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Sunday 1 November 2026
Export LITE’s income statement to Excel — free account
Lumentum Holdings Inc.
LITE Technology Communication Equipment
Lumentum Holdings Inc.’s revenue for fiscal 2026 (year ended June 2026) was $3.0 billion, up 83.2% from fiscal 2025.
- Revenue
- +109.3%
- EPS
- −2,866.3%
- Free cash flow
- +1,870.3%
- Total debt
- −36.4%
Quarter to June 2026, against a year earlier
840.70
78.83
−8.57%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to June
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 1,002 | 1,248 | 1,565 | 1,679 | 1,743 | 1,713 | 1,767 | 1,359 | 1,645 | 3,014 | +13.0% | 6,381 | 9,985 | 13,902 | +66.5% | |
| Gross margin, % | 31.76 | 34.63 | 27.21 | 38.73 | 44.93 | 46.05 | 32.20 | 18.50 | 27.96 | 41.67 | +9.9 pt | ||||||
| EBT | (60) | 129 | (33) | 174 | 463 | 235 | (102) | (406) | (172) | (7,173) | +70.2% | ||||||
| EBT margin, % | (5.97) | 10.37 | (2.13) | 10.38 | 26.57 | 13.73 | (5.80) | (29.85) | (10.46) | (237.98) | (232.0) pt | ||||||
| Net income | (102) | 248 | (36) | 136 | 397 | 199 | (132) | (546) | 26 | (6,935) | +59.7% | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 16.53 | 20.03 | 22.14 | 22.12 | 23.11 | 24.05 | 25.87 | 20.20 | 23.84 | 40.40 | +10.4% | |||||
| Earnings | (1.71) | 3.88 | (0.54) | 1.79 | 5.27 | 2.79 | (1.93) | (8.12) | 0.38 | (92.96) | +55.9% | ||||||
| Cash flow | 1.40 | 3.97 | 4.67 | 6.91 | 9.80 | 6.45 | 2.63 | 0.37 | 1.83 | 10.07 | +24.5% | ||||||
| Capex | (2.28) | (1.50) | (2.37) | (1.13) | (0.95) | (1.19) | (1.88) | (2.02) | (3.34) | (5.48) | +10.2% | ||||||
| Free cash flow | (0.88) | 2.48 | 2.30 | 5.77 | 8.85 | 5.26 | 0.76 | (1.66) | (1.51) | 4.59 | n/m | ||||||
| Book value | 10.21 | 14.87 | 21.18 | 23.05 | 26.16 | 26.33 | 19.85 | 14.22 | 16.44 | 62.25 | +22.2% | ||||||
| Shares, m | 61 | 62 | 71 | 76 | 75 | 71 | 68 | 67 | 69 | 75 | +2.3% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 0.00 | 14.87 | 0.00 | 45.75 | 15.62 | 28.67 | 0.00 | 0.00 | 288.06 | 0.00 | 39.3 | |||||
| P/S | 3.45 | 2.94 | 2.46 | 3.68 | 3.55 | 3.30 | 2.19 | 2.55 | 3.99 | 21.24 | 4.9 | ||||||
| P/B | 5.59 | 3.96 | 2.57 | 3.53 | 3.14 | 3.02 | 2.86 | 3.62 | 5.78 | 13.78 | 4.8 | ||||||
| EV/Sales | 3.21 | 2.64 | 2.51 | 3.43 | 3.11 | 2.91 | 2.64 | 3.97 | 5.02 | 20.87 | 5.0 | ||||||
| EV/FCF | (60.63) | 28.33 | 24.10 | 13.14 | 8.12 | 13.30 | 90.56 | (50.21) | (79.07) | 183.68 | 17.1 | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | 85 | 248 | 330 | 524 | 739 | 459 | 180 | 25 | 126 | 751 | +27.4% | |||||
| Capex | (138) | (93) | (167) | (86) | (71) | (85) | (128) | (136) | (231) | (409) | +12.8% | ||||||
| Free cash flow | (53) | 154 | 163 | 438 | 667 | 375 | 52 | (111) | (104) | 343 | n/m | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 746 | 913 | 1,039 | 1,767 | 1,772 | 2,423 | 2,144 | 1,321 | 1,325 | 1,681 | +9.4% | |||||
| Net debt | (238) | (370) | 72 | (422) | (765) | (673) | 798 | 1,616 | 1,696 | (1,101) | +18.6% | ||||||
| Shareholders’ equity | 619 | 926 | 1,497 | 1,749 | 1,973 | 1,875 | 1,356 | 957 | 1,135 | 4,644 | +25.1% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | (10.56) | 17.16 | (1.76) | 4.51 | 11.61 | 5.16 | (2.99) | (12.76) | 0.64 | (120.34) | (109.8) pt | |||||
| ROIC | 7.81 | 15.73 | (0.86) | 9.62 | 27.28 | 15.77 | (3.36) | (10.54) | (3.98) | 9.26 | +1.5 pt | ||||||
| ROE | (18.53) | 31.26 | (3.13) | 8.35 | 21.35 | 10.34 | (8.15) | (47.25) | 2.48 | (240.03) | (221.5) pt | ||||||
| People | |||||||||||||||||
| People | Employees | 2,057 | 2,930 | 5,161 | 5,473 | 5,618 | 6,815 | 7,500 | 7,257 | 10,562 | 13,757 | +23.5% | |||||
| Revenue/emp, $m | 0.49 | 0.43 | 0.30 | 0.31 | 0.31 | 0.25 | 0.24 | 0.19 | 0.16 | 0.22 | (8.5%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jun 2026 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Business profile
