Lumen Technologies, Inc. (LUMN) Stock

Lumen Technologies, Inc. (LUMN) is a Communication Services stock trading at $6.00 (as of 2026-08-20), with a market capitalization of $6.19B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Lumen Technologies, Inc. provides communication and technology services to business and residential customers through brands including Lumen, Quantum Fiber, and CenturyLink. It operates in Business and Mass Markets, offering offerings spanning compute and applications, managed security, and networking/IP services, as well as fiber infrastructure and data-center related services.

Understand Lumen Technologies, Inc.: how it makes money

Lumen Technologies provides integrated communications and technology services, including compute and application services (cloud, IT, unified communications, colocation and data center, content delivery, managed security) and IP and data services, to business and residential customers, and it makes money primarily through its Business and Mass Markets segments.

Lumen has two main revenue engines, Business services and Mass Markets fiber-related offerings, so performance depends on both Business revenue and the pace of Quantum Fiber expansion measured by customer net additions.

Revenue by segment (latest quarter)
Business	$2.4B
Mass Markets	$0.5B

Business quality (Strong): Clear two-segment reporting (Business and Mass Markets) paired with ongoing fiber expansion metrics, which helps investors connect revenue mix to operating drivers.

Bull case

Business services diversification: The company provides a broad set of compute and application services (including cloud, unified communication and collaboration, colocation and data center services, content delivery, and managed security) alongside IP and data services in its Business segment.
Visible Mass Markets expansion track: Mass Markets growth is tied to measurable fiber progress, including Quantum Fiber customer net additions and fiber enabled homes added.

Bear case

Revenue mix concentration: Business revenue includes multiple subcomponents (such as legacy revenue and wholesale revenue in North America channels), so declines in one or more areas could pressure total Business results.
Execution risk on fiber growth: Mass Markets outcomes are linked to Quantum Fiber expansion metrics, so slower customer net additions or enabled-home growth would likely limit how much recurring fiber revenue can build.

Valuation — source: SEC EDGAR (first-party)
Price	$6.00
Market Cap	$6.19B
EV / EBITDA	1.9
Price / Sales	0.51
FCF Yield	7.2%
DCF Value (model)	$2.32
DCF Upside vs Price	-61.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$12.40B
Net Margin	-14.0%
Revenue Growth (YoY)	-8.9%
EPS Growth (YoY)	0.0%
FCF Growth (YoY)	25.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	-0.29 (distress)

Valuation vs Sector & Industry
Sector P/E (Communication Services)	24.4
Industry P/E (Communication)	17.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($955.39M)
Institutional Holders Tracked	10
Congressional Trades (recent)	7

Company
Sector	Communication Services
Industry	Communication
CEO	Kathleen E. Johnson
Employees	24,000
Country	US
IPO Date	1980-03-17

Related Companies (Business model: Telecom Carrier; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.