Lumentum Holdings Inc. LITE
Lumentum Holdings Inc. ("we," "us," "our", "Lumentum" or the "Company") is a global leader in optical and photonic technologies and an industry-leading provider of optical and photonic products based on revenue and market share. Our products are essential to a range of cloud, artificial intelligence and machine learning ("AI/ML"), telecommunications, consumer, and industrial end-market applications. We operate in one reportable segment as a single, integrated enterprise. See "Note 17. Operating Segments and Geographic Information" to the consolidated financial statements.
We disaggregate revenue by type of product, which are Components and Systems, and by geography. A Components product is defined as one of the individual building blocks that goes into creating a larger solution. It is typically not a complete solution on its own but rather a specialized element that enables system functionality. This includes semiconductor laser chips, laser sub-assemblies, line subsystems and wavelength management systems. These are supplied to customers who then integrate them into their own full system solutions. Components represent foundational parts that support or enable that system's operation and include optical chips and subsystems that are supplied to cloud data center operators, AI/ML infrastructure providers, and network equipment manufacturer customers.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.01B | $1.65B | $1.36B | $1.77B | $1.71B | $1.74B | $1.68B | $1.57B | $1.25B | $1.00B |
| Cost of revenue | — | — | — | — | — | — | — | $1.09B | $812.4M | $677.0M |
| Gross profit | $1.26B | $459.9M | $251.5M | $569.0M | $788.6M | $783.1M | $650.2M | $425.9M | $432.1M | $318.1M |
| R&D | $356.5M | $303.9M | $302.2M | $307.8M | $220.7M | $214.5M | $198.6M | $184.6M | $156.8M | $148.3M |
| SG&A | $363.2M | $348.2M | $310.7M | $348.8M | $265.7M | $241.4M | $235.2M | $200.3M | $128.2M | $110.2M |
| Total operating expenses | $731.1M | $640.0M | $685.5M | $684.7M | $485.3M | $256.1M | $446.1M | $447.5M | $292.2M | $270.5M |
| Operating income | $524.8M | -$180.1M | -$434.0M | -$115.7M | $303.3M | $527.0M | $204.1M | -$21.6M | $139.9M | $47.6M |
| Interest expense | $21.8M | $22.2M | $33.8M | $35.5M | $80.2M | $66.7M | $61.2M | $36.3M | $18.2M | $5.5M |
| Pre-tax income | -$6.70B | $223.9M | -$405.7M | -$102.4M | $235.1M | $463.1M | $174.3M | -$33.3M | $129.4M | -$59.8M |
| Income tax | $237.7M | $198.0M | $140.8M | $29.2M | $36.2M | $65.8M | $38.8M | $3.1M | $118.7M | $42.7M |
| Net income | -$6.94B | $25.9M | -$546.5M | -$131.6M | $198.9M | $397.3M | $135.5M | -$36.4M | $248.1M | -$102.5M |
| EPS, basic | -92.96 | 0.38 | -8.12 | -1.93 | 2.79 | 5.27 | 1.79 | -0.54 | 3.88 | -1.71 |
| EPS, diluted | -92.96 | 0.37 | -8.12 | -1.93 | 2.68 | 5.07 | 1.75 | -0.54 | 3.82 | -1.71 |
| Shares, diluted (wtd. avg.) | $74.6M | $69.6M | $67.3M | $68.3M | $74.2M | $78.4M | $77.6M | $70.7M | $63.3M | $60.6M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.04B | $520.7M | $436.7M | $859.0M | $1.29B | $774.3M | $298.0M | $432.6M | $397.3M | $272.9M |
| Short-term investments | $694.9M | $356.4M | $450.3M | $1.15B | $1.26B | $1.17B | $1.26B | $335.9M | $314.2M | $282.4M |
| Receivables | — | — | — | — | — | — | — | — | $197.1M | $166.3M |
| Inventory | $691.6M | $470.1M | $398.4M | $408.6M | $250.1M | $196.4M | $188.9M | $228.8M | $174.1M | $145.2M |
| Total current assets | $4.16B | $1.72B | $1.59B | $2.78B | $3.14B | $2.44B | $2.05B | $1.33B | $1.13B | $930.3M |
| Property, plant and equipment | — | — | — | — | — | — | — | $433.3M | $306.9M | $273.5M |
| Goodwill | $1.07B | $1.06B | $1.06B | $695.1M | $368.9M | $368.9M | $368.9M | $368.9M | $11.3M | $11.4M |
| Other intangibles | $326.9M | $465.1M | $617.5M | $459.2M | $155.7M | $241.2M | $316.8M | $395.4M | $7.0M | $10.1M |
| Total assets | $7.31B | $4.22B | $3.93B | $4.63B | $4.16B | $3.55B | $3.29B | $2.72B | $1.58B | $1.23B |
| Accounts payable | $567.4M | $225.2M | $126.3M | $169.4M | $156.7M | $116.9M | $150.8M | $160.8M | $126.5M | $114.8M |
| Short-term debt | $1.60B | $10.6M | $0 | — | — | — | — | — | — | — |
| Total current liabilities | $2.48B | $392.8M | $269.3M | $633.8M | $716.5M | $664.6M | $283.0M | $294.0M | $214.0M | $184.2M |
| Long-term debt | $40.5M | $2.56B | $2.50B | — | $2.41B | $1.53B | $1.54B | — | $456.7M | $457.3M |
| Total liabilities | $2.66B | $3.08B | $2.97B | $3.28B | $2.29B | $1.58B | $1.54B | $1.22B | $619.6M | $578.3M |
| Retained earnings | -$7.80B | -$861.2M | -$887.1M | -$340.6M | -$129.1M | $220.9M | $64.6M | $129.1M | $166.4M | -$83.2M |
| Total equity | $4.64B | $1.13B | $957.3M | $1.36B | $1.88B | $1.97B | $1.75B | $1.50B | $926.1M | $618.8M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $751.4M | $126.3M | $24.7M | $179.8M | $459.3M | $738.7M | $524.3M | $330.1M | $247.5M | $85.0M |
| Depreciation and amortisation | $128.8M | $104.3M | $110.6M | $106.6M | $81.6M | $91.4M | $113.3M | $102.9M | $74.0M | $54.2M |
| Stock-based compensation | $170.2M | $177.2M | $128.8M | $148.4M | $103.1M | $92.9M | $73.2M | $60.7M | $46.8M | $32.7M |
| Capital expenditure | $451.3M | $231.0M | $133.0M | $128.5M | $91.2M | $84.8M | $86.0M | $166.0M | $93.2M | $138.1M |
| Investing cash flow | -$785.5M | -$84.1M | -$114.3M | -$874.0M | -$226.3M | $1.0M | -$987.7M | -$779.7M | -$127.0M | -$425.7M |
| Financing cash flow | $1.56B | $41.8M | -$332.7M | $263.0M | $282.9M | -$263.4M | $328.8M | $485.1M | $3.8M | $456.7M |
| Buybacks | — | $0 | $0 | $175.6M | $543.9M | $236.0M | $200.0M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-057358.
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