What is Lumen Technologies, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Lumen Technologies, Inc.'s reported free cash flow gives -$7.60 per share. The share price was $5.71 on September 25, 2026, 175% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -10.0% | 10.0% | -$8.98 | -257% |
| Base | -5.0% | 9.0% | -$7.60 | -233% |
| Bull | 0.0% | 8.0% | -$5.01 | -188% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | -$6.67 | -$6.40 | -$6.07 | -$5.66 | -$5.12 |
| 8.0% | -$7.35 | -$7.18 | -$6.97 | -$6.72 | -$6.41 |
| 9.0% | -$7.86 | -$7.73 | -$7.60 | -$7.43 | -$7.24 |
| 10.0% | -$8.24 | -$8.15 | -$8.06 | -$7.95 | -$7.82 |
| 11.0% | -$8.55 | -$8.48 | -$8.41 | -$8.33 | -$8.24 |
Where the presets come from
Base: years 1 to 5 grow at Lumen Technologies, Inc.'s revenue growth rate over the last 5 fiscal years (-9.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions