Lumentum Holdings Inc (LITE)
Operating return on assets (Operating ROA)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | -180,100 | -268,000 | -344,900 | -398,500 | -396,900 | -356,500 | -280,200 | -183,000 | -74,600 | 3,300 | 88,400 | 181,600 | 269,900 | 293,700 | 513,800 | 543,900 | 527,000 | 508,200 | 283,800 | 243,300 |
| Total assets | US$ in thousands | 4,218,700 | 3,975,000 | 3,966,100 | 3,969,600 | 3,931,900 | 4,204,500 | 4,656,000 | 4,545,000 | 4,632,100 | 4,354,000 | 4,418,100 | 4,387,400 | 4,162,200 | 4,133,500 | 3,615,700 | 3,519,000 | 3,551,600 | 3,745,900 | 3,468,200 | 3,387,400 |
| Operating ROA | -4.27% | -6.74% | -8.70% | -10.04% | -10.09% | -8.48% | -6.02% | -4.03% | -1.61% | 0.08% | 2.00% | 4.14% | 6.48% | 7.11% | 14.21% | 15.46% | 14.84% | 13.57% | 8.18% | 7.18% |
June 30, 2025 calculation
Operating ROA = Operating income (ttm) ÷ Total assets
= $-180,100K ÷ $4,218,700K
= -4.27%
The operating return on assets (ROA) of Lumentum Holdings Inc. exhibits a notable trend over the analyzed period from September 30, 2020, to June 30, 2025. Initially, the company demonstrated a healthy operating ROA, reaching a peak of 15.46% as of September 30, 2021. During this period, the company effectively generated operating income relative to its total assets, indicating operational efficiency and favorable market conditions.
Subsequently, the operating ROA declined sharply from its peak, decreasing to approximately 14.21% by December 31, 2021, and then experiencing a substantial decline through the following quarters. By March 31, 2022, the ROA had fallen to 7.11%, and this downward trend persisted, reaching 6.48% by June 30, 2022, and further diminishing to 4.14% as of September 30, 2022. The decline accelerated in the subsequent year, with the metric dropping to 2.00% at the end of 2022, and further declining into negative territory at 0.08% by March 31, 2023.
Throughout 2023 and into 2024, the operating ROA continued its negative trajectory, reaching -4.03% on September 30, 2023, and extending to -10.04% as of September 30, 2024. This sustained negative performance indicates that the company's operating income was insufficient to cover asset-related costs during this time frame, reflecting operational challenges or declining profitability.
The trend into 2024 and 2025 shows a partial recovery from the lowest points; the operating ROA improves from -10.04% as of September 2024 to -6.74% by March 31, 2025, and further to -4.27% by June 30, 2025. Despite this improvement, the metric remains negative, suggesting ongoing difficulties in generating positive operating returns relative to the asset base.
Overall, the data reflects a significant decline in operational efficiency over recent years, transitioning from a historically healthy performance into persistent negative territory, with some signs of marginal recovery toward mid-2025.
Peer comparison
Jun 30, 2025