Name: Lumentum Holdings Inc. (NASDAQ:LITE) | Enterprise Value (EV)
Creator: Stock Analysis on Net

Current EV
Historical EV

Lumentum Holdings Inc., current enterprise value calculation

Current share price (P)	$869.54
No. shares of common stock outstanding	89,700,000
US$ in thousands
Common equity (market value)¹	77,997,738)
Add: Preferred stock, $0.001 par value (per books)	—)
Total equity	77,997,738)
Add: Current portion of long-term debt (per books)	1,596,900)
Add: Long-term debt, excluding current portion (per books)	40,500)
Total equity and debt	79,635,138)
Less: Cash and cash equivalents	2,043,500)
Less: Short-term investments	694,900)
Enterprise value (EV)	76,896,738)

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

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 869.54 × 89,700,000

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Lumentum Holdings Inc., EV calculation

	Jun 27, 2026	Jun 28, 2025	Jun 29, 2024	Jul 1, 2023	Jul 2, 2022	Jul 3, 2021
Share price^1, 2	$968.90	$117.96	$56.39	$53.18	$91.10	$86.64
No. shares of common stock outstanding¹	89,700,000	69,900,000	68,000,000	66,700,000	68,100,000	72,700,000
US$ in thousands
Common equity (market value)³	86,910,330)	8,245,404)	3,834,520)	3,547,106)	6,203,910)	6,298,728)
Add: Preferred stock, $0.001 par value (book value)	—)	—)	—)	—)	—)	—)
Total equity	86,910,330)	8,245,404)	3,834,520)	3,547,106)	6,203,910)	6,298,728)
Add: Current portion of long-term debt (book value)	1,596,900)	10,600)	—)	311,600)	409,900)	390,700)
Add: Long-term debt, excluding current portion (book value)	40,500)	2,562,600)	2,503,200)	2,500,000)	1,466,100)	789,800)
Total equity and debt	88,547,730)	10,818,604)	6,337,720)	6,358,706)	8,079,910)	7,479,228)
Less: Cash and cash equivalents	2,043,500)	520,700)	436,700)	859,000)	1,290,200)	774,300)
Less: Short-term investments	694,900)	356,400)	450,300)	1,154,600)	1,258,800)	1,171,700)
Enterprise value (EV)	85,809,330)	9,941,504)	5,450,720)	4,345,106)	5,530,910)	5,533,228)

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
= 968.90 × 89,700,000

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.

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Lumentum Holdings Inc. (NASDAQ:LITE)

Enterprise Value (EV)

Current Enterprise Value (EV)

Historical Enterprise Value (EV)