The company's liquidity position has strengthened significantly, with cash reserves rising to $2.6 billion in 2026Q3, though the $3.3 billion debt load maintains a debt-to-equity ratio of 1.11.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 |
|---|
| Total Current Assets | 4.4B | 1.72B | 1.59B | 2.78B | 3.14B | 2.44B | 2.05B | 1.33B | 1.13B | 930.3M | 489.5M | 310.8M | 286M | 245.3M |
| Cash & Short-Term Investments | 3.17B | 877.1M | 887M | 2.01B | 2.55B | 1.95B | 1.55B | 768.5M | 711.5M | 555.3M | 157.1M | 14.5M | 19.9M | 7.8M |
| Cash Only | 2.62B | 520.7M | 436.7M | 859M | 1.29B | 774.3M | 298M | 432.6M | 397.3M | 272.9M | 157.1M | 14.5M | 19.9M | 7.8M |
| Short-Term Investments | 554.5M | 356.4M | 450.3M | 1.15B | 1.26B | 1.17B | 1.26B | 335.9M | 314.2M | 282.4M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 441.6M | 250M | 194.7M | 246.1M | 262M | 212.8M | 233.5M | 238M | 197.1M | 166.3M | 170.5M | 150.5M | 136.5M | 121.8M |
| Days Sales Outstanding | 50.44 | 55.47 | 52.28 | 50.84 | 55.84 | 45.35 | 50.77 | 55.5 | 57.66 | 60.6 | 68.92 | 65.62 | 60.92 | 57.74 |
| Inventory | 632.8M | 470.1M | 398.4M | 408.6M | 250.1M | 196.4M | 188.9M | 228.8M | 153.6M | 145.2M | 100.6M | 99.7M | 96.5M | 79.2M |
| Days Inventory Outstanding | 129.81 | 144.79 | 131.28 | 124.49 | 98.79 | 77.58 | 67.04 | 73.29 | 68.74 | 77.54 | 58.68 | 62.83 | 62.75 | 52.84 |
| Other Current Assets | 149M | 120.1M | 110M | 0 | 0 | 0 | 0 | 0 | 2.7M | 40.7M | 42.6M | 16.2M | 9.1M | 8.6M |
| Total Non-Current Assets | 2.63B | 2.5B | 2.34B | 1.85B | 1.02B | 1.11B | 1.24B | 1.38B | 454.3M | 302.6M | 236.8M | 201.8M | 206.1M | 165.4M |
| Property, Plant & Equipment | 991.3M | 754.3M | 645.3M | 566.8M | 434.1M | 428.5M | 471.7M | 433.3M | 306.9M | 273.5M | 183.4M | 143.2M | 136.5M | 103.1M |
| Fixed Asset Turnover | 2.92x | 2.18x | 2.11x | 3.12x | 3.95x | 4.00x | 3.56x | 3.61x | 4.07x | 3.66x | 4.92x | 5.85x | 5.99x | 7.47x |
| Goodwill | 1.07B | 1.06B | 1.06B | 695.1M | 368.9M | 368.9M | 368.9M | 368.9M | 11.3M | 11.4M | 5.4M | 5.6M | 5.9M | 0 |
| Intangible Assets | 362.9M | 465.1M | 617.5M | 459.2M | 155.7M | 241.2M | 316.8M | 395.4M | 7M | 10.1M | 14.5M | 21.8M | 29.9M | 30.3M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 13.8M | 10.8M | 12.5M | 16.8M | 37.3M | 3.3M | 4M | 16.6M | 3.5M | 3.7M | 1.6M | 900K | 500K | 500K |
| Total Assets | 7.03B | 4.22B | 3.93B | 4.63B | 4.16B | 3.55B | 3.29B | 2.72B | 1.58B | 1.23B | 726.3M | 512.6M | 492.1M | 410.7M |
| Asset Turnover | 0.48x | 0.39x | 0.35x | 0.38x | 0.41x | 0.48x | 0.51x | 0.58x | 0.79x | 0.81x | 1.24x | 1.63x | 1.66x | 1.87x |
| Asset Growth % | 121.47% | 7.29% | -15.12% | 11.29% | 17.19% | 7.87% | 21.2% | 71.77% | 28.27% | 69.75% | 41.69% | 4.17% | 19.82% | - |
| Total Current Liabilities | 3.87B | 392.8M | 269.3M | 633.8M | 716.5M | 664.6M | 283M | 294M | 214M | 184.2M | 173.7M | 122.1M | 136.9M | 111.9M |
| Accounts Payable | 392.7M | 225.2M | 126.3M | 169.4M | 156.7M | 116.9M | 150.8M | 160.8M | 126.5M | 114.8M | 118.3M | 77.9M | 82.1M | 58.6M |
| Days Payables Outstanding | 73.23 | 69.36 | 41.62 | 51.61 | 61.9 | 46.18 | 53.52 | 51.51 | 56.61 | 61.3 | 69.01 | 49.09 | 53.39 | 39.1 |
| Short-Term Debt | 3.25B | 10.6M | 0 | 311.6M | 409.9M | 390.7M | 0 | 5M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 5.5M | 700K | 600K | 2.1M | 0 | 600K | 1.9M | 2.9M | 2.8M | 6.9M | 2.7M | 0 | 0 | 0 |
| Other Current Liabilities | 221.5M | 20.8M | 16.2M | 12.7M | 13.4M | 8M | 7.8M | 5.1M | 2.8M | 2.2M | 1.1M | 4.8M | 3.8M | 2M |
| Current Ratio | 1.14x | 4.37x | 5.90x | 4.38x | 4.38x | 3.67x | 7.24x | 4.53x | 5.27x | 5.05x | 2.82x | 2.55x | 2.09x | 2.19x |
| Quick Ratio | 0.97x | 3.18x | 4.43x | 3.74x | 4.03x | 3.37x | 6.58x | 3.76x | 4.55x | 4.26x | 2.24x | 1.73x | 1.38x | 1.48x |
| Cash Conversion Cycle | 107.01 | 130.9 | 141.94 | 123.71 | 92.73 | 76.76 | 64.3 | 77.28 | 69.79 | 76.84 | 58.59 | 79.36 | 70.28 | 71.49 |
| Total Non-Current Liabilities | 189.2M | 2.69B | 2.71B | 2.64B | 1.57B | 914.2M | 1.26B | 925.5M | 405.6M | 394.1M | 19.4M | 9.8M | 19.6M | 17M |
| Long-Term Debt | 62.6M | 2.56B | 2.5B | 2.5B | 1.47B | 789.8M | 1.12B | 835.9M | 334.2M | 317.5M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 70.8M | 23.6M | 43M | 47.7M | 48.8M | 47.6M | 57.6M | 0 | 400K | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 84.6M | 7.2M | 55.7M | 3.4M | 12.9M | 35.9M | 46.5M | 55.9M | 300K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 121.2M | 97.8M | 103.4M | 91.4M | 42.9M | 40.9M | 36M | 31.5M | 68.1M | 73.3M | 17.8M | 8.1M | 17.3M | 15.3M |
| Total Liabilities | 4.05B | 3.08B | 2.97B | 3.28B | 2.29B | 1.58B | 1.54B | 1.22B | 619.6M | 578.3M | 193.1M | 131.9M | 156.5M | 128.9M |
| Total Debt | 3.31B | 2.61B | 2.56B | 2.87B | 1.94B | 1.24B | 1.19B | 841.3M | 341.9M | 317.5M | 0 | 0 | 0 | 0 |
| Net Debt | 695.9M | 2.09B | 2.12B | 2.01B | 645.8M | 465.6M | 891.3M | 408.7M | -55.4M | 44.6M | -157.1M | -14.5M | -19.9M | -7.8M |
| Debt / Equity | 1.11x | 2.30x | 2.67x | 2.12x | 1.03x | 0.63x | 0.68x | 0.56x | 0.36x | 0.49x | - | - | - | - |
| Debt / EBITDA | 7.80x | 34.05x | - | 20.54x | 4.12x | 2.64x | 3.00x | 8.87x | 1.57x | 2.92x | - | - | - | - |
| Net Debt / EBITDA | 1.64x | 27.25x | - | 14.40x | 1.37x | 0.99x | 2.25x | 4.31x | -0.26x | 0.41x | -2.38x | -0.53x | -0.37x | -0.16x |
| Interest Coverage | 9.62x | -6.75x | -11.00x | -1.88x | 3.93x | 3.93x | 3.85x | 0.08x | 8.11x | -9.87x | 98.00x | -34.00x | 50.00x | 4.70x |
| Total Equity | 2.97B | 1.13B | 957.3M | 1.36B | 1.88B | 1.97B | 1.75B | 1.5B | 961.9M | 654.6M | 533.2M | 380.6M | 335.6M | 281.8M |
| Equity Growth % | 240.82% | 18.53% | -29.39% | -27.69% | -4.96% | 12.78% | 16.84% | 55.64% | 46.94% | 22.77% | 40.09% | 13.41% | 19.09% | - |
| Book Value per Share | 30.91 | 16.30 | 14.22 | 19.85 | 25.27 | 26.59 | 22.54 | 21.18 | 15.20 | 10.80 | 8.71 | 6.52 | 5.79 | 4.86 |
| Total Shareholders' Equity | 2.97B | 1.13B | 957.3M | 1.36B | 1.88B | 1.97B | 1.75B | 1.5B | 961.9M | 654.6M | 533.2M | 380.7M | 335.6M | 281.8M |
| Common Stock | 100K | 100K | 100K | 100K | 100K | 100K | 100K | 100K | 100K | 100K | 100K | 368.1M | 312.9M | 257.2M |
| Retained Earnings | -634.6M | -861.2M | -887.1M | -340.6M | -129.1M | 220.9M | 64.6M | 129.1M | 166.4M | -83.2M | 20.2M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 7M | 9M | 9.3M | 4.1M | 400K | 8.2M | 7.9M | 7.1M | 6.4M | 7.4M | 9.4M | 12.5M | 22.7M | 24.6M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cyclical inventory and demand volatility
