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Quebecor Inc Cl A MV
(TSX:QBR.A)
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Rating:71Outperform
Price Target:
C$76.00
â–²(21.60% Upside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by solid financial performance (strong margins and improved free cash flow) and a positive earnings-call outlook (stable-to-improving FCF guidance plus higher shareholder returns). These positives are moderated by leverage that remains meaningful despite improvement, mixed near-term technical momentum (slightly negative MACD), and a mid-range valuation for a low-growth revenue profile.
Positive Factors
Free Cash Flow Generation
The company has rebuilt durable cash generation: TTM operating cash flow and a sharp FCF rebound (FCF ~75% of net income TTM) convert earnings into real liquidity. That supports sustained deleveraging, disciplined capex, buybacks and a raised dividend over the medium term.
Negative Factors
Elevated Leverage
Leverage, while improved, remains material for a mature telecom with modest top-line growth. Higher debt ratios limit financial flexibility for large-scale investment or shocks, increase interest expense sensitivity and constrain how aggressively management can fund M&A or accelerate network rollouts.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Generation
The company has rebuilt durable cash generation: TTM operating cash flow and a sharp FCF rebound (FCF ~75% of net income TTM) convert earnings into real liquidity. That supports sustained deleveraging, disciplined capex, buybacks and a raised dividend over the medium term.
Read all positive factors
Quebecor Inc Cl A MV (QBR.A) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$14.15B
Dividend Yield2.62%
Average Volume (3M)173.00
Price to Earnings (P/E)15.3
Beta (1Y)-0.21
Revenue Growth3.12%
EPS Growth24.49%
CountryCA
Employees11,000
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)4.17
Shares Outstanding74,742,620
10 Day Avg. Volume68
30 Day Avg. Volume173
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)4.25
Revenue Forecast (FY)C$5.85B
Quebecor Inc Cl A MV Business Overview & Revenue Model
Company Description
Founded in 1965 and headquartered in Montreal, Canada, Quebecor Inc. operates across the telecommunications, media, and sports and entertainment sectors via its various subsidiaries. Its Telecommunications division provides a comprehensive suite o...
How the Company Makes Money
Quebecor primarily makes money from recurring subscription and usage-based fees from its telecommunications operations. The largest revenue drivers are typically: (1) Wireless services: monthly service plans, data overage/usage, device financing/h...
Quebecor Inc Cl A MV Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented predominantly positive operational and financial momentum: record Telecom performance, accelerating wireless subscriber additions and ARPU growth, double-digit improvement in free cash flow, a stronger balance sheet and an increased shareholder return package (dividend raise and renewed NCIB). Strategic steps such as the majority investment in Etiya signal potential medium-term efficiency and revenue upside from BSS and AI-driven improvements. Offsetting items include elevated stock-based compensation suppressing reported EBITDA, persistent structural pressures in the Media segment (including unresolved NHL rights and severance costs), isolated Sports & Entertainment weakness, and the need to continue network work in Western Canada which entails additional investment and execution risk. On balance, the highlights materially outweigh the lowlights, indicating a confident but pragmatic outlook.Positive Updates
Free Cash Flow Growth
Free cash flow increased by $44 million or 12% year-over-year to $419 million in Q2 2026, supporting continued investment, buybacks and a dividend increase.
Negative Updates
Stock-Based Compensation Drag on EBITDA
Share-based compensation increased by approximately $40 million in the quarter and by $87 million year-to-date, materially holding back reported EBITDA growth (management states EBITDA ex-SBC would have been significantly higher).
Read all updates
Q2-2026 Updates
Positive
Negative
Free Cash Flow Growth
Free cash flow increased by $44 million or 12% year-over-year to $419 million in Q2 2026, supporting continued investment, buybacks and a dividend increase.
