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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 |
| Operating 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 |
| Research And Development | - | 220.70 | 307.80 | 302.20 | 303.90 |
| Selling General And Administration | - | 265.70 | 348.80 | 310.70 | 348.20 |
| Total Expenses | - | 1,410.40 | 1,854.60 | 1,720.60 | 1,837.20 |
| Operating Income | - | 302.20 | -87.60 | -361.40 | -192.20 |
| Total Operating Income As Reported | - | 303.30 | -115.70 | -434 | -180.10 |
| EBITDA | - | 482.40 | 188.70 | -81.60 | 106.80 |
| Normalized EBITDA | - | 475.20 | 209.80 | -9.80 | 98.90 |
| EBIT | - | 315.30 | -66.90 | -371.90 | -149.90 |
| Interest Income | - | 6.10 | 40.80 | 61.30 | 34.40 |
| Interest Expense | - | 80.20 | 35.50 | 33.80 | 22.20 |
| Net Interest Income | - | -74.10 | 5.30 | 27.50 | 12.20 |
| Other Non Operating Income Expenses | 1.50 | -0.20 | 1 | - | - |
| Other Income Expense | - | 7 | -20.10 | -71.80 | 7.90 |
| Interest Income Non Operating | - | 6.10 | 40.80 | 61.30 | 34.40 |
| Interest Expense Non Operating | - | 80.20 | 35.50 | 33.80 | 22.20 |
| Net Non Operating Interest Income Expense | - | -74.10 | 5.30 | 27.50 | 12.20 |
| Pretax Income | - | 235.10 | -102.40 | -405.70 | -172.10 |
| Tax Provision | - | 36.20 | 29.20 | 140.80 | -198 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 1.11 | -4.43 | -15.08 | 1.66 |
| Net Income Continuous Operations | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Net Income From Continuing And Discontinued Operation | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Net Income From Continuing Operation Net Minority Interest | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Net Income | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Net Income Common Stockholders | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Net Income Including Noncontrolling Interests | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Normalized Income | - | 192.81 | -114.93 | -489.78 | 19.66 |
| Diluted NI Availto Com Stockholders | - | 198.90 | -131.60 | -546.50 | 25.90 |
| Basic Average Shares | - | 71.20 | 68.30 | 67.30 | 69 |
| Diluted Average Shares | - | 74.20 | 68.30 | 67.30 | 69.60 |
| Reconciled Depreciation | - | 167.10 | 255.60 | 290.30 | 256.70 |
| Reconciled Cost Of Revenue | - | 924 | 1,198 | 1,107.70 | 1,185.10 |
| Total Unusual Items | - | 7.20 | -21.10 | -71.80 | 7.90 |
| Total Unusual Items Excluding Goodwill | - | 7.20 | -21.10 | -71.80 | 7.90 |
| Special Income Charges | - | 1.10 | -28.10 | -72.60 | 12.10 |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | - | -1.10 | 28.10 | 72.60 | 22.80 |
| Gain On Sale Of Security | - | 6.10 | 7 | 0.80 | -4.20 |
| Gain On Sale Of Ppe | - | - | 0 | 0 | 34.90 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Lumentum Holdings Inc.this co. | LITE | $73.5B | 2838.89↑ premium | 64.80 | 2.3% | 708.00 |
| Intuit Inc. | INTU | $82.6B | 21.35 | 4.19 | 19.6% | 14.66 |
| Coherent Corp. | COHR | $82.5B | 1672.07 | 14.62 | 0.9% | 95.98 |
| NXP Semiconductors N.V. | NXPI | $81.4B | 40.25 | 8.09 | 20.1% | 22.89 |
| Monolithic Power Systems, Inc. | MPWR | $81.2B |
| - |
| - |
| - |
| - |
| - |
| - |
| 130.64 |
| 22.99 |
| 17.6% |
| 102.56 |
| Ciena Corporation | CIEN | $75.8B | 614.93 | 27.79 | 4.5% | 196.65 |
| Hewlett Packard Enterprise Company | HPE | $71.1B | 1247.31 | 2.88 | 0.2% | 20.41 |
| Motorola Solutions, Inc. | MSI | $68.2B | 31.65 | 28.29 | 89.4% | 21.35 |
| TE Connectivity plc | TEL | $64.4B | 34.98 | 5.12 | 14.6% | 16.75 |
| Peer Median | - | 85.45 | 11.36 | 16.1% | 22.12 | |