Lumentum Holdings Inc., current enterprise value calculation

Current share price (P)	$894.07
No. shares of common stock outstanding	71,400,000
US$ in thousands
Common equity (market value)¹	63,836,598)
Total equity	63,836,598)
Add: Current portion of long-term debt (per books)	10,600)
Add: Finance lease liabilities, current (per books)	—)
Add: Long-term debt, excluding current portion (per books)	2,562,600)
Total equity and debt	66,409,798)
Less: Cash and cash equivalents	520,700)
Less: Short-term investments	356,400)
Enterprise value (EV)	65,532,698)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 894.07 × 71,400,000

Lumentum Holdings Inc., EV calculation

	Jun 28, 2025	Jun 29, 2024	Jul 1, 2023	Jul 2, 2022	Jul 3, 2021	Jun 27, 2020
Share price^1, 2	$117.96	$56.39	$53.18	$91.10	$86.64	$84.00
No. shares of common stock outstanding¹	69,900,000	68,000,000	66,700,000	68,100,000	72,700,000	75,200,000
US$ in thousands
Common equity (market value)³	8,245,404)	3,834,520)	3,547,106)	6,203,910)	6,298,728)	6,316,800)
Total equity	8,245,404)	3,834,520)	3,547,106)	6,203,910)	6,298,728)	6,316,800)
Add: Current portion of long-term debt (book value)	10,600)	—)	311,600)	409,900)	390,700)	—)
Add: Finance lease liabilities, current (book value)	—)	—)	—)	—)	—)	600)
Add: Long-term debt, excluding current portion (book value)	2,562,600)	2,503,200)	2,500,000)	1,466,100)	789,800)	1,120,300)
Total equity and debt	10,818,604)	6,337,720)	6,358,706)	8,079,910)	7,479,228)	7,437,700)
Less: Cash and cash equivalents	520,700)	436,700)	859,000)	1,290,200)	774,300)	298,000)
Less: Short-term investments	356,400)	450,300)	1,154,600)	1,258,800)	1,171,700)	1,255,800)
Enterprise value (EV)	9,941,504)	5,450,720)	4,345,106)	5,530,910)	5,533,228)	5,883,900)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Lumentum Holdings Inc. Annual Report.

³ 2025 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 117.96 × 69,900,000

Lumentum Holdings Inc. (NASDAQ:LITE)

Enterprise Value (EV)