Lumentum
LITE · NasdaqCommunications Equipment, NEC · Fiscal year ends Jun 27
Lumentum reported revenue of $3B in the fiscal year ended Jun 2026, up 83.2% from the year before. Operating income was $525M, an operating margin of 17.4%, and net income was −$6.9B. Operating cash flow of $751M less capital expenditure of $451M left free cash flow of $300M. It held more cash than debt (net cash $406M).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | $1.7B | $1.8B | $1.4B | $1.6B | $3B |
| Gross profit | $789M | $569M | $252M | $460M | $1.3B |
| Research & development | $221M | $308M | $302M | $304M | $357M |
| Selling, general & admin | $266M | $349M | $311M | $348M | $363M |
| Operating income | $303M | −$116M | −$434M | −$180M | $525M |
| Interest expense | $80M | $36M | $34M | $22M | $22M |
| Income tax | $36M | $29M | $141M | −$198M | −$238M |
| Net income | $199M | −$132M | −$547M | $26M | −$6.9B |
| Diluted EPS | 2.68 | −1.93 | −8.12 | 0.37 | −92.96 |
| Diluted shares | 74M | 68M | 67M | 70M | 75M |
Balance sheet
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.3B | $859M | $437M | $521M | $2B |
| Inventory | $250M | $409M | $398M | $470M | $692M |
| Current assets | $3.1B | $2.8B | $1.6B | $1.7B | $4.2B |
| Net PP&E | $361M | $490M | – | – | – |
| Goodwill | $369M | $695M | $1.1B | $1.1B | $1.1B |
| Total assets | $4.2B | $4.6B | $3.9B | $4.2B | $7.3B |
| Payables | $157M | $169M | $126M | $225M | $567M |
| Deferred revenue | $0 | $2M | $600,000 | $700,000 | $15M |
| Current liabilities | $717M | $634M | $269M | $393M | $2.5B |
| Short-term debt | $410M | – | $0 | $11M | $1.6B |
| Long-term debt | $1.5B | – | $2.5B | $2.6B | $41M |
| Total liabilities | $2.3B | $3.3B | $3B | $3.1B | $2.7B |
| Shareholders' equity | $1.9B | $1.4B | $957M | $1.1B | $4.6B |
Cash flow
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $459M | $180M | $25M | $126M | $751M |
| Capital expenditure | $91M | $129M | $133M | $231M | $451M |
| Free cash flow | $368M | $51M | −$108M | −$105M | $300M |
| Depreciation & amortisation | $82M | $107M | $111M | $104M | $129M |
| Stock-based compensation | $103M | $148M | $129M | $177M | $170M |
| Acquisitions | $0 | $862M | $701M | $0 | $38M |
| Share buybacks | $544M | $176M | $0 | $0 | – |
Key ratios
| Fiscal year | Jul 2022 | Jul 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 3.2% | −23.1% | 21.0% | 83.2% |
| Operating income growth (YoY) | – | −138.1% | – | – | – |
| EPS growth (YoY) | – | −172.0% | – | – | −25224.3% |
| Gross margin | 46.0% | 32.2% | 18.5% | 28.0% | 41.7% |
| Operating margin | 17.7% | −6.5% | −31.9% | −10.9% | 17.4% |
| Net margin | 11.6% | −7.4% | −40.2% | 1.6% | −230.1% |
| Return on equityBlank when equity is negative | 10.6% | −9.7% | −57.1% | 2.3% | −149.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.8% | −2.9% | −11.8% | −4.7% | 10.9% |
| Free cash flow margin | 21.5% | 2.9% | −8.0% | −6.4% | 10.0% |
| Cash conversion (CFO ÷ net income) | 2.31x | −1.37x | −0.05x | 4.88x | −0.11x |
| Inventory days | 99 | 124 | 131 | 145 | 144 |
| Payable days | 62 | 52 | 42 | 69 | 118 |
| Interest cover | 3.78x | −3.26x | −12.8x | −8.11x | 24.1x |
| Debt ÷ equity | 1.00x | – | 2.61x | 2.27x | 0.35x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $586M | – | $2.1B | $2.1B | −$406M |
| Current ratio | 4.38x | 4.38x | 5.90x | 4.37x | 1.68x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.