InterDigital
IDCC · Communications Equipment
$327.28
1.4%Lumentum
LITE · Communications Equipment
$756.17
0.5%The short version
- Lumentum is the larger business, with $3.0B of revenue in fiscal 2026 against $834M for InterDigital, about 3.6 times as much.
- Lumentum grew revenue faster (83.2%, against −4.0%).
- InterDigital kept more of each dollar of sales as operating profit (55.3% operating margin, against 17.4% operating margin).
- InterDigital turned more of its sales into free cash flow (63.4% FCF margin, against 10.0% FCF margin).
- InterDigital earned a higher return on the capital invested in it (113.5%, against 10.4%).
| Latest fiscal year | IDCC · FY25 | LITE · FY26 |
|---|---|---|
| Size | ||
| Market cap | $11.2B | $56.4B |
| Revenue | $834M | $3.0B |
| Free cash flow | $529M | $300M |
| Net income | $407M | −$6.9B |
| Growth | ||
| Revenue growth | −4.0% | 83.2% |
| 5-year growth | 18.4% | 11.6% |
| Share count change | 16.0% | 7.2% |
| Profitability | ||
| Gross margin | — | 41.7% |
| Operating margin | 55.3% | 17.4% |
| Net margin | 48.8% | −230.1% |
| FCF margin | 63.4% | 10.0% |
| Return on capital | 113.5% | 10.4% |
| Return on equity | 41.5% | −240.0% |
| Balance sheet | ||
| Net debt | −$769M | $496M |
| Net debt / EBITDA | −1.4x | 0.6x |
| Dividends and buybacks | $163M | $0.0M |
| Valuation & quality | ||
| P/E | 38.1x | — |
| Piotroski F-score | 6 | 5 |
FY17
IDCC $533M
LITE $1.0B
FY18
IDCC $307M
LITE $1.2B
FY19
IDCC $319M
LITE $1.6B
FY20
IDCC $359M
LITE $1.7B
FY21
IDCC $425M
LITE $1.7B
FY22
IDCC $458M
LITE $1.7B
FY23
IDCC $550M
LITE $1.8B
FY24
IDCC $869M
LITE $1.4B
FY25
IDCC $834M
LITE $1.6B
FY26
IDCC —
LITE $3.0B
IDCC
LITE
FY17
IDCC 56.6%
LITE 4.8%
FY18
IDCC 20.4%
LITE 11.2%
FY19
IDCC 11.9%
LITE −1.4%
FY20
IDCC 15.4%
LITE 12.2%
FY21
IDCC 16.7%
LITE 30.2%
FY22
IDCC 32.9%
LITE 17.7%
FY23
IDCC 40.3%
LITE −6.6%
FY24
IDCC 50.6%
LITE −31.9%
FY25
IDCC 55.3%
LITE −11.0%
FY26
IDCC —
LITE 17.4%
IDCC
LITE
FY17
IDCC $314M
LITE −$53.1M
FY18
IDCC $144M
LITE $154M
FY19
IDCC $84.9M
LITE $164M
FY20
IDCC $152M
LITE $438M
FY21
IDCC $128M
LITE $654M
FY22
IDCC $283M
LITE $368M
FY23
IDCC $209M
LITE $51.3M
FY24
IDCC $266M
LITE −$108M
FY25
IDCC $529M
LITE −$105M
FY26
IDCC —
LITE $300M
IDCC
LITE
FY17
IDCC —
LITE 8.7%
FY18
IDCC —
LITE 23.5%
FY19
IDCC 7.1%
LITE −2.0%
FY20
IDCC 20.3%
LITE 11.3%
FY21
IDCC 22.1%
LITE 27.5%
FY22
IDCC 63.7%
LITE 15.6%
FY23
IDCC —
LITE −4.7%
FY24
IDCC 132.6%
LITE −14.5%
FY25
IDCC 113.5%
LITE −5.3%
FY26
IDCC —
LITE 10.4%
IDCC
LITE
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.