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TELUS Corporation

TU

TELUS Corporation • NYSE
$13.15 ▲ 1.31% (+0.17)
Market Cap $19.98 B
52w High $16.74
52w Low $12.87
Dividend Yield 1.17%
P/E 23.48
Volume 3.50M
Outstanding Shares 1.52B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.067B ▲ $2.383B ▼ $493M ▲ 9.73% ▲ $0.32 ▲ $1.999B ▲
Q2-2025 $5.031B ▲ $2.998B ▲ $7M ▼ 0.139% ▼ $0.005 ▼ $1.177B ▼
Q1-2025 $5.018B ▼ $2.419B ▼ $321M ▼ 6.397% ▼ $0.21 ▼ $1.742B ▼
Q4-2024 $5.331B ▲ $2.436B ▲ $358M ▲ 6.715% ▲ $0.24 ▲ $1.831B ▲
Q3-2024 $5.042B $2.386B $280M 5.553% $0.19 $1.624B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.312B ▼ $42.264B ▼ $29.683B ▼ $11.397B ▼
Q2-2025 $3.682B ▲ $60.628B ▲ $44.526B ▲ $15.22B ▼
Q1-2025 $1.014B ▲ $57.985B ▼ $41.199B ▼ $15.607B ▼
Q4-2024 $869M ▲ $58.023B ▲ $41.225B ▲ $15.62B ▼
Q3-2024 $814M $56.986B $40.059B $15.771B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $353.974M ▲ $1.072B ▼ $431.518M ▲ $-2.835B ▼ $-1.393B ▼ $720.872M ▲
Q2-2025 $-245M ▼ $1.166B ▲ $-1.093B ▼ $2.595B ▲ $2.668B ▲ $568M ▲
Q1-2025 $301M ▼ $1.077B $-602M ▲ $-330M ▲ $145M ▲ $423M ▼
Q4-2024 $320M ▲ $1.077B ▼ $-671M ▲ $-351M ▲ $55M ▲ $467M ▼
Q3-2024 $257M $1.432B $-782M $-763M $-113M $753M

Five-Year Company Overview

Income Statement

Income Statement TELUS shows a clear pattern of steadily rising revenue over the past several years, helped by growth in both core telecom and adjacent businesses. Profitability, however, has been bumpier. Operating earnings and EBITDA have generally trended upward, but net income and earnings per share are well below their peak from a few years ago. This suggests pressure from higher costs, interest, and heavy investment, as well as competitive and regulatory factors. Overall, the business is growing, but the translation of that growth into bottom-line profit has been less consistent, pointing to a trade-off between near‑term earnings and long‑term investment in the network and new verticals.

Balance Sheet

Balance Sheet The balance sheet reflects a capital‑intensive telecom operator that has been investing heavily for growth. Total assets have climbed meaningfully, driven by network buildout, spectrum, and acquisitions. Debt levels have also moved up substantially over the period, outpacing the growth in shareholders’ equity, which has risen but then flattened out more recently. Cash on hand is modest relative to the size of the business, which is typical for this sector but underscores reliance on steady cash generation and capital markets. In short, TELUS carries a sizable investment base and higher leverage, which supports growth but increases financial risk if conditions weaken.

Cash Flow

Cash Flow Cash generation from operations has been solid and fairly stable, gradually increasing over time. The company has been spending heavily on capital projects, especially around its network and infrastructure, which led to a period of very tight or even negative free cash flow a few years ago. As capital spending has eased from its peak, free cash flow has recovered into clearly positive territory. This suggests TELUS is moving from an intense buildout phase toward a more balanced period where it can both invest and retain more surplus cash, though the business will likely remain investment‑heavy by nature.

Competitive Edge

Competitive Edge TELUS holds a strong competitive position as one of Canada’s dominant telecom providers, benefiting from scale, brand recognition, and a reputation for high‑quality networks and customer service. Independent assessments frequently rank its wireless network among the best in the country, which supports customer loyalty and pricing power. Shared infrastructure with peers helps achieve broad coverage at lower cost. The company has also differentiated itself with strong customer service scores and a socially responsible brand image. However, it still operates in a mature, tightly regulated market with aggressive national competitors, so growth in the core telecom segment is likely to be steady rather than explosive.

Innovation and R&D

Innovation and R&D TELUS stands out for pushing beyond traditional telecom into technology‑enabled services. It has invested heavily in 5G, using that network as a platform for future services in areas like the Internet of Things and advanced enterprise solutions. The company actively deploys artificial intelligence and analytics to improve network performance, customer service, and business offerings. TELUS Health and TELUS Agriculture & Consumer Goods are distinctive growth platforms, using software and data to address healthcare efficiency and food supply chain challenges. These initiatives, supported by ongoing R&D and strategic acquisitions, give TELUS a more diversified, innovation‑driven profile, but they also carry execution risk as the company integrates various technologies and business models.

Summary

Overall, TELUS appears to be a steadily growing communications and technology company that has chosen to lean into heavy investment and diversification. Revenue has risen consistently, but profits have been more volatile as the company balances earnings against network buildout and expansion into health and agriculture technology. The balance sheet shows a larger asset base funded in part by higher debt, which amplifies both upside potential and financial risk. Cash flow from operations is strong and, with capital spending moderating from peak levels, free cash flow has improved. Competitively, TELUS benefits from a high‑quality network, strong customer service reputation, and meaningful scale advantages within Canada. Its innovation efforts, particularly in 5G, AI, digital health, and agri‑food technology, offer long‑term growth avenues beyond traditional telecom, while introducing the usual uncertainties around integration, regulation, and market adoption.

NEWS

November 7, 2025 · 6:50 AM UTC

TELUS Corporation - NOTICE OF CASH DIVIDEND

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November 7, 2025 · 6:45 AM UTC

TELUS reports strong operational and financial results for third quarter 2025

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November 4, 2025 · 8:00 AM UTC

Railtown AI Collaborates with TELUS Sovereign AI Factory to Accelerate Agentic Development for Canadian Software Affiliates

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November 4, 2025 · 6:45 AM UTC

TELUS Digital's Fuel iX™ Makes AI Accessible to Every Team Member

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October 31, 2025 · 6:45 AM UTC

TELUS Completes Privatization of TELUS Digital

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