TICKER T.TO
ISIN CA87971M1032
Market cap. CAD
29,282,051,848
Shs outstanding 1,550,956,136
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network revenue; mobile technologies equipment sale; data revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services. The Digitally-Led Customer Experiences segment provides digital customer experience and digital-enablement transformation solutions, including artificial intelligence and content management solutions. It has 16.9 million subscriber connections, which include 9.3 million mobile phone subscribers; 2.1 million connected device subscribers; 2.3 million internet subscribers; 1.1 million residential voice subscribers; 1.3 million TV subscribers; and 804,000 security subscribers. The company was formerly known as TELUS Communications Inc. and changed its name to TELUS Corporation in February 2005. TELUS Corporation was incorporated in 1998 and is headquartered in Vancouver, Canada.

Strategy:

Return at exit: 5.0%
Market underperformance amid leverage concerns
• Rotated out as our model found marginally stronger alternatives in the telecom sector. • Telus has experienced negative total returns across multiple timeframes (-2.56% 1-year, -8.04% 6-month), with the stock trading ~18% below its 52-week high. • Recent pause in dividend growth and plans to phase out its DRIP discount signal balance sheet management priorities, as the company targets reducing its net debt to EBITDA ratio from 3.5x to 3.0x by 2027. • Q2 2025 results showed concerning trends including a $245 million net loss and declining adjusted EPS (-12% year-over-year). • Several strengths remain intact: growing free cash flow (+11% year-over-year), strong customer additions (198,000 new customers), and insider share purchases signaling confidence. • This change reflects portfolio rotation, not a sell signal.