TELUS Corporation (TU) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.14	$0.11	-21.4%	—	$4.9B	—
Q1 26	$0.16	$0.17	+6.3%	—	$5B	—
Q4 25	$0.18	$0.15	-16.7%	—	$5.2B	—
Q3 25	$0.19	$0.17	-10.5%	—	$5.1B	—
Q2 25	$0.17	$0.16	-5.9%	—	$5B	—
Q1 25	$0.16	$0.19	+18.8%	—	$5B	—
Q4 24	$0.16	$0.17	+6.3%	—	$3.9B	—
Q3 24	$0.17	$0.2	+17.6%	—	$3.6B	—
Q2 24	$0.16	$0.18	+12.5%	—	$4.9B	—
Q1 24	$0.17	$0.19	+11.8%	—	$4.9B	—
Q4 23	$0.17	$0.18	+5.9%	—	$5.2B	—
Q3 23	$0.18	$0.18	0.0%	—	$5B	—
Q2 23	$0.17	$0.14	-17.6%	—	$4.9B	—
Q1 23	$0.19	$0.2	+5.3%	—	$4.9B	—
Q4 22	$0.21	$0.17	-19.0%	—	$5B	—
Q3 22	$0.24	$0.25	+4.2%	—	$4.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.73	—	—	$20.3B	—
FY24	—	$0.67	—	—	$14.9B	—
FY23	—	$0.58	—	—	$20B	—
FY22	—	$1.16	—	—	$18.3B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$12.7B	$13.3B	$14.1B	$14.6B	$15.3B	$16.8B	$18.3B	$20B	$14.9B	$20.3B
YoY change	+2.37%	+4.56%	+5.94%	+3.5%	+5.15%	+9.76%	+8.64%	+9.36%	-25.7%	+36.8%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	12.7B	13.3B	14.1B	14.6B	15.3B	16.8B	18.3B	20B	14.9B	20.3B
Cost of revenue	5.6B	5.9B	6.4B	6.1B	6.3B	6.7B	7.1B	7.5B	5.6B	7.7B
Gross profit	7.1B	7.4B	7.7B	8.5B	9.1B	10.1B	11.2B	12.5B	9.2B	12.6B
Gross margin	55.7%	55.6%	54.8%	58.4%	59.1%	60.2%	61.1%	62.3%	62.1%	62.1%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	2.9B	2.6B	2.9B	3B	3.7B	4.3B	4.9B	6.1B	4.4B	5.9B
Operating expenses	2.9B	2.6B	2.9B	3B	3.7B	4.3B	4.9B	6.1B	4.4B	5.9B
Operating income	2.1B	2.7B	2.6B	2.9B	2.4B	2.7B	2.8B	2.3B	1.9B	2.7B
Operating margin	16.8%	20.1%	18.4%	20.1%	15.5%	15.8%	15.5%	11.3%	12.7%	13.3%
Non-operating income, net	22M	76M	219M	12M	73M	401M	328M	89M	30.3M	-39M
Pretax income	1.7B	2.2B	2.2B	2.2B	1.7B	2.3B	2.3B	1.1B	906.9M	1.2B
Income tax	426M	590M	552M	468M	451M	580M	604M	222M	214.2M	425M
Net income	1.2B	1.6B	1.6B	1.8B	1.3B	1.7B	1.7B	867M	692.7M	777M
Net margin	9.71%	11.9%	11.5%	12.2%	8.21%	10.1%	9.39%	4.33%	4.66%	3.82%
EBITDA	4.2B	4.8B	4.9B	5.5B	5.4B	5.9B	6.3B	6.4B	5B	6.9B
EPS	1.03	1.23	1.34	1.45	0.95	1.23	1.16	0.58	0.67	0.73
Diluted EPS	1.03	1.23	1.34	1.45	0.94	1.22	1.15	0.58	0.67	0.72

