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Lumen Valuation Multiples

Discover revenue and EBITDA valuation multiples for Lumen and similar public comparables like KPN, Jordan Telecom, and e&.

Lumen Overview

About Lumen

With 450,000 route miles of fiber, Lumen Technologies is one of the United States’ largest telecommunications carriers serving global enterprises. Its merger with Level 3 in 2017 and divestiture of much of its incumbent local exchange carrier, or ILEC, business in 2022 has shifted the company’s operations away from its legacy consumer business and toward enterprises (now about 75% of revenue). Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.


Founded

1968

HQ

United States of America
Employees

25K+

Website

lumen.com

Financials

LTM Revenue $12.9B

LTM EBITDA $3.4B

EV

$21.2B

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Lumen Financials

Lumen has a last 12-month revenue of $12.9B and a last 12-month EBITDA of $3.4B.

In the most recent fiscal year, Lumen achieved revenue of $13.1B and an EBITDA of $4.1B.

Lumen expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Lumen P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $14.6B $13.1B XXX XXX XXX
Gross Profit $9.6B $7.4B XXX XXX XXX
Gross Margin 66% 57% XXX XXX XXX
EBITDA -$6.1B $4.1B XXX XXX XXX
EBITDA Margin -42% 31% XXX XXX XXX
Net Profit -$1.5B -$10.3B XXX XXX XXX
Net Margin -11% -79% XXX XXX XXX
Net Debt $19.3B $17.8B XXX XXX XXX

Financial data powered by Morningstar, Inc.

Lumen Stock Performance

As of March 17, 2025, Lumen's stock price is $5.

Lumen has current market cap of $4.9B, and EV of $21.2B.

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Lumen Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$21.2B $4.9B XXX XXX XXX XXX $-0.38

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Lumen Valuation Multiples

As of March 17, 2025, Lumen has market cap of $4.9B and EV of $21.2B.

Lumen's trades at 1.6x LTM EV/Revenue multiple, and 6.2x LTM EBITDA.

Analysts estimate Lumen's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Lumen Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $21.2B XXX XXX XXX
EV/Revenue 1.6x XXX XXX XXX
EV/EBITDA 5.2x XXX XXX XXX
P/E -89.8x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF 19.2x XXX XXX XXX

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Lumen Valuation Multiples

Lumen's NTM/LTM revenue growth is -5%

Lumen's revenue per employee for the last fiscal year averaged $0.5M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, Lumen's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Lumen's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Lumen Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -10% XXX XXX XXX XXX
EBITDA Margin 31% XXX XXX XXX XXX
EBITDA Growth -167% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 26% XXX XXX XXX XXX
Revenue per Employee $0.5M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 24% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 46% XXX XXX XXX XXX

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Lumen Public Comps

See public comps and valuation multiples for Telecom Service Providers and Data Centers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
e& XXX XXX XXX XXX XXX XXX
Space42 XXX XXX XXX XXX XXX XXX
Jordan Telecom XXX XXX XXX XXX XXX XXX
KPN XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Lumen M&A and Investment Activity

Lumen acquired  XXX companies to date.

Last acquisition by Lumen was  XXXXXXXX, XXXXX XXXXX XXXXXX . Lumen acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Lumen

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Lumen

When was Lumen founded? Lumen was founded in 1968.
Where is Lumen headquartered? Lumen is headquartered in United States of America.
How many employees does Lumen have? As of today, Lumen has 25K+ employees.
Who is the CEO of Lumen? Lumen's CEO is Ms. Kate E. Johnson.
Is Lumen publicy listed? Yes, Lumen is a public company listed on NYS.
What is the stock symbol of Lumen? Lumen trades under LUMN ticker.
When did Lumen go public? Lumen went public in 1978.
Who are competitors of Lumen? Similar companies to Lumen include e.g. , e&, Space42, Jordan Telecom.
What is the current market cap of Lumen? Lumen's current market cap is $4.9B
What is the current revenue of Lumen? Lumen's last 12-month revenue is $12.9B.
What is the current EBITDA of Lumen? Lumen's last 12-month EBITDA is $3.4B.
What is the current EV/Revenue multiple of Lumen? Current revenue multiple of Lumen is 1.6x.
What is the current EV/EBITDA multiple of Lumen? Current EBITDA multiple of Lumen is 6.2x.
What is the current revenue growth of Lumen? Lumen revenue growth between 2023 and 2024 was -10%.
Is Lumen profitable? Yes, Lumen is EBITDA-positive (as of the last 12 months).

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