and ~ $1.4B trailing free cash flow provide durable internal funding for network investment, dividends and buybacks. Recurring telecom subscriptions underpin cash conversion, supporting reinvestment and resilience versus cyclical media ad swings.
Read all positive factors
Quebecor Inc Cl A MV (QBR.A) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$14.67B
Dividend Yield2.7%
Average Volume (3M)3.76K
Price to Earnings (P/E)14.8
Beta (1Y)-0.20
Revenue Growth1.93%
EPS Growth18.42%
CountryCA
Employees11,060
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)3.91
Shares Outstanding74,836,270
10 Day Avg. Volume4,459
30 Day Avg. Volume3,757
Financial Highlights & Ratios
PEG Ratio0.90
Price to Book (P/B)4.52
Price to Sales (P/S)2.09
P/FCF Ratio8.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.3
Revenue Forecast (FY)C$5.79B
Quebecor Inc Cl A MV Business Overview & Revenue Model
Company Description
Quebecor Inc., together with its subsidiaries, operates in the telecommunications, media, and sports and entertainment businesses in Canada. Its Telecommunications segment offers television distribution, Internet access, mobile and wireline teleph...
How the Company Makes Money
Quebecor makes money primarily through (1) telecommunications service revenues and (2) media/content-related revenues. Telecommunications is the core earnings engine: the company sells recurring subscription services to consumers and businesses, i...
Quebecor Inc Cl A MV Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operational and financial wins: solid free cash flow growth, Q4 and full-year revenue and EBITDA improvements (notably in telecom), positive mobile trends (net adds, mobile service revenue up 9.5%, ARPU turning positive), improved margins, a strengthened balance sheet (net debt/EBITDA down to 2.95x) and enhanced shareholder returns (dividend increase and buybacks). Offsetting items included nonrecurring accounting benefits in Media (retroactive royalty), significant share-based compensation expense that depressed reported EBITDA, continued structural challenges in the Media and Sports & Entertainment businesses, and a one-time working capital boost that may not repeat. Management expects continued measured CapEx increases to support growth and reiterated focus on profitable, disciplined growth. Overall, the positives—from cash flow, telecom momentum, margin expansion and balance sheet strength—outweighed the transitory and structural negatives.Positive Updates
Strong Free Cash Flow Growth
Free cash flow increased materially: up 21.9% in Q4 and up 27.3% for 2025. Management reported generating roughly $1.1 billion of free cash flow for 2025, with working capital contributing a one-time benefit (~$300 million) that management expects to be much smaller in 2026.
Negative Updates
Media Segment Structural Challenges and Nonrecurrence of Royalty Benefit
The improvement in TVA's EBITDA was materially driven by a favorable retroactive royalty adjustment recorded in Q4; management emphasized this is nonrecurring. TVA still carries cumulative net losses attributable to shareholders of $61 million, driven by declining conventional TV subscribers and advertising revenues and broader structural pressures from web giants and regulatory burden.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Free Cash Flow Growth
Free cash flow increased materially: up 21.9% in Q4 and up 27.3% for 2025. Management reported generating roughly $1.1 billion of free cash flow for 2025, with working capital contributing a one-time benefit (~$300 million) that management expects to be much smaller in 2026.
Read all positive updates
Company Guidance
Management gave directional (not numeric) guidance focused on disciplined capital allocation and modestly higher investment: the Board raised the quarterly dividend 14% to $0.40 and reiterated a target distribution band of roughly 30–50% of free cash flow (current payout ~35%), with free cash flow expected around $1.1 billion for 2026 (pre‑working‑capital) and upside possible as the ~$300 million 2025 working‑capital tailwind is unlikely to recur; the company will split FCF between debt reduction, dividends and buybacks (2025 buybacks: 5.3 million Class B shares for $218 million), aim to keep leverage near ~3.0x (net debt/EBITDA 2.95x at Q4), maintain >$1.6 billion liquidity (pro forma a $500 million revolver increase), continue gradual CapEx increases similar to 2025’s telecom rise (~$55 million year‑over‑year off a roughly $615 million telecom base) to fund 5G and wireline expansion, and capitalize on low‑cost financing (Nov 2025 $800 million senior notes at 3.95%).Quebecor Inc Cl A MV Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
52
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.73B | 5.68B | 5.64B | 5.43B | 4.53B | 4.55B |
| Gross Profit | 2.22B | 1.54B | 3.12B | 2.99B | 2.63B | 2.66B |
| EBITDA | 2.40B | 2.39B | 2.35B | 2.18B | 1.89B | 1.89B |
| Net Income | 890.70M | 856.00M | 747.50M | 650.50M | 599.70M | 578.40M |
Balance Sheet | ||||||
| Total Assets | 12.80B | 12.81B | 13.00B | 12.74B | 10.63B | 10.76B |
| Cash, Cash Equivalents and Short-Term Investments | 316.50M | 195.80M | 61.80M | 11.10M | 6.60M | 64.70M |
| Total Debt | 7.27B | 7.50B | 8.00B | 8.17B | 6.83B | 6.86B |
| Total Liabilities | 10.01B | 10.08B | 10.73B | 10.90B | 9.14B | 9.38B |
| Stockholders Equity | 2.68B | 2.63B | 2.16B | 1.73B | 1.36B | 1.26B |
Cash Flow | ||||||
| Free Cash Flow | 1.42B | 1.42B | 820.60M | 898.90M | 653.10M | -265.40M |
| Operating Cash Flow | 2.06B | 2.06B | 1.72B | 1.46B | 1.26B | 1.18B |
| Investing Cash Flow | -694.80M | -675.80M | -921.90M | -2.68B | -631.30M | -1.54B |
| Financing Cash Flow | -1.32B | -1.29B | -712.20M | 1.18B | -812.60M | 281.90M |
Quebecor Inc Cl A MV Technical Analysis
Positive
54.74
Price Trends
58.07
Positive
55.14
Positive
50.09
Positive
Market Momentum
1.84
Negative
77.78
Negative
100.00
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:QBR.A, the sentiment is Positive. The current price of 54.74 is below the 20-day moving average (MA) of 58.21, below the 50-day MA of 58.07, and above the 200-day MA of 50.09, indicating a bullish trend. The MACD of 1.84 indicates Negative momentum. The RSI at 77.78 is Negative, neither overbought nor oversold. The STOCH value of 100.00 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:QBR.A.
Quebecor Inc Cl A MV Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | C$14.67B | 14.83 | 35.07% | 2.70% | 1.93% | 18.42% | |
71 Outperform | C$26.83B | 16.49 | 40.28% | 3.94% | 7.44% | 297.46% | |
67 Neutral | C$31.00B | 12.53 | 29.69% | 7.42% | 1.55% | 1496.64% | |
62 Neutral | C$2.72B | 9.50 | 9.93% | 5.69% | -4.35% | -3.51% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | C$26.65B | 51.31 | 6.41% | 9.49% | 0.13% | -23.84% | |
58 Neutral | C$613.18M | 9.19 | 9.64% | 5.98% | -4.10% | -2.14% |
* Communication Services Sector Average
TSE:QBR.A
Quebecor Inc Cl A MV
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Quebecor Inc Cl A MV Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
Quebecor Lifts Profit, Cash Flow and Dividend on Telecom Growth and Network Expansion
Positive
Feb 26, 2026
Quebecor reported 2025 revenues of $5.68 billion and adjusted EBITDA of $2.39 billion, with free cash flow jumping 27.3% to $1.43 billion and adjusted net income rising 17.8% to $879.7 million. Net income attributable to shareholders reached $856....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.