Lumen Technologies, Inc.

LUMNNYSECommunication Services● Active

$9.01

+$0.10(+1.12%)

Market Cap$9.3B

P/E Ratio—

52W High$11.95

52W Low$3.37

Avg Volume13.5M

Open$9.07

Beta1.72

Free Cash Flow Financials Revenue

Lumen Technologies, Inc. (LUMN) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

LUMN · free cash flow · updated Jun 10, 2026

Core FCF metrics

LUMN · FCF · TTM · margin & CAGR

Free cash flow was $371.0M for FY2025 (fiscal year ending 2025-12-31), down 66.3% year-over-year The FCF margin was 3.0%. Five-year CAGR stands at -33.2%.

FY2025 Free Cash Flow$371.0M▼ -66.3% YoY

Trailing 12M (TTM)$447.0Mtrailing 4 quarters sum

FCF Margin3.0%$371.0M ÷ revenue

3-Year CAGR-40.0%FY2022 → FY2025

5-Year CAGR-33.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 10, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

LUMN · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$4.74B(4.37B)$371.0M▼ 66.3%3.0%

FY2024$4.33B(3.23B)$1.10B▲ +217.2%8.4%

FY2023$2.16B(3.10B)−$940.0M▼ 154.7%-6.5%

FY2022$4.74B(3.02B)$1.72B▼ 52.3%9.8%

FY2021$6.50B(2.90B)$3.60B▲ +28.8%18.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

LUMN · P/FCF · FCF yield · FCF per share

Lumen Technologies, Inc. (LUMN) trades at a FCF yield of 4.87% and a price-to-free-cash-flow ratio of 20.0x. FCF per share stands at $0.45, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.87%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.45

TTM FCF ÷ Shares Outstanding

Price / FCF

x20.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x46.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

LUMN · cash flow statement · operating / investing / financing

For FY2025, Lumen Technologies, Inc. generated $4.74B in operating cash flow and spent 4.37B in capital expenditures, yielding $371.0M in free cash flow.

Operating Activities

+$4.74B

Cash from core business operations

2025-12-31

Investing Activities

−$4.30B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$1.32B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($4.74B) − |CapEx| (4.37B) = FCF ($371.0M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Communication Services)

LUMN vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Lumen Technologies, Inc.YOU

LUMN

$371.0M-66.3%3.0%

About Free Cash Flow & Methodology

Lumen Technologies, Inc. (LUMN) reported free cash flow of $371.0M for FY2025 (fiscal year ending 2025-12-31), down 66.3% year-over-year. The FCF margin was 3.0%.

Based on available data, Lumen Technologies, Inc. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $3.86B in FY2018. The 5-year CAGR stands at -33.2%.

Lumen Technologies, Inc.'s FCF yield is 4.87% and price-to-FCF ratio is 20.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

LUMN free cash flow · 8 questions

Lumen Technologies, Inc. free cash flow was $371.0M for FY2025, down 66.3% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $447.0M.

LUMN free cash flowLUMN FCFLUMN FCF 2025LUMN free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Lumen Technologies, Inc. · Lumen Technologies, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 10, 2026