Saturday 17 October 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. In the quarter to June 2026, revenue fell 9.28%, EPS grew 78.3%, free cash flow grew 124.3% and total debt fell 26.2%, each against the same quarter a year earlier. Dividend growth for three consecutive years; insiders bought in the last twelve months.

4.65 0.22 −4.52%

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Market cap: $5.0B
P/E: 0.0×
Fwd P/E: −15.5×
Dividend yield: —
F-score: 4/9
Altman Z: −0.27
Beneish M: −3.38
Dividend safety: 33/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 1.11

Total sells 0.36

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	1	—	—	—	—	—	1	—	—
Sell	—	—	—	1	—	—	—	—	—	—	—	—

Insider Ownership 5.60%

Capital & Financial Ratios $m

Market Cap 5,020.00

Revenue 11,832.00

Net Income (1,024.00)

Free Cash Flow 874.00

Net Debt 11,330.00

Current Ratio 0.96

Debt/Equity (8.87)

P/E ratio 0.00

Fwd P/E (15.50)

P/S ratio 0.39

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth (597.54%)

Next Y EPS Growth 65.58%

Next Y revenue growth (10.27%)

Next 5Y EPS Growth (19.22%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 22.96%

10-year low 10-year high

EV/Sales against its own 10 years 9.21%

10-year low 10-year high

EV/FCF against its own 10 years 68.16%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	0.75	0.25 0.25 0.25
2021	1.00	0.25 0.25 0.25 0.25
2020	1.00	0.25 0.25 0.25 0.25
2019	1.00	0.25 0.25 0.25 0.25
2018	2.16	0.54 0.54 0.54 0.54
2017	2.16	0.54 0.54 0.54 0.54
2016	2.16	0.54 0.54 0.54 0.54

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	2,234	1,889	1,003	1,876
Receivables	1,318	1,231	1,314	1,377
Inventory	—	—	—	—
Other	1,223	1,274	5,592	856
	4,775	4,394	7,909	4,109

	2023	2024	2025	Q'26
Payables	1,134	749	1,508	1,035
ST’ Debt	157	412	88	56
Other	4	179	241	299
	3,534	3,639	4,390	4,263

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%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,899	2,805	—	—	—
’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	—	—	—
’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	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.20)	(0.20)	—	—	—
’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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	21.94	13.16	13.97	9.64	8.16	9.67	4.99	0.78	0.97	3.01	Analyst estimates 2026–2028 Powerpack
	High	33.45	27.61	24.20	16.75	15.30	16.60	13.93	6.09	10.33	11.95
People
People	Employees	40,000	51,000	45,000	42,500	39,000	36,000	29,000	28,000	25,000	24,000
	Revenue/emp, $m	0.44	0.35	0.50	0.50	0.53	0.55	0.60	0.52	0.52	0.52
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
	Gross margin, %	55.50	53.54	55.72	57.43	56.87	56.89	54.98	50.92	48.86	46.48
	EBT	1,020	540	(1,563)	(4,766)	(782)	2,701	(991)	(10,237)	(230)	(2,716)
	EBT margin, %	5.84	3.06	(6.92)	(22.21)	(3.78)	13.72	(5.67)	(70.32)	(1.75)	(21.90)
	Net income	626	1,389	(1,733)	(5,269)	(1,232)	2,033	(1,548)	(10,298)	(55)	(1,739)
	Depreciation	3,918	3,936	5,120	4,829	4,710	4,019	3,239	2,985	2,956	2,749
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
	Earnings	1.16	2.21	(1.63)	(4.92)	(1.14)	1.92	(1.54)	(10.48)	(0.06)	(1.75)
	Cash flow	8.54	6.18	6.60	6.23	6.05	6.14	4.70	2.20	4.39	4.76
	Capex	(5.47)	(2.51)	(2.83)	(3.30)	(3.31)	(2.61)	(2.87)	(2.99)	(2.90)	(4.34)
	Free cash flow	3.07	3.67	3.77	2.94	2.73	3.53	1.83	(0.79)	1.49	0.42
	Book value	24.83	37.42	18.60	12.57	10.34	11.17	10.30	0.42	0.47	(1.12)
	Shares, m	540	628	1,066	1,071	1,079	1,060	1,008	983	988	995
Valuation, ×
Valuation, ×	P/E	21.85	7.88	0.00	0.00	0.00	6.54	0.00	0.00	0.00	0.00
	P/S	0.78	0.62	0.72	0.66	0.51	0.68	0.31	0.13	0.40	0.62
	P/B	1.02	0.47	0.81	1.05	0.94	1.12	0.52	4.46	11.30	0.00
	EV/Sales	1.90	2.72	2.29	2.20	2.03	2.13	1.42	1.35	1.62	1.95
	EV/FCF	20.00	20.90	12.88	14.99	14.23	11.22	13.45	(25.31)	14.48	57.81
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
	Capex	(2,951)	(1,577)	(3,017)	(3,535)	(3,576)	(2,765)	(2,896)	(2,935)	(2,865)	(4,320)
	Free cash flow	1,657	2,301	4,015	3,145	2,948	3,736	1,839	(775)	1,468	418
Balance, $m
Balance, $m	Working capital	(187)	(663)	(1,711)	(2,490)	(3,458)	4,367	554	1,241	755	3,519
	Total debt	19,688	37,726	36,061	34,694	31,837	28,982	20,572	19,988	17,906	17,441
	Net debt	19,466	37,170	35,569	33,004	31,431	28,628	19,321	17,754	16,017	16,438
	Shareholders’ equity	13,399	23,491	19,828	13,470	11,162	11,840	10,374	417	464	(1,117)
Returns, %
Returns, %	ROA	1.32	2.27	(2.38)	(7.81)	(1.98)	3.46	(2.99)	(25.86)	(0.16)	(5.13)
	ROIC	4.44	2.07	0.64	(3.67)	1.41	6.62	0.20	(32.96)	1.74	(3.31)
	ROE	4.56	7.53	(8.00)	(31.65)	(10.00)	17.68	(13.94)	(190.86)	(12.49)	532.62

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TIMB TIM S.A. Sponsored ADR	$8.8B	11.0×	13.4×	+18.33% (above 0%: growing)	+14.29% (above 0%: growing)	+17.75% (above 0%: growing)	55.35%	24.42%	Compare
LBTYB Liberty Global Ltd	$7.1B	— (loss-making)	—	−7.65% (below 0%: shrinking)	n/m	+429.69% (above 0%: growing)	50.62%	0.26%	Compare
VEON VEON Ltd.	$5.3B	100×	7.4×	+16.93% (above 0%: growing)	−79.56% (below 0%: shrinking)	+431.58% (above 0%: growing)	86.55%	27.46%	Compare
LUMN Lumen Technologies, Inc.	$5.0B	— (loss-making)	— (loss-making)	−9.28% (below 0%: shrinking)	n/m	+124.34% (above 0%: growing)	49.55%	(3.14%)
IRDM Iridium Communications Inc	$4.8B	49.6×	42.9×	+3.84% (above 0%: growing)	−55.00% (below 0%: shrinking)	−15.24% (below 0%: shrinking)	71.23%	15.10%	Compare
TKC Turkcell Iletisim Hizmetleri AS	$4.3B	10.1×	—	+15.43% (above 0%: growing)	+8.33% (above 0%: growing)	−58.09% (below 0%: shrinking)	25.36%	12.41%	Compare
PHI PLDT Inc.	$4.3B	9.4×	7.5×	−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.	$3.7B	11.1×	34.7×	+3.60% (above 0%: growing)	n/m	−133.98% (below 0%: shrinking)	58.19%	120.67%	Compare
AD Array Digital Infrastructure Inc.	$2.9B	5.4×	8.8×	+89.53% (above 0%: growing)	+1,021.62% (above 0%: growing)	−115.23% (below 0%: shrinking)	56.54%	738.42%	Compare
Median of peers	$4.6B	11.0×	11.1×	+9.63%	−7.83%	+1.25%	57.20%	22.22%

All 55 Telecom Services stocks →

Lumen Technologies, Inc. (LUMN) key facts

Concern: Lumen Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $12.4 billion, down 5.39% from fiscal 2024.
Lumen Technologies, Inc. (LUMN) is a Telecom Services company in the Communication Services sector, listed on Nasdaq.
As of October 16, 2026, LUMN traded at $4.65, a market capitalization of $5.0 billion.
Return on equity was 532.6% and debt-to-equity -8.88.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −0.27 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.