Lumentum Holdings - Public Comps and Valuation Multiples

Lumentum Holdings Overview

About Lumentum Holdings

Lumentum Holdings Inc is a California-based technology firm. The company provides two types of optical and photonic products: optical components that are used in telecommunications networking equipment, and commercial lasers for manufacturing, inspection, and life-science lab uses. Its segments are Optical Communications and Commercial Lasers. The firm is also expanding into new optical applications, such as 3-D sensing laser diode for consumer electronics. It generates maximum revenue from the OpComms segment. The OpComms segment products include a wide range of components, modules, and subsystems to support customers including carrier networks for access (local), metro (intracity), long-haul, and submarine (undersea) applications.

Founded

2015

HQ

Employees

10.6K+

Website

lumentum.com

Sectors

Electronic Components
Sensors & Instruments
Networking Hardware
DeepTech
Industry 4.0

Financials

LTM Revenue $1.8B

LTM EBITDA $368M

EV

$13.4B

Valuation Multiples

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Lumentum Holdings Financials

As of September 2025, Lumentum Holdings reported last 12-month revenue of $1.8B and EBITDA of $368M.

In the same period, Lumentum Holdings generated $667M in LTM gross profit and $213M in net income.

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Lumentum Holdings P&L

In the most recent fiscal year, Lumentum Holdings reported revenue of $1.6B and EBITDA of $107M.

Lumentum Holdings expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.8B	XXX	$1.6B	XXX	XXX	XXX
Gross Profit	$667M	XXX	$460M	XXX	XXX	XXX
Gross Margin	36%	XXX	28%	XXX	XXX	XXX
EBITDA	$368M	XXX	$107M	XXX	XXX	XXX
EBITDA Margin	20%	XXX	6%	XXX	XXX	XXX
EBIT	$241M	XXX	-$192M	XXX	XXX	XXX
EBIT Margin	13%	XXX	-12%	XXX	XXX	XXX
Net Profit	$213M	XXX	$25.9M	XXX	XXX	XXX
Net Margin	12%	XXX	2%	XXX	XXX	XXX
Net Debt	XXX	XXX	$2.1B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Lumentum Holdings including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.8B. EBITDA for the last twelve months was $368M. In the most recent fiscal year, Lumentum Holdings achieved $1.6B in revenue and $107M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.8B	Analyst estimates available to subscribers	$1.6B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$667M	Analyst estimates available to subscribers	$460M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	36.1% gross margin	Analyst estimates available to subscribers	28.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$368M	Analyst estimates available to subscribers	$107M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	20.0% EBITDA margin	Analyst estimates available to subscribers	6.5% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$241M	Analyst estimates available to subscribers	-$192M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	13.1% EBIT margin	Analyst estimates available to subscribers	-11.7% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$213M	Analyst estimates available to subscribers	$25.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	11.6% net profit margin	Analyst estimates available to subscribers	1.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$2.1B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Lumentum Holdings

This financial data table provides comprehensive performance metrics for Lumentum Holdings, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Lumentum Holdings generated $1.8B in revenue over the last twelve months.
The company achieved $368M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $667M.
Net income over the last twelve months reached $213M.

Fiscal Year Performance

In the most recent fiscal year, Lumentum Holdings reported $1.6B in total revenue.
Fiscal year EBITDA was $107M.
The company maintained a gross profit margin of 28.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 6.5%.
Net profit margin reached 1.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Lumentum Holdings. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Lumentum Holdings Stock Performance

Lumentum Holdings has current market cap of $11.7B, and EV of $13.4B.

Market Cap Evolution

Lumentum Holdings Stock Data

As of October 17, 2025, Lumentum Holdings's stock price is $165.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$13.4B	$11.7B	XXX	XXX	XXX	XXX	$2.92

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Lumentum Holdings Valuation Multiples

Lumentum Holdings's trades at 8.9x EV/Revenue multiple, and 1064.7x EV/EBITDA.

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Lumentum Holdings Financial Valuation Multiples

As of October 17, 2025, Lumentum Holdings has market cap of $11.7B and EV of $13.4B.

Equity research analysts estimate Lumentum Holdings's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Lumentum Holdings has a P/E ratio of 54.8x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$11.7B	XXX	$11.7B	XXX	XXX	XXX
EV (current)	$13.4B	XXX	$13.4B	XXX	XXX	XXX
EV/Revenue	7.3x	XXX	8.9x	XXX	XXX	XXX
EV/EBITDA	36.4x	XXX	1064.7x	XXX	XXX	XXX
EV/EBIT	55.6x	XXX	-48.5x	XXX	XXX	XXX
EV/Gross Profit	20.1x	XXX	n/a	XXX	XXX	XXX
P/E	54.8x	XXX	-44.9x	XXX	XXX	XXX
EV/FCF	229.5x	XXX	-123.6x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Lumentum Holdings Margins & Growth Rates

Lumentum Holdings's last 12 month revenue growth is 33%

Lumentum Holdings's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

Lumentum Holdings's rule of 40 is 34% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Lumentum Holdings's rule of X is 103% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Lumentum Holdings Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	33%	XXX	31%	XXX	XXX	XXX
EBITDA Margin	20%	XXX	1%	XXX	XXX	XXX
EBITDA Growth	85%	XXX	660%	XXX	XXX	XXX
Rule of 40	34%	XXX	34%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	103%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	18%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	40%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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