TELUS Corporation (TSX:T)

TELUS Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	20,422	20,139	20,005	18,292	16,838	15,341
Revenue Growth (YoY)	2.56%	0.67%	9.37%	8.63%	9.76%	5.16%
Cost of Revenue	13,297	13,062	12,974	11,774	10,808	9,726
Gross Profit	7,125	7,077	7,031	6,518	6,030	5,615
Other Operating Expenses	-57	-13	-18	-11	-4	-4
Operating Expenses	3,934	3,944	4,015	3,432	3,205	2,985
Operating Income	3,191	3,133	3,016	3,086	2,825	2,630
Interest Expense	-2,606	-2,581	-2,401	-859	-779	-730
Interest & Investment Income	38	39	29	21	20	11
Earnings From Equity Investments	-18	-18	-26	-7	-10	-29
Currency Exchange Gain (Loss)	18	36	-3	25	3	-14
Other Non Operating Income (Expenses)	1,066	963	1,141	193	-	-
EBT Excluding Unusual Items	1,689	1,572	1,756	2,459	2,059	1,868
Merger & Restructuring Charges	-368	-572	-754	-208	-141	-209
Gain (Loss) on Sale of Investments	85	104	19	34	4	17
Gain (Loss) on Sale of Assets	-	-	-	-	410	-
Asset Writedown	-	-	-	-	-7	-23
Other Unusual Items	51	124	68	37	-47	58
Pretax Income	957	1,228	1,089	2,322	2,278	1,711
Income Tax Expense	324	290	222	604	580	451
Earnings From Continuing Operations	633	938	867	1,718	1,698	1,260
Minority Interest in Earnings	333	55	-26	-103	-43	-53
Net Income	966	993	841	1,615	1,655	1,207
Net Income to Common	966	993	841	1,615	1,655	1,207
Net Income Growth	24.01%	18.07%	-47.93%	-2.42%	37.12%	-30.87%
Shares Outstanding (Basic)	1,508	1,488	1,451	1,396	1,346	1,275
Shares Outstanding (Diluted)	1,514	1,493	1,457	1,403	1,351	1,278
Shares Change (YoY)	2.61%	2.47%	3.85%	3.85%	5.71%	6.15%
EPS (Basic)	0.64	0.67	0.58	1.16	1.23	0.95
EPS (Diluted)	0.64	0.67	0.58	1.15	1.22	0.94
EPS Growth	20.93%	15.14%	-49.60%	-5.74%	29.79%	-35.17%
Free Cash Flow	2,228	2,097	1,317	1,164	1,291	1,752
Free Cash Flow Per Share	1.47	1.41	0.90	0.83	0.96	1.37
Dividend Per Share	1.610	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	34.89%	35.14%	35.15%	35.63%	35.81%	36.60%
Operating Margin	15.63%	15.56%	15.08%	16.87%	16.78%	17.14%
Profit Margin	4.73%	4.93%	4.20%	8.83%	9.83%	7.87%
Free Cash Flow Margin	10.91%	10.41%	6.58%	6.36%	7.67%	11.42%
EBITDA	4,880	5,675	5,621	5,406	4,993	4,696
EBITDA Margin	23.90%	28.18%	28.10%	29.55%	29.65%	30.61%
D&A For EBITDA	1,689	2,542	2,605	2,320	2,168	2,066
EBIT	3,191	3,133	3,016	3,086	2,825	2,630
EBIT Margin	15.63%	15.56%	15.08%	16.87%	16.78%	17.14%
Effective Tax Rate	33.86%	23.62%	20.39%	26.01%	25.46%	26.36%
Revenue as Reported	20,619	20,386	20,116	18,412	17,258	15,463

Updated Feb 13, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.