Stock Analysis on Net
Stock Analysis on Net

Lumentum Holdings Inc. (NASDAQ:LITE)

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Enterprise Value (EV)

Microsoft Excel

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Current Enterprise Value (EV)

Lumentum Holdings Inc., current enterprise value calculation

Microsoft Excel
Current share price (P)
No. shares of common stock outstanding
US$ in thousands
Common equity (market value)1
Add: Preferred stock, $0.001 par value (per books)
Total equity
Add: Current portion of long-term debt (per books)
Add: Long-term debt, excluding current portion (per books)
Total equity and debt
Less: Cash and cash equivalents
Less: Short-term investments
Enterprise value (EV)

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

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


Historical Enterprise Value (EV)

Lumentum Holdings Inc., EV calculation

Microsoft Excel
Jun 27, 2026 Jun 28, 2025 Jun 29, 2024 Jul 1, 2023 Jul 2, 2022 Jul 3, 2021
Share price1, 2
No. shares of common stock outstanding1
US$ in thousands
Common equity (market value)3
Add: Preferred stock, $0.001 par value (book value)
Total equity
Add: Current portion of long-term debt (book value)
Add: Long-term debt, excluding current portion (book value)
Total equity and debt
Less: Cash and cash equivalents
Less: Short-term investments
Enterprise value (EV)

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).

1 Data adjusted for splits and stock dividends.

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

3 2026 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×


The valuation trajectory exhibits a period of initial volatility followed by an exponential increase in the final reporting period. From 2021 through 2023, a contraction in market valuation was observed, followed by a recovery phase starting in 2024 and culminating in a substantial surge by June 2026.

Common Equity Market Value
Equity value remained relatively stable between 2021 and 2022 before declining significantly to 3.5 billion USD in 2023. A recovery trend began in 2024, with the value increasing to 8.2 billion USD in 2025, followed by an unprecedented escalation to approximately 86.9 billion USD by June 2026.
Enterprise Value (EV) Trends
Enterprise value mirrored the fluctuations of market equity, reaching a trough of 4.3 billion USD in 2023. The valuation recovered to 5.4 billion USD in 2024 and nearly doubled to 9.9 billion USD in 2025. The final period shows an extreme expansion, with the EV rising to 85.8 billion USD.
Capitalization and Debt Dynamics
Total equity and debt followed a similar pattern of contraction and expansion, peaking at 88.5 billion USD in 2026. The consistent delta between total equity and debt and the enterprise value suggests a steady offset, typically indicative of cash and cash equivalents held on the balance sheet.