Lumentum Holdings Inc. (LITE)

NASDAQ: LITE · USD

$914

+47.72 (+5.5%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-05-20

Our latest published analysis: LITE rated Reduce

Lumentum Holdings Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$725 / share

Potential value

$1,070 / share

Upside to FV

-15.9%

from $914

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$67.0B
Revenue (ttm)	3B
Net income (ttm)	-6.9B
EPS (ttm)	-$93.0
Shares out	90.6M
P/E (forward)	47.6x
Volume	4,201,765
Beta	1.54

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 3B
Net income (ttm): -6.9B
EPS (ttm): -$93.0
P/E (forward): 47.6x
Market cap: $67.0B

Item	P1	P2	P3	P4	Trend
Period	2022-06-30	2023-06-30	2024-06-30	2025-06-30	Trend
Revenue	$1.71B	$1.77B	$1.36B	$1.65B	-1.3%
Gross profit	$788.6M	$569.0M	$251.5M	$459.9M	-16.5%
Operating income	$315.3M	$-66.9M	$-371.9M	$-149.9M	—
Net income	$198.9M	$-131.6M	$-546.5M	$25.9M	-49.3%
EPS (diluted)	$2.68	$-1.93	$-8.12	$0.37	-48.3%
EBITDA	$482.4M	$188.7M	$-81.6M	$106.8M	-39.5%
R&D	$220.7M	$307.8M	$302.2M	$303.9M	+11.3%
SG&A	$265.7M	$348.8M	$310.7M	$348.2M	+9.4%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ARM	Arm Holdings plc	252B	240.8x	48.2x	14.2%	—	+31.0%	売り
ASML	ASML Holding N.V.	647.9B	42.6x	14.2x	92.1%	+17.2%	+57.7%	売り
DDOG	Datadog, Inc.	100B	567.7x	25.6x	2.9%	+39.0%	+75.6%	売り
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	売り
ACN	Accenture plc	144.3B	18.0x	2.0x	27.9%	+8.0%	+0.4%	ホールド
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	強い買い

Base and Bull scenarios

Bull25%

Price target

$1,070.10

+24.2% from spot

AI/ML infrastructure build-out is a prolonged, multi-year supercycle. Lumentum achieves rapid operating leverage, expanding margins beyond historical norms and capturing significant market share.

Sustained 80%+ near-term revenue growth.
Operating margins expand beyond sector median.
Terminal multiple expands above 25x.

Base55%

Price target

$724.80

-15.9% from spot

Lumentum captures expected AI/ML demand, achieving projected revenue acceleration and margin expansion before normalizing to a standard infrastructure provider growth rate.

Year 1-2 Revenue Growth hits 85.3%.
Operating Margin inflects to 15%.
Terminal P/E settles at 25x.

Sensitivity: Ke × terminal growth

The highlighted base cell is anchored to valuation synthesis sensitivity reference ($692.15). It is the reference value for this grid, not a separate standalone fair-value claim.

Ke ↓ / g →	2.0%	2.5%	3.0%	3.5%	4.0%
8.8%	$795	$858	$932	$1,021	$1,128
9.8%	$692	$740	$795	$858	$932
10.8%	$613	$650	$692	$740	$795
11.8%	$550	$580	$613	$650	$692
12.8%	$499	$524	$550	$580	$613

