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Lumentum

LITE Nasdaq Communications Equipment Financials FY2017–FY2026

Lumentum's revenue rose 83.2% to $3.0 billion in fiscal 2026. Its operating margin was 17.4%, up from −10.9% a year earlier. Free cash flow was $300 million. The diluted share count rose 7.2%.

Last close · Oct 23, 2026

$756.17

0.5%
Value it Compare
Revenue Total sales reported in the income statement.
$3.0B
83.2% vs prior year
Operating margin Operating income as a share of revenue.
17.4%
28.4 pts
Net income Profit after all expenses, interest and tax.
−$6.9B
26,876.4%
Free cash flow Cash from operations minus capital spending.
$300M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
10.4%
15.7 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$56.4B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Lumentum does

No business description yet.

Legal name
Lumentum Holdings Inc.
Fiscal year ends
June 27, 2026
Latest annual report
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Accession · CIK
0001628280-26-057358
0001633978

Revenue and margins

Lumentum had $3.0B of revenue in fiscal 2026, up 83.2% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $300M in fiscal 2026, 10.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Lumentum returned $0.0M to shareholders in fiscal 2026, 0% of free cash flow. The diluted share count rose 7.2%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Lumentum yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$496M and divides by 74.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Lumentum can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $2.5B$2.0B$887M$877M$2.7B
Debt incl. finance leases $2.4B$2.8B$2.5B$2.6B$3.2B
Net debt / EBITDA −0.3x6.7x—23.1x0.6x
Debt / equity 1.3x2.1x2.6x2.3x0.7x
Interest coverage 3.8x−3.3x−12.8x−8.1x24.1x
Current ratio 4.4x4.4x5.9x4.4x1.7x
Quick ratio 4.0x3.7x4.4x3.2x1.4x
Total assets $4.2B$4.6B$3.9B$4.2B$7.3B
Total liabilities $2.3B$3.3B$3.0B$3.1B$2.7B
Shareholders' equity $1.9B$1.4B$957M$1.1B$4.6B
Net debt (− = net cash) −$138M$798M$1.6B$1.7B$496M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$30.6M

2 insiders

Of sales under plans

100%

$30.6M

DateInsiderTradeSharesPriceValueFiling
Oct 1, 2026 Wajid AliEVP & Chief Financial Officer Sold plan 24,542 $1,048.50 $25.7M Form 4
Sep 29, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 307 $945.00 $0.3M Form 4
Sep 28, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $948.50 $0.5M Form 4
Sep 25, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $935.75 $0.5M Form 4
Sep 24, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $921.07 $0.5M Form 4
Sep 23, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $946.56 $0.5M Form 4
Sep 22, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $935.55 $0.5M Form 4
Sep 21, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $959.27 $0.5M Form 4
Sep 18, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $920.00 $0.5M Form 4
Sep 17, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $933.45 $0.5M Form 4
Sep 16, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $856.83 $0.4M Form 4
Sep 15, 2026 Yuen WupenPresident, Global Bus. Units Sold plan 500 $841.51 $0.4M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✕ ✓ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✓ ✕ ✕
Share count didn't rise ✓ ✕ ✕
Gross margin rose ✕ ✓ ✓
Revenue rose relative to assets ✕ ✓ ✓
F-score 5 / 96 / 95 / 9
Accruals ratio −13.3%−2.5%−133.4%
Altman Z'' 1.061.490.34

