Also trades as: 0HVP.L (LSE) · $vol 0M

$4.69

+0.26 (+5.87%)

Weekly Expected Move ±8.6%

$4 $4 $5 $5 $5

NASDAQ · Communication Services · Telecommunications Services · Tech Score Sell · Power 33 · $4.6B mcap · 948M float · 1.45% daily turnover · Short 58% of daily vol

Credit Risk of going bust: higher than 91% of companies Debt: 74.7% of company value Bonds: $132.1M held by 127 funds, 324 bp over Treasuries → details ▾

Of US companies ranked in the riskiest tenth, about 1 in 20 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.97 (down 78%), Lumen Technologies, Inc. would be worth roughly what it owes.
Total debt $13.49B against a stock market value of $4.57B.
Distance to default 1.46 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $6.63B (short-term plus half of long-term), stock volatility 75.7%; Altman Z'' -2.31. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NO EDGE

35.8 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: -3.1%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. LUMN has No discernible competitive edge (35.8/100). The business operates without significant structural advantages. The primary source of advantage is Intangible Assets. Negative ROIC of -3.1% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

Avg Target

High

Based on 4 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 4Hold: 17Sell: 7Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$7.31

Analysts4

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-06	UBS	—	$6	$8	+2	-13.4%	$9.23
2026-02-05	UBS	—	Initiated	$6	—	-9.5%	$6.63
2026-02-04	Goldman Sachs	—	$4	$7	+3	-14.3%	$8.46
2025-11-25	RBC Capital	—	$10	$8	-2	+1.2%	$7.91
2025-09-02	Goldman Sachs	—	$4	$4	+0	-14.4%	$4.79
2024-08-16	Wells Fargo	Eric Luebchow	Initiated	$4	—	-29.9%	$5.71
2024-08-07	Williams Trading	Gregory Williams	$12	$7	-5	+5.6%	$6.63
2024-08-06	Goldman Sachs	James Schneider	$1	$4	+3	-39.7%	$6.63
2024-08-06	Citigroup	Michael Rollins	$4	$3	-0	+21.6%	$2.59
2024-07-01	Goldman Sachs	James Schneider	$4	$1	-3	-9.1%	$1.10
2023-02-08	Goldman Sachs	—	$6	$4	-2	+3.0%	$3.88
2023-02-08	Citigroup	—	$6	$4	-3	-29.9%	$4.99
2023-02-01	Citigroup	—	Initiated	$6	—	+15.4%	$5.42
2022-12-05	Goldman Sachs	Brett Feldman	Initiated	$6	—	+15.4%	$5.20
2022-05-05	Williams Trading	Gregory Williams	Initiated	$12	—	+12.2%	$10.70
2022-02-15	RBC Capital	Jonathan Atkin	Initiated	$10	—	+1.4%	$9.86

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

B-

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. LUMN receives an overall rating of B-. Strongest factors: DCF (5/5), ROE (5/5). Areas of concern: ROA (1/5), D/E (1/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-07-25	C+	B-
2026-07-01	B-	C+
2026-05-28	C	B-
2026-05-18	C-	C
2026-05-05	C	C-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 23 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. LUMN scores highest in Momentum (53/100) and lowest in Safety (0/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

-0.44

Distress Zone

Piotroski F-Score

5/9

✗ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✗

Beneish M-Score

-3.67

Unlikely Manipulator

Ohlson O-Score

-6.44

Bankruptcy prob: 0.2%

Low Risk

Credit Rating

CCC

Score: 13.7/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -5.24x

Accruals: -20.0%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. LUMN scores -0.44, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. LUMN scores 5/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. LUMN's score of -3.67 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. LUMN's implied 0.2% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. LUMN receives an estimated rating of CCC (score: 13.7/100), with a deteriorating trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-4.62x

PEG

0.24x

P/S

0.41x

P/B

-3.19x

P/FCF

9.21x

P/OCF

1.44x

EV/EBITDA

8.64x

EV/Revenue

1.63x

EV/EBIT

-43.64x

EV/FCF

23.10x

Earnings Yield

-13.28%

FCF Yield

10.85%

Shareholder Yield

0.01%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. LUMN currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.731

NI / EBT

Interest Burden

3.160

EBT / EBIT

EBIT Margin

-0.037

EBIT / Rev

Asset Turnover

0.371

Rev / Assets

Equity Multiplier

-30.609

Assets / Equity

ROE

98.3%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. LUMN's ROE of 98.3% is driven by Asset Turnover (0.371), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$4.69

Median 1Y

$3.29

5th Pctile

$0.96

95th Pctile

$11.43

Ann. Volatility

73.0%

25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Kate Johnson President and CEO	$1,354,493	$18,590,663	$24,936,641
Chris D. Stansbury EVP and CFO	$850,000	$10,198,792	$13,082,720
David Ward EVP, er EVP, Chief Technology & Product Officer	$770,959	$4,098,262	$6,247,310
Mark Hacker EVP, Chief Legal Officer & Public Sector Former Executive Officers	$486,164	$2,641,607	$4,338,060
Ashley Haynes-Gaspar EVP, er EVP, Chief Revenue Officer	$645,962	$2,791,565	$4,250,949

CEO Pay Ratio

187:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $24,936,641

Avg Employee Cost (SGA/emp): $133,292

Employees: 24,000

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

24,000

-4.0% YoY

Revenue / Employee

$516,750

Rev: $12,402,000,000

Profit / Employee

$-72,458

NI: $-1,739,000,000

SGA / Employee

$133,292

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-6.1%	17.7%	18.3%	16.7%	17.1%	-13.9%	-14.1%	-1.5%	-1.5%	-1.9%	-1.9%	-1.5%	-1.7%	-12.5%	-78.9%	18.3%	4.0%	5.3%	-29.1%	98.3%	98.32%
ROA	-1.3%	3.5%	3.7%	3.4%	3.6%	-3.0%	-3.2%	-22.8%	-25.1%	-25.9%	-27.3%	-6.0%	-6.1%	-0.2%	-0.9%	-3.6%	-4.8%	-5.1%	-5.4%	-3.2%	-3.21%
ROIC	2.6%	7.6%	8.1%	8.0%	7.4%	-1.3%	-3.1%	-37.4%	-39.7%	-31.1%	-35.4%	2.3%	2.1%	2.0%	2.5%	-1.1%	-2.5%	-4.1%	-3.1%	-3.1%	-3.10%
ROCE	8.2%	7.8%	7.8%	7.4%	8.8%	9.2%	8.8%	-17.4%	-20.9%	-29.8%	-32.9%	-3.1%	-3.2%	3.8%	2.8%	-1.0%	-3.2%	-4.8%	-4.3%	-1.7%	-1.67%
Gross Margin	35.8%	57.0%	57.5%	36.6%	35.3%	51.9%	51.4%	52.5%	49.2%	29.3%	49.8%	26.7%	47.5%	48.8%	47.0%	47.5%	44.9%	46.5%	50.5%	49.6%	49.55%
Operating Margin	23.1%	24.0%	23.2%	19.8%	18.0%	-86.4%	10.4%	-2.3%	6.1%	3.8%	1.4%	4.0%	3.9%	4.6%	3.4%	-19.5%	-3.8%	-6.6%	0.2%	-3.1%	-3.14%
Net Margin	11.1%	10.5%	12.8%	7.5%	13.2%	-80.8%	13.7%	-2.4%	-2.1%	-56.7%	1.7%	-1.5%	-4.6%	2.6%	-6.3%	-29.6%	-20.1%	-0.1%	-6.9%	-7.2%	-7.17%
EBITDA Margin	43.2%	35.8%	43.4%	37.0%	49.9%	34.8%	45.3%	-2.1%	26.5%	-31.3%	34.7%	32.9%	27.5%	29.9%	25.6%	-4.0%	5.8%	14.6%	36.8%	19.5%	19.47%
