TELUS (TU) Balance Sheet: Assets & Liabilities

TELUS (TU) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), TELUS reported total assets of CAD 59.61B and total liabilities of CAD 43.03B. Shareholders' equity was CAD 15.78B, down 6.1% from CAD 16.80B a year earlier. Total debt stood at CAD 31.46B against CAD 2.62B in cash and short-term investments, a net debt position of CAD 28.84B. That puts debt-to-equity at 1.99, compared with 1.58 a year earlier.

TELUS Balance Sheet Analysis

Values in billions CAD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for TELUS Corporation (TU) - Annual data in billions CAD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	2.62	0.87	0.86	0.97	0.72	0.85	0.54	0.41	0.51
Cash & Short-Term Investments	2.62	0.87	0.86	0.97	0.73	0.85	0.54	0.41	0.51
Accounts Receivable	3.34	3.69	3.32	3.88	2.67	2.94	2.83	2.46	2.47
Inventory	0.48	0.63	0.48	0.54	0.45	0.41	0.44	0.38	0.38
Other Current Assets	1.30	1.30	0.72	0.70	0.98	0.48	0.56	0.59	0.49
Total Current Assets	8.37	6.63	6.31	6.09	5.03	4.68	4.35	3.84	2.88
Non-Current Assets
Property, Plant & Equipment (Net)	17.46	17.34	17.25	17.08	15.93	15.01	14.23	12.09	11.37
Long-Term Investments	0.44	1.06	0.28	0.61	0.50	0.31	0.11	0.08	0.06
Goodwill	10.46	10.56	10.06	9.17	7.27	7.24	5.33	4.73	4.22
Intangible Assets	20.33	20.59	19.72	19.18	17.49	15.03	12.81	10.96	10.66
Other Non-Current Assets	0.17	2.90	0.14	1.90	2.27	0.12	0.08	1.37	0.11
Total Non-Current Assets	51.24	51.40	49.82	47.95	42.96	38.65	33.62	29.22	26.66
Total Assets	59.61	58.03	56.14	54.05	47.98	43.33	37.98	33.07	29.55
Current Liabilities
Accounts Payable	0.98	3.63	1.00	1.38	3.71	0.86	0.89	0.69	0.72
Short-Term Debt	4.02	0.92	4.10	2.65	0.11	1.53	1.43	0.94	1.50
Current Portion of Long-Term Debt	3.10	3.25	3.99	2.54	2.93	-	-	-	-
Accrued Liabilities	2.29	0.14	2.25	2.46	0.10	-	-	-	-
Deferred Revenue	1.05	1.04	0.97	0.68	0.85	0.59	0.55	0.56	0.54
Other Current Liabilities	0.03	0.86	0.03	3.36	0.57	2.79	2.65	2.44	2.24
Total Current Liabilities	9.69	9.84	9.48	8.28	8.27	5.91	5.57	4.84	5.19
Non-Current Liabilities
Long-Term Debt	27.44	25.61	23.36	22.50	17.93	18.86	17.14	13.27	12.26
Deferred Tax Liabilities	4.29	4.23	4.39	4.46	4.05	3.72	3.21	3.15	2.94
Other Non-Current Liabilities	0.04	5.79	0.06	1.08	5.73	2.15	1.30	1.36	1.26
Total Non-Current Liabilities	33.35	31.39	29.36	28.13	23.65	24.80	21.75	17.87	16.56
Total Liabilities	43.03	41.23	38.83	36.41	31.92	30.71	27.32	22.72	21.60
Stockholders' Equity
Common Stock	14.10	13.12	12.32	11.40	9.64	7.68	5.66	5.39	5.21
Retained Earnings	0.10	1.52	2.84	4.10	4.26	3.71	4.37	4.47	3.79
Accumulated Other Comprehensive Income	0.00	-0.11	-0.04	0.11	0.20	0.12	0.12	0.01	0.05
Additional Paid-in Capital	1.58	1.08	1.00	0.96	1.01	0.53	0.40	0.38	0.37
Minority Interest	0.80	1.18	1.19	1.09	0.94	0.53	0.11	0.08	0.04
Shares Outstanding	1.55	1.50	1.47	1.43	-	-	-	-	-
Total Stockholders' Equity	15.78	16.80	16.11	16.57	16.06	12.04	10.55	10.26	9.42
Total Liabilities & Equity	59.61	58.03	56.14	54.05	47.99	43.33	37.98	33.07	29.55

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About TELUS Balance Sheet

How much debt does TELUS have?

TELUS had total debt of CAD 31.46B as of Dec 31, 2025, against CAD 2.62B in cash and short-term investments. Its debt-to-equity ratio was 1.99. Total debt was CAD 26.53B a year earlier.

What are TELUS's total assets?

TELUS reported total assets of CAD 59.61B as of Dec 31, 2025, up 2.7% from CAD 58.03B a year earlier. Total liabilities were CAD 43.03B.

What is TELUS's shareholders' equity?

TELUS's shareholders' equity was CAD 15.78B as of Dec 31, 2025, or about CAD 10.19 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition