Pricing Log in Create free account
Friday 6 November 2026 Export LUMN’s income statement to Excel — free account

Lumen Technologies, Inc.

LUMN Communication Services Telecom Services

Lumen Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.4 billion, down 5.39% from fiscal 2024.

Revenue
−12.1%
EPS
+58.1%
Free cash flow
−123.7%
Total debt
−25.3%

Quarter to September 2026, against a year earlier

3.92 0.55 −12.30%
Market cap
$4.1B
P/E
0.0×
Fwd P/E
−6.6×
Dividend yield
—
F-score
4/9
Altman Z
−0.27
Beneish M
−3.38
Dividend safety
33/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.11
Sold, $m 0.36
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — 1 — — —
Sell — — 1 — — — — — — — — —
Insider Ownership 5.67%

Capital & Financial Ratios $m

Size
Market Cap 4,110.00
Revenue ttm 11,460.00
Net income ttm (668.00)
Free cash flow ttm (960.00)
Net debt Q 12,215.00
Valuation
P/E 0.00
Forward P/E (6.60) (negative: loss-making)
Price / sales 0.34
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.71 (below 1: weak)
Debt / equity Q (7.66) (negative: negative equity)
Interest coverage Q (0.88)
Growth
Revenue growth Q −12.05% (below 0%: shrinking)
Operating income growth Q −43.97% (below 0%: shrinking)
EPS, this year −551.84% (below 0%: weak)
EPS, next year A +60.38% (at or above 15%: strong)
Revenue, next year A −10.27% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −19.42% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.4×, against a ten-year median of 2.0×; over the ten years it ranged from 1.3× in 2023 to 2.9× in 2018.
P/S against its own 10 years 19.22%
10-year low 10-year high
EV/Sales against its own 10 years 12.69%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2017–25
−100.0%/yr
  1. 2.16 ’17
  2. 2.16 ’18 +0
  3. 1.00 ’19 −54
  4. 1.00 ’20 +0
  5. 1.00 ’21 +0
  6. 0.75 ’22 −25
  7. 0.00 ’23 −100
  8. 0.00 ’24
  9. 0.00 ’25
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,234 1,889 1,003 978
Receivables 1,318 1,231 1,314 1,400
Inventory — — — —
Other 1,223 1,274 5,592 826
4,775 4,394 7,909 3,204
2023 2024 2025 Q'26
Payables 1,134 749 1,508 1,302
ST’ Debt 157 412 88 29
Other 4 179 241 —
3,534 3,639 4,390 4,542

