Lumentum Holdings Inc. (LITE) Key Metrics
LITE valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $74.65B
- Enterprise value
- $82.98B
- P/E (TTM)
- — 10-yr median 29.6
- Forward P/E
- 42.9
- PEG ratio
- 0.63
- Price / sales
- 24.8 10-yr median 3.4
- Price / book
- 18.1 10-yr median 3.6
- EV / EBITDA
- 114.9 10-yr median 19.3
- Dividend yield
- —
- Beta
- 1.54
LITE key metrics, FY2017–FY2026
Fiscal year ended June 30, 2026 · U.S. dollarsLITE valuation Price multiples at each fiscal year-end price.
Price / sales+428.0%
21.2
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / book+136.4%
13.8
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / free cash flow
213.3
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow yield+2.1 pts
0.5%
FY2026 · hover or tap a bar for each year
FY2017FY2026
LITE returns How much profit the business earns on the capital it uses.
Return on equity−242.5 pts
−240.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on invested capital+18.4 pts
12.9%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on assets−121.0 pts
−120.3%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow margin+16.3 pts
10.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Asset turnover+29.6%
0.52
FY2026 · hover or tap a bar for each year
FY2017FY2026
LITE per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+70.9%
$40.40
FY2026 · hover or tap a bar for each year
FY2017FY2026
Earnings per share
−$92.96
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow per share
$4.02
FY2026 · hover or tap a bar for each year
FY2017FY2026
Book value per share+281.8%
$62.25
FY2026 · hover or tap a bar for each year
FY2017FY2026
Shares outstanding+7.2%
74.6M
FY2026 · hover or tap a bar for each year
FY2017FY2026
LITE financial health Debt, liquidity and how easily interest is covered.
Debt / equity−84.3%
0.36
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt−$2.8B
−$1.07B
FY2026 · hover or tap a bar for each year
FY2017FY2026
Current ratio−61.6%
1.68
FY2026 · hover or tap a bar for each year
FY2017FY2026
Interest coverage
24.1
FY2026 · hover or tap a bar for each year
FY2017FY2026
Debt / assets−63.0%
0.23
FY2026 · hover or tap a bar for each year
FY2017FY2026
LITE efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−3 days
47 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days of inventory−13 days
121 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days payables outstanding+28 days
82 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Cash conversion cycle−44 days
85 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Capex / revenue+0.9 pts
15.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Dividends + buybacks / FCF
34.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
LITE valuation history
Fiscal year-endToday10-year median
LITE returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LITE debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LITE cash returned to shareholders
DividendsBuybacksFree cash flow
