Lumen Technologies, Inc.LUMN
NYSE•Communication Services•Telecom Services
Lumen Technologies, Inc., a networking company, provides integrated products and services to business and mass customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber and conduit, edge cloud, internet protocol (IP), voice over IP, managed security, software-defined wide area networks, unified communications and collaboration, and optical services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice and private line; other legacy services, such as Synchronous Optical Network (SONET) based ethernet, legacy data hosting services, and conferencing services; and managed and professional service solutions, as well as sells communications equipment. The company also provides high speed and lower speed broadband service to residential and small business customers; local and long-distance voice services, professional services, and other ancillary services; and federal broadband and state support programs. It serves its products and services under the Lumen, CenturyLink, Black Lotus Labs, and Quantum Fiber brand name. The company was formerly known as CenturyLink, Inc. and changed its name to Lumen Technologies, Inc. in September 2020. Lumen Technologies, Inc. was incorporated in 1968 and is headquartered in Monroe, Louisiana.
Lumen Technologies, Inc. (LUMN) reported trailing twelve months revenue of $12.12B as of March 2026, a 6.8% decline year-over-year. Quarterly revenue reached $2.90B, reflecting a contraction in sales.
Lumen Technologies, Inc. reported a TTM net loss of $1.74B, with quarterly EBITDA of $1.27B. The operating margin expanded from 3.4% to 20.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (20.8%) and net margin (-6.9%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from -6.3% a year ago, reflecting increased costs or interest expense.
LUMN trades at a P/S of 0.7x.
The company generated $380.00M in free cash flow over the trailing twelve months, a 25.0% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $30.62B in total assets with $12.93B in long-term debt against $-1.32B in stockholders equity. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 0.9%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 156.6% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 60.0 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
Revenue declined in 7 of the last 7 quarters — persistent contraction signals a fundamental problem.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation