Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Lumentum Holdings Inc., consolidated balance sheet: assets

US$ in thousands

	Jun 27, 2026	Jun 28, 2025	Jun 29, 2024	Jul 1, 2023	Jul 2, 2022	Jul 3, 2021
Cash and cash equivalents	2,043,500)	520,700)	436,700)	859,000)	1,290,200)	774,300)
Short-term investments	694,900)	356,400)	450,300)	1,154,600)	1,258,800)	1,171,700)
Accounts receivable, net	520,300)	250,000)	194,700)	246,100)	262,000)	212,800)
Inventories	691,600)	470,100)	398,400)	408,600)	250,100)	196,400)
Prepayments and other current assets	211,600)	120,100)	110,000)	109,600)	78,100)	81,600)
Current assets	4,161,900)	1,717,300)	1,590,100)	2,777,900)	3,139,200)	2,436,800)
Property, plant and equipment, net	1,159,100)	726,400)	572,500)	489,500)	360,500)	361,100)
Operating lease right-of-use assets, net	29,200)	27,900)	72,800)	77,300)	73,600)	67,400)
Goodwill	1,069,300)	1,060,900)	1,055,800)	695,100)	368,900)	368,900)
Other intangible assets, net	326,900)	465,100)	617,500)	459,200)	155,700)	241,200)
Deferred tax asset	530,900)	210,300)	10,700)	116,300)	27,000)	72,900)
Other non-current assets	30,200)	10,800)	12,500)	16,800)	37,300)	3,300)
Non-current assets	3,145,600)	2,501,400)	2,341,800)	1,854,200)	1,023,000)	1,114,800)
Total assets	7,307,500)	4,218,700)	3,931,900)	4,632,100)	4,162,200)	3,551,600)

Based on: 10-K (reporting date: 2026-06-27), 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).

Total assets exhibit a significant long-term upward trajectory, growing from US$ 3.55 billion in 2021 to US$ 7.31 billion by 2026. The growth pattern is characterized by a period of consolidation and slight contraction between 2023 and 2024, followed by an aggressive expansion in the final observed period.

Liquidity and Cash Management: Cash and cash equivalents demonstrate considerable volatility, peaking in 2022 at US$ 1.29 billion before declining to a low of US$ 436.7 million in 2024. A substantial recovery is observed by 2026, with cash reserves reaching US$ 2.04 billion. Short-term investments followed a general downward trend from 2021 through 2025, before rebounding to US$ 694.9 million in 2026. This suggests a strategic shift in liquidity positioning and capital allocation over the period.
Operational Capacity and Inventory: Property, plant, and equipment (net) show a consistent and accelerating growth trend, increasing from US$ 361.1 million in 2021 to US$ 1.16 billion in 2026. This expansion of the fixed asset base is mirrored by a steady increase in inventories, which grew from US$ 196.4 million in 2021 to US$ 691.6 million in 2026. This indicates a systematic scaling of production capabilities and an increase in the volume of goods held for sale.
Acquisitions and Intangible Assets: A significant increase in goodwill is observed between 2022 and 2024, where values rose from US$ 368.9 million to US$ 1.06 billion. This trend, combined with the peak of other intangible assets in 2024 at US$ 617.5 million, points toward substantial merger and acquisition activity during this window. Following 2024, goodwill remained relatively stable, while other intangible assets began to decline, suggesting a phase of amortization or asset impairment.
Current Asset Dynamics: Current assets experienced a notable contraction in 2024, falling to US$ 1.59 billion from a 2022 peak of US$ 3.14 billion. However, by 2026, current assets surged to US$ 4.16 billion. This recovery was driven primarily by the massive increase in cash and a significant rise in net accounts receivable, which reached US$ 520.3 million, reflecting higher sales volumes or changes in credit terms.
Non-Current Asset Composition: Non-current assets grew from US$ 1.11 billion in 2021 to US$ 3.15 billion in 2026. This growth was primarily fueled by the aforementioned increases in property, plant, and equipment and goodwill. Deferred tax assets showed high volatility, peaking in 2026 at US$ 530.9 million, which may indicate shifts in taxable income projections or changes in tax jurisdictions.

Lumentum Holdings Inc. (NASDAQ:LITE)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items