TELUS Corporation

T.TO

Telecommunications Services · Communication Services

Exchange

Toronto Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

TELUS Corporation is a Canadian telecommunications company that provides wireless phone service, home internet, and TV to millions of customers across Canada. It also runs TELUS Health, which offers digital health records and pharmacy services, and TELUS Agriculture, which provides data tools to farmers. TELUS is one of Canada's three dominant national carriers, alongside Rogers and Bell.

TELUS makes money by charging monthly fees for wireless plans, home internet bundles, and health platform subscriptions. It operates almost entirely within Canada, making it heavily tied to the Canadian economy and regulated by federal telecom rules. The company has invested heavily in its fibre internet and 5G networks, which gives it a strong infrastructure advantage in the regions it serves, but its low return on invested capital of 2.9% reflects how expensive that buildout has been — and managing that debt load while continuing to grow remains the company's central financial challenge.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-2.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

Insider Activity

0.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

C$3.6B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

TELUS Corporation's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

14.9%

Thin — 14.9% gross margin

Profit after running costs

Operating Margin

14.9%

Healthy — 14.9% operating margin

Return on the money invested

ROCE

7.1%

Weak — 7.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-1.1%

Shrinking sales (-1.1% YoY)

Profit growth

EPS YoY

-188.9%

Earnings shrinking (-188.9% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

9.3%

Modest free cash flow (9.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

2.16

Heavy debt load (2.16)

Covers its interest

Interest Cover

1.59x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

12.13%

no trend

Healthy income — 12.13% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-11.9%

no trend

Dividend cut (-11.9% YoY) — warning sign

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