TELUS Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	20,346	20,139	20,005	18,292	16,838
Revenue Growth (YoY)	1.03%	0.67%	9.37%	8.63%	9.76%
Cost of Revenue	13,164	13,062	12,974	11,774	10,808
Gross Profit	7,182	7,077	7,031	6,518	6,030
Amortization of Goodwill & Intangibles	1,605	1,523	1,555	1,226	1,090
Other Operating Expenses	-61	-13	-18	-11	-4
Operating Expenses	3,980	3,944	4,015	3,432	3,205
Operating Income	3,202	3,133	3,016	3,086	2,825
Interest Expense	-1,511	-1,405	-2,401	-859	-779
Interest & Investment Income	56	39	29	21	20
Earnings From Equity Investments	-	-	-26	-7	-10
Currency Exchange Gain (Loss)	54	36	-3	25	3
Other Non Operating Income (Expenses)	-	-231	1,141	193	-
EBT Excluding Unusual Items	1,801	1,572	1,756	2,459	2,059
Merger & Restructuring Charges	-450	-572	-754	-208	-141
Impairment of Goodwill	-500	-	-	-	-
Gain (Loss) on Sale of Investments	101	104	19	34	4
Gain (Loss) on Sale of Assets	-	-	-	-	410
Asset Writedown	-	-	-	-	-7
Other Unusual Items	250	124	68	37	-47
Pretax Income	1,202	1,228	1,089	2,322	2,278
Income Tax Expense	425	290	222	604	580
Earnings From Continuing Operations	777	938	867	1,718	1,698
Minority Interest in Earnings	336	55	-26	-103	-43
Net Income	1,113	993	841	1,615	1,655
Net Income to Common	1,113	993	841	1,615	1,655
Net Income Growth	12.08%	18.07%	-47.93%	-2.42%	37.12%
Shares Outstanding (Basic)	1,531	1,488	1,451	1,396	1,346
Shares Outstanding (Diluted)	1,535	1,493	1,457	1,403	1,351
Shares Change (YoY)	2.81%	2.47%	3.85%	3.85%	5.71%
EPS (Basic)	0.73	0.67	0.58	1.16	1.23
EPS (Diluted)	0.72	0.67	0.58	1.15	1.22
EPS Growth	7.89%	15.14%	-49.60%	-5.74%	29.79%
Free Cash Flow	2,351	2,097	1,317	1,164	1,291
Free Cash Flow Per Share	1.53	1.41	0.90	0.83	0.96
Dividend Per Share	1.653	1.557	1.454	1.356	1.271
Dividend Growth	6.21%	7.03%	7.28%	6.66%	7.26%
Gross Margin	35.30%	35.14%	35.15%	35.63%	35.81%
Operating Margin	15.74%	15.56%	15.08%	16.87%	16.78%
Profit Margin	5.47%	4.93%	4.20%	8.83%	9.83%
Free Cash Flow Margin	11.55%	10.41%	6.58%	6.36%	7.67%
EBITDA	5,650	5,675	5,621	5,406	4,993
EBITDA Margin	27.77%	28.18%	28.10%	29.55%	29.65%
D&A For EBITDA	2,448	2,542	2,605	2,320	2,168
EBIT	3,202	3,133	3,016	3,086	2,825
EBIT Margin	15.74%	15.56%	15.08%	16.87%	16.78%
Effective Tax Rate	35.36%	23.62%	20.39%	26.01%	25.46%
Revenue as Reported	20,506	20,386	20,116	18,412	17,258

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