Lumentum (LITE) financial statements
Lumentum reported revenue of $3.0B in fiscal 2026, up 13.0% a year over 9 years.
Net income was -$6.9B and the operating margin 17.4%, against 4.8% in 2017.
Free cash flow was $300M.
The diluted share count rose 23% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lumentum's 10-K filings with the SEC.
| 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 |
| Cost of revenue | $677M | $812M | $1.1B | $975M | $898M | $861M | $1.1B | $1.0B | $1.1B | $1.7B |
| Gross profit | $318M | $432M | $426M | $650M | $783M | $789M | $569M | $252M | $460M | $1.3B |
| Research and development | $148M | $157M | $185M | $199M | $214M | $221M | $308M | $302M | $304M | $356M |
| Selling, general and admin | $110M | $128M | $200M | $235M | $241M | $266M | $349M | $311M | $348M | $363M |
| Operating income | $48M | $140M | -$22M | $204M | $527M | $303M | -$116M | -$434M | -$180M | $525M |
| Interest expense | $6M | $18M | $36M | $61M | $67M | $80M | $36M | $34M | $22M | $22M |
| Pre-tax income | -$60M | $129M | -$33M | — | — | — | — | — | — | — |
| Income tax | $43M | -$119M | $3M | $39M | $66M | $36M | $29M | $141M | -$198M | -$238M |
| Net income | -$102M | $248M | -$36M | $136M | $397M | $199M | -$132M | -$546M | $26M | -$6.9B |
| EPS (diluted) | -$1.71 | $3.82 | -$0.54 | $1.75 | $5.07 | $2.68 | -$1.93 | -$8.12 | $0.37 | -$92.96 |
| Diluted shares | 61M | 63M | 71M | 78M | 78M | 74M | 68M | 67M | 70M | 75M |
| Gross margin | 31.8% | 34.6% | 27.2% | 38.7% | 44.9% | 46.0% | 32.2% | 18.5% | 28.0% | 41.7% |
| Operating margin | 4.8% | 11.2% | -1.4% | 12.2% | 30.2% | 17.7% | -6.5% | -31.9% | -10.9% | 17.4% |
| Net margin | -10.2% | 19.9% | -2.3% | 8.1% | 22.8% | 11.6% | -7.4% | -40.2% | 1.6% | -230.1% |
Balance sheet
Fiscal years, from Lumentum's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $555M | $712M | $768M | $1.6B | $1.9B | $2.5B | $2.0B | $887M | $877M | $2.7B |
| Receivables | $166M | $197M | — | — | — | — | — | — | — | — |
| Inventory | $145M | $174M | $229M | $189M | $196M | $250M | $409M | $398M | $470M | $692M |
| Total current assets | $930M | $1.1B | $1.3B | $2.0B | $2.4B | $3.1B | $2.8B | $1.6B | $1.7B | $4.2B |
| Property, plant and equipment | $274M | $307M | $433M | $393M | $361M | $360M | $490M | $572M | $726M | $1.2B |
| Goodwill | $11M | $11M | $369M | $369M | $369M | $369M | $695M | $1.1B | $1.1B | $1.1B |
| Total assets | $1.2B | $1.6B | $2.7B | $3.3B | $3.6B | $4.2B | $4.6B | $3.9B | $4.2B | $7.3B |
| Total current liabilities | $184M | $214M | $294M | $283M | $665M | $716M | $634M | $269M | $393M | $2.5B |
| Long-term debt | — | — | — | — | — | $1.5B | — | $2.5B | $2.6B | $40M |
| Total liabilities | $578M | $620M | $1.2B | $1.5B | $1.6B | $2.3B | $3.3B | $3.0B | $3.1B | $2.7B |
| Shareholders' equity | $619M | $926M | $1.5B | $1.7B | $2.0B | $1.9B | $1.4B | $957M | $1.1B | $4.6B |
| Net debt | -$273M | -$397M | -$433M | -$298M | -$774M | $176M | -$859M | $2.1B | $2.1B | -$406M |
Cash flow
Fiscal years, from Lumentum's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $85M | $248M | $330M | $524M | $739M | $459M | $180M | $25M | $126M | $751M |
| Capital spending | $138M | $93M | $166M | $86M | $85M | $91M | $128M | $133M | $231M | $451M |
| Free cash flow | -$53M | $154M | $164M | $438M | $654M | $368M | $51M | -$108M | -$105M | $300M |
| Stock-based compensation | $33M | $47M | $61M | $73M | $93M | $103M | $148M | $129M | $177M | $170M |
| Share buybacks (net) | — | $0 | $0 | -$200M | -$236M | -$544M | -$176M | $0 | $0 | — |
| Net borrowing | — | — | — | — | — | — | $0 | $0 | $76M | $48M |
| Free cash flow margin | -5.3% | 12.4% | 10.5% | 26.1% | 37.5% | 21.5% | 2.9% | -8.0% | -6.4% | 10.0% |
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Open LITE in InvestinglyQuestions
What was Lumentum's revenue in 2026?
$3.0B in fiscal 2026, from its 10-K filing.
How much free cash flow does Lumentum generate?
$300M in fiscal 2026 (operating cash flow minus capital spending).
From Lumentum's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.