LITE price vs earnings per share
Share price at year-endEPS (right axis)
LITE key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $64.01B | $6.62B | $3.43B | $3.87B | $5.89B | $6.09B | $6.32B | $3.78B | $3.67B | $3.46B |
| Enterprise value | $62.94B | $8.35B | $5.10B | $4.73B | $5.28B | $5.38B | $5.95B | $3.85B | $3.30B | $3.26B |
| P/E ratio | — | 255.5 | — | — | 29.6 | 15.3 | 46.6 | — | 14.8 | — |
| Price / sales | 21.2 | 4.0 | 2.5 | 2.2 | 3.4 | 3.6 | 3.8 | 2.4 | 2.9 | 3.5 |
| Price / book | 13.8 | 5.8 | 3.6 | 2.9 | 3.1 | 3.1 | 3.6 | 2.5 | 3.8 | 5.3 |
| Price / free cash flow | 213.3 | — | — | 75.5 | 16.0 | 9.5 | 14.4 | 23.0 | 23.8 | — |
| Price / operating cash flow | 85.2 | 52.4 | 138.7 | 21.5 | 12.8 | 8.2 | 12.1 | 11.4 | 14.8 | 40.7 |
| EV / sales | 20.9 | 5.1 | 3.8 | 2.7 | 3.1 | 3.1 | 3.5 | 2.5 | 2.6 | 3.3 |
| EV / EBITDA | — | 78.2 | — | 25.1 | 10.9 | 11.2 | 13.9 | 24.0 | 14.7 | 486.6 |
| EV / free cash flow | 209.7 | — | — | 92.3 | 14.3 | 8.4 | 13.6 | 23.5 | 21.4 | — |
| Earnings yield | −10.8% | 0.4% | −15.9% | −3.4% | 3.4% | 6.5% | 2.1% | −1.0% | 6.8% | −3.0% |
| Free cash flow yield | 0.5% | −1.6% | −3.2% | 1.3% | 6.2% | 10.6% | 6.9% | 4.3% | 4.2% | −1.5% |
| Dividend yield | — | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.2% | 0.6% | 0.7% | 4.5% | 9.2% | 4.5% | 3.2% | 0.1% | 0.0% | 0.0% |
| Share price at fiscal year-end | $858.06 | $95.06 | $50.92 | $56.73 | $79.42 | $82.03 | $81.43 | $53.41 | $57.90 | $57.05 |
| Per share | ||||||||||
| Revenue per share | $40.40 | $23.64 | $20.20 | $25.87 | $23.08 | $23.08 | $21.63 | $22.14 | $19.71 | $16.53 |
| Earnings per share | −$92.96 | $0.37 | −$8.12 | −$1.93 | $2.68 | $5.35 | $1.75 | −$0.51 | $3.92 | −$1.69 |
| Operating cash flow per share | $10.07 | $1.81 | $0.37 | $2.63 | $6.19 | $9.96 | $6.76 | $4.67 | $3.91 | $1.40 |
| Free cash flow per share | $4.02 | −$1.50 | −$1.65 | $0.75 | $4.96 | $8.68 | $5.65 | $2.32 | $2.44 | −$0.88 |
| Cash per share | $36.71 | $12.60 | $13.18 | $29.48 | $34.35 | $26.23 | $20.02 | $10.87 | $11.24 | $9.16 |
| Book value per share | $62.25 | $16.30 | $14.22 | $19.85 | $25.27 | $26.59 | $22.54 | $21.18 | $15.20 | $10.80 |
| Tangible book value per share | $43.53 | −$5.62 | −$10.64 | $2.95 | $18.20 | $18.37 | $13.70 | $10.36 | $14.91 | $10.45 |
| Dividends per share | — | — | — | — | — | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 |
| Capex per share | $6.05 | $3.32 | $2.02 | $1.88 | $1.23 | $1.28 | $1.11 | $2.35 | $1.47 | $2.28 |
| Debt per share | $22.40 | $37.47 | $38.03 | $42.07 | $26.09 | $16.71 | $15.33 | $11.90 | $5.40 | $5.91 |
| Shares outstanding | 74.6M | 69.6M | 67.3M | 68.3M | 74.2M | 74.2M | 77.6M | 70.7M | 63.3M | 60.6M |
| Change in shares outstanding | +7.2% | +3.4% | −1.5% | −8.0% | 0.0% | −4.4% | +9.8% | +11.7% | +4.5% | −1.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −240.0% | 2.5% | −47.3% | −8.1% | 10.3% | 21.3% | 8.3% | −3.0% | 30.7% | −17.3% |
| Return on invested capital (ROIC) | 12.9% | −5.5% | −11.8% | −4.0% | 20.2% | 19.4% | 10.7% | −1.6% | 26.7% | 9.0% |
