Lumentum Holdings (LITE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Lumentum Holdings

NasdaqGS•Technology•Communication Equipment

$835.03-92.00(-0.10%)After hours

Market Cap

$69.45B

P/S

23.0x

P/B

15.0x

Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It offers component products, including semiconductor laser chips, laser sub-assemblies, line subsystems, and wavelength management systems. The company also offers system products, such as optical modules, optical circuit switches, and industrial lasers, including short-pulse solid-state lasers and kilowatt-class fiber lasers. Its products and solutions are used in cloud, artificial intelligence and machine learning (AI/ML), telecommunications, consumer, and industrial end-market applications. The company was incorporated in 2015 and is headquartered in San Jose, California.

How this company scores

GoodMetricSide Score: 69/100

Strongest: Growth (22/25); weakest: Profitability (11/25).

Profitability11/25

Growth22/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality15/25

Strengths

Growing revenueRising earningsLow leverageProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 114.2x5y range 15.1x – 254.3x

Currently above its 10-quarter median.

P/S · 23.0x5y range 1.9x – 23.0x

Currently above its 20-quarter median.

P/B · 15.0x5y range 2.3x – 32.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $69.45B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.01B
Q. Revenue: $1.01B
TTM EBITDA: $524.80M
TTM Op. Income: $524.80M
Q. Op. Income: $279.30M
TTM Net Income: $-6.94B
Q. Net Income: $-7.16B
EPS: $-92.96
Shares Out.: $74.60M

$3.01B in TTM revenue grew 83.2% YoY, reaching $1.01B last quarter. TTM EBITDA of $524.80M and TTM operating income of $524.80M show growth is flowing through to the bottom line. However, net income is negative at $6.94B — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 47.4%
EBITDA Margin: 27.8%
Op. Margin: 27.8%
Net Margin: -711.7%

Op. margin of 27.8% is up 29.5% YoY — cost efficiency is improving. Net margin at -711.7% and gross margin of 47.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 7 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 23.0x
P/B Ratio: 15.0x

P/S of 23.0x and P/B of 15.0x. P/S is high, meaning growth expectations are priced in. Across the last 4 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.31B
Cash: $2.04B
Long-Term Debt: $40.50M
Book Value: $4.64B
D/E Ratio: 0.0
Debt/EBITDA: 0.1

With $7.31B in assets and $40.50M in long-term debt, D/E is 0.0and book value is $4.64B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $363.00M
TTM Free Cash Flow: $300.10M
FCF Margin: 10.0%
FCF / Net Income: -0.0

TTM FCF of $300.10M on $363.00M in operating cash flow. The FCF / Net Income ratio of -0.0x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.