<p>Lumen Technologies 宣布了一系列以人工智能驱动的安全和企业网络为重点的新产品发布。亮点包括为 AWS 客户扩展的云保护和与微软合作提供的托管威胁检测服务。</p>
<p>查看我们对 Lumen Technologies 的最新分析。</p>
<p>Lumen Technologies 在过去几周推出了一系列高影响力的产品和新合作，每个都突显了更大胆的人工智能驱动的安全和网络能力。这一势头似乎唤醒了市场，Lumen 的股价在过去 90 天内上涨了 75.6%。尽管在上个月出现波动，但该公司过去一年的投资者总回报率上升了 23%，这表明对其转型故事和增长前景的信心正在增强。</p>
<p>如果您有兴趣了解更多利用先进技术推动增长的公司，请查看我们最新的科技和人工智能增长筛选器中的动向，完整列表可免费查看。</p>
<p>因此，在强劲反弹的情况下，但考虑到波动的历史和投资者的怀疑，Lumen 是否仍然在雷达下作为一个便宜的选择？还是所有未来的增长已经反映在当前价格中？</p>
<h2>最受欢迎的叙述：14.6% 被高估</h2>
<p>Lumen Technologies 最广泛关注的叙述表明，该股票的交易价格高于其公允价值估计，这一估计基于在持续的收入压力下盈利的正常化预测。这表明股价的强劲反弹已经超前于分析师共识的公允价值预期。</p>
<blockquote>
<p><em>Lumen 的大型人工智能驱动网络基础设施和平台连接光纤（PCF）合同，特别是与超大规模云服务商和数据中心提供商的合作，使公司能够从爆炸性的数据增长中捕获长期、高利润的经常性收入。这有利于长期收入和利润扩张。Lumen 的网络即服务（NaaS）和数字平台在企业客户中的日益普及，加上即将与主要云和技术解决方案市场的整合，扩大了商业覆盖面并改善了网络利用率，支持未来的收入加速和运营杠杆。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>好奇雄心勃勃的合同赢得和云合作伙伴关系如何影响 Lumen 的估值计算？主流叙述声称，由于大胆的利润增长预期和从传统业务的强力转型，Lumen 正在实现反转。想了解这些强大假设的内幕，比如利润跃升和收入结构变化的内涵吗？点击查看是什么推动了这一有争议的公允价值。</p>
<p><strong>结果：公允价值为 7.23 美元（被高估）</strong></p>
<p>完整阅读叙述，了解预测背后的内容。</p>
<p>然而，传统收入的持续下降和持续的执行挑战可能迅速削弱当前围绕 Lumen 转型叙述的乐观情绪。</p>
<p>了解 Lumen Technologies 叙述的关键风险。</p>
<h2>另一种观点：比较价格比率</h2>
<p>尽管分析师认为 Lumen Technologies 的交易价格高于其公允价值，但我们的价格与销售比率分析却显示出不同的故事。该比率仅为 0.7 倍，而同行平均为 7.9 倍，公允比率为 1.3 倍，股票相对于竞争对手和市场预期显得便宜。这种脱节是否揭示了真正的机会，还是有未被发现的风险在抑制价格？</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d877f040-981d-4c6f-bcdd-cfdf26281438/chart/ps-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d877f040-981d-4c6f-bcdd-cfdf26281438/chart/ps-multiple-vs-industry"/></p>
<p>NYSE:LUMN 截至 2025 年 12 月的 PS 比率</p>
<h2>构建您自己的 Lumen Technologies 叙述</h2>
<p>如果您想挑战共识或深入挖掘数字，您可以在几分钟内构建自己的观点。按照您的方式进行。</p>
<p>您对 Lumen Technologies 研究的一个很好的起点是我们的分析，突出了 2 个关键奖励和 3 个可能影响您投资决策的重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>通过这些您可能错过的顶级精选，将您的投资策略提升到一个新水平。市场不会等待，因此请果断行动，保持领先。</p>
<ul>
<li>发现收入机会，提升您投资组合的收益，查看这 14 只年收益超过 3% 的股息股票。</li>
<li>通过关注这 25 只引领突破和塑造未来技术格局的人工智能便士股票，乘上创新的浪潮。</li>
<li>通过扫描这 3565 只财务稳健且市场潜力强大的便士股票，提前捕捉下一个增长故事。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

LUMN

<p>Lumen Technologies 推出了基于人工智能的安全和网络产品，使其股价在 90 天内上涨了 75.6%。尽管市场波动，投资者信心正在增强，过去一年回报率为 23%。分析师认为该股票被高估了 14.6%，交易价格高于公允价值估算。然而，较低的市销率表明与同行相比可能被低估。该公司的人工智能驱动网络基础设施为其长期收入增长奠定了基础，尽管在传统收入方面面临挑战</p>

<p>Lumen Technologies has announced a series of new product launches focused on AI-driven security and enterprise networking. Highlights include expanded cloud protection for AWS customers and a managed threat detection offering in partnership with Microsoft.</p>
<div class="lb-trans"><p>Lumen Technologies 宣布了一系列以人工智能驱动的安全和企业网络为重点的新产品发布。亮点包括为 AWS 客户扩展的云保护和与微软合作提供的托管威胁检测服务。</p>
</div><p>See our latest analysis for Lumen Technologies.</p>
<div class="lb-trans"><p>查看我们对 Lumen Technologies 的最新分析。</p>
</div><p>Lumen Technologies has packed the past few weeks with high-impact launches and new collaborations, each spotlighting bolder AI-driven security and networking capabilities. This momentum seems to have woken up the market, with Lumen’s share price rallying 75.6% over the past 90 days. Even with volatility in the last month, the company’s total return for investors is up 23% over the past year, suggesting confidence is building around its transformation story and growth runway.</p>
<div class="lb-trans"><p>Lumen Technologies 在过去几周推出了一系列高影响力的产品和新合作，每个都突显了更大胆的人工智能驱动的安全和网络能力。这一势头似乎唤醒了市场，Lumen 的股价在过去 90 天内上涨了 75.6%。尽管在上个月出现波动，但该公司过去一年的投资者总回报率上升了 23%，这表明对其转型故事和增长前景的信心正在增强。</p>
</div><p>If you’re interested in finding more companies driving growth with advanced technology, check out the latest movers in our tech and AI growth screener, See the full list for free.</p>
<div class="lb-trans"><p>如果您有兴趣了解更多利用先进技术推动增长的公司，请查看我们最新的科技和人工智能增长筛选器中的动向，完整列表可免费查看。</p>
</div><p>So with a powerful rally underway, but considering a volatile history and plenty of investor skepticism, is Lumen still flying under the radar as a bargain? Or is all that future growth already reflected in the current price?</p>
<div class="lb-trans"><p>因此，在强劲反弹的情况下，但考虑到波动的历史和投资者的怀疑，Lumen 是否仍然在雷达下作为一个便宜的选择？还是所有未来的增长已经反映在当前价格中？</p>
</div><h2>Most Popular Narrative: 14.6% Overvalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：14.6% 被高估</h2>
</div><p>Lumen Technologies’ most widely followed narrative suggests that the stock trades above its fair value estimate, which is based on forecasts for normalization in earnings amid ongoing revenue headwinds. This signals that the bullish recovery in share price has moved ahead of analyst consensus fair value expectations.</p>
<div class="lb-trans"><p>Lumen Technologies 最广泛关注的叙述表明，该股票的交易价格高于其公允价值估计，这一估计基于在持续的收入压力下盈利的正常化预测。这表明股价的强劲反弹已经超前于分析师共识的公允价值预期。</p>
</div><blockquote>
<p><em>Lumen's large pipeline of AI-driven network infrastructure and Platform Connectivity Fiber (PCF) contracts, particularly with hyperscalers and data center providers, positions the company to capture long-duration, higher-margin recurring revenues from explosive data growth. This benefits long-term revenue and margin expansion. Growing adoption of Lumen's Network-as-a-Service (NaaS) and digital platform by enterprise customers, combined with upcoming integrations into major cloud and tech solution marketplaces, expands commercial reach and improves network utilization, supporting future revenue acceleration and operating leverage.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>Lumen 的大型人工智能驱动网络基础设施和平台连接光纤（PCF）合同，特别是与超大规模云服务商和数据中心提供商的合作，使公司能够从爆炸性的数据增长中捕获长期、高利润的经常性收入。这有利于长期收入和利润扩张。Lumen 的网络即服务（NaaS）和数字平台在企业客户中的日益普及，加上即将与主要云和技术解决方案市场的整合，扩大了商业覆盖面并改善了网络利用率，支持未来的收入加速和运营杠杆。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Curious how ambitious contract wins and cloud partnerships could shake up Lumen’s valuation math? The dominant narrative claims a turnaround, driven by bold projected margin gains and a hard pivot from legacy business. Want the inside track on the powerful assumptions, like what margin leap and revenue mix shift are baked in? Click to see what's driving this controversial fair value.</p>
<div class="lb-trans"><p>好奇雄心勃勃的合同赢得和云合作伙伴关系如何影响 Lumen 的估值计算？主流叙述声称，由于大胆的利润增长预期和从传统业务的强力转型，Lumen 正在实现反转。想了解这些强大假设的内幕，比如利润跃升和收入结构变化的内涵吗？点击查看是什么推动了这一有争议的公允价值。</p>