| Return on assets (ROA) | −120.3% | 0.6% | −12.8% | −3.0% | 5.2% | 11.6% | 4.5% | −1.7% | 17.6% | −10.5% |
| Return on tangible assets | −117.3% | 1.0% | −24.2% | −3.8% | 5.5% | 13.5% | 5.2% | −1.9% | 15.9% | −8.5% |
| Free cash flow margin | 10.0% | −6.4% | −8.2% | 2.9% | 21.5% | 37.6% | 26.1% | 10.5% | 12.4% | −5.3% |
| Income quality (OCF / net income) | — | 4.88 | — | — | 2.31 | 1.86 | 3.87 | — | 1.00 | — |
| Financial health | ||||||||||
| Total debt | $1.67B | $2.61B | $2.56B | $2.87B | $1.94B | $1.24B | $1.19B | $841.3M | $341.9M | $358.1M |
| Cash & short-term investments | $2.74B | $877.1M | $887.0M | $2.01B | $2.55B | $1.95B | $1.55B | $768.5M | $711.5M | $555.3M |
| Net debt | −$1.07B | $1.73B | $1.67B | $860.1M | −$613.0M | −$706.1M | −$364.5M | $72.8M | −$369.6M | −$197.2M |
| Debt / equity | 0.36 | 2.30 | 2.67 | 2.12 | 1.03 | 0.63 | 0.68 | 0.56 | 0.36 | 0.55 |
| Debt / assets | 0.23 | 0.62 | 0.65 | 0.62 | 0.47 | 0.35 | 0.36 | 0.31 | 0.22 | 0.29 |
| Net debt / EBITDA | — | 16.21 | — | 4.56 | −1.27 | −1.46 | −0.85 | 0.45 | −1.64 | −29.43 |
| Current ratio | 1.68 | 4.37 | 5.90 | 4.38 | 4.38 | 3.67 | 7.24 | 4.53 | 5.27 | 5.05 |
| Quick ratio | 1.40 | 3.18 | 4.43 | 3.74 | 4.03 | 3.37 | 6.58 | 3.76 | 4.55 | 4.26 |
| Interest coverage | 24.1 | -8.7 | -10.7 | -2.5 | 3.8 | 3.8 | 3.3 | -0.6 | 7.7 | 8.7 |
| Working capital | $1.68B | $1.32B | $1.32B | $2.14B | $2.42B | $1.77B | $1.77B | $1.04B | $913.2M | $746.1M |
| Invested capital | $3.58B | $2.87B | $2.63B | $2.22B | $1.26B | $1.27B | $1.38B | $1.57B | $592.3M | $457.4M |
| Tangible asset value | $3.25B | −$391.3M | −$716.0M | $201.5M | $1.35B | $1.36B | $1.06B | $732.8M | $943.6M | $633.1M |
| Net current asset value | $1.50B | −$1.37B | −$1.38B | −$498.4M | $852.0M | $858.0M | $506.6M | $113.3M | $507.6M | $352.0M |
| Graham number | — | $11.68 | — | — | $39.04 | $56.60 | $29.76 | — | $36.61 | — |
| Graham net-net per share | $10.87 | −$25.64 | −$25.89 | −$12.79 | $7.86 | $8.42 | $3.61 | −$2.24 | $5.00 | $2.88 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | $200,000 | $700,000 | $700,000 | $700,000 | $900,000 |
| Share buybacks (net) | $102.0M | $41.7M | $24.0M | $175.6M | $543.9M | $275.7M | $200.0M | $2.4M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | 0.1% | 0.5% | — | 0.3% | — |
| Dividends + buybacks / free cash flow | 34.0% | — | — | 342.3% | 147.8% | 42.8% | 45.8% | 1.9% | 0.5% | — |
| Capex / revenue | 15.0% | 14.0% | 10.0% | 7.3% | 5.3% | 5.5% | 5.1% | 10.6% | 7.5% | 13.8% |
| Capex / operating cash flow | 60.1% | 182.9% | 550.6% | 71.5% | 19.9% | 12.8% | 16.4% | 50.3% | 37.7% | 162.5% |
| Capex / depreciation | 1.69 | 0.90 | 0.47 | 0.50 | 0.55 | 0.40 | 0.45 | 1.05 | 1.21 | 2.26 |
| Stock-based compensation / revenue | 5.6% | 10.8% | 9.5% | 8.4% | 6.0% | 5.4% | 4.4% | 3.9% | 3.8% | 3.3% |
| R&D / revenue | 11.8% | 18.5% | 22.2% | 17.4% | 12.9% | 12.9% | 11.8% | 11.8% | 12.6% | 14.8% |