As reported in recent financial statements, Lumentum's total assets surged to $7.0 billion in 2026Q3, a significant increase from the $4.8 billion recorded in 2026Q2, suggesting that the company is aggressively scaling its balance sheet to support the current acceleration in AI-driven optical component demand.
The rapid expansion of the asset base appears to be driven by a combination of strategic integration and increased working capital requirements to meet surging order volumes. Investors should monitor whether this asset growth translates into sustained return on invested capital or if it merely reflects a temporary buildup of inventory and receivables.
Based on the latest quarterly filings, Lumentum's cash position reached $2.6 billion in 2026Q3, a substantial improvement from the $657.7 million reported in 2026Q2, which provides a critical liquidity buffer against the inherent volatility of the telecommunications and consumer electronics product cycles.
The current ratio of 1.14 indicates a more normalized liquidity profile compared to the extreme fluctuations seen in previous quarters. This cash accumulation appears to provide management with the necessary flexibility to navigate potential supply chain disruptions or to fund further strategic acquisitions in the high-speed transceiver space.
According to the company's balance sheet data, equity has expanded to $3.0 billion in 2026Q3 from $846.6 million in 2026Q2, signaling a meaningful improvement in the company's net worth as it begins to recover from the persistent negative retained earnings observed throughout the 2024 and 2025 fiscal periods.
The reduction in the deficit within retained earnings suggests that the company's recent operational profitability is finally beginning to repair the equity base. However, the historical reliance on non-operating items warrants caution, as the long-term sustainability of this equity growth depends on consistent core earnings generation.
As disclosed in regulatory filings, Lumentum maintains a consistent $1.1 billion in goodwill, which represents a significant portion of the company's equity base and suggests that future impairment risks remain a non-trivial concern if recent acquisitions fail to meet long-term synergy and growth expectations.
While the headline leverage appears manageable, the concentration of intangible assets highlights the company's reliance on successful M&A integration to justify its current valuation. Investors should remain vigilant regarding potential write-downs if the competitive landscape in the optical transceiver market shifts or if technology cycles accelerate beyond the company's current R&D capabilities.
Quick answers to the most common questions about buying LITE stock.
As of 2025, Lumentum Holdings Inc. (LITE) had total assets of $4.22B including $1.72B in current assets.
Lumentum Holdings Inc. (LITE) carries total debt of $2.61B, offset by $877.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lumentum Holdings Inc. (LITE) has total shareholders' equity (book value) of $1.13B ($16.30 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lumentum Holdings Inc. (LITE) reported a current ratio of 4.37x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.