TELUS Corporation (TU) Stock Analysis

TELUS’s principal competitive advantages stem from its extensive network infrastructure, customer-centric culture, and diversification beyond traditional telecom. The company’s PureFibre and 5G networks reach over 3.5 million premises and 88% of Canadians, respectively, supporting high customer satisfaction and industry-leading churn rates (postpaid mobile churn below 1% for 12 consecutive years). This network quality is frequently recognized by third parties, with TELUS named Canada’s fastest internet provider by PCMag for four years running.

Relative to Bell and Rogers, TELUS maintains a strong position in Western Canada and is expanding in Ontario and Quebec. Its bundled service offerings—combining wireless, internet, TV, and security—drive higher average revenue per user and reduce customer attrition. TELUS’s focus on operational efficiency is reflected in a 10% improvement in unit cost to serve and a capital intensity ratio among the lowest globally.

TELUS differentiates itself further through its TELUS Health and Agriculture & Consumer Goods segments, which now account for a growing share of revenue and offer higher-margin, less regulated growth opportunities. The company’s reputation for customer service and its “social capitalism” initiatives reinforce brand loyalty.

Risks include intense price competition, regulatory changes, and high capital requirements. However, TELUS’s scale, diversified revenue streams, and superior customer retention provide a durable edge over domestic rivals.