TELUS Corporation (TU) Income Statement
TU 2025 at a glance
Fiscal year ended December 31, 2025 · Canadian dollarsTU revenue and net income
Where TU's revenue goes
2025Each bar shows an amount and its share of revenue. TU kept 5.5% of revenue as net income.
TU profit margins
TU growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +1.7% | +6.5% | +6.9% | — |
| Gross profit | +79.8% | +28.0% | +17.6% | — |
| Operating income | +0.0% | −8.4% | −4.5% | — |
| Net income | +32.3% | −12.4% | −8.6% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TU income statement in Canadian dollars
| 2025 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$20.35B | C$20.00B | C$18.29B | C$16.84B | C$15.34B | C$14.59B | C$14.10B | C$13.20B | C$12.72B | C$12.43B |
| Cost of revenue | C$7.71B | C$12.97B | C$11.77B | C$10.81B | C$9.73B | C$8.97B | C$8.96B | C$8.39B | C$8.10B | C$8.04B |
| Gross profit | C$12.64B | C$7.03B | C$6.52B | C$6.03B | C$5.62B | C$5.62B | C$5.13B | C$4.92B | C$4.63B | C$4.39B |
| Research & development | — | — | — | — | — | C$0 | C$0 | C$0 | C$0 | C$0 |
| Sales, general & admin | C$5.88B | C$6.15B | C$4.90B | C$4.27B | C$3.70B | C$3.03B | C$2.90B | C$2.60B | C$2.94B | C$2.71B |
| Total operating expenses | C$10.28B | C$4.67B | C$3.56B | C$2.96B | C$3.13B | C$2.64B | C$2.29B | C$2.18B | C$2.45B | C$2.04B |
| Operating income | C$2.36B | C$2.36B | C$2.95B | C$3.07B | C$2.48B | C$2.98B | C$2.84B | C$2.74B | C$2.18B | C$2.35B |
| Interest income | C$56.0M | C$29.0M | C$604.0M | C$20.0M | C$11.0M | C$682.0M | C$589.0M | C$554.0M | C$502.0M | C$408.0M |
| Interest expense | C$1.21B | C$1.29B | C$867.0M | C$805.0M | C$746.0M | C$709.0M | C$642.0M | C$585.0M | C$508.0M | C$497.0M |
| Income before taxes | C$1.20B | C$1.09B | C$2.32B | C$2.28B | C$1.71B | C$2.24B | C$2.18B | C$2.03B | C$1.66B | C$1.91B |
| Income taxes | C$425.0M | C$222.0M | C$604.0M | C$580.0M | C$451.0M | C$468.0M | C$552.0M | C$553.0M | C$426.0M | C$524.0M |
| Net income | C$1.11B | C$841.0M | C$1.61B | C$1.66B | C$1.21B | C$1.75B | C$1.60B | C$1.46B | C$1.22B | C$1.38B |
| EBITDA | C$6.77B | C$7.08B | C$6.54B | C$6.04B | C$5.64B | C$5.65B | C$5.15B | C$4.95B | C$4.66B | C$4.45B |
| Gross margin | 62.1% | 35.1% | 35.6% | 35.8% | 36.6% | 38.5% | 36.4% | 37.3% | 36.4% | 35.3% |
| Operating margin | 11.6% | 11.8% | 16.1% | 18.3% | 16.2% | 20.4% | 20.1% | 20.8% | 17.1% | 18.9% |
| Net margin | 5.5% | 4.2% | 8.8% | 9.8% | 7.9% | 12.0% | 11.4% | 11.1% | 9.6% | 11.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | C$4.92B | C$4.99B | C$5.23B | C$5.07B | C$5.02B | C$5.33B | C$5.04B | C$4.90B | C$4.87B | C$5.16B | C$4.93B | C$4.92B |
| Cost of revenue | C$4.19B | C$4.17B | C$2.06B | C$1.94B | C$3.22B | C$3.54B | C$3.26B | C$3.18B | C$3.08B | C$3.35B | C$3.25B | C$3.25B |
| Gross profit | C$734.0M | C$824.0M | C$3.17B | C$3.12B | C$1.80B | C$1.79B | C$1.78B | C$1.72B | C$1.79B | C$1.80B | C$1.68B | C$1.67B |
| Sales, general & admin | C$1.47B | C$1.64B | C$1.46B | C$1.41B | C$1.47B | C$1.48B | C$1.48B | C$1.47B | C$1.48B | C$1.41B | C$1.57B | C$1.54B |
