TELUS Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	20,447	20,139	20,005	18,292	16,838	15,341
Revenue Growth (YoY)	2.42%	0.67%	9.37%	8.63%	9.76%	5.16%
Cost of Revenue	13,284	13,062	12,974	11,774	10,808	9,726
Gross Profit	7,163	7,077	7,031	6,518	6,030	5,615
Amortization of Goodwill & Intangibles	1,586	1,523	1,555	1,226	1,090	905
Other Operating Expenses	-57	-13	-18	-11	-4	-4
Operating Expenses	3,984	3,944	4,015	3,432	3,205	2,985
Operating Income	3,179	3,133	3,016	3,086	2,825	2,630
Interest Expense	-2,659	-2,581	-2,401	-859	-779	-730
Interest & Investment Income	44	39	29	21	20	11
Earnings From Equity Investments	-18	-18	-26	-7	-10	-29
Currency Exchange Gain (Loss)	90	36	-3	25	3	-14
Other Non Operating Income (Expenses)	1,191	963	1,141	193	-	-
EBT Excluding Unusual Items	1,827	1,572	1,756	2,459	2,059	1,868
Merger & Restructuring Charges	-384	-572	-754	-208	-141	-209
Gain (Loss) on Sale of Investments	151	104	19	34	4	17
Gain (Loss) on Sale of Assets	-81	-	-	-	410	-
Asset Writedown	-	-	-	-	-7	-23
Other Unusual Items	223	124	68	37	-47	58
Pretax Income	1,236	1,228	1,089	2,322	2,278	1,711
Income Tax Expense	429	290	222	604	580	451
Earnings From Continuing Operations	807	938	867	1,718	1,698	1,260
Minority Interest in Earnings	372	55	-26	-103	-43	-53
Net Income	1,179	993	841	1,615	1,655	1,207
Net Income to Common	1,179	993	841	1,615	1,655	1,207
Net Income Growth	27.74%	18.07%	-47.93%	-2.42%	37.12%	-30.87%
Shares Outstanding (Basic)	1,520	1,488	1,451	1,396	1,346	1,275
Shares Outstanding (Diluted)	1,525	1,493	1,457	1,403	1,351	1,278
Shares Change (YoY)	2.73%	2.47%	3.85%	3.85%	5.71%	6.15%
EPS (Basic)	0.78	0.67	0.58	1.16	1.23	0.95
EPS (Diluted)	0.78	0.67	0.58	1.15	1.22	0.94
EPS Growth	24.25%	15.14%	-49.60%	-5.74%	29.79%	-35.17%
Free Cash Flow	1,874	2,097	1,317	1,164	1,291	1,752
Free Cash Flow Per Share	1.23	1.41	0.90	0.83	0.96	1.37
Dividend Per Share	1.637	1.557	1.454	1.356	1.271	1.185
Dividend Growth	6.98%	7.03%	7.28%	6.66%	7.26%	5.21%
Gross Margin	35.03%	35.14%	35.15%	35.63%	35.81%	36.60%
Operating Margin	15.55%	15.56%	15.08%	16.87%	16.78%	17.14%
Profit Margin	5.77%	4.93%	4.20%	8.83%	9.83%	7.87%
Free Cash Flow Margin	9.16%	10.41%	6.58%	6.36%	7.67%	11.42%
EBITDA	4,620	5,675	5,621	5,406	4,993	4,696
EBITDA Margin	22.60%	28.18%	28.10%	29.55%	29.65%	30.61%
D&A For EBITDA	1,441	2,542	2,605	2,320	2,168	2,066
EBIT	3,179	3,133	3,016	3,086	2,825	2,630
EBIT Margin	15.55%	15.56%	15.08%	16.87%	16.78%	17.14%
Effective Tax Rate	34.71%	23.62%	20.39%	26.01%	25.46%	26.36%
Revenue as Reported	20,626	20,386	20,116	18,412	17,258	15,463

Source: S&P Global Market Intelligence. Standard template. Financial Sources.