Lumen Technologies, Inc. (LUMN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	-$0.14	-$0.07	+50.0%	—	—	—
Q4 26	-$0.12	-$0.47	-291.7%	—	—	—
Q3 26	-$0.27	$0.23	+185.2%	—	—	—
Q2 26	-$0.27	-$0.2	+25.9%	—	—	—
Q1 26	-$0.27	-$0.03	+88.9%	—	—	—
Q4 25	-$0.27	-$0.13	+51.9%	—	—	—
Q3 25	-$0.05	$0.09	+280.0%	—	—	—
Q2 25	-$0.08	-$0.13	-62.5%	—	—	—
Q1 25	-$0.04	-$0.13	-225.0%	—	—	—
Q4 24	$0.03	-$0.04	-233.3%	—	—	—
Q3 24	-$0.01	$0.08	+900.0%	—	—	—
Q2 24	$0.06	-$0.09	-250.0%	—	—	—
Q1 24	-$0.35	$0.1	+128.6%	—	—	—
Q4 23	$0.06	$0.1	+66.7%	—	—	—
Q3 23	$0.19	$0.43	+126.3%	—	—	—
Q2 23	$0.37	$0.14	-62.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.75	—	—	$12.4B	—
FY24	—	-$0.06	—	—	$13.1B	—
FY23	—	-$10.5	—	—	$14.6B	—
FY22	—	-$1.54	—	—	$17.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$17.5B	$17.7B	$22.6B	$21.5B	$20.7B	$19.7B	$17.5B	$14.6B	$13.1B	$12.4B
YoY change	-2.4%	+1.06%	+27.9%	-4.97%	-3.48%	-4.95%	-11.2%	-16.7%	-9.95%	-5.39%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	17.5B	17.7B	22.6B	21.5B	20.7B	19.7B	17.5B	14.6B	13.1B	12.4B
Cost of revenue	7.8B	8.2B	10B	9.1B	8.9B	8.5B	7.9B	7.1B	6.7B	6.6B
Gross profit	9.7B	9.5B	12.6B	12.3B	11.8B	11.2B	9.6B	7.4B	6.4B	5.8B
Gross margin	55.5%	53.5%	55.7%	57.4%	56.9%	56.9%	55%	50.9%	48.9%	46.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.4B	3.5B	4.2B	3.7B	3.5B	2.9B	3.1B	3.4B	3B	3.2B
Operating expenses	3.4B	3.5B	4.2B	3.7B	3.5B	2.9B	3.1B	3.4B	3B	3.2B
Operating income	2.3B	2B	3.3B	3.8B	3.6B	4.3B	3.3B	1.1B	477M	-184M
Operating margin	13.4%	11.4%	14.5%	17.6%	17.3%	21.8%	18.8%	7.36%	3.64%	-1.48%
Non-operating income, net	5M	12M	-2.7B	-6.5B	-2.7B	-62M	-3B	-10.2B	546M	-1.3B
Pretax income	1B	540M	-1.6B	-4.8B	-782M	2.7B	-991M	-10.2B	-230M	-2.7B
Income tax	394M	-849M	170M	503M	450M	668M	557M	61M	-175M	-977M
Net income	626M	1.4B	-1.7B	-5.3B	-1.2B	2B	-1.5B	-10.3B	-55M	-1.7B
Net margin	3.58%	7.87%	-7.67%	-24.6%	-5.95%	10.3%	-8.86%	-70.7%	-0.42%	-14%
EBITDA	6.3B	6B	8.5B	8.6B	8.3B	8.2B	6.7B	4.2B	3.6B	2.7B
EPS	1.16	2.21	-1.63	-4.92	-1.14	1.92	-1.54	-10.5	-0.06	-1.75
Diluted EPS	1.16	2.21	-1.63	-4.92	-1.14	1.91	-1.54	-10.5	-0.06	-1.75

