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Side-by-side financial comparison of Lumen Technologies, Inc. (LUMN) and TELUS CORP (TU). Click either name above to swap in a different company.

TELUS CORP is the larger business by last-quarter revenue ($3.7B vs $2.7B, roughly 1.4× Lumen Technologies, Inc.). Lumen Technologies, Inc. runs the higher net margin — -0.1% vs -4.8%, a 4.7% gap on every dollar of revenue. On growth, TELUS CORP posted the faster year-over-year revenue change (2.2% vs -11.0%).

Lumen Technologies, Inc. is an American telecommunications company headquartered in Monroe, Louisiana. It offers network, security, cloud, voice, and other managed communications services through its fiber optic and copper networks, data centers and cloud computing services. The company has been included in the S&P 600 index since March 2023, and was previously listed among the S&P 500.

Telus Corporation is a Canadian publicly traded holding company and conglomerate, headquartered in Vancouver, British Columbia, which is the parent company of several subsidiaries: Telus Communications offers telephony, television, data and Internet services; Telus Mobility offers wireless services; Telus Health operates companies that provide health products and services; and Telus Digital operates worldwide, providing multilingual customer service outsourcing and digital IT services. Telus ...

LUMN vs TU — Head-to-Head

Bigger by revenue
TU
TU
1.4× larger
TU
$3.7B
$2.7B
LUMN
Growing faster (revenue YoY)
TU
TU
+13.1% gap
TU
2.2%
-11.0%
LUMN
Higher net margin
LUMN
LUMN
4.7% more per $
LUMN
-0.1%
-4.8%
TU

Income Statement — Q4 FY2025 vs Q2 FY2025

Metric
LUMN
LUMN
TU
TU
Revenue
$2.7B
$3.7B
Net Profit
$-2.0M
$-178.8M
Gross Margin
40.7%
90.2%
Operating Margin
-7.3%
3.4%
Net Margin
-0.1%
-4.8%
Revenue YoY
-11.0%
2.2%
Net Profit YoY
-102.4%
-210.9%
EPS (diluted)
$-0.01

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
LUMN
LUMN
TU
TU
Q4 25
$2.7B
Q3 25
$2.8B
Q2 25
$2.9B
$3.7B
Q1 25
$2.9B
Q4 24
$3.1B
Q3 24
$3.0B
Q2 24
$3.0B
$3.6B
Q1 24
$3.1B
Net Profit
LUMN
LUMN
TU
TU
Q4 25
$-2.0M
Q3 25
$-621.0M
Q2 25
$-915.0M
$-178.8M
Q1 25
$-201.0M
Q4 24
$85.0M
Q3 24
$-148.0M
Q2 24
$-49.0M
$161.3M
Q1 24
$57.0M
Gross Margin
LUMN
LUMN
TU
TU
Q4 25
40.7%
Q3 25
39.4%
Q2 25
43.4%
90.2%
Q1 25
42.0%
Q4 24
44.7%
Q3 24
43.0%
Q2 24
45.2%
87.9%
Q1 24
46.0%
Operating Margin
LUMN
LUMN
TU
TU
Q4 25
-7.3%
Q3 25
-4.1%
Q2 25
-21.0%
3.4%
Q1 25
3.7%
Q4 24
5.0%
Q3 24
4.2%
Q2 24
4.5%
13.7%
Q1 24
1.5%
Net Margin
LUMN
LUMN
TU
TU
Q4 25
-0.1%
Q3 25
-22.1%
Q2 25
-31.9%
-4.8%
Q1 25
-6.9%
Q4 24
2.8%
Q3 24
-5.0%
Q2 24
-1.6%
4.4%
Q1 24
1.9%
EPS (diluted)
LUMN
LUMN
TU
TU
Q4 25
$-0.01
Q3 25
$-0.62
Q2 25
$-0.92
Q1 25
$-0.20
Q4 24
$0.08
Q3 24
$-0.15
Q2 24
$-0.05
Q1 24
$0.06

