NYSE : LUMN
Lumen Technologies, Inc. — Financial statements
Communication Services · Telecom Services · United States
Last price 4.88 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 5.03B
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Financial statements
Lumen Technologies, Inc. (LUMN) reported revenue of 11.83B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 11.83B | 12.40B | 13.11B | 14.56B | 17.48B | 19.69B |
| Cost of Revenue | 6.18B | 6.64B | 6.70B | 7.14B | 7.87B | 8.49B |
| Gross Profit | 5.66B | 5.76B | 6.41B | 7.41B | 9.61B | 11.20B |
| Selling, General & Admin | 3.42B | 3.32B | 2.99B | 3.35B | 3.08B | 2.90B |
| Operating Expenses | 6.10B | 6.07B | 5.95B | 6.34B | 6.32B | 6.91B |
| Operating Income | -445.00M | -304.00M | 455.00M | 1.07B | 3.29B | 4.29B |
| Interest Expense | -1.02B | -1.28B | -1.37B | -1.16B | -1.33B | -1.52B |
| Interest & Investment Income | 82.00M | 75.00M | 119.00M | |||
| Currency Exchange Gain (Loss) | -10.00M | 14.00M | -25.00M | |||
| Other Non Operating Income (Expenses) | 186.00M | 215.00M | 197.00M | 44.00M | 32.00M | -70.00M |
| EBT Excluding Unusual Items | -1.21B | -1.28B | -626.00M | -41.00M | 1.99B | 2.69B |
| Merger & Restructuring Charges | -64.00M | -64.00M | -130.00M | |||
| Impairment of Goodwill | -628.00M | -10.69B | -3.27B | |||
| Gain (Loss) on Sale of Investments | 195.00M | |||||
| Gain (Loss) on Sale of Assets | 565.00M | -17.00M | -121.00M | 73.00M | ||
| Other Unusual Items | -689.00M | -740.00M | 348.00M | 618.00M | 214.00M | 8.00M |
| Pretax Income | -1.40B | -2.72B | -230.00M | -10.24B | -991.00M | 2.70B |
| Income Tax Expense | -376.00M | -977.00M | -175.00M | 61.00M | 557.00M | 668.00M |
| Net Income | -1.02B | -1.74B | -55.00M | -10.30B | -1.55B | 2.03B |
| Net Income to Common | -1.02B | -1.74B | -55.00M | -10.30B | -1.55B | 2.03B |
| Shares Outstanding (Basic) | 998.84M | 994.55M | 987.68M | 983.08M | 1.01B | 1.06B |
| Shares Outstanding (Diluted) | 998.84M | 994.55M | 987.68M | 983.08M | 1.01B | 1.07B |
| EPS (Basic) | -1.03 | -1.75 | -0.06 | -10.48 | -1.54 | 1.92 |
| EPS (Diluted) | -1.03 | -1.75 | -0.06 | -10.48 | -1.54 | 1.91 |
| Free Cash Flow | 837.00M | 371.00M | 1.10B | -940.00M | 1.72B | 3.60B |
| Free Cash Flow Per Share | 0.84 | 0.37 | 1.12 | -0.96 | 1.71 | 3.38 |
| Dividend Per Share | 0.75 | 1.00 | ||||
| Gross Margin | 47.79% | 46.48% | 48.86% | 50.92% | 54.98% | 56.88% |
| Operating Margin | -3.76% | -2.45% | 3.47% | 7.37% | 18.84% | 21.77% |
| Profit Margin | -8.65% | -14.02% | -0.42% | -70.74% | -8.86% | 10.33% |
| Free Cash Flow Margin | 7.07% | 2.99% | 8.41% | -6.46% | 9.84% | 18.29% |
| EBITDA | 2.23B | 2.44B | 3.41B | 4.06B | 6.53B | 8.30B |
| EBITDA Margin | 18.89% | 19.71% | 26.02% | 27.88% | 37.37% | 42.18% |
| D&A For EBITDA | 2.68B | 2.75B | 2.96B | 2.98B | 3.24B | 4.02B |
| EBIT | -445.00M | -304.00M | 455.00M | 1.07B | 3.29B | 4.29B |
| EBIT Margin | -3.76% | -2.45% | 3.47% | 7.37% | 18.84% | 21.77% |
| Effective Tax Rate | 24.73% | |||||
| Advertising Expenses | 84.00M | 94.00M | 87.00M | 62.00M | 56.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.88B | 1.00B | 1.89B | 2.23B | 1.25B | 354.00M |
| Cash & Short-Term Investments | 1.88B | 1.00B | 1.89B | 2.23B | 1.25B | 354.00M |
| Accounts Receivable | 1.39B | 1.29B | 1.20B | 1.30B | 1.46B | 1.53B |
| Other Receivables | 13.00M | 511.00M | 529.00M | 312.00M | 70.00M | 140.00M |
| Receivables | 1.41B | 1.80B | 1.73B | 1.61B | 1.53B | 1.72B |
| Inventory | 122.00M | 165.00M | 146.00M | 209.00M | 236.00M | 96.00M |
| Prepaid Expenses | 437.00M | 404.00M | 372.00M | 395.00M | 319.00M | 295.00M |
| Restricted Cash | 2.00M | |||||
| Other Current Assets | 268.00M | 4.54B | 257.00M | 327.00M | 2.11B | 9.07B |
| Total Current Assets | 4.11B | 7.91B | 4.39B | 4.78B | 5.45B | 11.54B |
| Property, Plant & Equipment | 20.30B | 20.87B | 21.54B | 20.99B | 20.51B | 22.35B |
| Goodwill | 1.96B | 1.96B | 12.66B | 15.99B | ||
| Other Intangible Assets | 4.04B | 4.46B | 4.81B | 5.47B | 6.17B | 6.97B |
| Long-Term Deferred Tax Assets | 145.00M | 96.00M | 112.00M | 133.00M | 160.00M | |
| Other Long-Term Assets | 2.33B | 959.00M | 696.00M | 709.00M | 699.00M | 995.00M |
| Total Assets | 30.78B | 34.34B | 33.50B | 34.02B | 45.61B | 57.99B |
| Accounts Payable | 1.03B | 1.51B | 749.00M | 1.13B | 1.04B | 758.00M |
| Accrued Expenses | 830.00M | 1.00B | 913.00M | 864.00M | 873.00M | 1.14B |
| Current Portion of Long-Term Debt | 69.00M | 395.00M | 141.00M | 138.00M | 1.53B | |
| Current Portion of Leases | 345.00M | 285.00M | 270.00M | 284.00M | 360.00M | 404.00M |
| Current Income Taxes Payable | 755.00M | 279.00M | 272.00M | 251.00M | 1.16B | 228.00M |
| Current Unearned Revenue | 999.00M | 1.00B | 861.00M | 647.00M | 596.00M | 617.00M |
| Other Current Liabilities | 299.00M | 241.00M | 179.00M | 213.00M | 728.00M | 2.49B |
| Total Current Liabilities | 4.26B | 4.39B | 3.64B | 3.53B | 4.90B | 7.17B |
| Long-Term Debt | 12.94B | 17.17B | 17.30B | 19.62B | 20.18B | 27.18B |
| Long-Term Leases | 206.00M | 1.30B | 1.16B | 1.25B | 1.32B | 1.42B |
| Long-Term Unearned Revenue | 8.18B | 6.41B | 3.73B | 1.97B | 1.76B | |
| Pension & Post-Retirement Benefits | 1.93B | 2.10B | 2.21B | 2.49B | 2.39B | 3.71B |
| Long-Term Deferred Tax Liabilities | 1.79B | 2.27B | 2.89B | 3.13B | 3.16B | 4.05B |
| Other Long-Term Liabilities | 2.96B | 1.82B | 2.11B | 1.61B | 1.52B | 2.63B |
| Total Liabilities | 32.27B | 35.46B | 33.03B | 33.60B | 35.24B | 46.15B |
| Common Stock | 19.18B | 19.18B | 19.15B | 1.01B | 1.00B | 1.02B |
| Additional Paid-In Capital | 18.13B | 18.08B | 18.97B | |||
| Retained Earnings | -20.10B | -19.70B | -17.96B | -17.91B | -7.61B | -6.00B |
| Comprehensive Income & Other | -564.00M | -601.00M | -723.00M | -810.00M | -1.10B | -2.16B |
| Shareholders' Equity | -1.49B | -1.12B | 464.00M | 417.00M | 10.37B | 11.84B |
| Total Liabilities & Equity | 30.78B | 34.34B | 33.50B | 34.02B | 45.61B | 57.99B |