Compound Annual Growth %

10y 5y 3y
Sales (3.60%) (9.75%) (10.81%)
Cash Flow (0.84%) (6.20%) 0.02%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.16 Actual −0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.21 0.23 Beat by 0.44
Q1 FY26 −0.06 −0.47 Miss by 0.41
Q2 FY26 −0.15 −0.07 Beat by 0.08
Q3 FY26 −0.16 −0.14 Beat by 0.02
Q4 FY26 −0.11 — Reports 2 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.20) (0.20) (0.26) — —
’25 (0.20) (0.92) (0.62) 0.00 (1.75)
’24 0.06 (0.05) (0.15) 0.09 (0.06)
’23 0.52 (8.88) (0.08) (2.03) (10.48)
’22 0.59 0.34 0.57 (3.08) (1.54)
’21 0.44 0.46 0.51 0.50 1.91
’20 0.29 0.35 0.34 (2.12) (1.14)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,899 2,805 2,715 — —
’25 3,182 3,092 3,087 3,041 12,402
’24 3,290 3,268 3,221 3,329 13,108
’23 3,738 3,661 3,641 3,517 14,557
’22 4,676 4,612 4,390 3,800 17,478
’21 5,029 4,924 4,887 4,847 19,687
’20 5,228 5,192 5,167 5,125 20,712
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,323 971 518 — —
’25 1,095 570 2,511 562 4,738
’24 1,102 511 2,032 688 4,333
’23 595 (100) 881 784 2,160
’22 1,375 1,396 1,123 841 4,735
’21 1,525 1,639 1,730 1,607 6,501
’20 1,299 1,749 1,794 1,682 6,524
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 396 74 (351) — —
’25 318 (304) 1,483 (1,079) 418
’24 401 10 1,201 (144) 1,468
’23 (22) (893) 47 93 (775)
’22 804 694 280 61 1,839
’21 844 1,024 1,064 804 3,736
’20 360 789 841 958 2,948
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 17,470 17,656 22,580 21,458 20,712 19,687 17,478 14,557 13,108 12,402 11,460 (3.7%) 11,128 10,717 10,561 (5.2%)
Gross margin, % 55.50 53.54 55.72 57.43 56.87 56.89 54.98 50.92 48.86 46.48 48.44 (9.0) pt
EBT 1,020 540 (1,563) (4,766) (782) 2,701 (991) (10,237) (230) (2,716) (922) n/m
EBT margin, % 5.84 3.06 (6.92) (22.21) (3.78) 13.72 (5.67) (70.32) (1.75) (21.90) (8.05) (27.7) pt
Net income 626 1,389 (1,733) (5,269) (1,232) 2,033 (1,548) (10,298) (55) (1,739) (668) n/m
Per share, $
Per share, $ Revenue 32.38 28.12 21.18 20.03 19.19 18.58 17.35 14.81 13.27 12.47 11.41 (10.1%)
Earnings 1.16 2.21 (1.63) (4.92) (1.14) 1.92 (1.54) (10.48) (0.06) (1.75) (0.66) n/m
Cash flow 8.54 6.18 6.60 6.23 6.05 6.14 4.70 2.20 4.39 4.76 3.36 (6.3%)
Capex (5.47) (2.51) (2.83) (3.30) (3.31) (2.61) (2.87) (2.99) (2.90) (4.34) (4.31) (2.5%)
Free cash flow 3.07 3.67 3.77 2.94 2.73 3.53 1.83 (0.79) 1.49 0.42 (0.96) (19.8%)
Book value 24.83 37.42 18.60 12.57 10.34 11.17 10.30 0.42 0.47 (1.12) (1.71) n/m
Shares, m 540 628 1,066 1,071 1,079 1,060 1,008 983 988 995 1,001 +7.0%
Valuation, ×
Valuation, × P/E 21.85 7.88 0.00 0.00 0.00 6.54 0.00 0.00 0.00 0.00 0.00 3.6
P/S 0.78 0.62 0.72 0.66 0.51 0.68 0.31 0.13 0.40 0.62 0.34 0.5
P/B 1.02 0.47 0.81 1.05 0.94 1.12 0.52 4.46 11.30 0.00 0.00 2.2
EV/Sales 1.90 2.72 2.29 2.20 2.03 2.13 1.42 1.35 1.62 1.95 1.41 2.0
EV/FCF 20.00 20.90 12.88 14.99 14.23 11.22 13.45 (25.31) 14.48 57.81 (16.83) 15.5
Cash, $m
Cash, $m Operating cash flow 4,608 3,878 7,032 6,680 6,524 6,501 4,735 2,160 4,333 4,738 3,374 +0.3%
Capex (2,951) (1,577) (3,017) (3,535) (3,576) (2,765) (2,896) (2,935) (2,865) (4,320) (4,334) +4.3%
Free cash flow 1,657 2,301 4,015 3,145 2,948 3,736 1,839 (775) 1,468 418 (960) (14.2%)
Balance, $m
Balance, $m Working capital (187) (663) (1,711) (2,490) (3,458) 4,367 554 1,241 755 3,519 (1,338) n/m
Net debt 19,466 37,170 35,569 33,004 31,431 28,628 19,321 17,754 16,017 16,438 12,215 (1.9%)
Shareholders’ equity 13,399 23,491 19,828 13,470 11,162 11,840 10,374 417 464 (1,117) (1,722) n/m
Returns, %
Returns, % ROA 1.32 2.27 (2.38) (7.81) (1.98) 3.46 (2.99) (25.86) (0.16) (5.13) (2.06) (6.4) pt
ROIC 4.44 2.07 0.64 (3.67) 1.41 6.62 0.20 (32.96) 1.74 (3.31) 0.88 (7.7) pt
ROE 4.56 7.53 (8.00) (31.65) (10.00) 17.68 (13.94) (190.86) (12.49) 532.62 46.15 +528.1 pt
People
People Employees 40,000 51,000 45,000 42,500 39,000 36,000 29,000 28,000 25,000 24,000 — (5.5%)
Revenue/emp, $m 0.44 0.35 0.50 0.50 0.53 0.55 0.60 0.52 0.52 0.52 — +1.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026

