Financials TELUS Corporation

Equities

T

CA87971M1032

Integrated Telecommunications Services

Market Closed - Toronto S.E. Other stock markets 16:00:00 2024-12-09 EST			5-day change	1st Jan Change
22.33 ^CAD	+0.36%		+1.96%	-5.30%

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11-15	Canada's Federal Govt Orders CRTC Review of Rogers, Bell and Telus Reselling Services On Each Other's networks	MT

Projected Income Statement: TELUS Corporation

income-statement-evolution-chart TELUS-CORPORATION

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	14,658	15,463	17,258	18,412	20,116	20,226	20,775	21,643
Change	-	5.49%	11.61%	6.69%	9.25%	0.55%	2.71%	4.18%
EBITDA ¹	5,693	5,701	6,069	6,643	7,149	7,353	7,633	7,975
Change	-	0.14%	6.46%	9.46%	7.62%	2.85%	3.81%	4.48%
EBIT ¹	2,977	2,482	3,074	2,954	2,362	2,867	3,512	3,832
Change	-	-16.63%	23.85%	-3.9%	-20.04%	21.4%	22.47%	9.12%
Interest Paid ¹	-733	-771	-796	-632	-1,273	-1,574	-1,385	-1,329
Earnings before Tax (EBT) ¹	2,244	1,711	2,278	2,322	1,089	1,263	2,070	2,529
Change	-	-23.75%	33.14%	1.93%	-53.1%	16.02%	63.83%	22.18%
Net income ¹	1,746	1,207	1,655	1,615	841	976.4	1,541	1,884
Change	-	-30.87%	37.12%	-2.42%	-47.93%	16.11%	57.78%	22.29%
Announcement Date	2/13/20	2/11/21	2/10/22	2/9/23	2/9/24	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	3,858	3,694	3,728	3,981	4,060	4,024	4,111	4,251	4,872	4,282	4,401	4,671	5,058	4,964	4,946	5,008	5,198	4,932	4,974	5,099	5,235	5,027	5,105	5,250	5,263
Change	-	-4.25%	0.92%	6.79%	1.98%	-0.89%	2.16%	3.41%	14.61%	-12.11%	2.78%	6.13%	8.29%	-1.86%	-0.36%	1.25%	3.79%	-5.12%	0.85%	2.51%	2.67%	-3.97%	1.55%	2.83%	0.25%
EBITDA ¹	1,413	1,475	1,361	1,456	1,409	1,503	1,490	1,559	1,517	1,608	1,622	1,724	1,689	1,779	1,703	1,820	1,847	1,856	1,797	1,842	1,852	1,852	1,874	1,943	1,888
Change	-	4.39%	-7.73%	6.98%	-3.23%	6.67%	-0.86%	4.63%	-2.69%	6%	0.87%	6.29%	-2.03%	5.33%	-4.27%	6.87%	1.48%	0.49%	-3.18%	2.5%	0.56%	-0.03%	1.18%	3.73%	-2.88%
EBIT ¹	690	684	634	617	547	672	658	692	1,052	727	762	796	669	599	582	517	664	575	682	788	810.3	861	845.4	942.7	-
Change	-	-0.87%	-7.31%	-2.68%	-11.35%	22.85%	-2.08%	5.17%	52.02%	-30.89%	4.81%	4.46%	-15.95%	-10.46%	-2.84%	-11.17%	28.43%	-13.4%	18.61%	15.54%	2.83%	6.25%	-1.81%	11.52%	-100%
Charge d'intérêts ¹	-175	-192	-202	-187	-190	-207	-203	-194	-192	-179	-97	-34	-322	-297	-323	-352	-278	-394	-382	-479	-429	-	-	-	-
Earnings before Tax (EBT) ¹	515	492	432	430	357	465	455	498	860	548	665	762	347	-	259	-	386	181	300	309	373.5	-	-	-	-
Change	-	-4.47%	-12.2%	-0.46%	-16.98%	30.25%	-2.15%	9.45%	72.69%	-36.28%	21.35%	14.59%	-54.46%	-100%	-	-100%	-	-53.11%	65.75%	3%	20.87%	-100%	-	-	-
Net income ¹	368	350	290	307	260	331	335	345	644	385	468	514	248	217	200	136	288	127	228	280	334.4	371.8	354.2	404.6	-
Change	-	-4.89%	-17.14%	5.86%	-15.31%	27.31%	1.21%	2.99%	86.67%	-40.22%	21.56%	9.83%	-51.75%	-12.5%	-7.83%	-32%	111.76%	-55.9%	79.53%	22.81%	19.42%	11.2%	-4.73%	14.22%	-100%
Announcement Date	2/13/20	5/7/20	7/31/20	11/6/20	2/11/21	5/7/21	7/30/21	11/5/21	2/10/22	5/6/22	8/5/22	11/4/22	2/9/23	5/4/23	8/4/23	11/3/23	2/9/24	5/9/24	8/2/24	11/8/24	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: TELUS Corporation

