Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.5B | $17.7B | $21.0B | $19.5B | $18.8B | $17.8B | $16.1B | $13.5B | $12.1B | $11.3B |
| Revenue growth | — | 1.1% | 19.2% | -7.3% | -3.6% | -5.3% | -9.5% | -16.1% | -10.3% | -6.6% |
| Operating income | $2.33B | $2.01B | $570M | -$2.73B | $962M | $4.29B | $95.0M | -$9.58B | $460M | -$812M |
| Operating margin | 13.4% | 11.4% | 2.7% | -14.0% | 5.1% | 24.1% | 0.6% | -70.9% | 3.8% | -7.2% |
| Net income | $626M | $1.39B | -$1.73B | -$5.27B | -$1.23B | $2.03B | -$1.55B | -$10.3B | -$55.0M | -$1.74B |
| Net margin | 3.6% | 7.9% | -8.2% | -27.0% | -6.6% | 11.4% | -9.6% | -76.2% | -0.5% | -15.3% |
| EPS (diluted) | $1.16 | $2.21 | -$1.63 | -$4.92 | -$1.14 | $1.91 | -$1.54 | -$10.48 | -$0.06 | -$1.75 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.61B | $3.88B | $7.03B | $6.68B | $6.52B | $6.50B | $4.74B | $2.16B | $4.33B | $4.74B |
| Capital expenditures | $2.98B | $3.11B | $3.17B | $3.63B | $3.73B | $2.90B | $3.02B | $3.10B | $3.23B | $4.37B |
| Free cash flow | $1.63B | $772M | $3.86B | $3.05B | $2.79B | $3.60B | $1.72B | -$940M | $1.10B | $371M |
| Share buybacks | $16.0M | $17.0M | — | $0.00 | $0.00 | $1.00B | $200M | $0.00 | $0.00 | — |
| Dividends paid | $1.17B | $1.45B | $2.31B | $1.10B | $1.11B | $1.09B | $780M | $11.0M | $3.00M | $1.00M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $222M | $551M | $488M | $1.69B | $406M | $354M | $1.25B | $2.23B | $1.89B | $1.00B |
| Total assets | $47.0B | $75.6B | $70.3B | $64.7B | $59.4B | $58.0B | $45.6B | $34.0B | $33.5B | $34.3B |
| Shareholders' equity | $13.4B | $23.5B | $19.8B | $13.5B | $11.2B | $11.8B | $10.4B | $417M | $464M | -$1.12B |
| Retained earnings | -$1.00M | $1.10B | -$1.64B | -$6.81B | -$8.03B | -$6.00B | -$7.61B | -$17.9B | -$18.0B | -$19.7B |
| Shares (wtd avg diluted) | 541M | 629M | 1.07B | 1.07B | 1.08B | 1.07B | 1.01B | 983M | 988M | 995M |
Every figure is extracted from Lumen Technologies, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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