Lumen Technologies
LUMN Nasdaq· Alternative Carriers
Last close · Oct 26, 2026
$4.43
KIRA · Stoqly’s AI analyst, in plain words
- Lumen Technologies had $12.4B of revenue in fiscal 2025, down 5.4% on the year before. Over five years, revenue changed −9.8% a year on average.
- Its operating margin was −6.6%, down 10.1 pts: of every 100 in sales, about −7 is left after running the business.
- Lumen Technologies lost $1.7B in fiscal 2025.
- Free cash flow was $371M in fiscal 2025, 3.0% of revenue.
- Lumen Technologies returned $1.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count rose 0.7%.
- Lumen Technologies owes $16.8B more than it holds in cash, about 8.7 years of operating profit.
Market cap
$4.4B
P/E
—
Revenue
$12.4B
Net income
−$1.7B
Free cash flow
$371M
Operating margin
−6.6%
Lumen Technologies in 30 seconds · fiscal 2025
Are sales growing?
−5.4%
No. Sales fell 5.4% last year.
Does it make a profit?
−14.0%
No. It lost money last year.
Does profit turn into cash?
3.0%
Partly. 3.0% of sales ends up as free cash.
Is debt under control?
8.7x
Heavy. Repaying its debt would take 8.7 years of operating profit.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
What Lumen Technologies does
Lumen Technologies sells networking and communications services, mostly to businesses. It runs a large fiber-optic network across North America and Asia Pacific, and sells connectivity, edge computing, network-as-a-service and cybersecurity products to customers that range from small offices to global enterprises. Its Lumen brand serves enterprise and wholesale customers. At the end of 2025 Lumen had two segments. The Business segment serves domestic and global customers. The Mass Markets segment serves households and small businesses in the United States, mainly under the CenturyLink brand, which relies on older copper-based services that the company manages for cash flow. In February 2026 Lumen completed the sale of its Mass Markets fiber-to-the-home business in 11 states to AT&T, which narrows the company toward business customers. It sells through direct sales staff, call centers and channel partners.
Biggest risks, in its own words
- Declining revenues, and the uncertainty that follows from them.
- Not realizing the benefits of its focus on its private connectivity fabric solutions for business customers.
- Efforts to win business in artificial intelligence that may fall short.
- Failures of its network, platforms or services.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 20, 2026
- Legal name
- LUMEN TECHNOLOGIES, INC.
- CIK
- 0000018926
Lumen Technologies · LUMN
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $19.7B | $17.5B | $14.6B | $13.1B | $12.4B |
| Revenue growth | −5.0% | −11.2% | −16.7% | −10.0% | −5.4% |
| Gross margin | 56.9% | 55.0% | 50.9% | 48.9% | 46.5% |
| Operating margin | 21.8% | 0.5% | −65.8% | 3.5% | −6.6% |
| Net income | $2.0B | −$1.5B | −$10.3B | −$55.0M | −$1.7B |
| Net margin | 10.3% | −8.9% | −70.7% | −0.4% | −14.0% |
| Diluted EPS | $1.91 | −$1.54 | −$10.48 | −$0.06 | −$1.75 |
| Cash | |||||
| Cash from operations | $6.5B | $4.7B | $2.2B | $4.3B | $4.7B |
| Capital expenditure | $2.9B | $3.0B | $3.1B | $3.2B | $4.4B |
| Free cash flow | $3.6B | $1.7B | −$940M | $1.1B | $371M |
| FCF margin | 18.3% | 9.8% | −6.5% | 8.4% | 3.0% |
| Dividends paid | $1.1B | $780M | $11.0M | $3.0M | $1.0M |
| Share buybacks | $1.0B | $200M | $0.0M | $0.0M | $0.0M |
| Share count change | −1.1% | −5.6% | −2.4% | 0.5% | 0.7% |
| Debt and strength | |||||
| Cash and short-term investments | $354M | $1.3B | $2.2B | $1.9B | $1.0B |
| Debt incl. finance leases | $29.2B | $20.7B | $20.1B | $18.5B | $17.8B |
| Shareholders' equity | $11.8B | $10.4B | $417M | $464M | −$1.1B |
| Net debt / EBITDA | 3.5x | 5.9x | — | 4.9x | 8.7x |
| Current ratio | 1.6x | 1.1x | 1.4x | 1.2x | 1.8x |
| Interest coverage | 2.8x | 0.1x | −8.3x | 0.3x | −0.6x |
| Returns and quality | |||||
| Return on capital | 7.8% | 0.2% | −31.4% | 2.1% | −3.9% |
| Return on equity | 17.7% | −14.0% | −190.9% | — | — |
| Piotroski F-score | 9 | 4 | 5 | 4 | 4 |
| Altman Z'' | 0.9 | −0.1 | −3.4 | −1.5 | −1.4 |
Insiders bought, 12 months
$1.1M
1 insider
Insiders sold, 12 months
$0.4M
1 insider
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Lumen Technologies · LUMN
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Lumen Technologies LUMN | $4.4B | −5.4% | −6.6% | 3.0% | −3.9% | — | 4 |
| Uniti Group UNIT | $1.2B | 91.5% | 11.7% | −19.6% | 4.0% | — | — |
| Cogent Communications CCOI | $362M | −5.8% | −10.4% | −20.3% | −3.8% | — | 4 |
| Iridium Communications IRDM | $4.8B | 4.9% | 27.1% | 34.4% | 8.7% | 29.4x | 7 |
| EchoStar ECHO | $31.4B | −5.2% | −118.1% | −7.1% | −39.9% | — | 1 |
KIRA
At $4.43 a share, the company is worth $4.4B.
Lumen Technologies grew sales faster than 1 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0000018926). Data updated October 11, 2026. For information only — not investment advice. Check the original filings before relying on any figure.