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.6B	3.5B	3.3B	3.3B	3.2B	3.3B	3.2B	3.1B	3.1B	3B	2.9B	2.8B
Cost of revenue	1.9B	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.6B	1.7B	1.6B	1.4B	1.4B
Gross profit	1.8B	1.8B	1.6B	1.6B	1.5B	1.6B	1.5B	1.5B	1.4B	1.4B	1.5B	1.4B
Gross margin	49.2%	50.6%	49.8%	49.4%	47.5%	48.8%	47%	47.5%	44.9%	46.5%	50.5%	49.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	830M	937M	862M	742M	696M	711M	675M	755M	829M	940M	794M	779M
Operating expenses	830M	937M	862M	742M	696M	711M	675M	755M	829M	940M	794M	779M
Operating income	206M	92M	28M	130M	126M	154M	107M	25M	-116M	-200M	6M	-57M
Operating margin	5.66%	2.62%	0.85%	3.98%	3.91%	4.63%	3.36%	0.81%	-3.76%	-6.58%	0.21%	-2.03%
Non-operating income, net	4M	-2B	307M	188M	35M	55M	-26M	-856M	-396M	-45M	382M	-31M
Pretax income	-85M	-2.1B	102M	-41M	-172M	-119M	-245M	-1.1B	-813M	-509M	177M	-255M
Income tax	-7M	-147M	45M	8M	-24M	-204M	-44M	-234M	-192M	-507M	377M	-54M
Net income	-78M	-2B	57M	-49M	-148M	85M	-201M	-915M	-621M	-2M	-200M	-201M
Net margin	-2.14%	-56.7%	1.73%	-1.5%	-4.59%	2.55%	-6.32%	-29.6%	-20.1%	-0.07%	-6.9%	-7.17%
EBITDA	1B	787M	880M	887M	883M	947M	848M	730M	580M	513M	700M	646M
EPS	-0.08	-2.03	0.06	-0.05	-0.15	0.09	-0.2	-0.92	-0.62	0	-0.2	-0.2
Diluted EPS	-0.08	-2.03	0.06	-0.05	-0.15	0.09	-0.2	-0.92	-0.62	0	-0.2	-0.2

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	12.8B	—	—	14.2B	10.5B	13.3B	5.3B	1.8B	5.2B	7.7B	5.7B
Enterprise value	32.3B	—	—	47.6B	42.3B	42.3B	24.9B	19.8B	21.5B	24.4B	17.5B
Shares outstanding	539.5M	627.8M	1.1B	1.1B	1.1B	1.1B	1B	983.1M	987.7M	994.5M	994.5M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20.5	—	—	—	—	6.54	—	—	—	—	-3.16
P/S	0.73	—	—	0.66	0.51	0.68	0.3	0.12	0.4	0.62	0.48
P/B	0.96	—	—	1.05	0.94	1.12	0.51	4.31	11.3	-6.92	-3.73
EV/EBITDA	5.16	—	—	5.54	5.09	5.14	3.7	4.71	5.98	9.15	7.83
EV/Sales	1.85	—	—	2.22	2.04	2.15	1.43	1.36	1.64	1.97	1.48
Earnings yield	4.88%	—	—	—	—	15.3%	—	—	—	—	-31.6%
FCF yield	12.7%	—	—	21.6%	26.6%	27.1%	32.7%	-52.3%	21%	4.8%	37.1%
PEG	—	—	—	—	—	—	—	—	—	—	0.04

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	55.5%	53.5%	55.7%	57.4%	56.9%	56.9%	55%	50.9%	48.9%	46.5%	49.6%
Operating margin	13.4%	11.4%	14.5%	17.6%	17.3%	21.8%	18.8%	7.36%	3.64%	-1.48%	-2.89%
Net margin	3.58%	7.87%	-7.67%	-24.6%	-5.95%	10.3%	-8.86%	-70.7%	-0.42%	-14%	-8.65%
ROE	4.67%	5.91%	-8.74%	-39.1%	-11%	17.2%	-14.9%	-2.5K%	-11.9%	155.7%	155.7%
ROA	1.33%	1.84%	-2.47%	-8.14%	-2.07%	3.51%	-3.39%	-30.3%	-0.16%	-5.06%	-0.87%
ROIC	4.36%	3.31%	5.92%	8.06%	8.31%	7.89%	11%	5.81%	2.85%	-1.18%	-3.62%
Return on tangible assets	-66.7%	-12.8%	23.5%	-207.4%	-23.6%	16.8%	-19.4%	-53.8%	-0.28%	-6.85%	-4.51%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.97	0.86	0.69	0.66	0.48	1.61	1.11	1.35	1.21	1.8	0.96
Quick ratio	0.94	0.84	0.67	0.64	0.46	1.6	1.06	1.29	1.17	1.76	0.94
Debt / equity	1.47	1.61	1.82	2.61	2.89	2.48	2.02	48.6	39.1	-15.9	-0.09
Debt / assets	0.42	0.5	0.51	0.54	0.54	0.51	0.46	0.6	0.54	0.51	0.44
Net debt / EBITDA	3.11	6.24	4.21	3.89	3.83	3.52	2.92	4.28	4.52	6.25	4.76
Interest coverage	1.77	1.36	0.28	-1.36	0.53	2.77	0.26	-7.84	0.83	-1.12	-0.37
Effective tax rate	38.6%	0%	0%	0%	0%	24.7%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	32.4	28.1	21.2	20	19.2	18.6	17.3	14.8	13.3	12.5	11.8
EPS (basic)	1.16	2.21	-1.63	-4.92	-1.14	1.92	-1.54	-10.5	-0.06	-1.75	-1.75
EPS (diluted)	1.16	2.21	-1.63	-4.92	-1.14	1.91	-1.54	-10.5	-0.06	-1.75	-1.03
Book value per share	24.8	37.4	18.6	12.6	10.3	11.2	10.3	0.42	0.47	-1.12	-1.44
FCF per share	3.02	1.23	3.62	2.85	2.59	3.4	1.71	-0.96	1.12	0.37	0.83
Cash per share	0.41	0.88	0.46	1.58	0.38	0.33	1.24	2.27	1.91	1.01	1.82
Capex per share	5.47	2.44	0.15	0.09	0.14	0.13	0.12	0.17	0.37	4.39	4.51