Where the money comes from and where it goes Fiscal 2022
| Cloud & Networking | 1,009 | 58.90% |
|---|---|---|
| Industrial Tech | 704 | 41.10% |
| Gross margin | 46.05% | |
| Operating margin | 17.71% | |
| Pre-tax margin | 13.73% |
Lumentum Holdings Inc. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| LITE Lumentum Holdings Inc. | $83.3B | — (loss-making) | 39.4× | +109.34% (above 0%: growing) | n/m | +1,870.30% (above 0%: growing) | 47.43% | 27.76% | |
| MSI Motorola Solutions, Inc. | $81.4B | 38.3× | 35.6× | +13.31% (above 0%: growing) | +9.09% (above 0%: growing) | +84.00% (above 0%: growing) | 53.56% | 25.82% | Compare |
| HPE Hewlett Packard Enterprise Company | $78.2B | 27.4× | 19.7× | +33.68% (above 0%: growing) | +438.10% (above 0%: growing) | +20.63% (above 0%: growing) | 40.11% | 11.41% | Compare |
| NOK Nokia Corporation | $52.7B | 4.6× | — | +8.48% (above 0%: growing) | n/m | −624.57% (below 0%: shrinking) | 44.57% | (1.04%) | Compare |
| CIEN Ciena Corporation | $49.6B | 69.3× | 55.3× | +37.05% (above 0%: growing) | +437.14% (above 0%: growing) | −13.59% (below 0%: shrinking) | 45.43% | 18.02% | Compare |
| UI Ubiquiti Inc. | $36.7B | 35.7× | 28.0× | +23.47% (above 0%: growing) | +6.80% (above 0%: growing) | +134.17% (above 0%: growing) | 45.80% | 36.27% | Compare |
| ERIC Ericsson | $33.4B | 14.3× | — | −3.14% (below 0%: shrinking) | −7.14% (below 0%: shrinking) | −89.23% (below 0%: shrinking) | 45.78% | 11.24% | Compare |
| ZBRA Zebra Technologies Corporation | $17.9B | 32.7× | 24.3× | +20.42% (above 0%: growing) | +122.27% (above 0%: growing) | +52.31% (above 0%: growing) | 52.99% | 20.62% | Compare |
| ASTS AST SpaceMobile, Inc. | $16.8B | — (loss-making) | — (loss-making) | +2,626.64% (above 0%: growing) | n/m | −103.37% (below 0%: shrinking) | 25.23% | (944.09%) | Compare |
| Median of peers | $43.1B | 32.7× | 28.0× | +21.94% | +65.68% | +3.52% | 45.60% | 14.72% |
From the latest earnings call
- CEO Michael Hurlston said demand for high-power lasers had risen faster than Lumentum could supply them, while the manufacturing ramp remained on track.
- Hurlston said Lumentum expects its first quarter with triple-digit optical circuit switch revenue in fiscal Q1 2027 as it expands manufacturing capacity.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
91.72%
Held by the ten largest
45.59%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 9.86m | 11.13% | +885.86k |
| BlackRock | 9.18m | 10.36% | +1.34m |
| JPMorgan Chase | 4.06m | 4.58% | +1.12m |
| Fidelity (FMR) | 3.52m | 3.97% | −3.67m |
| State Street | 3.45m | 3.90% | +415.17k |
| Invesco | 3.18m | 3.58% | +2.00m |
| Geode Capital Management | 2.25m | 2.53% | +117.66k |
| Jupiter Topco | 1.89m | 2.13% | +1.89m |
| T. Rowe Price | 1.64m | 1.85% | +329.25k |
| Arrowstreet Capital | 1.37m | 1.55% | +965.70k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 6 October 2026
Ownership
Directors and executive officers, together
less than 1%
Vanguard Capital Management
5.80%
BlackRock Inc.
5.80%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Lumentum Holdings Inc. (LITE) Latest News
LITE metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Lumentum makes optical and photonic products: devices that generate, guide, switch or detect light. These products help move data over fiber-optic connections and are used in cloud data centers, AI and machine-learning infrastructure, communications networks, industrial manufacturing and consumer electronics.
It sells Components, which are specialized building blocks that customers incorporate into larger products. These include semiconductor laser chips, laser sub-assemblies, line subsystems and wavelength-management systems. Its customers use them in optical transceivers, data-interconnect equipment and network infrastructure.