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	5B	5.2B	4.9B	4.9B	3.6B	3.9B	5B	5B	5.1B	5.2B	5B	4.9B
Cost of revenue	1.9B	2.1B	1.8B	1.8B	1.3B	1.6B	1.8B	1.9B	1.9B	2.1B	1.9B	1.9B
Gross profit	3.1B	3.1B	3.1B	3.1B	2.3B	2.4B	3.2B	3.2B	3.1B	3.2B	3.1B	3.1B
Gross margin	62.8%	59.5%	62.8%	62.8%	63%	59.9%	63.2%	63.1%	61.7%	60.6%	62.8%	62%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.6B	1.4B	1.5B	1.5B	1.1B	1.1B	1.5B	1.5B	1.4B	1.5B	1.6B	1.5B
Operating expenses	1.6B	1.4B	1.5B	1.5B	1.1B	1.1B	1.5B	1.6B	1.4B	1.4B	1.6B	1.5B
Operating income	494M	645M	501M	605M	516.5M	539.8M	706M	619M	696M	687M	502M	549M
Operating margin	9.9%	12.5%	10.3%	12.3%	14.4%	13.7%	14.1%	12.3%	13.7%	13.1%	10.1%	11.2%
Non-operating income, net	-6M	88M	7M	29M	-56.3M	62M	39M	-464M	324M	62M	61M	-2.1B
Pretax income	165M	386M	181M	300M	220.1M	323.5M	408M	-198M	588M	404M	199M	-2B
Income tax	28M	76M	41M	79M	37M	87.1M	107M	47M	157M	114M	55M	-162M
Net income	137M	310M	140M	221M	183.1M	236.3M	301M	-245M	431M	290M	144M	-1.8B
Net margin	2.75%	6.01%	2.88%	4.51%	5.1%	6%	6%	-4.87%	8.51%	5.54%	2.89%	-37.2%
EBITDA	1.5B	1.7B	1.6B	1.6B	1.2B	1.4B	1.7B	1.7B	1.7B	1.8B	1.5B	1.6B
EPS	0.09	—	0.09	0.15	0.19	—	0.21	0	0.32	0.19	0.09	-1.17
Diluted EPS	0.09	—	0.09	0.15	0.19	—	0.21	0	0.32	0.19	0.09	-1.17

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	27.4B	32.6B	28.7B	33.9B	36.7B	46.1B	39.2B	—	—	—	13.2B
Enterprise value	40.4B	46.4B	42.9B	52.5B	57.1B	67.1B	64.3B	—	—	—	31.4B
Shares outstanding	1.7B	1.7B	1.7B	1.7B	1.9B	2B	2B	1.5B	1.1B	1.5B	1.5B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	22.2	20.7	17.7	19.1	29.1	27.1	22.8	—	—	—	25
P/S	2.15	2.45	2.04	2.32	2.39	2.74	2.14	—	—	—	0.66
P/B	3.03	3.45	2.78	3.18	2.92	2.87	2.22	—	—	—	1.39
EV/EBITDA	9.64	9.57	8.83	9.5	10.6	11.4	10.2	—	—	—	8.95
EV/Sales	3.18	3.49	3.05	3.6	3.72	3.98	3.52	—	—	—	2.2
Earnings yield	4.51%	4.84%	5.65%	5.24%	3.44%	3.68%	4.39%	—	—	—	4%
FCF yield	1.18%	2.65%	4.12%	0.1%	4.78%	-2.01%	2.97%	—	—	—	12.9%
PEG	—	—	—	—	—	—	—	—	—	—	0

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	55.7%	55.6%	54.8%	58.4%	59.1%	60.2%	61.1%	62.3%	62.1%	62.1%	62%
Operating margin	16.8%	20.1%	18.4%	20.1%	15.5%	15.8%	15.5%	11.3%	12.7%	13.3%	15.1%
Net margin	9.71%	11.9%	11.5%	12.2%	8.21%	10.1%	9.39%	4.33%	4.66%	3.82%	-4.55%
ROE	13.7%	16.7%	15.7%	16.7%	10%	10.6%	9.73%	5.01%	5.58%	4.69%	-6.39%
ROA	4.25%	5.08%	4.91%	4.68%	2.91%	3.54%	3.18%	1.54%	1.62%	1.3%	3.41%
ROIC	7.23%	8.37%	7.87%	7.93%	5.3%	5.36%	4.91%	4.03%	4.2%	3.64%	5.34%
Return on tangible assets	159.5%	124.7%	95.8%	105.8%	-110.2%	-111.2%	-64.3%	-25.3%	-22.1%	-39.6%	115.2%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.7	0.77	0.79	0.78	0.79	0.61	0.74	0.67	0.68	0.86	0.67
Quick ratio	0.64	0.69	0.72	0.7	0.72	0.55	0.67	0.62	0.61	0.81	0.62
Debt / equity	1.44	1.45	1.37	1.74	1.62	1.31	1.42	1.59	1.77	1.9	2.24
Debt / assets	0.45	0.44	0.43	0.49	0.47	0.44	0.46	0.49	0.51	0.53	0.55
Net debt / EBITDA	—	—	—	—	—	—	—	—	—	—	3.2
Interest coverage	4.27	4.71	4.39	4.17	3.29	3.83	3.68	1.84	1.87	1.79	0.51
Effective tax rate	25.6%	27.2%	25.4%	20.9%	26.4%	25.5%	26%	20.4%	23.6%	35.4%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	7.4	7.72	8.12	8.34	8.28	8.61	9.02	13.8	13.5	13.3	13
EPS (basic)	1.03	1.23	1.34	1.45	0.95	1.23	1.16	0.58	0.67	0.73	0.73
EPS (diluted)	1.03	1.23	1.34	1.45	0.94	1.22	1.15	0.58	0.67	0.72	-0.42
Book value per share	5.25	5.49	5.96	6.09	6.78	8.21	8.71	11.9	11.3	10.8	6.03
FCF per share	0.19	0.5	0.68	0.02	0.95	-0.47	0.57	0.89	0.98	1.54	1.29
Cash per share	—	—	—	—	—	—	—	—	—	—	0.88
Capex per share	1.6	1.79	1.66	1.69	1.52	1.58	1.8	2.19	1.85	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	21.6%	23.2%	20.4%	20.2%	18.4%	18.4%	19.9%	15.9%	13.7%	—	—
Capex / operating cash flow	91.1%	81.2%	68.6%	78.1%	67.6%	70%	76.3%	67.3%	59.1%	—	—
Payout ratio	86.6%	68.6%	70.3%	64.7%	73.8%	61.5%	69.2%	151.7%	166.5%	209.5%	278.2%
Dividend yield	3.91%	3.32%	3.97%	3.39%	2.54%	2.27%	3.03%	—	—	—	6.54%

Yield

6.54%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.136

ex-dividend Sep 10, 2026

Payout ratio

278%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 10, 2026	$0.136
Jun 10, 2026	$0.30
Mar 11, 2026	$0.308

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$5B	$5.2B	$4.9B	$4.9B	$3.6B	$3.9B	$5B	$5B	$5.1B	$5.2B	$5B	$4.9B
YoY change	+7.54%	+2.65%	-1.2%	-0.69%	-28%	-23.6%	+3.12%	+2.67%	+41.1%	+32.8%	-0.58%	-2.21%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	—	—	—	—	—	—	—	—	—	—
Receivables	1.3B	1.3B	1.4B	1.7B	2.1B	2.4B	3B	3.3B	2.5B	3.3B
Inventory	320M	380M	376M	437M	407M	448M	537M	484M	464.5M	482M
Total current assets	3.4B	3.9B	3.8B	4.4B	4.7B	5B	6.1B	6.3B	4.9B	8.4B
Property, plant & equipment	35.8B	37B	38.8B	10.9B	11.6B	12.4B	13.3B	13.4B	9.8B	13.4B
Goodwill & intangibles	28.3B	29.8B	31.4B	36.3B	44.4B	49.5B	56.7B	59.6B	46B	61.6B
Total assets	29.1B	31.1B	33.1B	38B	43.3B	48B	54.1B	56.1B	42.8B	59.6B
Accounts payable	2.3B	717M	686M	892M	855M	1.2B	1.4B	996M	831.5M	982M
Short-term debt	1.4B	1.5B	936M	1.4B	1.5B	3B	2.6B	4.1B	3.1B	4B
Total current liabilities	4.8B	5B	4.8B	5.6B	5.9B	8.3B	8.3B	9.5B	7.3B	9.7B
Long-term debt	11.6B	12.3B	13.3B	17.1B	18.9B	17.9B	22.5B	23.4B	18.9B	27.4B
Total liabilities	20B	21.6B	22.7B	27.3B	30.7B	31.9B	36.4B	38.8B	30.4B	43B
Shareholders' equity	9B	9.5B	10.3B	10.7B	12.6B	16.1B	17.7B	17.3B	12.4B	16.6B
Total debt	13B	13.8B	14.2B	18.6B	20.4B	21B	25.1B	27.5B	22B	31.5B
Net debt	—	—	—	—	—	—	—	—	—	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	—	—	—	—	—	—	—	—	—	—	—	—
Receivables	3.1B	3.3B	3.2B	3.2B	2.3B	2.5B	3.1B	3.2B	3.2B	3.3B	2.6B	2.5B
Inventory	550M	484M	539M	530M	350.5M	464.5M	566M	485M	455M	482M	458M	461M
Total current assets	6.5B	6.3B	7.6B	6.4B	4.4B	4.9B	6.7B	9.3B	7.4B	8.4B	7.2B	7.1B
Property, plant & equipment	13.6B	13.4B	13.4B	13.5B	9.6B	9.8B	13.3B	13.5B	13.6B	13.4B	13.5B	13.7B
Goodwill & intangibles	59.7B	59.6B	59.7B	61.7B	44B	46B	62.1B	61.9B	61.9B	61.6B	62.1B	57.6B
Total assets	56.5B	56.1B	57.6B	57.3B	40.6B	42.8B	58B	60.6B	58.9B	59.6B	58.9B	56.8B
Accounts payable	965M	996M	964M	998M	723.8M	831.5M	1.1B	913M	1.1B	982M	994M	1.1B
Short-term debt	4.5B	4.1B	5B	4.4B	2.5B	3.1B	5.1B	5.4B	4.1B	4B	5B	5B
Total current liabilities	9.8B	9.5B	10.1B	9.7B	6.3B	7.3B	10.5B	10.9B	9.8B	9.7B	10.7B	10.7B
Long-term debt	23.5B	23.4B	24.4B	24.8B	18.1B	18.9B	24.9B	27.7B	25.8B	27.4B	26B	26.4B
Total liabilities	39B	38.8B	40.4B	40.3B	28.5B	30.4B	41.2B	44.5B	41.3B	43B	42.5B	42.7B
Shareholders' equity	17.5B	17.3B	17.2B	17B	12.1B	12.4B	16.8B	16.1B	17.5B	16.6B	16.4B	14.1B
Total debt	27.9B	27.5B	29.5B	29.2B	20.6B	22B	30B	33.1B	29.9B	31.5B	31.1B	31.5B
Net debt	—	—	—	—	—	—	—	—	—	—	—	—

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.2B	1.6B	1.6B	1.8B	1.3B	1.7B	1.7B	867M	692.7M	777M
Depreciation & amortization	2B	2.2B	2.3B	2.6B	3B	3.2B	3.5B	4.1B	3B	4B
Stock-based compensation	-2M	17M	16M	-2M	27M	139M	122M	117M	111.5M	144M
Change in working capital	-177M	-295M	313M	-405M	2M	-331M	-310M	2M	-140.3M	30M
Operating cash flow	3B	3.8B	4.2B	3.8B	4.2B	4.4B	4.8B	4.7B	3.4B	4.9B
Capital expenditure	-2.8B	-3.1B	-2.9B	-3B	-2.8B	-3.1B	-3.6B	-3.2B	-2B	—
Investing cash flow	-2.8B	-3.6B	-3B	-4.1B	-6.2B	-3.2B	-5.4B	-4.7B	-2.3B	-525M
Dividends paid	-1.1B	-1.1B	-1.1B	-1.1B	-930M	-1B	-1.2B	-1.3B	-1.2B	-1.6B
Share repurchases	-179M	0	-100M	0	—	—	—	—	—	-40M
Financing cash flow	-87M	-227M	-1.2B	1.2B	1.9B	953M	848M	139M	-843.3M	-74M
Net change in cash	155M	-77M	38M	916M	-86M	2.1B	219M	149M	332.3M	4.3B
Free cash flow	322M	866M	1.2B	33M	1.8B	-928M	1.2B	1.3B	1.1B	2.4B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	137M	310M	140M	221M	183.1M	236.3M	301M	-245M	431M	290M	144M	-1.8B
Depreciation & amortization	1B	1B	1.1B	994M	689.6M	746.6M	992M	1B	1B	1B	988M	1B
Stock-based compensation	27M	17M	27M	39M	31.3M	30.3M	42M	37M	42M	23M	31M	52M
Change in working capital	69M	-239M	147M	87M	79.8M	-414.3M	107M	187M	-70M	-190M	97M	228M
Operating cash flow	1.1B	1.1B	1.2B	1.2B	868.4M	679.4M	1.4B	1.2B	1.5B	1.1B	1.1B	1.3B
Capital expenditure	-745M	-684M	-812M	-666M	-483.7M	-437.9M	-654M	—	—	—	—	—
Investing cash flow	-767M	-716M	-868M	-759M	-557.1M	-483M	-602M	-495M	-26M	-54M	-69M	-20M
Dividends paid	-338M	-339M	-359M	-431M	-273.6M	-286.5M	-402M	-405M	-408M	-413M	-430M	-434M
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	39M	-938M	1.3B	-1.4B	-543.5M	-259.2M	-330M	2.6B	-2.7B	389M	-1.2B	-585M
Net change in cash	410M	-565M	1.7B	-895M	-232.2M	-62.8M	488M	3.3B	-1.2B	1.5B	-244M	737M
Free cash flow	538M	630M	14M	226M	536.4M	344.9M	423M	568M	859M	501M	-25M	690M

Date	Ratio
Mar 18, 2020	2:1
Apr 17, 2013	2:1

TELUS Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history