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	16.9%	8.66%	0.7%	0.43%	0.74%	0.69%	0.69%	1.13%	2.79%	35.2%	38.3%
Capex / operating cash flow	65.2%	40.1%	3.3%	82.3%	4.14%	2.12%	8.69%	-2%	7.49%	92.2%	84.4%
Payout ratio	186.4%	104.6%	-133.4%	-20.9%	-90%	53.5%	-50.4%	-0.11%	-5.45%	-0.06%	0%
Dividend yield	9.1%	—	—	7.77%	10.5%	8.17%	14.8%	0.61%	0.06%	0.01%	18.1%

Yield

18.1%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.25

ex-dividend Aug 29, 2022

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 29, 2022	$0.25
May 27, 2022	$0.25
Mar 7, 2022	$0.25

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.6B	$3.5B	$3.3B	$3.3B	$3.2B	$3.3B	$3.2B	$3.1B	$3.1B	$3B	$2.9B	$2.8B
YoY change	-17.1%	-7.45%	-12%	-10.7%	-11.5%	-5.35%	-3.28%	-5.39%	-4.16%	-8.65%	-8.89%	-9.28%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	222M	551M	488M	1.7B	406M	354M	1.3B	2.2B	1.9B	1B
Receivables	1.9B	2.2B	2.1B	2B	1.7B	1.3B	1.3B	1.2B	1.2B	1.3B
Inventory	134M	128M	120M	105M	105M	96M	236M	209M	146M	165M
Total current assets	5.2B	4.2B	3.8B	4.8B	3.2B	11.5B	5.5B	4.8B	4.4B	7.9B
Property, plant & equipment	10.4B	19.3B	18.4B	19.8B	18.1B	13.7B	12.3B	13B	13.6B	12.6B
Goodwill & intangibles	48B	86.5B	77.6B	62.2B	54.2B	45.9B	37.6B	14.9B	13.5B	9B
Total assets	47B	75.6B	70.3B	64.7B	59.4B	58B	45.6B	34B	33.5B	34.4B
Accounts payable	1.2B	1.6B	1.9B	1.7B	1.1B	758M	1B	1.1B	749M	1.5B
Short-term debt	1.5B	443M	652M	2.7B	2.8B	1.9B	498M	425M	665M	354M
Total current liabilities	5.3B	4.9B	5.5B	7.3B	6.6B	7.2B	4.9B	3.5B	3.6B	4.4B
Long-term debt	18.2B	37.3B	35.4B	32.4B	29.4B	27.4B	20.4B	19.8B	17.5B	17.4B
Total liabilities	33.6B	52.1B	50.4B	51.3B	48.2B	46.2B	35.2B	33.6B	33B	35.5B
Shareholders' equity	13.4B	23.5B	19.8B	13.5B	11.2B	11.8B	10.4B	417M	464M	-1.1B
Total debt	19.7B	37.7B	36.1B	35.1B	32.2B	29.4B	20.9B	20.3B	18.2B	17.7B
Net debt	19.5B	37.2B	35.6B	33.4B	31.8B	29B	19.7B	18B	16.3B	16.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	311M	2.2B	1.6B	1.5B	2.6B	1.9B	1.9B	1.6B	2.4B	1B	1.6B	1.9B
Receivables	1.4B	1.2B	1.3B	1.3B	1.2B	1.2B	1.2B	1.3B	1.3B	1.3B	1.6B	1.4B
Inventory	227M	209M	193M	184M	173M	146M	124M	126M	163M	165M	132M	122M
Total current assets	4.6B	4.8B	3.9B	3.8B	4.7B	4.4B	4.3B	7.7B	8.7B	7.9B	4.1B	4.1B
Property, plant & equipment	-21B	13B	19.9B	-22.1B	-22.5B	13.6B	20.6B	11.8B	12.2B	12.6B	-24B	-24.4B
Goodwill & intangibles	19.2B	14.9B	14.5B	14.2B	13.9B	13.5B	13.2B	9.1B	8.8B	9B	8.5B	8.1B
Total assets	35.9B	34B	33.2B	32.9B	34B	33.5B	33.5B	33B	34.3B	34.4B	30.6B	30.8B
Accounts payable	1B	1.1B	1.2B	995M	905M	749M	773M	831M	1.1B	1.5B	1.2B	1B
