LITENasdaqCommunications Equipment, NECFiscal year ends June 27
Lumentum Holdings Inc.
Financials through Q4 FY2026, quarter ended Jun 27, 2026Last filing: 10-K on Aug 17, 2026
$834.51+10.38 (+1.26%)
Close on Oct 19, 2026
- Market cap
- $71.27B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
41.7%−3.3 pts over 5 years
Operating margin
17.4%−12.8 pts over 5 years
Net margin
-230.1%−252.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +83.2% | +19.5% | +11.6% | +12.8% | |
| Gross profit | +173.1% | +30.2% | +9.9% | +16.3% | |
| Operating income | – | – | -0.1% | +46.5% | |
| Free cash flow | – | +80.2% | -14.4% | +51.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | -18.4% | 21.3% | -240.0% | |
| Return on assets | -10.5% | 11.6% | -120.3% | |
| Current ratio | 5.05 | 3.67 | 1.68 | |
| Debt to equity | – | – | 0.70 | |
| Interest coverage | 8.7× | 7.9× | 24.1× | |
| Inventory turnover | 5.6× | 5.0× | 3.0× | |
| Capex to revenue | 13.8% | 4.9% | 15.0% | |
| Diluted shares | 61M | 78M | 75M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Lumentum generated $1.54B from operations and spent $1.75B on capital expenditure, dividends and share buybacks. 59% of that went back into the business.
Generated
$1.54B
Used
$1.75B
Capital expenditure$1.04B59%Dividends$00%Share buybacks$719.50M41%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-230.1%
×Asset turnover0.52×
×Equity multiplier1.99×
=Return on equity, FY2026-240.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -230.1% | 0.52× | 1.99× | -240.0% |
| FY2025 | 1.6% | 0.40× | 3.90× | 2.5% |
| FY2024 | -40.2% | 0.32× | 3.70× | -47.3% |
| FY2023 | -7.4% | 0.40× | 2.72× | -8.1% |
| FY2022 | 11.6% | 0.44× | 2.00× | 10.3% |
| FY2021 | 22.8% | 0.51× | 1.84× | 21.3% |
| FY2020 | 8.1% | 0.56× | 1.85× | 8.3% |
| FY2019 | -2.3% | 0.73× | 1.77× | -3.0% |
| FY2018 | 19.9% | 0.89× | 1.82× | 32.1% |
| FY2017 | -10.2% | 1.02× | 1.76× | -18.4% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$6.94B
- Cash generatingOperating cash flow above zero$751.40M
- Return on assets improvedROA up on the prior year0.7% → -164.4%
- Earnings backed by cashOperating cash flow above net income$751.40M vs -$6.94B
- Less leverageLong-term debt to assets fell60.7% → 0.6%
- Better liquidityCurrent ratio rose4.37 → 1.68
- No dilutionShare count did not rise70M → 75M
- Gross margin improvedGross margin up on the prior year27.96% → 41.67%
- More efficientAsset turnover rose0.42 → 0.71