Lumen Technologies, Inc. (LUMN) Stock Analysis
Communication Services · Telecom Services · NYSE
Lumen Technologies, Inc. (LUMN) posted $12.40B in revenue for fiscal 2025 (down 5.4% year over year), with a net loss of $1.74B, and has compounded revenue about -9.7%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Lumen Technologies, Inc.
Lumen Technologies, Inc. has grown revenue from $17.47B to $12.40B over the last 10 fiscal years, compounding about -9.7% a year. The most recent year was down 5.4%, so growth is actually accelerating.
Net margin sits at -14%, down 13.6 points year over year on a 46.5% gross margin.
At today's valuation the market is pricing in roughly 9.5% annual free-cash-flow growth — versus the -33.2% it actually delivered over the last five years, so the price already assumes a step-up from the recent record. The one thing worth a second look in the filings is currently unprofitable.
Synthesised from Lumen Technologies, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Lumen Technologies, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.47B | $17.66B | $22.58B | $21.46B | $20.71B | $19.69B | $17.48B | $14.56B | $13.11B | $12.40B |
| Gross profit | $9.70B | $9.45B | $12.58B | $12.32B | $11.78B | $11.20B | $9.61B | $7.41B | $6.41B | $5.76B |
| Net income | $626.00M | $1.39B | $-1.73B | $-5.27B | $-1.23B | $2.03B | $-1.55B | $-10.30B | $-55.00M | $-1.74B |
| Net margin | 3.6% | 7.9% | -7.7% | -24.6% | -5.9% | 10.3% | -8.9% | -70.7% | -0.4% | -14.0% |
Source: Lumen Technologies, Inc. SEC filings (10-K). 18 years of history available in the interactive view.
Lumen Technologies, Inc.: 1 potential red flag in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -14.0%).
What growth is priced into LUMN stock?
At today's market cap of $8.43B, Lumen Technologies, Inc. is priced for free-cash-flow growth of about 9.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $371.00M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -33.2%/yr over the last five fiscal years and revenue -9.7%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Lumen Technologies, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Lumen Technologies, Inc. financial history by metric
Compare Lumen Technologies, Inc. with peers
About Lumen Technologies, Inc.
Lumen Technologies, Inc., a networking company, provides integrated products and services to business and mass customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber and conduit, edge cloud, internet protocol (IP), voice over IP, managed security, software-defined wide area networks, unified communications and collaboration, and optical services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice and private line; other legacy services, such as Synchronous Optical Network (SONET) based ethernet, legacy data hosting services, and conferencing services; and managed and professional service solutions, as well as sells communications equipment. The company also provides high speed and lower speed broadband service to residential and small business customers; local and long-distance voice services, professional services, and other ancillary services; and federal broadband and state support programs. It serves its products and services under the Lumen, CenturyLink, Black Lotus Labs, and Quantum Fiber brand name. The company was formerly known as CenturyLink, Inc. and changed its name to Lumen Technologies, Inc. in September 2020. Lumen Technologies, Inc. was incorporated in 1968 and is headquartered in Monroe, Louisiana.
Lumen Technologies, Inc. — frequently asked questions
What is Lumen Technologies, Inc.'s revenue?
Lumen Technologies, Inc. (LUMN) reported revenue of $12.40B for fiscal year 2025, down 5.4% from the prior year, according to its SEC filings.
Is Lumen Technologies, Inc. profitable?
No — LUMN reported a net loss of $-1.74B in fiscal 2025.
What is LUMN's P/E ratio?
Lumen Technologies, Inc. trades at a price-to-earnings ratio of about 0.0 based on the latest data in our nightly-refreshed cache.
How fast is Lumen Technologies, Inc. growing?
LUMN's revenue grew at roughly -9.7% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Lumen Technologies, Inc. have?
As of fiscal year 2025, LUMN carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Lumen Technologies, Inc.'s gross margin?
LUMN's gross margin was 46.5% in fiscal 2025 — gross profit of $5.76B on revenue of $12.40B.
What is Lumen Technologies, Inc.'s market cap?
Lumen Technologies, Inc. (LUMN) has a market capitalization of about $8.43B, based on the latest data in our nightly-refreshed cache.
When does Lumen Technologies, Inc.'s fiscal year end?
LUMN's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into LUMN stock?
At today's market cap of $8.43B, Lumen Technologies, Inc. is priced for free-cash-flow growth of about 9.5% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $371.00M from the FY ending 2025-12-31). For comparison, free cash flow actually grew -33.2%/yr over the last five fiscal years and revenue -9.7%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Lumen Technologies, Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.