FCF Margin	18.9%	18.3%	18.6%	17.0%	13.3%	9.8%	5.3%	-4.2%	-6.0%	-6.5%	-3.6%	1.1%	9.7%	8.4%	7.8%	7.3%	9.7%	3.0%	3.7%	7.1%	7.07%
OCF Margin	32.9%	33.0%	32.8%	32.1%	29.7%	27.1%	23.9%	15.8%	14.9%	14.8%	18.9%	23.9%	33.3%	33.1%	33.3%	34.2%	38.3%	38.2%	41.0%	45.4%	45.36%
ROA 3Y Avg	snapshot only																				-4.39%
ROIC 3Y Avg	snapshot only																				-4.82%
ROIC Economic	snapshot only																				-2.67%
Cash ROA	snapshot only																				17.44%
Cash ROIC	snapshot only																				52.98%
CROIC	snapshot only																				8.26%
NOPAT Margin	snapshot only																				-2.66%
Pretax Margin	snapshot only																				-11.83%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				28.25%
SBC / Revenue	snapshot only																				0.48%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	-15.91	5.85	5.07	5.43	3.65	-3.36	-1.59	-0.21	-0.12	-0.17	-0.14	-0.53	-3.29	-95.36	-12.41	-3.68	-3.69	-4.45	-3.99	-7.53	-4.624
P/S Ratio	0.61	0.60	0.57	0.57	0.40	0.30	0.16	0.14	0.09	0.12	0.11	0.08	0.53	0.40	0.30	0.34	0.48	0.62	0.57	0.65	0.412
P/B Ratio	1.09	1.01	0.89	0.89	0.59	0.50	0.24	0.97	0.63	4.32	3.05	2.33	20.53	11.30	13.45	-7.30	-5.20	-6.93	0.60	-5.18	-3.189
P/FCF	3.23	3.31	3.05	3.35	3.00	3.02	2.97	-3.39	-1.56	-1.92	-3.04	7.34	5.43	4.76	3.82	4.63	4.97	20.87	15.53	9.21	9.213
P/OCF	1.85	1.83	1.72	1.77	1.35	1.10	0.66	0.90	0.63	0.83	0.58	0.33	1.59	1.21	0.90	0.99	1.25	1.63	1.40	1.44	1.437
EV/EBITDA	4.79	5.18	4.91	5.15	4.28	3.58	3.14	-9.08	-5.80	-3.42	-2.85	8.88	11.59	5.48	5.28	8.14	11.58	18.56	11.84	8.64	8.641
EV/Revenue	2.09	2.17	2.04	2.05	1.77	1.48	1.31	1.42	1.43	1.43	1.34	1.35	1.74	1.71	1.53	1.63	1.71	1.97	1.53	1.63	1.634
EV/EBIT	10.17	10.77	9.65	10.13	8.04	6.93	6.06	-3.95	-3.18	-2.30	-1.96	-20.14	-24.47	19.68	23.40	-71.73	-22.42	-17.07	-16.40	-43.64	-43.635
EV/FCF	11.06	11.86	11.01	12.07	13.27	15.10	24.75	-33.87	-23.77	-22.19	-37.38	124.82	17.96	20.39	19.58	22.33	17.65	65.89	41.54	23.10	23.095
Earnings Yield	-6.3%	17.1%	19.7%	18.4%	27.4%	-29.8%	-62.8%	-4.8%	-8.1%	-5.7%	-7.0%	-1.9%	-30.4%	-1.0%	-8.1%	-27.2%	-27.1%	-22.5%	-25.0%	-13.3%	-13.28%
FCF Yield	31.0%	30.3%	32.8%	29.8%	33.4%	33.1%	33.7%	-29.5%	-64.1%	-52.2%	-32.9%	13.6%	18.4%	21.0%	26.2%	21.6%	20.1%	4.8%	6.4%	10.9%	10.85%
PEG Ratio	snapshot only																				0.236
EV/OCF	snapshot only																				3.602
EV/Gross Profit	snapshot only																				3.418
Shareholder Yield	snapshot only																				0.01%

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	1.38	1.61	2.04	2.00	1.05	1.07	1.11	1.18	1.13	1.35	0.98	1.01	1.20	1.21	1.21	2.13	2.21	1.80	0.99	0.96	0.964
Quick Ratio	1.37	1.60	2.02	1.97	1.03	1.02	1.07	1.12	1.07	1.29	0.93	0.96	1.16	1.17	1.17	2.10	2.17	1.80	0.96	0.96	0.964
Debt/Equity	2.70	2.63	2.36	2.33	2.04	2.12	1.84	8.92	9.10	51.07	37.62	40.52	55.03	41.20	62.03	-30.54	-15.30	-15.85	1.14	-9.07	-9.069
Net Debt/Equity	2.64	2.60	2.33	2.30	2.02	2.00	1.73	8.74	8.96	45.71	34.48	37.31	47.31	37.13	55.46	—	—	—	1.00	—	—
Debt/Assets	0.52	0.54	0.50	0.49	0.47	0.48	0.44	0.56	0.56	0.63	0.57	0.57	0.55	0.57	0.53	0.55	0.52	0.52	0.43	0.44	0.438
Debt/EBITDA	3.46	3.78	3.60	3.76	3.35	3.04	2.93	-8.34	-5.50	-3.49	-2.85	9.08	9.41	4.67	4.75	7.06	9.61	13.44	8.45	6.03	6.033
Net Debt/EBITDA	3.39	3.73	3.55	3.72	3.31	2.86	2.76	-8.17	-5.42	-3.13	-2.62	8.36	8.09	4.20	4.25	6.45	8.32	12.68	7.41	5.19	5.194
Interest Coverage	2.65	2.61	2.76	2.68	2.86	2.81	2.84	-4.61	-5.84	-7.84	-8.24	-0.73	-0.73	0.83	0.60	-0.21	-0.71	-1.12	-0.97	-0.43	-0.432
Equity Multiplier	5.21	4.90	4.73	4.72	4.36	4.40	4.14	15.84	16.19	81.58	65.82	70.69	99.38	72.19	116.05	-55.42	-29.23	-30.74	2.63	-20.69	-20.687
Cash Ratio	snapshot only																				0.440
Debt Service Coverage	snapshot only																				2.182
Cash to Debt	snapshot only																				0.139
FCF to Debt	snapshot only																				0.062
Defensive Interval	snapshot only																				197.9 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.33	0.34	0.33	0.33	0.33	0.34	0.32	0.33	0.33	0.37	0.36	0.40	0.38	0.39	0.39	0.39	0.37	0.37	0.38	0.37	0.371
Inventory Turnover	110.57	116.83	91.25	76.48	69.77	57.69	53.61	46.21	35.63	35.48	37.16	43.12	41.14	41.95	47.20	43.28	39.98	90.93	49.89	98.05	98.048
Receivables Turnover	10.54	11.19	11.36	11.00	11.81	11.55	11.21	10.42	10.22	10.70	10.25	9.85	10.04	10.57	10.33	10.02	10.15	9.86	8.66	8.90	8.900
Payables Turnover	10.84	15.02	10.84	10.04	10.70	10.63	9.26	7.40	7.15	7.25	6.74	7.74	8.57	7.91	7.73	7.35	6.74	5.88	6.39	6.62	6.621
DSO	35	33	32	33	31	32	33	35	36	34	36	37	36	35	35	36	36	37	42	41	41.0 days
DIO	3	3	4	5	5	6	7	8	10	10	10	8	9	9	8	8	9	4	7	4	3.7 days
DPO	34	24	34	36	34	34	39	49	51	50	54	47	43	46	47	50	54	62	57	55	55.1 days
Cash Conversion Cycle	4	11	2	2	2	4	-0	-6	-5	-6	-9	-2	3	-3	-4	-5	-9	-21	-8	-10	-10.4 days
Fixed Asset Turnover	snapshot only																				0.583
Operating Cycle	snapshot only																				44.7 days
Cash Velocity	snapshot only																				6.307
Capital Intensity	snapshot only																				2.602

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	-5.6%	-4.9%	-5.7%	-6.0%	-7.2%	-11.2%	-14.5%	-18.0%	-19.9%	-16.7%	-14.7%	-12.0%	-10.4%	-10.0%	-7.9%	-6.5%	-4.6%	-5.4%	-6.8%	-7.7%	-7.74%
Net Income	-1.6%	2.7%	3.0%	3.1%	3.7%	-1.8%	-1.8%	-6.4%	-6.6%	-5.7%	-5.6%	80.7%	81.2%	99.5%	97.1%	42.9%	22.6%	-30.6%	-4.6%	13.1%	13.15%
EPS	-1.6%	2.8%	3.2%	3.3%	3.8%	-1.8%	-1.8%	-6.6%	-6.8%	-5.7%	-5.5%	80.8%	81.3%	99.5%	97.1%	43.1%	23.2%	-30.3%	-4.5%	14.3%	14.26%
FCF	32.6%	28.8%	9.5%	-8.5%	-34.4%	-52.3%	-75.6%	-1.2%	-1.4%	-1.5%	-1.6%	1.2%	2.4%	2.2%	3.0%	5.3%	-5.1%	-66.3%	-56.0%	-10.8%	-10.77%
EBITDA	4.5%	-2.5%	-7.2%	-13.3%	-12.0%	-12.2%	-14.1%	-1.3%	-1.5%	-1.8%	-2.0%	1.9%	1.5%	1.7%	1.6%	23.8%	-6.6%	-67.9%	-58.4%	-13.1%	-13.09%
Op. Income	-63.7%	3.5%	3.5%	3.0%	2.0%	-1.1%	-1.3%	-3.5%	-3.8%	-14.4%	-5.7%	1.1%	1.0%	1.1%	1.1%	-1.4%	-2.1%	-2.8%	-2.8%	-84.3%	-84.26%
OCF Growth	snapshot only																				22.39%
Asset Growth	snapshot only																				-6.65%
Debt Growth	snapshot only																				-25.73%
Shares Change	snapshot only																				1.29%
Dividend Growth	snapshot only																				-67.09%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	-4.6%	-5.7%	-5.8%	-5.9%	-6.4%	-7.9%	-9.0%	-10.3%	-11.1%	-11.1%	-11.7%	-12.2%	-12.7%	-12.7%	-12.4%	-12.3%	-11.8%	-10.8%	-9.8%	-8.8%	-8.78%
Revenue 5Y	2.5%	2.4%	2.3%	2.3%	2.2%	-0.2%	-3.1%	-6.0%	-8.4%	-9.1%	-9.4%	-9.7%	-10.1%	-10.2%	-10.0%	-9.9%	-9.7%	-9.7%	-10.0%	-10.2%	-10.19%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	11.6%	15.8%	23.3%	28.1%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	26.6%	31.3%	39.8%	45.2%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	2.7%	12.9%	—	—	—	51.5%	-6.5%	—	—	—	—	-38.0%	-38.7%	-20.8%	-22.3%	-30.2%	-37.5%	-43.4%	-39.0%	—	—
EBITDA 5Y	5.4%	5.7%	5.8%	5.7%	6.6%	4.0%	1.2%	—	—	—	—	—	—	14.5%	-14.9%	-20.9%	-25.8%	-31.1%	-29.0%	-23.9%	-23.86%
Gross Profit 3Y	-13.0%	-14.2%	-10.8%	-10.8%	-11.2%	-13.8%	-16.4%	-15.1%	-10.7%	-14.2%	-11.6%	-12.7%	-14.4%	-10.7%	-14.8%	-11.7%	-11.7%	-10.0%	-7.0%	-8.4%	-8.43%
Gross Profit 5Y	-4.0%	-3.9%	-1.3%	-0.8%	-0.7%	-3.5%	-7.0%	-8.1%	-9.1%	-11.9%	-12.7%	-15.7%	-16.4%	-14.4%	-14.7%	-12.6%	-11.0%	-11.4%	-9.1%	-6.7%	-6.74%
Op. Income 3Y	-23.5%	95.9%	—	—	—	—	—	—	—	—	—	-20.9%	-30.9%	-52.6%	-50.9%	—	—	—	—	—	—
Op. Income 5Y	-13.3%	12.9%	14.1%	16.6%	16.0%	—	—	—	—	—	—	—	—	—	-32.7%	—	—	—	—	—	—
FCF 3Y	5.5%	-2.3%	3.4%	-1.1%	-7.9%	-17.4%	-34.6%	—	—	—	—	-65.3%	-30.0%	-32.6%	-34.3%	-33.8%	-20.8%	-40.0%	-20.1%	—	—
FCF 5Y	15.1%	17.2%	26.9%	50.3%	39.8%	17.4%	-8.4%	—	—	—	—	-46.4%	-16.4%	-18.4%	-20.1%	-20.6%	-15.5%	-33.2%	-32.9%	-25.0%	-25.02%
OCF 3Y	1.9%	-2.6%	-1.0%	-2.9%	-6.7%	-10.8%	-16.5%	-28.9%	-31.0%	-30.8%	-26.6%	-21.0%	-12.3%	-12.6%	-12.0%	-10.5%	-4.0%	0.0%	7.9%	29.7%	29.72%
OCF 5Y	6.9%	7.1%	8.4%	10.3%	7.7%	4.1%	-2.5%	-14.5%	-18.6%	-21.0%	-16.4%	-13.2%	-8.1%	-8.3%	-8.6%	-8.5%	-6.3%	-6.2%	-6.0%	-4.2%	-4.17%
