LITELumentum Holdings Inc.
Communications Equipment, NEC · $74.5B market cap · 13,757 employees
0.1×
Less likely than average to be taken private
Top 67% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works
Takeover signals
What an activist or buyer would see: cheap, overpaid, diluted or under pressure.
4of 15 firedHow well they predict deals →
- TSR below peersYes3 of 5 years3+ of last 5 years
- Low revenue per employeeYes$219K · 21st pctBottom quartile of its SIC industry
- Net cashYesNet cash · 0.6× EBITDAMore cash than debt, positive EBITDA
- Net insider sellingYes−$176M netNet sales over $10M in 12 months
11 other checks
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo6% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo15% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
- Quiet on AINo6.1 per 10K words · 86th pctBottom quartile of AI mentions in 10-Ks
- Buyout-sizedNo$74.5B market capMarket cap $500M–$5B
- Recurring revenueNo2 of 1010-K business scored 7+ of 10 for recurring revenue
- AI-rollup shapedNo0 of 1010-K business scored 5+ of 10 as an AI-rollup target
- Active 13DNo0 filingsActive-intent 13D in 18 months
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Nov 2, 2026 | 8-K | Marvell Technology, Inc. | — | — |
Key numbers
- Revenue
- $3.0B
- 83% YoY
- Operating margin
- 17.4%
- 259% YoY
- EBITDA
- $654M
- 962% YoY
- Net debt / EBITDA
- -0.6×
- −$406M net debt
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.7B | $1.8B | $1.4B | $1.6B | $3.0B | 83% |
| Operating income | $303M | −$116M | −$434M | −$180M | $525M | 391% |
| Net income | $199M | −$132M | −$547M | $26M | −$6.9B | 26876% |
| Operating cash flow | $459M | $180M | $25M | $126M | $751M | 495% |
| Capex | $91M | $129M | $133M | $231M | $451M | 95% |
| Stock-based comp | $103M | $148M | $129M | $177M | $170M | 4.0% |
| Buybacks | $544M | $176M | $0 | $0 | — |
13D filers
None on file.
Insider trading
−$176Mnet selling by insiders, open market, last 12 months
Bought $0 · 0 tradesSold $176M · 185 trades
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 979 | 199 |
| FY2025 | — | — | 114 | 133 |
| FY2024 | — | — | 61 | 124 |
| FY2023 | — | — | 68 | 93 |
| FY2022 | — | — | 93 | 72 |