Common-Size Balance Sheet: Assets
Quarterly Data
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Lumentum Holdings Inc. pages available for free this week:
- 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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Lumentum Holdings Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-03-28), 10-Q (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-K (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-Q (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-K (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-Q (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-K (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-K (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-Q (reporting date: 2022-01-01), 10-Q (reporting date: 2021-10-02), 10-K (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03), 10-Q (reporting date: 2020-12-26), 10-Q (reporting date: 2020-09-26), 10-K (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28), 10-Q (reporting date: 2019-12-28), 10-Q (reporting date: 2019-09-28).
The company's asset structure exhibits significant volatility and strategic shifts over the analyzed period, moving from a liquidity-heavy position to a focus on non-current strategic assets, and finally returning to a highly liquid state.
- Liquidity and Cash Management
- A period of high liquidity was observed between 2020 and early 2022, where current assets peaked at 75.42% of total assets. This was driven largely by short-term investments, which reached a high of 40.67% in January 2022. Following this peak, there was a marked contraction in liquid holdings through 2023 and 2024, with short-term investments falling below 11%. However, a sharp recovery in liquidity is evident by March 2026, as cash and cash equivalents surged to 37.25% of total assets.
- Strategic Acquisitions and Intangible Assets
- A significant structural shift occurred starting in October 2022, characterized by a sharp increase in goodwill and other intangible assets. Goodwill rose from 8.86% in July 2022 to a peak of 26.85% by June 2024, coinciding with a surge in intangible assets to 16.38% in January 2024. This pattern strongly indicates a period of aggressive acquisition activity. These figures trended downward toward the end of the period, with goodwill receding to 15.17% by March 2026.
- Operational Asset Trends
- Inventories remained relatively stable between 5% and 6% of total assets from 2019 through 2022, but experienced a steady increase starting in 2023, peaking at 11.87% in September 2025. This suggests an increase in working capital requirements or a strategic build-up of stock. Property, plant, and equipment also showed a growth trend from 2023 to 2025, peaking at 17.44% before declining to 13.72% in the final quarter.
- Balance Sheet Composition
- The overall composition of the balance sheet inverted between 2022 and 2023. Prior to 2023, current assets were the dominant component. From December 2022 through September 2025, non-current assets became the primary asset class, peaking at 60.76% in March 2024. This shift reflects a transition from a liquid, cash-rich posture to one focused on long-term capital investments and acquired intangibles, before returning to a current-asset-dominant structure (62.55%) by March 2026.