Assets 3Y	-7.4%	-6.2%	-3.6%	-3.7%	-5.4%	-11.0%	-10.8%	-17.4%	-16.9%	-17.0%	-17.4%	-17.6%	-16.5%	-16.7%	-16.7%	-17.0%	-14.5%	-9.0%	-12.4%	-5.2%	-5.23%
Assets 5Y	4.5%	4.3%	4.5%	2.5%	1.6%	-9.6%	-9.5%	-13.4%	-13.3%	-13.5%	-12.5%	-12.6%	-12.1%	-12.3%	-12.1%	-12.5%	-11.3%	-10.4%	-12.2%	-12.2%	-12.19%
Equity 3Y	-21.1%	-15.8%	-3.2%	-3.7%	-2.7%	-8.3%	-6.1%	-44.6%	-45.5%	-66.6%	-64.5%	-65.9%	-68.7%	-66.0%	-71.3%	—	—	—	1.9%	—	—
Book Value 3Y	-21.1%	-14.4%	-1.5%	-2.0%	-0.9%	-5.9%	-3.1%	-42.8%	-43.6%	-65.5%	-63.3%	-64.7%	-67.9%	-65.7%	-71.1%	—	—	—	1.3%	—	—
Dividend 3Y	0.0%	1.0%	0.2%	-0.4%	-0.4%	-8.1%	-18.8%	-34.7%	-78.0%	-75.1%	-76.6%	-72.4%	-24.4%	-17.5%	-11.9%	-14.9%	-8.5%	-45.0%	—	-31.1%	-31.14%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.13	0.08	0.07	0.07	0.06	0.01	0.28	0.69	0.90	0.96	0.96	0.96	0.96	0.98	0.98	0.97	0.95	0.97	0.97	0.96	0.956
Earnings Stability	0.05	0.01	0.02	0.02	0.02	0.00	0.04	0.11	0.13	0.13	0.04	0.00	0.00	0.00	0.22	0.11	0.13	0.05	0.06	0.00	0.000
Margin Stability	0.88	0.88	0.90	0.86	0.88	0.88	0.89	0.87	0.90	0.89	0.91	0.86	0.85	0.88	0.89	0.87	0.89	0.94	0.96	0.90	0.896
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.00	1.00	0.50	0.50	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	0.00	0.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	1	1	1	1	1	1
Earnings Persistence	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.50	0.50	0.83	0.91	0.50	0.50	0.95	0.947
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	0.17	0.42	0.18	0.16	0.15	-0.18	-0.19	-4.73	-5.17	-24.71	-21.35	-2.17	-3.76	12.30	9.66	—	—	—	11.06	—	—
Gross Margin Trend	-0.12	-0.13	-0.04	-0.01	0.01	-0.00	-0.03	0.04	0.08	0.03	0.01	-0.08	-0.11	-0.02	-0.02	0.05	0.02	0.02	0.03	0.05	0.045
FCF Margin Trend	0.05	0.05	0.03	0.01	-0.03	-0.06	-0.12	-0.21	-0.22	-0.21	-0.16	-0.05	0.06	0.07	0.07	0.09	0.08	0.02	0.02	0.03	0.029
Sustainable Growth Rate	—	8.2%	9.3%	7.9%	8.4%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	1.6%	1.9%	1.7%	1.8%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	-8.61	3.20	2.94	3.06	2.71	-3.06	-2.42	-0.23	-0.19	-0.21	-0.25	-1.59	-2.07	-78.78	-13.82	-3.72	-2.94	-2.72	-2.86	-5.24	-5.241
FCF/OCF	0.57	0.55	0.57	0.53	0.45	0.36	0.22	-0.27	-0.40	-0.44	-0.19	0.05	0.29	0.25	0.24	0.21	0.25	0.08	0.09	0.16	0.156
FCF/Net Income	snapshot only																				-0.817
OCF/EBITDA	snapshot only																				2.399
CapEx/Revenue	14.1%	14.7%	14.3%	15.1%	16.4%	17.3%	18.6%	20.0%	21.0%	21.3%	22.5%	22.8%	23.6%	24.6%	25.5%	26.9%	28.7%	35.2%	37.3%	38.3%	38.29%
CapEx/Depreciation	snapshot only																				1.690
Accruals Ratio	-0.12	-0.08	-0.07	-0.07	-0.06	-0.12	-0.11	-0.28	-0.30	-0.31	-0.34	-0.15	-0.19	-0.13	-0.14	-0.17	-0.19	-0.19	-0.21	-0.20	-0.200
Sloan Accruals	snapshot only																				-0.218
Cash Flow Adequacy	snapshot only																				1.185

