Tearsheet

Lumentum (LITE)

Market Price (9/18/2025): $163.77 | Market Cap: $11.4 Bil
Sector: Information Technology | Industry: Communications Equipment

Lumentum (LITE)

Market Price (9/18/2025): $163.77
Market Cap: $11.4 Bil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%	Trading close to highs Dist 52W High is -4.4%, Dist 3Y High is -4.4%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -192 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12%
1		Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 90x, P/EPrice/Earnings or Price/(Net Income) is 439x
2			Stock price has recently run up significantly 6M Rtn6 month market price return is 143%, 12M Rtn12 month market price return is 180%
3			Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.4%
4			Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.4%
5			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.3%

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
1	Trading close to highs Dist 52W High is -4.4%, Dist 3Y High is -4.4%
2	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 16%
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -192 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -12%
4	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 90x, P/EPrice/Earnings or Price/(Net Income) is 439x
5	Stock price has recently run up significantly 6M Rtn6 month market price return is 143%, 12M Rtn12 month market price return is 180%
6	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.4%
7	Not cash flow generative FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.4%
8	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.3%

Market Valuation

	9/18/25	2024	2023	2022
Share Price CYE	$163.77	$83.95	$52.42	$52.17
Market Cap CYE ($ Bil)	11.4	5.8	3.5	3.6
Total Debt ($ Bil)	2.6	2.6	2.6	2.9
Total Cash ($ Bil)	0.9	0.9	0.9	2.0
Enterprise Value ($ Bil)	13.1	8.4	6.1	6.5
Valuation Ratios
P/S TTM	6.9	3.5	2.6	2.0
P/EBIT TTM	-76.0	-38.6	-9.5	-53.3
P/E TTM	440.1	223.7	-6.5	-27.1
Sector Ratios
P/S TTM (Sector)	3.2	3.1	2.8	2.5
P/EBIT TTM (Sector)	3.9	-0.0	-0.1	-0.5
P/E TTM (Sector)	-0.4	-0.3	-0.4	-0.5

	9/18/25	2024
Share Price CYE	$163.77	$83.95
Market Cap CYE ($ Bil)	11.4	5.8
Total Debt ($ Bil)	2.6	2.6
Total Cash ($ Bil)	0.9	0.9
Enterprise Value ($ Bil)	13.1	8.4
Valuation Ratios
P/S TTM	6.9	3.5
P/EBIT TTM	-76.0	-38.6
P/E TTM	440.1	223.7
Sector Ratios
P/S TTM (Sector)	3.2	3.1
P/EBIT TTM (Sector)	3.9	-0.0
P/E TTM (Sector)	-0.4	-0.3

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates in two segments, Optical Communications (OpComms) and Commercial Lasers (Lasers). Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
LITE Return	20%	12%	-51%	0%	60%	95%	106%
Peers Return	25%	54%	-16%	18%	42%	17%	219%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CSCO, FFIV, ADTN, ANET, MSI. See LITE Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Better Bets than Lumentum (LITE)

	LITE	Better Performance than LITE
Metric	Value	Industry (Communications Equipment)
Rev Chg LTM	21.0%	ANET (26.0%), UI (33.4%), ASTS (249.4%), IDCC (21.8%), AAOI (77.9%)
Rev Chg 3Y Avg	0.4%	CSCO (3.4%), ANET (32.1%), MSI (9.5%), UI (15.8%), ERIC (0.7%)
Op Mgn LTM	-11.7%	CSCO (22.1%), ANET (43.1%), MSI (25.1%), UI (32.5%), ERIC (11.2%)
CFO/Rev LTM	7.7%	CSCO (25.1%), ANET (50.9%), MSI (23.5%), UI (24.9%), ERIC (16.4%)
FCF/Rev LTM	-6.4%	CSCO (23.5%), ANET (50.0%), MSI (21.5%), UI (24.4%), ERIC (15.0%)
Total Yield	0.2%	CSCO (6.2%), ANET (1.8%), MSI (3.5%), UI (2.3%), ERIC (64.9%)