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Lumentum LITE $56.4B 83.2% 17.4% 10.0% 10.4% — 5
F5 FFIV $26.2B 9.7% 24.8% 29.4% 30.5% 36.3x 8 Compare →
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Viasat VSAT $8.4B 2.7% 2.3% 32.2% 0.6% — 6 Compare →
Ciena CIEN $46.8B 18.8% 4.1% 14.0% 5.1% 71.5x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $1.0B $1.2B $1.6B $1.7B $1.7B $1.7B $1.8B $1.4B $1.6B $3.0B
Gross profit $318M $432M $426M $650M $783M $789M $569M $252M $460M $1.3B
Research and development $148M $157M $185M $199M $215M $221M $308M $302M $304M $357M
Operating income $47.6M $140M −$21.6M $204M $527M $303M −$116M −$434M −$180M $525M
Interest expense $5.5M $18.2M $36.3M $61.2M $66.7M $80.2M $35.5M $33.8M $22.2M $21.8M
Pretax income −$59.8M $129M −$33.3M $174M $463M $235M −$102M −$406M −$172M −$7.2B
Income tax $42.7M −$119M $3.1M $38.8M $65.8M $36.2M $29.2M $141M −$198M −$238M
Net income −$103M $248M −$36.4M $136M $397M $199M −$132M −$547M $25.9M −$6.9B
Diluted EPS −$1.71 $3.82 −$0.54 $1.75 $5.07 $2.68 −$1.93 −$8.12 $0.37 −$92.96
Diluted shares 0.06B 0.06B 0.07B 0.08B 0.08B 0.07B 0.07B 0.07B 0.07B 0.07B
Cash flow
Cash from operations $85.0M $248M $330M $524M $739M $459M $180M $24.7M $126M $751M
Capital expenditure $138M $93.2M $166M $86.0M $84.8M $91.2M $129M $133M $231M $451M
Free cash flow −$53.1M $154M $164M $438M $654M $368M $51.3M −$108M −$105M $300M
Depreciation and amortization $61.0M $77.2M $158M $192M $177M $167M $234M $261M $254M $265M
Stock-based compensation $32.7M $46.8M $60.7M $73.2M $92.9M $103M $148M $129M $177M $170M
Acquisitions $5.1M $0.0M $620M $0.0M $0.0M $0.0M $862M $701M $0.0M $38.0M
Share buybacks $0.0M $0.0M $0.0M $200M $236M $544M $176M $0.0M $0.0M $0.0M
Dividends paid $0.9M $0.7M $0.7M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.9M $0.7M $0.7M $200M $236M $544M $176M $0.0M $0.0M $0.0M
Balance sheet
Cash and short-term investments $555M $712M $769M $1.6B $1.9B $2.5B $2.0B $887M $877M $2.7B
Total debt $457M $457M $352M $1.5B $1.5B $2.4B $2.8B $2.5B $2.6B $3.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.6M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $930M $1.1B $1.3B $2.1B $2.4B $3.1B $2.8B $1.6B $1.7B $4.2B
Current liabilities $184M $214M $294M $283M $665M $717M $634M $269M $393M $2.5B
Inventory $145M $174M $229M $189M $196M $250M $409M $398M $470M $692M
Property and equipment, net $274M $307M $433M $393M $361M $361M $490M $573M $726M $1.2B
Total assets $1.2B $1.6B $2.7B $3.3B $3.6B $4.2B $4.6B $3.9B $4.2B $7.3B
Total liabilities $578M $620M $1.2B $1.5B $1.6B $2.3B $3.3B $3.0B $3.1B $2.7B
Shareholders' equity $619M $926M $1.5B $1.7B $2.0B $1.9B $1.4B $957M $1.1B $4.6B
Margins
Gross margin 31.8% 34.6% 27.2% 38.7% 44.9% 46.1% 32.2% 18.5% 28.0% 41.7%
Operating margin 4.8% 11.2% −1.4% 12.2% 30.2% 17.7% −6.6% −31.9% −11.0% 17.4%
EBITDA margin 10.8% 17.4% 8.7% 23.6% 40.4% 27.5% 6.7% −12.7% 4.5% 26.2%
Net margin −10.2% 19.9% −2.3% 8.1% 22.8% 11.6% −7.5% −40.2% 1.6% −230.1%
FCF margin −5.3% 12.4% 10.5% 26.1% 37.5% 21.5% 2.9% −8.0% −6.4% 10.0%
Returns
Return on capital 8.7% 23.5% −2.0% 11.3% 27.5% 15.6% −4.7% −14.5% −5.3% 10.4%
Return on capital employed 6.0% 11.6% −1.1% 7.5% 17.9% 9.6% −3.1% −11.3% −4.8% 12.1%
Return on equity −18.4% 32.1% −3.0% 8.4% 21.4% 10.3% −8.2% −47.3% 2.5% −240.0%
Return on assets −10.5% 17.6% −1.7% 4.5% 11.6% 5.2% −3.0% −12.8% 0.6% −120.3%
Growth
Revenue growth 10.9% 24.6% 25.5% 7.2% 3.8% −1.7% 3.2% −23.1% 21.0% 83.2%
Net income growth −588.1% — −114.7% — 193.2% −49.9% −166.2% — — −26,876.5%
EPS growth — — −114.1% — 189.7% −47.1% −172.0% — — −25,224.3%
FCF growth −1,254.4% — 6.4% 167.1% 49.2% −43.7% −86.1% −311.1% — —
Share count change 2.5% 4.5% 11.7% 9.8% 1.0% −5.4% −8.0% −1.5% 3.4% 7.2%
Financial health
Net debt / EBITDA −0.9x −1.2x −3.1x −0.0x −0.6x −0.3x 6.7x — 23.1x 0.6x
Debt / equity 0.7x 0.5x 0.2x 0.9x 0.8x 1.3x 2.1x 2.6x 2.3x 0.7x
Interest coverage 8.7x 7.7x −0.6x 3.3x 7.9x 3.8x −3.3x −12.8x −8.1x 24.1x
Current ratio 5.1x 5.3x 4.5x 7.2x 3.7x 4.4x 4.4x 5.9x 4.4x 1.7x
Quick ratio 4.3x 4.5x 3.8x 6.6x 3.4x 4.0x 3.7x 4.4x 3.2x 1.4x
Capital allocation
Capex / revenue 13.8% 7.5% 10.6% 5.1% 4.9% 5.3% 7.3% 9.8% 14.0% 15.0%
Stock comp / revenue 3.3% 3.8% 3.9% 4.4% 5.3% 6.0% 8.4% 9.5% 10.8% 5.7%
Payouts / FCF — 0.5% 0.4% 45.6% 36.1% 147.8% 342.3% — — 0.0%
Quality scores
Piotroski F-score 4.0 6.0 3.0 6.0 6.0 6.0 4.0 5.0 6.0 5.0
Altman Z'' 5.1 6.3 3.9 5.2 5.8 5.1 3.1 1.1 1.5 0.3
Accruals ratio −19.1% 0.0% −17.1% −12.9% −10.0% −6.8% −7.1% −13.3% −2.5% −133.4%

Source: SEC EDGAR XBRL filings (CIK 0001633978). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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