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	9.1%	9.1%	9.7%	9.6%	14.0%	15.0%	19.9%	11.9%	0.7%	0.6%	0.4%	0.5%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$1.03	$1.07	$1.05	$1.03	$1.02	$0.78	$0.53	$0.27	$0.01	$0.01	$0.01	$0.01	$0.00	$0.01	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	53.5%	49.3%	52.3%	50.9%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	29.4%	30.2%	29.6%	32.3%	41.8%	45.4%	59.0%	—	—	—	—	3.4%	0.3%	0.5%	0.4%	0.3%	0.2%	0.3%	0.0%	0.1%	0.12%
Total Payout Ratio	—	1.0%	95.7%	1.0%	55.4%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	—	0	0
Chowder Number	0.09	0.07	0.05	0.03	0.07	-0.13	-0.32	-0.63	-0.98	-0.98	-0.98	-0.98	-0.60	-0.45	-0.33	-0.40	-0.25	-0.83	—	-0.67	-0.667
Buyback Yield	7.5%	8.4%	9.1%	9.2%	1.2%	3.8%	7.7%	9.0%	14.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	7.5%	8.4%	9.1%	9.2%	1.2%	3.8%	7.7%	9.0%	14.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Shareholder Return	16.6%	17.5%	18.9%	18.9%	15.2%	18.9%	27.5%	20.9%	15.0%	0.6%	0.4%	0.5%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.01%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	4.11	0.75	0.75	0.75	0.71	1.56	1.47	1.04	1.01	1.01	0.99	0.95	0.95	0.24	0.54	0.70	0.71	0.64	0.76	0.73	0.731
Interest Burden (EBT/EBIT)	-0.05	0.68	0.70	0.69	0.70	-0.26	-0.31	1.83	1.68	1.13	1.12	2.36	2.38	-0.20	-0.68	5.77	2.41	1.90	2.03	3.16	3.160
EBIT Margin	0.21	0.20	0.21	0.20	0.22	0.21	0.22	-0.36	-0.45	-0.62	-0.68	-0.07	-0.07	0.09	0.07	-0.02	-0.08	-0.12	-0.09	-0.04	-0.037
Asset Turnover	0.33	0.34	0.33	0.33	0.33	0.34	0.32	0.33	0.33	0.37	0.36	0.40	0.38	0.39	0.39	0.39	0.37	0.37	0.38	0.37	0.371
Equity Multiplier	4.86	5.10	4.96	4.87	4.76	4.66	4.45	6.47	6.13	7.38	6.84	25.13	27.30	76.63	84.12	-511.00	-82.16	-103.89	5.38	-30.61	-30.609

