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Qwest vs Lumen Technologies: revenue, profit, margins and growth compared

Qwest brought in $4.7B of revenue in fiscal 2025, Lumen Technologies $12.4B in fiscal 2025. Revenue changed by -13.8% at Qwest and -5.4% at Lumen Technologies on the year before, so Lumen Technologies grew faster. Qwest kept -27.9% of its revenue as net profit, Lumen Technologies -14.0%. Free cash flow was $938M at Qwest and $371M at Lumen Technologies.

Side by side, latest fiscal year

CTGGLUMN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$4.7B$12.4B
Revenue growth-13.8%-5.4%
Net income-$1.3B-$1.7B
Net margin-27.9%-14.0%
Free cash flow$938M$371M
Free cash flow margin19.8%3.0%
Earnings per share (diluted)n/a-$1.75
Cash$39M$1B
Debt$1.7B$17.4B
Price to earningsn/an/a
Market value$0$5.9B
Dividend yieldn/an/a
Rank by revenue in sector#13 of 65 · Telecommunications#8 of 65 · Telecommunications

Over the years

Revenue
CTGG FY2018: $8.4BCTGG FY2019: $8.1BCTGG FY2020: $7.3BCTGG FY2021: $7BCTGG FY2022: $6.4BCTGG FY2023: $5.9BCTGG FY2024: $5.5BCTGG FY2025: $4.7BLUMN FY2018: $22.6BLUMN FY2019: $21.5BLUMN FY2020: $20.7BLUMN FY2021: $19.7BLUMN FY2022: $17.5BLUMN FY2023: $14.6BLUMN FY2024: $13.1BLUMN FY2025: $12.4BFY18FY19FY20FY21FY22FY23FY24FY25
CTGG $4.7BLUMN $12.4B
Net income
CTGG FY2018: $1.7BCTGG FY2019: $1.8BCTGG FY2020: $1.7BCTGG FY2021: $2.1BCTGG FY2022: $1.9BCTGG FY2023: -$831MCTGG FY2024: $1.5BCTGG FY2025: -$1.3BLUMN FY2018: -$1.7BLUMN FY2019: -$5.3BLUMN FY2020: -$1.2BLUMN FY2021: $2BLUMN FY2022: -$1.5BLUMN FY2023: -$10.3BLUMN FY2024: -$55MLUMN FY2025: -$1.7BFY18FY19FY20FY21FY22FY23FY24FY25
CTGG -$1.3BLUMN -$1.7B
Net margin
CTGG FY2018: 19.8%CTGG FY2019: 22.7%CTGG FY2020: 23.3%CTGG FY2021: 30.3%CTGG FY2022: 29.8%CTGG FY2023: -14.0%CTGG FY2024: 27.0%CTGG FY2025: -27.9%LUMN FY2018: -7.7%LUMN FY2019: -24.6%LUMN FY2020: -5.9%LUMN FY2021: 10.3%LUMN FY2022: -8.9%LUMN FY2023: -70.7%LUMN FY2024: -0.4%LUMN FY2025: -14.0%FY18FY19FY20FY21FY22FY23FY24FY25
CTGG -27.9%LUMN -14.0%
Revenue growth
CTGG FY2019: -4.1%CTGG FY2020: -9.2%CTGG FY2021: -5.0%CTGG FY2022: -7.2%CTGG FY2023: -8.3%CTGG FY2024: -6.9%CTGG FY2025: -13.8%LUMN FY2019: -5.0%LUMN FY2020: -3.5%LUMN FY2021: -4.9%LUMN FY2022: -11.2%LUMN FY2023: -16.7%LUMN FY2024: -10.0%LUMN FY2025: -5.4%FY19FY20FY21FY22FY23FY24FY25
CTGG -13.8%LUMN -5.4%
Free cash flow
CTGG FY2018: $2.8BCTGG FY2019: $2.3BCTGG FY2020: $2BCTGG FY2021: $2.2BCTGG FY2022: $1.8BCTGG FY2023: $1.3BCTGG FY2024: $1.1BCTGG FY2025: $938MLUMN FY2018: $3.9BLUMN FY2019: $3.1BLUMN FY2020: $2.8BLUMN FY2021: $3.6BLUMN FY2022: $1.7BLUMN FY2023: -$940MLUMN FY2024: $1.1BLUMN FY2025: $371MFY18FY19FY20FY21FY22FY23FY24FY25
CTGG $938MLUMN $371M

Fiscal years as each company reports them; the two may end in different months.

Questions about Qwest and Lumen Technologies

Which is bigger by revenue, Qwest or Lumen Technologies?

Lumen Technologies is bigger by revenue: $12.4B in fiscal 2025, against $4.7B for Qwest in fiscal 2025.

Which keeps more of its revenue as profit, Qwest or Lumen Technologies?

Qwest had a net margin of -27.9% in fiscal 2025; Lumen Technologies had -14.0% in fiscal 2025.

Which grew revenue faster, Qwest or Lumen Technologies?

In their latest fiscal years revenue changed by -13.8% at Qwest and -5.4% at Lumen Technologies.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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