LUMN
Lumen Technologies, Inc.
Next earnings Jul 29, 2026 · consensus $-0.12 EPS, $2.79B rev
$6.43
▼ -19.22%$6.43▲ +42.57%
over 1Y
L $3.70H $11.83
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-19.2%
1W-22.7%
1M-39.1%
3M-8.0%
YTD-16.4%
1Y+42.6%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 18 analysts
Hold
Highly leveraged telecom with negative equity and shrinking revenue, betting on an AI-fiber (PCF) pivot — a high-risk turnaround, not investable on fundamentals.
Revenue $11.3B · FY2025
Lumen is a deeply challenged legacy telecom attempting to reinvent itself as the connectivity backbone of the AI economy. The financials are weak across the board: FY2025 revenue fell 6.6% to $11.3B (continuing a multi-year slide from $17.8B in 2021), the operating line swung to -$812M, net loss was -$1.74B, and stockholders' equity is negative at -$1.12B with a -$19.7B accumulated deficit. The reported 155.7% ROE is a meaningless artifact of negative equity, not a sign of strength.
The entire bull case is the strategic pivot to Private Connectivity Fabric (PCF) — large fiber deals selling high-capacity, low-latency connectivity to hyperscalers and enterprises for AI workloads. Management is investing heavily, with capex up 35.2% to $4.37B, and on February 2, 2026 it completed the sale of its Mass Markets Fiber-to-the-Home business to AT&T for $5.75B pre-tax, materially aiding liquidity and debt reduction. Operating cash flow of $4.74B is solid, but it is almost entirely consumed by the PCF buildout, leaving thin free cash flow.
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:51 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $17.8B | $16.1B | $13.5B | $12.1B | $11.3B |
| Gross profit | — | — | — | — | — |
| Operating income | $4.29B | $95.0M | -$9.58B | $460M | -$812M |
| Net income | $2.03B | -$1.55B | -$10.3B | -$55.0M | -$1.74B |
| Diluted EPS | $1.91 | -$1.54 | -$10.48 | -$0.06 | -$1.75 |
| Net margin | 11.4% | -9.6% | -76.2% | -0.5% | -15.3% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$5.62B
EV / EBITDA2.9
EV / Sales0.5
EV / FCF15.2
P / FCF17.9
PEG (trailing)—
Earnings yield-26.2%
FCF yield5.6%
Quality & risk
ROIC (est.)—
Free cash flow$371M
Total debt—
Net cash$1.00B
Piotroski F-Score3/7
Capital returns
Buyback yield0.0%
Dividend yield (est.)0.0%
Shareholder yield0.0%
Shares Δ YoY+1.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗CERTFiling2026-06-12open ↗8-A12BFiling2026-06-11open ↗8-KPeriod ending 2026-06-112026-06-11open ↗8-KPeriod ending 2026-06-102026-06-10open ↗S-8Filing2026-05-27open ↗8-KPeriod ending 2026-05-202026-05-27open ↗4Period ending 2026-05-212026-05-26open ↗3Period ending 2026-05-202026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗4Period ending 2026-05-212026-05-26open ↗
Frequently asked
- Is Lumen Technologies, Inc. (LUMN) a buy?
- LUMN currently carries a Avoid rating with 3/5 conviction, derived from its latest SEC filings. Highly leveraged telecom with negative equity and shrinking revenue, betting on an AI-fiber (PCF) pivot — a high-risk turnaround, not investable on fundamentals.
- What is Lumen Technologies, Inc.'s quality score?
- LUMN scores 36.04266442915686/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000018926, latest 10-Q filed 2026-05-05) · EODHD · Proprietary analysis · as of 6/21/2026, 8:51:46 PM.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.