Lumentum Holdings Inc

Lumentum Holdings Inc

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Market Cap$69.26B
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P/E RatioDividendsReturn on EquityPrice-to-SalesDebt-to-Equity
Lumentum Holdings IncLumentum Holdings Inc143.3--145%21.50.4

Earnings Call Q4 2026

August 11, 2026 - AI Summary

Blowout quarter + strong momentum (good/surprising): Q4 revenue $1.01B, +109% YoY (and +8th consecutive quarter of growth). Sequential revenue growth also strong with 3rd straight quarter of >20% QoQ. Non-GAAP gross margin crossed 50% (earlier than the company had targeted—initially expected at a ~$2B quarterly run-rate). Non-GAAP operating margin +2,150 bps YoY; Q4 non-GAAP operating margin 36.6%.
Upside guidance: hits revenue target early + margin strength (good): Company expects Q1 FY27 revenue $1.225B–$1.275B (midpoint $1.25B), which reaches a stated $1.25B quarterly target more than a quarter early. Q1 non-GAAP operating margin 39.5%–40.5% (midpoint >2,100 bps YoY expansion). Q1 diluted non-GAAP EPS $4.05–$4.35 (assumes 16.5% effective tax rate, ~102M shares). CFO/CEO framed this as operating leverage + better mix + execution.
Product/category highlights + key growth drivers (opportunities): - Components revenue $649M (+22% QoQ, +103% YoY) driven by laser momentum. - Pump lasers +80% YoY, effectively sold out, and company expects ~4x pump laser shipment increase over coming quarters. - EMLs record quarter, especially 100G-per-lane (+130%+ YoY assemblies) and 200G-per-lane now >25% of EML revenue. - Systems revenue $357M (+30% QoQ, +123% YoY) driven by cloud transceivers and OCS. - Cloud transceivers: bulk at 800G, and began shipping 1.6T transceivers as planned; profitability improving via yield + utilization + higher ASP 1.6T rollout. - Company expects 1.6T uptake to intensify in fiscal Q1 through calendar 2027 (customers transitioning from 800G → 1.6T). - OCS: internal manufacturing ramp led to first triple-digit OCS revenue quarter expected in Q1; demand for 2027 described as “incredibly strong.”

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$1041.27

Target Price by Analysts

18.3% upsideLumentum Holdings Target Price DetailsTarget Price
$-6.39

Current Fair Value

100.7% downside

Overvalued by 100.7% based on the discounted cash flow analysis.

Share Statistics

Market cap$69.26 Billion
Enterprise Value$68.88 Billion
Dividend Yield$- (-)
Earnings per Share$0.38
Beta1.48
Outstanding Shares71,500,000

Return

Return on Equity-144.84%ROE
Return on Assets-92.04%
Return on Invested Capital-149.29%

Valuation & Multiples

P/E Ratio143.34P/E Ratio
PEG-4.15PEG
Price to Sales21.47Price to Sales
Price to Book Ratio13.76Price to Book Ratio
Enterprise Value to Revenue23.26
Enterprise Value to EBIT-9.56
Enterprise Value to Net Income-11
Total Debt to Enterprise0.02
Debt to Equity0.36Debt to Equity

Revenue Sources

No data

Insider Trades

Last Earnings Call

Report Date
August 11, 2026
EPS Estimate
$2.97
Average shareholder expectation
Revenue Estimate
$987.70 M
Average shareholder expectation

Next Earnings Call

Expected Date
November 3, 2026
EPS Estimate
$3.56
Average shareholder expectation
Revenue Estimate
$1.25 B
Average shareholder expectation

Institutional Put/Call Ratio

Market sentiment based on institutional option activity.

Put/Call Ratio0.6471 16.31%
Total Calls324,500 96.44%
Total Puts210,000 97.15%

Institutional Ownership

Holdings and activity of institutional investors.

Ownership %27.81% 80.78%
Total Invested$16.98B 68.59%
Investors Holding687 468.00%

ESG Score

No data

About Lumentum Holdings Inc

CEO: Alan Lowe