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Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Cloud & Networking and Industrial Tech. The Cloud & Networking segment offers optical and photonic chips, components, modules, and subsystems supplied to cloud data center operators, AI/ML infrastructure providers, and network equipment manufacturer customers that are building cloud data centers and network infrastructures. Its Industrial Tech segment provides short-pulse solid-state lasers, kilowatt-class fiber lasers, diode lasers, and gas lasers that serves the semiconductor device, solar cell, display, and electric vehicle and battery manufacturing markets. The company was incorporated in 2015 and is headquartered in San Jose, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.6B | $107M | $26M | $-105M | 2.3% | 21.0% | -104.7% |
| 2024 | $1.4B | $-82M | $-547M | $-112M | -57.1% | -23.1% | 315.3% |
| 2023 | $1.8B | $189M | $-132M | $51M | -9.7% | 3.2% | -166.2% |
| 2022 | $1.7B | $482M | $199M | $368M | 10.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,712.60 | 1,767 | 1,359.20 | 1,645 |
| Cost Of Revenue | - | 924 | 1,198 | 1,107.70 | 1,185.10 |
| Gross Profit | - | 788.60 | 569 | 251.50 | 459.90 |
| Operating Expense | - | 486.40 | 656.60 | 612.90 | 652.10 |
| Operating Income | - | 302.20 | -87.60 | -361.40 | -192.20 |
| EBITDA | - | 482.40 | 188.70 | -81.60 | 106.80 |
| EBIT | - | 315.30 | -66.90 | -371.90 | -149.90 |
| Pretax Income | - | 235.10 | -102.40 | -405.70 | -172.10 |
| Tax Provision | - | 36.20 | 29.20 | 140.80 | -198 |
| Net Income | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Net Income Common Stockholders | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Total Expenses | - | 1,410.40 | 1,854.60 | 1,720.60 | 1,837.20 |
| Interest Expense | - | 80.20 | 35.50 | 33.80 | 22.20 |
| Interest Income | - | 6.10 | 40.80 | 61.30 | 34.40 |
| Research And Development | - | 220.70 | 307.80 | 302.20 | 303.90 |
| Selling General And Administration | - | 265.70 | 348.80 | 310.70 | 348.20 |
| Normalized EBITDA | - | 475.20 | 209.80 | -9.80 | 98.90 |
| Normalized Income | - | 192.81 | -114.93 | -489.78 | 19.66 |
| Market Cap | 62,949.10 | 62,949.10 | 62,949.10 | 62,949.10 | 62,949.10 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Lumentum Holdings Inc.this co. | LITE | $60.1B | 2430.47↑ premium | 55.48 | 2.3% | 608.96 |
| Motorola Solutions, Inc. | MSI | $73.0B | 33.82 | 30.22 | 89.4% | 22.64 |
| Teradyne, Inc. | TER | $66.6B | 118.14 | 23.41 | 19.8% | 83.04 |
| Fortinet, Inc. | FTNT | $63.8B | 33.67 | 50.43 | 149.8% | 24.82 |
| TE Connectivity plc | TEL | $63.7B |
| - |
| - |
| - |
| - |
| - |
| - |
| 34.20 |
| 5.01 |
| 14.6% |
| 16.40 |
| NXP Semiconductors N.V. | NXPI | $61.7B | 30.51 | 6.13 | 20.1% | 17.92 |
| Keysight Technologies, Inc. | KEYS | $60.0B | 70.01 | 10.12 | 14.5% | 41.55 |
| Autodesk, Inc. | ADSK | $50.5B | 44.57 | 16.45 | 36.9% | 25.43 |
| Garmin Ltd. | GRMN | $49.9B | 30.07 | 5.58 | 18.5% | 23.21 |
| Peer Median | - | 34.01 | 13.29 | 20.0% | 24.01 | |