Lumentum Holdings Inc. (LITE) financials

NASDAQ · Technology · Communication Equipment · 13,757 employees · CEO Michael E. Hurlston

Price: $840.70 -8.57%
Market cap: $76.2B
Enterprise value: $75.8B
Last report: Q4 '26 filed 2026-08-17
Next report: 2026-11-05 EPS est. $4.22

Revenue (TTM)$3.01B+83.2% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)17.4%+29.7 pp vs a year agoOperating income $525M

Net income (TTM)-$6.94B-26,876.4% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$551M+625.8% vs a year agoCapex $201M

Diluted EPS (TTM)-$92.96-40,517.4% vs a year agoSum of the last 4 quarters

Net cash$1.07B+161.6% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $76.2B
Revenue: $3.01B
Revenue growth: +110%
Profit margin: -230.1%
P/E: -9.0×
P/S: 25.3×
EV / EBITDA: -11.0×
Free cash flow: $551M
Net income: -$6.94B
Revenue estimate: $6.33B
Earnings: 2026-11-05
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-08-11): revenue beat by 1.9%, EPS beat by 8.8%Revenue $1.01B vs $988M expected (+1.9%); EPS $3.23 vs $2.97 (+8.8%).
Revenue growth accelerating: 109.3% year on yearQ4 '26 revenue $1.01B, against an average of 67.5% over the four quarters before.
Operating margin 17.4% (TTM), +29.7 pp on a year agoOperating income grew 359.9% while revenue grew 83.2%.
Capex 6.7% of revenue (a year ago 14.0%)$201M invested in the last 4 quarters (-13.0% on a year earlier). Free cash flow $551M.
Diluted share count up 3.6% in a year74.6M diluted shares in Q4 '26, 72M a year earlier.
Net cash $1.07BCash + short-term investments $2.74B, debt incl. leases $1.67B; a year ago net debt $1.73B.

Last quarter: Q4 '26

Quarter ended 2026-06-27. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q4 '26	Year ago	Change
Revenue	$1.01B	$481M	+109.3%
Gross margin	47.4%	33.3%	+14.2 pp
Operating income	$270M	-$3.2M	+8,546.9%
Operating margin	26.9%	-0.7%	+27.5 pp
Net income	-$7.16B	$213M	-3,457.6%
Diluted EPS	-$95.40	$2.96	-3,323.0%
Operating cash flow	$363M	$64M	+467.2%
Capex	$76.2M	$53.9M	+41.4%
Free cash flow	$287M	$10.1M	+2,739.6%
R&D	$104M	$79.5M	+31.3%
Stock-based compensation	$40.8M	$40M	+2.0%

Reported vs consensus

2026-08-11

	Actual	Consensus	vs consensus
Revenue	$1.01B	$988M	+1.9%
EPS (as estimated)	$3.23	$2.97	+8.8%

From the report of 2026-08-11 for Q4 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q4 '26	y/y	Share	TTM	TTM y/y	12 quarters
Systems	$1.35B	–	100.0%	$2.01B	–
Components	$0	–	0.0%	$1.36B	–

Revenue by region

share of total

Segment	Q4 '26	y/y	Share	TTM	TTM y/y
Asia Pacific	$590M	+105.3%	26.0%	$1.75B	+75.1%
THAILAND	$518M	–	22.9%	–	–
Americas	$369M	+156.4%	16.3%	$1.08B	+125.6%
United States	$204M	–	9.0%	$628M	–
Hong Kong	$172M	–	7.6%	$519M	–
MEXICO	$164M	–	7.2%	$444M	–
CHINA	$111M	–	4.9%	$285M	–
EMEA	$48.1M	-3.4%	2.1%	$177M	+8.3%
Other Asia Pacific Not Individually Identified	$59M	–	2.6%	$217M	–
JAPAN	$30.6M	–	1.4%	$105M	–
Americas Excluding United States And Mexico	$1M	–	0.0%	$13.2M	–

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $751M
Capex: -$201M
Buybacks: $796M
Dividends: $0
Acquisitions: $1.5M
Net debt issued: $337M
Stock-based compensation: $170M
Free cash flow: $551M
Returned to shareholders / FCF: -144.5%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	-9.0×	138.6× 2 of 5 years	27.9× – 249.3×
EV / EBITDA	-11.0×	41.6× 3 of 5 years	12.8× – 80.8×
EV / Sales	25.1×	7.3×	3.3× – 20.1×
Price / FCF	138.3×	97.9× 3 of 5 years	15.1× – 203.1×
Price / Book	13.5×	5.7×	2.9× – 13.1×
FCF yield	0.7%	0.7%	-3.2% – 6.6%
Return on invested capital	7.9%	0.7%	-9.8% – 7.9%
Return on equity	-300.1%	-40.6%	-149.3% – 10.6%

Analysts

Consensus target $1,103.17 (+31.2%)
range $820.00 – $1,250.00 · rating Buy

Strong buy1

Buy17

Hold7

Sell0

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2027	$6.33B	+110.0%	$21.81	+123.5%	38.5×	16
FY2028	$10B	+58.0%	$35.23	+61.5%	23.9×	13
FY2029	$14B	+40.5%	$49.00	+39.1%	17.2×	5
FY2030	$20.7B	+47.1%	$63.53	+29.7%	13.2×	1