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
LUMN
LUMN
TU
TU
Cash + ST InvestmentsLiquidity on hand
$1.0B
$2.7B
Total DebtLower is stronger
$17.4B
Stockholders' EquityBook value
$-1.1B
$11.8B
Total Assets
$34.3B
$44.3B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LUMN
LUMN
TU
TU
Q4 25
$1.0B
Q3 25
$2.4B
Q2 25
$1.6B
$2.7B
Q1 25
$1.9B
Q4 24
$1.9B
Q3 24
$2.6B
Q2 24
$1.5B
$676.7M
Q1 24
$1.6B
Total Debt
LUMN
LUMN
TU
TU
Q4 25
$17.4B
Q3 25
$17.6B
Q2 25
$17.6B
Q1 25
$17.3B
Q4 24
$17.5B
Q3 24
$18.1B
Q2 24
$18.4B
Q1 24
$18.6B
Stockholders' Equity
LUMN
LUMN
TU
TU
Q4 25
$-1.1B
Q3 25
$-1.2B
Q2 25
$-595.0M
$11.8B
Q1 25
$289.0M
Q4 24
$464.0M
Q3 24
$342.0M
Q2 24
$466.0M
$12.4B
Q1 24
$504.0M
Total Assets
LUMN
LUMN
TU
TU
Q4 25
$34.3B
Q3 25
$34.3B
Q2 25
$33.0B
$44.3B
Q1 25
$33.5B
Q4 24
$33.5B
Q3 24
$34.0B
Q2 24
$32.9B
$41.8B
Q1 24
$33.2B
Debt / Equity
LUMN
LUMN
TU
TU
Q4 25
Q3 25
Q2 25
Q1 25
59.98×
Q4 24
37.70×
Q3 24
53.05×
Q2 24
39.51×
Q1 24
36.89×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
LUMN
LUMN
TU
TU
Operating Cash FlowLast quarter
$562.0M
$851.2M
Free Cash FlowOCF − Capex
$-1.1B
FCF MarginFCF / Revenue
-39.4%
Capex IntensityCapex / Revenue
59.9%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$371.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LUMN
LUMN
TU
TU
Q4 25
$562.0M
Q3 25
$2.5B
Q2 25
$570.0M
$851.2M
Q1 25
$1.1B
Q4 24
$688.0M
Q3 24
$2.0B
Q2 24
$511.0M
$1.0B
Q1 24
$1.1B
Free Cash Flow
LUMN
LUMN
TU
TU
Q4 25
$-1.1B
Q3 25
$1.5B
Q2 25
$-321.0M
Q1 25
$304.0M
Q4 24
$-227.0M
Q3 24
$1.2B
Q2 24
$-242.0M
Q1 24
$389.0M
FCF Margin
LUMN
LUMN
TU
TU
Q4 25
-39.4%
Q3 25
52.4%
Q2 25
-11.2%
Q1 25
10.4%
Q4 24
-7.4%
Q3 24
39.8%
Q2 24
-8.0%
Q1 24
12.7%
Capex Intensity
LUMN
LUMN
TU
TU
Q4 25
59.9%
Q3 25
37.1%
Q2 25
31.1%
Q1 25
27.2%
Q4 24
29.7%
Q3 24
28.6%
Q2 24
25.0%
Q1 24
23.3%
Cash Conversion
LUMN
LUMN
TU
TU
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
8.09×
Q3 24
Q2 24
6.28×
Q1 24
19.33×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

LUMN
LUMN

Large Enterprise$758.0M28%
Wholesale$661.0M24%
Mid Market Enterprise$472.0M17%
Fiber Broadband$232.0M8%
Other Broadband$218.0M8%
Other$184.0M7%
Voice And Other$166.0M6%
International And Other$77.0M3%

TU
TU

Segment breakdown not available.

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