</div><p><strong>Result: Fair Value of $7.23 (OVERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 7.23 美元（被高估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的内容。</p>
</div><p>However, persistent declines in legacy revenue and continued execution challenges could quickly undermine the current optimism surrounding Lumen’s turnaround narrative.</p>
<div class="lb-trans"><p>然而，传统收入的持续下降和持续的执行挑战可能迅速削弱当前围绕 Lumen 转型叙述的乐观情绪。</p>
</div><p>Find out about the key risks to this Lumen Technologies narrative.</p>
<div class="lb-trans"><p>了解 Lumen Technologies 叙述的关键风险。</p>
</div><h2>Another View: Comparing Price Ratios</h2>
<div class="lb-trans"><h2>另一种观点：比较价格比率</h2>
</div><p>While analysts argue Lumen Technologies is trading above its fair value, our price-to-sales ratio analysis suggests a different story. With a ratio of just 0.7x compared to the peer average of 7.9x and a fair ratio of 1.3x, the shares look inexpensive relative to both competitors and market expectations. Does this disconnect reveal real opportunity, or are there unseen risks holding the price back?</p>
<div class="lb-trans"><p>尽管分析师认为 Lumen Technologies 的交易价格高于其公允价值，但我们的价格与销售比率分析却显示出不同的故事。该比率仅为 0.7 倍，而同行平均为 7.9 倍，公允比率为 1.3 倍，股票相对于竞争对手和市场预期显得便宜。这种脱节是否揭示了真正的机会，还是有未被发现的风险在抑制价格？</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/d877f040-981d-4c6f-bcdd-cfdf26281438/chart/ps-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/d877f040-981d-4c6f-bcdd-cfdf26281438/chart/ps-multiple-vs-industry"/></p>
<p>NYSE:LUMN PS Ratio as at Dec 2025</p>
<div class="lb-trans"><p>NYSE:LUMN 截至 2025 年 12 月的 PS 比率</p>
</div><h2>Build Your Own Lumen Technologies Narrative</h2>
<div class="lb-trans"><h2>构建您自己的 Lumen Technologies 叙述</h2>
</div><p>If you want to challenge the consensus or dig deeper into the numbers, you can build your own perspective in just a few minutes. Do it your way</p>
<div class="lb-trans"><p>如果您想挑战共识或深入挖掘数字，您可以在几分钟内构建自己的观点。按照您的方式进行。</p>
</div><p>A great starting point for your Lumen Technologies research is our analysis highlighting 2 key rewards and 3 important warning signs that could impact your investment decision.</p>
<div class="lb-trans"><p>您对 Lumen Technologies 研究的一个很好的起点是我们的分析，突出了 2 个关键奖励和 3 个可能影响您投资决策的重要警示信号。</p>
</div><h2>Looking for More Investment Ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Take your investment strategy to the next level with top picks you might miss otherwise. The market will not wait, so act decisively and stay ahead of the crowd.</p>
<div class="lb-trans"><p>通过这些您可能错过的顶级精选，将您的投资策略提升到一个新水平。市场不会等待，因此请果断行动，保持领先。</p>
</div><ul>
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</ul>
<div class="lb-trans"><ul>
<li>发现收入机会，提升您投资组合的收益，查看这 14 只年收益超过 3% 的股息股票。</li>
<li>通过关注这 25 只引领突破和塑造未来技术格局的人工智能便士股票，乘上创新的浪潮。</li>
<li>通过扫描这 3565 只财务稳健且市场潜力强大的便士股票，提前捕捉下一个增长故事。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，采用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

Lumen Technologies (LUMN)：在推出新的 AI 安全和网络产品后进行估值评估