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Lumen Technologies, Inc. (LUMN)

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Lumen Technologies, Inc. (LUMN) reported revenue of $2.8 billion for Q2 FY2026, the quarter ended 30 June 2026, down 9.3% on the same quarter a year earlier. Net income was -$201 million, and diluted earnings per share $-0.20. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue$2.8 billiondown 9.3%
Net income-$201 million
Diluted EPS$-0.20
QuarterQ2 FY2026ended 30 June 2026

Lumen Technologies (LUMN) in brief

Lumen Technologies (LUMN) reported revenue of $12.4 billion for fiscal 2025, the year ended 31 December 2025, down 5.4% on the year before.
Read moreNet loss was $1.7 billion and the diluted loss per share $1.75. Revenue was $13.1 billion in fiscal 2024, $14.6 billion in fiscal 2023, $17.5 billion in fiscal 2022 and $19.7 billion in fiscal 2021. Net income in the same years was a loss of $55 million, a loss of $10.3 billion, a loss of $1.5 billion and $2.0 billion. Over the twelve months to 30 June 2026, Lumen Technologies reported revenue of $11.8 billion and net loss of $1.0 billion. Revenue fell 9.7% a year, compounded, over the five years to fiscal 2025. Lumen Technologies had 1.03 billion shares outstanding at the latest filed count. At 30 June 2026 it carried $13.2 billion of debt and $1.9 billion of cash. At the close of 9 October 2026 the market cap of Lumen Technologies was $5.4 billion.

Ratios

From the filings

ROEn/a
ROCEn/a
Operating margin1.7%
Net margin-8.7%
FCF margin7.1%
Interest cover0.19
Debt to equityn/a
Cash conversionn/a
Share count, 1 year0.3%
Sales CAGR, 3 years-10.8%
Profit CAGR, 3 yearsn/a
EPS, TTM-$1.03

At the close of 9 October 2026

Price$5.28
Market cap$5.4 billion
Stock P/En/a
Price to bookn/a
EV / EBITDA5.81
Dividend yield0.0%
Market cap / sales0.46
52-week high$11.83
52-week low$5.28
Price, 1 year-22.9%
Price CAGR, 3 years56.0%
Price CAGR, 5 years-15.8%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the one borrowings figure Lumen Technologies, Inc. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
LUMNgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LUMN

Filings41 in twelve months: 31 current reports (8-K), about 17 other events; 7 material agreement; 6 regulation FD disclosure; 6 officer or director change; 6 new financial obligation
Planned insider sales1 Form 144 notice in twelve months, $355,077; latest 20 February 2026
Options tapeput/call 1.14 by open interest at the 9 October 2026 close; the straddle prices a 7.3% move to 16 October 2026
13F holders9 of the followed funds hold it; largest FMR LLC; 2 Schedule 13D or 13G filings in twelve months
Insider trading1 sale and 2 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest66.4 million shares short, 5.13 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,6413,5173,2903,2683,2213,3293,1823,0923,0873,0412,8992,805
Cost of revenue1,8501,7371,6521,6531,6921,7061,6871,6241,7001,6271,4351,415
Gross profit1,7911,7801,6381,6151,5291,6231,4951,4681,3871,4141,4641,390
Gross margin49%51%50%49%47%49%47%47%45%46%51%50%
SG&A791896823742696711675755829940794779
Operating income223-1,77645.0135126154107-603-116-200602-88.0
Operating margin6%-50%1%4%4%5%3%-20%-4%-7%21%-3%
Interest expense295290291373351357347338319280225201
Pre-tax income-85.0-2,142102-41.0-172-119-245-1,149-813-509177-255
Tax raten/an/a44%n/an/an/an/an/an/an/a213%n/a
Net income-78.0-1,99557.0-49.0-14885.0-201-915-621-2.0-200-201
Net margin-2%-57%2%-1%-5%3%-6%-30%-20%-0%-7%-7%
Diluted EPS-$0.08-$2.03$0.06-$0.05-$0.15$0.09-$0.20-$0.92-$0.62-$0.01-$0.20-$0.20
Operating cash flow8817841,1025112,0326881,0955702,5115621,323971
Capital expenditure8438217137538509157918911,0411,644943902
Free cash flow38.0-37.0389-2421,182-227304-3211,470-1,08238069.0
Dividends paid1.01.03.00.00.00.01.0n/an/an/an/an/a
Shares outstanding1,009m1,008m1,016m1,016m1,015m1,015m1,025m1,027m1,026m1,025m1,030m1,030m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016FY2017FY2018 †FY2019 †FY2020FY2021 †FY2022 †FY2023FY2024FY2025TTM
Revenue18,03117,90017,47017,65622,58021,45820,71219,68717,47814,55713,10812,40211,832
Cost of revenue7,8467,7787,7748,2039,9999,1348,9348,4887,8687,1446,7036,6386,177
Gross profit10,18510,1229,6969,45312,58112,32411,77811,1999,6107,4136,4055,7645,655
Gross margin56.5%56.5%55.5%53.5%55.7%57.4%56.9%56.9%55.0%50.9%48.9%46.5%47.8%
Selling, general and administrative3,3473,3543,4493,5084,1653,7153,4642,8953,0783,1982,9723,1993,342
Operating income2,4102,5792,3312,009570-2,7269624,28595.0-9,584460-812198
Operating margin13.4%14.4%13.3%11.4%2.5%-12.7%4.6%21.8%0.5%-65.8%3.5%-6.5%1.7%
Interest expense1,3111,3121,3181,4812,1772,0211,6681,5221,3321,1581,3721,2841,025
Pre-tax income1,1101,3161,020540-1,563-4,766-7822,701-991-10,237-230-2,716-1,400
Income tax338438394-84917050345066855761.0-175-977-376
Effective tax rate30.5%33.3%38.6%-157.2%n/an/an/a24.7%n/an/an/an/an/a
Net income7728786261,389-1,733-5,269-1,2322,033-1,548-10,298-55.0-1,739-1,024
Net margin4.3%4.9%3.6%7.9%-7.7%-24.6%-5.9%10.3%-8.9%-70.7%-0.4%-14.0%-8.7%
Diluted EPS$1.36$1.58$1.16$2.21-$1.63-$4.92-$1.14$1.91-$1.54-$10.48-$0.06-$1.75-$1.03
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Business11,58610,3669,89579.8%
Mass Markets2,9712,7422,50720.2%
BusinessMass Markets
14.6FY202313.1FY202412.4FY2025

$ billion; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016FY2017FY2018 †FY2019 †FY2020FY2021 †FY2022 †FY2023FY2024FY2025TTM
Operating cash flow5,1885,1534,6083,8787,0326,6806,5246,5014,7352,1604,3334,7385,367
Capital expenditure3,0472,8722,9813,1063,1753,6283,7292,9003,0163,1003,2314,3674,530
Free cash flow2,1412,2811,6277723,8573,0522,7953,6011,719-9401,102371837
Free cash flow margin11.9%12.7%9.3%4.4%17.1%14.2%13.5%18.3%9.8%-6.5%8.4%3.0%7.1%
Cash from investingn/an/a-2,994-8,871-3,078-3,570-3,564-2,7125,476-1,201-2,830-4,305493
Cash from financingn/an/a-1,5185,356-4,023-1,911-4,250-3,807-9,313-18.0-1,851-1,319-5,552
Depreciation and amortisation4,4284,1893,9163,9365,1204,8294,7104,0193,2392,9852,9562,7492,680
Share-based compensation79.073.080.011118616217512098.052.029.048.057.0
Buybacks65081916.017.0n/a0.00.01,0002000.00.0n/an/a
Dividends paid1,2281,1981,1671,4532,3121,1001,1091,08778011.03.01.0n/a
Dividend per sharen/an/a$2.16$2.16$2.16$1.00$1.00$1.00$0.75$0.00$0.00n/an/a
Diluted shares, weighted570m555m541m629m1,066m1,071m1,079m1,067m1,008m983m988m995m1,004m
Shares outstanding at period end569m544m547m1,069m1,080m1,090m1,097m1,024m1,002m1,008m1,015m1,025m1,030m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016FY2017FY2018 †FY2019 †FY2020FY2021 †FY2022 †FY2023FY2024FY2025TTM
Funded by
Shareholders' equity15,02314,06013,39923,49119,82813,47011,16211,77710,374417464-1,117-1,488
Debt19,95318,72218,18537,28335,40932,39429,41027,42820,41819,83117,49417,35313,150
Operating lease liabilitiesn/an/an/an/an/a1,3421,4051,1711,0881,0409591,113n/a
Finance lease liabilitiesn/an/an/an/an/a185267251234215198183n/a
Other liabilities14,12714,82215,43314,83715,01917,35117,15017,36613,46712,51514,38116,81019,120
Total liabilities and equity49,10347,60447,01775,61170,25664,74259,39457,99345,58134,01833,49634,34230,782
Owned
Fixed assets18,43318,06917,03926,85226,40826,07926,33820,89519,16619,75820,421n/an/a
Goodwill20,75520,74219,65030,47528,03121,53418,87015,98612,6571,9641,9640.0n/a
Intangible assetsn/an/an/a10,8768,9119,5678,2196,9706,1665,4704,8064,4634,040
Cash and equivalents1281262225514881,6904063541,2512,2341,8891,0031,876
Receivables1,9881,9432,0172,5572,3982,2591,9621,5441,5081,3181,2311,3141,377
Other assets7,7996,7248,0894,3004,0203,6133,59912,2444,8333,2743,18527,56223,489
Total assets49,10347,60447,01775,61170,25664,74259,39457,99345,58134,01833,49634,34230,782
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-3.6%-9.7%-10.8%-7.7%
Profit growth, compoundedn/an/an/an/a
Return on equity, average-280.8%-619.8%-1240.7%n/a
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Lumen Technologies' revenue in fiscal 2025?