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$-0.71	$2.00	$2.12	$1.96	$2.00	$-1.55	$-1.67	$-10.90	$-11.56	$-10.47	$-10.90	$-2.09	$-2.16	$-0.06	$-0.32	$-1.19	$-1.66	$-1.75	$-1.74	$-1.02	$-1.02
Book Value/Share	$10.46	$11.66	$12.10	$12.02	$12.37	$10.42	$11.19	$2.32	$2.26	$0.42	$0.51	$0.47	$0.35	$0.47	$0.29	$-0.60	$-1.18	$-1.12	$11.65	$-1.48	$-1.48
Tangible Book/Share	$-11.19	$-10.95	$-10.32	$-10.19	$-9.61	$-8.49	$-7.83	$-7.60	$-7.51	$-7.13	$-6.84	$-6.71	$-6.66	$-6.38	$-6.39	$-5.17	$-5.61	$-12.48	$7.41	$-5.51	$-5.51
Revenue/Share	$18.67	$19.39	$19.04	$18.71	$18.22	$17.56	$16.84	$15.85	$15.09	$14.80	$14.31	$13.89	$13.45	$13.27	$13.11	$12.94	$12.74	$12.45	$12.13	$11.78	$11.78
FCF/Share	$3.52	$3.55	$3.54	$3.18	$2.43	$1.73	$0.89	$-0.67	$-0.91	$-0.96	$-0.51	$0.15	$1.31	$1.12	$1.03	$0.95	$1.23	$0.37	$0.45	$0.83	$0.83
OCF/Share	$6.15	$6.40	$6.26	$6.01	$5.41	$4.76	$4.03	$2.50	$2.25	$2.20	$2.70	$3.32	$4.48	$4.39	$4.36	$4.42	$4.88	$4.76	$4.97	$5.35	$5.35
Cash/Share	$0.60	$0.35	$0.36	$0.36	$0.25	$1.26	$1.17	$0.42	$0.32	$2.27	$1.60	$1.52	$2.67	$1.91	$1.92	$1.58	$2.41	$1.01	$1.63	$1.87	$1.87
EBITDA/Share	$8.14	$8.13	$7.92	$7.46	$7.53	$7.28	$7.04	$-2.49	$-3.73	$-6.19	$-6.74	$2.11	$2.02	$4.15	$3.81	$2.60	$1.88	$1.32	$1.57	$2.23	$2.23
Debt/Share	$28.20	$30.70	$28.50	$28.05	$25.21	$22.10	$20.59	$20.72	$20.53	$21.65	$19.22	$19.13	$19.03	$19.36	$18.08	$18.33	$18.02	$17.77	$13.26	$13.44	$13.44
Net Debt/Share	$27.60	$30.35	$28.14	$27.70	$24.96	$20.85	$19.42	$20.30	$20.21	$19.38	$17.62	$17.61	$16.36	$17.44	$16.17	$16.75	$15.61	$16.76	$11.64	$11.57	$11.57

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-0.440
Altman Z-Prime	snapshot only																				-2.008
Piotroski F-Score	6	8	8	8	6	4	4	5	5	4	2	3	5	5	5	6	5	4	4	5	5
Beneish M-Score	-3.37	-3.12	-3.30	-3.13	-2.93	-3.18	-3.15	-4.67	-4.70	-4.08	-4.72	-2.93	-3.64	-3.23	-2.94	-3.36	-3.13	-3.73	-3.65	-3.67	-3.665
Ohlson O-Score	snapshot only																				-6.439
Net-Net WC	snapshot only																				$-28.05
EVA	snapshot only																				$-1327520000.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				CCC
Credit Score	35.19	37.49	41.37	40.20	35.69	35.92	37.50	18.06	18.09	19.76	15.50	9.33	12.39	18.73	17.94	20.00	20.00	18.36	13.09	13.69	13.688
Credit Grade	snapshot only																				17
Credit Trend	snapshot only																				-6.312
Implied Spread (bps)	snapshot only																				1200.000
Industry Credit Rank	snapshot only																				4
Sector Credit Rank	snapshot only																				3

LUMN NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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