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E47.6

P25 n/aP50 n/aP75 n/a

Trailing P/E151.2

P25 n/aP50 n/aP75 n/a

ROE-240

P25 n/aP50 n/aP75 n/a

ROIC16

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All LITE indicators

Market & fundamental data

Available fields

247

Groups with data

Currency

USD

Showing 247 of 247 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001633978
Company name	Lumentum Holdings Inc.
Country	United States
Country code	US
CUSIP number	55024U109
Earnings date	2026-11-05
Earnings time	amc
Employees	13,757
Employees change	3,195
Employees growth	30.25%
Enterprise value	$81.7B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-27
First seen	2026-05-09
Fiscal year end	June
Founded	2015
In index	SP500, NASDAQ100
Industry	Communication Equipment
Is primary listing	Yes
Is SPAC	No
ISIN number	US55024U1097
Last 10-K release date	2026-08-17
Last earnings date	2026-08-11
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$82.8B
Market cap category	Large-Cap
Next earnings date	2026-11-05
Options	Yes
Price	$913.87
Price currency	USD
Sector	Technology
SIC code	3669
Stock price date	2026-10-28
Symbol	LITE
U.S. state	California
Website	https://www.lumentum.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	109.18x
Earnings yield	-10.17%
EV/EBIT	152.49x
EV/EBITDA	102.11x
EV/FCF	272.45x
EV/Sales	27.13x
FCF / EV yield	0.37%
FCF yield	0.36%
Forward EV/Sales	12.89x
Forward P/E	41.93x
Forward P/S	13.06x
Industry forward P/E	21.77x
Industry P/E	40.95x
P/(FCF - SBC) ratio	637.64x
P/(OCF - SBC) ratio	142.52x
P/B ratio	16.53x
P/FCF ratio	276.01x
P/OCF ratio	110.23x
P/S ratio	27.48x
PEG ratio	0.34x
Price / tangible book value	25.5x
Price/EBITDA ratio	103.45x
Sector forward P/E	18.86x
Sector P/E	32.77x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	17.79%
EBITDA margin	26.57%
FCF margin	9.96%
Gross margin	44.24%
Operating margin	17.79%
Pretax margin	-237.98%
Profit margin	-230.1%
Profit per employee	$-504,114
Revenue per employee	$219,088
ROA	5.82%
ROA (5Y)	0.41%
ROCE	11.11%
ROE	-240.03%
ROE (5Y)	-56.52%
ROIC	16.03%
ROIC (5Y)	2.64%
SBC / revenue	5.65%
Tax / revenue	-7.89%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth years	0
FCF growth (Q)	1,842.57%
FCF growth (QoQ)	148.04%
FCF growth 3Y	80.18%
FCF growth 5Y	-14.16%
Gross profit growth	145.99%
Gross profit growth (Q)	177.06%
Gross profit growth 3Y	25.71%
Gross profit growth 5Y	9.42%
Net income growth years	0
OCF growth	494.93%
OCF growth (Q)	467.19%
OCF growth (QoQ)	78.12%
OCF growth 10Y	24.12%
OCF growth 3Y	61.07%
OCF growth 5Y	0.34%
Operating income growth 5Y	10.02%
Revenue growth	83.22%
Revenue growth (Q)	109.34%
Revenue growth (QoQ)	24.48%
Revenue growth 10Y	12.81%
Revenue growth 3Y	19.48%
Revenue growth 5Y	11.58%
Revenue growth quarters	8
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-451.3M
Depreciation and amortization	$264.5M
EBIT	$536.2M
EBITDA	$800.7M
EPS	$-92.96
FCF per share	$3.31
Financing cash flow	$1.6B
Free cash flow	$300.1M
Free cash flow minus SBC	$129.9M
Gross profit	$1.3B
Income taxes	$-237.7M
Investing cash flow	$-785.5M
Net borrowing	$-74.5M
Net cash flow	$1.5B
Net income	$-6.9B
Operating cash flow minus SBC	$581.2M
Operating income	$536.2M
Revenue	$3B
Stock-based compensation	$170.2M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	6.81
Book value per share	$52.41
Debt / EBITDA	2.05
Debt / equity	0.36
Debt / FCF	5.57
Goodwill	$1.1B
Interest coverage	24.6
Long-term assets	$3.1B
Long-term liabilities	$183.1M
Net cash (debt)	$1.1B
Net cash / market cap	1.29%
Net debt / EBITDA	-1.33
Net debt / equity	-0.23
Net debt / FCF	-3.56
Piotroski F-Score	6
Property, plant and equipment	$1.2B
Shareholders' equity	$4.6B
Tangible book value	$3.2B
Tangible book value per share	$36.66
Total assets	$7.3B
Total cash	$2.7B
Total debt	$1.7B
Total liabilities	$2.7B
WACC	12.47%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.52
Current assets	$4.2B
Current liabilities	$2.5B
Current ratio	1.68
Inventory turnover	2.89
Net working capital	$553.4M
Quick ratio	1.32
Working capital	$1.7B
Working capital turnover	2.01

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-7.18%
Dividend yield	0%
Shareholder yield	-7.18%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	2,255.96%
10Y return CAGR	37.16%
10Y total return	2,255.96%
150-day SMA	$873.21
1D price change	5.51%
1M price change	-2.67%
1M total return	-2.67%
1W price change	11.42%
1W total return	11.42%
1Y price change	372.9%
1Y return CAGR	373.4%
1Y total return	372.9%
20-day SMA	$940.49
200-day SMA	$795.85
3M price change	28.73%
3M total return	28.73%
3Y price change	2,440.81%
3Y return CAGR	193.91%
3Y total return	2,440.81%
50-day SMA	$921.89
50-day SMA vs 200-day SMA	50over200
52-week high	$1,143.00
52-week high date	2026-10-09
52-week low	$184.20
52-week low date	2025-11-04
5Y price change	1,035.65%
5Y return CAGR	62.58%
5Y total return	1,035.65%
6M price change	6.61%
6M total return	6.61%
After-hours change	0.12%
After-hours close	$913.87
After-hours price	$915.00
All-time high	$1,143.00
All-time high date	2026-10-09
All-time low	$13.97
All-time low date	2015-10-19
Average true range (ATR)	$69.17
Average volume	4.9M
Beta (1Y)	1.77
Beta (2Y)	2.26
Beta (5Y)	1.54
Change from 52-week high	-20.05%
Change from 52-week low	396.13%
Change from all-time high	-19.82%
Change from all-time low	6,460.27%
Change from open	4.18%
Day's gap	1.28%
Dollar volume	$3.8B
High price	$920.61
Low price	$873.00
Monthly RSI	75.92
Open price	$877.23
Position in 52-week range	85.84%
Premarket change	1.47%
Premarket close	$866.18
Premarket price	$878.90
Premarket volume	171.1K
Previous close	$866.18
Price vs 150-day SMA	4.95%
Price vs 20-day SMA	-2.55%
Price vs 200-day SMA	15.16%
Price vs 50-day SMA	-0.59%
Relative volume	0.85
RSI	51.26
Sharpe ratio	2.02
Sharpe ratio (3Y)	1.73
Sharpe ratio (5Y)	1
Sortino ratio	3.29
Sortino ratio (3Y)	2.74
Sortino ratio (5Y)	1.59
Volume	4.2M
Weekly RSI	54.14
YTD price change	148.64%
YTD total return	148.64%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	90.1M
Float percentage	99.49%
Shares change (QoQ)	-12.06%
Shares change (YoY)	7.18%
Shares held by insiders	0.41%
Shares held by institutions	93.43%
Shares outstanding	90.6M
Short % of float	8.26%
Short % of shares	8.22%
Short ratio	1.7 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	817

Deeper analysis on LITE

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this LITE report

What is the latest published LITE stock rating?

Lumentum Holdings Inc. is shown with Reduce in the latest published report, analyzed 2026-05-20. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full LITE analysis?

The full latest published report, analyzed 2026-05-20, lives at /stocks/LITE/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for LITE?

The latest published report analyzed 2026-05-20 gives LITE a fair value of USD 725 and a potential value of USD 1,070. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the LITE page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-05-20). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceLITE · Fair value $725-15.9%

Read full analysis →

Lumentum Holdings Inc. (LITE)

Our latest published analysis: LITE rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · LITE

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All LITE indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on LITE

Frequently asked questions

レーティング履歴

Category	Score	Reading
Valuation	3.0
Management	6.9
Balance Sheet	5.0
Profitability	6.5
Revenue Growth	9.0
Risk Assessment	5.0
Competitive Moat	6.5
Earnings Quality	7.5
Capital Efficiency	2.5