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MARKETS / NYSE / LUMN
NYSE · TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE) · LARGE CAP

Lumen Technologies, Inc. LUMN

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$11.3B
▼ 6.6% YoY
$-1.7B
$371.0M
▼ 66.3% YoY
In brief

What this company does

Lumen Technologies operates a communications network. As of December 31, 2025, it had two segments: its Business segment, serving domestic and global customers, and its Mass Markets segment, serving domestic customers. It conducts its operations under the Lumen brand, used for the enterprise and wholesale markets and including its PCF network architecture and Lumen Digital products, and under the CenturyLink brand, its long-standing brand for mass-marketed copper-based communications services. As of December 31, 2025, it had approximately 163,000 fiber on-net buildings and over 340,000 route miles of fiber optic cable globally. As of December 31, 2025, it employed approximately 24,000 employees globally, including approximately 3,400 outside the U.S. Lumen Technologies has grown principally through acquisitions since being incorporated in Louisiana in 1968, including the acquisitions of Embarq Corporation in 2009, Qwest Communications International Inc. in 2011, and Level 3 Communications, Inc. in 2017.

Written from the business description in Lumen Technologies, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 20 February 2026. Every sentence was checked against that document before publication.

Growth
USD 11.3B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 11.3 · Net income -1.7
8B16B-4B-8B2008201120142017202020232025
Compound annual growth
−11.1%
−9.6%
−4.5%
+3.2%
−89.9%
−75.4%
−53.3%
−36.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −9.6% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−15 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -7.2% · Net -15.3%
10%20%-20%-40%-60%2008201120142017202020232025
ROE
FY2024 · ROE -12.5%
-50%-100%-150%2008201120142017202020232025

Cash & shareholders
USD 1.0M
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 0.4
2.0B-0.4B-0.8B2008201120142017202020232025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.0 · Net buybacks —
1B2BDividendsNet buybacks2008201120142017202020232025

USD 1.0M in dividends went back to shareholders in a year without profit.

Total assetsUSD 34.3B
EquityUSD -1.1B
CashUSD 1.0B
Gross debtUSD 17.4B
Net debtUSD 16.4B
Current ratio1.80×

Equity was negative — liabilities exceeded assets. No ratio is shown.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B11.312.113.516.117.818.819.521.017.717.517.918.018.118.415.47.05.02.6
Operating income $B−0.80.5−9.60.14.31.0−2.70.62.02.32.62.41.52.72.02.11.20.7
EBITDA $B1.93.4−6.63.38.35.72.15.75.96.26.86.86.07.56.13.52.21.2
Income tax $B−1.0−0.20.10.60.70.50.50.2−0.80.40.40.30.50.50.40.60.30.2
Net income $B−1.7−0.1−10.3−1.52.0−1.2−5.3−1.71.40.60.90.8−0.20.80.60.90.60.4
Free cash flow $B0.41.1−0.91.73.62.83.13.90.81.62.32.12.53.11.81.20.80.6
EPS, diluted $−1.75−0.06−10.48−1.541.91−1.14−4.92−1.632.211.161.581.36−0.401.251.073.133.233.52
Dividend / sh $·0.000.000.751.001.001.002.162.162.16·····2.902.802.17
Payout %−0−5−0−5053−90−21−133105186136159−544233272938760
ROE %·−12.5−190.9−14.017.7−10.0−31.6−8.07.54.66.04.8−1.33.93.89.96.8·
Shares out B1.031.011.011.001.021.101.091.081.070.550.540.570.580.630.620.300.300.10

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

Provenance
Company facts, as filed
How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityTelephone Communications (No Radiotelephone)
Listed onNYSE
Incorporated inLouisiana
Fiscal year endsDecember 31
Data on record since2008

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