balance-sheet-analysis-chart TELUS-CORPORATION

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	18,039	19,826	20,243	24,185	26,614	27,378	26,894	26,132
Change	-	9.91%	2.1%	19.47%	10.04%	2.87%	-1.77%	-2.83%
Announcement Date	2/13/20	2/11/21	2/10/22	2/9/23	2/9/24	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: TELUS Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	2,952	2,775	3,097	3,647	3,182	2,695	2,589	2,481
Change	-	-6%	11.6%	17.76%	-12.75%	-15.31%	-3.91%	-4.19%
Free Cash Flow (FCF) ¹	932	1,435	777	1,274	1,759	2,079	2,366	2,758
Change	-	53.97%	-45.85%	63.96%	38.07%	18.21%	13.77%	16.57%
Announcement Date	2/13/20	2/11/21	2/10/22	2/9/23	2/9/24	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: TELUS Corporation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	38.84%	36.87%	35.17%	36.08%	35.54%	36.35%	36.74%	36.85%
EBIT Margin (%)	20.31%	16.05%	17.81%	16.04%	11.74%	14.18%	16.9%	17.71%
EBT Margin (%)	15.31%	11.07%	13.2%	12.61%	5.41%	6.25%	9.96%	11.68%
Net margin (%)	11.91%	7.81%	9.59%	8.77%	4.18%	4.83%	7.42%	8.7%
FCF margin (%)	6.36%	9.28%	4.5%	6.92%	8.74%	10.28%	11.39%	12.74%
FCF / Net Income (%)	53.38%	118.89%	46.95%	78.89%	209.16%	212.95%	153.56%	146.38%
Profitability
ROA	4.92%	3.35%	3.63%	3.17%	2.49%	2.29%	3.06%	3.85%
ROE	16.78%	12.03%	12.19%	10.19%	8.4%	8.3%	10.19%	13.63%
Financial Health
Leverage (Debt/EBITDA)	3.17x	3.48x	3.34x	3.64x	3.72x	3.72x	3.52x	3.28x
Debt / Free cash flow	19.36x	13.82x	26.05x	18.98x	15.13x	13.17x	11.37x	9.48x
Capital Intensity
CAPEX / Current Assets (%)	20.14%	17.95%	17.95%	19.81%	15.82%	13.32%	12.46%	11.46%
CAPEX / EBITDA (%)	51.85%	48.68%	51.03%	54.9%	44.51%	36.65%	33.92%	31.11%
CAPEX / FCF (%)	316.74%	193.38%	398.58%	286.26%	180.9%	129.6%	109.45%	89.95%
Items per share
Cash flow per share ¹	3.262	3.579	3.248	3.429	3.088	3.437	3.562	-
Change	-	9.73%	-9.25%	5.58%	-9.95%	11.31%	3.65%	-
Dividend per Share ¹	1.126	1.185	1.271	1.356	1.454	1.54	1.645	1.757
Change	-	5.21%	7.26%	6.66%	7.28%	5.88%	6.85%	6.81%
Book Value Per Share ¹	8.717	9.352	11.03	11.58	10.98	10.39	9.489	8.721
Change	-	7.28%	17.96%	4.96%	-5.21%	-5.36%	-8.65%	-8.09%
EPS ¹	1.45	0.94	1.23	1.15	0.58	0.6513	1.003	1.24
Change	-	-35.17%	30.85%	-6.5%	-49.57%	12.3%	53.93%	23.66%
Nbr of stocks (in thousands)	1,209,173	1,290,757	1,360,785	1,427,000	1,463,117	1,500,346	1,500,346	1,500,346
Announcement Date	2/13/20	2/11/21	2/10/22	2/9/23	2/9/24	-	-	-