Lumen Technologies (LUMN) reported revenue of $12.4 billion for fiscal 2025, the year ended 31 December 2025, down 5.4% on the year before.

How much did Lumen Technologies earn in fiscal 2025?

Net loss was $1.7 billion for fiscal 2025, and the diluted loss per share $1.75.

What is Lumen Technologies' market cap?

The market cap of Lumen Technologies was $5.4 billion at the close of 9 October 2026.

How much debt does Lumen Technologies have?

At 30 June 2026 Lumen Technologies carried $13.2 billion of debt and $1.9 billion of cash.

Peers: Communication

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Charter Communications, Inc. CHTR$12.5 billion2.6829.0%23.3%-1.5%5.54n/a
Viasat Inc. VSAT$9.9 billionn/a-0.6%2.4%1.3%1.25n/a
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
All 26 in Communication
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
T-Mobile US, Inc. TMUS$159.7 billion15.5618.8%19.8%9.7%1.502.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Spotify Technology S.A. SPOT *$108.9 billion44.7226.6%12.8%9.7%0.18n/a
Warner Bros. Discovery, Inc. WBD$77.6 billionn/a-9.6%-3.5%-6.1%0.98n/a
Comcast Corp. CMCSA$73.7 billion6.6812.5%14.7%0.6%0.946.4%
Vodafone Group Public Limited Company VOD *$35.9 billionn/a-0.8%7.0%8.0%1.043.5%
Chunghwa Telecom Co. Ltd. CHT *$35.7 billion29.5610.1%20.6%2.7%0.073.5%
EchoStar Corp. ECHO$33.4 billionn/a-40.1%-112.7%-5.2%1.13n/a
Fox Corp. FOXA$27.4 billion16.2614.5%n/a5.1%0.57n/a
Fox Corp. FOX$24.5 billion14.5614.5%n/a5.1%0.57n/a
Roku, Inc. ROKU$22.6 billion65.3212.6%5.2%18.5%0.00n/a
Tencent Music Entertainment Group TME *$13.2 billionn/a13.8%40.6%15.8%0.042.1%
Charter Communications, Inc. CHTR$12.5 billion2.6829.0%23.3%-1.5%5.54n/a
Viasat Inc. VSAT$9.9 billionn/a-0.6%2.4%1.3%1.25n/a
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
Cogent Communications Holdings, Inc. CCOI$437 millionn/an/a8.0%-4.5%n/a35.7%
5 companies share its SEC industry code (Telephone Communications (No Radiotelephone)); the rest are the names nearest in size in its wider industry, Communication, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202520 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 20245 November 2024EDGAR
10-Q30 June 20246 August 2024EDGAR
10-Q31 March 202430 April 2024EDGAR

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