Telus Corp (TU) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Telus Corp stock $6.56, price $9.22, that is 28.9% below the price, quality 43 out of 100. Rating: overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range $7.72 – $20.58 · fair‑value band $5.86 – $11.47 · the $9.22 price screens above the $6.56 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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TELUS Corporation, together with its subsidiaries, operates as a telecommunications company in Canada and internationally. It operates through TELUS Technology Solutions, TELUS Health, and TELUS Digital Experience segments.
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The company offer technology solutions comprising mobile and fixed voice and data telecommunications services and products; and agriculture and consumer goods services, such as software, data management and data analytics-driven smart-food chain, and consumer goods technologies, as well as sells mobile technologies equipment.
It also provides data services consisting of internet protocol; television; hosting; managed information technology and cloud-based services; and home and business security and automation.
In addition, the company offers integrated health and well-being products, solutions, and services, such as healthcare services; and software and technology solutions, including employee and family assistance programs and benefits administration.
Further, it provides digitally enabled customer experience solutions, including digital customer experience management and the digital transformation of IT and customer experience systems; digital trust, safety, and security; AI data services; and generative AI solutions in customer experience.
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 based in Vancouver, Canada.
Stock analysis
Telus Corp (TU) currently trades at $9.22, while our model-based Fair Value estimate is $6.56, 29% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $9.27 per share, and 6 of the 21 models we run sit above the $9.22 price.
Bear case: the Earnings-Based group reads lowest at $2.42, and 15 of the 21 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $5.86 (bear) to $11.47 (bull), the price of $9.22 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 43/100 (below-average quality), in the Communication Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Telus Corp reported revenue of C$20.5B in FY2025 versus C$16.8B in FY2021, a compound +5.1%/yr. Reported net income was C$1.1B in FY2025, compounding −9.4%/yr from FY2021.
Key figures
Market cap $14.5B Large · P/S ratio 0.66 · EPS (TTM) $−0.4300 · Net margin −4.6% · Return on equity −6.4% · Return on assets (EBIT) 5.0% · Operating margin 15.1% · Revenue (TTM) C$20.2B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 31 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 50% fair-value upside, at −29%, TU screens richer than that median.
Fair Value models
Bear$5.86Fair Value $6.56Bull$11.47
Price $9.22 · Downside -28.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.71/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+1.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.0%
Start year 2020 (pandemic). Over 10 years: +5.1% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−7.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.4%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−10.0% vs −4.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.16% → 12%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in CAD, Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +5.3% a year for the price and −1.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (86 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Telus shows strength in satellite integration for rural coverage but faces its main weakness in high total debt relative to equity.
Main risk: CRTC-mandated wholesale access and MVNO framework could allow smaller providers and virtual operators to offer services on Telus networks at regulated rates, eroding its customer base and margins.
Bull case: Telus could use its streamlined operations and network investments to offer superior reliability and bundled services that retain customers despite increased wholesale competition.
Bear case: If MVNOs and rivals expand aggressively via mandated access, Telus might see substantial loss of retail customers and sustained pressure on service pricing across wireless and broadband.
Telus has completed its first integration test connecting its wireless network directly to satellites for smartphone service in remote Canadian areas. This approach could reduce the capital needed for rural towers while improving coverage reliability for customers. At the same time the company is streamlining around core telecom and data centres under new leadership. Will the satellite capability mainly lower ongoing costs or create enough new usage to justify the added complexity?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 235 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score43 · Bottom 25%
Fair Value upside−28.9% · Below median
Profitability
Return on assets2.4% · Below median
Net margin (12 months)−5.9% · Bottom 25%
Operating margin (12 months)15.1% · Above median
Growth and dividend
Revenue growth (quarter YoY)−2.2% · Bottom 25%
Dividend yield (12 months)18.1% · Top 25%
Balance sheet
Debt / equity1.74× · Highest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
P/B1.29× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)1.31× · Cheaper than median
Price / free cash flow11.3× · Cheaper than median
EV/EBITDA11.8× · Priciest 25%
PEG13.44× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 42
FUTURE (revenue growth)0· sector 19
PAST (return on equity)0· sector 33
HEALTH (low debt)13· sector 83
DIVIDEND (yield)100· sector 71
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Telus Corp Fair Value". https://www.fairvalue-calculator.com/stock/TU
Frequently asked questions
Is Telus Corp (TU) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of $6.56 versus a price of $9.22, about 29% lower (overvalued).
What is the fair value of TU?
Our model-based fair value for Telus Corp is $6.56 (as of Nov 5, 2026), built from audited fundamentals. The current price: $9.22.
What is the quality score of TU?
Telus Corp has a Quality Score of 43/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Telus Corp (TU)?
