Lumen Technologies, Inc. (LUMN) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-632.6%

-$25.72

vs $4.83 price

Levered DCF

$43.11

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-0.49

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-4.44×	-95.33×	-0.17×	-3.39×	6.54×	-8.55×	-2.68×	-9.29×
P/B	-6.92×	11.3×	4.31×	0.51×	1.12×	0.94×	1.05×	0.81×
P/S	0.62×	0.4×	0.12×	0.3×	0.68×	0.51×	0.66×	0.69×
EV / EBITDA	18.55×	5.48×	-3.42×	7.26×	5.41×	7.82×	23.47×	9.01×
Gross margin	46.5%	48.9%	50.9%	55.0%	56.9%	56.9%	57.4%	53.7%
Operating margin	-1.5%	3.5%	-65.8%	0.5%	21.8%	4.6%	-12.7%	2.4%
Net margin	-14.0%	-0.4%	-70.7%	-8.9%	10.3%	-5.9%	-24.6%	-7.4%
Current ratio	1.8×	1.21×	1.35×	1.07×	1.61×	0.44×	0.62×	0.7×
Debt / equity	-15.85×	41.2×	51.07×	2.12×	2.63×	3.01×	2.71×	1.82×
Interest coverage	-0.14×	0.34×	-8.28×	0.07×	2.82×	0.58×	-1.35×	0.26×
Dividend yield	0.0%	0.1%	0.6%	14.9%	8.2%	10.5%	7.8%	14.4%
Payout ratio	-0.1%	-5.5%	-0.1%	-50.4%	53.5%	-90.0%	-20.9%	-133.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	155.7%	-11.9%	-2469.5%	-14.9%	17.2%	-11.0%	-39.1%	-8.7%
Return on invested capital	-0.4%	0.4%	-31.0%	0.2%	6.1%	1.7%	-4.5%	0.9%
Return on assets	-5.1%	-0.2%	-30.3%	-3.4%	3.5%	-2.1%	-8.1%	-2.5%
Free cash flow yield	4.8%	21.0%	-52.3%	32.8%	27.1%	26.6%	21.6%	23.9%
Earnings yield	-22.5%	-1.0%	-572.4%	-29.5%	15.3%	-11.7%	-37.2%	-10.8%
Enterprise value	$24.4B	$22.5B	$20.9B	$26B	$44.1B	$43.7B	$48.9B	$51.7B
Net debt / EBITDA	12.68×	4.2×	-3.13×	5.8×	3.78×	5.93×	16.68×	6.2×
Cash conversion cycle (days)	-21	15	-7	-6	3	7	-6	-7