TU financial statements

The full income statement, balance sheet, and cash-flow statement for Telus Corporation (TU), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2017-12 1.19B2019-12 1.21B2020-12 1.29B2021-12 1.37B2022-12 1.43B2023-12 1.47B2024-12 1.50B2025-09 1.57B2025-12 1.55B+30.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	14.7B YoY-1.3%	14.9B YoY-0.2%	14.9B YoY+5.4%	14.1B YoY+2.7%	13.8B YoY+19.4%
Cost of revenue	1.72B YoY-5.8%	1.82B YoY+2.6%	1.78B YoY+0.6%	1.77B YoY+0.7%	1.76B YoY+17.7%
Operating income	1.69B YoY-17.3%	2.05B YoY+16.9%	1.75B YoY-22.9%	2.27B YoY-7.5%	2.45B YoY+32.5%
Interest expense	831M YoY-27.7%	1.15B YoY+21.9%	943M YoY+94.3%	486M YoY-23.6%	635M YoY+10.5%
Pre-tax income	860M YoY-4.0%	896M YoY+11.0%	807M YoY-54.8%	1.78B YoY-1.9%	1.82B YoY+42.4%
Income tax	304M YoY+43.8%	212M YoY+28.6%	164M YoY-64.5%	464M YoY+0.3%	463M YoY+37.6%
	556M YoY-18.7%	684M YoY+6.5%	642M YoY-51.3%	1.32B YoY-2.6%	1.35B YoY+44.2%
Net income to common	797M YoY+10.0%	724M YoY+16.2%	623M YoY-49.8%	1.24B YoY-6.0%	1.32B YoY+46.7%
	$0.52 YoY+5.4%	$0.49 YoY+13.7%	$0.43 YoY-51.4%	$0.88 YoY-9.2%	$0.97 YoY+38.8%
EPS (basic)	$0.52 YoY+6.9%	$0.49 YoY+13.7%	$0.43 YoY-51.8%	$0.89 YoY-9.2%	$0.98 YoY+38.5%
	1.53B YoY+2.9%	1.49B YoY+2.5%	1.45B YoY+3.9%	1.40B YoY+3.7%	1.35B YoY+5.6%
	1.53B YoY+2.8%	1.49B YoY+2.5%	1.46B YoY+3.8%	1.40B YoY+3.8%	1.35B YoY+5.7%
Dividends per share	$1.18 YoY+4.2%	$1.14 YoY+5.4%	$1.08 YoY+3.5%	$1.04 YoY+2.7%	$1.01 YoY+14.8%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	6.11B YoY+32.3%	4.62B YoY-3.2%	4.77B YoY+6.0%	4.50B YoY+14.0%	3.95B YoY+7.7%
Cash & equivalents	1.91B YoY+216.2%	605M YoY-7.3%	653M YoY-9.3%	720M YoY+26.8%	568M YoY-14.6%
Accounts receivable	2.77B YoY+7.9%	2.57B YoY-5.5%	2.72B YoY+10.9%	2.45B YoY+16.9%	2.10B YoY+13.6%
	43.5B YoY+7.7%	40.4B YoY-4.7%	42.4B YoY+6.2%	39.9B YoY+6.1%	37.7B YoY+11.0%
Property, plant & equipment	—	—	—	12.6B YoY+1.0%	12.5B YoY+6.2%
Goodwill	7.64B YoY+3.8%	7.36B YoY-3.2%	7.60B YoY+12.6%	6.75B YoY+18.2%	5.71B YoY+1.7%
Total non-current assets	37.4B YoY+4.5%	35.8B YoY-4.9%	37.6B YoY+6.2%	35.4B YoY+5.1%	33.7B YoY+11.4%
	7.07B YoY+3.3%	6.85B YoY-4.3%	7.16B YoY+17.0%	6.12B YoY-5.7%	6.49B YoY+40.3%
Short-term & current debt	2.26B YoY+0.2%	2.26B YoY-25.1%	3.02B YoY+60.7%	1.88B YoY-18.3%	2.30B YoY+104.7%
	31.4B YoY+9.4%	28.7B YoY-2.1%	29.3B YoY+9.1%	26.9B YoY+7.4%	25.1B YoY+4.1%
Long-term debt	20.0B YoY+12.3%	17.8B YoY+1.1%	17.6B YoY+6.2%	16.6B YoY+18.1%	14.1B YoY-4.8%
	11.5B YoY+5.9%	10.9B YoY-10.6%	12.2B YoY-0.6%	12.2B YoY+3.2%	11.9B YoY+25.7%
Total equity incl. non-controlling	12.1B YoY+3.5%	11.7B YoY-10.5%	13.1B YoY+0.2%	13.0B YoY+3.5%	12.6B YoY+28.0%
	1.55B YoY+3.0%	1.50B YoY+2.4%	1.47B YoY+2.6%	1.43B YoY+4.4%	1.37B YoY+6.1%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash from operations	3.48B YoY-1.5%	3.54B YoY+6.1%	3.33B YoY-9.8%	3.70B YoY+5.6%	3.50B YoY+2.6%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Long-term debt issued	9.14B YoY+94.1%	4.71B YoY-31.1%	6.83B YoY-13.4%	7.89B YoY+102.2%	3.90B YoY+7.2%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00 YoY-100.0%	1.04B YoY-7.0%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	1.17B YoY+2.3%	1.14B YoY+16.9%	974M YoY+6.8%	913M YoY+9.5%	834M YoY+20.2%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	20.4B YoY+0.0%	20.4B YoY-19.9%	25.5B YoY-3.8%	26.5B YoY-18.1%	32.3B YoY+26.3%
P/E	36.7× YoY+23.1%	29.8× YoY+54.5%	19.3× YoY-1.3%	19.5× YoY-18.1%	23.8× YoY-12.4%
P/S	1.4× YoY+1.4%	1.4× YoY-23.8%	1.8× YoY-6.4%	1.9× YoY-18.1%	2.3× YoY+5.8%
P/B	1.8× YoY-5.5%	1.9× YoY-9.9%	2.1× YoY-6.8%	2.2× YoY-18.1%	2.7× YoY+0.5%
	2.7% YoY-18.8%	3.4% YoY-35.3%	5.2% YoY+1.3%	5.1% YoY+22.1%	4.2% YoY+14.1%
	9.0% YoY+7.3%	8.4% YoY+38.2%	6.1% YoY+12.3%	5.4% YoY+25.4%	4.3% YoY-3.6%
Source filing	40-F	40-F	40-F	40-F	40-F

About this data

Source: TU's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TU filings on SEC EDGAR → Not investment advice.