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 304 figures Lumentum Holdings Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	–	–	–	-$23M	–	–
	–	–	–	0.3%	–	–
	–	–	–	-1.4%	–	–
	–	–	–	$12.3M	–	–
	–	–	–	$1.2M	–	–
Accounts Payable, Current	$567M	$225M	+152.0%	$567M	$225M	+152.0%
Accounts Receivable, Allowance for Credit Loss	$3.5M	$3.5M	0.0%	$3.5M	$3.5M	0.0%
Accounts Receivable, Credit Loss Expense (Reversal)	$200K	$0	–	$100K	$3.4M	-97.1%
Accrued Income Taxes, Noncurrent	$7.1M2026-03-28	$7M	+1.4%	$8.2M2023-07-01	$4.6M	+78.3%
Accrued Liabilities, Current	$64.9M	$34.6M	+87.6%	$64.9M	$34.6M	+87.6%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$856M	$753M	+13.6%	$856M	$753M	+13.6%
Accumulated Other Comprehensive Income (Loss), Net of Tax	$10M	$9M	+11.1%	$10M	$9M	+11.1%
Additional Paid in Capital	$12.4B	$1.99B	+525.6%	$12.4B	$1.99B	+525.6%
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt	–	–	–	-$700K	–	–
Amortization of Debt Discount (Premium)	$800K	$700K	+14.3%	$3.8M	$3M	+26.7%
Amortization of Intangible Assets	$33.5M	$34.6M	-3.2%	$136M	$150M	-9.4%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	16.4M	–	–	16.4M	5.8M	+182.8%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$41.3M2026-03-28	$62.7M	-34.1%	$165M	$177M	-6.9%
Asset Impairment Charges	–	–	–	$14.6M2025-06-28	–	–
Asset Retirement Obligations, Noncurrent	$9M	$7.1M	+26.8%	$9M	$7.1M	+26.8%
Assets	$7.31B	$4.22B	+73.2%	$7.31B	$4.22B	+73.2%
Assets, Current	$4.16B	$1.72B	+142.4%	$4.16B	$1.72B	+142.4%
Assets, Fair Value Disclosure	$2.1B	$528M	+298.5%	$2.1B	$528M	+298.5%
Business Combination, Consideration Transferred, Liabilities Incurred	–	–	–	$02025-06-28	$0	–
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory	–	–	–	$0	$0	–
Business Exit Costs	–	–	–	$6.7M2024-06-29	–	–
Cash	$636M	$350M	+81.9%	$636M	$350M	+81.9%
Cash and Cash Equivalents, at Carrying Value	$2.04B	$521M	+292.5%	$2.04B	$521M	+292.5%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$2.04B	$521M	+292.5%	$2.04B	$521M	+292.5%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$574M	$4.3M	-13,455.8%	$1.52B	$84M	+1,712.9%
Common Stock, Par or Stated Value Per Share	$0.00	$0.00	0.0%	$0.00	$0.00	0.0%
Common Stock, Shares Authorized	990M	990M	0.0%	990M	990M	0.0%
Common Stock, Shares, Issued	88.6M	69.8M	+26.9%	88.6M	69.8M	+26.9%
Common Stock, Shares, Outstanding	88.6M	69.8M	+26.9%	88.6M	69.8M	+26.9%
Common Stock, Value, Issued	$100K	$100K	0.0%	$100K	$100K	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	-$7.16B	$211M	-3,489.5%	-$6.93B	$25.6M	-27,186.3%
Contract with Customer, Asset, after Allowance for Credit Loss	$520M	$250M	+108.1%	$520M	$250M	+108.1%
Contract with Customer, Liability	$16.8M	$700K	+2,300.0%	$16.8M	$700K	+2,300.0%
Contract with Customer, Liability, Current	$15.4M	$700K	+2,100.0%	$15.4M	$700K	+2,100.0%
Contract with Customer, Liability, Noncurrent	$1.4M	$0	–	$1.4M	$0	–
Contract with Customer, Liability, Revenue Recognized	–	–	–	$200K	$100K	+100.0%
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization	$510M	$302M	+69.1%	$1.68B	$1.1B	+52.4%
Cost, Amortization	$19.2M	$19.3M	-0.5%	$77.6M	$82.2M	-5.6%
Current Federal Tax Expense (Benefit)	–	–	–	$200K	-$8.4M	+102.4%
Current Foreign Tax Expense (Benefit)	–	–	–	$55.5M	$55.5M	0.0%
Current State and Local Tax Expense (Benefit)	–	–	–	$1.4M	$1.8M	-22.2%
Debt Instrument, Face Amount	$1.55B	$2.51B	-38.2%	$1.55B	$2.51B	-38.2%
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	–	–	–	$02025-06-28	$0	–
Debt Securities, Available-for-sale	$695M	$356M	+95.0%	$695M	$356M	+95.0%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$100K	$500K	-80.0%	$100K	$500K	-80.0%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$2M	$100K	+1,900.0%	$2M	$100K	+1,900.0%
Debt Securities, Available-for-sale, Amortized Cost	$697M	$356M	+95.7%	$697M	$356M	+95.7%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$449M	$216M	+107.7%	$449M	$216M	+107.7%
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One	$248M	$140M	+77.2%	$248M	$140M	+77.2%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	$02026-03-28	$4.3M	-100.0%	$02025-06-28	$268M	-100.0%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$02026-03-28	$0	–	$02025-06-28	$1.2M	-100.0%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$582M	$139M	+319.5%	$582M	$139M	+319.5%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$2M	$100K	+1,900.0%	$2M	$100K	+1,900.0%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$447M	$216M	+106.6%	$447M	$216M	+106.6%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$248M	$140M	+77.0%	$248M	$140M	+77.0%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-K 2026-06-27, 10-Q 2026-03-28, 10-Q 2025-12-27, 10-Q 2025-09-27, 10-K 2025-06-28, 10-Q 2025-03-29, 10-Q 2024-12-28, 10-Q 2024-09-28, 10-K 2024-06-29

Data as of 2026-11-01