LITE vs MSI: Lumentum and Motorola Solutions compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Motorola Solutions is the larger company, worth $76.0B, close to Lumentum's $74.2B.
- Lumentum grew revenue faster over the last year (+109.3% vs +13.3%).
- Motorola Solutions keeps more of each dollar of revenue as operating profit (24.9% vs 17.4%).
- On earnings, Motorola Solutions is the cheaper stock (35.4x vs 167.2x).
- Lumentum's price assumes faster free cash flow growth: about 39% a year, against 10% for Motorola Solutions (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | LITE | MSI |
|---|---|---|
| Market cap | $74.2B | $76.0B |
| Share price | $1,103.35 | $444.18 |
| Revenue (last fiscal year) | $3.0B | $11.7B |
| Free cash flow (last fiscal year) | $300M | $2.6B |
| Revenue growth, last year | +109.3% | +13.3% |
| Revenue growth per year, last 5 fiscal years | +15.2% | +9.3% |
| Operating margin | 17.4% | 24.9% |
| Net margin | -230.1% | 17.4% |
| Return on equity | -149.3% | 79.9% |
| P/E (trailing) | 167.2x | 35.4x |
| Price / free cash flow | — | 29.6x |
| EV / EBITDA | 125.7x | 22.0x |
| FCF growth the price implies | 39.2% | 10.1% |
| Dividend yield | — | 1.0% |
| Debt / equity | 0.57x | 6.20x |
| Fundamental grade | D | C |
| Superinvestors holding it | 5 | 7 |
| Insider purchases, last 12 months | 2 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Lumentum
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $1.7B | $368M | 17.7% |
| 2023 | $1.8B | $51M | -6.5% |
| 2024 | $1.4B | -$108M | -31.9% |
| 2025 | $1.6B | -$105M | -10.9% |
| 2026 | $3.0B | $300M | 17.4% |
Motorola Solutions
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $8.2B | $1.6B | 20.4% |
| 2022 | $9.1B | $1.6B | 18.2% |
| 2023 | $10.0B | $1.8B | 23.0% |
| 2024 | $10.8B | $2.1B | 24.8% |
| 2025 | $11.7B | $2.6B | 25.6% |
Where the revenue comes from
Lumentum · by segments, 2026
Systems$2.0B67%
Components$1.0B33%
Motorola Solutions · by segments, 2025
Products and Systems Integration$7.3B62%
Software and Services$4.4B38%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open LITE in InvestinglyQuestions
Which is bigger, Lumentum or Motorola Solutions?
Motorola Solutions (MSI), at $76.0B against $74.2B.
Is LITE or MSI cheaper?
By trailing P/E, Motorola Solutions (35.4x) is cheaper than Lumentum (167.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, LITE or MSI?
Lumentum: revenue grew +109.3% over the last year, against +13.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.