Total Asset Turnover
since 2015
Calculation
Lumentum Holdings Inc., total asset turnover, long-term trends, calculation
| Total asset turnover | = | Net revenue1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|
| Jun 27, 2026 | 0.41 | = | 3,014,000) | ÷ | 7,307,500) |
| Jun 28, 2025 | 0.39 | = | 1,645,000) | ÷ | 4,218,700) |
| Jun 29, 2024 | 0.35 | = | 1,359,200) | ÷ | 3,931,900) |
| Jul 1, 2023 | 0.38 | = | 1,767,000) | ÷ | 4,632,100) |
| Jul 2, 2022 | 0.41 | = | 1,712,600) | ÷ | 4,162,200) |
| Jul 3, 2021 | 0.49 | = | 1,742,800) | ÷ | 3,551,600) |
| Jun 27, 2020 | 0.51 | = | 1,678,600) | ÷ | 3,292,600) |
| Jun 29, 2019 | 0.58 | = | 1,565,300) | ÷ | 2,716,600) |
| Jun 30, 2018 | 0.79 | = | 1,247,700) | ÷ | 1,581,500) |
| Jul 1, 2017 | 0.81 | = | 1,001,600) | ÷ | 1,232,900) |
| Jul 2, 2016 | 1.24 | = | 903,000) | ÷ | 726,300) |
| Jun 27, 2015 | 1.63 | = | 837,100) | ÷ | 512,600) |
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), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27).
1 US$ in thousands
The total asset turnover ratio exhibits a prolonged downward trajectory from 2015 through 2024, indicating a decrease in the efficiency with which assets are utilized to generate revenue. The ratio declined from a peak of 1.63 in 2015 to a low of 0.35 in 2024, reflecting a significant shift in the relationship between the asset base and top-line growth.
- Asset Expansion and Revenue Correlation
- A primary driver of the declining turnover ratio is the aggressive expansion of the total asset base. Between 2015 and 2023, total assets grew from approximately 512.6 million to 4.63 billion, an increase of roughly 800%. While net revenue also grew during this period, increasing from 837.1 million to 1.77 billion, the pace of asset accumulation substantially outstripped revenue growth, leading to the compression of the turnover ratio.
- Period of Peak Decline
- The most precipitous drops in efficiency occurred between 2015 and 2017, where the ratio fell from 1.63 to 0.81. Following this period, the decline slowed but remained consistent, reaching a nadir of 0.35 in 2024. This suggests a long-term transition toward a more capital-intensive operational model or a period of significant investment in infrastructure and acquisitions that have not yet reached full revenue-generating potential.
- Recent Volatility and Projected Recovery
- In 2024, a contraction in net revenue to 1.36 billion coincided with a reduction in total assets to 3.93 billion, resulting in the lowest recorded efficiency ratio of 0.35. However, a trend reversal is observed in the projected figures for 2025 and 2026. The total asset turnover is expected to recover slightly to 0.41 by 2026, driven by a substantial projected increase in net revenue to 3.01 billion, which is intended to offset the continued expansion of the asset base to 7.31 billion.
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Comparison to Competitors
Lumentum Holdings Inc., total asset turnover, long-term trends, comparison to competitors
| Lumentum Holdings Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|
| Jun 27, 2026 | 0.41 | — | — | — | 1.12 | — |
| Jun 28, 2025 | 0.39 | 1.16 | 0.46 | 0.46 | 1.20 | 1.57 |
| Jun 29, 2024 | 0.35 | 1.07 | 0.50 | 0.43 | 1.08 | 1.53 |
| Jul 1, 2023 | 0.38 | 1.09 | 0.59 | 0.56 | 1.14 | 1.94 |
| Jul 2, 2022 | 0.41 | 1.12 | 0.65 | 0.55 | 1.09 | 1.62 |
| Jul 3, 2021 | 0.49 | 1.04 | 0.51 | 0.51 | 0.76 | 1.59 |
| Jun 27, 2020 | 0.51 | 0.85 | 0.49 | 0.52 | 0.78 | 1.74 |
| Jun 29, 2019 | 0.58 | 0.77 | 0.58 | 0.53 | 0.81 | 2.08 |
| Jun 30, 2018 | 0.79 | 0.73 | 0.70 | 0.45 | — | 1.90 |
| Jul 1, 2017 | 0.81 | 0.61 | 0.67 | 0.37 | — | 1.64 |
| Jul 2, 2016 | 1.24 | 0.67 | 0.65 | 0.40 | — | 1.90 |
| Jun 27, 2015 | 1.63 | 0.80 | 0.72 | 0.43 | — | 1.83 |
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), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27).
Comparison to Sector (Technology Hardware & Equipment)
Lumentum Holdings Inc., total asset turnover, long-term trends, comparison to sector (technology hardware & equipment)
| Lumentum Holdings Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Jun 27, 2026 | 0.41 | — |
| Jun 28, 2025 | 0.39 | 1.00 |
| Jun 29, 2024 | 0.35 | 0.93 |
| Jul 1, 2023 | 0.38 | 0.99 |
| Jul 2, 2022 | 0.41 | 1.01 |
| Jul 3, 2021 | 0.49 | 0.89 |
| Jun 27, 2020 | 0.51 | 0.77 |
| Jun 29, 2019 | 0.58 | 0.74 |
| Jun 30, 2018 | 0.79 | 0.67 |
| Jul 1, 2017 | 0.81 | 0.55 |
| Jul 2, 2016 | 1.24 | 0.60 |
| Jun 27, 2015 | 1.63 | 0.70 |
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), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27).
Comparison to Industry (Information Technology)
Lumentum Holdings Inc., total asset turnover, long-term trends, comparison to industry (information technology)
| Lumentum Holdings Inc. | Information Technology | |
|---|---|---|
| Jun 27, 2026 | 0.41 | — |
| Jun 28, 2025 | 0.39 | 0.60 |
| Jun 29, 2024 | 0.35 | 0.58 |
| Jul 1, 2023 | 0.38 | 0.61 |
| Jul 2, 2022 | 0.41 | 0.64 |
| Jul 3, 2021 | 0.49 | 0.62 |
| Jun 27, 2020 | 0.51 | 0.58 |
| Jun 29, 2019 | 0.58 | 0.59 |
| Jun 30, 2018 | 0.79 | 0.59 |
| Jul 1, 2017 | 0.81 | 0.51 |
| Jul 2, 2016 | 1.24 | 0.55 |
| Jun 27, 2015 | 1.63 | 0.63 |
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), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-07-01), 10-K (reporting date: 2016-07-02), 10-K (reporting date: 2015-06-27).