Short-term debt	451M	425M	368M	473M	678M	665M	593M	606M	367M	354M	325M	345M
Total current liabilities	3.9B	3.5B	3.8B	3.7B	3.9B	3.6B	3.5B	3.6B	3.9B	4.4B	4.2B	4.3B
Long-term debt	19.7B	19.8B	18.6B	18.4B	18.1B	17.5B	17.3B	17.6B	17.6B	17.4B	12.9B	13.2B
Total liabilities	33.7B	33.6B	32.7B	32.5B	33.6B	33B	33.2B	33.6B	35.5B	35.5B	31.9B	32.3B
Shareholders' equity	2.2B	417M	504M	466M	342M	464M	289M	-595M	-1.2B	-1.1B	-1.3B	-1.5B
Total debt	20.2B	20.3B	19B	18.9B	18.8B	18.2B	17.9B	18.2B	17.9B	17.7B	13.3B	13.5B
Net debt	19.9B	18B	17.4B	17.4B	16.2B	16.3B	16B	16.6B	15.5B	16.7B	11.6B	11.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	626M	1.4B	-1.7B	-5.3B	-1.2B	2B	-1.5B	-10.3B	-55M	-1.7B
Depreciation & amortization	3.9B	3.9B	5.1B	4.8B	4.7B	4B	3.2B	3B	3B	2.7B
Stock-based compensation	80M	111M	186M	162M	175M	120M	98M	52M	29M	48M
Change in working capital	-126M	-826M	680M	-33M	-417M	-408M	798M	-999M	2.4B	2.7B
Operating cash flow	4.5B	3.8B	4.8B	113M	3.7B	6.4B	1.4B	-8.2B	4.9B	4.7B
Capital expenditure	-3B	1.5B	158M	93M	153M	135M	120M	165M	366M	-4.4B
Investing cash flow	-3B	-5.8B	97M	58M	165M	188M	8.5B	1.9B	401M	-4.4B
Dividends paid	-1.2B	-1.5B	-2.3B	-1.1B	-1.1B	-1.1B	-780M	-11M	-3M	-1M
Share repurchases	-16M	-17M	—	0	0	-1B	-200M	0	0	—
Financing cash flow	-1.5B	5.3B	-4B	-1.9B	-4.3B	-3.8B	-9.3B	-18M	-1.9B	-1.3B
Net change in cash	6M	3.4B	867M	-1.7B	-386M	2.8B	560M	-6.4B	3.4B	-933M
Free cash flow	1.6B	772M	3.9B	3.1B	2.8B	3.6B	1.7B	-940M	1.1B	371M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-78M	-2B	57M	-49M	-148M	85M	-201M	-915M	-621M	-2M	-200M	-201M
Depreciation & amortization	755M	751M	748M	743M	707M	758M	713M	688M	674M	674M	664M	668M
Stock-based compensation	16M	13M	14M	-3M	10M	8M	10M	12M	13M	13M	13M	18M
Change in working capital	114M	143M	677M	-35M	1.6B	62M	657M	80M	2.2B	-170M	1.7B	553M
Operating cash flow	807M	-1.2B	1.4B	685M	2.3B	574M	1B	570M	2.5B	562M	1.3B	971M
Capital expenditure	9M	130M	12M	252M	19M	83M	14M	-891M	-1B	-1.6B	-943M	-902M
Investing cash flow	16M	1.9B	15M	262M	50M	84M	22M	-890M	-1B	-1.6B	4B	-902M
Dividends paid	-1M	-1M	-3M	0	0	0	-1M	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-1.1B	1B	-1.1B	-100M	122M	-610M	-314M	-30M	-651M	-323M	-4.8B	174M
Net change in cash	-274M	1.7B	399M	847M	2.4B	48M	757M	-350M	820M	-1.4B	606M	243M
Free cash flow	38M	-37M	389M	-242M	1.2B	-227M	304M	-321M	1.5B	-1.1B	380M	69M

Date	Ratio
Apr 1, 1999	3:2
Apr 1, 1998	3:2
Jan 4, 1993	3:2
Mar 27, 1989	3:2
Aug 2, 1988	3:2

Lumen Technologies, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history