	LITE	Better Performance than LITE
Metric	Value	Sector (Information Technology)
Rev Chg LTM	21.0%	NVDA (71.6%), AVGO (28.0%), PLTR (38.8%), AMD (27.2%), NOW (21.1%)
Rev Chg 3Y Avg	0.4%	NVDA (92.0%), MSFT (12.5%), AAPL (1.8%), AVGO (24.0%), ORCL (10.2%)
Op Mgn LTM	-11.7%	NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), AVGO (39.0%), ORCL (31.6%)
CFO/Rev LTM	7.7%	NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), AVGO (42.4%), ORCL (36.5%)
FCF/Rev LTM	-6.4%	NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), AVGO (41.6%), PLTR (49.7%)
Total Yield	0.2%	NVDA (2.1%), MSFT (3.3%), AAPL (3.2%), AVGO (1.2%), ORCL (2.1%)

	LITE	Better Performance than LITE
Metric	Value	All Other Sectors
Rev Chg LTM	21.0%	LLY (36.8%), APP (48.2%), BSX (21.4%), BX (34.9%), PGR (21.5%)
Rev Chg 3Y Avg	0.4%	GOOGL (10.2%), AMZN (11.3%), META (13.0%), TSLA (12.9%), BRK-B (16.6%)
Op Mgn LTM	-11.7%	GOOGL (32.7%), AMZN (11.4%), META (42.9%), TSLA (6.2%), WMT (4.2%)
CFO/Rev LTM	7.7%	GOOGL (36.0%), AMZN (18.1%), META (56.4%), TSLA (17.0%), LLY (20.5%)
FCF/Rev LTM	-6.4%	GOOGL (18.0%), AMZN (2.0%), META (30.7%), TSLA (6.0%), BRK-B (2.1%)
Total Yield	0.2%	GOOGL (4.1%), AMZN (2.9%), META (3.7%), TSLA (0.4%), BRK-B (5.9%)

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Lumentum Earnings Notes
2	LITE Jumps 13% In A Week: How Does It Stack Against Peers?	Peer Comparison
3	LITE Dip Buy Analysis
4	Lumentum Total Shareholder Return (TSR): 86.1% in 2025 and 6.8% 3-yr compounded annual returns (above peer average)
5	Lumentum (LITE) Operating Cash Flow Comparison	Financials
6	Lumentum (LITE) Net Income Comparison	Financials
7	Lumentum (LITE) Operating Income Comparison	Financials
8	Lumentum (LITE) Revenue Comparison	Financials
9	Lumentum vs. S&P500 Correlation	Correlation
10	Lumentum Price Volatility	Volatility

	Title
0	ARTICLES
1	Lumentum Earnings Notes
2	LITE Jumps 13% In A Week: How Does It Stack Against Peers?
3	LITE Dip Buy Analysis
4	Lumentum Total Shareholder Return (TSR): 86.1% in 2025 and 6.8% 3-yr compounded annual returns (above peer average)
5	Lumentum (LITE) Operating Cash Flow Comparison
6	Lumentum (LITE) Net Income Comparison
7	Lumentum (LITE) Operating Income Comparison
8	Lumentum (LITE) Revenue Comparison
9	Lumentum vs. S&P500 Correlation
10	Lumentum Price Volatility

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	ECDA	ECD Automotive Design	3937.1%	307.9%
2	ATHA	Athira Pharma	890.3%	544.3%
3	SPRC	SciSparc	142.9%	1141.7%
4	ATCH	AtlasClear	87.4%	-83.1%
5	GV	Visionary	68.2%	14.8%
6	APLM	Apollomics	51.3%	89.1%
7	SQFT	Presidio Property Trust	46.3%	11.0%
8	CDT	CDT Equity	40.1%	-99.1%
9	EDUC	Educational Development	31.8%	9.1%
10	ILLR	Triller	29.8%	-37.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	CURX	Curanex Pharmaceuticals	-83.5%	148.4%
2	CODX	Co-Diagnostics	-34.7%	-44.4%
3	BOXL	Boxlight	-34.5%	-13.5%
4	OPI	Office Properties Income Trust	-31.8%	-40.9%
5	BIAF	bioAffinity Technologies	-30.0%	-79.9%
6	ENVB	Enveric Biosciences	-29.3%	-88.0%
7	KAVL	Kaival Brands Innovations	-27.3%	-46.7%
8	AEI	Alset	-25.5%	211.8%
9	INBS	Intelligent Bio Solutions	-25.0%	0.7%
10	LVRO	Lavoro	-23.0%	-67.2%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	ECDA	ECD Automotive Design	3347.2%	307.9%
2	BDSX	Biodesix	1090.6%	-79.7%
3	CLSD	Clearside Biomedical	987.7%	-74.7%
4	ATHA	Athira Pharma	892.1%	544.3%
5	SDOT	Sadot	690.6%	-79.9%
6	ATCH	AtlasClear	684.9%	-83.1%
7	HSDT	Helius Medical Technologies	232.1%	-95.5%
8	CHEK	Check-Cap	222.2%	134.4%
9	APLM	Apollomics	197.8%	89.1%
10	SPRC	SciSparc	147.0%	1141.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	CURX	Curanex Pharmaceuticals	-80.5%	148.4%
2	ATYR	aTyr Pharma	-80.4%	-71.7%
3	NAKA	Kindly MD	-70.2%
4	BNGO	Bionano Genomics	-64.0%	-89.8%
5	XAGE	Longevity Health	-57.6%	-86.1%
6	FAAS	DigiAsia	-55.4%	-88.0%
7	ASST	Strive	-54.5%	650.3%
8	VCIG	VCI Global	-51.0%	-98.9%
9	REX	REX American Resources	-50.7%	44.3%
10	RBNE	Robin Energy	-42.6%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	11931.7%	11931.7%
2	GIBO	GIBO	10714.0%
3	LNZA	LanzaTech Global	8455.2%	-86.3%
4	GTI	Graphjet Technology	3998.4%	-93.1%
5	GWAV	Greenwave Technology Solutions	3582.8%	-91.4%
6	QMMM	QMMM	3409.6%	8153.1%
7	ECDA	ECD Automotive Design	2715.2%	307.9%
8	OESX	Orion Energy Systems	1373.7%	14.2%
9	OP	OceanPal	1266.5%	-95.6%
10	BCTX	BriaCell Therapeutics	1032.4%	-89.8%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	CJET	Chijet Motor	-94.5%	-96.0%
2	STFS	Star Fashion Culture	-92.3%	-97.9%
3	ELPW	Elong Power	-91.1%	-76.9%
4	NXTT	Next Technology	-90.1%	-95.4%
5	EPIX	ESSA Pharma	-89.4%	-8.9%
6	NAKA	Kindly MD	-88.1%
7	BINI	Bollinger Innovations	-87.6%	-100.0%
8	JEM	707 Cayman	-87.4%	-98.2%
9	YAAS	Youxin Technology	-83.3%	-98.4%
10	NEON	Neonode	-82.5%	-51.0%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	ECDA	ECD Automotive Design	3937.1%	307.9%
2	ATHA	Athira Pharma	890.3%	544.3%
3	SPRC	SciSparc	142.9%	1141.7%
4	ATCH	AtlasClear	87.4%	-83.1%
5	GV	Visionary	68.2%	14.8%
6	APLM	Apollomics	51.3%	89.1%
7	SQFT	Presidio Property Trust	46.3%	11.0%
8	CDT	CDT Equity	40.1%	-99.1%
9	EDUC	Educational Development	31.8%	9.1%
10	ILLR	Triller	29.8%	-37.8%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	CURX	Curanex Pharmaceuticals	-83.5%	148.4%
2	CODX	Co-Diagnostics	-34.7%	-44.4%
3	BOXL	Boxlight	-34.5%	-13.5%
4	OPI	Office Properties Income Trust	-31.8%	-40.9%
5	BIAF	bioAffinity Technologies	-30.0%	-79.9%
6	ENVB	Enveric Biosciences	-29.3%	-88.0%
7	KAVL	Kaival Brands Innovations	-27.3%	-46.7%
8	AEI	Alset	-25.5%	211.8%
9	INBS	Intelligent Bio Solutions	-25.0%	0.7%
10	LVRO	Lavoro	-23.0%	-67.2%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	ECDA	ECD Automotive Design	3347.2%	307.9%
2	BDSX	Biodesix	1090.6%	-79.7%
3	CLSD	Clearside Biomedical	987.7%	-74.7%
4	ATHA	Athira Pharma	892.1%	544.3%
5	SDOT	Sadot	690.6%	-79.9%
6	ATCH	AtlasClear	684.9%	-83.1%
7	HSDT	Helius Medical Technologies	232.1%	-95.5%
8	CHEK	Check-Cap	222.2%	134.4%
9	APLM	Apollomics	197.8%	89.1%
10	SPRC	SciSparc	147.0%	1141.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	CURX	Curanex Pharmaceuticals	-80.5%	148.4%
2	ATYR	aTyr Pharma	-80.4%	-71.7%
3	NAKA	Kindly MD	-70.2%
4	BNGO	Bionano Genomics	-64.0%	-89.8%
5	XAGE	Longevity Health	-57.6%	-86.1%
6	FAAS	DigiAsia	-55.4%	-88.0%
7	ASST	Strive	-54.5%	650.3%
8	VCIG	VCI Global	-51.0%	-98.9%
9	REX	REX American Resources	-50.7%	44.3%
10	RBNE	Robin Energy	-42.6%