Read all positive updates
Company Guidance
Management reiterated 2026 guidance that free cash flow should be broadly stable — or slightly better — year‑over‑year, pointing to Q2 free cash flow of $419M (up 12% y/y) and healthy cash from operations of $570M in the quarter; they said CapEx will remain in line with prior guidance (Q2 CapEx ~ $174M; Telecom CapEx ex‑spectrum +$18M or +12% with slightly heavier Q2 and Q4 phasing). The company will continue to prioritize deleveraging and disciplined capital allocation (net debt/EBITDA 2.87x, available liquidity $926M, USD 1.0B commercial paper program now operational), while returning capital via a renewed NCIB (3.1M Class B shares repurchased YTD for $185M, nearly $100M repurchased in the quarter) and a raised quarterly dividend to $0.45/share (up 12.5%).Quebecor Inc Cl A MV Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
55
Neutral
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.79B | 5.68B | 5.64B | 5.43B | 4.53B | 4.55B |
| Gross Profit | 1.83B | 1.54B | 3.12B | 2.99B | 2.63B | 2.66B |
| EBITDA | 2.44B | 2.39B | 2.35B | 2.18B | 1.89B | 1.89B |
| Net Income | 943.90M | 856.00M | 747.50M | 650.50M | 599.70M | 578.40M |
Balance Sheet | ||||||
| Total Assets | 12.95B | 12.81B | 13.00B | 12.74B | 10.63B | 10.76B |
| Cash, Cash Equivalents and Short-Term Investments | 124.70M | 195.80M | 61.80M | 11.10M | 6.60M | 64.70M |
| Total Debt | 7.17B | 7.20B | 8.00B | 8.17B | 6.83B | 6.86B |
| Total Liabilities | 9.97B | 10.08B | 10.73B | 10.90B | 9.14B | 9.38B |
| Stockholders Equity | 2.74B | 2.63B | 2.16B | 1.73B | 1.36B | 1.26B |
Cash Flow | ||||||
| Free Cash Flow | 1.57B | 1.42B | 820.60M | 898.90M | 653.10M | -265.40M |
| Operating Cash Flow | 2.09B | 2.06B | 1.72B | 1.46B | 1.26B | 1.18B |
| Investing Cash Flow | -776.00M | -675.80M | -921.90M | -2.68B | -631.30M | -1.54B |
| Financing Cash Flow | -1.26B | -1.29B | -712.20M | 1.18B | -812.60M | 281.90M |
Quebecor Inc Cl A MV Technical Analysis
Neutral
62.50
Price Trends
65.46
Negative
63.95
Negative
58.40
Positive
Market Momentum
-1.22
Positive
45.68
Neutral
67.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:QBR.A, the sentiment is Neutral. The current price of 62.5 is below the 20-day moving average (MA) of 63.20, below the 50-day MA of 65.46, and above the 200-day MA of 58.40, indicating a neutral trend. The MACD of -1.22 indicates Positive momentum. The RSI at 45.68 is Neutral, neither overbought nor oversold. The STOCH value of 67.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | C$28.18B | 4.49 | 32.78% | 3.86% | 8.73% | 302.65% | |
71 Outperform | C$14.15B | 15.33 | 35.86% | 2.62% | 3.12% | 24.49% | |
67 Neutral | C$30.58B | 4.86 | 27.73% | 5.34% | 1.59% | 1374.54% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | C$2.56B | -2.29 | -38.76% | 6.53% | -4.86% | -440.35% | |
55 Neutral | C$544.53M | -1.56 | -43.86% | 6.99% | -4.64% | -491.61% | |
50 Neutral | C$21.28B | -23.37 | -6.56% | 12.48% | -1.06% | -188.85% |
* Communication Services Sector Average
TSE:QBR.A
Quebecor Inc Cl A MV
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19.95
47.45%
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Quebecor Inc Cl A MV Corporate Events
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresM&A Transactions
Quebecor lifts profit, dividend and BSS push on strong Q2 telecom growth
Positive
Aug 6, 2026
Quebecor reported a strong second quarter of 2026, with free cash flow up 11.7% to $418.7 million, revenue rising 4.3% to $1.44 billion and adjusted EBITDA increasing 3.7%, or 9.8% excluding stock-based compensation. Telecom remained the growth en...
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.