Lumentum Holdings Inc (LITE)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -172,100 | -288,200 | -356,400 | -415,600 | -405,700 | -323,600 | -264,900 | -190,500 | -102,400 | -19,900 | 58,100 | 154,300 | 235,100 | 226,500 | 450,100 | 479,100 | 463,100 | 449,200 | 244,900 | 204,500 |
| Revenue (ttm) | US$ in thousands | 1,645,000 | 1,472,600 | 1,413,900 | 1,378,500 | 1,359,200 | 1,421,700 | 1,438,600 | 1,577,800 | 1,767,000 | 1,818,300 | 1,830,300 | 1,771,000 | 1,712,600 | 1,682,600 | 1,706,700 | 1,738,800 | 1,742,800 | 1,718,800 | 1,702,100 | 1,681,100 |
| Pretax margin | -10.46% | -19.57% | -25.21% | -30.15% | -29.85% | -22.76% | -18.41% | -12.07% | -5.80% | -1.09% | 3.17% | 8.71% | 13.73% | 13.46% | 26.37% | 27.55% | 26.57% | 26.13% | 14.39% | 12.16% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-172,100K ÷ $1,645,000K
= -10.46%
Lumentum Holdings Inc.'s pretax margin has exhibited notable fluctuations over the analyzed period. During the fiscal year ending September 30, 2020, the pretax margin was 12.16%, indicating a modestly profitable phase prior to the impacts of the COVID-19 pandemic and market volatility. As of December 31, 2020, the margin improved to 14.39%, suggesting a slight enhancement in profitability.
The first half of 2021 marked a significant strengthening, with the pretax margin reaching 26.13% as of March 31, 2021, and further expanding to 26.57% by June 30, 2021. This period reflects a robust profit-making phase, possibly driven by favorable market conditions, product demand, or operational efficiencies. The margin persisted at elevated levels through September 2021 at 27.55%, maintaining the trend of substantial profitability.
In the subsequent quarters, starting from December 31, 2021, the pretax margin remained relatively high but demonstrated a downward trend, declining to 26.37% by the end of 2021. The first quarter of 2022 showed a sharp decrease to 13.46%, and this lower level persisted through June 2022 at 13.73%. This marked a substantial contraction, indicating potential pressures such as increased costs, market saturation, or competitive challenges.
From September 2022 onward, the pretax margin continued to decline markedly, registering at 8.71%, then plummeting to 3.17% in December 2022. The negative trajectory continued into 2023, with the margin turning negative at -1.09% in March, and deepening through subsequent quarters to -12.07% in September 2023. The deterioration indicates ongoing challenges impacting profitability, leading to pretax losses.
The negative trend persisted into 2024, with margins reaching as low as -30.15% in September 2024, and slightly improving but remaining negative at -25.21% as of December 2024. The first half of 2025 shows signs of partial recovery, with margins improving to -19.57% in March 2025 and further to -10.46% by June 2025, reflecting a potential stabilization or recovery phase after sustained losses.
Overall, the company's pretax margin experienced a significant peak in early 2021, followed by a prolonged and pronounced decline into losses by late 2022 and remained negative into mid-2025. This trend underscores substantial operational or market challenges faced by the company over this period.
Peer comparison
Jun 30, 2025