| Total Debt | 13.49B | 18.82B | 19.12B | 21.30B | 22.00B | 30.54B |
| Net Cash (Debt) | -11.62B | -17.82B | -17.23B | -19.06B | -20.75B | -30.18B |
| Net Cash Per Share | -11.63 | -17.91 | -17.44 | -19.39 | -20.60 | -28.29 |
| Filing Date Shares Outstanding | 1.03B | 1.02B | 1.01B | 1.01B | 1.00B | 1.02B |
| Total Common Shares Outstanding | 1.03B | 1.03B | 1.01B | 1.01B | 1.00B | 1.02B |
| Working Capital | -154.00M | 3.52B | 755.00M | 1.24B | 554.00M | 4.37B |
| Book Value Per Share | -1.44 | -1.09 | 0.46 | 0.41 | 10.36 | 11.57 |
| Tangible Book Value | -5.53B | -5.58B | -6.31B | -7.02B | -8.45B | -11.12B |
| Tangible Book Value Per Share | -5.37 | -5.44 | -6.21 | -6.96 | -8.43 | -10.86 |
| Land | 629.00M | 630.00M | 646.00M | 651.00M | 751.00M | |
| Machinery | 16.45B | 16.62B | 15.74B | 15.08B | 15.39B | |
| Construction In Progress | 2.47B | 2.14B | 2.76B | 2.01B | 1.47B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.02B | -1.74B | -55.00M | -10.30B | -1.55B | 2.03B |
| Depreciation & Amortization | 2.68B | 2.75B | 2.96B | 2.98B | 3.24B | 4.02B |
| Loss (Gain) From Sale of Assets | -565.00M | 17.00M | 121.00M | -73.00M | ||
| Asset Writedown & Restructuring Costs | 109.00M | 737.00M | 83.00M | 10.72B | 3.28B | |
| Loss (Gain) From Sale of Investments | -195.00M | 97.00M | 191.00M | -138.00M | ||
| Stock-Based Compensation | 57.00M | 48.00M | 29.00M | 52.00M | 98.00M | 120.00M |
| Provision & Write-off of Bad Debts | 46.00M | 70.00M | 72.00M | 100.00M | 133.00M | 105.00M |
| Other Operating Activities | -91.00M | 35.00M | -636.00M | -610.00M | -1.44B | 590.00M |
| Change in Accounts Receivable | -156.00M | -168.00M | 19.00M | 102.00M | -158.00M | -8.00M |
| Change in Accounts Payable | 140.00M | 632.00M | -202.00M | -97.00M | 98.00M | -261.00M |
| Change in Unearned Revenue | 3.73B | 2.67B | 1.76B | 230.00M | 6.00M | |
| Change in Income Taxes | 860.00M | 20.00M | -189.00M | -1.19B | 972.00M | -69.00M |
| Change in Other Net Operating Assets | -416.00M | -319.00M | 671.00M | -57.00M | -55.00M | 110.00M |
| Operating Cash Flow | 5.37B | 4.74B | 4.33B | 2.16B | 4.74B | 6.50B |
| Capital Expenditures | -4.53B | -4.37B | -3.23B | -3.10B | -3.02B | -2.90B |
| Sale of Property, Plant & Equipment | 37.00M | 47.00M | 366.00M | 165.00M | 120.00M | 135.00M |
| Divestitures | 4.98B | 15.00M | 1.75B | 8.37B | ||
| Other Investing Activities | 9.00M | 15.00M | 20.00M | -12.00M | 3.00M | 53.00M |
| Investing Cash Flow | 493.00M | -4.30B | -2.83B | -1.20B | 5.48B | -2.71B |
| Long-Term Debt Issued | 8.16B | 1.32B | 200.00M | 1.93B | ||
| Long-Term Debt Repaid | -8.82B | -2.88B | -185.00M | -8.29B | -3.60B | |
| Net Debt Issued (Repaid) | -5.16B | -660.00M | -1.55B | 15.00M | -8.29B | -1.67B |
| Repurchase of Common Stock | -200.00M | -1.00B | ||||
| Common Dividends Paid | -1.00M | -1.00M | -3.00M | -11.00M | -780.00M | -1.09B |
| Other Financing Activities | -389.00M | -658.00M | -295.00M | -22.00M | -40.00M | -53.00M |