Peer Comparisons for Lumentum

Financials

	LITE	CSCO	FFIV	ADTN	ANET	MSI	Median
Name	Lumentum	Cisco Sy.	F5	Adtran	Arista N.	Motorola.
Mkt Price	163.34	67.72	323.81	8.77	142.84	477.85	153.09
Mkt Cap	11.4	268.2	18.7	0.7	179.4	79.7	49.2
Rev LTM	1,645	56,654	3,025	983	7,951	11,094	5,488
Op Inc LTM	-192	12,504	763	-62	3,430	2,785	1,774
FCF LTM	-105	13,288	955	54	3,975	2,384	1,669
FCF 3Y Avg	-55	14,178	741	-20	2,540	2,047	1,394
CFO LTM	126	14,193	988	121	4,047	2,612	1,800
CFO 3Y Avg	110	14,986	781	33	2,586	2,293	1,537

Growth & Margins

	LITE	CSCO	FFIV	ADTN	ANET	MSI	Median
Name	Lumentum	Cisco Sy.	F5	Adtran	Arista N.	Motorola.
Rev Chg LTM	21.0%	5.3%	8.9%	3.5%	26.0%	6.4%	7.7%
Rev Chg 3Y Avg	0.4%	3.4%	4.2%	30.7%	32.1%	9.5%	6.9%
Rev Chg Q	55.9%	7.6%	12.2%	17.3%	30.4%	5.2%	14.7%
QoQ Delta Rev Chg LTM	11.7%	1.9%	2.9%	4.1%	6.9%	1.3%	3.5%
Op Mgn LTM	-11.7%	22.1%	25.2%	-6.3%	43.1%	25.1%	23.6%
Op Mgn 3Y Avg	-14.4%	24.5%	21.8%	-12.3%	40.2%	23.8%	22.8%
QoQ Delta Op Mgn LTM	7.7%	0.3%	0.4%	2.9%	0.9%	0.1%	0.6%
CFO/Rev LTM	7.7%	25.1%	32.7%	12.3%	50.9%	23.5%	24.3%
CFO/Rev 3Y Avg	6.6%	26.7%	27.1%	4.1%	37.6%	21.9%	24.3%
FCF/Rev LTM	-6.4%	23.5%	31.6%	5.5%	50.0%	21.5%	22.5%
FCF/Rev 3Y Avg	-3.9%	25.3%	25.7%	-1.0%	36.9%	19.6%	22.4%

Valuation

	LITE	CSCO	FFIV	ADTN	ANET	MSI	Median
Name	Lumentum	Cisco Sy.	F5	Adtran	Arista N.	Motorola.
Mkt Cap	11.4	268.2	18.7	0.7	179.4	79.7	49.2
P/S	6.9	4.7	6.2	0.7	22.6	7.2	6.5
P/EBIT	-75.8	21.1	24.5	-10.9	52.3	26.6	22.8
P/E	438.9	26.3	28.0	-5.9	55.2	37.7	32.9
P/CFO	90.0	18.9	18.9	5.8	44.3	30.5	24.7
Total Yield	0.2%	6.2%	3.6%	-16.9%	1.8%	3.5%	2.7%
Dividend Yield	0.0%	2.4%	0.0%	0.0%	0.0%	0.9%	0.0%
FCF Yield 3Y Avg	-1.2%	6.4%	6.3%	-2.3%	2.5%	3.3%	2.9%
D/E	0.2	0.1	0.0	0.3	0.0	0.1	0.1
Net D/E	0.2	0.0	-0.1	0.2	-0.0	0.1	0.1

Returns

	LITE	CSCO	FFIV	ADTN	ANET	MSI	Median
Name	Lumentum	Cisco Sy.	F5	Adtran	Arista N.	Motorola.
1M Rtn	37.3%	1.2%	2.4%	-0.7%	3.5%	3.8%	2.9%
3M Rtn	84.6%	2.9%	13.0%	10.5%	58.3%	18.3%	15.7%
6M Rtn	143.2%	11.5%	19.8%	-2.6%	69.2%	13.2%	16.5%
12M Rtn	179.8%	36.7%	50.9%	56.6%	58.3%	10.0%	53.7%
3Y Rtn	117.8%	70.3%	117.5%	-51.3%	393.7%	106.6%	112.0%
1M Excs Rtn	34.9%	-1.2%	0.0%	-3.0%	1.1%	1.5%	0.6%
3M Excs Rtn	78.8%	-6.7%	1.9%	2.1%	49.0%	7.5%	4.8%
6M Excs Rtn	130.4%	-4.5%	4.7%	-20.4%	52.5%	-3.7%	0.5%
12M Excs Rtn	175.5%	21.6%	36.6%	43.9%	41.5%	-8.1%	39.1%
3Y Excs Rtn	38.4%	-1.7%	38.0%	-115.9%	297.4%	35.0%	36.5%

Comparison Analyses

	Title
0	LITE Jumps 13% In A Week: How Does It Stack Against Peers?
1	LITE Could Deliver 39% Returns And Outperform JNPR
2	Lumentum Holdings vs. F5: With Return Forecast Of 52%, Lumentum Holdings Is A Better Bet
3	Lumentum Holdings vs. Ciena: With Return Forecast Of 52%, Lumentum Holdings Is A Better Bet
4	LITE Looks Stronger Than VSAT With 39% Return Potential
5	LITE Looks Stronger Than CSCO With 39% Return Potential
6	Lumentum Holdings vs. Veeva Systems: Similar Revenue, But Veeva Systems Is A Better Bet
7	Lumentum Holdings vs. Heico: Similar Revenue, But Lumentum Holdings Is A Better Bet
8	Lumentum Holdings vs. CoStar Group: Similar Revenue, But CoStar Group Is A Better Bet
9	Lumentum Holdings vs. Planet Fitness: Similar Market Cap, But Planet Fitness Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 6/28	LTM	2025	2024	2023	2022	2021	2020
Period End	6/28/2025	6/28/2025	6/29/2024	7/1/2023	7/2/2022	7/3/2021	6/27/2020
Filing Date	8/19/2025	8/19/2025	8/21/2024	8/23/2023	8/24/2022	8/31/2021	8/25/2020
Key Financials
Total Revenue	1,645	1,645	1,359	1,767	1,713	1,743	1,679
EBITDA	107	107	-82	189	482	707	427
Operating Income	-192	-192	-361	-88	302	327	216
Net Income	26	26	-546	-132	199	397	136
EPS	0.33	0.38	-8.12	-1.93	2.79	5.27	1.79
Growth Rates
Total Revenue Growth	21.0%	21.0%	-23.1%	3.2%	-1.7%	3.8%	7.2%
EBITDA Growth	230.9%	230.9%	-143.2%	-60.9%	-31.8%	65.4%	166.3%
Operating Income Growth	46.8%	46.8%	-312.6%	-129.0%	-7.6%	51.2%	427.8%
Net Income Growth	104.7%	104.7%	-315.3%	-166.2%	-49.9%	193.2%	472.3%
Margins
EBITDA Margin	6.5%	6.5%	-6.0%	10.7%	28.2%	40.6%	25.5%
Operating Income Margin	-11.7%	-11.7%	-26.6%	-5.0%	17.6%	18.8%	12.9%
Net Income Margin	1.6%	1.6%	-40.2%	-7.4%	11.6%	22.8%	8.1%
Cash & Debt
Total Cash	877	877	887	2,014	2,549	1,946	1,554
Total Debt	2,608	2,608	2,560	2,874	1,936	1,240	1,189
Net Debt / (Cash)	1,731	1,731	1,673	860	-613	-706	-364
Cash Flows
Net Cash from Operations	126	126	25	180	459	739	524
Free Cash from Operations	-105	-105	-111	51	368	654	438
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	176	544	236	200

$ Mil \| FY: 6/28	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	6/28/2025	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Filing Date	8/19/2025	5/7/2025	2/6/2025	11/8/2024	8/21/2024	5/7/2024	2/8/2024	11/8/2023	8/23/2023	5/9/2023	2/9/2023	11/8/2022
Key Financials Quarterly
Total Revenue	481	425	402	337	308	366	367	318	371	383	506	507
Ebitda	55	27	28	-3	-23	-29	-27	-2	43	18	44	84
Operating Income	-3	-65	-51	-73	-97	-95	-99	-70	-53	-50	-8	23
Net Income	213	-44	-61	-82	-252	-127	-99	-68	-60	-39	-32	-0
EPS	3.06	-0.64	-0.88	-1.21	-3.72	-1.88	-1.47	-1.02	-0.88	-0.57	-0.46	-0.01
Key Financials TTM
Total Revenue TTM	1,645	1,473	1,414	1,378	1,359	1,422	1,439	1,578	1,767	1,818	1,830	1,771
Ebitda TTM	107	29	-27	-82	-82	-16	31	102	189	251	324	408
Operating Income TTM	-192	-286	-316	-364	-361	-317	-272	-180	-88	20	117	210
Net Income TTM	26	-440	-523	-561	-546	-354	-266	-199	-132	-37	29	117
Growth Rates Quarterly
Total Revenue Growth	55.9%	16.0%	9.7%	6.1%	-16.9%	-4.4%	-27.5%	-37.3%	-12.2%	-3.0%	13.3%	13.0%
EBITDA Growth	340.6%	190.8%	204.4%	-29.2%	-153.6%	-265.5%	-160.9%	-102.9%	-59.4%	-80.5%	-65.5%	-46.9%
Operating Income Growth	96.7%	31.4%	48.8%	-4.2%	-84.0%	-91.6%	-1142.5%	-406.1%	-194.9%	-206.6%	-109.4%	-80.1%
Net Income Growth	184.5%	65.3%	38.5%	-21.4%	-319.4%	-223.2%	-212.6%	-16875.0%	-273.5%	-251.2%	-155.9%	-100.5%
Margins Quarterly
EBITDA Margin	11.5%	6.3%	7.0%	-0.9%	-7.4%	-8.0%	-7.4%	-0.8%	11.5%	4.6%	8.8%	16.6%
Operating Income Margin	-0.7%	-15.4%	-12.7%	-21.6%	-31.4%	-26.0%	-27.1%	-22.0%	-14.2%	-13.0%	-1.6%	4.5%
Net Income Margin	44.4%	-10.4%	-15.1%	-24.5%	-81.9%	-34.7%	-27.0%	-21.4%	-16.2%	-10.3%	-6.3%	-0.1%
Cash & Debt
Total Cash	877	867	897	916	887	871	1,224	1,944	2,014	1,667	1,680	1,625
Total Debt	2,608	2,610	2,608	2,622	2,560	2,564	2,889	2,870	2,874	2,394	2,392	2,391
Net Debt / (Cash)	1,731	1,743	1,712	1,706	1,673	1,693	1,665	925	860	727	712	766
Cash Flows Quarterly
FCF from Operations	64	-2	24	40	36	-7	-2	-2	49	15	95	21
Cash Flows TTM
FCF from Operations TTM	126	98	92	67	25	38	60	157	180	245	307	418
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	140	-0	-0	36
Return on Invested Capital (ROIC) Quarterly
ROIC	-0.3%	-7.1%	-5.6%	-8.1%	-11.0%	-10.9%	-11.3%	-10.3%	-8.2%	-6.7%	-1.4%	3.9%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-5.2%	-7.7%	-8.7%	-10.2%	-10.3%	-9.1%	-7.9%	-6.8%	-3.4%	0.8%	2.4%	6.7%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Cloud & Networking	1,085	1,322
Industrial Tech	274	444
Lasers			194	122	164
Optical Communications(OpComms)			1,518	1,621	1,515
Total	1,359	1,767	1,713	1,743	1,679

Operating Income by Segment

$ Mil	2025	2024
Cloud & Networking	124	313
Industrial Tech	25	153
Gain on sale of assets, net	0	0
Intangible asset write-off	0	-21
Litigation matters	0	-8
Stock-based compensation - acquisition related	0	-12
Amortization of acquired inventory fair value adjustments	-8	-18
Acquisition related costs	-13	-12
Abnormal excess capacity	-21	0
Integration related costs	-37	-29
Other charges, net	-40	-64
Restructuring and related charges	-73	-28
Selling, general and administrative	-112	-127
Stock-based compensation	-129	-136
Amortization of acquired intangibles	-151	-128
Total	-434	-116

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$163.34
Market Cap ($ Bil)	11.4
First Trading Date	08/04/2015
Distance from 52W High	-4.4%
	50 Days	200 Days
DMA Price	$121.12	$87.69
DMA Trend	up	up
Distance from DMA	34.9%	86.3%
	3M	1YR
Volatility	42.9%	65.7%
Downside Capture	-88.74	202.73
Upside Capture	294.10	274.28
Correlation (SPY)	38.2%	67.0%

LITE Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.28	1.85	1.68	2.09	2.27	1.83
Up Beta	2.49	3.06	2.54	1.98	1.94	1.67
Down Beta	2.86	2.63	2.57	2.62	2.65	1.98
Up Capture	322%	276%	301%	359%	746%	1079%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	14	28	43	73	136	381
Down Capture	45%	-154%	-133%	130%	145%	108%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	7	13	19	52	112	367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	8292025
Short Interest: Shares Quantity	11,258,836
Short Interest: % Change Since 8152025	2.1%
Average Daily Volume	3,205,804
Days-to-Cover Short Interest	3.51
Basic Shares Quantity	69,600,000
Short % of Basic Shares	16.2%

Returns Analyses

	Title
0	Lumentum Stock Return Comparison
1	[9/30/2021] Lumentum Holdings (LITE) Stock Price Forecast: AI Forecasts LITE Stock Price To Be Around $87.4 In A Month (Up 4.6%)
2	Lumentum Total Shareholder Return (TSR): 7.7% in 2022 and 16.9% 3-yr returns (above peer average)
3	Lumentum Holdings (LITE) Stock Return: AI Predicts LITE Average and Excess Return After a Fall or Rise

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/12/2025	0.5%	-1.4%	37.8%
5/6/2025	2.8%	15.7%	26.7%
2/3/2025	2.4%	-2.8%	-20.1%
11/7/2024	13.9%	15.6%	21.9%
8/14/2024	14.8%	23.9%	22.5%
5/6/2024	-6.1%	-0.2%	2.9%
2/8/2024	-22.4%	-15.6%	-18.9%
10/30/2023	10.3%	18.5%	17.3%
...
SUMMARY STATS
# Positive	13	13	13
# Negative	11	11	11
Median Positive	4.7%	13.6%	10.3%
Median Negative	-6.9%	-4.8%	-15.7%
Max Positive	14.8%	23.9%	37.8%
Max Negative	-22.4%	-19.6%	-26.5%

	Forward Returns
8/12/2025	0.5%	-1.4%	37.8%
5/6/2025	2.8%	15.7%	26.7%
2/3/2025	2.4%	-2.8%	-20.1%
11/7/2024	13.9%	15.6%	21.9%
8/14/2024	14.8%	23.9%	22.5%
5/6/2024	-6.1%	-0.2%	2.9%
2/8/2024	-22.4%	-15.6%	-18.9%
10/30/2023	10.3%	18.5%	17.3%
8/17/2023	-1.3%	13.6%	3.1%
5/9/2023	-4.0%	-5.8%	6.1%
2/9/2023	-1.4%	-2.0%	-15.7%
11/8/2022	-16.2%	-19.6%	-26.5%
8/16/2022	-6.9%	-4.8%	-18.0%
5/4/2022	9.0%	8.8%	7.2%
2/3/2022	-14.4%	-3.1%	-7.5%
11/4/2021	1.8%	5.2%	-1.0%
8/18/2021	1.8%	8.1%	7.8%
5/12/2021	-16.9%	-9.1%	-1.0%
1/19/2021	-11.0%	-7.0%	-12.8%
11/2/2020	-1.5%	7.2%	5.2%
8/11/2020	2.1%	2.6%	-17.5%
5/5/2020	4.7%	3.1%	-0.3%
2/4/2020	12.0%	15.2%	10.3%
10/31/2019	9.5%	14.4%	28.8%
SUMMARY STATS
# Positive	13	13	13
# Negative	11	11	11
Median Positive	4.7%	13.6%	10.3%
Median Negative	-6.9%	-4.8%	-15.7%
Max Positive	14.8%	23.9%	37.8%
Max Negative	-22.4%	-19.6%	-26.5%

SEC Filings

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Report Date	Filing Date	Filing
6302025	8192025	10-K 6/28/2025
3312025	5072025	10-Q 3/29/2025
12312024	2062025	10-Q 12/28/2024
9302024	11082024	10-Q 9/28/2024
6302024	8212024	10-K 6/29/2024
3312024	5072024	10-Q 3/30/2024
12312023	2082024	10-Q 12/30/2023
9302023	11082023	10-Q 9/30/2023
6302023	8232023	10-K 7/1/2023
3312023	5092023	10-Q 4/1/2023
12312022	2092023	10-Q 12/31/2022
9302022	11082022	10-Q 10/1/2022
6302022	8242022	10-K 7/2/2022
3312022	5042022	10-Q 4/2/2022
12312021	2032022	10-Q 1/1/2022
9302021	11042021	10-Q 10/2/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Wupen Yuen	PRESIDENT, CLOUD & NETWORKING	8282025	Sell	124.39	3,282	408,248	13,005,472	Form
1	Ali Wajid	EVP & CHIEF FINANCIAL OFFICER	8282025	Sell	124.39	2,526	314,209	9,588,852	Form
2	Kim Jae	SVP, GENERAL COUNSEL	8262025	Sell	116.73	3,407	397,690	4,034,683	Form
3	Johnson Julia Suzanne		8202025	Sell	119.06	1,250	148,828	2,623,774	Form
4	Wupen Yuen	PRESIDENT, CLOUD & NETWORKING	8082025	Sell	108.34	241	26,110	8,515,199	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Lumentum (LITE)

Market Price (9/18/2025): $163.77 | Market Cap: $11.4 BilSector: Information Technology | Industry: Communications Equipment

Lumentum (LITE)

Market Price (9/18/2025): $163.77Market Cap: $11.4 BilSector: Information TechnologyIndustry: Communications Equipment

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Market Price (9/18/2025): $163.77 | Market Cap: $11.4 Bil
Sector: Information Technology | Industry: Communications Equipment

Market Price (9/18/2025): $163.77
Market Cap: $11.4 Bil
Sector: Information Technology
Industry: Communications Equipment