TELUS Corporation

T.TOTSXCommunication Services● Active

$16.91

$-0.28(-1.60%)

Market Cap$26.4B

P/E Ratio—

52W High$23.18

52W Low$16.18

Avg Volume7.0M

Open$17.16

Beta0.73

Free Cash Flow Financials Revenue

TELUS Corporation (T.TO) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

T.TO · free cash flow · updated Jun 8, 2026

Core FCF metrics

T.TO · FCF · TTM · margin & CAGR

Free cash flow was $2.35B for FY2025 (fiscal year ending 2025-12-31), up 61.0% year-over-year The FCF margin was 11.6%. Five-year CAGR stands at +6.1%.

FY2025 Free Cash Flow$2.35B▲ +61.0% YoY

Trailing 12M (TTM)$1.76Btrailing 4 quarters sum

FCF Margin11.6%$2.35B ÷ revenue

3-Year CAGR+26.4%FY2022 → FY2025

5-Year CAGR+6.1%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

T.TO · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$4.87B(2.52B)$2.35B▲ +61.0%11.6%

FY2024$4.85B(3.39B)$1.46B▲ +13.4%7.3%

FY2023$4.50B(3.21B)$1.29B▲ +10.7%6.4%

FY2022$4.81B(3.65B)$1.16B▲ +225.4%6.4%

FY2021$4.39B(5.32B)−$928.0M▼ 153.0%-5.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

T.TO · P/FCF · FCF yield · FCF per share

TELUS Corporation (T.TO) trades at a FCF yield of 6.66% and a price-to-free-cash-flow ratio of 14.7x. FCF per share stands at $1.15, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.66%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.15

TTM FCF ÷ Shares Outstanding

Price / FCF

x14.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x31.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

T.TO · cash flow statement · operating / investing / financing

For FY2025, TELUS Corporation generated $4.87B in operating cash flow and spent 2.52B in capital expenditures, yielding $2.35B in free cash flow.

Operating Activities

+$4.87B

Cash from core business operations

2025-12-31

Investing Activities

−$3.04B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$74.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($4.87B) − |CapEx| (2.52B) = FCF ($2.35B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

T.TO vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

TELUS CorporationYOU

T.TO

$2.35B+61.0%11.6%

About Free Cash Flow & Methodology

TELUS Corporation (T.TO) reported free cash flow of $2.35B for FY2025 (fiscal year ending 2025-12-31), up 61.0% year-over-year. The FCF margin was 11.6%.

Based on available data, TELUS Corporation has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $2.35B in FY2025. The 5-year CAGR stands at +6.1%.

TELUS Corporation's FCF yield is 6.66% and price-to-FCF ratio is 14.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

T.TO free cash flow · 8 questions

TELUS Corporation free cash flow was $2.35B for FY2025, up 61.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $1.76B.

T.TO free cash flowT.TO FCFT.TO FCF 2025T.TO free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · TELUS Corporation · TELUS Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026