| Financing Cash Flow | -5.55B | -1.32B | -1.85B | -18.00M | -9.31B | -3.81B |
| Net Cash Flow | 308.00M | -886.00M | -348.00M | 941.00M | 898.00M | -18.00M |
| Free Cash Flow | 837.00M | 371.00M | 1.10B | -940.00M | 1.72B | 3.60B |
| Free Cash Flow Margin | 7.07% | 2.99% | 8.41% | -6.46% | 9.84% | 18.29% |
| Free Cash Flow Per Share | 0.84 | 0.37 | 1.12 | -0.96 | 1.71 | 3.38 |
| Levered Free Cash Flow | 2.12B | -5.90B | -918.12M | 252.88M | 7.70B | -4.04B |
| Unlevered Free Cash Flow | 2.76B | -5.10B | -60.62M | 976.62M | 8.53B | -3.09B |
| Cash Interest Paid | 914.00M | 1.22B | 1.25B | 1.14B | 1.36B | 1.49B |
| Cash Income Tax Paid | 18.00M | -242.00M | 1.30B | 76.00M | 112.00M | |
| Change in Working Capital | 4.16B | 2.84B | 2.06B | -1.01B | 863.00M | -228.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 5.03B | 7.97B | 5.39B | 1.85B | 5.40B | 12.85B |
| Enterprise Value | 16.65B | 23.51B | 21.57B | 21.73B | 30.78B | 42.36B |
| Last Close Price | 4.88 | 7.77 | 5.31 | 1.83 | 5.22 | 11.72 |
| PE Ratio | 6.32 | |||||
| Forward PE | 4.15 | 4.15 | 4.15 | 6.54 | 6.97 | |
| PS Ratio | 0.43 | 0.64 | 0.41 | 0.13 | 0.31 | 0.65 |
| PB Ratio | -7.13 | 11.61 | 4.43 | 0.52 | 1.08 | |
| P/FCF Ratio | 6.01 | 21.48 | 4.89 | 3.14 | 3.57 | |
| P/OCF Ratio | 0.94 | 1.68 | 1.24 | 0.85 | 1.14 | 1.98 |
| PEG Ratio | 13.47 | 13.47 | 13.47 | 13.47 | 2.33 | |
| EV/Sales Ratio | 1.41 | 1.90 | 1.65 | 1.49 | 1.76 | 2.15 |
| EV/EBITDA Ratio | 7.45 | 9.62 | 6.32 | 5.35 | 4.71 | 5.10 |
| EV/EBIT Ratio | 47.40 | 20.25 | 9.35 | 9.89 | ||
| EV/FCF Ratio | 19.90 | 63.38 | 19.57 | 17.91 | 11.77 | |
| Debt / Equity Ratio | -9.07 | -16.85 | 41.20 | 51.07 | 2.12 | 2.58 |
| Debt / EBITDA Ratio | 5.17 | 6.63 | 4.99 | 4.74 | 3.16 | 3.46 |
| Debt / FCF Ratio | 16.12 | 50.73 | 17.35 | 12.80 | 8.48 | |
| Net Debt / Equity Ratio | -7.81 | -15.95 | 37.13 | 45.71 | 2.00 | 2.55 |
| Net Debt / EBITDA Ratio | 5.20 | 7.29 | 5.05 | 4.70 | 3.18 | 3.63 |
| Net Debt / FCF Ratio | 13.88 | 48.02 | 15.63 | -20.28 | 12.07 | 8.38 |
| Asset Turnover | 0.37 | 0.37 | 0.39 | 0.37 | 0.34 | 0.34 |
| Inventory Turnover | 49.81 | 42.69 | 37.76 | 32.11 | 47.40 | 84.46 |
| Quick Ratio | 0.77 | 0.64 | 0.99 | 1.09 | 0.57 | 0.28 |
| Current Ratio | 0.96 | 1.80 | 1.21 | 1.35 | 1.11 | 1.61 |
| Return on Equity (ROE) | -12.49% | -190.86% | -13.94% | 17.68% | ||
| Return on Assets (ROA) | -0.87% | -0.56% | 0.84% | 1.68% | 3.97% | 4.56% |
| Return on Invested Capital (ROIC) | -1.68% | -1.28% | 2.45% | 4.24% | 9.00% | 7.47% |
| Return on Capital Employed (ROCE) | -1.70% | -1.00% | 1.50% | 3.50% | 8.10% | 8.40% |
| Earnings Yield | -21.11% | -21.82% | -1.02% | -557.77% | -28.66% | 15.82% |
| FCF Yield | 16.63% | 4.66% | 20.45% | -50.91% | 31.83% | 28.02% |
| Dividend Yield | 13.91% | 7.96% | ||||
| Payout Ratio | 53.47% | |||||
| Buyback Yield / Dilution | -0.78% | -0.69% | -0.47% | 2.43% | 5.56% | 1.15% |
| Total Shareholder Return | -0.78% | -0.69% | -0.47% | 2.43% | 19.47% | 9.11% |