Lumentum Holdings Inc. (LITE)
Information Technology · Communications Equipment · US stock · S&P 500 component
$824.13
▼ -45.41 (5.22%)
Fair valueData under review
$81
$40fair band $48–$113$121
Day's range
$822.00 – $867.41
52-week range
$152.54 – $1,143.00
Red flags⚠ Heavy dilution
About Lumentum Holdings Inc.
Optical and photonic products are the core of Lumentum, which designs and manufactures lasers and the optical components that move data through communication networks. Its products go into cloud data centres, telecom networks and industrial and commercial laser applications. Customers include network equipment makers, cloud and telecom operators and industrial manufacturers. The business is organised around components for cloud and networking on one side and lasers for industrial uses on the other.
Over the last twelve months revenue reached $3.0 billion, earned by supplying optical components and lasers to equipment makers and network operators. Sales have grown at 19.5% a year across the last three years. The operating margin is 17.4%, the business earns 8% on the capital invested in it, and it carries net debt of 1.0 times EBITDA. No dividend is paid. On the site's X-Ray Score it receives 35 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $152.54 – $1,143.00Volume 4,199,900Daily, split-adjusted
Vitals
Market cap$61.5B
52-week range$152.54 – $1,143.00
Volume (last day)4,199,900
P/E (TTM)–
EBIT / EV yield0.8%
Free-cash-flow yield0.5%
Dividend yieldNo dividend
Revenue (TTM)$3.0B
Net income (TTM)−$6.9B
Operating margin17.4%
Return on capital8.0%
Debt incl. leases$3.3B
Cash & securities$2.7B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$81model spread $70 – $83
Data under review
+0.0% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is High, so the safety margin is 40%.
Multiples use through-the-cycle earnings (0.30x of the last twelve months)
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so the fair value range is widened
Earnings are far above the company's own 3-year history, so models would extrapolate a possible peak
Price $824
Undervalued < $48Fair $48 – $113Overvalued > $113
10-year DCF (market-scaled)
$142
Peer multiples
$44
Earnings power floor (not blended)
$-18
Fundamentals-adjusted multiple
$56
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Read the lenses below
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Valuation
Weak
6/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield0.8%
Free-cash-flow yield0.5%
Fair value vs price0.1×
Growth
Strong
75/100
Growing faster than most of its sector.
See the numbers →
Revenue growth (3y)19.5%
Growth consistency80%
Profitability
Weak
36/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital8.0%
Operating margin17.4%
Gross profitability17.2%
Financial health
Weak
32/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA1.0×
Interest cover24.1×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+16.0%
Mar '25
+55.9%
Jun '25
+58.4%
Sep '25
+65.5%
Dec '25
+90.1%
Mar '26
+109.3%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.0B.
Compare with peers
ANET Arista Networks, Inc.62 FFIV F5, Inc.60 MSI Motorola Solutions, In...49 CSCO Cisco Systems, Inc.44Other Communications Equipment companies by X-Ray Score.
Fundamentals checklist
● 3 Good · ● 4 Average · ● 8 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldBad
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
Free-cash-flow growth (3y)Good
Revenue growth (3y)Good
Growth consistencyBad
Balance sheet
Current ratioAverage
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalBad
Operating marginAverage
Gross profitabilityBad
Each check is graded against the company's sector, not a fixed number. Checklist score 40/100.
Financials
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Revenue | $1.7B | $1.8B | $1.4B | $1.6B | $3.0B |
| Operating income | $303M | −$116M | −$434M | −$180M | $525M |
| Net income | $199M | −$132M | −$547M | $26M | −$6.9B |
| Operating cash flow | $459M | $180M | $25M | $126M | $751M |
| Operating margin | 17.7% | -6.5% | -31.9% | -10.9% | 17.4% |
| Free cash flow | $368M | $51M | −$108M | −$105M | $300M |
| Diluted EPS | $2.68 | $-1.93 | $-8.12 | $0.37 | $-92.96 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bearish
5 bullish · 1 neutral · 10 bearish
Weekly
Bullish
7 bullish · 1 neutral · 4 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 1,006.1 | Bearish |
| EMA 10 | 954.2 | Bearish |
| SMA 20 | 988.3 | Bearish |
| EMA 20 | 967.5 | Bearish |
| SMA 50 | 931.7 | Bearish |
| EMA 50 | 933.2 | Bearish |
| SMA 100 | 874.9 | Bearish |
| EMA 100 | 879.6 | Bearish |
| SMA 200 | 777.5 | Bullish |
| EMA 200 | 757.8 | Bullish |
Oscillators (daily)
| RSI (14) | 37.37 | Neutral |
| MACD (12, 26) | -0.65 | Bearish |
| Momentum (12) | -15.15 | Bearish |
| Stochastic %K (14) | 7.03 | Bullish |
| Williams %R (14) | -92.97 | Bullish |
| CCI (20) | -145.4 | Bullish |
Pivot points (classic, last session)
S3 762.9 | S2 792.4 | S1 808.3 | Pivot 837.8 | R1 853.7 | R2 883.3 | R3 899.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
LITE SEC filings
6 Oct 2026
DEF 14ASEC EDGAR
Proxy statement
17 Aug 2026
10-KSEC EDGAR
Annual report
11 Aug 2026
8-KSEC EDGAR
Results of operations
30 Jul 2026
8-KSEC EDGAR
Director or officer change
1 Jun 2026
8-KSEC EDGAR
Current report
6 May 2026
10-QSEC EDGAR
Quarterly report
5 May 2026
8-KSEC EDGAR
Results of operations
8 Apr 2026
8-KSEC EDGAR
Current report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.