| SG&A / revenue | 12.1% | 21.2% | 22.9% | 19.7% | 15.5% | 14.1% | 12.5% | 12.3% | 10.3% | 11.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 46.6 | 49.3 | 59.2 | 52.5 | 50.6 | 47.6 | 51.3 | 50.7 | 53.2 | 61.4 |
| Days of inventory on hand | 120.6 | 133.7 | 133.0 | 100.3 | 88.2 | 76.1 | 74.1 | 61.2 | 66.9 | 65.6 |
| Days payables outstanding | 82.3 | 54.1 | 48.7 | 49.7 | 54.0 | 52.9 | 55.3 | 46.0 | 54.0 | 62.2 |
| Cash conversion cycle (days) | 85.0 | 129.0 | 143.4 | 103.1 | 84.7 | 70.8 | 70.1 | 66.0 | 66.0 | 64.8 |
| Receivables turnover | 7.83 | 7.40 | 6.17 | 6.96 | 7.21 | 7.67 | 7.12 | 7.20 | 6.87 | 5.95 |
| Payables turnover | 4.44 | 6.74 | 7.49 | 7.35 | 6.75 | 6.90 | 6.60 | 7.93 | 6.76 | 5.86 |
| Inventory turnover | 3.03 | 2.73 | 2.75 | 3.64 | 4.14 | 4.80 | 4.92 | 5.96 | 5.46 | 5.56 |
| Asset turnover | 0.52 | 0.40 | 0.32 | 0.40 | 0.44 | 0.50 | 0.56 | 0.73 | 0.89 | 1.02 |
| Average receivables | $385.1M | $222.3M | $220.4M | $254.1M | $237.4M | $223.2M | $235.8M | $217.6M | $181.7M | $168.4M |
| Average payables | $396.3M | $175.8M | $147.8M | $163.1M | $136.8M | $133.8M | $155.8M | $143.7M | $120.7M | $116.5M |
| Average inventory | $580.9M | $434.2M | $403.5M | $329.4M | $223.2M | $192.7M | $208.8M | $191.2M | $149.4M | $122.9M |
| Intangibles / total assets | 19.1% | 36.2% | 42.6% | 24.9% | 12.6% | 17.2% | 20.8% | 28.1% | 1.2% | 1.7% |
Computed from LITE's annual financial statements (latest annual report filed August 17, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LITE valuation and financial ratios
Lumentum earned a return on equity of −240.0% and a return on invested capital of 12.9% in fiscal 2026. It ended the year with $1.7 billion of debt and $2.7 billion in cash and short-term investments, a net cash position of $1.1 billion. It returned $102.0 million to shareholders: $0 in dividends and $102.0 million in share buybacks, 34% of free cash flow. The share count rose 23.1% from 60.6M to 74.6M over 9 years.
See the LITE income statement, the LITE chart for price history, or the LITE stock overview for the latest quote and news.
LITE key metrics FAQ
What is Lumentum's return on equity?
Lumentum's return on equity (ROE) was −240.0% in fiscal 2026: net income of -$6.9 billion on average shareholders' equity of $2.9 billion.
What is Lumentum's ROIC?
Lumentum's return on invested capital was 12.9% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Lumentum have?
Lumentum had total debt of $1.7 billion at the end of fiscal 2026, a debt-to-equity ratio of 0.36 and more cash than debt.
Does Lumentum buy back its shares?
Yes. Lumentum spent $102.0 million on net share repurchases in fiscal 2026 Shares outstanding changed +7.2% over the year, to 74.6M..
What is Lumentum's free cash flow yield?
Lumentum generated $300.1 million of free cash flow in fiscal 2026, a free cash flow yield of 0.5% on its market value at year-end ($64.0 billion).
What is Lumentum's current ratio?
Lumentum's current ratio was 1.68 at the end of fiscal 2026: current assets were 1.68 times current liabilities.