Lumen Technologies, Inc. vs peers in Telecom Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VEON VEON Ltd. $4.8B 90.0× 12.5× +16.93% (above 0%: growing) −79.56% (below 0%: shrinking) +431.58% (above 0%: growing) 86.55% 27.46% Compare
IRDM Iridium Communications Inc $4.5B 27.9× 30.8× +8.28% (above 0%: growing) +180.00% (above 0%: growing) −13.57% (below 0%: shrinking) 70.59% 12.87% Compare
LUMN Lumen Technologies, Inc. $4.1B — (loss-making) — (loss-making) −12.05% (below 0%: shrinking) n/m −123.67% (below 0%: shrinking) 47.26% (6.15%)
TKC Turkcell Iletisim Hizmetleri AS $4.0B 9.4× — +15.43% (above 0%: growing) +8.33% (above 0%: growing) −58.09% (below 0%: shrinking) 25.36% 12.41% Compare
PHI PLDT Inc. $3.9B 8.6× 7.7× −5.84% (below 0%: shrinking) −24.00% (below 0%: shrinking) +78.48% (above 0%: growing) 57.86% 20.01% Compare
TDS Telephone and Data Systems, Inc. $3.5B 10.6× 9.3× +3.60% (above 0%: growing) n/m −133.98% (below 0%: shrinking) 58.19% 120.67% Compare
LBTYK Liberty Global Ltd $3.2B — (loss-making) — −7.65% (below 0%: shrinking) n/m +429.69% (above 0%: growing) 50.62% 0.26% Compare
LBTYA Liberty Global Ltd $3.2B — (loss-making) — (loss-making) −7.65% (below 0%: shrinking) n/m +429.69% (above 0%: growing) 50.62% 0.26% Compare
KYIV Kyivstar Group Ltd. $3.0B 19.3× 9.3× +19.37% (above 0%: growing) −16.71% (below 0%: shrinking) +29.21% (above 0%: growing) 88.79% 37.46% Compare
Median of peers $3.7B 14.9× 9.3× +5.94% −16.71% +53.85% 58.02% 16.44%

All 55 Telecom Services stocks →

Lumen Technologies, Inc. (LUMN) Latest News

5 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com

4 Nov

Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · Business Wire

29 Oct

Impact 4 · · Business Wire

23 Oct

Impact 3 · · Trefis

20 Oct

Impact 4 · · Business Wire

19 Oct

Impact 4 · · Simply Wall St.

15 Oct

Impact 4 · · Business Wire

13 Oct

Impact 3 · · Trefis
Impact 3 · · StockStory

8 Oct

Impact 4 · · PR Newswire

6 Oct

Impact 3 · · TIKR

2 Oct

Impact 4 · · Simply Wall St.

22 Sep

Impact 4 · · Zacks

21 Sep

Impact 4 · · Simply Wall St.
Impact 4 ·
Impact 3 · · Simply Wall St.

14 Sep

Impact 3 · · Trefis

11 Sep

Impact 4 · · MarketBeat
Impact 3 · · MarketBeat

31 Aug

Impact 3 · · Trefis

27 Aug

Impact 3 ·

26 Aug

Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 3 ·

17 Aug

Impact 3 · · Trefis

13 Aug

Impact 3 ·

LUMN metrics, ten years each

stockrow.com/LUMN · Data as of Nov 4, 2026 · For information only; not investment advice. · © 2026 stockrow.com