Our model-based price target is the fair value of $6.56 (as of Nov 5, 2026) from 23 valuation models. Cautious scenario $5.86, optimistic scenario $11.47. It is a calculation from audited fundamentals, not an analyst target.
What is the Telus Corp stock forecast for 2026?
Our models put fair value at $6.56, about 29% lower versus a price of $9.22 (overvalued). Cautious scenario $5.86, optimistic scenario $11.47. The calculation is refreshed regularly with new filings.
What is the revenue of Telus Corp (TU)?
Telus Corp reported trailing-twelve-month revenue of about C$20.2B (latest available figure, as of Nov 5, 2026).
What growth is priced into Telus Corp (TU)?
For today's price to be fair in a discounted-cash-flow model, Telus Corp would have to grow free cash flow by +7.6 % per year for five years (discount rate 8.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.0 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of TU use?
Our models discount Telus Corp at 8.7 %: a base by market capitalisation (large), damped by beta 0.77, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Telus Corp that is +7.6 % per year a year over ten years, using the same discount rate (8.7 %) and the same formula as our fair value.
How much growth has Telus Corp (TU) delivered so far?
Over the past 5 years revenue at Telus Corp grew +6.0 % a year. The price currently implies +7.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Telus Corp (TU) growing?
The median revenue growth in the sector is +3.7 % a year. That is the yardstick for the growth priced into Telus Corp (+7.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Telus Corp (TU)?
The free-cash-flow yield on the price is 11.61 %: that much free cash flow Telus Corp produces per unit of market value. When it exceeds the discount rate of our models (8.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Telus Corp (TU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Telus Corp it is $6.56 per share (as of Nov 5, 2026), against a price of $9.22. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Telus Corp stock overvalued or undervalued in 2026?
As of Nov 5, 2026, TU trades above its calculated fair value: price $9.22, fair value $6.56, a gap of about −29% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TU?
No. The price is what the market pays today ($9.22); the fair value is what the company's own numbers justify ($6.56). For Telus Corp the two are $2.66 per share apart. That gap is exactly why we show both numbers side by side.
How much is Telus Corp worth?
The market values Telus Corp at about $14.5B (market capitalisation, as of Nov 5, 2026). Per share that is $9.22; our models calculate a fair value of $6.56 per share.
What do the bullish and bearish scenarios say about TU?
Our models span a range for Telus Corp: cautious scenario $5.86, base $6.56, optimistic $11.47 per share (as of Nov 5, 2026, price $9.22). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of TU?
The PEG ratio of Telus Corp is 13.44 (P/E divided by earnings growth, as of Nov 5, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Telus Corp (TU)?
Balance-sheet figures for Telus Corp (as of Nov 5, 2026): return on equity −6.4%, debt of 1.74 per unit of equity. They feed the Quality Score of 43/100, which measures business quality independently of the share price.
How far is TU from its 52-week high?
Telus Corp trades at $9.22, about 33% below its 52-week high of $13.80 and 19% above the low of $7.72 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $6.56 is for.
Which stocks are comparable to Telus Corp?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Telus Corp stock attractive at the current price?
The data as of Nov 5, 2026: price $9.22, calculated fair value $6.56 (−29%), Quality Score 43/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TU calculated?
We run Telus Corp through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $6.56, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.6% above its aggregate fair value. Telus Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Telus Corp (TU)?
The closing price on Nov 4, 2026 was $9.22. Our model-based fair value is $6.56, about 29% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Telus Corp right now?
Weak quality (43/100) and above fair value at the same time, the margin of safety is missing on both counts. A fairly wide model range ($5.86 to $11.47) leaves room in how you read the outcome.
Where does the earnings growth of Telus Corp (TU) come from?
Earnings per share at Telus Corp grew −5.6 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.2 %, EBIT margin −4.4 %, tax rate +0.3 %, residual (interest, one-offs) −4.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Telus Corp
How large is the market capitalisation of Telus Corp (TU)?
The market capitalisation of Telus Corp is $14.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Telus Corp (TU)?
The price-to-sales ratio of Telus Corp is 0.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Telus Corp (TU)?
Earnings per share at Telus Corp are $−0.4300. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Telus Corp (TU)?
The net margin of Telus Corp is −4.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Telus Corp (TU)?
The return on equity (ROE) of Telus Corp is −6.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Telus Corp (TU)?
On an EBIT basis the return on assets of Telus Corp is 5.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Telus Corp (TU)?
The operating margin of Telus Corp is 15.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Telus Corp (TU)?
Revenue at Telus Corp is growing −2.2% versus a year earlier (3y avg +3.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Telus Corp (TU)?
Earnings per share at Telus Corp are growing −58.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Telus Corp (TU) carry?
The net debt of Telus Corp is C$28.8B (fiscal year 2025, ≈ 12.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 5, 2026