Analysis of Inventory
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- Cash Flow Statement
- Analysis of Reportable Segments
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2015
- Return on Equity (ROE) since 2015
- Price to Earnings (P/E) since 2015
- Price to Book Value (P/BV) since 2015
- Analysis of Revenues
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Inventory Disclosure
Lumentum Holdings Inc., balance sheet: inventory
US$ in thousands
| Jun 28, 2025 | Jun 29, 2024 | Jul 1, 2023 | Jul 2, 2022 | Jul 3, 2021 | Jun 27, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials and purchased parts | |||||||||||||
| Work in process | |||||||||||||
| Finished goods | |||||||||||||
| Inventories |
Based on: 10-K (reporting date: 2025-06-28), 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27).
The composition of inventories has undergone significant shifts over the observed period. Overall inventory values demonstrate a general increasing trend, though with notable fluctuations in specific components.
- Raw Materials and Purchased Parts
- Raw materials and purchased parts exhibit a consistent and substantial increase throughout the period. Beginning at US$57.9 million in 2020, this category rose to US$253.2 million in 2025. The most significant increase occurred between 2021 and 2023, suggesting potential strategic stockpiling or increased production requirements. Growth slowed between 2023 and 2024, and continued at a similar rate to the prior year between 2024 and 2025.
- Work in Process
- Work in process inventory also increased overall, but with less consistency than raw materials. It rose from US$67.6 million in 2020 to US$159.1 million in 2025. A period of moderate growth occurred between 2020 and 2022, followed by a smaller increase in 2023. Notably, work in process decreased slightly between 2023 and 2024, before increasing significantly in 2025.
- Finished Goods
- Finished goods inventory displays the most volatility. It decreased from US$63.4 million in 2020 to US$53.0 million in 2021, then increased substantially to US$134.9 million in 2023. A decrease to US$99.9 million was observed in 2024, followed by a further decline to US$57.8 million in 2025. This suggests potential challenges in aligning production with demand, or deliberate reductions in finished goods holdings.
- Total Inventories
- Total inventories increased from US$188.9 million in 2020 to US$470.1 million in 2025. The largest single-year increase occurred between 2022 and 2023, driven primarily by the growth in raw materials and finished goods. While total inventory decreased slightly between 2023 and 2024, it resumed growth in the final period. The increasing trend in total inventory warrants further investigation to determine if it is aligned with revenue growth and operational efficiency.
The shifts in inventory composition suggest a changing operational strategy. The substantial increase in raw materials, coupled with fluctuations in work in process and finished goods, may indicate adjustments to production planning, supply chain management, or anticipated future demand.