| Total operating expenses | C$3.34B | C$2.63B | C$2.48B | C$2.38B | C$1.05B | C$1.03B | C$994.0M | C$1.04B | C$1.21B | C$1.14B | C$1.10B | C$1.07B |
| Operating income | C$734.0M | C$824.0M | C$694.0M | C$742.0M | C$752.0M | C$759.0M | C$788.0M | C$682.0M | C$575.0M | C$664.0M | C$582.0M | C$599.0M |
| Interest income | C$21.0M | C$25.0M | C$17.0M | C$16.0M | C$5.0M | C$5.0M | C$10.0M | C$11.0M | C$13.0M | C$13.0M | C$4.0M | C$291.0M |
| Interest expense | C$649.0M | C$563.0M | C$260.0M | C$409.3M | C$342.0M | C$382.0M | C$347.0M | C$345.0M | C$348.0M | C$360.0M | C$318.0M | C$302.0M |
| Income before taxes | −C$1.99B | C$199.0M | C$404.0M | C$588.0M | C$408.0M | C$438.0M | C$309.0M | C$300.0M | C$181.0M | C$386.0M | C$259.0M | C$279.0M |
| Income taxes | −C$162.0M | C$55.0M | C$114.0M | C$157.0M | C$107.0M | C$118.0M | C$52.0M | C$79.0M | C$41.0M | C$76.0M | C$63.0M | C$55.0M |
| Net income | −C$1.84B | C$136.0M | C$292.0M | C$493.0M | C$321.0M | C$358.0M | C$280.0M | C$228.0M | C$127.0M | C$288.0M | C$200.0M | C$217.0M |
| EBITDA | C$1.76B | C$1.75B | C$1.85B | C$2.00B | C$1.81B | C$1.76B | C$1.79B | C$1.76B | C$1.79B | C$1.77B | C$1.69B | C$1.73B |
| Gross margin | 14.9% | 16.5% | 60.6% | 61.7% | 35.9% | 33.5% | 35.3% | 35.1% | 36.7% | 34.9% | 34.1% | 33.9% |
| Operating margin | 14.9% | 16.5% | 13.3% | 14.6% | 15.0% | 14.2% | 15.6% | 13.9% | 11.8% | 12.9% | 11.8% | 12.2% |
| Net margin | −37.4% | 2.7% | 5.6% | 9.7% | 6.4% | 6.7% | 5.6% | 4.7% | 2.6% | 5.6% | 4.1% | 4.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported in TU's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TU financial results
In fiscal year 2025 (ended December 31, 2025), TELUS reported revenue of C$20.3 billion, up 1.7% from the year before. It had net income of C$1.1 billion (up 32.3%), a net profit margin of 5.5%. Over five years revenue grew at an average rate of 6.9% a year. Figures are in Canadian dollars, the currency of its financial statements.
See the TU stock overview for the latest quote and news, or the TU chart for price history and technical indicators.
TU income statement FAQ
What is TELUS's annual revenue?
TELUS reported total revenue of C$20.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 1.7% from C$20.0 billion the previous year.
Is TELUS profitable?
Yes. TELUS reported net income of C$1.1 billion in fiscal 2025, a net profit margin of 5.5%; its operating margin was 11.6%.
What is TELUS's gross margin?
TELUS's gross margin was 62.1% in fiscal 2025: for every $100 of revenue, TELUS kept $62 after the direct cost of its products and services.
How fast is TELUS growing?
Revenue grew 6.9% a year on average over the last five fiscal years, from C$14.6 billion to C$20.3 billion.
When will TELUS report its next earnings?
TELUS is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 before the market opens.
When does TELUS's fiscal year end?
TELUS's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.