Lumentum (LITE) stock
Information Technology · Communications Equipment
Lumentum (LITE) is a Communications Equipment company in the Information Technology sector, headquartered in San Jose, California. As of October 23, 2026, LITE closed at $756.17, a market capitalization of $68.50 billion, the 183rd largest company in the S&P 500. Over the last twelve months it generated $3.01 billion in revenue (+109% year over year) and $300.10 million in free cash flow.
- 1-year total return: +348.8% (dividends reinvested)
- 5-year return: +55.2% a year
- 52-week range: $184.20 – $1,143.00
- Gross margin 44.2%, operating margin 28.0%
- FI Handbook report card: B- across 10 metrics
- 39th largest of 75 Information Technology stocks in the S&P 500
LITE price chart
1Y price change: +348.8% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| LITE | -19.3% | +105.2% | +348.8% | +171.9% | +55.2% | +34.0% | +40.1% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2015.
LITE key statistics
- Market cap
- $68.5B
- #183 in S&P 500
- P/E (TTM)
- —
- Forward P/E
- 21.1x
- EPS (TTM)
- $-92.96
- Revenue (TTM)
- $3.0B
- +109%
- Free cash flow
- $300.1M
- Gross margin
- 44.2%
- Operating margin
- 28.0%
- Return on equity
- -240.0%
- Dividend yield
- None
- 52-week range
- $184.20 – $1,143
- Beta
- 1.54
- Price / sales
- 22.7x
- EV / EBITDA
- 83.4x
- Debt / equity
- 0.36x
- Employees
- 13,757
LITE report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth109.3%A
- Gross margin44.2%B
- Operating margin28.0%B
- FCF margin10.0%C
- Return on equity-240.0%F
- Net debt / EBITDA-1.3xA
- Forward P/E21.1xC
- PEG ratio0.6xA
- Shareholder yield0.0%F
- Share count change / yr-1.0%B
Lumentum financials
Revenue went from $1.0B in fiscal 2017 to $3.0B in fiscal 2026, growing 13.0% a year.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0B | $1.2B | $1.6B | $1.7B | $1.7B | $1.7B | $1.8B | $1.4B | $1.6B | $3.0B |
| Gross profit | $318.1M | $432.1M | $425.9M | $650.2M | $783.1M | $788.6M | $569.0M | $251.5M | $459.9M | $1.3B |
| Operating income | $47.6M | $139.9M | -$21.6M | $204.1M | $527.0M | $303.3M | -$115.7M | -$434.0M | -$180.1M | $524.8M |
| Net income | -$102.5M | $248.1M | -$36.4M | $135.5M | $397.3M | $198.9M | -$131.6M | -$546.5M | $25.9M | -$6.9B |
| EPS (diluted) | $-1.71 | $3.82 | $-0.54 | $1.75 | $5.07 | $2.68 | $-1.93 | $-8.12 | $0.37 | $-92.96 |
| Free cash flow | -$53.1M | $154.3M | $164.1M | $438.3M | $653.9M | $368.1M | $51.3M | -$108.3M | -$104.7M | $300.1M |
| Buybacks | — | $0 | $0 | $200.0M | $236.0M | $543.9M | $175.6M | $0 | $0 | — |
| Diluted shares | 60.6M | 63.3M | 70.7M | 77.6M | 78.4M | 74.2M | 68.3M | 67.3M | 69.6M | 74.6M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into LITE?
A reverse DCF asks what growth the current price requires. With an enterprise value of $67.4B and $300.1M of trailing free cash flow, Lumentum needs to grow free cash flow about 79.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -14.4% a year over the last five years.
P/E ratio history
Current 2393.4x vs. median 21.2x (10th–90th percentile 14.2x–1560.2x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
LITE analyst price targets
27 analysts' average 12-month target is $1,165 (+54% vs. $756.17). Targets range from $750.00 to $1,500. 81% rate it a buy.
LITE earnings
Next report: November 5, 2026. Lumentum has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $1.0B (+109% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Aug 11, 2026 | $2.97 | $3.23 | +8.8% |
| May 5, 2026 | $2.27 | $2.37 | +4.6% |
| Feb 3, 2026 | $1.41 | $1.67 | +18.6% |
| Nov 4, 2025 | $1.03 | $1.10 | +7.0% |
| Aug 12, 2025 | $0.81 | $0.88 | +8.9% |
| May 6, 2025 | $0.50 | $0.57 | +13.7% |
| Feb 6, 2025 | $0.36 | $0.42 | +17.0% |
| Nov 7, 2024 | $0.12 | $0.18 | +48.0% |
Stocks like LITE
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|---|---|---|---|---|---|
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 MSI Motorola Solutions | +0.84% | +10% | $79.7B | 37.9x | Compare |
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 MSFT Microsoft | +0.66% | +2% | $3.9T | 29.2x | Compare |
LITE news
- Lumentum Holdings (LITE) Fell In The AI Optics Selloff, Is It Still Undervalued? · Oct 23, 2026
- Optics Stocks Tumble as Tech Selloff Deepens Ahead of Earnings: Coherent Tumbles 12%, Applied Optoelectronics Drops 10%, Lumentum Falls 9% · Oct 22, 2026
- Coherent Just Dropped 19% in a Week, Lumentum 16%. Is It Time to Sell, or Load Up? · Oct 22, 2026
- Brown Advisory Sees AI Infrastructure Opportunity in Lumentum Holdings Inc. (LITE) · Oct 22, 2026
- Should You Buy The Dip In Lumentum Stock? · Oct 22, 2026
LITE stock FAQ
What is LITE's market cap?
Lumentum's market capitalization is $68.50 billion as of October 23, 2026, ranking 183rd in the S&P 500.
Does LITE pay a dividend?
No. Lumentum does not currently pay a regular cash dividend.
How much has LITE stock returned?
Including reinvested dividends, LITE returned +348.8% over one year, +55.2% a year over five years, +34.0% a year over ten years through October 23, 2026.
Is LITE stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Lumentum must grow free cash flow about 79% a year for the next decade. Its free cash flow fell 14% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the LITE price target?
27 analysts cover LITE with an average 12-month price target of $1,165.03, +54% from the current price. 81% of them rate it a buy.
When does LITE report earnings?
Lumentum is expected to report earnings on November 5, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does Lumentum have?
Lumentum has about 13,757 full-time employees, or $219,088 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology